Happy Independence Day Malaysia

Dear Valued Members,

Please be informed that the Pinkexc Office will be closed on 31 August 2019 (Saturday) for the Independence Day Normal operation will resume on 2 September 2019 (Monday)

On behalf of Pinkexc (M) Sdn Bhd, we would like to wish you all Happy Independence Day Malaysia.

Thank you for your continuous support.

Why is SegWit bad?

While SegWit addresses are the newest address format and have the lowest fees, one main side effect and downside with a SegWit address is that not all wallets, exchanges and services support sending to them.

So whilst SegWit addresses are backward compatible, you will need to make sure that whatever you are using to send to your SegWit address – understands the SegWit address. If you are expecting to receive bitcoin from someone and they tell you your BTC address is not valid, they are likely sending from a wallet that does not yet support SegWit. In that case, use your Legacy address to receive your BTC.

Why is SegWit good?

Why is SegWit good?

The main benefit of separating the transaction signature from the transaction data is it reduces the size of the transaction data needed to store in one Bitcoin block. This allows each block to have extra capacity to store more transactions per blocks. This means the network can process more transactions per block and the sender pays lower transaction fees. This helps faster transactions as well as added security. Basically, use your SegWit address to receive deposits if you want lower fees when it’s time to send the BTC out. Another main benefit of SegWit addresses is that they are backward compatible, meaning that you are able to send funds from a Bitcoin SegWit address to a Legacy Bitcoin address.

What is SegWit?

What is SegWit?

SegWit is the process by which the block size limit on a blockchain is increased by removing signature data from a bitcoin transaction. When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain.
Segregate means to separate, and Witnesses are the transaction signatures. Hence, Segregated Witness, in short, means to separate transaction signatures. The concept of SegWit was formulated by bitcoin developer Pieter Wuille.

What is the Genesis Block?

Here is the transaction of the Genesis Block.