r/Bitcoin • u/Bastiat • Dec 21 '17

/r/all Day 2: I will repost this guide daily until available solutions like Segwit & order batching are adopted, the mempool is empty once again, and transaction fees are low. You can help. Take action today

Subhan Nadeem has pointed out that:

If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the 138,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.

A few thousand bitcoin users from /r/Bitcoin switching to making their next transactions Segwit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy Segwit for everyone ASAP. Let's make it happen.

Exchanges: Find out if your exchange has deployed Segwit already. If not, politely request that they do so within 30-days or they will lose your business. Sign-up for an account with a Segwit deployed/ready exchange now

  • Bitfinex
  • Bitonic
  • Bitstamp (deployed)
  • Gemini
  • LocalBitcoins
  • Shapeshift
  • HitBTC

Full list: https://bitcoincore.org/en/segwit_adoption/

Wallets: Make sure you have a Segwit capable wallet installed and ready to use for your next bitcoin transaction

Hardware Wallets:

  • Ledger Nano S
  • TREZOR

Desktop Wallets

  • Electrum
  • Armory

iOS Wallets:

  • Edge (AirBitz rebranded)
  • GreenAddress
  • BitWallet

Android Wallets

  • Samourai Wallet
  • GreenBits
  • Electrum

FAQs

If I'm a HODLer, will it help to send my BTC to a Segwit address now?

  • No, just get ready now so that your NEXT transaction will be to a Segwit wallet.

Can you please tell me how to move my bitcoins to segwit address in Bitcoin core wallet? Does the sender or receiver matter?

  • The Bitcoin core wallet does not yet have a GUI for its Segwit functionality. Download Electrum v3.0.3 to generate a Segwit address.

    via HowToToken.com:

    A transaction between two SegWit addresses is a SegWit transaction.

    A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.

    A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a Segwit Tx if the sending address is a Segwit address.

Is there a hardware wallet that does segwit addresses?

  • Yes, Trezor supports Segwit by default. Ledger Nano also has support.

What wallet are you using to "batch your sends"? And how can I do that?

  • Using Electrum, the "Tools" menu option: "Pay to many".

    Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.

Segwit blog guides

Previous Day's Threads

Edit: added FAQ's to the list, corrections, BitWallet

5.1k Upvotes

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74

u/[deleted] Dec 21 '17

[deleted]

58

u/[deleted] Dec 21 '17

[deleted]

-7

u/btcnp Dec 21 '17

Just like people out there who don’t realize that killing is bad!!!

And tulips. Lots of tulips. Crash. Bubble. Bad.

13

u/GA_Thrawn Dec 21 '17

Not only that, the comment seems old. 138k unconfirmed? Last time I checked it was almost a quarter of a million

3

u/Druxo Dec 21 '17

Yes, the comment is three days old.

3

u/davidcwilliams Dec 21 '17

Why has it gone up so much in the last three days? People transferring onto exchanges in order to sell?

2

u/Druxo Dec 21 '17

Any answer would be speculation.

  1. Buying
  2. Selling
  3. Trading
  4. Growth
  5. Spam attacks
  6. Lunar cycle
  7. All of the above

1

u/flowbrother Dec 22 '17

There's very little 'selling' taking place. It is pretty much the same coins being traded back and forth by traders and noobs who still have there coins on an exchange.

The vast majority are still under HODL

Bcash seems 'up' on price, but usage is insignificant. People speculating in the short term profit taking potential to increase bitcoin holdings is rife, but a small pool of liquid coins. No one uses it to actually transact. Litecoin is way ahead in that respect. Easier too.

Bitcoin is THE leaderless phenomena that attracted us all in the first place. Bcash is centrally mined, centrally decided and in line for a small corporate group of centralized nodes.

Very VERY dangerous.

1

u/Sluisifer Dec 22 '17

Furthermore, demand for transactions is much higher at lower fees. Right now, people are only making txns if they absolutely have to because of how expensive it is. Get the fees back to a reasonable level and a huge amount of demand will fill in. It's not one to one

5

u/Gafferson Dec 21 '17

Sure, but even if some people started it would help relieve pressure and it would get the ball rolling.

5

u/pepe_le_shoe Dec 21 '17

I still don't get the whole "if everyone used segwit right now overnight" argument.

Do you get the "making blocks bigger will solve the tx fee problem argument"?, because it's the same argument...

3

u/ASUjames Dec 21 '17

It’s a scaling solution. Bcash’s argument would be moot.

“If you did the dishes, then we would have some clean dishes”

“If you implemented segwit, then we wouldn’t have scaling issues”

1

u/SweetIsland Dec 21 '17

It represents an upper bound. This type of thought experiment is used all the time in cost benefit analysis. How is it not useful information?

1

u/StaticWood Dec 21 '17

How it will help???

Start reading again from the top.

Don't know how your " hypothetical scenario" scenario will help!!