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Merge pull request #636 from bitcoin/bits
Add mentions and definitions for bits
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b9a6c105a1
7 changed files with 25 additions and 20 deletions
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@ -135,14 +135,14 @@ him thousands of satoshis in transaction fees, so Alice suggests they use a
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[micropayment channel][]{:#term-micropayment-channel}{:.term}.
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Bob asks Alice for her public key and then creates two transactions.
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The first transaction pays 100 millibits to a P2SH output whose
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The first transaction pays 100 millibitcoins to a P2SH output whose
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2-of-2 multisig redeem script requires signatures from both Alice and Bob.
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This is the bond transaction.
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Broadcasting this transaction would let Alice hold the millibits
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Broadcasting this transaction would let Alice hold the millibitcoins
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hostage, so Bob keeps this transaction private for now and creates a
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second transaction.
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The second transaction spends all of the first transaction's millibits
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The second transaction spends all of the first transaction's millibitcoins
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(minus a transaction fee) back to Bob after a 24 hour delay enforced
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by locktime. This is the refund transaction. Bob can't sign the refund transaction by himself, so he gives
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it to Alice to sign, as shown in the
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@ -155,14 +155,14 @@ future, signs it, and gives a copy of it back to Bob. She then asks Bob
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for the bond transaction and checks that the refund transaction spends
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the output of the bond transaction. She can now broadcast the bond
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transaction to the network to ensure Bob has to wait for the time lock
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to expire before further spending his millibits. Bob hasn't actually
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to expire before further spending his millibitcoins. Bob hasn't actually
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spent anything so far, except possibly a small transaction fee, and
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he'll be able to broadcast the refund transaction in 24 hours for a
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full refund.
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Now, when Alice does some work worth 1 millibit, she asks Bob to create
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Now, when Alice does some work worth 1 millibitcoin, she asks Bob to create
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and sign a new version of the refund transaction. Version two of the
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transaction spends 1 millibit to Alice and the other 99 back to Bob; it does
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transaction spends 1 millibitcoin to Alice and the other 99 back to Bob; it does
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not have a locktime, so Alice can sign it and spend it whenever she
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wants. (But she doesn't do that immediately.)
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@ -181,7 +181,7 @@ near the time lock expiry, she could be cheated out of her payment.
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Transaction malleability, discussed above in the Transactions section,
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is another reason to limit the value of micropayment channels.
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If someone uses transaction malleability to break the link between the
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two transactions, Alice could hold Bob's 100 millibits hostage even if she
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two transactions, Alice could hold Bob's 100 millibitcoins hostage even if she
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hadn't done any work.
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For larger payments, Bitcoin transaction fees are very low as a
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@ -223,7 +223,7 @@ of them can steal the others' satoshis.
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Each contributor looks through their collection of Unspent Transaction
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Outputs (UTXOs) for 100 millibits they can spend. They then each generate
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Outputs (UTXOs) for 100 millibitcoins they can spend. They then each generate
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a brand new public key and give UTXO details and pubkey hashes to the
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facilitator. In this case, the facilitator is AnonGirl; she creates
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a transaction spending each of the UTXOs to three equally-sized outputs.
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@ -233,7 +233,7 @@ AnonGirl then signs her inputs using `SIGHASH_ALL` to ensure nobody can
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change the input or output details. She gives the partially-signed
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transaction to Nemo who signs his inputs the same way and passes it
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to Neminem, who also signs it the same way. Neminem then broadcasts
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the transaction to the peer-to-peer network, mixing all of the millibits in
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the transaction to the peer-to-peer network, mixing all of the millibitcoins in
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a single transaction.
