Bitcoin transaction fees: what are they & why should you care?

This week, we’ve invited Ofir Beigel to guest blog for us. We’ll let him take it from here.

Recently, scaling bitcoin has been a hot topic for the bitcoin community. Why is this? Well, as bitcoin grows and more users hop onboard, a big priority is to ensure the network can efficiently handle the increasing transaction volume. And lately, many users have been expressing their worries over transaction delays caused by network congestion. In this post I’m going to talk a bit about how transaction confirmations work, and the role that fees play in the process.

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Bitcoin’s busiest week ever

Between Nov 20th and 27th, Bitcoin faced its busiest week ever with 2 million transactions, a near-constant backlog of tens of thousands of transactions to confirm, and a record 333,466 transactions processed in a day. This resulted in average confirmation times reaching an unusually slow speed of more than 2 hours.

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Mempool transaction count chart from Blockchain.info/charts

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Safe browsing and the role of SSL

At Blockchain, we ‘Sanctify Security’. Security is at the core of our business and everything we build. We go the extra mile to underscore best security practices like using a secure password, enabling two-factor authentication, and making a wallet backup. SSL certificates are another way to keep you safe online. Read on to learn more.

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All about passwords: how to safely generate and manage them

There are major perks to using a noncustodial wallet, all of which revolve around you, the user, being in total control of your funds. If you’re new to bitcoin, we’ll admit this can be slightly daunting (at best). Thankfully, we’ve got a few tips and tricks of the trade to make securing your bitcoin wallet and online presence easy and painless.

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3 bitcoin charts explained, plus our chart export feature

When academics and journalists need information about the bitcoin ecosystem, they turn to our interactive charts. And they’re not alone; our charts have been a trusted, helpful research tool for millions across the globe. Today we’re highlighting 3 charts and sharing details about a recent update that allows you to better export and embed our charts. But first, onto the charts.

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Remind, Recover, & Reset: 3 helpful tools to regain wallet access

The Blockchain Wallet is non-custodial, which means you’ll be the only one who can log into your wallet, know your password, and manage your funds. We can never suspend your bitcoin wallet or even know your total wallet balance. Because we put you in complete control of your bitcoins, we also developed 3 self-serve tools to help you should you ever lose access to your wallet.

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Fact or Fiction: The Top 5 Bitcoin Myths Debunked

Bitcoin and the blockchain drive a good deal of weekly news coverage in the mainstream media, but that coverage isn’t always accurate. To help you separate fact from fiction, here are the top 5 bitcoin myths, debunked:

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Don’t take the bait: spotting phishing emails (with Kristov Atlas)

Phishing attempts are nothing new, but we’ve noticed a consistent increase in the number and variety of phishing emails targeting our users and bitcoin users in general.

Our Security Engineer, Kristov Atlas, took some time to collaborate with me on a post that will help sharpen your senses on these suspicious and sneaky emails. Keep reading to find out how phishing attempts can present themselves, and 6 red flags to keep in mind when checking your inbox. These tips can help make sure you don’t get fooled, and help you protect your bitcoin wallet and overall online presence.

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Breaking It Down: Bitcoin Units of Measurement

Today we want to spend some time explaining to beginners what the common units of bitcoin measurement are.

Just like a $1 bill can be broken down into 100 pennies, bitcoin (the currency) can also be broken down and divided into smaller units. Bitcoin’s ability to do this is crucial for user adoption, and for encouraging practical usage as an everyday currency alternative. This also makes it easier when buying bitcoin; depending on its value at the time, it may be more affordable to buy a fraction of the digital currency here and there instead of an entire bitcoin all at once. In fact, a lot of people think they have to buy a whole bitcoin to get started, but you can buy almost any amount you want!

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Welcome to the new Blockchain Support Center

Last week we quietly launched the new Blockchain Support Center! It’s been updated with an entirely new design and layout, plus new content ranging from beginner bitcoin questions, Blockchain product guides, and the most common questions we see from users.

Our goal with the new support center is to make it easier for everyone to get the right help, with the best answers, at any time.

How can we help you?

howcanwehelp

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