Difference between revisions of "IP Transactions"
 
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Sending bitcoins to an IP address is just a convenient way of sending bitcoins to a Bitcoin address along with additional information.
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Sending bitcoins to an IP address was a convenient way of sending bitcoins to a Bitcoin address along with additional information. To send Bitcoin transactions using IP, the following steps are used:
  
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* You contact the IP address to find out if they're actually running Bitcoin and accepting IP transactions. If not, no transaction occurs.
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* The sender contacts the IP address of the receiver's server to discover if there is a service running which is capable of accepting IP transactions
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* Your additional information ("from", "message", etc.) is exchanged with the server.
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* The sender's additional information ("from", "message", etc.) is exchanged with the server
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* The server generates a brand new [[Bitcoin address]] and sends it to you.
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* The server generates a brand new [[Bitcoin address]] and sends it to the sender
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* You send coins to this address in the normal way
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* A Bitcoin transaction is created and sent to the network in the normal way
  
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Unfortunately, the current implementation provides no authentication, so any "man in the middle" can intercept your Bitcoins during the transaction. When they see that you're sending a Bitcoin payment by IP address, they pretend to be the actual destination and send back ''their'' Bitcoin address. You end up sending Bitcoins to the wrong person. It's therefore not a good idea to send Bitcoins in this way, ''especially'' if you're using a proxy.
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IP transactions were disabled early in Bitcoin's history however the [[BSVAlias]] service marks the beginning of a return to enabling Bitcoin commerce using server infrastructure to manage receiving wallets for users.
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==Attribution==
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This content is based on content sourced from https://en.bitcoin.it/wiki/IP_transaction under [https://creativecommons.org/licenses/by/3.0/ Creative Commons Attribution 3.0]. Although it may have been extensively revised and updated we acknowledge the original authors.

Latest revision as of 12:08, 17 February 2020

Sending bitcoins to an IP address was a convenient way of sending bitcoins to a Bitcoin address along with additional information. To send Bitcoin transactions using IP, the following steps are used:

  • The sender contacts the IP address of the receiver's server to discover if there is a service running which is capable of accepting IP transactions
  • The sender's additional information ("from", "message", etc.) is exchanged with the server
  • The server generates a brand new Bitcoin address and sends it to the sender
  • A Bitcoin transaction is created and sent to the network in the normal way

IP transactions were disabled early in Bitcoin's history however the BSVAlias service marks the beginning of a return to enabling Bitcoin commerce using server infrastructure to manage receiving wallets for users.

Attribution

This content is based on content sourced from https://en.bitcoin.it/wiki/IP_transaction under Creative Commons Attribution 3.0. Although it may have been extensively revised and updated we acknowledge the original authors.

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