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      "permlink": "steemitboard-notify-tmaniac-20190608t203847000z",
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      "body": "Congratulations @tmaniac! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/https://steemitboard.com/@tmaniac/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@tmaniac) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=tmaniac)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "title": "Deep dive into Bitcoin fees",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
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      "author": "tmaniac",
      "permlink": "5zeitv-20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "Deep dive into Bitcoin fees",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
      "json_metadata": "{\"tags\":[\"bitcoin\",\"blockchain\",\"tutorial\",\"mining\",\"fees\"],\"image\":[\"https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png\",\"https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png\",\"https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png\",\"https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png\",\"https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png\",\"https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png\",\"https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png\"],\"links\":[\"http://telegra.ph/Introduction-to-blockchain-11-13\",\"https://en.bitcoin.it/wiki/Hashcash\",\"http://www.bitcoinblockhalf.com\",\"https://bitcoinfees.earn.com\",\"https://bitcointalk.org/index.php?topic=1764396.0\",\"https://lightning.network/\",\"https://t.me/hippo_money\",\"https://bitinfocharts.com/\",\"https://blockchain.info/\",\"https://bitcoinfees.earn.com/\",\"https://jochen-hoenicke.de/queue/#30d\",\"http://bitcoinfees.com/\",\"https://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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      "body": "Congratulations @tmaniac! You have completed some achievement on Steemit and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/voted.png)](http://steemitboard.com/@tmaniac) Award for the number of upvotes received\n\nClick on any badge to view your own Board of Honor on SteemitBoard.\nFor more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)\n\nIf you no longer want to receive notifications, reply to this comment with the word `STOP`\n\n> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!",
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      "permlink": "5zeitv-20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "20$ in fees or all you wanted to know about fees and mining difficulty",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
      "json_metadata": "{\"tags\":[\"bitcoin\",\"blockchain\",\"tutorial\",\"mining\",\"fees\"],\"image\":[\"https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png\",\"https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png\",\"https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png\",\"https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png\",\"https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png\",\"https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png\",\"https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png\"],\"links\":[\"http://telegra.ph/Introduction-to-blockchain-11-13\",\"https://en.bitcoin.it/wiki/Hashcash\",\"http://www.bitcoinblockhalf.com\",\"https://bitcoinfees.earn.com\",\"https://bitcointalk.org/index.php?topic=1764396.0\",\"https://lightning.network/\",\"https://t.me/hippo_money\",\"https://bitinfocharts.com/\",\"https://blockchain.info/\",\"https://bitcoinfees.earn.com/\",\"https://jochen-hoenicke.de/queue/#30d\",\"http://bitcoinfees.com/\",\"https://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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{
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  "timestamp": "2017-11-16T10:51:45",
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      "parent_author": "",
      "parent_permlink": "tutorial",
      "author": "tmaniac",
      "permlink": "20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "20$ in fees or all you wanted to know about fees and mining difficulty",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
