How Much Does It Cost To Buy Cryptocurrency At Exchanges?
Bitcoin-Qt version 0.8.3 released - Bitcoin - Open source
What can I do after a Bitcoin transaction (with the usual 0.0005 BTC transaction fee) doesn't generate a hash even after 24 hours?
I sent some bitcoins to Coinswitch.co . However, it's been 24 hours and my coins still haven't reached them. I spoke to their customer care and they confirmed that they haven't received anything. I logged into my exchange from where I had sent, and checked the transaction status. It's showing as "sent successfully" but there is no transaction id / hash. The hash just shows as "waiting" with a spinning logo. I called up the exchange and they're saying that there's nothing that they can do about this. Is there anything that i can do from my side? There is no option to set the transaction fee or else I would have gladly increased it.
What's the deal with transaction fees? Given that Bitcoins are now worth so much more than they used to be, is 0.0005 still appropriate?
I sent my buddy €5 in the form of BTC today so he could pick me up a sandwich down the street. Only later did I realise that I actually spend roughly €5.05 in the process. Granted, it's only 5cents, but in the long run, with a number of smallish transactions, that does seem like an awful lot -- especially if we expect to see Bitcoin excel in microtransactions. TL;DR: Is the 0.005BTC fee still considered reasonable, given that the real value of bitcoins is increasing so rapidly?
So I have a question that I have yet to see anyone ask or let alone answer. I'll try to word it neatly.
Scenario A: So we all know that in Lightning a channel partner can attempt to steal funds from their partner by transmitting an older state that's favorable to him. The only way to prevent theft is by having the other channel partner submit a more recent channel state and then the attacker is punished by having their funds forfeited. So in this scenario that attacker risks their current LN balance for w/e gain in older channel states he's submitting.
Scenario B: Lets say there's a merchant accepting Lightning payments and sells... hats for $20. A new LN user shows up and loads his balance to $20 on LN and uses it to purchase the 1 hat from the LN store, leaving his LN balance at $0 after the purchase. Should he now attempt to transmit an older favorable state where he still had the $20, then he risks literally nothing as even if he's struck by a justice transaction he'll forfeit nothing since his balance is zero. It seems like there's no reason NOT to attempt a theft attempt in this scenario since there's nothing to lose in terms of money on LN.
Am I not seeing something, or how are would be thieves punished in the case of a scenario where they risk nothing to regain their money back?
I wanna start off saying im a complete crypto noob so thanks for dealing with what might seem like ignorant questions. I just bought about $50 btc on coinbase; learned I got raped in fees and now have setup a electrum wallet verified sig using wingpg and then sent a small amount to my electrum wallet from coinbase as a test to learn how to send coin to my wallet and even made my buddy setup a wallet so I could learn how to send. What are the exchange fees from transferring crypto from electrum to let's say a trezor hardware wallet? I'm thinking of using one of those and what are those fees going to usually? Also what's the best way to buy btc without paying a huge service fee. Thanks in advance for all the advice!
A pound of feathers and a pound of bricks weigh the exact same, but $1 of BTC and $1 of BCH are not worth the same.
I've been hosting some pretty popular freeroll BCH tournaments on https://blockchain.poker this week. Yesterday, the winner of the tournament asked about trading his "useless" BCH winnings for BTC. I posted this comment explaining why it makes absolutely no sense to use BTC for a tournament:
Someone asked in the site chat if they could "flip these useless BCH sats for bitcoin" (of course you can), but I'd like to explain with some simple math why BCH is ideal for running these tournaments. The median fee to send a BCH transaction is $0.0005, while the median fee to send a BTC transaction is $0.74, according to https://bitcoinfees.cash. The evening tournament had 217 players and paid out the top 59 finishers. Of these 59 people ITM, only the top 16 paid out more than $0.74. If I was running the same tournament with BTC, that means that 33 people who were ITM and had "winnings" would have nothing at all, as the fee to send the BTC off-site would be greater than the total amount won. It's actually worse than that, though. Suppose I finished in 7th place and won $1.50. I withdraw the BTC to my own wallet and the site has to pay a $0.74 fee to send it to me, so I'm only getting paid $0.76. BUT I STILL HAVE NO MONEY. Because I'll have to pay another $0.74 fee to send that BTC anywhere, I effectively only have $0.02 of spending power, and no one will accept 2 cents of BTC because they will be facing the same conundrum. Maybe you're a whale and a $0.74 fee doesn't mean anything to you, but most people aren't depositing $1000 at a time to poker sites for that fee to be negligible. And even if you are a whale, it's still -EV to pay a $0.74 fee when you could pay a $0.0005 fee for the exact same service.
