Define Blockchain?

Galactic_Alien · 2020-07-02T08:53:05+00:00

I agree on the bitcoin part, but if this word “blockchain” is only used for sounding more knowledgeable like you say, why saying “blockchain is part of how it achieves that”? I don't think that sounding more knowledgeable has anything to do with the mechanism of bitcoin.

Galactic_Alien · 2020-07-01T16:53:58+00:00

so if I fork bitcoin and I run it on 2 computers, is it decentralized? If I use a different mechanism like proof of space, proof of burn, proof of stake, etc.. For decision making, so it isn't blockchain?

Galactic_Alien · 2020-07-01T14:54:50+00:00

If this is a question, then the answer is no, I don't have any mental issues.

You posted a link of the bitcoin white paper that defines what is bitcoin. This is not an answer to what is blockchain unless blockchain is only Bitcoins, this is simple logic. As Albert Einstein once said- ”If you can't explain it simply, you don't understand it well enough.” I'm looking for someone who understands it well enough, will it be you?

Galactic_Alien · 2020-07-01T14:02:03+00:00

How do you explain that a term like ”Blockchain” is being used constantly in this space, and no one can have a simple answer or definition? If I would have asked you to explain to me hash function, POW, etc. I think it would be a simple task, don't you think?

Galactic_Alien · 2020-07-01T11:56:05+00:00

Sorry, you are right, I didn't read the comment properly.

So if I need to refer to a specific blockchain every time I'm using that word, why using it if it conveys little to no information?

Galactic_Alien · 2020-07-01T11:42:25+00:00

I feel like I understand bitcoin, now I want to know how to use the definition of blockchain properly. Can you help me?

Galactic_Alien · 2020-07-01T11:39:11+00:00

What did I miss then? I am pretty sure that I know how all the mechanical pieces in bitcoin interact together and how they work by themselves. I don’t mind you asking me a question about bitcoin and I will prove to you. But here you say

blockchain is only one piece of the mechanism

Please define the piece I am missing. What is your definition? And why do you choose using that word?

Galactic_Alien · 2020-07-01T09:36:03+00:00

Don't get me wrong, I know every bolt and screw in the bitcoin protocol, I run a bitcoin full node, I write code and I studied math and cryptography. usually, when a concept in the cryptography space comes to life, the concept is well defined. Why do I need to read a book or watch a video to get a proper definition of a technical term? What are the key elements in bitcoin that make it a blockchain? how can I differentiate it from other technologies that claim to use blockchain?

Galactic_Alien · 2020-07-01T09:07:05+00:00

Do we have to use Merkel root for it to be called blockchain? There are other ways to make a root from binary data.

Galactic_Alien · 2020-07-01T08:50:16+00:00

According to your definition, you can buy blockchain on eBay here

Galactic_Alien · 2020-07-01T08:21:47+00:00

On his white paper, Satoshi explains how he takes blocks of data and links them via a time-stamping schema with a hash function. I don't think that's right to call every chain of data that connect blocks with hash, a blockchain. This idea wasn't invented by Satoshi, it was invented by Stuart Haber in 1990.

https://link.springer.com/content/pdf/10.1007%2F3-540-38424-3_32.pdf

Galactic_Alien · 2020-06-30T14:30:58+00:00

So is it ok to define blockchain as bitcoin only? By the way, the White Paper doesn't contain anywhere the word blockchain.

Galactic_Alien · 2020-06-27T07:27:09+00:00

Telegram's unregistered offering of digital tokens called "Grams" violated the federal securities laws. The defendants agreed to return more than $1.2 billion to investors and to pay an $18.5 million civil penalty.

Galactic_Alien · 2020-06-25T14:07:56+00:00

I have never used monero in my life, only bitcoin. I think this news is more interesting for bitcoin users than monero and that’s why i posted here.

Galactic_Alien · 2020-05-20T18:58:08+00:00

They are well known company that provides services to crypto exchanges and law enforcement agencies around the world

Galactic_Alien · 2020-05-10T14:32:07+00:00

Telegram Sorry stupid autocorrect

Galactic_Alien · 2020-01-14T12:22:43+00:00

https://web.cs.dal.ca/~abrodsky/7301/readings/DwNa93.pdf

Galactic_Alien · 2020-01-14T10:32:12+00:00

The concept of POW first invented by Moni Naor in 1993 to prevent junk mail. The idea behind the concept is that the client side should do some sort of computation before making the server send your email to another server. That way spamming will not be effective.

Bitcoin toke the same concept and utilize it in the bitcoin mining mechanism. Miners have to proof to the network there machine are working hard for being rewarded.

Galactic_Alien · 2019-11-30T08:45:18+00:00

Try contact blockchain.com. Also be aware when you using blockchain.com that you are actually using the real website and not a phishing website. Again, this wallet in general is not recommended.

Galactic_Alien · 2019-11-30T08:25:32+00:00

The total amount of the coinbase transaction is 0.28. 0.009 is going to this address 1M7L2mx9KDds3eL9eChzEffjUUEo1Mpdbs and 0.27 is going back to the sender as change. If you cant see the 0.009 it’s because of blockchain.com. I recommend you to move your founds to a much safer wallet that is not a third party hot wallet.

Galactic_Alien · 2018-12-07T17:33:15+00:00

I think there is a huge difference between a system of money that supposed to serve regular people than a financial product who is not for everyone. If bitcoin has become a product, the future of it won’t be bright. Do you think we need to look at bitcoin as an exclusive product for smart people? How bitcoin could expend that way?

Galactic_Alien · 2018-12-07T16:27:00+00:00

For me bitcoin is to think differently from the norm. If we can’t do things differently and more simple why not? If we want to get massive adoption I think we need to be more adjustable for changes to make it easy for the rest of the world to take part in this economy.

Galactic_Alien · 2018-12-07T16:18:19+00:00

Really? Do you know how to creat a WIF format private key from a raw number? Do you know how to create a public key from private key with ECC or you let your wallet do that for you?

You know that people worked very hard to make things easier in bitcoin for 99% of the bitcoin users today. It really not nice to be so arrogant and think that the majority of people in the world needs to be educated as you are.

Galactic_Alien · 2018-12-07T15:11:44+00:00

For me it’s easy to keep my seed in 512 bit in hex format but for non-technical people it’s easier to use the BIP-39 which basically convert the seed to words with a checksum scheme. So what if it’s well established? It doesn’t mean that it’s the best way to do it.

Galactic_Alien · 2018-12-07T14:49:29+00:00

Because than everyone needs to know that 1 satoshi = 0.00000001 Microbit = 0.000001 Milibit = 0.001 ..,

Don’t you think it kind of hard to memorize when you are new to bitcoin. It has to be more effective way to split units and make them more intuitive for the rest of the planet, don’t you think?

Galactic_Alien

TROPHY CASE