      "json_metadata": "{\"tags\":[\"bitcoin\",\"blockchain\",\"tutorial\",\"mining\",\"fees\"],\"image\":[\"https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png\",\"https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png\",\"https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png\",\"https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png\",\"https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png\",\"https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png\",\"https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png\"],\"links\":[\"http://telegra.ph/Introduction-to-blockchain-11-13\",\"https://en.bitcoin.it/wiki/Hashcash\",\"http://www.bitcoinblockhalf.com\",\"https://bitcoinfees.earn.com\",\"https://bitcointalk.org/index.php?topic=1764396.0\",\"https://lightning.network/\",\"https://t.me/hippo_money\",\"https://bitinfocharts.com/\",\"https://blockchain.info/\",\"https://bitcoinfees.earn.com/\",\"https://jochen-hoenicke.de/queue/#30d\",\"http://bitcoinfees.com/\",\"https://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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  "trx_id": "dfe9c7d98faaf83f62bcff9ae9630bbd5d89957e",
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    {
      "parent_author": "",
      "parent_permlink": "tutorial",
      "author": "tmaniac",
      "permlink": "20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "20$ in fees or all you wanted to know about fees and mining difficulty",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
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      "parent_author": "",
      "parent_permlink": "tutorial",
      "author": "tmaniac",
      "permlink": "20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "20$ in fees or all you wanted to know about fees and mining difficulty",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
      "json_metadata": "{\"tags\":[\"bitcoin\",\"blockchain\",\"tutorial\",\"mining\",\"fees\"],\"image\":[\"https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png\",\"https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png\",\"https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png\",\"https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png\",\"https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png\",\"https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png\",\"https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png\"],\"links\":[\"http://telegra.ph/Introduction-to-blockchain-11-13\",\"https://en.bitcoin.it/wiki/Hashcash\",\"http://www.bitcoinblockhalf.com\",\"https://bitcoinfees.earn.com\",\"https://bitcointalk.org/index.php?topic=1764396.0\",\"https://lightning.network/\",\"https://t.me/hippo_money\",\"https://bitinfocharts.com/\",\"https://blockchain.info/\",\"https://bitcoinfees.earn.com/\",\"https://jochen-hoenicke.de/queue/#30d\",\"http://bitcoinfees.com/\",\"https://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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{
  "trx_id": "2ec958a54d0a6f0aadd7975531cc53f7574bd873",
  "block": 17270314,
  "trx_in_block": 25,
  "op_in_trx": 0,
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  "timestamp": "2017-11-16T10:49:12",
  "op": [
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    {
      "parent_author": "",
      "parent_permlink": "tutorial",
      "author": "tmaniac",
      "permlink": "20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "20$ in fees or all you wanted to know about fees and mining difficulty",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
      "json_metadata": "{\"tags\":[\"tutorial\",\"blockchain\",\"bitcoin\",\"mining\",\"fees\"],\"image\":[\"https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png\",\"https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png\",\"https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png\",\"https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png\",\"https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png\",\"https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png\",\"https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png\"],\"links\":[\"http://telegra.ph/Introduction-to-blockchain-11-13\",\"https://en.bitcoin.it/wiki/Hashcash\",\"http://www.bitcoinblockhalf.com\",\"https://bitcoinfees.earn.com\",\"https://bitcointalk.org/index.php?topic=1764396.0\",\"https://lightning.network/\",\"https://t.me/hippo_money\",\"https://bitinfocharts.com/\",\"https://blockchain.info/\",\"https://bitcoinfees.earn.com/\",\"https://jochen-hoenicke.de/queue/#30d\",\"http://bitcoinfees.com/\",\"https://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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{
  "trx_id": "88f09a00cf3efb3924b67535330567f13889dae1",
  "block": 17270235,
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  "timestamp": "2017-11-16T10:45:15",
  "op": [
    "comment",
    {
      "parent_author": "",
      "parent_permlink": "tutorial",
      "author": "tmaniac",
      "permlink": "20usd-in-fees-or-all-you-wanted-to-know-about-fees-and-mining-difficulty",
      "title": "20$ in fees or All you wanted to know about fees and mining difficulty",
