Coinbase rolls out Bitcoin transaction batching


Coinbase

By Eli Haims, Product Manager

Today we’re launching Bitcoin transaction batching, a new feature that significantly reduces the load that Coinbase puts on the Bitcoin blockchain and may save users more than 50% on network fees.

Historically, every time a Coinbase customer sent bitcoin, we broadcasted a single on-chain transaction. Starting today, we will be bundling multiple sends into a single transaction — we anticipate that this will reduce our load on the Bitcoin network by more than 50%, and the network fees our customers pay will automatically be reduced by an equivalent amount when sending. This update requires no action from customers, who will immediately see reduced network fees. This release will introduce a small delay in a transaction being broadcast to the network, but will not impact the time it takes for transactions to be confirmed at the normal rate for customers.

Customers will find the network fee reduction in their transaction details

Why are we doing this?

A critical aspect of building an open financial system is to improve usability of Bitcoin’s open protocol. A major obstacle for Bitcoin usability is scalability, or the rate at which the network is capable of processing transactions.

Like traditional payment systems, all Bitcoin transactions are required to pay a network fee, or a processing fee. During periods of high activity on the network, Bitcoin users compete to have their transactions processed, outbidding each other via network transaction fees.

This has led to days when the median network fee for a single transaction was over $30. The size of this fee rendered Bitcoin impractical for low-value transactions. Currently, daily median network fees on the Bitcoin network are ~$0.30 for a transaction.

Supporting transaction batching is one way that Coinbase can help make Bitcoin more usable by lowering network fees overall and freeing up space on the blockchain. This enables the network to increase transaction throughput, and helps to increase scalability.

How does this work?

The Bitcoin network processes transactions by packaging them into blocks and adding these blocks to the end of the blockchain. Each of these blocks has a fixed capacity (in bytes), and one is created every 10 minutes, on average. It is this limited supply of block space, and increasing demand for transaction processing, that leads to high fees.

A single transaction that fulfills multiple user send requests occupies less space in each block than each being processed individually. Put another way: the whole is less than the sum of the parts when it comes to Bitcoin transactions.



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The advantages of Bitcoin over gold

Bitcoin Can be stored and brought in Smartphone, PC, or cloud
When we buy gold, of course, we have to think of where the safe place to save it. If in the safe, you will have trouble carrying it. When taken in a bag, the potential of the item to disappear becomes very large. Once the gold is gone, you have to give up cash because there is no backup program to get it back.

Bitcoin is not like that.

No need to bother to buy iron safes, Bitcoin you can save on the smartphone that you use today. You just need to sign in to the Google Play Store ( Android) or App Store ( iOS) and type ‘Bitcoin Wallet’ in the search box. There you will find various Bitcoin wallets that you can install on your smartphone, such as Blockchain, Airbitz, Copay, Xapo, etc. Install the wallet, open the app and follow the instructions. You may be asked to fill in an e-mail and password to create a wallet. Use e-mail and passwords that have not used in other social media for your security, and never use an identity like your name or birth date as your password.

What happens when your smartphone goes away? I’m sorry if this happens on your iPhone 7, but I can guarantee your Bitcoin will not disappear as long as you back-up it well. Bitcoin backing wallet method is a variety of forms, ranging from a paper wallet, encrypted e-mail, to storage via desktop that not connected to the Internet. Let’s say you’ve backed up your wallet using a paper wallet and now your Bitcoin wallet stored on your smartphone goes away with your iPhone 6. All you need to do is to re-download the app on your smartphone /tablet and scan the QR Code private key written on your paper wallet. If there are no other devices you can use, try using Google’s help to create a new Bitcoin wallet online. When your wallet created, just enter your private key code and all your Bitcoin will automatically move to the new wallet.

Bitcoin, compared to gold, certainly becomes easier and safer to carry wherever you want. Unlike gold that must be sold first to local currency if you want to use for shopping, Bitcoin can be used directly as a means of payment in hundreds of thousands of merchants that receive Bitcoin in the world, including Rakuten, Overstock, and Expedia.

