Topic: Bitcoin feels like it has some Enron type shit going on with transactions/fees. (Read 290 times)

Oh, by the way, examples of country, after country illustrates how little control they have:
Amazing to see global trade growth on localbitcoins as well (scroll down to see all the individual countries):
https://coin.dance/volume/localbitcoins     :

The fees are just a natural consequence of the network attack from Bitcoin Cash shills. The attack is the only thing that's shady, not the fees. People are paying more and more to be prioritized by miners, which drives the price up. It's textbook supply and demand.

The number of unconfirmed transactions seem to be dropping gradually though. Fees should be back to normal once things settle down.

Run a bath (transaction flow)

Leave the plug out (blocks mining transactions)

The water in the bath is the mempool.


More people use bitcoin, more water coming in. Mostly the plug hole copes.

When hashrate leaves though, that’s like hair in the plug hole. Doesn’t need to be any more ‘spam’ transactions, plughole just can’t cope any more. Bath fills up. Bath only holds so much. Eventually it spills over, data is dropped.

You need a bigger plughole.

(SegWit is a kid splashing in the water. Some of it goes over the side so the plug hole never sees it!)

Exactly what pooya87 said above. Segwit 2x just failed. There are vested interests of controlled centralized regimes to attack Bitcoin.

CONTROL.

Central banks around the world dictate government policy as well as all policies of banks in countries.

Nearly ALL COUNTRIES have banned bitcoin related bank transactions for more than four years (since 2013).

Is this a coincidence?

Bitcoin has been banned all over the world by all big banks in nearly all countries since 2013 (for over 4-years) and the banks have completely failed at stopping Bitcoin. Just try to do a bank transaction say its for "Bitcoin" and watch your transaction be blocked for review.

Everyone in all countries are still finding a way to get Bitcoins. They simply never say "Bitcoin" when dealing with banks. People are smart.

Bitcoin has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

Bitcoin is about 1% adopted by world by now and in a few years it'll be easily 2% to 3% adopted.

Central banks directed a worldwide war on bitcoin since 2013 and have utterly failed.

Speaking of failures, lets talk about these spam attacks.

Smaller blocksize LIMITS spam

Larger blocksize, lower fees ENABLES more spam

Be mindful of the Bad Actors - Avoid these:
DCG = DIGITAL CURRENCY GROUP (Barry Silbert, Jeff Garzik, coinbase, coindesk, blockchain.info, bitpay, bitcoin.com, etc) supports FUD & have/will try to infiltrate & eventually shutdown bitcoin.

r/btc reddit thread and (the other) company-controlled bitcoin website (bitcoin.com) also spread FUD but then try to accuse others of spreading FUD, LOL? Why do they push hard on altcoins (bitcoin cash, ethereum, FUD?)  Why do they push for forks?

Forks creating scamchains are a courtesy brought to you by DCG group of companies led by Barry Silbert with his fellow minion Jeff Garzik and friend Roger Ver. Central banks love to fund their seeders who in turn fund DCG operations so they can get inside the community to circumvent Bitcoin's progress and try to destroy bitcoin via forks, code, media (see coindesk) articles and social posts, funded startups, and flow of funds into exchanges (pumps & dumps).

Luckily their attempts have been marked by continuous and grand failures - altcoins...
"Bitcoin Classic" failure
"Bitcoin XT" failure
"Bitcoin Unlimited" failure
"Bitcoin Cash" failure
"Bitcoin Segwit2x" (BTC1) failure

ALTS = scams

The real Bitcoin, on the other-hand, has the highest value because of the totality of what it is - if it lacked the features of what it is, then there would be no value.


The central banks are LOSING CONTROL.

Just cause Bitcoin isn't a corporation doesn't meant you can't fuck with it and others using it.  It wouldn't be the first time in cryptocurrency.

What the guy above me said, plus bitcoin is completely different to Enron in that it is not a corporation and so cannot follow the same fate, if confidence in bitcoin falls then the price crashes but that will not lead to bitcoin going 'bust' as bitcoin has no assets and no liabilities.

what 0 news?
where were you when bitcoin cash was being manipulated and hashrate was going out of bitcoin into bitcoin cash for about 2 days? that was the news!

when hashrate goes out (drops), blocks are found with a bigger interval. that means less transactions are being mined daily because less blocks are being found. the leads to a larger number of unconfirmed transactions in the mempool.
additionally there is always a spam attack whenever things are chaotic like this.

https://www.youtube.com/watch?v=nWCtKqYnLXA

I just can't help but feel that Bitcoin has something similar going on with the transactions and fees.

Someone somewhere is juicing this thing for everything she is worth.

I just refuse to believe that we go from 0 unconfirmed transactions to over 100,000 unconfirmed on 0 news.