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Re: A simple bitcoin Q/A. Learn new and interesting stuff about bitcoin.
by
bill gator
on 19/02/2018, 19:17:37 UTC
Yes, Bitcoin does have a solution and it is called the proof-of-work algorithm. So to alter "the message" (a block of transactions in our case) as in the classic Byzantine Generals problem and to make it look authentic by guessing a new nonce, one would need to use more Hash Power than the entire network. Since the current Hash Rate is around 23 million TH/s, to achieve that they would need to buy 1.5 million of Antminer S9.


Btw my proposal remains in force in case you'll find it helpful.

I did not mean to ignore your proposal, but yes that would be excellent. Pugman replies to posts above (https://bitcointalk.org/index.php?topic=2968050.msg30525496#msg30525496), they even responded to you. I will run it by pugman, since it is their thread, but it should not be a problem for us to simply send you a PM when somebody needs a merit or I could keep a little list of people that need their Post # merited. This would help us keep this running without any concern, I appreciate it and accept.

That being said, yes your answer is also correct so I've given you a merit. This means do not attempt to answer the next question.




Question :

Did Satoshi write the Bitcoin Whitepaper or write the code for Bitcoin first?
Why did he choose the one he did to do first?