Transaction - Bitcoin Wiki

XUEZ

https://xuezcoin.com/ XUEZ is a community-based project, aiming to address the inherent problems plaguing Bitcoin and other cryptocurrencies. Understanding the importance of anonymity as well as usability, XUEZ provides a 8MB block size that results in close to instantaneous transaction times.
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07-09 18:17 - 'Actually a monero transaction is about 10x the size of a bitcoin transaction (around 2kb), so it's not "100x-1000x fewer users". Also the tx size will shrink soon with new development. / Bitcoins missing fungibility is...' by /u/Davethebrave111 removed from /r/Bitcoin within 61-71min

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Actually a monero transaction is about 10x the size of a bitcoin transaction (around 2kb), so it's not "100x-1000x fewer users". Also the tx size will shrink soon with new development.
Bitcoins missing fungibility is a very huge show stopper imo. And it doesn't matter if you make some of the transactions private, with coinjoins etc. ,which instantly triggers all red flags in the snitch companies software like chainalysis. It's ether privacy by default or no privacy.
I'm don't want to shit on bitcoin, but this game is lost. Bitcoin won't ever be private, even if it's technically possible, the suits in the game will prevent this by all means because "compliance". It's too late, the time to think about this was 5 years ago.
Better join the dark brother of bitcoin;)
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Author: Davethebrave111
submitted by removalbot to removalbot [link] [comments]

What is the current average size of a bitcoin transaction, sent by a node (not the size inside the block)

submitted by Alienware9567 to Bitcoin [link] [comments]

What is the current average size of a bitcoin transaction, sent by a node (not the size inside the block) /r/Bitcoin

What is the current average size of a bitcoin transaction, sent by a node (not the size inside the block) /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

07-31 01:05 - 'Based on my understanding when you send your transaction it’s just like sending any other data online - an email, a file, website data. The “file” (or data packet) size of the transaction info. [link]' by /u/chinavirii removed from /r/Bitcoin within 1-11min

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Based on my understanding when you send your transaction it’s just like sending any other data online - an email, a file, website data. The “file” (or data packet) size of the transaction info. [link]1
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1: t*ad**lo*k*com/b*og/analysis-of**i*coin-*rans*ctio*-*ize**re*ds/
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Decred is a top 3 coin in transaction finality. One of the most secure ledgers in the world TODAY whilst being the same size as Bitcoin was in 2012. Decred punches 7 years above its weight.

Decred is a top 3 coin in transaction finality. One of the most secure ledgers in the world TODAY whilst being the same size as Bitcoin was in 2012. Decred punches 7 years above its weight. submitted by cyger to decred [link] [comments]

Since the Bitcoin Cash upgrade in May 2018, software developers have unleashed a slew of microblogging protocols that utilize OP_return transactions. One application called Member is a BCH-based browser that makes use of these types of transactions and the extra space added to the data carrier size.

Since the Bitcoin Cash upgrade in May 2018, software developers have unleashed a slew of microblogging protocols that utilize OP_return transactions. One application called Member is a BCH-based browser that makes use of these types of transactions and the extra space added to the data carrier size. submitted by gengyanisme3e to Bitcoincash [link] [comments]

I find it comedic that people think Bitcoin can be the currency of the future, yet those same people oppose increasing the block size from 1 MB to 20 MB. You can't have a currency of the future that only handles 7 transactions per second.

submitted by scotty321 to Bitcoin [link] [comments]

A $1 billion Bitcoin transaction has become conspicuous not because of its size but because its sender spent far too much on fees.

A $1 billion Bitcoin transaction has become conspicuous not because of its size but because its sender spent far too much on fees. submitted by AmericanScream to Buttcoin [link] [comments]

"For the median transaction size of 258 bytes, this results in a fee of 23,220 satoshis (0.15$)." -- fees like those are completely moronic and are harming Bitcoin !

submitted by realistbtc to btc [link] [comments]

“The new large OP_RETURN data sizes on #BitcoinSV are the start of a new era of leveraging #Bitcoin as a data carrier. Long-term, miners will be funded entirely by tiny transaction fees on huge volumes of transactions.” - @money_button @ryanxcharles

“The new large OP_RETURN data sizes on #BitcoinSV are the start of a new era of leveraging #Bitcoin as a data carrier. Long-term, miners will be funded entirely by tiny transaction fees on huge volumes of transactions.” - @money_button @ryanxcharles submitted by cryptorebel to bitcoincashSV [link] [comments]

NChain.com: "Gigablock Initiative" will set up and maintain a global test network capable of supporting blocks up to 1 GB in size and sustained Visa-level transaction throughput (3,000 TPS) on the bitcoin network. Budget of up to USD $1.5 million over 5 years for the project.