      "body": ">*If you're new to Bitcoin, cryptocurrencies, and blockchain you can check out my \"[Introduction to crypto world](http://telegra.ph/Introduction-to-blockchain-11-13)\"*\n\nYesterday my colleague asked to send him 40$ in Bitcoin equivalent. I had some coins in one of exchange wallets on my phone and I sent them to him. Right after that I went to blockchain.info to check status and this is what I saw:\n\n![Mining](https://steemitimages.com/DQmSymB7E3N9JtTMuAjGUYqfvQwgJJFYdSkn9GCRM3fZNrB/image.png)\n\nI was unpleasantly surprised to see that I just paid almost half of transaction in fees. FYI, exchange wallets don't have the option to choose fee and take an average fee in the network.\nFor all zealous bitcoin fans - this is more than I've paid in fees for Ethereum transaction for the last year (and there was at least 50). And still, I had to wait for 30 minutes to get first confirmation. \n\nI understand that Bitcoin network now suffers from spam attack but there should be some mechanics to prevent those attacks. I decided to take look into how Bitcoin ecosystem reacts to such attacks and how fees are calculated.\n\nI found this nice infographic about mining difficulty that killed the purpose of writing long explanation:\n\n![Mining](https://steemitimages.com/DQmXRDXigfc8mrdNbmKWt5hnQjDxM8bSo42rc3GuzwK1nZ3/image.png)\n\n### Why mining is difficult\n\nIn simple terms: the hash of a block must start with a certain number of zeros. The probability of calculating a hash that starts with many zeros is very low, therefore many attempts must be made. In order to generate a new hash each round, a nonce is incremented. This is based on the [hashcash function](https://en.bitcoin.it/wiki/Hashcash), which requires dedicated article to explain.\n\n### The Bitcoin Network Difficulty Metric\n\nThe Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes.\n\nAs more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down. Any blocks released by malicious miners that do not meet the required difficulty target will simply be rejected by everyone on the network and thus will be worthless.\n\n### The Block Reward\n\nWhen a block is discovered, the miner gets a certain number of bitcoins, which is agreed-upon by everyone in the network. Currently, this number is 12.5 bitcoins; this value will halve every 210,000 blocks (~4 years). You can check out next halving date here - http://www.bitcoinblockhalf.com.\n\nAdditionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. Today fees are an important part of miner income and it will only be increasing.\n\n### Fees\n\nRecently Bitcoin broke his highs not only in price but also in fees. Comparing with Ethereum (and any other coin), it's huge:\n\n![](https://steemitimages.com/DQmWuzqwbuQPD6xCkKWnFEknBufR1UrrdKDoSUJcjZG8nTj/image.png)\n\nIf you think that reason for fees is that Bitcoin handles more transaction - it's not true:\n\n![](https://steemitimages.com/DQmTLoNchZ1rcEh9nDG4WhfVko2LE2gkZP7x9GUhgAa1kPS/image.png)\n\nAlso note that Bitcoin Cash, which claims that they have much lower fees and scalability already has bigger fees than Ethereum but much, much, much lower transaction rate.\n\nOnly miners win from such high fees, but only in short term. Recently the value of transaction fees paid to miners has reached an all-time high of $2.3 million. That is ridiculously many:\n\n![](https://steemitimages.com/DQmbfmLDF2wcwvhV47usrtD4Abi7kxP2A2oTpw9sMWYoB6z/image.png)\n\nRegular users can't anymore use bitcoin for a small transaction (I'm not even talking about microtransactions) because they'll have to either pay a huge percentage from their transaction either wait for at least few hours. I personally know that many people now use Ethereum as their main transfer coin.\n\n### How fees are calculated\n\nIf you receive a payment of 1.5 BTC and another of 2 BTC, you'll have 2 new amounts in your wallet, of 1.5 BTC and 2 BTC. They don't become a single 3.5 BTC coin. Over time you'll build up a collection of differently sized amounts in your wallet, and the client needs to decide which ones make the best fit for the amount you're trying to spend.\n\nThese amounts are known as the \"inputs\" of your new transaction, and the amounts you are sending (including any change that gets sent back to your own wallet) are known as the \"outputs\".\n\nIf any of the outputs, including change of your transaction, are less than 0.01 BTC, then a fee of 0.0001 BTC is required. The algorithm is careful to avoid selecting coins that result in a change amount of less than 0.01 BTC if at all possible. For example, if you're paying 0.35 BTC and you have in wallet 0.3505 BTC and 0.4 BTC - the algorithm most likely choose the second one. This is one of the spam protection mechanics.