krishnapramod (OP)
Legendary
 Offline
Activity: 1470
Merit: 1078
|
 |
February 06, 2018, 01:03:14 AM
Last edit: February 06, 2018, 04:27:43 AM by krishnapramod |
|
Last year Coinbase had announced that they were planning to implement Segwit this year. According to their recent tweet, final testing phase of Segwit has begun and SegWit compatible Bitcoin sends/receives will be available for customers in the next few weeks. Our engineering team has begun the final testing phase of SegWit for Bitcoin on Coinbase.
SegWit compatible Bitcoin sends/receives will be available for customers in the next few weeks. https://twitter.com/coinbase/status/960656993122844673https://blog.coinbase.com/bitcoin-segwit-update-3ab0484e4526 |
|
|
|
|
OmegaStarScream
Staff
Legendary
Offline
Activity: 3486
Merit: 6150
|
|
February 06, 2018, 09:38:37 AM |
|
I'm not familiar with their platform, is the send/receive options the only thing they have? because If they have separated features for their exchange like withdrawing etc. then this may not help much.
|
|
|
|
|
Wipro
|
|
February 06, 2018, 05:21:29 PM |
|
This is great news for the people who holded funds on Coinbase wallet. I have some funds in bitcoin and ethereum in this wallet provider. If they implemented it I can share this wallet address to the people who need to pay me via Segwit wallet. As of now I did not find any e-mail from the Coinbase team. When they officially implement. They used to send a e-mail to all their consumers but did not anything as of now. |
|
|
|
|
|
CyberKuro
|
|
February 06, 2018, 05:59:30 PM |
|
I'm not familiar with their platform, is the send/receive options the only thing they have? because If they have separated features for their exchange like withdrawing etc. then this may not help much.
Why it may not help much? This is what we have been waiting since a long time. There are hundred of thousands or even millions of transactions going through exchanges everyday, if Coinbase customers can deposit-withdraw bitcoin using segwit address, it means a lot, we know the advantages of segwit. If most exchanges will apply segwit as well, there won't be a huge backlog on mempool, waiting to be processed one by one. That's why bitcoin price corrected after reach the peak, high fees. |
|
|
|
|
lite
Legendary
Offline
Activity: 1400
Merit: 1009
|
|
February 06, 2018, 06:44:35 PM |
|
...... As of now I did not find any e-mail from the Coinbase team. When they officially implement. They used to send a e-mail to all their consumers but did not anything as of now. They have not yet implemented segwit, we'll probably receive email when they're nearing or have updated to segwit. we are planning to implement SegWit in 2018. Finally! once they have updated to segwit, i'll move my 15 mBTC(without paying a lot on fees lol) that i had there for quite a while. |
|
|
|
|
TryNinja
Legendary
Offline
Activity: 2842
Merit: 7046
Crypto Swap Exchange
|
|
February 06, 2018, 09:17:03 PM |
|
Finally! once they have updated to segwit, i'll move my 15 mBTC(without paying a lot on fees lol) that i had there for quite a while.
Coinbase will still charge way more than they should. Don't forge that they were sending transactions with +100 sat/byte while blocks were accepting 5 sat/byte transactions. Do you know about GDAX? You can move your funds from Coinbase to GDAX for free and withdrawal from there. GDAX will pay all the fees (including the miner fee), so you will receive the 15mBTC without any charge. |
|
|
|
richardsNY
Legendary
Offline
Activity: 1232
Merit: 1091
|
This is exactly what the market needs. Coinbase is the main player of this market with its giant market share. If they start fully utilizing SegWit, it will give the users and other services the incentive they needed to work with SegWit as well. If on top of that Bitcoin Core is going to release its latest client where people can finally utilize SegWit through Core, it will boost the level of adoption even further -- the more SegWit is being utilized, the less network congestion there will be. SegWit has been activated for quite a while now, so it's about time services start to show some actual progress and utilize it to increase the actual level of usage.
|
|
|
|
|
Kemarit
Legendary
Offline
Activity: 3094
Merit: 1354
|
|
February 07, 2018, 02:36:56 PM |
|
This is exactly what the market needs. Coinbase is the main player of this market with its giant market share. If they start fully utilizing SegWit, it will give the users and other services the incentive they needed to work with SegWit as well. If on top of that Bitcoin Core is going to release its latest client where people can finally utilize SegWit through Core, it will boost the level of adoption even further -- the more SegWit is being utilized, the less network congestion there will be. SegWit has been activated for quite a while now, so it's about time services start to show some actual progress and utilize it to increase the actual level of usage.
