Post
Topic
Board Bitcoin Technical Support
Re: Why havent my bitcoins confirmed through blockchain after 24 hours?
by
joeyjojoshb
on 26/05/2017, 23:24:04 UTC


Wow thank you for this reply.  Very well thought out.  My humble gratitude for the explanations.  From my understanding of the white paper the mining of the coin is the actual reverse decryption of the elliptical curve cryptographic values until a key is found.  When the first bitcoin was created it was done from the original genesis block and was signed and this transaction was made.  So the processing of the transactions is not "mining" as it were.  It is simply a transfer, signing a transaction and generating new keys, there is no reverse crunching of numbers on the SHA-256 EC algorithm.  

You have probobly been the most informed person on the actual IDEA and substance of what a bitcoin is as I have ever found.  Most coders and dev's really dont even know what it is.  They can understand the code but what it is doing is not clear.

I still think that the dev's could fix the transaction wait problem as the value of bitcoin becomes exponential.   I am not too sure on the split of the dev's ideas which you are talking about , BU and BC.  BC is to me the only bitcoin.  bitcoin.org.  This forum is apart of that.  For the codebase to split or fork and the fork to live and be supported would be disasterous for bitcoin.  With a previous fork the price fell to nothing.