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Showing 20 of 47 results by dragospirvu75
Wow guys, I didn't expect to receive so many answers (and so complex). I've read them all, some things are too technical for me, but now I have another view on LN. Thanks to everyone for them 
I agree it's faster, cheaper and more convenient for both buyer and seller, and it's an inovative technology (& scalability problem). I was just thinking that, being a zero-sum game, the more you use lightning network, the less you use the original network, created by Satoshi, and don't contribute to that "very large transaction volume" needed for bitcoin to work as intended.
Hello everyone!
I was thinking about one thing, Satoshi once said:
"In a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume."
As far as I know, in Lightning Network transactions, miners are not paid. So, doesn't this thing affect Bitcoin Network? If miners don't get enough fees to have a decent profit, they will be likely to stop mining.
Can someone explain this situation?
I was thinking about one thing, Satoshi once said:
"In a few decades when the reward gets too small, the transaction fee will become the main compensation for [mining] nodes. I’m sure that in 20 years there will either be very large transaction volume or no volume."
As far as I know, in Lightning Network transactions, miners are not paid. So, doesn't this thing affect Bitcoin Network? If miners don't get enough fees to have a decent profit, they will be likely to stop mining.
Can someone explain this situation?
Here is a tutorial on how to set up bitcoin core to be a full node: https://academy.aax.com/en/a-step-by-step-guide-to-setting-up-a-full-node-on-the-bitcoin-network/ . This helps the network a lot. Also you can think about becoming a lightning channel to even earn some Bitcoin without the need of wasting large amounts of power.
I already run the full node, I just wanted to know if I can mine too. I will search about lightning channel. Ty.and I would like to mine,too (not for profit, just to help bitcoin network).
Since you don't have specialized hardware (ASIC), don't do it. I'd recommend to check Non-specialized hardware comparison and Mining hardware comparison to see the vast difference.
I found somewhere on internet that the command for mining is setgenerate true (1), but it doesn't work.
It's likely you found outdated article, setgenerate command removed on Bitcoin Core 0.13.0.
Too technical for me to understand the difference, thank you for your info!
Guys, maybe this question was asked before but I don't find the topic.
I downloaded Bitcoin Core to run a full node (volunteer) and I would like to mine,too (not for profit, just to help bitcoin network).
I found somewhere on internet that the command for mining is setgenerate true (1), but it doesn't work.
Any ideas? And don't tell me, please, to buy specialized hardware to mine, I'm not looking to make money, just helping the network. Thanks!
I downloaded Bitcoin Core to run a full node (volunteer) and I would like to mine,too (not for profit, just to help bitcoin network).
I found somewhere on internet that the command for mining is setgenerate true (1), but it doesn't work.
Any ideas? And don't tell me, please, to buy specialized hardware to mine, I'm not looking to make money, just helping the network. Thanks!
You're welcome, thank you too, I always read all replies on my topics. Yes, I have a new point of view of it, I understand now that's perfectly okay to use addresses only once. To me, Satoshi will always be the greatest scientist/engineer of monetary system, and I hope Bitcoin will have a mass adoption. I always pay in Bitcoin when I have the chance (common guys, we are not in 2010 anymore when bitcoins that worth 2 pizzas will bring you hundreds of millions of $ later) and run a full node, because I trully support Bitcoin. Cheers!
Thanks to you all for your time and answers (BlackHatCoiner,ranochigo,hosseinimr93,bitmover,ETFbitcoin,LoyceMobile, DireWolfM14, o_e_l_e_o, crwth, garlonicon,NotATether). I've read them all carefully, but it's hard for me to answer to each one, especially because I really don't know how to use quotes.
Bitcoin network is far more complex than I thought, really wonder if Satoshi was only one person, but this concept is brilliant.
Appreciate your explications, I've learned some new things.
To answer crwth's question ("I don't get why you are annoyed with it. Can you explain it further, OP?"):
My principle in life is to use something as much time as it's good, then recycle it to use it again etc. And I feel a bitcoin address will be good forever. And changing them at every new payment and then throwing them away forever makes me feel like a huge bitcoin-addresses-waster (although I know there can be 2^160 addreeses).
But I understand that's not a problem, because there are a lot.
Thanks for your answers!
Bitcoin network is far more complex than I thought, really wonder if Satoshi was only one person, but this concept is brilliant.
Appreciate your explications, I've learned some new things.
To answer crwth's question ("I don't get why you are annoyed with it. Can you explain it further, OP?"):
My principle in life is to use something as much time as it's good, then recycle it to use it again etc. And I feel a bitcoin address will be good forever. And changing them at every new payment and then throwing them away forever makes me feel like a huge bitcoin-addresses-waster (although I know there can be 2^160 addreeses).
But I understand that's not a problem, because there are a lot.
Thanks for your answers!
Guys, I've read all of your replies, and thank you for them. When I said waste of bitcoin addresses, I meant that I find it a big waste of addresses to change your address for every payment if they are limited (but a huge number). Like wearing a T-shirt only once for every new day, and then never use it again.
But now I've discovered from you a new problem, I didn't know that two different wallets can generate the same address. If this happens (although I know mathematically is almost 0) where do the bitcoins go? To the first wallet that created the address or what?
But now I've discovered from you a new problem, I didn't know that two different wallets can generate the same address. If this happens (although I know mathematically is almost 0) where do the bitcoins go? To the first wallet that created the address or what?