\n_________\n\nFees and confirmation time depends on transaction size and Fee per byte value you or your software will decide. \n\nFee per byte depends mainly on how many transactions are already in mempool and how long you can wait till confirmation. If you'll go to https://bitcoinfees.earn.com, you'll see that fastest transaction fee is currently 540 satoshis/byte which will be most likely included in next block.\n\n![](https://steemitimages.com/DQmRJu8wCTeEbLLBbE3kxLp3nBFfJB8pF3ymjJUbdydPaRJ/image.png)\n\nFor example, you want to make a transaction with 511 satoshi/byte price that weight 554 bytes. To calculate fees:\n\n```554 ( size) * 511 (satoshi/byte) / 100 000 000 (satoshis in bitcoin) = 0.00283094```\n\nWhich is exactly $20 I paid yesterday\n\n### Solving scalability issue\n\nOf course, Bitcoin developers and whole community agree that it's not ok to have such high fees. Also, more and more people are getting in Bitcoin, so price, as well as the size of mempool, will increase.\n\nOne way to scale is to increase block size from 1mb to 2-4mb, but it's a temporary solution and BCash has already gone this way.\nBlock size can be set to unlimited size but this is a move to centralization as the bigger block size, fewer people can run bitcoin node.\n\nAnother way is to clear space for more transactions by moving some heavy protocol stuff out from the block - it's called SegWit and it already works in Bitcoin. Problem is, most clients still don't support SegWit and most transactions aren't using it:\n![](https://steemitimages.com/DQmTuCbBYeeuVtfM1evbvBhCwLQACLi76NBYVjUUATgVxdz/image.png)\n\nThe most promising way is off chain transactions. Lightning Network is the most popular implementation. It works by moving transactions to the side chain while the funds are linked to bitcoin funds. I want to write a whole article about off chain transactions, side chains, and state channels. For now, you can read more here: https://bitcointalk.org/index.php?topic=1764396.0 and here https://lightning.network/\n`\nP.S. You can send zero fees transaction and wait for a long time to have it confirmed (often more than 24 hours). If mempool will clear your transaction will go through. If not you'll get back your BTC in a few days.\n\n>If you liked an article you can subscribe to my telegram channel where I publish best articles, news, and videos about cryptocurrencies\nhttps://t.me/hippo_money\n\n> Sources:\nhttps://bitinfocharts.com/\nhttps://blockchain.info/\nhttps://bitcoinfees.earn.com/\nhttps://jochen-hoenicke.de/queue/#30d\nhttp://bitcoinfees.com/\nhttps://www.bitcoinmining.com/what-is-bitcoin-mining-difficulty/",
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      "author": "darvi",
      "permlink": "re-tmaniac-get-free-btc-with-byteball-20170808t162501024z",
      "title": "",
      "body": "When can I claim those byteballs and how can I do it?",
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      "author": "tmaniac",
      "permlink": "give-me-my-bitcoin-cash-bch-guide",
      "title": "Give me my Bitcoin Cash (BCH) - Guide",
      "body": "@@ -1859,23 +1859,21 @@\n s.%0A%0A\n+**\n Advice\n-: here - \n+**: *\n http\n@@ -1928,16 +1928,21 @@\n arkets -\n+ here\n  you can\n@@ -1979,16 +1979,21 @@\n to sell \n+your \n BCH. But\n@@ -2084,16 +2084,17 @@\n isabled.\n+*\n %0A%0A*Thank\n",
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      "permlink": "give-me-my-bitcoin-cash-bch-guide",
      "title": "Give me my Bitcoin Cash (BCH) - Guide",
      "body": "@@ -1855,16 +1855,239 @@\n users.%0A%0A\n+Advice: here - https://coinmarketcap.com/currencies/bitcoin-cash/#markets - you can see where is more profitable to sell BCH. But the most interesting price is on exchanges where withdraws and deposits are still disabled.%0A%0A\n *Thanks \n",
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      "parent_permlink": "give-me-my-bitcoin-cash-bch-guide",
      "author": "commentor",
      "permlink": "re-tmaniac-give-me-my-bitcoin-cash-bch-guide-20170808t045955210z",
      "title": "",
      "body": "Hey, I agree transactions are slower. I haven't decided what i'm going to do just yet. Nice post.",
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      "permlink": "give-me-my-bitcoin-cash-bch-guide",
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      "body": "@@ -1327,16 +1327,18 @@\n .%0A%3C/br%3E%0A\n+**\n Blockcha\n@@ -1441,16 +1441,18 @@\n port BCH\n+**\n %0A%3C/br%3E%0A*\n",
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      "permlink": "give-me-my-bitcoin-cash-bch-guide",
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      "body": "@@ -475,9 +475,8 @@\n h.%0A%0A\n-%5B\n http\n@@ -542,9 +542,8 @@\n .jpg\n-%5D\n %0A%0ANo\n",
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      "body": "Nice..i love Bitcoin\n\nPlz Follow Me Frd..!",
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      "permlink": "re-tmaniac-give-me-my-bitcoin-cash-bch-guide-20170808t045428491z",
