For everyone wanting to debate scaling issues and SegWit direct your thoughts here:
https://bitcointalksearch.org/topic/convince-me-that-segwit-is-necessary-1713018
I want to leave this thread for talks about Apps and Mainstream Adoption. I don't care if you don't think the network can handle it, that's beside the point. If the whole internet explodes as a result of this killer app, then that's the way the cookie crumbles. It will pave the way for your alt-coin with SegWit.
Topic: All it's going to take is ONE user-friendly, practical App (Read 1312 times)
Aye Yai Yai 
Well it all sounds wonderful, until it happens. Then Bitcoin will "crash" within the first week... because we cannot {with the current block size}
accommodate mainstream adoption. PayPal can handle around 10 million transactions per day.... The only way, we will be able to handle that
kind of traffic, would be to take it to off-chain transactions or in future SegWit/LN type technologies. There is no use for people to wait
3 hours for their transactions to be confirmed...
accommodate mainstream adoption. PayPal can handle around 10 million transactions per day.... The only way, we will be able to handle that
kind of traffic, would be to take it to off-chain transactions or in future SegWit/LN type technologies. There is no use for people to wait
3 hours for their transactions to be confirmed...
You're totally right. As of now bitcoin is not wired for that purpose. Until the scaling problem is resolved, there's no chance it can be used in a viral app or product of that caliber.
Ok you guys are right.... what was I thinking? A viral app with Bitcoin integration would do nothing to promote Bitcoin. Forget I even said anything.
Your passive aggressive statement reminds me of my mother.
A Bitcoin killer app would be awesome, AFTER we get the scaling problems addressed. If Bitcoin killer app happened now, you will have a ton of excited, eager noobs trying out Bitcoin for the 1st time. They'll read all the advice, do their first transaction, including the recommended fee and.... BAM! Confirmation times of days or weeks, or not at all.
So many will quit in frustration, it would be very BAD for Bitcoin.
And you can't just say 'increase your fee'. It doesn't work that way because you'll have millions of people all competing for same limited amount of block space available, 1MB every 10 minutes. The miners will like it though.
Is block size an issue? I don't know if it is or not. That's not what this thread is about.
The discussion is about whether or not an App would help push Bitcoin into more widespread adoption.
Regarding Darknet, what do you think is holding Bitcoin back right now? I've told many people about Bitcoin and have even helped people setup wallets. They have a hard enough time as it is figuring out all the protocols. Do you really think people are going to find it easier to setup Tor and browse the darkweb especially with all the negative stigma surrounding it?
My whole point (forget about Pokemon Go) is that most people need a user-friendly, easy app with Bitcoin integration for whatever the purpose may be. It could be shopping, GPS, Uber, it doesn't matter, but until that happens it's going to be slow climbing.
That gets viral like Pokemon Go with integrated Bitcoin application, and Bitcoin will be going SuperSonic.
There is easily a million+ people that have heard of Bitcoin and have not had the adequate motivation or desire to invest into it. Once an application exists that makes it easy for the average person to start using Bitcoin with their every day life, it's over. The flood of people coming into the market will drive the price to incredible levels.
It is just a matter of time before SOMETHING takes off.
There is easily a million+ people that have heard of Bitcoin and have not had the adequate motivation or desire to invest into it. Once an application exists that makes it easy for the average person to start using Bitcoin with their every day life, it's over. The flood of people coming into the market will drive the price to incredible levels.
It is just a matter of time before SOMETHING takes off.
Correct!
How long will we have to wait for this super App though? I've been HODLING for years & will continue to do so but it'd be nice to see some sort of progress after what feels like a long time of no new wave of mainstream adoption.
Real naive considering how popular Pokermon Go got.... Obviously you underestimate the effects of viral marketing on speculative bubbles. And how is the dark web going to make Bitcoin popular when the bulk of the population is against illegal activities. Doesn't make any sense.
we need something real that everyone would want, unlike Pokemon.
something like Amazon with bitcoin or even some stuff in the grey area like darknet,...
i was so hopeful about Openbazaar when i first heard about it and i thought it can make a big difference but honestly i am a bit disappointment right now in Openbazaar!
Ok you guys are right.... what was I thinking? A viral app with Bitcoin integration would do nothing to promote Bitcoin. Forget I even said anything.
Your passive aggressive statement reminds me of my mother.
A Bitcoin killer app would be awesome, AFTER we get the scaling problems addressed. If Bitcoin killer app happened now, you will have a ton of excited, eager noobs trying out Bitcoin for the 1st time. They'll read all the advice, do their first transaction, including the recommended fee and.... BAM! Confirmation times of days or weeks, or not at all.
So many will quit in frustration, it would be very BAD for Bitcoin.
And you can't just say 'increase your fee'. It doesn't work that way because you'll have millions of people all competing for same limited amount of block space available, 1MB every 10 minutes. The miners will like it though.
True enough that would be a great hindrance for our killer game. A better way probably is to make a game that they would use an online wallet where if they send funds to similar people within the online wallet there would be no actually bitcoin transaction but merely a fund transfer. So as not to clog the blockchain and inevitable increase the fees. But the problem with it is that the users will not actually experience bitcoin in its full glory.
Ok you guys are right.... what was I thinking? A viral app with Bitcoin integration would do nothing to promote Bitcoin. Forget I even said anything.
Your passive aggressive statement reminds me of my mother.
A Bitcoin killer app would be awesome, AFTER we get the scaling problems addressed. If Bitcoin killer app happened now, you will have a ton of excited, eager noobs trying out Bitcoin for the 1st time. They'll read all the advice, do their first transaction, including the recommended fee and.... BAM! Confirmation times of days or weeks, or not at all.
So many will quit in frustration, it would be very BAD for Bitcoin.
