Bitcoin / Charts — Blockchair

Bitcoin - The Internet of Money

/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
[link]

AnCap Investing

Using economic (peaceful) means instead of political (coercive) means to improve our lives.
[link]

6 Monitoring Websites That Help Track Bitcoin Cash Data, BCH Network Statistics and Market Indicators. Coin Dance, Bitcoin.com Charts, Blockonomics, Simpleledger, Blockchair and Johoe’s Bitcoin Mempool Statistics.

6 Monitoring Websites That Help Track Bitcoin Cash Data, BCH Network Statistics and Market Indicators. Coin Dance, Bitcoin.com Charts, Blockonomics, Simpleledger, Blockchair and Johoe’s Bitcoin Mempool Statistics. submitted by EducationalLadder to Bitcoincash [link] [comments]

#crypto #bitcoincash @nocroom #6 Monitoring Websites That Help Track Bitcoin Cash Data, BCH Network Statistics and Market Indicators. Coin Dance, Bitcoin.com Charts, Blockonomics, Simpleledger, Blockchair and Johoe’s Bitcoin Mempool Statistics.

#crypto #bitcoincash @nocroom #6 Monitoring Websites That Help Track Bitcoin Cash Data, BCH Network Statistics and Market Indicators. Coin Dance, Bitcoin.com Charts, Blockonomics, Simpleledger, Blockchair and Johoe’s Bitcoin Mempool Statistics. submitted by PooPoster1 to Cryptoandme [link] [comments]

What is that growing thing underneath Johoe's bitcoin mempool chart? (never seen that there before)

What is that growing thing underneath Johoe's bitcoin mempool chart? (never seen that there before) submitted by bit_LOL to Bitcoin [link] [comments]

What is that growing thing underneath Johoe's bitcoin mempool chart? (never seen that there before) /r/Bitcoin

What is that growing thing underneath Johoe's bitcoin mempool chart? (never seen that there before) /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Anybody's got a correlation chart between average fee and mempool transaction count? /r/Bitcoin

Anybody's got a correlation chart between average fee and mempool transaction count? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Does anyone else find it a little too coincidental that as soon as we start reaching industry consensus on a blocksize increase that mempool falls off the charts? We now have 10 satoshi per byte transactions confirming. /r/Bitcoin

Does anyone else find it a little too coincidental that as soon as we start reaching industry consensus on a blocksize increase that mempool falls off the charts? We now have 10 satoshi per byte transactions confirming. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

06-17 16:21 - 'Bitcointicker - Mempool Backing Up (Need SegWit/2MB Now!)' (charts.bitcointicker.co) by /u/earonesty removed from /r/Bitcoin within 4-9min

Bitcointicker - Mempool Backing Up (Need SegWit/2MB Now!)
Go1dfish undelete link
unreddit undelete link
Author: earonesty
submitted by removalbot to removalbot [link] [comments]

[HALVING MEGATHREAD] Block 630000 has been mined. Mining subsidy is now 6.25 BTC per block. The third Bitcoin Halving is now complete!

As of now, 630,000 blocks have been mined on the Bitcoin network, and the block reward has successfully halved for the second THIRD time. The previous block reward was 12.5 BTC, and the new block reward is now 6.25 BTC. Since the previous halving at Block 420000, monetary inflation decreased from 4.17%% to 3.57%. Block 630000 signals an immediate 50% reduction to 1.79%. The next halving will occur at Block 840000 in approximately four years. Godspeed, Bitcoin!
Here's Block 630000 in all its glory!
{ "hash": "000000000000000000024bead8df69990852c202db0e0097c1a12ea637d7e96d", "confirmations": "1", "strippedsize": "1186930", "weight": "3993250", "height": "630000", "version": "536870912", "merkleroot": "b191f5f973b9040e81c4f75f99c7e43c92010ba8654718e3dd1a4800851d300d", "tx": "3134", "time": "1589225023", "nonce": "2302182970", "bits": "387021369", "difficulty": "16104807485529", "previousblockhash": "0000000000000000000d656be18bb095db1b23bd797266b0ac3ba720b1962b1e", } 
coinbase transaction: 6.25 BTC + 0.90968084 BTC in fees
block size: 1186.93 KB
transactions: 3134
total bitcoins: 18,375,000
remaining bitcoins: ~2,625,000
previous halving: 3 years 10 months 2 days 2 hours 37 minutes 30 seconds ago
[Monetary Inflation Chart] [Controlled Supply] [Bitcoin Clock]
[blockstream.info] [insight.io] [tradeblock.com] [mempool.space] [btc.com] [blockchain.com]
submitted by BashCo to Bitcoin [link] [comments]

