tag:blogger.com,1999:blog-3758330678390419129.post148798404338545596..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: VIDEO Best Two Minute Technical Explanation of Bitcoin That I Have SeenRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-3758330678390419129.post-50791648852643681612017-12-18T13:21:39.107-05:002017-12-18T13:21:39.107-05:00If 51% of the nodes are unreachable the transactio...If 51% of the nodes are unreachable the transaction will be denied? If it is a majority of the reachable nodes then it becomes much easier to hack. Three reachable nodes, two of them are compromised. Of course there are middle grounds where it is a majority of reachable nodes over a large number like 1000, but that's still dependent on not having network issues. <br /><br />Yes, I understand Jimmy Joe Meekerhttps://www.blogger.com/profile/09559104650594440766noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-54566564573298344562017-12-18T07:55:55.147-05:002017-12-18T07:55:55.147-05:00Transaction fees. Right now bitcoin miners are pai...Transaction fees. Right now bitcoin miners are paid via a combination of new bitcoins and transaction fees. Once it hits the 21 million mark, they’ll be paid solely via transaction fees.Andrew Mackenziehttps://www.blogger.com/profile/16882531476612096442noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17733314229764471642017-12-17T19:07:02.357-05:002017-12-17T19:07:02.357-05:00Good question. I wonder that too.Good question. I wonder that too.Haroldhttps://www.blogger.com/profile/14957331777793155656noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-10261181137744048132017-12-17T15:15:42.676-05:002017-12-17T15:15:42.676-05:00So why is there a limit to the number of bitcoins ...So why is there a limit to the number of bitcoins that can be mined? Once we hit that limit, what incentive do miners have facilitate transactions?Luke Tuckerhttps://www.blogger.com/profile/04045943492938732723noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-8324438821000476112017-12-16T21:23:48.815-05:002017-12-16T21:23:48.815-05:00If you're talking about double spending your b...If you're talking about double spending your bitcoin, I don't think so. I'm still learning how it works, but I believe that your second (or third or fourth) transaction using the same "coins" would fail once the first transaction was confirmed. I'll readily admit that I may be misunderstanding your question and that I also have it wrong regardless. Great question, Ombibuloushttps://www.blogger.com/profile/16514449479433396650noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-7909220440211654932017-12-16T17:46:51.776-05:002017-12-16T17:46:51.776-05:00First thought: Can I arbitrage the block update la...First thought: Can I arbitrage the block update lag?<br />Capn Mikehttps://www.blogger.com/profile/08133441332228302495noreply@blogger.com