NChain.com: submitted by BitcoinIsTehFuture to Bitcoincash [link] [comments]

03-21 00:44 - 'I think I hear chicken sounds. / We both know you can't do it because Bitcoin was overtaken, block size was artificially kept low and people like you bought into a false narrative. / Send the transaction of 1 or 2 dollars worth of...' by /u/vt5r4 removed from /r/linux within 62-72min

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I think I hear chicken sounds.
We both know you can't do it because Bitcoin was overtaken, block size was artificially kept low and people like you bought into a false narrative.
Send the transaction of 1 or 2 dollars worth of BTC within the next block (roughly 10 minutes) with a fee of less than 1% (10 cents) or you're admitting Bitcoin has been hijacked.
Here's a link for you to do the conversions as I suspect you lack the mental prowess to do them manually. [link]1
We're currently at block height 568049. I'll be generous and give you until height 568052--three whole blocks away. I STILL don't think you can do it. Why, because bitcoin has been hijacked.
[link]2
Edit: For anyone reading this that doesn't know what happened go to /btc to find out the truth. Post negative things about the small blocksize in /bitcoin and watch what they do. They will ban you. Post negative things about Bitcoin Cash in /btc and watch what happens--nothing. You'll just get downvoted.
It's easy to discover the truth.
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1: t*o*s.bitcoi*.**m/p*ice-convert**/ 2: live*blo**cypher.co*/b**/
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submitted by removalbot to removalbot [link] [comments]

The real cost of a single Bitcoin transaction is $20+ in terms of electricity. How would this be affected by LN vs block size increases, etc.?

Bitcoin currently consumes 277.00 kWh per transaction, enough electricity to power 9.36 U.S. households for a day. (source) . The industrial national average cost of electricity in the US is roughly 7 c/kWh, apparently cheaper than what it costs in China, at least in 2014 (source). This means the best case scenario, at current costs of electricity, is that the each Bitcoin transaction costs $20. I get that the transaction fees are currently effectively subsidized by the creation of new Bitcoin, but even if it's a couple of decades down the road, eventually Bitcoin will be forced to survive on transaction fees alone.
How would this electricity spending (and effectively, the real cost of each transaction) be affected by LN vs block size increases?
Also, do you guys think this poses a problem for Bitcoin, as well as all other PoW-based cryptocurrencies? If not, why not? If yes, is it merely a small problem, a medium-sized one, or a big one? And how could it be overcome (if not through LN or block size changes)?
submitted by bargebiscuitcandle to Bitcoin [link] [comments]

Bitcoin Unlimited will win because it will service the most transactions. As a smaller and smaller minority of transactions occur on a chain with a centrally capped block size, the chain will become less and less relevant.

Am I wrong? I don't see a way around it.
submitted by jsprogrammer to btc [link] [comments]

How to get the size of a transaction in vBytes with bitcoin core?

If I do
bitcoin-cli getmempoolentry
I get the size of a mempool transaction in bytes, how do I get the size of the transaction in vitual bytes?
submitted by johnturtle to BitcoinBeginners [link] [comments]

In reply to Satoshis's first email (2008): "we will need a layer of account money on top of the bitcoins, supporting transactions of a hundred thousandth the size of the smallest coin, and to support anonymity, chaumian money on top of the account money."

In reply to Satoshis's first email (2008): submitted by shesek1 to Bitcoin [link] [comments]

Hey Wallets: lower the fees you're paying on transactions. The bitcoin price has rose a lot and fees are even higher than they should be compared to the size of the transaction backlog.

Thank you
submitted by Logical007 to Bitcoin [link] [comments]

A different analysis of bitcoin block sizes and transaction fees.

A different analysis of bitcoin block sizes and transaction fees. submitted by oreganoofcorti to Bitcoin [link] [comments]

How to get the size of a transaction in vBytes with bitcoin core? /r/BitcoinBeginners

How to get the size of a transaction in vBytes with bitcoin core? /BitcoinBeginners submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

What's wrong with this solution?

Why can't we make the maximum size of a bitcoin transaction determined in a way similar to how the difficulty is determined? If everyone sends tons and tons of big transactions, the maximum rises, if a lot of people are sending smaller ones, the maximum size lowers. It could be something like 10% to 25% above average block size - readjusted however many blocks.
This allows people to take a risk of sending a bigger block for bigger transaction fee profit, at the risk of having the block orphaned OR they could send a smaller one for less transaction fee profit, but increasing their odds that the block won't be orphaned.
This in conjunction with people sending fees to get their transaction in the block makes all actions determined by the free market and not some arbitrary set rules like block size.
The size can't be abusively raised because the network propagation regulates that, plus if the max is only a percent above the average, it makes it very hard to raise it too rapidly.
Plus it can't be abusively lowered because it's expensive (forfeiting value in transaction fees) and they'd need to get a lot of blocks to adjust the average - as would anyone trying to raise it.
I'm sure there is a problem with it, but I haven't seen it proposed before and I am curious about what's wrong with the idea, if it is possible to implement, or if there is some sort of game theoretic thing I am totally missing.
submitted by Vespco to bitcoinxt [link] [comments]

Bitcoin is DOOMED to fail. Here is why.

