Practical lecture 2

Question 1

How does Satoshi dice work?

Answer 1

1) pick your odds
2) select bet amount
3) every odds has separate bitcoin address, send your bitcoin cash to this address

Question 2

How do you win satoshi dice?

Answer 2

if you roll lower tan you predict.

Question 3

What determines your dice number?

Answer 3

hash your transaction ID used to send Bitcoin with Satoshidice “secret”. First 4 alphanumeric characters in hex representation.

Question 4

What is the most common software used by bitcoin?

Answer 4

Bitcoin core

Question 5

What is the most common use of bitcoin core

Answer 5

a bookkeeping function

Question 6

What would you have to do if you wanted to send 1 bitcoin of your 6.25 mined?

Answer 6

create a transaction sending 1BTC to target recipient and 5.25 to yourself, cannot be split before transaction

Question 7

What is the definition of a transaction in bitcoin?

Answer 7

Payment instructions of UTXO’s from one address to another

Question 8

How do you determine how many bitcoin confirmations are enough?

Answer 8

size of the payment, bigger it is, more confirmations needed

Question 9

when would you use a mobile wallet?

Answer 9

For convenience

Question 10

when would you use a hardware wallet?

Answer 10

to keep funds safe