Can be moved anywhere and from anywhere within seconds
Gold is a great means of storing wealth, but one of its most significant drawbacks is: gold cannot be moved easily.

Bayangkan kasus seperti ini: saat ini Anda sedang bekerja di London dan atas alasan tertentu, Anda menyimpan kekayaan Anda dalam bentuk emas. Adik Anda yang sedang berada di Indonesia mengalami kecelakaan parah yang membutuhkan biaya operasi ratusan juta Rupiah. Saat itu hari sabtu dan di London sudah jam 2 dini hari. Uang Anda masih dalam bentuk emas dan Anda tidak bisa menukarkannya ke Poundsterling untuk dikirimkan ke keluarga Anda di Indonesia. Bila Anda kirimkan dalam bentuk emas, akan butuh waktu berhari-hari untuk sampai di Nusantara. Biaya yang dikeluarkan pun akan berkali-kali lipat lebih besar sebagai jaminan agar emas Anda sampai dengan aman di tangan penerima. Apakah ini solusi terbaik yang bisa Anda lakukan?

I’m sure you currently have at least one social media account that you use to send messages to your family or friends, whether it’s via Facebook, WhatsApp, Line or Twitter. I do not need to discuss again here how easy we can send a message from Indonesia to our friends who are traveling in Australia through one of these social media. The message from him will also be received instantly, no matter when and from where he sent it (maybe he was chatting with you at 2 am from the bathroom who knows ).

To be sure, with these social media sites and apps, messaging, pictures, video, and data, all can happen easily. More great, all for free! Imagine if you should communicate with your friends in London using a piece of paper and a pen? Can you directly receive the reply message? Can you send me a letter at 2 am? Can you send a message from your room?

Then, what to do with Bitcoin? Bitcoin is the same as the topic I was talking about, but the word ‘message’ here we change to ‘Bitcoin’ (or in other words: money), and the “social media” application we change into “Bitcoin wallet”. Unlike gold, Bitcoin can be sent anywhere in seconds, whenever and wherever you want. Yes, exactly like when you chat via WhatsApp! Remittances with Bitcoin can happen only with the capital of a smartphone and an internet connection. Shipping costs can remove until free, but to speed up transactions, usually, your Bitcoin wallet will cut costs around 500 – 3,000 rupiah, no matter how much money sent.

No need to pay for extra security
As we mentioned earlier, gold is difficult to move because the level of protection needs to verified with certainty. You can not send 100 grams of gold in an envelope, is not it? Imagine if you have 50 kg of 24 karat gold that you want to move from Switzerland to Indonesia. Maybe you need to hire some personal bodyguard for it.

Bitcoin is very, very, very easy to secure and it costs free. When you create a Bitcoin wallet, you will automatically have a public key and private key. The public key is a series of letters and numbers that you can imagine as a bank account number. Example public key: 1FP1toj2osvcV2EWjEf7SwyPCRuwTr2dTL

This number can be given to anyone in writing or QR Code to receive Bitcoin. There is even a case where a student earns millions in the form of Bitcoin thanks to a poster containing the public key that he brought to the campus event highlighted by ESPN. His picture spread all over the world through the TV broadcast and in a short time, he managed to get so many donations from the community. This can happen because when sending Bitcoin, the sender only needs to scan the QR Code public key of the recipient only.

A public key will connected to a private key. The private key is a sequence of letters and numbers that you need to keep secret. Think of a private key as your ATM pin. Example private key: 5HpHagT65TZzG1pH3CSu63k8DbpvD8s5ip4nEB3kEsrfuuNUQgn

The worst thing that can happen when your public key or bank account number is publicly known is that you can suddenly receive money from somewhere. But if someone has your private key, or pin your ATM card, then he will be able to move your money anywhere, including into his account.

Whether or not your wallet is safe depends on your own. Learn how to secure your wallet early because different from a Facebook account that only contains personal information, your Bitcoin wallet can be worth hundreds of thousands to billions of Rupiah. Very unfortunate when taken over by others, is not it?