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Bitcoin Fees: Bitcoin Cash $0.00 / BTC coin $2.76

Bitcoin Fees: Bitcoin Cash $0.00 / BTC coin $2.76 submitted by Egon_1 to btc [link] [comments]

Instacoin UK - Last Chance (up to end of Oct) to get a free £10 worth of Bitcoin (same day) for £100 Bitcoin purchase

Instacoin UK , a popular cryptocurrency exchange, are updating their referral scheme from 1st November 2020. The referral amount will be adjusted to a £5 bonus for any purchase over £50. Currently it is a £10 bonus for any purchase of £100 or over.
Instacoin UK is a website which allows you to purchase Bitcoin with your Visa / MasterCard or via a bank transfer. They have been around a while used by lots of beermoneyuk users already.
Instacoin UK are going to honor the £10 bonus scheme for any new customer signing that sign up and purchase £100 of Bitcoin or over until the end of the month. You get the free £10 worth of Bitcoin immediately after purchase! The whole process (including receiving your £100 back in your bank account) should take less than an hour.
The Process
Sign up via my referral link.
Referral link: https://instacoin.uk/ref?code=54C9787
£10 bonus
Non-refferal link: https://instacoin.uk/
No bonus

Steps:

  1. Sign up with the referral link above
  2. Verify your account (driver's licence, passport or gov issued I.D)
  3. Click buy at the top of the dashboard and select BTC, with a purchase amount of £100
  4. Enter the Bitcoin wallet address you want the money paying to.
  5. Pay using by Visa / MasterCard or bank transfer.
  6. You're done! The £100 of BTC will reach your bitcoin wallet usually within 15 minutes or so.
  7. The £10 bonus you receive in the form of a code in your email after the £100 of BTC is sent. Click the email link, enter the code, provide your wallet address again and you'll receive your £10 of BTC for free :)

Once the £110 worth of Bitcoin is in your wallet you are free to do whatever you want with it. I sent mine to my BlockFi account for savings.
You can also get an additional £10 reward for every person you refer up to the end of the month, after this it is £5! Any referral bonuses are given to you at the end of the month).
Let me know if you have any questions.

UPDATE 24.10.20: There is some confusion about the referral amount as being £5 or £10. InstaCoin UK have confirmed That is you sign up with an exsisting customers link (like mine), and complete a £100 purchase before the end of October, you will receive £10 in free Bitcoin credited to your account.
My Referral link for the free £10: https://instacoin.uk/ref?code=54C9787
UPDATE 28.10.20:
Here is a copy of the email I have just received from InstaCoin. I can verify that the mempool is super busy at the moment:

We have received a number of support tickets regarding the delay in BTC confirmations. Rather than reply to everyone individually we would like to address this issue as a whole and give a quick explanation to all our users about why this is occuring:
Sometimes, for a variety of reasons, there will be a spike in the number of BTC transactions that are waiting to be confirmed. That will cause a delay in confirmation times, and increases the price of fees required for a transaction to be included in a block. You can see the current number of unconfirmed transactions here: https://www.blockchain.com/charts/mempool-count?timespan=1week.
Transaction fees directly influence how long you will have to wait for transactions to confirm. At InstaCoin, we broadcast all our transactions with a Regular fee. This fee is covered on our side. It is usually around 0.0001 BTC or £1. Up until the last few days, there has never been an issue with confirmation times.
With a high priority fee, it is likely that transactions will get confirmed quicker by miners. Currently, we are looking at a 0.001BTC/£10 fee to push through transactions at a normal rate. As you can imagine, this is not an expense InstaCoin can cover and we also believe our users would not want to pay this fee either.
We believe the best solution is the one we are currently employing. The delays are frustrating and we feel that frustration too but the current mempool (waiting room) is unprecedented and we will return back to normal ways soon.
The important takeaway we want our users to have from this is that, from our side, the BTC is sent out instantly to your wallet and usually this would get confirmed in a short space of time. At this moment things are taking a bit longer, but the end-point is that you will 100% receive this BTC eventually.