If anyone is interested, these tournaments have been pretty popular with the /poker community, averaging around 190 players in each one (and the tournaments have been password protected). I think blockchain.poker has seen hundreds of new users this week as a result. Unfortunately I can't afford to keep paying 0.25 BCH per day out of pocket to keep them going, but as long as casinos are closed and everyone is quarantined at home, I would like to keep them going, so I'm looking for sponsors for these tournaments. If you're a business and would like to sponsor, your logo will be displayed on the table felt to 200 users for ~2 hours straight, and the link of your choosing will be listed on both the tournament information page and on the dialogue that pops up when a player busts out of the tournament. DM me if you're interested. If you want to help keep these tournaments going but don't care about promoting a specific logo/link, all chaintips/tippr tips sent to me in this thread will be used for funding more freeroll tournament prize pools.
Bitcoin is scarce, decentralized, and global digital money that cannot be censored.
Transactions generally cannot be reversed
Less than 21 million Bitcoin will exist
Bitcoin is highly divisible to allow for micro-transactions (up to 13 decimal places in a payment channel)
Bitcoin is an open, collaborative project that no company or government controls belonging to the people
Bitcoin is more than just money, but a secure timestamping ledger, payment rail, and smart contract platform
Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading.
Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like Robinhood, Revoult, and Etoro should be avoided because you cannot withdraw or use Bitcoin.
Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal.
Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit. More exchanges per location
Three Unlimited Blockchain Technology Platforms For Making Money
https://preview.redd.it/oey0uen5dpy41.jpg?width=2400&format=pjpg&auto=webp&s=61e7cf74e850d2a29a569837837fc327af146540 Ever since Blockchain came into existence, we have seen it create a lot of fervor in the market. There have been a number of changes across the different industries. Not only has it become an integral part of a business network, but at the same time, Blockchain has also become one of the best career options. Undoubtedly, Blockchain is one of the platforms to make money. There are various Blockchain platforms that can help you make money; we will be exploring the same in this blog. Blockchain Platform For Making Money: Big corporations are now plunging in the pool of Blockchain technology. They have been positively disrupted by this technology, but it’s not just them, there are various new ventures that are entering the business. Let’s explore how can we make money using Blockchain: A Platform For Earning Bitcoin : XBT Freelancer- Well, Bitcoin is the granddaddy of cryptocurrency and is to set the fervor of the digital currency revolution. So, the first platform that we are taking into account is the platform to earn Bitcoin. XBT freelancer is a great way to earn Bitcoin and is designed for freelancers. It includes some big names in Blockchain like Coinbase and Shapeshifts in addition to other blogging, SEO jobs, and marketing companies present out there. USP: This platform allows the freelancers to set milestones of set pricing with the employers. It helps the freelancers get money when they achieve their milestones, and the employer can give constant feedback on the work done by the freelancer. Earn in:Bitcoin Fee: The listing of jobs on this platform is free of cost. However, there is a 0.0005 XBT (USD 60 cents) miner fee for each Bitcoin withdrawal. Freelances pay 10% of the total amount of the milestone that they perform. A Platform For Earning Ether: Ethlance: Our second consideration is earning Ether. Earning via Ethlance is very easy. There are a number of jobs listed on the portal, and it is the only platform offering earning in Ether. USP: It is the first marketplace built on the Blockchain. While other portals are regular ones, Ethlance offers benefits that come with Blockchain. It also offers a series of tutorials on YouTube. The code is open source. Earn in: Ether Fee: There is no fee; however, you will have to pay the gas fee while submitting the transaction on the Ethereum network. Since there no fee, the platform doesn’t offer any dispute settlement. Upcoming Platform eDev.one- It is an upcoming platform that will be built on the OpenLedger Blockchain. This platform will have its own currency JOYY. The contract will be paid in USD or crypt. Earn in: USD, BTC, ETH, BTS Fee: the platform will charge up to 12.5% — 2.5% client, up to 10% for the freelancer based on the milestone. The platform will also offer full admin service and also support in the case of a dispute. These are some of the common platforms which freelancers can explore. Blockchain offers a wide number of options, and these platforms are just one of the many ways via which Blockchain can help in making life simpler. To make the best use of any Blockchain platform, it is important that one must have knowledge about this technology. Going for Blockchain certification offered by Blockchain Council is a great way to make money. So, don’t wait for any Blockchain, the technology is evolving every day, and you must take the early bird advantage.
