This is a complete bullshit article.
If you don't pay for network resources, you don't get any - so your transaction takes as long as its going to take, with no guarantees.
If you pay the extremely small miner fee, you get included in the next block rather handily. I myself have done this, and paying what amounts to be a small fraction of the total transaction is worth it to me - and is far lower than standard processors, such as credit cards and payment oligopolies.
Circling back and saying that Bitcoin isn't recognized by governments (it is, in Japan and a few other places) is just icing on the ignorant e-journalist cake. Emphasizing regulation, which at best impedes growth and at worst encourages fraud (See the revolving door between the SEC and major Banks, Primary Dealers, etc..).
Just another "shiticle" that is out there for the page views, not the facts.
Topic: [2016-05-18] cointelegraph :Bitcoin Got 99 Problems, But What Are The Solutions? (Read 265 times)
May 18, 2016, 10:53:03 AM
May 18, 2016, 07:47:16 AM
The average time it takes for a bitcoin transaction to be verified has increased significantly and some transactions remain unverified forever.
Some of the problem stems from the fact that anyone can add a fee to every bitcoin transaction, which bumps that transaction up in the queue, meaning that those who didn’t pay such a fee, or didn’t pay a sufficiently big fee may be waiting hours and sometimes even days for a transaction to complete.
The non-recognition of Bitcoin by governments and institutions has been another factor holding back the cryptocurrency from expressing its full potential. This is a factor that has also affected the Bitcoin identity.
Due to regulatory reasons, we have seen many countries, including the United States define Bitcoin as a commodity instead.
http://cointelegraph.com/news/bitcoin-got-99-problems-but-what-are-the-solutions
Some of the problem stems from the fact that anyone can add a fee to every bitcoin transaction, which bumps that transaction up in the queue, meaning that those who didn’t pay such a fee, or didn’t pay a sufficiently big fee may be waiting hours and sometimes even days for a transaction to complete.
The non-recognition of Bitcoin by governments and institutions has been another factor holding back the cryptocurrency from expressing its full potential. This is a factor that has also affected the Bitcoin identity.
Due to regulatory reasons, we have seen many countries, including the United States define Bitcoin as a commodity instead.
http://cointelegraph.com/news/bitcoin-got-99-problems-but-what-are-the-solutions
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