Also remember to complete your sign up and deposist before the end of the month to be certain of getting the free £10 in Bitcoin.
My sign up link again is: https://instacoin.uk/ref?code=54C9787
Sign up code: 54C9787
If you have any questions just let me know.
submitted by TidyCompetition to beermoneyuk [link] [comments]

Are the fees always this high or is it because of my wallet ?

Hello !
So i'm starting to use bitcoin instead of paypal for my paiements and so far it's good.
I have a Bitcoin.com wallet on my android phone and I'm using it for my transactions, but one problem that will certainly make me go back to paypal are the high fees...
How come when I send 5$ using paypal I only pay 0.41$ as fee, but when I send 5$ using bitcoin I pay 3.92$ as a fee , I must be doing something wrong !
Are the fees differ from a wallet to another or are they the same everytwhere ? If I make my own wallet on my laptop for exemple using electrum or any other wallet, will I be paying less fees ? Thank you !
submitted by NoLynxx to BitcoinBeginners [link] [comments]

Bitcoin hashpower has fallen 45% since halving, cryptards in disbelief.

Bitcoin hashpower has fallen 45% since halving, cryptards in disbelief. submitted by CC_Batman to Buttcoin [link] [comments]

What is your Bitcoin Maturity Score?

How many of the 25 steps in the bitcoin rabbit hole have you mastered? Be honest. Count how many and divide your score by 2.5.
Your Score: <5: learner / weak hands 5-7: hodler 8-9: mature 10: orange pilled
Post your result below.
The Bitcoin Journey: 1. That (log) price chart! 🧐 2. Digital scarce? 🤔 3. Satochi 4. Blockchain 5. Alts 6. Mining, halvings, diff adjustment 7. How do I get it? 8. Wallets, keys, seeds, exchanges 9. Crypto Twitter 10. Fees, hashrate, mempool, txs 11. Money, inflation, central banks 12. Stocks, S&P500, 13. Charts, TA, RSI, MA’s, triangles, patterns 🤓 14. Keynes, Austrian economics 15. Bull/bear market, trading, win/lose 16. Network effects & adoption 17. Gold, Silver, real estate 18. Full node, electrum pvt server 19. Evangelize / orange pilled 💊 20. All-in / auto-dca 21. Immaculate conception 22. NGU, game theory 23. Cosmic renaissance 24. Opsec, multisig 25. Maximalism
Let me know your score & what’s missing from your journey. Also accepting suggestions for better results categories/ descriptions.
submitted by mbrookson to Bitcoin [link] [comments]

Bitcoin went slow :( !

Bitcoin is stupid slow at the moment. Too many many folks are using it leading to many transactions waiting to be confirmed. You can check the status of the Bitcoin mempool at https://www.blockchain.com/charts/mempool-size once it goes down your transaction should confirm, normally that how it works.
submitted by Leading_Donkey8586 to TomAndJerryMarket [link] [comments]

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

how to create email trigger for BTC mempool congestion data to relate to transaction fees

Hello everyone. I am looking for an online, frequently updated pool of data that I can access and create a trigger that sends me an email when the mempool congestion rises AND falls below a certain level in order to approximate when using BTC is too costly. My goal is to have this email sent to myself so i don't have to check sites like: https://charts.woobull.com/bitcoin-congestion/ AND https://www.blockchain.com/charts/fees-usd-per-transaction every time I want to send BTC.
I suppose a raw number of mempool transactions would work, or the total fees per transaction in USD.
I have a little experience creating triggers for certain events, using 'If This Then That', but anyone has a better way, please let me know.
thank you.
submitted by Cymbaline1971 to Bitcoin [link] [comments]

