Topic: No fee market with small blocks thanks to BlockPriority of BTCChina - page 2. (Read 1185 times)
November 20, 2015, 01:17:11 PM
Do other exchanges own significant proportions of the global Bitcoin network's hashing power? Could other big players start colluding with exchanges and wallet services like blockchain.info to prioritize their traffic? BTCChina has started a new trend now, and I don't like where it could lead.
November 20, 2015, 01:07:50 PM
http://www.ibtimes.co.uk/bitcoin-giant-btcc-launches-priority-blockchain-transactions-its-customers-1529730
Quote
The service works by submitting bitcoin transactions sent to or from any BTCC wallet address directly to BTCC's mining pool for rapid confirmation. BTCC's mining pool accounts for approximately 13% of the global bitcoin network's hashing power.
BlockPriority prioritises all BTCC's customers' transactions, including those who pay zero transaction fees. Customers who pay lower transaction fees on other exchanges or wallet services may have to wait before the bitcoin network confirms their transactions, said BTCC.
BlockPriority prioritises all BTCC's customers' transactions, including those who pay zero transaction fees. Customers who pay lower transaction fees on other exchanges or wallet services may have to wait before the bitcoin network confirms their transactions, said BTCC.
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