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Author Topic: Loaded moves 40 000 Bitcoins to a SegWit Address  (Read 103 times)
iluvbitcoins
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January 28, 2018, 02:12:18 AM
 #1

The title is self explanatory.
I haven't seen a thread about this yet, so here it is.

https://blockchain.info/tx/92785a57f6e9e9eb9d37a00e6e8be7f888376f65fa2b8f868db261cbf6cca7b0

https://twitter.com/khannib/status/957186970672947200

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January 28, 2018, 02:14:22 AM
 #2

This should be enough evidence in and of itself to get people to go over and get a segwit addy, if these types of fees are possible with it then that should convince people that this is the answer to the scaling problem that we have been longing to try to fix for far too long.

Why don't people simply see the light and use this? Is it because the miners are going to lose out on all of the sweet sweet overprices fees that they've been reaping in for this long while the network and the community has been suffering? I wouldn't be surprised if this all comes down to the bottom line.

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January 28, 2018, 02:17:54 AM
 #3

Move along, folks. Nothing to see here. Just moving $450,000,000 on the blockchain for a total fee of $1. :O



Holy crap, this is great news for Bitcoin! SegWit adoption is real, folks!

I will say that I really wish that Blockchain.info will implement SegWit. With a whole new rise in SW adoption, their blockchain explorer is starting to display more "decoding" errors.



And if anyone is interesting in joining the SegWit movement, go and get yourself a SW-enabled wallet. Don't know where to start? Here you go: https://greenaddress.it/

iluvbitcoins
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January 28, 2018, 02:46:20 AM
 #4

This should be enough evidence in and of itself to get people to go over and get a segwit addy, if these types of fees are possible with it then that should convince people that this is the answer to the scaling problem that we have been longing to try to fix for far too long.

Why don't people simply see the light and use this? Is it because the miners are going to lose out on all of the sweet sweet overprices fees that they've been reaping in for this long while the network and the community has been suffering? I wouldn't be surprised if this all comes down to the bottom line.

Must be completely and thoroughly inspected before going mainstream, one bug could cause thousands of BTC being lost.
It's obviously generally safe, but you wouldn't want new headlines going around, the bitcoin bubble burst, bitcoin hacked, bitcoin destroyed etc.

Quote
And if anyone is interesting in joining the SegWit movement, go and get yourself a SW-enabled wallet. Don't know where to start? Here you go: https://greenaddress.it/

I remember GreenAddress used to provide transactions with 1 instant confirmation previously.
So they're keeping their trend.

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January 28, 2018, 02:52:17 AM
 #5

I guess this is a very good news as far as the future price of fees is concernet. But.... who is Loaded?
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January 28, 2018, 04:47:40 AM
 #6

This should be enough evidence in and of itself to get people to go over and get a segwit addy, if these types of fees are possible with it then that should convince people that this is the answer to the scaling problem that we have been longing to try to fix for far too long.

Why don't people simply see the light and use this? Is it because the miners are going to lose out on all of the sweet sweet overprices fees that they've been reaping in for this long while the network and the community has been suffering? I wouldn't be surprised if this all comes down to the bottom line.

because of two main things:
- most wallets have not yet added support for SegWit, specially most used wallets like blockchain.info, Coinbase, and it is not default in core either.
- most places (such as exchanges for example) don't recognize Bech32 addresses if you want to withdraw to them. so you either have to continue sticking to your old addresses or switch to P2SH-P2WSH (starting with 3) which is complicated in some cases like when you use Electrum

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January 28, 2018, 12:42:34 PM
 #7

I guess this is a very good news as far as the future price of fees is concernet. But.... who is Loaded?

https://bitcointalk.org/index.php?action=profile;u=73652

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BelieveInBTC
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January 28, 2018, 12:49:37 PM
 #8

SegWit is becoming more and more popular among individual users. It is still not a native SegWit address but unfortunately, most of the services haven't introduced support for bech32 addresses yet. Where are the people who were shouting that Bitcoin transaction fees were too high? Many people were overpaying for their transactions lately. I can't wait to see wider SegWit adoption after Bitcoin Core releases their updated software with bech32 address generated by default (although as far as I know, it's been already merged so anyone can compile their code and test it).

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January 28, 2018, 07:01:36 PM
 #9

Can you send from a Bech32 address to an old classic address (like exchanges still use)?
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January 28, 2018, 08:12:14 PM
 #10

Can you send from a Bech32 address to an old classic address (like exchanges still use)?
Yes, no problems with sending from Bech32 addresses, the receiving part is still an issue though.
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