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Why does bitcoin have miners? Why don't the users mine their own blocks. I understand it may be to ensure the currency is traded, but in any non transaction blockchain case do you need miners or is it fine to let the users mine their own blocks?
I couldn't find any reason as to why bitcoin really needs miners other than for adding coin to the market.
The only distinction between a user and a miner is that a miner is doing computational work to get bitcoin, and a user is using bitcoin to make transactions. A user could easily do the computational work as well, but then they would just be a miner. The reason not everyone is a miner is because not everyone wants to do computational work, many just want to make transactions.
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What if a block size limit in the Bitcoin blockchain or any other blockchain is exceeded and at that time a new block isn't yet mined? I have been thinking about this lately and I haven't found any article pertaining to this.
Thanks in advance.
in the context of bitcoin ,
you are missing mempoolsize with block size,
transactions are stored in mempool which acts as a (pool obviously), miners take transactions out of the pool and put it in a block and try to ming it(find a Nounce for it)
so.
if a new block is not mined the new transactions are piling up in the mempool, miners may let the mempool to grow for a while but at somepoint they will not have the resources and would be forced to reject new transactions.
this will have a negative effect on the network, would drive down the price and disinsetivise miners to try more... slowly blockchain would die...
unless a hard fork happens
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I have been exploring bitcoin API and I found there is network fee for every transaction which is around 0.0001 but I noticed many trading and bitcoin related agencies doesn't charge any network fee at all for transfer between user on same Website/App. Few of which are cryptopia, Zebpay and localbitcoins.
Could someone help me understand that how they are able to transfer between wallet without any network fee.
Organizations that offer online wallets aren't obligated to handle transactions using the actual Bitcoin blockchain; they may instead choose to keep their own off-chain record of transactions between users. While faster and cheaper than on-chain transactions, this system is often less secure, especially since the transaction records are centralized.
Only when a user transfers Bitcoins between an external wallet would an organization utilize the blockchain; this is when a transfer would cost some network fee and take some time to process.
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I'm student and i'm working on bachelor thesis. My app uses wcf and sql database. If I want to test the application I need to host it. I would like to host it on Azure, 90 free trial, but it needs verification with credit card. I'm worried about sharing my credit cards data. I want to ask you, if it's secure and after 90 I have to pay for it or not?
Thanks
The billing and credit card information is hosted and stored by Microsoft themselves — you can look into the security of their practices in detail, but I am sure that they are okay. As long as you delete your database before the 90 days is up, you won't need to pay anything. You can still keep your subscription, just make sure that you aren't using any services. For peace of mind, check your billing on a daily basis and make sure that nothing is being recorded as running.
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Out of interest, how far can buying and selling shares be made automatic? How far do you think it can go? And what would you need to do it?
Very far.
There are real computers performing fully automated trades as we type.
I'd take a look at some trading APIs provided by E*TRADE https://us.etrade.com/e/t/activetrading/api or something similar. You can use virtually any language to call the API and execute trades, get quotes, and generate strategic algorithms.
However, a fair warning, unless you are a large corporation with lots of money to burn you need to be careful as a homegrown algorithmic trading system can be very dangerous.
I believe something like 70% of all trades on the market today are placed by computer systems automatically and not by people. It makes it harder for smaller individuals to compete because we simply don't have the financial resources to purchase the power and speed we need to compete.
Thanks,
Jeffrey Pry
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I am very curious to find out how much money an e-commerce company is making.
Is there a way or ways to find this out (apart from techcrunch.com/) ?
Thanks
It is going to depend on if the company is public or private. Obviously with public companies, their earnings/profits are published each quarter. There are also many other metrics which show how well a public company is doing (ie. stocks, dividends). This information is available from a number of places. Private companies are a bit different, as they really don't need to tell you much. One can usually infer how well they are doing to a certain degree, however this has no guarantee of being accurate.
Disclaimer: I'm a developer, not an econ or business major :)
Not sure if this is a stackoverflow question but if they are publicly traded they have to submit forms to the sec and provide them to you upon request so you can go that route. If not then you might just be out of luck.