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Riecoin - Cryptocurrency That Uses Prime Constellations as Proof Of Work
Riecoin is a decentralized (p2p), open source digital currency. It allows to transfer money to anywhere in the world with only minimum transaction fees. It is a fork of the Bitcoin project. The name "Riecoin" pays homage to Bernhard Riemann, whose work generated new ways of studying the distribution of prime numbers and is referenced in the math of Riecoin. It also pays homage to Bitcoin, the cryptocurrency that started them all.
Coinbase offchain payments are broken and there is no alternative
Coinbase offers offchain, zero fee payments between Coinbase users: http://blog.coinbase.com/post/57483182558/you-can-now-send-micro-transactions-with-zero-fees Unfortunately, this feature is broken. It's not working since months. When you try to send to somebody a small amount (0.00001 BTC) you will get and error like: "minimum Bitcoin transaction is 0.0000546 BTC". If you increase the amount to 0.0000546 BTC it will ask you for a 0.0002 BTC fee too. (The funny thing is it's working for a few accounts, but it's broken for the new users and sometimes for the old users too.) Do you know any alternative to Coinbase where sending offchain micropayments is possible? New wallets poping up like crazy with all the VC funds and none of them offer offchain micropayments.
I've never used bitcoin, but I want to pay for a transaction and it's the only payment method. What's the minimum I need to do?
For reference I'm in Canada. I want to make a bitcoin transaction (usenet) for the value of $10 USD - honestly not interested in tracking values, markets etc. I just need to get enough bitcoin to make this payment. If it's super easy I might continue to use it for all my usenet/vpn transactions from a privacy standpoint. From this page it seems there's two exchange options in Canada - Shakepay and Canadian Bitcoins. Unless I'm reading the landing page wrong, Canadian has a $50 minimum which is more than I need. Do I still need a wallet? I usually do all my online shopping on my laptop (hate doing it on my phone) so a Windows client would probably be preferable. That being said I have an android phone so it might be convenient to pick one that supports both? Really I have no idea where to start?
Pick a wallet
Buy bitcoins from an exchange
Go to the payment link on the website I want to buy from?
I wanted to buy a product so sent 20112 Doge https://chain.so/address/DOGE/D72fsCzEFQFwLiMN48zqEPrgPyoDa6JjV7 to them to be converted to BTC but the webpage is stating The 0.8.2 Bitcoin has a limit that prevents sending (or relaying) transactions that have outputs smaller than 0.00005430 BTC. Be sure to send enough Dogecoins to respect the minimum transaction amount. ERROR: We received Dogecoins but once converted it don't respect the minimim Bitcoin 0.8.2 transaction amount. Send more Dogecoins to respect the minimum Bitcoin transaction or contact us to get a refund. The output is way more than the minimum limit. What to do in this case? Edit - The server has a problem I guess I sent 2000 more Doge and still the same case. Nobody should use their services for now
Please educate newbies that there will be no minimum transaction fee for Bitcoin Cash transactions!
This is terrible news for Litecoin (which I'm invested in and mine), and great news for Bitcoin Cash (which I'm invested in and mine): Charlie Lee is proposing that miners flag the minimum transaction fee in the block headers. People who panic because they think this will lower LTC transaction fees below Bitcoin Cash levels are not getting what this actually means (and can follow my comments on the /litecoin channel on my thoughts on the implications). What this actually means (and what I have left out in my comments in /litecoin) is that any attempt to change the transaction fee scale from Litecoin per byte to kbyte will FAIL on Litecoin. When this will be implemented, Bitcoin Cash will have another advantage over Litecoin. We will have no minimum fee limit for our transactions. If we decide to change from 1sat/byte to 1sat/kbyte, we can just do that. Fees are very low on Bitcoin Cash and they will stay very low on Bitcoin Cash. Bitcoin Core has fee problems, Litecoin has fee problems, Ethereum has fee problems. We don't! edit: one little correction: the core wallet is counting LTC/kb already, so the example should be changing the scale from kb to mb. I was referring to the proposal to change from sat/byte to sat/kbyte. Some additional info to the defenders of a minimum transaction fee to avoid spam attacks: 1) Bitcoin Cash already experienced a spamming attack on the 16th of August 2017 and it wasn't a success. Big blocks are an effective measure to counter spam attacks. The only network that is suffering from Spam attacks seems to be Bitcoin Core. 2)The smallest amount on BCH and LTC is 0.00000001. Why skip 3 digits like Charlie did and set the minimum fee to 0.00001? If you are worried about 0-fee transactions, set the minimum to 0.00000001 and there you go. But don't give any entity the power to dictate and raise that limit.
