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:
  
* 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
* 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
* 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
* 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
  
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.
  
==Status==
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==Attribution==
Receiving transactions by IP address is disabled by default with the classic Bitcoin client. You can enable it by running Bitcoin with the ''-allowreceivebyip'' switch.  This feature may ultimately get removed from the classic Bitcoin client<ref>[http://bitcointalk.org/index.php?topic=9334.0 Remove send to IP address and IP transactions support]</ref>
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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.