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    SegWit daily monitor day 3 on /r/Bitcoin ☶ cryptocurrencies reddit.com
    clacke avatar via clacke 8 months ago | cached | 6 comments

Latest update on what exchanges and what BTC clients for various platforms support SegWit and multi-output (batch) payments

Original title:

Day 3: I will repost this guide daily until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. ARE YOU PART OF THE SOLUTION? News: Unconfirmed TX’s @ 274K, more exchanges adding SegWit, Core prioritizes SegWit GUI

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    mfeathers avatar mfeathers 8 months ago | link

    It’s starting to feel like Bitcoin is the Tamagotchi of currencies.

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      clacke avatar clacke 8 months ago | link

      Personally I’m looking at Android and it sounds like Electrum is the ticket right now, that’s the old and tried wallet that has added this feature.

      Samourai is in early release, and GreenBits is some multisig client server hybrid thingie that I would need to learn more about.

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        chadski avatar chadski 8 months ago | link

        Electrum is the furthest ahead right now. Its Segwit addresses use the new bech32 format which I don’t think many (any?) other wallets know about yet.

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          clacke avatar clacke 8 months ago | link

          Oh goodie, somebody who seems to know something.

          Bech32 is something I first heard of when reading this reddit post. Am I understanding correctly that it is something that can be used on the blockchain itself, so it saves bytes in the transaction? What are the security implications?

          It seems that if you use them, you would need explicit support in the sender, so I hope the Electrum client offers both a bc* and a 3* address to send to?

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            chadski avatar chadski edited 8 months ago | link

            There’s good info here.

            There are three types of wallet addresses:

            • Legacy P2PKH which begin with the number 1
              • “Pay to public key hash”
              • Supported everywhere.
              • Doesn’t allow larger blocks via segwit.
            • Older Segwit P2SH type starting with the number 3
              • “Pay to script hash”, sort of a hack which proxies through a script.
              • Supported everywhere, but it’s only cheaper if making segwit-to-segwit transactions.
              • Allows larger blocks but isn’t the most space-efficient.
            • Newer Segwit Bech32 type starting with the string bc1
              • Can only receive payments from wallets that support Bech32.
              • Smallest transaction sizes (and therefore the cheapest fees).
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              clacke avatar clacke 8 months ago | link

              I installed Electrum and initialized a SegWit wallet. It only uses bc* addresses. The sounds pretty limited – I’m expecting most places not to understand those. :-(