And you can't just say 'increase your fee'. It doesn't work that way because you'll have millions of people all competing for same limited amount of block space available, 1MB every 10 minutes. The miners will like it though.
For what do you need flood of people with desire to use bitcoin and make bitcoin? It's like when you find out a source of diamonds and say to all like "hey guys here you can make diamonds with me!". Would you do like that? The crowd of people will come and they grab everything and you will stay with naked ass. So there is no sense to attract new users and try to explain something to that sort of people who count bitcoin as something crapy.
Real naive considering how popular Pokermon Go got.... Obviously you underestimate the effects of viral marketing on speculative bubbles. And how is the dark web going to make Bitcoin popular when the bulk of the population is against illegal activities. Doesn't make any sense.
It was super popular for about 2 months. I don't see as many pokezombies around anymore.
At the moment I would think a giant like Facebook or a popular online game that not only accepts bitcoin but offers double points value for btc would get ppl to open a wallet and try it out.
Said app might also need to provide a fast and easy way for new users to get btc at least for a 1st buy.
Said app might also need to provide a fast and easy way for new users to get btc at least for a 1st buy.
How is the dark web going to make Bitcoin popular when the bulk of the population is against illegal activities. Doesn't make any sense.
That gets viral like Pokemon Go with integrated Bitcoin application, and Bitcoin will be going SuperSonic.
There is easily a million+ people that have heard of Bitcoin and have not had the adequate motivation or desire to invest into it. Once an application exists that makes it easy for the average person to start using Bitcoin with their every day life, it's over. The flood of people coming into the market will drive the price to incredible levels.
It is just a matter of time before SOMETHING takes off.
There is easily a million+ people that have heard of Bitcoin and have not had the adequate motivation or desire to invest into it. Once an application exists that makes it easy for the average person to start using Bitcoin with their every day life, it's over. The flood of people coming into the market will drive the price to incredible levels.
It is just a matter of time before SOMETHING takes off.
That is a very naive way of thinking. It will surely take more than an app to make Bitcoin "super sonic" like you said. The rapid growth of the dark markets and the fast growing use of Bitcoin by the people from the criminal underground will have a better chance of causing Bitcoin to rise high. I also can see it grab some of the spculative value of gold in the future.
Fees are so minuscule it's not really a problem for me. I normally pay 0.0001 BTC fees with Blockchain.info recommending 0.00014 BTC. When I used the recommended fee my confirmations were taking 30-120+ minutes. Now, I've changed my fee to 0.00017 and my confirmations are 10-20 minutes on average. 
Well it all sounds wonderful, until it happens. Then Bitcoin will "crash" within the first week... because we cannot {with the current block size}
accommodate mainstream adoption. PayPal can handle around 10 million transactions per day.... The only way, we will be able to handle that
kind of traffic, would be to take it to off-chain transactions or in future SegWit/LN type technologies. There is no use for people to wait
3 hours for their transactions to be confirmed...
accommodate mainstream adoption. PayPal can handle around 10 million transactions per day.... The only way, we will be able to handle that
kind of traffic, would be to take it to off-chain transactions or in future SegWit/LN type technologies. There is no use for people to wait
3 hours for their transactions to be confirmed...
All people have to do is put a *slightly higher fee and transaction speed increases. Since I have been adding a measely 0.00003 BTC to my fee, most of my transactions have been confirming in under 30 minutes. You have to figure that much of the lag in confirmations is do to the dust transactions from faucets, dice sites, etc. If blockchain.info would update their recommended fee algorithm that would speed things up considerably.
But why would the public bother to pay fees when you can use paypal etc without fees?
More to the point, as fees increase, crypto enthusiasts will simply use an alt to move money. There is no reason anyone has to put up with either bitcoin fees or the lags in transaction confirmations.
Why is Block size an issue? Is there a limit on the number of blocks at a time?
The network will throttle itself to around 10 minutes/block. It can exceed this short term, but it will slow down on the next retargeting if it does.
With 1MB blocks, bitcoin can only handle about 3.5-7 transactions per second (depending how you approximate the average transaction size).
Why is Block size an issue? Is there a limit on the number of blocks at a time?
Well it all sounds wonderful, until it happens. Then Bitcoin will "crash" within the first week... because we cannot {with the current block size}
accommodate mainstream adoption. PayPal can handle around 10 million transactions per day.... The only way, we will be able to handle that
kind of traffic, would be to take it to off-chain transactions or in future SegWit/LN type technologies. There is no use for people to wait
3 hours for their transactions to be confirmed...
accommodate mainstream adoption. PayPal can handle around 10 million transactions per day.... The only way, we will be able to handle that
kind of traffic, would be to take it to off-chain transactions or in future SegWit/LN type technologies. There is no use for people to wait
3 hours for their transactions to be confirmed...
All people have to do is put a *slightly higher fee and transaction speed increases. Since I have been adding a measely 0.00003 BTC to my fee, most of my transactions have been confirming in under 30 minutes. You have to figure that much of the lag in confirmations is do to the dust transactions from faucets, dice sites, etc. If blockchain.info would update their recommended fee algorithm that would speed things up considerably.
it is not a matter of higher fees and getting confirmation faster, as Kprawn said at this point if a big thing like what you suggested (pokemon,...) happens and lots of new users start using bitcoin all their transactions are going to accumulate on top of each other because there is no more space in any blocks to include them.
considering the thousands of super sharp minds involved in bitcoin you have to wonder why such an app hasn't arrived yet. bitcoin's still a solution to a problem most people don't know or care about.
How would the network be crippled with 1 Million new users in a day? You don't need to use the network to generate a new Bitcoin Address. What would be the result of 1 million unconfirmed transactions? It's not like the blockchain will create a black hole... or would it?? 
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