Exactly, initially they said that its not their top priority though, but thousand of complaints and weeks later, they changed their tune and it looks like we just need to wait just a little longer to see it how it goes. They are one of the main player and adopting Segwit will really alleviate the network congestions as we all know exchanges are one reasons why most of the time the network is clogged because of the shear volumes they eat up as far as transactions. And if they adopt Segwit, their customer based will adjust as well, moving to legacy to Segwit which will help alleviate the mempool and at the same time, cost of transactions will be reduced on both ends. Win-win situations. |
|
|
|
mobnepal
Legendary
Offline
Activity: 1218
Merit: 1006
|
|
February 07, 2018, 04:03:46 PM |
|
Coinbase will still remain as centralized wallet even if they will implement segwit in their platform because basically you can't have full access to your bitcoin there.
I know electrum now have segwit wallet with bech32 addresses, will this be same with coinbase if they will upgrade to segwit?
|
|
|
|
|
|
solarion
|
|
February 07, 2018, 04:40:09 PM |
|
Coinbase will still remain as centralized wallet even if they will implement segwit in their platform because basically you can't have full access to your bitcoin there.
I know electrum now have segwit wallet with bech32 addresses, will this be same with coinbase if they will upgrade to segwit?
Electrum is the most of the people's option.but the question is about coinbase only bro. I do not know why you all people suggesting the other wallet when someone asking different query. Please share once you find the information about coinbase has been implemented about segwit. For your query, we do not know how the final test will be works. |
|
|
|
|
akbabb
Newbie
Offline
Activity: 30
Merit: 0
|
|
February 20, 2018, 01:53:23 AM |
|
It's about time! Should improve the whole network
|
|
|
|
|
Raimonn
Legendary
Offline
Activity: 1456
Merit: 1001
|
|
February 20, 2018, 09:38:19 PM |
|
Coinbase said on twitter that its engineering team has finished the test fase of Segwit, and they will start using segwit on the following days. Also today Bitfinex announced that they added support for segwit deposits and withdrawals.
|
|
|
|
|
|
carlfebz2
|
|
February 23, 2018, 06:24:03 PM |
|
Coinbase will still remain as centralized wallet even if they will implement segwit in their platform because basically you can't have full access to your bitcoin there.
I know electrum now have segwit wallet with bech32 addresses, will this be same with coinbase if they will upgrade to segwit?
Electrum is the most of the people's option.but the question is about coinbase only bro. I do not know why you all people suggesting the other wallet when someone asking different query. Please share once you find the information about coinbase has been implemented about segwit. For your query, we do not know how the final test will be works. Expect with those kind of responses which I do see rampantly into this forum on where people do suggest other thing even its not really being asked which is total irrelevant to the topic at all. For now Coinbase still on test phase about applying Segwit into their service which would really be a good move to fasten up even more each transactions with less cost. Even on exchanges they should really consider such changes. |
|
|
|
OmegaStarScream
Staff
Legendary
Offline
Activity: 3486
Merit: 6150
|
|
February 23, 2018, 06:35:33 PM |
|
They are officially supporting SegWit now (released a blog post one hour ago). It's currently functional for 25% of their customers, 100% by next week.
|
|
|
|
|
|
DeadCoin
Sr. Member
Offline
Activity: 1246
Merit: 261
★ Investor | Trader | Promoter
|
|
February 26, 2018, 09:13:45 PM |
|
They are officially supporting SegWit now (released a blog post one hour ago). It's currently functional for 25% of their customers, 100% by next week.
Good news to hear as a coinbase wallet user. I had to open up Electrum wallet for segwit address. How its going to be merged? Just upgrading would be enough or we would have an option to open up a segwit address as like we do have in electrum. Every wallet has its own way of featuring, so need to wait as its yet to be 100% functional. Segwit would seriously reduce the trasaction fees and fasten the trasaction speed. Its well featured in Electurm that we can adjust / set blocks and fees. The maximum fees charged is less than $1.20 |
|
|
|
|
|
Hannahanto
|
|
February 27, 2018, 08:26:31 PM |
|
https://cointelegraph.com/news/coinbase-and-bitfinex-integrate-bitcoin-scaling-upgrade-segwitCoinbase twitted that its engineering team has finished testing of SegWit for Bitcoin on Coinbase and it will be starting a phased launch to customers over the next few days ( Said on 20th Feb ) and are targeting a 100% launch to all customers by mid next week. Team has almost taken 2 to 3 months on upgrading it with Segwit. This would seriously reduct the trasaction fees. Almost 90% of fees charged now will be reduced. Thanks team.
|
|
|
|
|
|
AngelSky
|
|
March 01, 2018, 05:11:30 PM |
|
They are officially supporting SegWit now (released a blog post one hour ago). It's currently functional for 25% of their customers, 100% by next week.
Yup checked fees is around 10 cents per transaction and it has been confirmed with 20 minutes of time when I tried to transfer to LBC today. I found their official notice about Segwit enabling on Coinbase web wallet few days back. I have query bro. Will the wallet address we already have changed to segwit address? or just they give the enabling like Greenaddress wallet providing? Hope you confirm me. |
|
|
|
|
|
