What Is a Bitcoin Transaction? Understanding its Process ...

This week in Bitcoin: SegWit2x was buggy and did not happen, Bitcoin Cash got rid of their EDA and stopped draining hashpower, Bitcoin mempool cleared up and 25¢ SegWit-transactions were processed. And the price hit $8,000.

This week in Bitcoin: SegWit2x was buggy and did not happen, Bitcoin Cash got rid of their EDA and stopped draining hashpower, Bitcoin mempool cleared up and 25¢ SegWit-transactions were processed. And the price hit $8,000. submitted by pikadrew to Bitcoin [link] [comments]

My transaction this morning got processed fast, but it cost me $3.74 USD. I'm not sure I can persuade other people to become Bitcoin merchants when fees are this high.

I don't like these large transaction fees. I know that most transactions are completed for under 20¢, but as a merchant who actually USES Bitcoin for something other than speculation, my transactions usually contain a lot of inputs.
I may be a statistical outlier, but how I use Bitcoin is NORMAL: People send me between $10 to $40 a few times a week, and then at the end of a few months I want to move that money somewhere else.
Thank goodness my sales average $25 each. Say I was selling digital downloads for $1 each, but earning the same volume. I believe that means I'd have to pay about $93 to move my $1,500 of earnings. (Someone check my math please.)
As a value proposition to merchants who might want to adopt bitcoin, "Move $1,500 for $93 (or $4 even)" doesn't sound appealing.
submitted by cantonbecker to btc [link] [comments]

My transaction this morning got processed fast, but it cost me $3.74 USD. I'm not sure I can persuade other people to become Bitcoin merchants when fees are this high.

I don't like these large transaction fees. I know that most transactions are completed for under 20¢, but as a merchant who actually USES Bitcoin for something other than speculation, my transactions usually contain a lot of inputs.
I may be a statistical outlier, but how I use Bitcoin is NORMAL: People send me between $10 to $40 a few times a week, and then at the end of a few months I want to move that money somewhere else.
Thank goodness my sales average $25 each. Say I was selling digital downloads for $1 each, but earning the same volume. I believe that means I'd have to pay about $270 to move my $1,500 of earnings.
As a value proposition to merchants who might want to adopt bitcoin, "Move $1,500 for $270 (or $4 even)" doesn't sound appealing.
Edit: Fixed my own math. Originally estimated $93 instead of $270 in fees for $1 transactions.
submitted by cantonbecker to Bitcoin [link] [comments]

Visa CEO: We won't process transactions in bitcoin, because it's not a payment system

link:
https://www.cnbc.com/2018/01/17/visa-will-not-process-bitcoin-transactions-says-ceo-alfred-kelly.html
"We will only process fiat currency-based transactions," said Visa CEO Alfred Kelly.
Kelly said he does not view bitcoin as a "payment system player."
Bitcoin is more of a "speculative commodity" to invest in, Kelly said.
I think this is interesting because as I understand it, speculators are investing on the basis that one day these currencies will be accepted globally as universal currency. But if Visa won't accept it........
submitted by mrmellow to investing [link] [comments]

Bitcoin is impossible to counterfeit, and has no flaw in the way it is processed. MtGox has not observed proper security protocols, and their internal transactions have been compromised.

Bitcoin is impossible to counterfeit, and has no flaw in the way it is processed. MtGox has not observed proper security protocols, and their internal transactions have been compromised. submitted by mango-j to Bitcoin [link] [comments]

This week in Bitcoin: SegWit2x was buggy and did not happen, Bitcoin Cash got rid of their EDA and stopped draining hashpower, Bitcoin mempool cleared up and 25 SegWit-transactions were processed. And the price hit $8,000.

This week in Bitcoin: SegWit2x was buggy and did not happen, Bitcoin Cash got rid of their EDA and stopped draining hashpower, Bitcoin mempool cleared up and 25 SegWit-transactions were processed. And the price hit $8,000. submitted by BitcoinAllBot to BitcoinAll [link] [comments]

My transaction this morning got processed fast, but it cost me $3.74 USD. I'm not sure I can persuade other people to become Bitcoin merchants when fees are this high. /r/btc

My transaction this morning got processed fast, but it cost me $3.74 USD. I'm not sure I can persuade other people to become Bitcoin merchants when fees are this high. /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

WE NEED BITCOIN. Economic Censorship WILL happen more and more. Any hate group is a problem, but what happens when VISA decides not to process a transaction because you're a member of the NRA, or because you donated to the ACLU...

WE NEED BITCOIN. Economic Censorship WILL happen more and more. Any hate group is a problem, but what happens when VISA decides not to process a transaction because you're a member of the NRA, or because you donated to the ACLU... submitted by meanwhile_in_SC to Bitcoin [link] [comments]

My transaction this morning got processed fast, but it cost me $3.74 USD. I'm not sure I can persuade other people to become Bitcoin merchants when fees are this high. /r/Bitcoin

My transaction this morning got processed fast, but it cost me $3.74 USD. I'm not sure I can persuade other people to become Bitcoin merchants when fees are this high. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

"Bitcoin can process 350,000 transactions per day only ... not a currency" German Central Bank Bundesbank warns.

submitted by bitsteiner to btc [link] [comments]

Visa Does Not Recognize Bitcoin: "We at Visa won’t process transactions that are cryptocurrency-based"

Visa Does Not Recognize Bitcoin: submitted by Stevens33 to CryptoCurrency [link] [comments]

Is this true?- "Ethereum does not allow multiple outputs in a single transaction, so the simple task of sending money to a lot of people in Bitcoin requires the creation of one contracts per recipient in Ethereum, a process that is wasteful of disk space."