Buying crypto on eToro - short review (USA resident)
I got the green light from my wife to put some more money into crypto not too long ago. When the market tanked I wanted a quick way to deposit. I looked for an exchange that would allow me to link my bank account for lower fees and quicker loads. Coinbase is not an option for me, I was banned for there years ago, they would never tell me why but I assume it is for sending BTC to a place they weren’t happy with. Kraken, Bittrex, Bitstamp - they all are wire only. I wanted to try Vertbase but for some reason they had some rules that I did not like. Can’t remember what it is now but it was a complete deal breaker - you can’t just buy some bitcoin and send it away easily. I came across eToro and learned they can hook up with your bank, and they didn’t have the same weird rules as Vertbase, so I gave it a try. I will not five too deep into the platform, as I did not use many features, but here are some points I would like to share: - Verification was super easy, required no photos, and I am genuinely surprised I have my btc on my ledger without further identity steps. Not sure what the limits are, I bought less than 1 BTC. - I was able to begin trading extremely fast. Within minutes of initiating my first deposit, I was able to trade. The exact amount that was debuted from my bank account showed up in my eToro account, no fees. - They have two ways to initiate an order - “trade” and “order”. Trade mentioned leverage, and on the initial screen would not let me adjust the buy price. Perhaps there was a screen somewhere to enable advanced options but I was not interested in that. “Order” allowed you to name the price your order would fill. There is no order book or chart, it is very simple. - Going to the order screen from the price/stats page would display a bitcoin price of .75% higher. Other crypto’s have varied spreads, or fees, with BTC the lowest. This is a pretty good fee, especially when your deposit was free. - In order to withdraw my BTC, I had to create a wallet, which is a separate app. You then have to initiate a withdraw, which cost .0005 BTC. Unfortunately if you laddered your buys as I did - the app treats every individual sale as individual, so each one incurred a .0005 BTC fee to withdraw to my wallet. That kind of sucked, I had 6 or 7 orders. - I received my BTC in my wallet the next day. The wallet advertises that they keep your private keys so it’s so easy and safe- you log in with your regular account name and password. So not a good idea to store there. - Once in that wallet I immediately attempted to withdraw to my ledger. This was frustrating as it displayed the fee to withdraw, which wasn’t too bad, so I subtracted it from my total and tried to withdraw. It appeared to work but then going back to my account it said it failed due to insufficient funds for fees. I tried to withdraw about 4 more times, and on the last attempt, I was getting worried that this was going to turn into a problem, but it went through. Kind of annoying they don’t tell you how much you need, as now I have a few dollars left sitting there, went too far, and I’ll probably never retrieve it. But voila, I checked the block explorer and literally less than a couple minutes my transaction was there and the balance showed at the address, albeit the transaction still needed to be confirmed. I checked hours later and my btc is safe on my ledger. - eToro claims you cannot withdraw crypto until after 25 days after your initial deposit, but I was able to a week after my first deposit. All in all - eToro had a big learning curve to understand how to use it. I did not find it intuitive in the least. But I am truly amazed at the low cost and speed at which I was able to both deposit and withdraw. I spent a week buying and selling a little, I wonder how fast I could have gone from deposit to withdraw had I just bought one order and immediately attempted the withdraw. Takes awhile to figure out but if you are a USA resident, want a cheap and easy way to buy some crypto, definitely worth a look. P.S. - I both started a ticket and a chat when attempting to withdraw the btc to my ledger, as the platform said my USD withdraw was pending. I was scared it wouldn’t work. But it was just they way they do it. Very complicated in some ways. Submitting the ticket said it would be up to 7 days to get a response so I started a chat. Took about an hour for representative to come online but she was helpful. I had an email a few hours later from support answering my ticket question. So customer service was adequate.
Hello there! I've been getting familiar with bitcoin for the last couple of days and am very enthusiastic about this whole new system. But I still have one question and I'm wondering how it works since I haven't made my first purchase yet. If I were to buy a product using bitcoins, on a website for example, how does the server know who made the payment? For example on https://www.coindl.com/ Let's assume I'm willing to buy a product from the list on the start page. How does the website know it's me who payed and not some other user who's looking at the same offer at the same time? I guess they could be using a different key for each customer, but then I imagine that this would require them to handle hundreds and hundreds of different keys, some with ridiculously small amounts. And if they wanted to "bundle them" it would cost them a lot in transaction fees, which might be small but might add up considerably. I was also thinking that they could be using labels. I've seen that some people list their address as 1NICKNAME-Rest of the key. (Or Is this just a coincidence? http://blockchain.info/fb/1ninja) How exactly does that work and does the recipient know whether the coins were sent to an address with or without that label? Thank you very much!
