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Showing 7 of 7 results by genesis2020
I've downloaded the Bitcoin source code and compiled it successfully. I've now got Bitcoin-QT running and synchronising transactions. In the meantime, I thought I'd have a play with the cli but when I run bitcoin-cli on the command line (I'm running Windows 10 by the way), I get the following error:
I'm not sure if I need to specify a port (if so, how?) or whether its because the bitcoin-qt is running and not bitcoind.exe? Or is there likely to be some other issue?
Thanks
Code:
error: Could not connect to the server 127.0.0.1:8332 (error code 1 - "EOF reached")
Make sure the bitcoind server is running and that you are connecting to the correct RPC port.
Make sure the bitcoind server is running and that you are connecting to the correct RPC port.
I'm not sure if I need to specify a port (if so, how?) or whether its because the bitcoin-qt is running and not bitcoind.exe? Or is there likely to be some other issue?
Thanks
Connecting a hardware wallet to an exchange & transacting
Now I've 'upgraded' from Coinbase to Coinbase Pro, I'm officially an expert trader ( 
). In all seriousness though, as I get more into Bitcoin I think I should buy a hardware wallet sooner rather than later rather than leave all my funds on the exchange. How though, in practical terms, does this work?
Do I purchase my HW Wallet which, I assume, will give me an address for that wallet. Do I then withdraw (send) all my funds from Coinbase Pro to this wallet address, incurring a transaction fee? Or is there some other way? How then, in future, do I purchase more? Do I repeat the pattern, buying through something like CBP and then sending them to my HW Wallet, or is there a better way?
Thanks in advance for all information
). In all seriousness though, as I get more into Bitcoin I think I should buy a hardware wallet sooner rather than later rather than leave all my funds on the exchange. How though, in practical terms, does this work?Do I purchase my HW Wallet which, I assume, will give me an address for that wallet. Do I then withdraw (send) all my funds from Coinbase Pro to this wallet address, incurring a transaction fee? Or is there some other way? How then, in future, do I purchase more? Do I repeat the pattern, buying through something like CBP and then sending them to my HW Wallet, or is there a better way?
Thanks in advance for all information
I get market forces, supply and demand etc, but I'm thinking more at a practical level here.
Correct my n00b understanding if it is wrong, but there is a single distributed ledger (Blockchain) which is the Bitcoin implementation. There are nodes which maintain this network and miners which process the transactions. Then there are exchanges which allow you and I to purchase Bitcoin mined on the platform from, I assume, the miners. So at a practical level is is a case that:
Thanks, and merry Christmas to all
Correct my n00b understanding if it is wrong, but there is a single distributed ledger (Blockchain) which is the Bitcoin implementation. There are nodes which maintain this network and miners which process the transactions. Then there are exchanges which allow you and I to purchase Bitcoin mined on the platform from, I assume, the miners. So at a practical level is is a case that:
- The exchanges purchase a bulk lots of Bitcoin that they can sell on there exchange, or do they have a list of traders/wallets willing to sell that they transact with when I click the buy button?
- Do the miners somehow set a 'reserve' price at which they are willing to sell, or is the price of one BitCoin defined somewhere else by someone else?
- How do the various exchanges determine the price? Whats to stop one exchange selling at $5000 and another for $3000? How do they synchronise their pricing and why do they differ slightly?
Thanks, and merry Christmas to all
Hello,
I have a little problem now. I have revolut credit card but i cannot find place to buy BTC. I tried coinbase, kucoin, but those are forbidened.
so any suggsestions from revolut users?
I saw Paxful accept Revolut, but there is 4%-6% Higher price.
I have a little problem now. I have revolut credit card but i cannot find place to buy BTC. I tried coinbase, kucoin, but those are forbidened.
so any suggsestions from revolut users?
I saw Paxful accept Revolut, but there is 4%-6% Higher price.
If you look in the app, go to accounts > details you will see the account number and sort code for your account. You can just use BACS to send (and receive) money to Coinbase, thus avoiding the credit/debit card charges. Thats what I've done and it worked well
Re: Help me understand how to read the blockchain transaction history..
Thanks, its still a bit technical for me 
Lets say I want to send 0.05 BTC from my Coinbase wallet to my friend who has a Bitpay wallet. Will this show up on the blockchain as one transaction with one input (my public address) and one output (friend's public address)?