The Mysterious Entity that Caused the Bitcoin Network fees to Jump 146% in May

The Mysterious Entity that Caused the Bitcoin Network fees to Jump 146% in May
May 25, 2020
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Bitcoin price has yet again taken a dive to $8,800, recording a drop of 4%.
Meanwhile, Network Demand Score which is a metric incorporating network velocity, transaction value, fees, and miner’s rolling inventory, climbed to 6/6 following the bitcoin halving meaning the network is growing stronger which could also be a sign that “we’re in a longer-term bull market.”
Since March 12th, just before the massive sell-off, this score has remained above a 3/6 reflecting growing strength in network activity and instilling confidence in the ongoing uptrend for the bitcoin price.
3 Reasons why fees skyrocketed
One component of this indicator, bitcoin on-chain fees has been surging like crazy.
Last week, Bitcoin average transaction fee climbed to $7, last seen in February 2018. This has the miner revenues from fees rising to the levels not seen for more than 2 years. But this week, it also dropped 55% to $3.13.
The increase in transaction fees, which is increasingly becoming more important for Bitcoin network security, has been because of the unconfirmed transactions piling on in mempool.
A decline in hash rate following halving caused fewer blocks to be found and will continue until the next difficulty adjustment has been one of the reasons behind this jump in fees.
The other reason is the large fluctuations in bitcoin price which has traders sending coins between exchanges.
Ather reason is a “mysterious entity which has been consolidating outputs at the highest fee rates, driving up fees for everyone,” pointed out Serrrgej Kotliar, CEO Bitrefill.
Who is this “Crazy1o1”?
Over the weekend Kotliar shared how, for the past 14 days, this mysterious entity has consolidated a lower-bound of 720 thousand outputs, 5 MB per day, more than BitMEX.
Since May 1st, this entity named “Crazy1o1” has spent around 804k UTXOs and has paid more than 104BTC in mining fees during this time, noted Laurent.
“On some days, these fees are equivalent to 10-12% of all the fees received by miners,” he said.
Laurent along with others suspect this entity to be the cryptocurrency exchange Coinbase.
Earlier this month, it was also found that crypto derivatives exchange BitMEX is making the bitcoin network expensive for everyone and its own users are paying 6.8% of total daily transaction fees.
Prepare for the next bull market
All of this a “decent fire drill for what might happen if we see another bull market,” said Kotliar. Grubles from Blockstream said,
“ON-CHAIN FEES AND BTC PRICE MOVEMENTS CHART. YOU CAN SEE THAT BIG MOVEMENTS RESULT IN PEOPLE RUSHING TO TRANSACT (ALMOST CERTAINLY TO/FROM EXCHANGES), PUSHING FEES UP FOR OTHER NON-TRADER USERS WHO NEED UNCENSORABLE / IRREVERSIBLE TRANSACTIONS.”
The fees reached its all-time high at over $55 during the peak of the bull market in December 2017. As such in the next bull market, a 5x growth in on-chain transactions should be expected.
But given that batching, one of the many ways the network has been scaled is here, it will prevent the pressure on the network from getting worse than 2017. But exchanges will need to be prepared for this.
submitted by kealenz to BitcoinMarkets [link] [comments]

