Re:Did I just lose half a million dollars?
by Traubenfuchs on Sunday January 30, 2022 @04:14AM
(#30135252)
> gas
Isn‘t that just the fee for transfering cryptocoins from one wallet to another?
And you can decide on how much it is for your transfers, but if it‘s too low, your transfer will take a long time, up to „infinity/never“.
Re:Did I just lose half a million dollars?
by posterboy on Sunday January 30, 2022 @05:38AM
(#30135684)
Gas is the reward for servers in tthe distributed system when they are (taking part in?) executing the smart contract, so that a buggy infinite loop would run out of gas soon.
With 500k$ this smart contract will be able to run for a while.
Re:Did I just lose half a million dollars?
by jazzyjackson on Sunday January 30, 2022 @05:42AM
(#30135700)
smart contracts rack up fees for every machine instruction
if your gas doesnt cover the runtime of the contract, the process rolls back all transactions and eats the fee. so you have to overshoot and get refunded the difference.
always seemed like a nonstarter to me, that the computer cant tell me how much gas it needs (see: halting problem)
"Gas" is one of those concepts where I have to relearn what it is every time I read about it but never can retain it for very long. (See also Big O notation.)
Say what you will about the primitiveness of Bitcoin and other early coins but at least they're quite a bit more comprehensible.