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As you can see in the illustration, there's no way for anyone besides
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@ -145,9 +145,9 @@ You must pay by: 2014-04-01 at 23:00 UTC
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{% autocrossref %}
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Indicating the [denomination][]{:#term-denomination}{:.term} is critical. As of this writing, all popular
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Indicating the [denomination][]{:#term-denomination}{:.term} is critical. As of this writing, popular
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Bitcoin wallet software defaults to denominating amounts in either [bitcoins][]{:#term-bitcoins}{:.term} (BTC)
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or [millibits][]{:#term-millibits}{:.term} (mBTC). Choosing between BTC and mBTC is widely supported,
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, [millibitcoins][]{:#term-millibitcoins}{:.term} (mBTC) or microbitcoins (uBTC, "[bits][]{:#term-bits}{:.term}"). Choosing between each unit is widely supported,
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but other software also lets its users select denomination amounts from
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some or all of the following options:
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@ -155,8 +155,8 @@ some or all of the following options:
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|-------------|---------------------|
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| 1.0 | bitcoin (BTC) |
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| 0.01 | bitcent (cBTC) |
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| 0.001 | millibit (mBTC) |
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| 0.000001 | microbit (uBTC) |
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| 0.001 | millibitcoin (mBTC) |
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| 0.000001 | microbitcoin (uBTC, "bits") |
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| 0.00000001 | [satoshi][]{:#term-satoshi}{:.term} |
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{% endautocrossref %}
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@ -576,7 +576,7 @@ Will be rounded up to the nearest satoshi (0.00000001).
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{% autocrossref %}
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Set the transaction fee per kilobyte to 100,000 satoshis (1 millibit).
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Set the transaction fee per kilobyte to 100,000 satoshis (1 millibitcoin).
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{% endautocrossref %}
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@ -6,6 +6,7 @@
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[base58Check]: /en/developer-reference#term-base58check "The method used in Bitcoin for converting 160-bit hashes into Bitcoin addresses"
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[bitcoin URI]: /en/developer-guide#term-bitcoin-uri "A URI which allows receivers to encode payment details so spenders don't have to manually enter addresses and other details"
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[bitcoins]: /en/developer-guide#term-bitcoins "A primary accounting unit used in Bitcoin; 100 million satoshis"
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[bits]: /en/developer-guide#term-bits "0.000001 bitcoins (100 satoshis)"
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[block]: /en/developer-guide#term-block "A block of transactions protected by proof of work"
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[blocks]: /en/developer-guide#term-block "Blocks of transactions protected by proof of work"
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[block chain]: /en/developer-guide#block-chain "A chain of blocks with each block linking to the block that preceded; the most-difficult-to-recreate chain is The Block Chain"
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@ -34,7 +35,7 @@
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[confirmations]: /en/developer-guide#term-confirmation "The number of blocks which would need to be modified to remove or modify a transaction"
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[consensus]: /en/developer-guide#term-consensus "When several nodes (usually most nodes on the network) all have the same blocks in their locally-validated block chain."
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[consensus rules]: /en/developer-guide#term-consensus-rules "The block validation rules that full nodes follow to stay in consensus with other nodes."
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[denomination]: /en/developer-guide#term-denomination "bitcoins (BTC), bitcents (cBTC), millibits (mBTC), microbits (uBTC), or satoshis"
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[denomination]: /en/developer-guide#term-denomination "bitcoins (BTC), bitcents (cBTC), millibitcoins (mBTC), bits (uBTC, microbitcoins), or satoshis"
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[difficulty]: /en/developer-guide#term-difficulty "A number corresponding to the target threshold which indicates how difficult it will be to find the next block"
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[dns seed]: /en/developer-guide#term-dns-seed "A DNS server which returns IP addresses of full nodes on the Bitcoin network to assist in peer discovery."
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[double spend]: /en/developer-guide#term-double-spend "Attempting to spend the same satoshis which were spent in a previous transaction"
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@ -67,7 +68,7 @@
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[message]: /en/developer-guide#term-message "A parameter of bitcoin: URIs which allows the receiver to optionally specify a message to the spender"
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[merkle root]: /en/developer-guide#term-merkle-root "The root node of a merkle tree descended from all the hashed pairs in the tree"
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[merkle tree]: /en/developer-guide#term-merkle-tree "A tree constructed by hashing paired data, then pairing and hashing the results until a single hash remains, the merkle root"
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[millibits]: /en/developer-guide#term-millibits "0.001 bitcoins (100,000 satoshis)"
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[millibitcoins]: /en/developer-guide#term-millibitcoins "0.001 bitcoins (100,000 satoshis)"
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[mine]: /en/developer-guide#term-miner "Creating Bitcoin blocks which solve proof-of-work puzzles in exchange for block rewards and transaction fees"
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[miner]: /en/developer-guide#term-miner "Creators of Bitcoin blocks who solve proof-of-work puzzles in exchange for block rewards and transaction fees"
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[miners]: /en/developer-guide#term-miner "Creators of Bitcoin blocks who solve proof-of-work puzzles in exchange for block rewards and transaction fees"
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