How does adding +.0005 to a transaction mark it as significant?
What happens if I was charging somebody/somebody was charging me a price like .1125? If I sent .113 how would the network know I wanted a significant transaction? Are there any other fees you can attach to trigger responses? Might be worded slightly out of lingo.
Technical Question: duplicating private/public keys in an offline scenario
Hey, so my question is this: if you create an offline wallet using your software of choice (bitcoinQT for example) and the computer is never connected to the bitcoin network; how does the bitcoin network know NOT to assign the public address of your wallet to another client/user? I'm assuming here, based on my own knowledge of the system, that public addresses and associated private keys are created when bitcoinQT is installed and run. I'm also assuming here that public addresses are verified through the network by accessing the network while connected through an internet connection. To reiterate my question above, if the client is never connected to the internet, is it possible for a public address to be duplicated? How does the system circumvent this problem? Please answer, correct my words and/or provide as much detail as you can and have time for, and thanks in advance!
Hol' up. What makes my BTC transaction fee so ridiculously high?
I found a cool steam key deal and key shop offered option to pay with bitcoin. I have some cryptos stashed on the exchange and decided that it would be good to buy something with it instead of just using it as an investment. So I go click, click, let's send a 0.0005 BTC (around $5) and it says that I don't have enough BTC to make a transaction. I use withdraw all funds to check what happens and all I can withdraw is 0.00017309 BTC and the fee is 0.00045 BTC... I get it we need to pay fees for all the security thingies but for real - what the hell, why do I need to pay 200% fee? Is something wrong on my end or is it normal in cryptocurrencies world? I don't think we are going to make it to the mainstream if fees are so ridiculously high.
Official Website: https://cryptomixer.is The mixing procedure on the platform is very simple and quick. There is no need to register since you can start mixing when you open the website landing page and press the ‘Start’ button. You will be redirected to the page where you need:
To provide a CryptoMixer code (invent and write it down if you use this service for the first time);
To enter bitcoin forward to address or several of them (up to 10). Funds are distributed by percentages indicated next to each address. It is possible to adjust them on the bar under the service fee bar:
Set a delay (optional). The system determines a delay time automatically and shows it next to each destination address. It can be adjusted on the bar at the bottom of the page too;
Select a service fee by dragging the bar. The minimum fee is 0.5% plus 0.0005 HTC for every transaction. It can be lower if you mix a bigger amount of cryptocurrency (for example, 0.25% for mixing 1,000BTC).
When all this information is provided, it’s necessary to press ‘Continue’ and accept two terms of the platform. then, you’ll get to send funds to the platform to the address generated or scanning a QR code provided. This page also will provide you with to download a Letter of Guarantee for your security.
"Trends, Tips, Tolls: A Longitudinal Studyof Bitcoin Transaction Fees" fee study from 2015 brings up sweet memories
Since today there have been some posts in various subs by a user who was outraged by high transaction fees to consolidate his coins, I went down memory lane by searching for old statistics about Bitcoin fees. I found this little gem online, a study about transaction fees by Malte Möser and Rainer Böhme from a university in Germany and Austria who analysed fee development from 2011 - 2013. They analysed 55 million transactions from the early days of Bitcoin. Just some of my favorite parts:
On top of that, Bitcoin users are encouraged to pay fees to miners, up to 10 cents (of USD) per transaction, irrespective of the amount paid.
The long-term level of fees is uncertain, yet the question is highly relevant given its connection to the security and sustainability of the system as a whole. Several authors speculate that high fees will render Bitcoin uneconomical for micropayments [14, 20, 29]. Other plausible scenarios include vast variations in fees paid depending on users’ time preferences, ...
Competitive miners make positive expected profits only if transactions compete for space in the block chain. Hence, Houy  argues that a maximum block size is necessary for the stability of Bitcoin.
In practice, historical transaction fees in Bitcoin were so small that senders and miners did not care a lot. Many users kept the default value for the transaction feethat is hard-coded in the client software, thereby following a sort of social norm,like for tipping, rather than economic calculus . Likewise, miners followedhard-coded rules  to include zero-fee transactions even against their own best interest.
