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Crypto Bible — ether currency

How my friend lost 2 Ether

Posted by Taras Lanchev on

This is my friend's story from a few months back. 2 months ago my neighbour told me about mining and helped me get my first mining rig up and running. I went on https://www.myetherwallet.com, created a wallet, typed in my miner parameters, started the rig and just left it. Today I decided to see how it is doing and how much I've made. So I go to Yahoo, seach for "MyEtherWallet" and click the first link I see (yes, yes, I'm stupid), load my wallet up, type in my password and see that I have almost 2 Ether! I exited the site and went on it again later (this time...

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What is Gas in Ethereum and how much should I pay for an Ethereum transaction?

Posted by Taras Lanchev on

"I didn't have enough gas to complete a transaction! What does that mean? How do I get around it?" I hear those questions asked very often by the people who are into Ethereum. And it's fair enough. I only recently learnt what Gas, Gwei and Contracts are. We already talked about how much you should pay for a Bitcoin transaction, but this time the challenge is a bit harder. So let's get down to it! 1 ETH = 1000000000000000000 wei = 1000000000 gwei (shannon) = 1000000 szabo = 1000 finney This is how Vitalik and Co trolled the whole Ethereum community. Still don't get...

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