How did Satoshi manage to mine so many bitcoins being the first user of the system?

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Transactions are not necessary to mine blocks.

In simple terms: mining a block = finding a hash that matches with the previous block's hash + optionally a bunch of unconfirmed transactions.

A block doesn't need to include any transactions. And if there are unconfirmed transactions, a block may include all, some, or none of them.

If there are, it's in the miner's best interest to include them all. He earns the mining fees on top of the block reward, and it doesn't make the hash computation of the new block any more difficult. So deliberately not including pending transactions = leaving free money on the table. But mining can still occur even if there are no transactions at all.

Besides, even if it was required to include transactions, Satoshi could of course have sent dummy transactions between addresss of his own (and collecting his own transaction...

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I want to share my list of faucets, that I currently use, with this community. They are all very profitable and I can confirm that all of them pay out.

Lets start with the low-timers:
getyourbitco.in - 70 Satoshi (no cooldown-avg. 5 claims/minute) - 490 -> 29000 Satoshi/hour
btcboom.xyz - 700 Satoshi every 3 minutes -> 14000 Satoshi/hour
yourbtc.xyz - 600 Satoshi every 3 minutes -> 12000 Satoshi/hour
givemebtc.xyz - 500 Satoshi every 4 minutes -> 7500 Satoshi/hour

15-minutes timer:
givemecoins.xyz - 511 Satoshi every 15 minutes -> 2044 Satoshi/hour
satoshihoard.com - 500 Satoshi every 15 minutes -> 2000 Satoshi/hour
bonusbitcoin.co - 900 Satoshi every 15 minutes -> 3600 Satoshi/hour

Few times per day claims:
get-free-bitco.in - 3000 Satoshi/6 hours -> 9000 Satoshi/day
30bitcoin.co - 500-13500 Satoshi in 4,5 hours (rising every day you claim) -> up to 72000 Satoshi/day after 30 days of claiming

So you can claim...

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Don't know what is Bitcoin? Read about BTC

here

The Bitcoin is a form of currency without notes and coins, it is a digitalcurrency.

In this era of Internet and digitization, we’ve moved from phone to VoIP calls, face-to-face meeting to video conferencing, fax to email, cable television to IP TV, and the list goes on.

Who Developed The Idea Of Bitcoins?

The concept of Bitcoins was developed by Satoshi Nakamoto, who resides in total anonymity. He is said to be from Japan but his mail ID was from Germany, plus the bitcoin software was not available in Japanese. He developed the system and the Bitcoin software (that is used to run the system) in 2009 but disappeared into thin air in 2010.

The other developers of the system stopped hearing from him in 2010, and plenty of speculation turned up about his real identity. Some even suggested that his name was just a mashup of popular Japanese companies — SAmsung TOSHIba NAKAmichi MOTOrola. But what he...

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Find answers to recurring questions and myths about Bitcoin.

Table of contents

General

What is Bitcoin?

Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence.

Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010...

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When mining began, regular off-the-shelf PCs were fast enough to generate bitcoins. That's the way the system was set up—easier to mine in the beginning, harder to mine as more bitcoins are generated. Over the last few years, miners have had to move on to faster hardware in order to keep generating new bitcoins. Today, application-specific integrated circuits (ASIC) are being used. Programmer language aside, all this means is that the hardware is designed for one specific task—in this case mining.

New faster hardware is being created by various mining start-ups at a rapid rate and the price tag for a full mining rig—capable of discovering new bitcoins on its own—currently costs in the ballpark of $12,000.

(Read more: How to make your email as stealth as Edward Snowden)

There is a way around such a hefty investment: joining mining pools. Pools are a collective group of bitcoin miners from around the globe who literally pool their computer power together to...

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The founder of Bitcoin, Satoshi Nakamoto, proposed an electronic payment framework referencing a mathematical proof. He wanted to create a currency independent from any centralized governance, that could be transferred digitally very fast in mere minutes with significantly small fees. And Bitcoin was born.

The best features of Bitcoin:

Buy anything online

You can use Bitcoin to shop online—kind of like the mainstream dollars, pounds, or euros, which are also used in transactions online.

You’re in charge, Not some bank

Arguably one of the best features of bitcoin is that its decentralized. There isn’t a single institution that controls Bitcoin’s network. It means that you’re the only one who can control your money.

Set up is a breeze

Nowadays opening a bank account is like an obstacle course, do this, sign that, do that, go there, etc., but with bitcoin, it will only take you less than a minute, no fees, and no...

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Although many of us may aspire to have an abundance of bitcoins, the truth of the matter is that it’s easier said than done. Besides converting standard currencies to bitcoins (which in theory isn’t earning them at all), there are many ways to acquire the highly sought after crypotocurrency without a cost. There’s a wide range of available options, with some being better than others. Without further ado, here are the 5 best ways to earn free bitcoins.

1.) Faucets

Although the actual payout may differ between sites, the premise for bitcoin faucets is the same. The user earns “free bitcoins” for either a small task–such as watching an advertisement or visiting a survey–or even just visiting the website. The payout is typically between 0.000001 to 0.00001 bitcoin. The amounts are often measured in satoshi or bits, but the actual currency is still bitcoin. Many faucet offer the ability for a large prize, such as a whole bitcoin. To avoid abuse of the system,...

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Are you fond of free, open source operating systems based on Linux like Ubuntu? You’re not alone. There are a lot of people who love it and they love Bitcoin at the same time. What if you want to mine some coins using these operating systems but don’t know how? We’ve got the answer for you.