05-24 05:14 - '*transaction fees. Try BCH. / In related news, I walked out of a bar after they said $15 minimum on cards (at $7 / beer), supposedly due to Visa transaction fees. / Either I need to start carrying cash again, or m...' by /u/SolarFlareWebDesign removed from /r/Bitcoin within 125-135min
High transaction fees limit the minimum possible investment into Bitcoin.
A lot of people hearing about Bitcoin for the first time, even now, don't realize that Bitcoins are divisible and think that they must buy a whole Bitcoin to have any sort of investment. I used to get a lot of people to dip their toes in the water by offering to sell them $5, $10, or $20 worth of Bitcoin. With average tx fees now above $5, it doesn't make sense for me to pay a 25% fee to sell someone $20 worth of Bitcoin, and it doesn't make much sense for someone to buy $20 worth of Bitcoin when it will cost them at least 25% in fees to do anything with it. The more demand for cryptocurrency can be padded by allowing virtually anyone in the world to purchase any amount of it, the more resilient the currency will be to groupthink market behavior and to manipulation by large players. As most of the world is now priced out of using Bitcoin, it's essentially being turned into a rich man's speculative toy, rather than something that can appeal to almost anyone. This will result in an inherently unstable system built on shaky foundations. The clock is ticking.
Wouldn't setting a minimum transaction amount prevent the Bitcoin crisis?
From what I am reading, there are two issues: - Bitcoin miners don't want to raise transaction fees, for their own probably legitimate reasons - increasing the block size does not truly solve the scaling issue, it only buys time The other idea is that Bitcoin really needs to be like the backer or "gold standard" of other crypto currencies. However, this hasn't been done by anyone. In order to keep things as is, why not set a minimum transaction amount, like 1 btc? It would bring down the amount of transactions significantly. After all, gold isn't the most easily transferable asset either. That would also create the opportunity/incentive for other startups to create suitable cryptocurrencies for small transactions that are backed by Bitcoin.
"A new crypto-oriented advertising platform is using blockchain to enable low transaction fees and no minimum budgets for campaigns #CT_sponsored https://t.co/8L0nPx0RWv" $btc $ltc $neo $eth #btc #bitcoin #crypto #ethereum
The minimum transaction fee is dynamic and can change over time. Thus, the best way to calculate Bitcoin transaction fees is by doing fee estimation using information provided about the Bitcoin network. Bitcoin fees are usually shown as Satoshis/Byte or Satoshis/kB. Here’s how you can estimate your optimal Bitcoin transaction fees: Each transaction input requires at least 41 bytes for the previous transaction reference and other headers and each transaction output requires an additional 9 bytes of headers. Finally every transaction has a header at least 10 bytes long. Added up we get 166 bytes for the minimum-sized Bitcoin transaction. For 1MB (1,000,000 byte) blocks this implies a theoretical maximum rate of 10tx/s. The minimum amount of money you can deposit on Bitstamp using Wire transfer is $50. You will also need to pay $7.50 for the transaction fee. But when using the Euro, the amount of fees charged drastically reduces. Thus, using the Euro is a great and cheap way of buying Bitcoin and other cryptos on Bitstamp. International wire transfers can be ... The minimum amount of bitcoin you can send in a transaction is 546 Satoshis, which is equivalent to .00000546 BTC. The transaction fee is given to the Bitcoin miner, as explained in the block chain section, and so it is ultimately up to each miner to choose the minimum transaction fee they will accept. There is also a concept of so-called “ high-priority transactions ” which spend satoshis that have not moved for a long time.
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