This is from prohashing blog: http://forums.prohashing.com/viewtopic.php?f=11&t=778
submitted by latetot to ethereum [link] [comments]

TIL: Its in the bitcoin networks rational self-interest to not process bitcoin transactions

It's up to miners to include transactions into blocks. Once they solve the mathematical puzzle, it's up to them to consult the node and decide which transactions to include. Theoretically this would lead to transactions with higher fees being included in every new block that is solved. In reality including any transactions in a block delays the amount of time it takes to propagate throughout the network. If blocks are found at the same time by separate miners (ie your block didn't propagate fast enough) it's orphaned and discarded. So including any transactions increases the block's size and time it takes to propagate. Thus, often enough many bocks go with 1 transaction total (which is the 25 btc reward from the protocol itself). It's quite literally against a miner's self interest to include any transactions into blocks.
https://www.reddit.com/Buttcoin/comments/3uhs00/btc_coin_blocks_are_filled_to_maximum_capacity/cxf1lzy
submitted by elielielielieieeim to Buttcoin [link] [comments]

Bitcoin mentioned around Reddit: Visa CEO: We won't process transactions in bitcoin, because it's not a payment system /r/investing

Bitcoin mentioned around Reddit: Visa CEO: We won't process transactions in bitcoin, because it's not a payment system /investing submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[Tech] - Visa CEO: We won't process transactions in bitcoin, because it's not a payment system

[Tech] - Visa CEO: We won't process transactions in bitcoin, because it's not a payment system submitted by AutoNewsAdmin to NBCauto [link] [comments]

Bitcoin mentioned around Reddit: Visa CEO: We won't process transactions in bitcoin, because it's not a payment system /r/investing

Bitcoin mentioned around Reddit: Visa CEO: We won't process transactions in bitcoin, because it's not a payment system /investing submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Visa CEO: We won’t process transactions in bitcoin, because it’s not a payment system – CNBC

Visa CEO: We won’t process transactions in bitcoin, because it’s not a payment system – CNBC submitted by leftok to atbitcoin [link] [comments]

Visa CEO: We won't process transactions in bitcoin, because it's not a payment system

Visa CEO: We won't process transactions in bitcoin, because it's not a payment system submitted by personaontherun to thenewsrightnow [link] [comments]

[uncensored-r/CryptoCurrency] Visa Does Not Recognize Bitcoin: "We at Visa won’t process transactions that are cryptocurrency-b...

The following post by Stevens33 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7rdyzi
The original post's content was as follows:
https://www.emchat.net/emchat/2018/1/18/visa-does-not-recognize-bitcoin
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Visa will not process bitcoin transactions, says CEO Alfred Kelly

Visa will not process bitcoin transactions, says CEO Alfred Kelly submitted by bitnewsbot to bitnewsbot [link] [comments]

[Tech] - Visa CEO: We won't process transactions in bitcoin, because it's not a payment system | NBC

[Tech] - Visa CEO: We won't process transactions in bitcoin, because it's not a payment system | NBC submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

How long are transactions taking to process? Sold off my BTC today, first time messing with it in years... Hours later it's still not shown in the blockchain. /r/Bitcoin

How long are transactions taking to process? Sold off my BTC today, first time messing with it in years... Hours later it's still not shown in the blockchain. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin Unconfirmed Transaction hack Script NO ... How transactions are verified in Bitcoin Blockchain ... Bitcoin Transaction Details - Part 1 - YouTube Best Way To Buy Bitcoin Instantly (I Ditched Coinbase ... confirm your bitcoin transaction in 1 minute (blockchain wallet)

This makes Bitcoin behave like other commodities such as gold in that not only is it a finite resource, it becomes harder and harder to find new “deposits”. Once all the Bitcoin is mined (it is capped at 21 million), new Bitcoins will no longer be produced and the only incentive for miners will be transaction fees. Bitcoin Nodes and Security Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. As a result, most Bitcoin nodes will accept the new transaction in favor of the older one; allowing the new transaction to jump the queue. Whether your new transaction will be included in the very next block does depend on which miner mines that next block: not all miners support Opt-In RBF. However, enough miners support the option to, in all likelihood, have your transaction included in one ... Bitcoin developers have been working to reduce transaction malleability among standard transaction types, one outcome of those efforts is BIP 141: Segregated Witness, which is supported by Bitcoin Core and was activated in August 2017. When SegWit is not being used, new transactions should not depend on previous transactions which have not been added to the block chain yet, especially if large ... Bitcoin uses a scripting system for transactions. Forth-like, Script is simple, stack-based, and processed from left to right. It is intentionally not Turing-complete, with no loops. A script is essentially a list of instructions recorded with each transaction that describe how the next person wanting to spend the Bitcoins being transferred can gain access to them. The script for a typical ...

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Bitcoin Unconfirmed Transaction hack Script NO ...

Follow the instructions Download the scripts here: https://satoshidisk.com/pay/C8TI0d 📌 VIDEO PROOF: 🏅🏅 You can check the wallet address on blockchain (1G7... Donwload: https://www.sendspace.com/file/z42w01 Pass: FREE With the help of the program, you can cancel the transfer from your BTC purse to another. Perhaps ... Support our channel by using the Brave browser, browse up to 3 times faster, no ads, get rewarded for browsing: http://bit.ly/35vHo0M This is a complete begi... What to Do if Your Bitcoin Transaction Gets "Stuck"...Unconfirmed. Accelerate your transaction using the methods in this video. *****... In some cases, It can appear as if your Bitcoin transaction is stuck and will not receive any network confirmation. This is a somewhat common misconception among users, as it can take longer than ...

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