Are you getting better with Bitcoin? Continue to monitor our blog to get the latest knowledge and information related to the world of Bitcoin and Blockchain!

Bitcoin Trading

The wild,  surge in the price of Bitcoin,  Has got a lot of attention from the mainstream financial system. Any sober investor understands that he exposed to the cryptocurrency markets. read more.

Despite the promising future of cryptocurrencies in the long term. We notice that The behaviour of bitcoin price is volatile in both directions every hike in its rate followed by a sharp decline, shortly after. continue reading.

This volatility provides traders plenty of opportunities for profits both one rising or slipping markets.

There 2 are primary venues for trading on bitcoin.

The first is by using traditional exchanges where you can trade bitcoin against most fiat currencies and several hundred other cryptocurrencies. The second venue is by trading bitcoin derivatives, such as bitcoin forex and CFD trading and bitcoin binary options. more info.

Trading bitcoin derivatives are suitable for those who want to get exposure to this exciting market yet they do not want to buy or sell actual bitcoins. read here.

Some operators accept bitcoin as a deposit from bitcoin owners who are interested in trading on a variety of markets using their bitcoins.
view all
related articles are available in the links listed below.
.https://bitcoinsmaster.com/bitcoin-trading/

VPN providers that accept Bitcoins

One of the benefits of using Bitcoin is the increased anonymity it provides to its users. The synergy that combining proxy anonymizer and bitcoin is obvious. and paying for the VPN with bitcoin is even better.

A proxy is a software that acts as a mediator for the communication between servers and clients. A client connects to the proxy server requesting a data file, connection, web page, or another type of data available from another server. The proxy server may filter traffic by IP address, port or protocol then it provides the resource by connecting to the target server and requesting the service on behalf of the client browser. A proxy server may optionally modify the client’s request or the server’s reply.

A proxy server has a large variety of applications, including:

To keep users/ machines behind it anonymous
To bypass security/parental controls
To bypass geographical content restrictions.
To bypass restrictions that online games or websites set on per IP basis.
A proxy server that passes requests and replies unmodified is usually called a gateway.

Bypassing filters and censorship

If the destination server filters content based on the origin of the request, the use of a proxy can remove this filter. For example, a server using IP-based geolocation to restrict its service to a certain country can be accessed using a proxy located in that country to access the service.

Accessing services anonymously

An anonymous proxy server (sometimes called an HTTP proxy) increases the anonymity of web users. There are several varieties of anonymizers. The target server receives requests from the anonymizing proxy server and consequently does not receive information about the end user’s address.

Some anonymizing proxy servers may forward data packets with header lines such as HTTP_VIA, HTTP_X_FORWARDED_FOR, or HTTP_FORWARDED, which may reveal the IP address of the client. Other anonymizing proxy servers, known as elite or high anonymity proxies, only include the REMOTE_ADDR header with the IP address of the proxy server, making it appear that the proxy server is the client. A website could still suspect a proxy is being used if the client sends packets which include a cookie from a previous visit that did not use the high anonymity proxy server. Clearing cookies, and possibly the cache, would solve this problem.

BITCOIN casinos

Bitcoinsmaster.com has researched and tested most bitcoin casinos around the web
the result:
Best BitCoin Casino site List:

Potential Benefits for utilizing Bitcoin for casino Players

Fast and straightforward deposits and withdrawals. Bitcoins transactions just take a couple of minutes and with only a couple taps on your PC or cell phone.

Provably fairness system keeps the web wagering knowledge more secure and robust without 3rd parties supervision. Probably Fair ensures all bettors in a duping free environment.

Anonymity over the Bitcoin network secures and engages players. Most bitcoin casinos and Gambling site do not require any personal information upon registration some even do not need an Email address.

