BitAccess Releases ‘Instant’ Transactions Avoiding Block Waiting
Canadian BTM startup BitAccess has revealed a method for purchasing bitcoins without waiting for transactions to be confirmed. The tool, called BitAccess Cash, uses the company’s international network of BTMs to allow users to ‘cash out’ instantly once payment has been sent using a dedicated app. BitAccess, which recently published an investigation on....
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If we've learned anything in the past few months about bitcoin ATMs, it's that it's big business. Last year, the first bitcoin ATM to be made available to the public (installed in a downtown Vancouver by Nevada-based Robocoin) did about $1 million in transactions in the first month. But a new startup called BitAccess, based in Canada, is hoping to make a splash in the market. With $10 million in funding committed by BiT Capital, this ATM manufacturer has already launched a bitcoin ATM in Montreal, another in Ottawa, and Toronto, with other locations in Canada planned. The company's....
Transactions are committed to the block chain about every 10 minutes. Zero confirmation transactions do not reside in a block yet. Instead, they reside in the memory pool of miners. Until a block is mined that includes the transaction, it is said to have 'zero confirmations.' Once included in a block and written to the block chain the transaction has one confirmation. Confirmation time is a measurement of a transaction's depth or age, in the block chain; the higher the number of confirmations, the older the transaction. When transactions are first broadcast to the network, they are zero....
Bitcoin 0.8.6 was officially released this week and the incremental update brings a few bug fixes and some nifty features, such as relaxed restrictions on block size. The biggest changes affect block size. The maximum size of free transactions is now 1,000 bytes instead of 10,000 bytes, allowing more transactions per block. Since each block allows 27,000 bytes for free transactions, this means that as many as 27 free transactions will be available per block, up from three or less in 0.8.5 and previous releases. The minimum output requirement of 0.01 BTC has been dropped, too. The....
On January 24, the Bitcoin blockchain transaction queue was significantly backed up with unconfirmed transactions. At the peak of the backlog, the mempool showed over 67 thousand unconfirmed transactions. Following this event Bitcoin developer Lukejr has revealed his latest Github BIP proposal asking to lower the block size even more. After a Day of....
The first permanent installation of a bitcoin ATM in Ottawa is slated to be unveiled Thursday in the Byward Market area. Manufactured by a start-up company called BitAccess, the bitcoin ATM will find itself at the Clocktower Brew Pub on Clarence Avenue in the country's capital city. As one one come to expect, the ATM will allow customers to buy bitcoin (up to $10,000 daily), and sell that bitcoin for cash. Ottawa isn't the last stop, however. BitAccess - which has come together with the help of Bit-Capital - is planning to launch yet another bitcoin ATM in Toronto. The company says they've....