Any computer that connects to the Bitcoin network is called a node. Nodes that fully verify all of the rules of Bitcoin are called full nodes.In other words, full nodes are what verify the Bitcoin blockchain and they play a crucial role in maintaining the decentralized network. Full nodes store the entirety of the blockchain and validate transactions. Anyone can participate in the Bitcoin network and run a full node. Bitcoin.org has information on how to set up a full node. Running a full node also gives you wallet capabilities and the ability to query the blockchain.
|Exchange||Segwit Status||Batching Status|
|SegWit Enabled Wallets||Wallet Type|
|Ledger Nano S||Hardware|
NOTE Just a daily repost because original OP Bastiat seems to be offline (due to holidays I guess). However, this is quite important as I see much misinformation on which exchanges use segwit or not. Please upvote for awareness.
Subhan Nadeem has pointed out that:
If every transaction in the Bitcoin network was a SegWit transaction today, blocks would contain up to 8,000 transactions, and the
138,000176,000 unconfirmed transaction backlog would disappear instantly. Transaction fees would be almost non-existent once again.
A few thousand bitcoin users from /Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make it happen. You can help by taking one or more of the action steps below.
IMPORTANT NOTE: The mempool is currently overflowing. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange
- If your favorite wallet has not yet implemented SegWit, kindly ask them to do so immediately. In the meantime start using a wallet that has already implemented SegWit.
- If your favorite exchange has not yet implemented SegWit, try to avoid making any further purchases of bitcoin at that exchange and politely inform them that if they do not enable SegWit within 30-days they will lose your business. Sign-up for an account at a SegWit deployed/ready exchange now and initiate the verification process so you'll be ready to bail
- Help educate newcomers to bitcoin about the transaction issue, steer them towards SegWit wallets from day one, and encourage them to avoid ever purchasing bitcoin through non-SegWit ready exchanges that are harming bitcoin
SELECTED TOP EXCHANGES BY SEGWIT & BATCHING STATUS
Smaller exchanges which have implemented Segwit
Exchange Segwit Status Batching Status Binance ?NOT READY Yes Bitfinex Not deployed ? Bitonic Not deployed ? Bitstamp Deployed Yes Bittrex ? Yes Coinbase/GDAX NOT READY No Gemini Not deployed No HitBTC ReadyDeployed Yes Huboi ? ? Kraken Not deployed Yes LocalBitcoins Not deployed ? OKEx ? ? Poloniex Not deployed Yes QuadrigaCX Deployed Yes Shapeshift Deployed No
Source 1Archive Source 2
Exchange Segwit Status Batching Status Zebpay Deployed Yes Wirex Deployed ?
After seeing this, is it any wonder that 90% of transactions on the network are not using the SegWit technology? And then is it any wonder that fees are ridiculous?
Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction. Next time you need to send a transaction, use "pay to many" and set your second recipient to be your address in a SegWit wallet you control. However, if you have received a lot of payments to your old software, be aware that this could be a large (bytes) transaction and therefore you might be better off waiting. You will have to decide whether it's worth taking the hit now to prevent wasting money on fees in the near future vs not spending any coins until SegWit adoption is higher.
SegWit Enabled Wallets Wallet Type Ledger Nano S Hardware Trezor Hardware Electrum Desktop Armory Desktop Edge iOS GreenAddress iOS BitWallet iOS Samourai Android GreenBits Android Electrum Android/iOS Coinomi (In progress) Android TODAY's NEWS/DEVELOPMENTS/VICTORIES
- Core is considering prioritizing SegWit GUI in the Core Wallet and pushing out an update fast without waiting for other features
- An Exodus Wallet representative has said they will not enable SegWit for now
- Largest exchange in Brazil implemented withdraws using Segwit
- BitInfoCharts.com - Average Transaction Fees - median $24USD per Tx
- Blockchain.info - Unconfirmed Transactions - 176K Unconfirmed Tx's
- SegWit Charts - 10% SegWit Tx's
If I'm a HODLer, will it help to send my BTC to a SegWit address now?
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
- No, just get ready now so that your NEXT transaction will be to a SegWit wallet. Avoid burdening the network with any unneccessary transactions for now.
What wallet are you using to "batch your sends"? And how can I do that?
- The Bitcoin core wallet does not yet have a GUI for its SegWit functionality. Download Electrum v3.0.3 to generate a SegWit address.
A transaction between two SegWit addresses is a SegWit transaction.
A transaction sent from a SegWit address to a non-SegWit address is a SegWit transaction.
A transaction sent from a non-SegWit address to a SegWit address is NOT a SegWit transaction. You can send a SegWit Tx if the sending address is a SegWit address.
Why doesn't the Core Wallet yet support SegWit?
- Using Electrum, the "Tools" menu option: "Pay to many".
Just enter your receive addresses and the amounts for each, and you can send multiple transactions for nearly the price of one.
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
- The Core Wallet supports SegWit, but its GUI doesn't. The next update will likely have GUI support built-in
- Draw your own conclusions based on their own words:
March 2016 - Coinbase CEO Brian Armstrong has reservations about Core
Dec 2017 - Coinbase is STILL working on Segwit
SEGWIT BLOG GUIDES
PREVIOUS DAY'S THREADS
There's lots of excellent info in the comments of the previous threads:
- Day 1: If every Bitcoin tx was a SegWit tx today, we'd have 8,000 tx blocks & the tx backlog would disappear. Tx fees would be almost non-existent once again. THE NEXT BITCOIN TX YOU MAKE, MAKE IT A SegWit TX. DOWNLOAD A SegWit COMPATIBLE WALLET AND OPEN A SegWit COMPATIBLE EXCHANGE ACCOUNT RIGHT NOW
- Day 2: I will repost this guide daily until available solutions like Segwit & order batching are adopted, the mempool is empty once again, and transaction fees are low. You can help. Take action today
- Day 3: [I will repost this guide daily until available solutions like SegWit & order batching are mass adopted, the mempo...
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