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Friday, October 20, 2017

Terms In Cryptocurrency (Part 2)

This is Terms in Cryptocurrency (Part 2)

Doing buying activity on bitcoin exchanger sites

Transaction block

A collection of transactions on a bitcoin network, collected into a block that can then be hashed and added to the block chain.

Transaction fee

Small fees charged on some transactions sent through the bitcoin network. The transaction fee is charged to the successful miner performing the hash on the block containing the transaction.


1 microbitcoin (0.000001 BTC)

Vanity Address

A bitcoin address with the desired pattern, for example using a name.

Virgin bitcoin

Bitcoins are purchased as rewards for mining a block. Bitcoin-bitcoin has never been issued anywhere.

An altcoin designed to provide an alternative to traditional domain names (DNS) systems. Users can register a .bit domain, which can be accessed via proxy server, by paying using namecoin.


stands for Original Post, if in indo better known as TS or thread starter, which means the creator thread or first post

Orphan block

Blocks that are not part of a valid block chain, but are part of the removed fork. (see also explanation of Fork)


See peer-to-peer


Unenthral (decentralized) interactions that occur between at least two parties in highly interconnected networks. An alternate system of hub-and-spoke arrangements, in which all participants agree to relate to each other through a single point of mediation.


Altcoin which uses SHA-256 algorithm.


It is a false invesory mode that pays profit to the investors from their own money or money paid by the next investor, not from the profits earned by the individual or organization running the operation.

PO (payout)

Payment of a mining / hyip / PTC site etc into our account


A set of client-mining clients that together mine a certain block, and then divide the acquisition of the mining proceeds between them. Mining Pool is a useful way to increase your chances of successfully mining a particular block amidst increasing difficulty of mining.


Abbreviation for Peercoin currency.

Proof of Stake (PoS)

Represents an alternative proof of work, in which stocks in a currency (the number of currencies you hold) are used to calculate the amount of currency you can mine.

Proof of work (PoW)

A system that links mining capability to computing power. Blocks that must be hashed are, in essence, an easy computation process, but additional variables are then added to the hash process to make it more difficult. When a block is successfully ished, a hash process will take up some computational time and effort. Therefore, a successful hashed block can be considered a proof of work. or directly here


Abbreviation of Payment Service Provider. PSP offers payment processing services for merchants who want to receive payments online.

Public key

Alphanumeric strings are publicly known, and are hashed with other strings, ie strings stored privately and used to sign a digital communication. An example in the case of bitcoin, the public key is the bitcoin address.

Pump and dump

Inflate the value of financial assets that have been produced or obtained cheaply, using aggressive publications and often misleading reports. Publications cause others to acquire assets, with imposed values. When the value is high enough, the offender sells their assets, cashing in and flooding the market, causing its value to be destroyed.

QR Code

Two-dimensional graphical blocks containing monochromatic patterns that represent the sequence of data. QR Code is designed to be scanned by a camera, including cameras found on mobile phones, and often used to encode bitcoin addresses.


in the bitcoin world Ripper is often interpreted Fraudsters


Return on investment roi commonly used in the mining world which means the return of the amount of bitcoin we obtained from the results of an investment


An alternative proof of work for SHA-256, designed to be very friendly to miners using CPU and GPU, while offering little advantage for ASIC miners.


A digital digest is generated through a private hash process and public key together to prove that a single bitcoin transaction is coming from a particular address.

Sig Camp

stands for Signature Campaign, which is one of the facilities in Bitcointalk, which allows users to advertise under their posts, usually certain websites that provide the code, for varying pay

Silk Road

An underground online market, commonly used for the purchase of goods or forbidden objects, is often done using cryptocurrency such as bitcoin. Silk Road was closed in early October 2013 by the FBI after its owner Ross Ulbricht was arrested.


The cryptographic function used as the basis of the proof of work bitcoin system.

WD (withdraw)

Bitcoin transfer process from mining / hyip / PTC accounts etc into bitcoin wallet

Terahashes / sec

The number of hashes that can be worked out in seconds, measured in trillions of hashes (thousands of Gigahashes).


An anonymous routing protocol, used by people who want to hide their identity online.


Measurement of price movements over time for traded financial assets (including bitcoins).


A method to store coins for future use. A wallet stores a private key associated with a particular address. The block chain is the record of the number of coins associated with those addresses.

Wire Transfer

Transfer money electronically from one person to another. Usually used to send and take fiat money from the coin exchange.


A protocol designed to make cryptocurrency transactions is completely anonymous.

Zero-confirmation Transaction

Transactions in which the merchant is happy to deliver the product or service before the coin transmission is confirmed by the miner and added to the block chain. This has the risk of double spending.

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