Fire Coin Wallet with bitcoin can't be used as miner's fee

1.

Fire coin is a bitcoin trading platform. As of the end of 2016, the accumulated turnover of fire coin reached 200 billion yuan

bitcoin is a virtual encrypted digital currency in the form of P2P

Bitcoin is different from all currencies. Bitcoin does not rely on a specific currency institution. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses the design of cryptography to ensure the security of all aspects of currency circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction

extended information:

fire coin business

1. Fire coin global station, headquartered in Singapore, provides digital asset trading and investment services

2. The digital asset trading platform based on Korean won provides digital asset trading services

3, China, has become a platform for information and research in vertical chain of block chain, providing regional chain technology research and application information for Chinese mainland users, and integrates services such as instry consultation, research and ecation training. p> The company is headquartered in Beijing, China, providing digital asset management services and user experience

2. The transaction cost of bitcoin is generally between 0.0001-0.0005btc. Of course, the amount accepted by each miner and miner's Association is different. Sometimes, a large amount of bitcoin transaction does not need a service charge, such as more than 100btc. Small transactions below 0.01btc will be charged a certain amount of fees. Of course, some bitcoin clients can set bitcoin transaction fee. If you set the transaction fee very low, the transaction confirmation time will be very long
first of all, we should understand that this service charge is given to miners to encourage them to continue mining and provide enough computing power for bitcoin, so as to ensure the security of bitcoin network. At present, the main income of miners is to get BTC reward by creating new blocks, but the reward is halved every four years. As time goes on, bitcoin transaction fee will graally replace bitcoin reward
under what circumstances should the handling charge be paid? What's the amount

bitcoin system has a series of network rules, including the handling charge rules, which are "what the client should do". When you use bitcoin client (wallet, bitcoin QT) to send bitcoin, the whole process is roughly divided into the following steps:

1. Prepare the bitcoin you want to send

the client is responsible for collecting the balance of bitcoin in your wallet (bitcoin QT) to prepare for payment, Because every bitcoin you receive is in your wallet until you spend it

if you withdraw 3btc and 2btc twice in okcoin bitcoin, their records in your wallet are independent, that is, a 3btc and a 2btc, instead of merging them into 5btc (the wallet only records transaction details, but does not merge the balance, but you can see the total balance on the interface of the wallet), As time goes on, you will accumulate a lot of bitcoin in your wallet. It is conceivable that there should be thousands of such records in okcoin bitcoin wallet. So when you send bitcoin, the wallet must decide which of the above records are most suitable for this sending

the bitcoin you get in a transaction is called "inputs" and the bitcoin you spend is called "outputs". There are multiple inputs and outputs in your wallet

2. Prevent a large number of micro payments from impacting the network

if you recharge the okcoin bitcoin trading platform less than 0.01btc (including the fund changes inside your wallet), you must pay a handling charge of 0.0001. When preparing your payment amount, the wallet has an established rule, that is, when preparing the payment amount in many inputs, try to avoid the amount change less than 0.01btc (for example, if you want to recharge 5.005btc to okcoin bitcoin, the wallet should choose 3 + 2.005 or 1 + 1 + 3.005 instead of 5 + 0.005)

3. The larger the amount, the higher the age of the currency, the higher the priority

if the amount you send is too small or your bitcoin has just been mined, then your transfer is no longer free. Each transaction will be assigned a priority, which is determined by the degree of currency, the number of bytes and the number of transactions. Specifically, for each input, the client will first multiply the number of bitcoins by the time they exist in the block (currency age, age), and then divide all the procts by the size of the transaction (in bytes). The calculation formula is: priority = sum (input)_ value_ in_ base_ units * input_ age)/size_ in_ If the calculation result is less than 0.576, then the transaction must pay the handling fee. This is why you need to add a 0.0001 when you withdraw with okcoin bitcoin, because the bitcoin transfer in okcoin wallet is frequent, and the time of bitcoin in the block is relatively short, so you need to pay a handling charge. If you do have a large number of small inputs, such as small miners, and want to transfer them out for free, you can add a large amount of bitcoin with a large currency age, and the average priority will be increased, so that bitcoin can be transferred out for free

4. Charge per kilobyte

at the end of the transfer, the client calculates the size of the transfer (in bytes), which generally depends on the amount of input and output. The calculation formula is as follows: 148 × Input amount + 34 × Output amount + 10. If the size of the transfer exceeds 10000 bytes, but the priority meets the free standard, you can still enjoy the free transfer, otherwise you need to pay the handling charge. The cost per 1000 bytes is 0.0001btc by default, but you can also add it in the client by opening the tab "settings & gt; Options & gt; The main purpose is to adjust the handling charge. If the service charge you are setting is less than 0.0001, BTC is calculated as 0.0001. When this rule applies, it will replace the rule in step 2 instead of accumulating.

3. Most of this is e to the low handling charge you pay. Because bitcoin network will give priority to the transaction with higher service charge. If a transaction is not confirmed for a long time, it may be returned to the issuer. But it's very unlikely. You

4. Fire coin is an exchange, and the procts related to fire coin are not bitcoin wallets in the original sense (even if fire coin names the proct XX wallet, it is still not bitcoin wallets). In fact, it's just the difference between onchain and offchain
a real bitcoin wallet can generate its own private key (address). Where the private key is kept by others is not a bitcoin wallet.

5. In theory, at the last moment of bolt tightening, the stress on the bolt reaches the allowable strength of the bolt (determined by the strength level of the bolt (e.g. grade 8.8, when the tensile stress of the bolt is 800N / mm2). The force on the bolt can be calculated according to the diameter of the bolt. According to the diameter of the bolt (take the pitch diameter of the thread) and the pitch of the bolt, the inclined angle of the bolt is obtained; According to the static friction coefficient between the pressure (i.e. the force acting on the bolt) and the material, the thrust can be obtained. The thrust multiplied by half of the pitch diameter of the thread should be equal to the torque of tightening the bolt. The moment divided by the arm length from the point of action of the force to the center of the bolt is the force required on the wrench. Of course, this is not the preload of the bolt.

6. The essence of fire coin and bitcoin is the same. They are both network virtual currencies. The difference is that bitcoin is made by Nakamoto Tsung, and it has never appeared mysteriously. The fire coin is made by a Chinese company, learning the algorithm of bitcoin
virtual currency has no credibility. The people's Bank of China has long declared that virtual currency has no monetary value and does not recognize it as currency. Investment in virtual currency has great fluctuation and risk.