Announcing a Return to our Roots: The All-New Bitcoin Magazine

Bitcoin Wallets Changing Fee Structures to Speed Transactions Through Network Delays


         Bitcoin Wallets Changing Fee Structures to Speed Transactions Through Network Delays

Due to the continued spam attack on the blockchain network that Bitcoin Magazine has previously reported on, multiple bitcoin wallets have implemented either increased fees or the ability for individuals to increase the fees paid for a given transaction. Based on the nature of the software, miners prioritize which transaction to process first based on the fees associated with it, among other factors. The standard bitcoin fee is 0.0001 BTC per kilobyte. However, with so many spam transactions occurring, the standard transaction fee is not sufficient to ensure quick confirmations.

BitGo announced what it is calling its surge pricing —named after Uber’s surge pricing—which stipulates that the fees will vary depending on how congested the network is. In times of low congestion, the fees will remain low; whereas, in times of high congestion, the fees will be boosted. The company’s goal is to see transactions verified in roughly 2 blocks.

Ledger, the hardware wallet, deployed its 1.3.12 version of the Chrome application, which includes dynamic fees. Based on the speed in which users want the transaction to be confirmed, the software will calculate how much in fees they should pay. By allowing users to decide, they can dictate whether speed is more important or an overall decreased cost.

BTCJam, a peer-to-peer lending platform, announced today that it would be waiving any late fees & late payment penalties for payments that come within 48 hours of the payment’s due date.


Ten Years Later, a Reflection on Bitcoin’s Genesis and Satoshi’s Timing

Rather than focusing simply on what the genesis block is, today is a day to reflect on what the genesis block represents.

Colin Harper

Op Ed: From Gray To Black and White: Traditional Regulations Come to Crypto

For the crypto industry, recent developments — at both the federal and international levels — signal that the time for plausible deniability or unregulated freedom is coming to an end and more traditional regulations are moving to the forefront.

Courtney Rogers Perrin and Joshua Lewis

Bitcoin Price Analysis: Blowing Through Support Levels on the Way to $3,000

Bitcoin continues to tumble lower and lower as it struggles to claim any footing in the market. It’s down almost 50% in three weeks and it’s showing very little sign of stopping. It’s currently clutching onto the $3,500 values but it doesn’t look like it can hold on much longer.

Bitcoin Schmitcoin

Op Ed: SEC’s Latest Declaration Creates Legal Minefield for Digital Assets

This broad, authoritative declaration is not unexpected, as, to date, the SEC has stated that all digital assets — regardless of whether they function as alt coins or utility tokens — are securities at least initially and, thus, subject to its jurisdiction.

Huhnsik Chung and Nicholas Secara