I'll try and keep this as short and simple as I can so you simpletons can understand it.
Bitcoin blocks are relayed by nodes once every 10 minutes.
A block carries transactions and must be relayed in order to complete and verify these transactions.
The average size of a Bitcoin transaction is ~550 bytes (Source: Average Block Size divided by transactions per block - Take any point on the graph to test, usually 530-580 bytes)
VISA processes ON AVERAGE 150 million transactions per day. This equates to 1.042 million transactions per 10 minutes. (Source: VISA)
550 bytes x 1.042 million = 573.1 megabytes
That means to match VISA, nodes will have to download blocks the size of 573MB every 10 minutes and upload to multiple other nodes (~5.73 gigabytes of data every 10 minutes) - ALL FOR FREE!
NOTE: A node typically uploads 10x as much data as it downloads. You can see this in the realtime logs of current nodes, all with the same ratio: 1, 2, 3
Each node would require an internet connection with a constant upload bandwidth of at least 76.4 mbit/s based on the above figures.
The total bandwidth usage per node per year would be 331,285.68GB.
For some perspective, at that rate it would take less than 300 nodes situated in the Cayman Islands to saturate their entire international submarine cables - Watch out Erik Voorhees!
Or what about poor old Montserrat, having to share a single 1.34 gbit/s cable with 13 other countries? Just think about it - It would only take a dozen neckbeards or so to sabotage the internet access of an entire country!
Bitcoin will never scale. Your shitcoins will never be worth anything now that the speculators are heading for the exits.
submitted by Wankelberg to Bitcoin [link] [comments]

In reply to Satoshis's first email (2008): "we will need a layer of account money on top of the bitcoins, supporting transactions of a hundred thousandth the size of the smallest coin, and to support anonymity, chaumian money on top of the account money."

In reply to Satoshis's first email (2008): submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Peter Rizun: A Bitcoin Fee Market Without A Blocksize Limit (Episode 172) Bitcoin Core Server for Windows 2016 How to Calculate Bitcoin Transaction Fees When You’re in a Hurry What is a Bitcoin Full Node? Why would I want one? - YouTube

So if your transaction has in inputs and out outputs, the transaction size, in bytes will be: in*180 + out*34 + 10 plus or minus 'in' For example, this transaction has 40 inputs and 16 outputs. That gives us a transaction size of . 40*180 + 16*34 + 10 +- 40 i.e. 7754 +- 40 bytes. The actual size is 7761 bytes. If the inputs are from "pay to pubkey" transactions then the inputs are smaller than ... Bitcoin Blockchain Size – Das Wachstum 2017 , 2018 und 2019. Die ausgeklügelte Mechanik des Bitcoins hat sich in den letzten zehn Jahren kaum verändert. Das trägt natürlich zur Stabilität und zum Vertrauen in das Netzwerk bei, zeigt aber auf der anderen Seite, dass wesentliche technische Herausforderungen noch ungelöst sind. Abgesehen von der Proof-of-Work Difficulty, die für das ... An transaction is a transfer of Bitcoin value that is broadcast to the network and collected into blocks. A transaction typically references previous transaction outputs as new transaction inputs and dedicates all input Bitcoin values to new outputs. Transactions are not encrypted, so it is possible to browse and view every transaction ever collected into a block. Once transactions are buried ... Bitcoin was released with an implicit maximum block size limit of 32 mibibytes (32 MiB), ... The transaction's real size on disk and over the network is 218 bytes, which is the size in bytes of the whole transaction expressed above in hexadecimal. The weight is always greater than the real size, in this case 542 weight units. The size in vbytes would be 135.5. References ↑ Bitcoin Core 0.13 ... 1) Historical Transaction Type Trends: 2009-2015. Non-basic or atypical transaction types began appearing on the Bitcoin blockchain in 2013. Atypical transactions types comprised 0.03%, 1.23%, and 10.15% of the total transaction volume in 2013, 2014, and 2015 (to-date), respectively. 2) Transaction Type Trends vs. Average Transaction Size: 2014 ...

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Peter Rizun: A Bitcoin Fee Market Without A Blocksize Limit (Episode 172)

Talking about Sovereignty https://bitcoin.org/en/download https://bitcoin.org/en/full-node#what-is-a-full-node https://blockchain.info/charts/blocks-size htt... In view of the large size of the blockchain, Bitcoin Core Server for Windows 2016 is a perfect solution to store your wallet at the VM image. It is no longer necessary to download all the ... With both the Bitcoin Unlimited and Segregated Witness efforts far from reaching majority support and exploding transaction fees, the debate around how to scale Bitcoin continues on. One of the ... How to Lower Bitcoin Fee and See Transaction Size in Bitcoin Core - Duration: 3:59. howtwos101 986 views. 3:59. Professor Eric Laithwaite: Magnetic River 1975 - Duration: 18:39. ...

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