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      "body": "Hii bro i found a new way to get unlimited. upvote (upvoteforupvote)\nhttps://steemfollower.com/?r=1407 go to this link. website is called steemfollower and login with your steemit ID and POSTING KEY\nFor clear details watch this 2min video\nhttps://youtu.be/YwP7OJCp3qQ  this website evn has a referral commission",
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      "title": "Give me my Bitcoin Cash (BCH) - Guide",
      "body": "**If you're still holding Bitcoin Cash it may be the time to sell most of it.**\n\nWhy sell? Very slow transactions, many vulnerabilities, low credibility and many minor problems. And now is a nice market opportunity.\n\nMost of the problems, likely, will be solved in the period of the next months. If Bitcoin Cash will gain more miners support and will be added to more exchanges - price will go up. But before that, at least few long moths with losing interest in Bitcoin Cash.\n\nNow - how to get your BCH from different exchanges and wallets.\n\n**Wallets:**\n- Electrum - https://electrum.org/bcc2.txt (*Be careful, some people say they lost BCH using the method - better to wait for a more reliable method or look for an alternative*) https://www.youtube.com/watch?v=i7--pmPa11E\n</br>\n- Ledger Nano S - https://ledger.groovehq.com/knowledge_base/topics/select-bitcoin-cash-blockchain-main-or-split?from_search=true\nhttps://www.youtube.com/watch?v=VyFFCflMI6g\n</br>\n- Trezor - https://blog.trezor.io/claim-bcash-bitcoin-cash-bch-bcc-trezor-wallet-f0a810d5864a\nhttps://www.youtube.com/watch?v=GWygfLVOq3M\n</br>\n- Bitcoin Core - https://bitcointalk.org/index.php?topic=2059111.0\n- Airbitz, Coinomi, Freewallet, Jaxx и XAPO automatically added BCH to your account.\n</br>\nBlockchain.info, BitPay/ Copay, Breadwallet, Coinbase, Exodus, Green Address и Samourai Wallet won't support BCH\n</br>\n**Exchanges**:\n- Coinbase - will give BCH only after 1 Jan of the next year, so the only choice it to wait.\n- Poloniex - will distribute BCH after 8/14.\n- Bittrex - gave BCH on the first day of a fork. Opened up withdraws a few days later.\n- Bitfinex - same as Bittrex\n- Kraken - gave BCH asap but enabled withdrawals and deposits only in a week.\n\nMost of other exchanges gave or will give BCH to users.\n\n*Thanks for reading, please leave your feedback or ask any questions in comments ;-)*",
      "json_metadata": "{\"tags\":[\"bitcoin\",\"cash\",\"bch\",\"guide\",\"cryptocurrencies\"],\"image\":[\"https://img.youtube.com/vi/i7--pmPa11E/0.jpg\",\"https://img.youtube.com/vi/VyFFCflMI6g/0.jpg\",\"https://img.youtube.com/vi/GWygfLVOq3M/0.jpg\"],\"links\":[\"https://electrum.org/bcc2.txt\",\"https://www.youtube.com/watch?v=i7--pmPa11E\",\"https://ledger.groovehq.com/knowledge_base/topics/select-bitcoin-cash-blockchain-main-or-split?from_search=true\",\"https://www.youtube.com/watch?v=VyFFCflMI6g\",\"https://blog.trezor.io/claim-bcash-bitcoin-cash-bch-bcc-trezor-wallet-f0a810d5864a\",\"https://www.youtube.com/watch?v=GWygfLVOq3M\",\"https://bitcointalk.org/index.php?topic=2059111.0\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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  "op": [
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      "comment_author": "pbgreenpoint",
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  "timestamp": "2017-07-11T20:36:42",
  "op": [
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      "parent_author": "tmaniac",
      "parent_permlink": "get-free-btc-with-byteball",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-tmaniac-20170711t203644000z",
      "title": "",
      "body": "Congratulations @tmaniac! You have completed some achievement on Steemit and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstcomment.png)](http://steemitboard.com/@tmaniac) You made your First Comment\n\nClick on any badge to view your own Board of Honor on SteemitBoard.\nFor more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)\n\nIf you no longer want to receive notifications, reply to this comment with the word `STOP`\n\n> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!",
      "json_metadata": "{\"image\":[\"https://steemitboard.com/img/notifications.png\"]}"
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  "op": [
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      "parent_author": "warrenvee",
      "parent_permlink": "re-tmaniac-get-free-btc-with-byteball-20170710t090219039z",
      "author": "tmaniac",
      "permlink": "re-warrenvee-re-tmaniac-get-free-btc-with-byteball-20170711t182511136z",
      "title": "",
      "body": "I've received in about 5 hours after distribution.\nIf you haven't, ask help in Byteball's Slack)",
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