A Little Bit of History

There are many such people who love these operating systems among the Bitcoin network. It is obvious because these operating systems are a sort of a symbol of the free and open Internet. A few years ago, these operating systems were considered as a good option or a competitor to Microsoft’s Windows operating systems. Probably the reason was Microsoft’s attitude to their customers and almost monopolistic control of the market. The same was with the cryptocurrency. People needed something which could replace an old and imperfect fiat monetary system and the solution had been given in 2009 by an anonymous programmer. Satoshi Nakamoto, who created and...

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What is Bitcoin

Bitcoin is worldwide digital cryptocurrency developed by Satoshi Nakamoto in 2009. You can use it as a payment method in many places. It uses the Internet for sending money, so you can send bitcoins to anybody in the world!

You can buy or sell them in many Bitcoin Markets and exchange for other (crypto)currencies.

The most important thing about Bitcoin is it's decentralization. When it comes to real paper money, Central Banks control it and can print it more. In Bitcoin World there will be no more than 21 million of BTC. That means no one can "make" more Bitcoins.

What is satoshi

Satoshi is the smallest fraction of Bitcoin. 1 satoshi is 0.00000001 BTC. But in the future, if there will be a need, 1 Bitcoin can be split in even smaller fractions. Most of Bitcoin faucets rewards users with satoshis.

Watch a movie below to see how Bitcoin works:

What is Xapo

Xapo is the most trusted bitcoin Wallet and Vault. We...

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That the block chain cannot be easily forked represents one of the central security mechanisms of Bitcoin. Given the choice between two block chains, a Bitcoin miner always chooses the longer one - that is to say, the one with the more complex hash. Thusly, it ensures that each user can only spend their bitcoins once, and that no user gets ripped off.

As a consequence of the block chain structure, there may at any time be many different sub-branches, and the possibility always exists of a transaction being over-written by the longest branch, if it has been recorded in a shorter one. The older a transaction is though, the lower its chances of being over-written, and the higher of becoming permanent. Although the block chain prevents one from spending more Bitcoins than one has, it means that transactions can be accidentally nullified.

A new block chain would leave the network...

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TL;DR version:

Bitcoin faucets are a type of website that give away small amounts of Bitcoins to their users. Faucet owners make money by placing ads on this highly engaging websites. You can build a faucet within 10 minutes by getting a Bluehost account and installing a Bitcoin faucet WordPress plugin. Oh and I’m also going to teach you how to get traffic and protect your faucet from scammers…..Sounds interesting? Here’s the full post:

Brace yourself; this is a long post :) The good news is that it’s super informative as well. This post will teach you EVERYTHING you need to know about Bitcoin faucets. If you want to quickly browse through this post, here’s what we’re going to go over:

This post was originally written on November 2015 BUT I’ve been updating it constantly to stay relevant. The main things that changes since then is that you can’t use Adsense ads on Bitcoin faucets and the price of Bitcoin has increased dramatically making it much harder to...

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Do you want to get free Bitcoins?


Enter your Bitcoin address to get started.
We will send your Bitcoins there!

Invalid addresses will be considered as a donation.

What is The BTC generator?

The BTC generator is a special faucet because YOU decide how often to claim!*

The faucet will gradually** fill up until you make a claim.
So the longer you leave it the more you will be able to claim.

You may prefer to claim a smaller amount every 5 minutes,
or visit once per day and claim the large amount that has built up while you were away!

* minimum 5 minutes between claims per account/IP address.

** very quickly initially but it will slow down over time, click here for the actual rates.

No work needed - just wait as long as you want and click!

Your balance will be paid on Sunday each week if you reach 10,000 Satoshi!

No transaction fees!

Refer and get 25% of every...

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Last Updated: 19th February 2016

Who is Satoshi Nakamoto?

While we may not know who he (or she) was, we know what he did. Satoshi Nakamoto was the inventor of the bitcoin protocol, publishing a paper via the Cryptography Mailing List in November 2008.

He then released the first version of the bitcoin software client in 2009, and participated with others on the project via mailing lists, until he finally began to fade from the community toward the end of 2010.

Nakamoto worked with people on the open-source team, but took care never to reveal anything personal about himself, and the last anyone heard from him was in the spring of 2011, when he said that he had “moved on to other things”.

But he was Japanese, right?

Best not to judge a book by its cover. Or in fact, maybe we should.

“Satoshi” means "clear thinking, quick witted; wise". “Naka” can mean “medium, inside, or relationship”. “Moto” can mean “origin”, or...

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Writer, reporter, and film producer Jim Epstein talks with EconTalk host Russ Roberts about mining Bitcoins in Venezuela as a way to import food. Venezuela is a tragicomic example of how policy can lead to strange and presumably unexpected outcomes. Epstein also discusses how Bitcoin is being used elsewhere in Latin America and the potential for the blockchain technology to lower the costs of owning and transferring property.

Right-click or Option-click, and select "Save Link/Target As MP3.

Readings and Links related to this podcast episode

Highlights



There's a bitcoin mining opportunity in the US, if you heat your house with resistive heating (as used to be common).

Every watt used for anything, fans, TVs, and in particular computers, makes the furnace run one watt less. Everything except light that escapes out the window turns into heat at a watt for watt basis.

So the furnace is only special in that it does nothing...

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