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RE: How many of you actually understand Steemit, Bitcoin, Blockchain, Open Source Code, Pow vs POS mining? Knowledge is power y'all , if you want to win you must take the time to learn.

in #steemit • 7 years ago

I am. Well versed in the proof of stake and proof of work topic but Bitcoin blockchain is a whole new level i am trying to understand it. The basic idea is clear but there is so more than that.

And FYI the congestion in the Bitcoin network is quite low right now yesterday I bought about 4 mining contracts via Bitcoin, it took me about 20 minutes for the transactions to get fully confirmed and the fees was just a minute 12451 satoshis @broncnutz

7 years ago in #steemit by
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     7 years ago 

    It's because of Segregated Witnesses aka Segwit

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     7 years ago 

    But it's not yet activated they have only signalled the intent for Segwit and now they have a grace period of about 3-4 days to apply Segwit to their networks and start mining Segwit blocks. Here's my post about Segwit activation you can check it out if you like

    https://steemit.com/bitcoin/@arunava/signalling-of-segwit2x-on-the-bitcoin-network-2017723t6310363z

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