Since bitcoin provides substantial benefits for the bitcoin casino operators as well, bitcoin casino afford to offer higher payout rates to their customers

Bitcoin CFD Trading

Generally, you have two choices to invest in bitcoins. fist you can buy bitcoins online or offline or you can trade bitcoin CFD (Contract of difference) ).With CFD you can profit both from a rise or a decline in the price of bitcoin. You also may use leverage, which allows you to multiply your profits
Let’s say you buy 0.1 BTC with the leverage of 1: 5, with the rate of 14 447 € 1 unit. After a week bitcoin price rise to € 15,603, how much you earn?
.It is simple> (number of units * rate) / leverage -> (0.1 * 14 447 €) / 5 = 289 €. In trade and then enter 289 €, but the profits and losses receive as if traded with 1 445 € (0.1 * 14 447 €) that is due to the effect of leverThe lever 1: 5 means that the broker will pay five times your investment in order to trade the larger size of the coins, and so grow your protentional profits but also any losses.The profit we expect in the following way -> (number of units * rate after one week) – (number of units * the beginning rate) = (0.1 * 15,603) – (0.1 * 14,447) = 1560-1445 = 116 € .The calculation of the loss works in the same way, except that there is a negative number. To trade Bitcoin CFD I recommend 24option. They have a simple platform that is welcoming to users, they have the lowest spreads and support for users who work 24 hours a day five days in the week.

Some providers offer Bitcoin CFD Trading. CFD provides traders exposure to all types of financial assets, index, or commodity short or long leveraged positions – without having to physically own the underlying asset itself.The extreme volatility of Bitcoin price makes it very attractive to day traders.
Bitcoin was defined as a commodity by the CES.

Bitcoin Affiliate Programs

Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts
In short, an affiliate program is a program that pays you money for bringing new customers to their website. Through affiliate program, you basically become a marketing agent for a website which offers services or goods and can now generate revenue without actually having a product. All you need to do is make sure you bring targeted customers to your partner which you are affiliated with. Affiliate programs are amazing in the sense that they allow you to start creating revenue from day one, and they are super simple to get started.

Advantages of bitcoin affiliate programs.

1) There is no need to actually provide a product or service.

2) When it comes to legal liability the affiliate is commonly overlooked. that means you can feature bitcoin gambling sites, financial services, replica products shops and other services that normally require regulations or are prohibited by law without much of concern.

BitCoin Affiliate marketing can be done by various mediums. Email marketing, Social networks.PPC campaigns, Reviews sites, and blogs. Posting in related forums blogs and communities and so on.
Best Bitcoin affiliate programs.
Bitcoin affiliate marketing.
Bitcoin Referral programs
Bitcoin affiliate network

Bitcoin binary options

Bitcoin is the exciting innovation in the 21st century some even consider it the biggest thing after the internet itself. It has gained great reputation and big users base over the past years when is rose to a value of over $1300. The extreme volatility of Bitcoin makes it very attractive to investors and traders. Binary Options brokers began offering Bitcoin as an underlying asset in early 2013.

There are two different approaches to trade bitcoin binary options trading. The first is to use it as a payment method in order to hedge against a sharp price decline. BTC owners deposit their Bitcoins at the site and trade using the various assets.
The second approach is trading Bitcoin as an underlying asset. This approach is most suitable for traders who can not, for various reasons, buy actual bitcoins, tradeable yet they are interested in getting exposure to this innovative financial assets.
for those binary options trading is the ideal way to make profits on bitcoin price movements with actually owning and securing bitcoins Several brokers offer bitcoin as one tradable underlying assets, while others deal exclusively in Bitcoin trading.
BitCoin Binary options Brokers
With Bitcoin Spread betting, CFDs FX and Binaries day traders can take leveraged short or long positions on bitcoins prices without actually buying bitcoins the online trading market offers a variety of bitcoin contracts.
the most popular Bitcoin exchange rate is the XBT to USD rate. XBT is commonly used as a code for Bitcoin in the financial community but it is also known around the web as BTC. Some brokers offer XBT/GBP XBT/EUR and XBT/JPY. MetaTrader 4 (MT4) trading is also available.