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Author Topic: Bitcoin Transaction Fee Solution  (Read 617 times)
mahimonliner
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December 10, 2017, 12:15:28 PM
 #21

The problem is bitcoin network count fees as bitcoin value.
For example if you wants to send 1BTC it takes the fees for the bitcoin value not as the dollar value. Suppose it took 0.01btc as a fees for 1BTC transactions which is above 100$ in current bitcoin value.
So i think there is no solutions for the bitcoin fees unless the network wants to count transactions as dollar value.

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December 10, 2017, 12:23:49 PM
 #22

There is none, people must be willing to pay a high transaction fee for them to get noticed by miners, or else their transaction will be stuck in transit. Bitcoin will only be used for very large transactions, or people will have to switch to another crypto for payments and such. Forks for bitcoin also help this, such as BCH, or the newer BCG.
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December 10, 2017, 12:37:25 PM
 #23

Quote
The addresses are compatible in terms of you can send transactions to/from either. The problem is that other wallets have yet to catch up so you can only send to them from another Electrum wallet.

What has happened here is that the implementation other wallets use encapsulates Segwit and was only ever meant as a transition step. Electrum has gone straight to using native Segwit, everyone else will catch up. Core has promised it in the next major release.

Thank you for your reply. I was quite sure that there was a hidden option to create a SegWit address on Bitcoin Core client using console. I have already seen transactions to SegWit native addresses but most of them are not displayed on block explorers due to "Can't decode error". In January I should receive my Trezor T which in the newest update started supporting this type of address. Not many people use them despite that they are generated also in Electrum. Do you happen to know why is that?
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December 10, 2017, 01:01:22 PM
 #24

Thank you for your reply. I was quite sure that there was a hidden option to create a SegWit address on Bitcoin Core client using console.

Yes, you can create the old style Segwit addresses but not send a Segwit transaction. So it is only useful if you plan on storing the BTC and waiting for the next version before you can spend it (I might be wrong on that bit but that is how I understand it).
The news base32/bech32 addresses Core doesn't recognise at all so you cannot create them or send a transaction to them. You can receive from them because it's just an input.

I have already seen transactions to SegWit native addresses but most of them are not displayed on block explorers due to "Can't decode error".

Simply because the block explorers are using a Core node.

In January I should receive my Trezor T which in the newest update started supporting this type of address. Not many people use them despite that they are generated also in Electrum. Do you happen to know why is that?

Just because so many people cannot currently send to them. I'm using them but it means I need to keep two wallets. Once Trezor, Core and everyone else catches up, I imagine many more people will use them.

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