Bitcoin Q&A: What are “bitcoin days destroyed”?

Bitcoin Q&A: What are “bitcoin days destroyed”?

On “bitcoin days destroyed,” Grinners asks, “Bitcoin days destroyed is calculated by taking… the number of bitcoins multiplied by the number of days since those coins were last spent.”‘ “What is the significance of this? What does this actually tell us?” It gives us an idea of the maturity of coins, how often coins are […]

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Bitcoin Q&A: Spam transactions and the fee market

Bitcoin Q&A: Spam transactions and the fee market

“What are your thoughts on VeriBlock being responsible for one quarter of bitcoin transactions in January…” “by using the OP_RETURN script for proof-of-proof?” This is a question from Jonathan. I am not familiar with the case of VeriBlock, but nevertheless… Let’s assume that is an accurate representation and VeriBlock is using a quarter of bitcoin […]

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Ethereum Q&A: Governance trade-offs in decentralised systems

[AUDIENCE] I was wondering if you could say a few words on governance.One thing that has happened a lot in both ecosystems in the past year have been…We have allowed skeptics in the media to latch on to the failures in decentralized systems in public debates.People say, “If it is decentralized, how come a few […]

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Ethereum Q&A: Does Ethereum compete against Bitcoin?

Ethereum Q&A: Does Ethereum compete against Bitcoin?

[AUDIENCE] What do you think about Ethereum?[ANDREAS] You know, I have never been asked that question in Brazil yet. [Laughter]It only comes up at every meeting… I am very interested in Ethereum.I have watched the developments closely from the very beginning.I have written smart contracts, and I continue to work in Ethereum.I think Ethereum is […]

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Bitcoin Q&A: What will Bitcoin Core 1.0 look like?

Bitcoin Q&A: What will Bitcoin Core 1.0 look like?

“What would Bitcoin Core 1.0 look like? I believe Satoshi first ran bitcoind 0.1.” “With all of the years [behind it] so far, any ideas about what Bitcoin Core 1.0 could possibly look like?” Right now, we are at version 0.17. I don’t know of any plans to move from the sub-version numbering to 1.0 […]

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Ethereum Q&A: Does Ethereum compete against Bitcoin?

[AUDIENCE] What do you think about Ethereum?[ANDREAS] You know, I have never been asked that question in Brazil yet. [Laughter]It only comes up at every meeting… I am very interested in Ethereum.I have watched the developments closely from the very beginning.I have written smart contracts, and I continue to work in Ethereum.I think Ethereum is […]

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Ethereum Q&A: Programmable Money, Smart Contracts and DAOs

[ANDREAS] This is the internet of money. It is not just money for the internet.Once you realize that, you can build applications on top of this. Currency is just the first application.It is like email on the internet: good enough to change the world and [attract] everyone to adopt the internet.[INTERVIEWER] It is just the […]

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Ethereum Q&A: We are all blockchain weirdos

Ethereum Q&A: We are all blockchain weirdos

[AUDIENCE] Hi Andreas. I will try to not fan-boy out here. [Laughter] Quick question. I’m in the space since 2016.Since the last influx [of new people in] 2017, I feel like there was a movement [of debate]…about Bitcoin versus Ethereum.I personally appreciate their differences. I like them both individually for what they are.However, I feel […]

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Bitcoin Q&A: How do payment channels work?

“Can you explain the Lightning Network and how payment channels with ‘locked’ funds work?”Yes. Let’s start with payment channels.Payment channels are [opened from]…transactions on the Bitcoin network that lock funds in a 2-of-2 multi-signature address.If I have a payment channel with Alice, that has [bitcoin] locked [in a multi-sig with one key from each of […]

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