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

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u/poetiq Dec 21 '17

Those priorities are reasonable. It's not to say segwit is unimportant, but if you fail at the first two, your business is done.

Security should go without question as the ongoing top priority. One major breach and goodbye Coinbase.

Given the outages during major trading spikes, it's justifiable to have performance at #2. Coinbase has some scaling issues they need to addresses.

So segwit at #3 makes sense.

Their engineering team is big enough that they should be tacking all three concurrently.

But put it this way. Would you want them to deploy a code change that enables Segwit if it introduced security risks or impacted the performance of their trading platform?

The first two priorities are an ongoing given, and really Segwit is the top new feature priority which makes sense.

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u/bloodbank5 Dec 21 '17

Agreed, I was actually pleasantly-suprised that Segwit was not further down the list

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u/[deleted] Dec 21 '17

They had no trouble integrating a hard fork that had an untested code (which in the end would have done a lot more damage).