Lets say I want to send 0.05 BTC from my Coinbase wallet to my friend who has a Bitpay wallet. Will this show up on the blockchain as one transaction with one input (my public address) and one output (friend's public address)?
The following analogy is not perfect, but it will get you started down a path of understanding. There are a few more details to understand beyond the scope of the analogy, so don't get too caught up in the specifics...
Think of your bitcoin wallet as an actual physical wallet. When someone pays you, think of that as them handing you a physical bill that you put into your physical wallet.
So, Alice pays you a $5 bill. Then, Bob pays you a $10 bill. Then Carl pays you a $5 bill.
All together, you've received a total of $20, but what do you actually now have in your wallet? Do you have a single $20 bill? Or do you have a single $10 bill and two $5 bills?
Now, lets say you want to pay David $14? You have to pull out two separate bills (the $10 and a $5). That's two inputs into your transaction to David, however, David gives you $1 back for your wallet.
The way Bitcoin works is similar to this (except the recipient doesn't send the change back, instead the sender creates the change when they create the transaction).
Every time you receive a payment (regardless of whether it is to the same address or a different address) the transaction paying you creates a new separate output that represents that payment.
Then when you want to make a payment, you need to choose from all the previous outputs that you received. You need to choose enough of these separate outputs so that the sum of their value is at least the amount that you are trying to pay. Each output that you choose gets listed as an input in the transaction that you are creating. Then if the sum of all those inputs happens to be more than the amount you are trying to send, the transaction needs to create two new outputs, one for the value of the payment that you are sending, and another for the extra so that it can be added back to your wallet.
Note that it is possible to create a single transaction that pays multiple people. So, if I want to pay Alice 0.1 BTC, and I want to pay Bob 0.2 BTC, and I want to pay Carl 0.3 BTC, and I have two outputs in my wallet each worth 0.5BTC, then I can create and send a transaction that has two inputs each valued at 0.5 BTC (for a total input value of 1 BTC), and has FOUR outputs (one for each person I'm paying plus an additional output worth 0.4 BTC back into my own wallet).
I cant merit as I'm too new I think, but just wanted to say thanks for the excellent explanation.
Thanks for the prompt reply. I transferred all my funds to Coinbase via BACS so there were no fees there or foreign currency fees. It was literally purchase fees that Coinbase charge to enact the transaction. I get that's how they make money for the service they provide, and I'm fine with that. However, long term its not a feasible way of transacting.
How does the P2P transacting work then in a practical sense? How would one go about purchasing Bitcoin via P2P? What tools, site(s), method would someone follow?
Dont worry, I'm not going to jump in and do it, I'm just trying to understand how it all works
How does the P2P transacting work then in a practical sense? How would one go about purchasing Bitcoin via P2P? What tools, site(s), method would someone follow?
Dont worry, I'm not going to jump in and do it, I'm just trying to understand how it all works
Im just getting started with Blockchain, Cryptocurrency and Bitcoin in general. To 'get my feet wet' I thought it would be a good learning exercise to actually invest in some currencies, including bitcoin, so I created a CoinBase account and bought into several currencies in the top 10, the majority of my admittedly small investment was Bitcoin.
However, this incurred large transaction fees (£3 each time, totalling over £20 when you factor in the different currencies I bought bits of) which, to me, is not sustainable. I've been reading blog posts and listening to lots of podcasts where they talk about traders doing dozens or even hundreds of transactions a day. The economics of this aren't feasible unless you're making massive gains which is unlikely in the current market.
My question, therefore, is how to the established Bitcoin traders (and those on other currencies) transact to reduce/eliminate these high fees? I'm not concerned about the cost that I've incurred to date; to me this was just out of my training budget so to speak as it gave me practical experience of buying Bitcoin. Its more for my understanding and potential in the future.
Thanks
However, this incurred large transaction fees (£3 each time, totalling over £20 when you factor in the different currencies I bought bits of) which, to me, is not sustainable. I've been reading blog posts and listening to lots of podcasts where they talk about traders doing dozens or even hundreds of transactions a day. The economics of this aren't feasible unless you're making massive gains which is unlikely in the current market.
My question, therefore, is how to the established Bitcoin traders (and those on other currencies) transact to reduce/eliminate these high fees? I'm not concerned about the cost that I've incurred to date; to me this was just out of my training budget so to speak as it gave me practical experience of buying Bitcoin. Its more for my understanding and potential in the future.
Thanks