Half of all zero-fee transactions had to wait more than twenty minutes for their first confirmation. In contrast to that, paying a fee of 0.0005 BTC lead to an inclusion into a block in half of the time. While this seems acceptable for less time-criticaltransactions, the 90 % quantile shows a more extreme difference. Ten percent of all zero-fee transactions took almost 4 hours to confirm, in contrast to 40 minutes for transactions paying a 0.0005 BTC fee.
The results show that twopools, Discus Fish and Eligius, have a considerably higher share of blocks without any zero fee-transaction: 29.2 % for Eligius and 72.5 % for Discus Fish (sinceJanuary 2014) – in contrast to an average of 17.7 % .
If this makes you hungry for more info, check the pdf out that is available online here containing this fascinating look back into the history of Bitcoin fees.
The real reason NANO is not a billion dollar cryptocurrency.
Send 1 Nano. Receive 1 Nano. If you have ever wondered like me why Nano is not a billion dollar cryptocurrency in spite of being ultra fast and completely fee-less, you already know the answer : ADOPTION. Now the question becomes: why is NANO taking its sweet time getting that adoption? NANO is unique in two aspects and both of these are affected negatively by lack of adoption.
ZERO fees Zero-fees is the feature of the perfect money. That benefit is offset by volatility.If you have a Bitcoin wallet with 1 BTC and you move everything to another wallet you will have 0.9995 BTC. The cost is 0.0005 BTC more. On the other hand, if you have 4200 Nano worth 1 BTC and you move everything to another wallet you will still have 4200 Nano, but in terms of Bitcoin you will have less or more. The cost? No clue.The point is savings in fees is insignificant compared to volatility.
Micro-transactionsThis is Nano's killer feature. Right now NANO is the best way to send micro transactions. The advantage will be lost forever if no services are built to use it. From tipping content creators, social media to streaming services, the opportunities are truly endless.
Ultra-fastAgain, if all we can do with Nano is to tip each other or buy gift cards, the opportunity is wasted. Any cryptocurrency can do that. BUIDL.
To make NANO great, we need adoption and for adoption we need better products and services that are built for NANO.
The default fee for low-priority transactions is lowered from 0.0005 BTC (for each 1,000 bytes in the transaction; an average transaction is about 500 bytes) to 0.0001 BTC. Payments (transaction outputs) of 0.543 times the minimum relay fee (0.00005430 BTC) are now considered ‘non-standard’, because storing them costs the network more than This transaction is in the memory pool. Received: 18 minutes, 29 seconds ago; 0.00019981 BTC 564 bytes. Serialized | Visual. View JSON; Download Raw Tx; I'll let you know about cool website updates, or if something seriously interesting happens in bitcoin. Don't worry, it doesn't happen very often. Market Cryptocurrency Counter currency; BCH/BTC: BCH 0.002 - BCH 40.00: BTC 0.0005 - BTC 2.00: BCH/ETH: BCH 0.002 - BCH 20.00: ETH 0.01 - ETH 100.00 Because the fee is not related to the amount of bitcoins being sent, it may seem extremely low (0.0005 BTC for a 1,000 BTC transfer) or unfairly high (0.004 BTC for a 0.02 BTC payment). The fee is defined by attributes such as data in transaction and transaction recurrence. For instance, a user withdrawing bitcoin from LBank will be charged a flat fee of 0.0005 BTC. There are also withdrawal minimums for each cryptocurrency that are also set as fixed quantities of
CannibisCoin transaction fee: 0.00010000 CANN LiteCoins transaction fee: 0.010 See the difference? Fee: 0.00010000 CANN Net: 712.85860375 CANN ($314.91 NZD) My fee for sending CANN from Cryptopia ... 0.0005 btc to usd bitcoin cash abc xrp btc bitcoin value chart 1 btc to dollar btc faucet bitcoin transaction fee 0.005 btc bitcoin doubler club dollar to bitcoin bitcoin profit calculator 0.0005 btc to usd bitcoin cash abc xrp btc bitcoin value chart 1 btc to dollar btc faucet bitcoin transaction fee 0.005 btc 0.001 btc to inr bitcoin doubler club dollar to bitcoin LINK REGISTRASI : https://bit.ly/3iKglGO (MULAI 6 JULI 2020) daftar triv (jual beli perfectmoney dll langsung ke rupiah) (wallet crypto terbaik INDONESIA) : ... Low Transaction Fees Wallet In Bitcoin Must Watch Bitcoin User Cryptonator? ... 0.08 Btc Whitout Investment Minimum Payout 0.0005 Btc in Hindi? ... Exchanger with Minimum Transaction FEE 0.0002 ...