Imagine you're a parent who wants to send a gift to your child but don't have enough money. Your generous child, who has some savings, decides to cover the remaining cost for the gift. This scenario is similar to how Child Pays for Parent (CPFP) works in Bitcoin.

In Bitcoin, transactions need to be confirmed by miners to be considered valid. Miners are like record keepers who validate and add transactions to the blockchain, Bitcoin's public ledger. To incentivize miners to process transactions, users pay fees. However, sometimes transactions with low fees get stuck in a queue, waiting for miners to pick them up.

CPFP is a technique to accelerate the confirmation of these stuck transactions. It works by creating a new transaction, called the child, that spends an output from the stuck transaction, called the parent. The child transaction has a higher fee, making it more attractive for miners to process. Since the child transaction can't be confirmed without the parent, miners are indirectly incentivized to confirm both transactions together.

Think of it as the child paying for the parent's transaction, expediting the process for both. CPFP is a way for users to take control of their transactions and avoid frustration when their transfers take longer than expected. h/t nostr:npub18kpw3akvdsyk239lx0jgwksr74sq4nlha3r8u9g2rnrhztfpfhysy469c4

@OZ keep us posted

Empty blocks on the #Bitcoin blockchain are those that contain no #transactions. They are a normal occurrence and happen for a few reasons:

1. **Timing and Network Latency:** #Miners race to solve the complex #mathematical problem that validates a new block. Sometimes, a miner solves the #puzzle before they have received any transactions to include in the block. In these cases, they mine an #empty #block to maintain the block creation schedule.

2. **Propagation Delay:** Once a block is mined, it needs to #propagate through the network of #nodes. There can be a slight delay in this propagation, and during this time, other miners may also solve the puzzle and mine empty blocks.

3. **Low Transaction Volume:** During periods of low transaction activity, there may simply not be many transactions to include in blocks. Miners will still mine blocks to maintain the network and earn the block reward, even if they are empty.

The frequency of empty blocks on the Bitcoin blockchain is typically around 1-2%. This is considered a normal and healthy level of empty blocks. It does not indicate any problems with the network or its security.

Here's a simplified analogy to understand empty blocks:

Imagine you're a mail carrier who delivers mail to houses on your route. Sometimes, you may have no mail for a particular house, but you still make the delivery to ensure that the mail delivery schedule is maintained. Similarly, miners mine empty blocks to maintain the block creation schedule on the Bitcoin blockchain.

Empty block #817214 #plebchain

now we #zapvertise

TIL 🤝🏼

It is certainly worth a try

I don’t think moonpay supports CPFP they seem to be mostly a shitcoin exchange

neat!!

He's distraught over Elon leaving; what a pussy

MORE MORE MORE

Child Pays For Parent. What wallet are you sending from?

Excellent review on the tiny seed plate

https://jlopp.github.io/metal-bitcoin-storage-reviews/reviews/tinyseed/

https://void.cat/d/LfemnSCVgWCEXWhjGrMsS5.webp

Let’s see how many idiots fall for this one nostr:npub1jfujw6llhq7wuvu5detycdsq5v5yqf56sgrdq8wlgrryx2a2p09svwm0gx #zapvertising 🤦🏻

does the sending wallet support CPFP?

#gm #nostr #coffeechain #plebchain #art #miamibeach #gfy #tgif https://video.nostr.build/2718347b50ee4b510516a524f8e6339de2ba3b5709b6730798c705cd3b71869e.mp4

Joe, you’ve been skipping leg day, eh? 🫵🏽

Edit out that cucked app 🤢🙄🤣

While the author's sentiment towards #Bitcoin is understandable, their outright rejection of dollar-cost averaging (DCA) as an investment strategy for Bitcoin may be overly simplistic. #DCA is a time-tested and widely used investment approach that has proven effective in various market environments, including those characterized by volatility.

The author's primary argument against DCA is that it reflects a " #fiatmentality " and a lack of faith in Bitcoin's long-term appreciation. While it's true that Bitcoin has historically outperformed fiat currencies, its price fluctuations can be daunting for some investors. DCA helps alleviate this #anxiety by spreading out investments over time, reducing the impact of short-term price movements and potentially lowering the overall cost per Bitcoin acquired.

Moreover, the author's assertion that Bitcoin is the "apex asset" and that fiat currencies will inevitably depreciate to zero may overlook the complexities of the global economy. While Bitcoin's potential is undeniable, it is still a relatively new asset class, and its future trajectory remains uncertain. Fiat currencies, on the other hand, continue to play a crucial role in facilitating transactions and supporting economic activity.

In conclusion, while the author's enthusiasm for Bitcoin is commendable, their dismissal of DCA as an investment strategy is somewhat narrow-minded. DCA remains a valuable tool for investors seeking to mitigate risk and potentially benefit from Bitcoin's long-term growth potential.

#bitcoin #dca #plebchain #art

In response to https://stacker.news/items/318036

#degens get #rekt

🕺🏼🕺🏼