07 Sep '12, 8am

Bitcoin Mining in Plain English

Each block validates the block behind it, so if you've got 0 confirmations it means your transaction hasn't made it into a block yet. If you've got 1 confirmation it means your transaction is in the most recent block. If you've got 2 transactions it means that after your transaction made it into a block, another block was found that signed off on the block containing your transaction. At 3 transactions, the most recent block has signed off on the block before it, which in turn has signed off on the block before it, which contains your transaction and so on.This is important because once a newer block has signed off on the block before it, you can't change that old block without invalidating every block after it. If I want to rewrite the most recent block it's astronomically difficult, but still technically possible, to do so. The deeper each block is buried in the chain, t...

Full article: http://news.ycombinator.com/item?id=4488047

Tweets

Bitcoin Mining in Plain English

Bitcoin Mining in Plain English

codinginmysleep.com 07 Sep '12, 7am

The hashes aren't just to make life difficult for the miners. Because it takes so much computing power to find a hash that...

David Perry - Bitcoin Mining In Plain English #...

bitcoinminer.com 07 Sep '12, 7pm

David Perry - Bitcoin Mining In Plain English A blog post by David Perry (@KJ6CCZ ) gives a thorough explanation of how mi...

David Perry - Bitcoin Mining In Plain English #...

bitcoinnews.com 07 Sep '12, 9pm

David Perry - Bitcoin Mining In Plain English A blog post by David Perry (@KJ6CCZ ) gives a thorough explanation of how mi...

I earn over 500 bitcoin/month by mining on a bo...

reddit.com 08 Sep '12, 3pm

Can you provide details on the actual cpu or gpu share you are utilizing? Is this your botnet, an "in the know" botnet, or...

a Botnet herder mining Bitcoin #bitcoin

reddit.com 09 Sep '12, 10am

Do not use URL shortening services: always submit the real link. News articles that do not contain the word "Bitcoin" are ...

Another edition of the "In Plain English" series: Cold storage - how to keep your #bitcoin as safe as cash.

Another edition of the "In Plain English" serie...

codinginmysleep.com 16 Sep '12, 8pm

One of the bigger benefits Bitcoin has is its cash-like nature. People are used to cash, they understand cash much better ...

OPINION: Improving English in schools - Seah Ch...

OPINION: Improving English in schools - Seah Chiang Nee Malaysia Star, 8 Sep 2012 Recently a reader wrote to The Straits T...

Most likely the longest article I've ever write...

mining.bitcoin.cz 11 Sep '12, 2am

Getwork had come as an easy solution for building standalone miners (do you remember when the official Bitcoin client was ...

Can I see all transactions not included in a bl...

bitcoin.stackexchange.com 04 Sep '12, 12am

Is there an easy way to search all the transactions? How do I sort the output of listtransactions “*”? Is the timestamp in...

Joel Falconer - Bitcoin Growing, "Anything but ...

bitcoinnews.com 03 Sep '12, 8pm

”Developer and Bitcoin evangelist Julian Noble pointed out, in an interview with TNW, a number of legitimate ways Bitcoin ...

#English is a weird #language

vincentchow.net 09 Sep '12, 10am

I found this to be rather naive. It would take the most simple research to find out why each of these examples are the way...

Theft forces Bitcoin firm offline

bbc.co.uk 05 Sep '12, 12pm

5 September 2012 Last updated at 13:06 Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Bitc...

Theft forces Bitcoin firm offline

bbc.co.uk 05 Sep '12, 12pm

5 September 2012 Last updated at 13:06 Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Bitc...

BTC Canada - Canada's Only Bitcoin Mining Pool!...

bitcointrading.com 28 Aug '12, 1am

With my first post, I'd like to introduce myself and announce my brand new Bitcoin mining pool - BTC Canada ! As our pool ...