Child-Pays-For-Parent: Bitcoin Transactions Now Confirmed in Seconds

The torment of waiting hours for a Bitcoin transactions to confirm is officially over, thanks to a little-known trick called ‘child-pays-for-parent’ (CPFP).  

 Transactions in Seconds from Most Wallets

A Reddit post by user super3 Friday states that if a transaction is sitting idle due to a low (or ‘standard’) fee, a CPFP transaction may be created to speed it up – drastically. An unnamed developer reportedly confirmed the validity of the trick, which can be used with a variety of popular wallets. I learned from one of the developers that works with me that you can use child-pays-for-parent Read the rest

Did Japan Really Trade More Bitcoin than US this Weekend?

Bitcoin technology is unquestionably finding its share of fans in Japan, a country which recently proposed a rather friendlier regulatory framework for the digital currency. And now, the land of the rising sun is making a similar progress in terms of online trading. Over the gone weekend, Japan has reportedly recorded the world’s second highest Bitcoin trade volume, falling just short of touching China, while beating the US. A discussion initiated on Reddit provided an image to prove the claim. The snapshot showed how BTC/JPY trading instruments was sitting on the top of BTC/USD and BTC/EUR respectively. Even though the… Read the rest

London Institute Uses 64 Monitors to Demonstrate How Bitcoin Works

The Imperial Data Science Institute in London has an exhibit of 64 monitors with lines moving in geometric shapes representing real-time bitcoin transactions, according to The Imperial College of London website. Imperial Science image 2 Harry Pettit, a graduate student, recently visited the exhibit and discovered it provided a unique way to visualize transactions, according to a news story on the college website. The institute houses the world’s most advanced data visualization platforms. Pettit visited the institute to learn more about bitcoin.

32 Computers For 64 Monitors

The institute houses the KPMG Data Observatory, which has a circular wall of 64 monitors managed… Read the rest

Bitcoin will pay for public services in a small Swiss town

It might seem odd to center a trial like this on a municipality with less than 30,000 people, but this is potentially an ideal testbed. Zug takes a laissez-faire attitude toward its economy, even in the context of Switzerland, and has much more financial clout than you’d expect – 3 percent of the world’s oil trades through the area. Combine that with a burgeoning financial tech sector and it’s likely that at least some locals will fork over some Bitcoin. The real question is whether or not any other cities will bite. While some governments have been warning up to… Read the rest

Exclusive: Jeff Garzik’s Stealthy Ploy To Get Bitcoin Onto Private Blockchains

Longtime Bitcoin core developer Jeff Garzik acknowledges Bitcoins’ branding problem. “The bitcoin name, in terms of marketing, is something that larger institutions are somewhat reluctant to deal with, related to the history with Mt Gox and Silk Road, most notably.” Garzik bemoans how this reputation follows the word Bitcoin. Luckily, it doesn’t follow the technology. And, that’s how he plans on getting some of the largest multinational firms in the world to adopt not only blockchain technology, but Bitcoin as well.  “It’s a very simple psychological trick: you switch out ‘Bitcoin’ for ‘blockchain’ and then, suddenly, they are very interested,”… Read the rest

BTC/USD: Bitcoin Continues to Rise ahead of Twofold Reduction in Mining Rewards

The value of bitcoin appreciated 1.5% in the first week of May, as demand for the cryptocurrency continues to rise ahead of the planned halving of rewards for bitcoin miners on July 12. The BTC/USD exchange rate referenced by the global cryptocurrency market has risen 1.5% since the beginning of May. It was last seen trading at $459.03 after multiple attempts to break the $470 resistance level. The technical indicators suggest further upside is in store for the BTC/USD. Relative strength is slightly above 60 and rising gradually, while the MACD remains in positive territory. Price action is strong, with… Read the rest