Bitcoin HAS FAILED - page 2. | Bitcointalksearch.org

Smoke12

newbie

Activity: 42

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Quote from: bjbear123 on December 17, 2017, 01:08:45 PM

Quote from: Smoke12 on December 17, 2017, 01:06:28 PM

You can choose for a very low transaction fee if you want! This fee will always be lower then SEPA / bankwire fee. But, you have to be patience cuz the transaction can take a while..

I tried a $12 fee, 41/sats and im unfconfirmed for a few days.

When i choose for (high) priority the receiver got in within 2 hours.. 2 weeks ago i did low-fee and took 8 days..

bjbear123

full member

Activity: 181

Merit: 100

Quote from: Smoke12 on December 17, 2017, 01:06:28 PM

You can choose for a very low transaction fee if you want! This fee will always be lower then SEPA / bankwire fee. But, you have to be patience cuz the transaction can take a while..

I tried a $12 fee, 41/sats and im unfconfirmed for a few days.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Quote from: bjbear123 on December 17, 2017, 12:50:55 PM

Bitcoin has failed.

It costs up to $100 to send a small transaction, I find it hard to believe bitcoin hasn't dropped to $0 already. There will be a future crypto (I like Litecoin) but the future crypto is defiantly NOT Bitcoin. Its unreliable and is almost impossible to recover funds if they never confirm.

Im looking forward to bitcoin failing and something else taking over, im surprised im saying that as I hold a little bit of bitcoin, but I feel it has failed and nothing more than market hype and new comers are causing this price influx.

I would of course change my mind if the developers where actively doing something about this issue and keeping us informed, but it appears they are not. Lightning network has not been integrated, Segwit 1x is not used.

Despite us knowing bitcoin has scaling issues for years nothing has been done about it, and now it Is much cheaper and safer to send money via a bank transfer.

The developers did something about it. SegWit is here but It's the services who don't want to integrate it even though there are no downsides for it so It's kinda the community fault for not encouraging the services to use it. Lightning network is under development and the tests are showing good results, I'd say It should be here by 2018 Q1.

Smoke12

newbie

Activity: 42

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You can choose for a very low transaction fee if you want! This fee will always be lower then SEPA / bankwire fee. But, you have to be patience cuz the transaction can take a while..

bjbear123

full member

Activity: 181

Merit: 100

I think hard forks are bad for bitcoin, like the bitcoin cash hard fork just created another alt coin.

From what I have read, Segwit barely lowers the fees, I have also tested Segwit on a hardware wallet, and the fees was marginally reduced. Also the lightning network is thought to have only a 2-4X lower fee price, still nothing substantial.

Could there not be a soft fork that increases the block size, to say, 4/8MB so transactions are much quicker ?

Fatunad

sr. member

Activity: 2226

Merit: 347

Quote from: bjbear123 on December 17, 2017, 12:50:55 PM

Bitcoin has failed.

It costs up to $100 to send a small transaction, I find it hard to believe bitcoin hasn't dropped to $0 already. There will be a future crypto (I like Litecoin) but the future crypto is defiantly NOT Bitcoin. Its unreliable and is almost impossible to recover funds if they never confirm.

Im looking forward to bitcoin failing and something else taking over, im surprised im saying that as I hold a little bit of bitcoin, but I feel it has failed and nothing more than market hype and new comers are causing this price influx.

I would of course change my mind if the developers where actively doing something about this issue and keeping us informed, but it appears they are not. Lightning network has not been integrated, Segwit 1x is not used.

Despite us knowing bitcoin has scaling issues for years nothing has been done about it, and now it Is much cheaper and safer to send money via a bank transfer.

I wont really make any argumentations regarding on the things you do mention on here which most points are actually true except on that Litecoin thing. I dont think this would be suited for such position if you do consider it over bitcoin. I dont know on what would be the most possible solution on the current situation of bitcoin which tx fees are really insane. Confirmation times are long because of congested network. Must really have a solution into this one.

Emoclaw

sr. member

Activity: 420

Merit: 251

What makes you think that Litecoin wouldn't face the same circumstances under the same network traffic & pricing conditions?

You say that Bitcoin should have dropped to $0, but if it did then transactions wouldn't be as expensive. You kind of contradict yourself here.
The Lightning Network is still in development and will be deployed when it's ready. These fees won't cause Bitcoin to go to $0 but a catastrophic failure from buggy software will.

SegWit has been activated and is being used. You need a wallet that supports SegWit in order to use of it.
You say that the developers aren't doing anything, yet 3 Lightning network implementations from different teams were tested for interoperability just 10 days ago: https://blockstream.com/2017/12/06/lightning-spec-electrifies-bitcoin-with-release-candidate.html

bjbear123

full member

Activity: 181

Merit: 100

Bitcoin has failed.

It costs up to $100 to send a small transaction, I find it hard to believe bitcoin hasn't dropped to $0 already. There will be a future crypto (I like Litecoin) but the future crypto is defiantly NOT Bitcoin. Its unreliable and is almost impossible to recover funds if they never confirm.

Im looking forward to bitcoin failing and something else taking over, im surprised im saying that as I hold a little bit of bitcoin, but I feel it has failed and nothing more than market hype and new comers are causing this price influx.

I would of course change my mind if the developers where actively doing something about this issue and keeping us informed, but it appears they are not. Lightning network has not been integrated, Segwit 1x is not used.

Despite us knowing bitcoin has scaling issues for years nothing has been done about it, and now it Is much cheaper and safer to send money via a bank transfer.

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