The Mysterious Entity that Caused the Bitcoin Network fees to Jump 146% in May

Bitcoin price has yet again taken a dive to $8,800, recording a drop of 4%.
Meanwhile, Network Demand Score which is a metric incorporating network velocity, transaction value, fees, and miner’s rolling inventory, climbed to 6/6 following the bitcoin halving meaning the network is growing stronger which could also be a sign that “we’re in a longer-term bull market.”
Since March 12th, just before the massive sell-off, this score has remained above a 3/6 reflecting growing strength in network activity and instilling confidence in the ongoing uptrend for the bitcoin price.
3 Reasons why fees skyrocketed
One component of this indicator, bitcoin on-chain fees has been surging like crazy.
Last week, Bitcoin average transaction fee climbed to $7, last seen in February 2018. This has the miner revenues from fees rising to the levels not seen for more than 2 years. But this week, it also dropped 55% to $3.13.
The increase in transaction fees, which is increasingly becoming more important for Bitcoin network security, has been because of the unconfirmed transactions piling on in mempool.
A decline in hash rate following halving caused fewer blocks to be found and will continue until the next difficulty adjustment has been one of the reasons behind this jump in fees.
The other reason is the large fluctuations in bitcoin price which has traders sending coins between exchanges.
Ather reason is a “mysterious entity which has been consolidating outputs at the highest fee rates, driving up fees for everyone,” pointed out Serrrgej Kotliar, CEO Bitrefill.
Who is this “Crazy1o1”?
Over the weekend Kotliar shared how, for the past 14 days, this mysterious entity has consolidated a lower-bound of 720 thousand outputs, 5 MB per day, more than BitMEX.
Since May 1st, this entity named “Crazy1o1” has spent around 804k UTXOs and has paid more than 104BTC in mining fees during this time, noted Laurent.
“On some days, these fees are equivalent to 10-12% of all the fees received by miners,” he said.
Laurent along with others suspect this entity to be the cryptocurrency exchange Coinbase.
Earlier this month, it was also found that crypto derivatives exchange BitMEX is making the bitcoin network expensive for everyone and its own users are paying 6.8% of total daily transaction fees.
Prepare for the next bull market
All of this a “decent fire drill for what might happen if we see another bull market,” said Kotliar. Grubles from Blockstream said,
“ON-CHAIN FEES AND BTC PRICE MOVEMENTS CHART. YOU CAN SEE THAT BIG MOVEMENTS RESULT IN PEOPLE RUSHING TO TRANSACT (ALMOST CERTAINLY TO/FROM EXCHANGES), PUSHING FEES UP FOR OTHER NON-TRADER USERS WHO NEED UNCENSORABLE / IRREVERSIBLE TRANSACTIONS.”
The fees reached its all-time high at over $55 during the peak of the bull market in December 2017. As such in the next bull market, a 5x growth in on-chain transactions should be expected.
But given that batching, one of the many ways the network has been scaled is here, it will prevent the pressure on the network from getting worse than 2017. But exchanges will need to be prepared for this.
submitted by kealenz to btc [link] [comments]

More BTC Propaganda: Vortex: "Fees have been pennies since segwit, and free on weekends."

More BTC Propaganda: Vortex: submitted by _pokkst to btc [link] [comments]

Bitcoin Fees Skyrocket 590% Since Mid-June - Supporters Think Mempool Size Is Bullish (current BTC/USD price is $11,199.77)

Latest Bitcoin News:
Bitcoin Fees Skyrocket 590% Since Mid-June - Supporters Think Mempool Size Is Bullish
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

The Mysterious Entity that Caused the Bitcoin Network fees to Jump 146% in May

Bitcoin price has yet again taken a dive to $8,800, recording a drop of 4%.
Meanwhile, Network Demand Score which is a metric incorporating network velocity, transaction value, fees, and miner’s rolling inventory, climbed to 6/6 following the bitcoin halving meaning the network is growing stronger which could also be a sign that “we’re in a longer-term bull market.”
Since March 12th, just before the massive sell-off, this score has remained above a 3/6 reflecting growing strength in network activity and instilling confidence in the ongoing uptrend for the bitcoin price.
3 Reasons why fees skyrocketed
One component of this indicator, bitcoin on-chain fees has been surging like crazy.
Last week, Bitcoin average transaction fee climbed to $7, last seen in February 2018. This has the miner revenues from fees rising to the levels not seen for more than 2 years. But this week, it also dropped 55% to $3.13.
The increase in transaction fees, which is increasingly becoming more important for Bitcoin network security, has been because of the unconfirmed transactions piling on in mempool.
A decline in hash rate following halving caused fewer blocks to be found and will continue until the next difficulty adjustment has been one of the reasons behind this jump in fees.
The other reason is the large fluctuations in bitcoin price which has traders sending coins between exchanges.
Ather reason is a “mysterious entity which has been consolidating outputs at the highest fee rates, driving up fees for everyone,” pointed out Serrrgej Kotliar, CEO Bitrefill.
Who is this “Crazy1o1”?
Over the weekend Kotliar shared how, for the past 14 days, this mysterious entity has consolidated a lower-bound of 720 thousand outputs, 5 MB per day, more than BitMEX.
Since May 1st, this entity named “Crazy1o1” has spent around 804k UTXOs and has paid more than 104BTC in mining fees during this time, noted Laurent.
“On some days, these fees are equivalent to 10-12% of all the fees received by miners,” he said.
Laurent along with others suspect this entity to be the cryptocurrency exchange Coinbase.
Earlier this month, it was also found that crypto derivatives exchange BitMEX is making the bitcoin network expensive for everyone and its own users are paying 6.8% of total daily transaction fees.
Prepare for the next bull market
All of this a “decent fire drill for what might happen if we see another bull market,” said Kotliar. Grubles from Blockstream said,
“ON-CHAIN FEES AND BTC PRICE MOVEMENTS CHART. YOU CAN SEE THAT BIG MOVEMENTS RESULT IN PEOPLE RUSHING TO TRANSACT (ALMOST CERTAINLY TO/FROM EXCHANGES), PUSHING FEES UP FOR OTHER NON-TRADER USERS WHO NEED UNCENSORABLE / IRREVERSIBLE TRANSACTIONS.”
The fees reached its all-time high at over $55 during the peak of the bull market in December 2017. As such in the next bull market, a 5x growth in on-chain transactions should be expected.
But given that batching, one of the many ways the network has been scaled is here, it will prevent the pressure on the network from getting worse than 2017. But exchanges will need to be prepared for this.
submitted by kealenz to Buttcoin [link] [comments]

