Bitcoin - Hardware & Software

So, I have a legitimate question. As far as I know, all your bitcoins are stored in a "wallet" file, and transactions aren't traced (peer to peer). What's to stop me having 1 bitcoin in my wallet, and copying and pasting the file to get multiple wallets with one coin in?

Cause it won't be verified with the rest of the bitcoin network.

[QUOTE='[EG] Pepper;39244585']Cause it won't be verified with the rest of the bitcoin network.[/QUOTE] I'm not trying to argue, but I thought the bitcoin system had no central exchange. Say I duplicate my wallet file, and pay 1 bitcoin to Person A. I then use the duplicate file and pay 1 bitcoin to Person B. Does person B talk to person A to find out that the bitcoin has already been used?

[QUOTE=rhx123;39244710]I'm not trying to argue, but I thought the bitcoin system had no central exchange. Say I duplicate my wallet file, and pay 1 bitcoin to Person A. I then use the duplicate file and pay 1 bitcoin to Person B. Does person B talk to person A to find out that the bitcoin has already been used?[/QUOTE] yeah, transfers aren't instant, the transfer needs to be verified and such. If you tried to transfer a bitcoin that you didn't own it would be rejected.

[QUOTE=rhx123;39244710]I'm not trying to argue, but I thought the bitcoin system had no central exchange. Say I duplicate my wallet file, and pay 1 bitcoin to Person A. I then use the duplicate file and pay 1 bitcoin to Person B. Does person B talk to person A to find out that the bitcoin has already been used?[/QUOTE] Because that's not how it works. I'll try to muster up a snappy explanation to it. To begin to understand bitcoin you have to know about public key crypto. Unlike symmetric encryption where the same key can be used to encrypt and decrypt the same data, public key crypto uses asymmetrical keys. The private key is the one you guard with your life. The public key is used to calculate your bitcoin address. The public key can be derived from the private key but not vice versa. The private key is a very large number, in the case of bitcoin, which uses the ECDSA curve secp256k1, the private key is a 256 bit integer and the public key is two 256 bit ints, one for the x coordinate, the other for the y. If you have a bit of data (like a raw transaction) you can sign it with your private key. You can then publish this data, along with the signature and anyone that has your public key can verify that this data was indeed signed with that private key. This is what other nodes do as they relay your transaction - they make sure you indeed are entitled to these funds based on the signature you attach alongside the tx you broadcast. And because Bitcoins are tied to a bitcoin address once you send them off on their merry way to another address they're now spendable by the person who controls the corresponding private key.

How much money can I generate in a month with a Q6600? (Bitcoin Mining)

CPU mining sucks major cock. Just don't.

[QUOTE=Killervalon;39266396]How much money can I generate in a month with a Q6600? (Bitcoin Mining)[/QUOTE] Fuck all.

[QUOTE='[EG] Pepper;39267113']Fuck all.[/QUOTE] lolwat? I was just asking, I know GPU mining is waaaaaaaaaaay quicker. I was just thinking if I could use some excess resources on my server ^^

[QUOTE=Killervalon;39267689]lolwat? I was just asking, I know GPU mining is waaaaaaaaaaay quicker. I was just thinking if I could use some excess resources on my server ^^[/QUOTE] At the current generation rate, you might be lucky to even get 0.1 bitcoins per month using that 6600. It's not worth it at all to mine them using CPU and definitely not with an old one like yours

[QUOTE=B!N4RY;39267717]At the current generation rate, you might be lucky to even get 0.1 bitcoins per month using that 6600. It's not worth it at all to mine them using CPU and definitely not with an old one like yours[/QUOTE] GTS 250 ?

[QUOTE=Killervalon;39268187]GTS 250 ?[/QUOTE] Also stay away from nVidia cards when it comes to bitcoins. They're slow at SHA. Use this page for your own reference: [url]https://en.bitcoin.it/wiki/Mining_hardware_comparison[/url]

[QUOTE=Killervalon;39268187]GTS 250 ?[/QUOTE] Also shit. Mining with either of those will cost you more in power than you can generate in bitcoins.

Didn't really plan on it unless it was actually worth it (which I assumed it didn't), just in theory though.

[QUOTE=mblunk;37348210]Yes, ASIC devices will boost the difficulty when widely adopted, but assuming they launch on time in October and BFL's numbers are right, they'll pay themselves off in months and continue working for years, though of course they won't be worth so much by then. Safe, got it. If you're considering bitcoin and you're looking for a safe investment, you're in the wrong place, I don't think there's ever been any doubt about this. And I only talked about stocks because that was your example is all.[/QUOTE] [quote] but assuming they launch on time in October and BFL's numbers are right[/quote] BFL's rigs were just delayed again and at CES their "demo unit" was just a box of fans with a nexus 7 tablet taped to it i move we make this a mock thread because lol

I hate to bump after so long, but I just started mining and I'm getting incredibly slow hash rates. Hopefully someone can help me optimize GUIminer or whatever is wrong so I don't mine so slow. Currently mining at (Three cores in use) 2.1 Mhash/s Specs - [url]http://i948.photobucket.com/albums/ad326/Nic_man/cpu1_zpse9dc29de.jpg[/url] [url]http://i948.photobucket.com/albums/ad326/Nic_man/cpu2_zpse2686e3c.jpg[/url] [url]http://i948.photobucket.com/albums/ad326/Nic_man/cpu3_zpsf17dafa4.jpg[/url] I can get more screenshots if requested. Thank you, to anyone who can help.