Topic: Bitcoin is gonna doomed (Read 921 times)

When the price of btc increase the fees increases too. I hope this can be resolved too much high fees when doing withdrawals. With these fees possibly bitcoin could be doomed, anyway we dont know yet what will happen but I will always watch the moves of bitcoin.

Now the fee is very high because of the price also very.
We hope next future bitcoin can fix the fee of sending no matter how much we send then it will be same low fee.

The fees will all depend on how well you want your transaction to be processed. I you want it processed instantly, you will pay of course bigger than the usual. I think you are billed high because you didnt notice the transaction rate that is picked.

That $98 fee seems really high. I did some test transactions with my Ledger Nano yesterday and the fee was about $10 with Bitcoins on the Segwit branch for small amounts or $23 for sending 5 BTC. Maybe the $98 fee are the fees for legacy bitcoins on a wallet provider that is a cyber pirate and known for high fees.

I don't think Bitcoin was designed for smallish transactions like buying coffee. I was only planning to use BTC for large transactions or a rare purchase of alt coins.  

PS I disagree that Bitcoin is doomed, BTC is where institutional money is likely to pile into.

whaaat?! $98 out of $110 that's insane. too huge fee but for me, i dont think bitcoin will doomed. 

Yes or no. Bitcoin will survive in the long run, but it will probably be dethroned by some altcoin in the future. Hodling is a lie when it is dethroned.

Hello. There are serious transfusions of capital. Yesterday Bitcoin's capitalization reached 306 billion, Now it is 250 billion. It decreased by 56 billion dollars. A lot of money was withdrawn altogether from the market, the rest were transferred to violas. By capitalization of 7 billion rose Ethereum, 7 billion Nem and Litecoin, because we saw their strong growth today, also in the IOTA.

Most for some reason waiting for the addition of futures for Bitcoin (themselves not understanding why), but no one knows how to behave market. My opinion is that this will negatively affect the price. Yes, this news made many pay attention to Bitcoin, because the price soared. But the big players, most likely, will prepare a surprise. I think before the 18th. Already, we see strong price fluctuations in the market. The price can really fall to 9k (if you do not look at the growth of the last month, such a price is still good), and if it goes back up, then consider us carried.

I came out the day before yesterday at 70%, I wait in the violas, even though Bitcoin falls and the violas follow him, but not so much. Be careful, I hope I'm wrong.

That is if you want top priority. Why is that so hard to understand? If you want to ship a bag of shit across the world within days, that will cost you a lot as well.

I mean Eth is slowed down to a crawl because of a single game. That shows that any and all network will be slowed down/have the fees increased if it's heavily used. Sure, the combination of 1MB blocks and 10 minute block times are getting very slow these days, but it doesn't matter, even 1GB blocks could be filled with junk and we could have the same fees eventually. Amateurishly, cobbled together forks certainly aren't the answer.

Just familiarize yourself with fees (sat/kb) and time to expect the transactions to confirm (https://bitcoinfees.earn.com/) and waith for the solution everyone can agree on.


If you use a web wallet - or any other custodial wallets - you do NOT own your coins, the site with which you trust does because they have the private keys. If you use your own wallet, you can always finetune how much fees you would like to pay.


What privacy?
Energy cost is negligible even if it uses more than a dozen countries combined. We're talking about Bitcoin here and we're rushing towards cheaper and cheaper renewable electricity and if anything, Bitcoin's pushing that race as well.
As if banks would ever create a truly fair, decentralized and trustless blockchain... You have got to be either kidding be or be spectacularily naive. I mean you can get million times faster transactions than BTC with a centralized "blockchain" but that should be frowned upon by everyone. "self blockchain..."

And as I said, any real blockchain will have high fees if it's heavily used.

TL;DR: Some of you really need to re-evaluate why you're here and if you even understand the benefits of true cryptos like Bitcoin.

I have a feeling that bitcoin was being created as a trial coin...looking at the duration of transactions, I don't believe in the distant future of bitcoin

 That just means you pay less fees and wait more hours to complete the transaction..

It doesn´t solve the problem of privacy.
It doesn´t solve the problem of the energy cost that this obsolete network needs to be mantained  wich is an ECO disaster for China and Russia where most mining farms are set..
It doesn´t solve the fact that banks are already implementing self blockchain technology and testing transactions way faster and cheaper than the BTC network.

https://www.kaspersky.com/blog/bitcoin-blockchain-issues/18019/

If you use web wallet blockchain you can actually use the customize fees feature, where you can set the fees manually around 0.0001-0.001 or more. It's true when the network is busy, the transaction fees are high, from your story which blockchain asking $98 fee out of $110, this certainly doesn't make sense. When the network is preoccupied with the many queuing transaction queues that are stuck waiting, of course this is one big problem, but I do not agree with your opinion that bitcoin will doomed.
We all still waiting this solutions, but i believe this can be solves soon or later.

But after all, they have already announced that the bitcoin transaction has been successfully carried out using the "lightning" project, in which it will no longer be necessary to wait for transactions to be confirmed and they will be made quickly. In addition, this project allows you to make transactions of small amounts and commission for them will not exceed one dollar. So basically, all the sore problems of bitcoin are still solved and he is ready again to rush up to new price heights.

Wait for the lightning network - this will allow smaller bitcoin transactions on the network.


BTC

People forget BTC is SOFTWARE.. but think of it as GOLD. NOO. It´s software and it suffers Obsolescence...

It already consumes the energy of ENTIRE COUNTRIES..

at 15000$, fees can be around 15$/20$... if it it goes to 30k$ in 2018... fees will be doubled...

takes hours and even days to complite transactions...


Is this better than a simple traditional bank wire?. No.

The people that tells you it will go to 100k$.. 1M$... whatever.. are early adopters... people that hold a lot of them and wanna play with you the  PONZI... Nobody that respects tecnhology and blockchain would tell you to buy Bitcoin..... Is like a developer told you to buy an Apple  I because it´s the first computer... everyday passing is more and more useless and more and more deficient,

Fee is their bread and butter, if they do not take that high fee, how will they survive?

It's pity that exchanges has a high fees for withdrawal. For example Bittrex takes 0.001 BTC. 0.001 * 15000 = $15. For a withdrawal! I guess this is not a normal thing at all.

Let me show you noobs today's fee because you think I'm f**king lying. check the screen shot, $127+ fee. Now you believe what I said.

Adapt or die. Bitcoin isn't going anywhere. You need to realize that there are steps in place to fix the transaction fees but patience is your best weapon in these trying times.

I think transaction fees are not small problems. I hope that transaction fees for bitcoin and other coins will not be a problem in the future.

That's so true. Whenever the price of btc rises ,the fees goes up too and they are higher than the transaction itself sometimes. But give it sometime and it will go back to its normal rate ,once most of the transactions were processed. It still kind of sucks that you can't make such trades right away, Hopefully this matter won't last for long. We just need a solution for more scalibility in the blockchain and bitcoin will be all fine.