Bitcoin ATH, Mempool still small, BCD price pump, Fisking CSW - Off Chain Daily 2017.11.25 What is a Mempool? - Blockchain What every Bitcoin owner should know: High mempool, Fee/Time, Segwit wallets Bitcoin Cash hard fork, Segwit 2x Post mortem, Bitcoin Mempool, BTG - Off Chain Daily, 2017.11.13 BTC Video on Blockchain TX Fees and Mempool 2019.05.13

Bitcoin charts, BTC price, historical and live graph and other cryptocurrency visualizations What is Bitcoin Mempool? Mempool in short means Memory Pool. As the name suggests it is place where the data needs to be processed are stored. So what type of data are stored here? The transaction data and so it is also called as transaction pool. Mempool or Memory pool is a place which consist of all the recent and pending transactions that occurred on the blockchain network. These ... The memory pool (aka mempool) is a node's view of unconfirmed transactions that have been broadcast to the network. Not all nodes will have the same mempool due to the amount of memory they've allocated, and specific rules that may censor transactions. Above is our node's unconfirmed transactions and sum of their serialized virtual sizes (i.e. includes segwit discount). We run default Bitcoin ... Bitcoin lost 5% or $440 in 24 hours, and at the beginning of the new working week is changing hands for $8,800. Formally, we. More about this chart. Explanation. The mempool is where all the valid transactions wait to be confirmed by the Bitcoin network. A high mempool size indicates. More about this chart. Explanation. The mempool is where all ... Each Bitcoin node builds its own version of the mempool by connecting to the Bitcoin network. The mempool content is aggregated from a few instances of up to date Bitcoin nodes maintained by the Blockchain.com engineering team; this way, we gather as much information as possible to provide accurate mempool metrics.

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Bitcoin ATH, Mempool still small, BCD price pump, Fisking CSW - Off Chain Daily 2017.11.25

AMAZING trading system with two alt coins https://youtu.be/P7XDpbhng2w Part One of Trading Series https://youtu.be/M8iKAxdAEQ0 BITCOIN (BTC) wallet 371sY35Jk... Bitcoin Cash, Bitcoin Mempool, Very profitable block, Bitcoin Gold Launch and preview of my new article "Segwit2x Post-Mortem" Links: https://medium.com/@jim... If the mempool is looking high and you can wait, then wait, but if you have to... I will also go over how to calculate your fee if you choose to customize your transaction fee. This video will go into more details what a mempool in blockchain actually is. Check stats of the mempool: https://jochen-hoenicke.de/queue/ https://www.bloc... What is the Bitcoin Mempool? The mempool is the network’s holding area for transactions that have been made but not put into a block yet. Every Bitcoin node on the network holds unconfirmed ...

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