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The other side of counterfeit resistance is the ability to determine that all units that exist were created according to a predefined, predictable schedule. The proof of work minting function, plus the difficulty adjustment, takes care of this. Well — close enough. Naively assuming that blocks were meant to arrive every 10 minutes on average, Bitcoin is actually slightly ahead of schedule by 30,000 blocks or so. This is because hash power has generally increased over time, and this caused block arrival to outpace the defined schedule due the coarse granularity in the difficulty adjustment. Aside from this interesting emergent property, Bitcoin’s PoW has never been compromised, nor has the hash function been broken (and this doesn’t seem eminently likely in the foreseeable future). Verifying that the correct number of units exist is as simple as running the gettxoutsetinfo command in your Bitcoin Core node. The inherent auditability of Bitcoin and all of its derivatives is what makes deceptions like the Bitcoin Private covert inflation scandal easy to spot.bitcoin code курс bitcoin bitcoin заработать linux ethereum

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bitcoin мошенники time bitcoin Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. Litecoin was founded with the goal of prioritizing transaction speed, and that has proven an advantage as it has grown in popularity. According to data from Blockchain.info, the Bitcoin network’s average transaction confirmation time is currently just under 9 minutes per transaction (the time it takes for a block to be verified and added to the blockchain), though this can vary widely when traffic is high.10 The equivalent figure for Litecoin is roughly 2.5 minutes.11 In principle, this difference in confirmation time could make Litecoin more attractive for merchants. For example, a merchant selling a product in exchange for Bitcoin would need to wait nearly four times as long to confirm payment as if that same product were sold in exchange for Litecoin. On the other hand, merchants can always opt to accept transactions without waiting for any confirmation at all. The security of such zero-confirmation transactions is the subject of some debate.12

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