A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
Bitcoin and most cryptocurrencies expose your entire payment history to the public. Zcash is the first open, permissionless cryptocurrency that can fully protect the privacy of transactions using zero-knowledge cryptography.
Problems with Bitpay and BIP70 Bitcoin payment protocol
I've been taking some heat for my criticisms of Bitpay and their requirement to use BIP70 payment URLs, so I thought I'd do a post about the subject. My experience with Bitpay has been disastrous. I've seen the BIP70 payment URLs completely fail many times, in several different ways. Several times I've made a BCH payment only to be told that Bitpay can't process BCH right now, resulting in a long process of obtaining a refund. Several times I've had the payment time out due to network congestion, again requiring a refund. Several times I tried to decode the Bitpay BIP70 URL with this tool and others, but those payments failed as well, again requiring a refund. Sometimes the Bitpay API server was down, making payment impossible. Other times my wallet wasn't supported. In short, every time I see a merchant accepting only Bitpay payments via BIP70, I reconsider if I want to continue trying to pay that merchant and deal with the inevitable resulting headache. Others have said "it works, it's part of the industry, it's needed to prevent mistakes and double spends", etc., but that has not been my experience. I make direct crypto payments to exchanges several times per week, and only once have I ever made any mistake (sent BTC to BCH address). For me, Bitpay is both "dumbing down" and killing the payment process, and they're taking away the easiest and most obvious option - pasting two fields into my wallet and clicking a pay button. In my opinion, here are the root problems with Bitpay and BIP70:
Does the Ledger Wallet Bitcoin desktop application support the Bitcoin Payment Protocol as a receiving address?
So far, whenever I move money, I provide that long alpha-numeric string as the receiving address. But I just tried to buy the BitPay Card and was given something like the following to be the receiving address - bitcoin:?r=https://bitpay.com/i/8nXJxvuMCHwM2oLz41Bi7A Note - I changed the actual URL for privacy but this format is the same. BitPay's site listed some wallets that are known to support this protocol but Ledger wasn't mentioned. Does anyone know if I can use my Ledger Wallet Bitcoin app? If I can't, is this an upgrade coming soon? Or does Ledger provide a workaround to this when trying to pay someone that doesn't provide the old alpha-numeric address? PS - here's the site that explains the new protocol: https://github.com/bitcoin/bips/blob/mastebip-0070.mediawiki
It refers to a "Bitcoin Payment Protocol" - what is this? I hear this was introduced in 2013. But after using Bitcoin for more than four years, this is the first time I come across this. Does Ledger Wallet plan to implement this feature? I want to use this with my Nano S. Thanks!
Apparently this is an old thing, albeit rarely used, that BitPay is now requiring. Instead of giving us a BTC address it gives us something like: bitcoin:?r=https://bitpay.com/i/XXXXXXXXXXXXXXX I just had an invoice that I couldn't pay with the Trezor web wallet (they suggest using Electrum), but I was wondering if the Ledger Nano S wallet supports this type of address?
Payment Protocol¶. To request payment using the payment protocol, you use an extended (but backwards-compatible) “bitcoin:” URI.For example: Warning: The payment protocol is considered to be deprecated and will be removed in a later version of Bitcoin Core. The protocol has multiple security design flaws and implementation flaws in some wallets. Simplified Payment Verification (SPV) – using Bitcoin without running a full network node. By default, upon receiving a new transaction a node must validate it: in particular, verify that none of the transaction's inputs have been previously spent. To carry out that check the node needs to access the blockchain. The specific process to pay using bitcoin is called the Bitcoin Payment Protocol and it is codified in a document called BIP70. A BIP is a Bitcoin Improvement Proposal and is one of the mechanisms used by the Bitcoin “core developers” to improve Bitcoin. There are all sorts of BIPS on lots of great topics but let’s not get diverted. Go to ... Protocol overview. In a normal Bitcoin payment, the process starts with the user either clicking a bitcoin URI or copy and pasting a textual address into their wallet app and manually specifying the amount. In a payment handled by the payment protocol, the process is initiated in one of two ways: The user clicks a Bitcoin URI that has a new “r” parameter, which contains a (http) URL that ... The Bitcoin protocol is specified by the behavior of the reference client, not by this page. In particular, while this page is quite complete in describing the network protocol, it does not attempt to list all of the rules for block or transaction validity. Type names used in this documentation are from the C99 standard.
In this video, Kevin Greene Introduces the bitcoin Payment Protocol, BIP70 and Explains How it Simplifies Bitcoin Payments for Merchants and Consumers. TumbleBit is a new anonymous payments protocol that is fully compatible with today’s Bitcoin protocol. TumbleBit allows parties to make payments through an untrusted Tumbler. No-one, not even ... How to tracking Bitcoin Transaction payment proof or how to check bitcoin transaction is trusted or lying. we can tracking bitcoin transaction using TX ID. Bitcoin Protocol Paper Playlist: http://www.youtube.com/watch?v=UieiMU-ImvI&list=PLQVvvaa0QuDcq2QME4pfeh0cE71mkb_qz&feature=share All Bitcoin Videos Playlist... SpaceX Crew Dragon Launch, Docking and Returns to Earth from ISS (International Space Station) Mar 8 - Duration: 1:11:47. Space News Pod Recommended for you