Bitcoin is working fine! No change needed! - page 6.

AGD

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Quote from: iram1011 on July 04, 2017, 07:55:09 PM

Bitcoin works excellent when we talk about security and the and as an innovation. But at present bitcoin is facing scalability issue and there is a huge transaction backlog which have created a problem of high fees. Segwit allows more data to be included per block. With 100% of transactions using segwit features this is expected to be about 2MB of data per block, however in the worst case could be up to 4MB of data per block. In so far as it allows a greater transaction volume, it can be expected to increase the UTXO database more quickly. With 100% of transactions using segwit features, the rate of increase might be expected to approximately double; however because segwit is a soft fork, the worst case UTXO growth is unchanged. Segwit solves these problems.

You are not using Bitcoin, are you?
https://blockchain.info/de/unconfirmed-transactions

iram1011

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Bitcoin works excellent when we talk about security and as an innovation. But at present bitcoin is facing scalability issue and there is a huge transaction backlog which have created a problem of high fees. Segwit allows more data to be included per block. With 100% of transactions using segwit features this is expected to be about 2MB of data per block, however in the worst case could be up to 4MB of data per block. In so far as it allows a greater transaction volume, it can be expected to increase the UTXO database more quickly. With 100% of transactions using segwit features, the rate of increase might be expected to approximately double; however because segwit is a soft fork, the worst case UTXO growth is unchanged. Segwit solves these problems.

Anegg

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

I agree with half your point, since Bitcoin right now is great and it needs no change. But who says that in the next 5 years Bitcoin will still stay on top, we need to start improving Bitcoin right now, for us to keep up with all the other alt coins that are trying to overtake Bitcoin. There are still issues right now that are related to Bitcoin, but they are relatively small (transaction fees, long confirmation times), Segwit should fix the miner fees, which is a good since for the growth of bitcoin

danjonbit

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Im putting my faith on Bitcoin. It pretty working fine for now. Lets just wait what happen after August 01, hopefully Bitcoin will be again the best cryptocurrency.

jekjekman

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

No it's not and you know it for yourself maybe it is fine when it comes for its value but the transactions fees and delays is not good about it because one of the trademark of Bitcoin is it can send payment worldwide within a minutes and low cost of transaction fees.

You said that Bitcoin has survive different attacks because the devs is keep on changing something to protect it from any malicious attacks so why you don't want it to adopt to SegWit, if we stick to old and not reliable method then we are not moving forward anymore.

If you believe that Bitcoin is strong and will survive whatever happens then trust this one because this is for good and nothing else.

Taki

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

Bitcoin is the greatest thing ever and I also like it how it is, but this slowly transactions and high fees just killing me. We have to see all positive and negative sides of SegWit and stuff, they all make the use of bitcoin easier, cause of people are coming, everybody want bitcoin. We can't do anything with that, mass adoption is the main thing why the price is raising and we want it raise, don't we?

Feri577

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Quote from: Adbitco on July 04, 2017, 04:27:35 AM

If the bitcoin works fine without any changes then it's ok but as we all know that bitcoin does really need a few changes to be made to facilitate faster transactions with lower fee hence changes should be welcomed. The only thing which is needed is the consensus. There should be consensus among the miners and everyone else in the bitcoin ecosystem should support the devs and miners. After all all these changes are and should be aimed at making bitcoin a much better digital currency than it is now.

I agree we should not be afraid of bitcoin changes because until now they are working well to finish what should be done.

joebrook

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There is always room for improvement when it comes to everything , but seeing how the seeing is going very smoothly now, why do we bother to make changes, changes that might make everything become worse eventually, let's wait and if a problem arises then deal with it.

olushakes

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

One thing that is constant is change and improvement. Even fiat in several countries have been improved upon to reflect current challenges and economic conditions which various improvements have been applied and still being applied in which I feel is equally applicable to bitcoin. There have been several alts that have level on the deficiencies of bitcoin and they are still relevant that alone creates room for improvement not to now talk of the most obvious ones which are the transaction fees and time that taken the upward trend in recent times.

shayshaylaboogie

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Quote from: AGD on July 04, 2017, 01:40:26 PM

Quote from: |Bitkoin| on July 04, 2017, 12:41:56 PM

No, Bitcoin is not working fine. We need to figure out an adequate method to scale BTC so that there can be WAY more tps, therefore lowering fees which are currently killing any chance of going mainstream as fees are even higher than traditional fiat methods such as credit cards, etc. Once we figure that out, only then will it be smooth sailing.

Yes. Bitcoin IS working fine. Fees are much lower than traditional payment methods and there is no need to go mainstream (at least not more than it already is)

I don't know why some of you keep whining about the high fee. Seems you are not using Bitcoin these days. (or you doing it wrong)

If this is fine, then compared to Litecoin, Ethereum, Dogecoin, I'll take broke. It takes forever to confirm a transaction sometimes, even with a decent fee, and at this bitcoin price rate, the fee withdrawing from exchanges is worse than buying a money order with fiat.

It's better than driving to the bank, and its easier than going to the store to get a money order, but compared to other crypto-currencies, it isn't quite what it could be.

Let's hope for a faster network in the future.

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Quote from: johnwest on July 04, 2017, 11:06:50 AM

Every technology needs updating. Similarly, BTC was best when it was introduced, now the situation has been changed, more than many country's populations joined into crypto world and the gateway is BTC. I support the Segwit completely and we needed some changes.

I think you have some point and its true that since there's already a lots of people who's working with this currency there's should be some updates
but the essence should still be keep I'm not really a fan of segwit but if that helps improving the service then let it be.

AGD

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Quote from: |Bitkoin| on July 04, 2017, 12:41:56 PM

No, Bitcoin is not working fine. We need to figure out an adequate method to scale BTC so that there can be WAY more tps, therefore lowering fees which are currently killing any chance of going mainstream as fees are even higher than traditional fiat methods such as credit cards, etc. Once we figure that out, only then will it be smooth sailing.

Yes. Bitcoin IS working fine. Fees are much lower than traditional payment methods and there is no need to go mainstream (at least not more than it already is)

I don't know why some of you keep whining about the high fee. Seems you are not using Bitcoin these days. (or you doing it wrong)

|Bitkoin|

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No, Bitcoin is not working fine. We need to figure out an adequate method to scale BTC so that there can be WAY more tps, therefore lowering fees which are currently killing any chance of going mainstream as fees are even higher than traditional fiat methods such as credit cards, etc. Once we figure that out, only then will it be smooth sailing.

skorupi17

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

Well if your definition of "working fine" is waiting for hours/days to have a transaction be confirmed and having higher fees just to make transaction faster, then yes. Bitcoin is really working fine. Yes, Bitcoin is great but why not make it greater? Bitcoin is still young, in terms of age of existence, we fully understand that but regardless of its age, if a necessary update/upgrade is needed then we have to compromise and do what is needed to be done.

ABCbits

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Bitcoin have so much potential and it's crazy to see you think bitcoin is working fine and no change needed.
Raise block size is really important since there are many unconfirmed transaction and fees is very high compared with 2 years ago, even increase to 2MB can reduce the problem for a while without sacrificing decentralization.
Also, it makes no sense when you say no change needed while you say "Give this baby time to grow, folks." since sometimes growth require upgrade/change.

johnwest

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Every technology needs updating. Similarly, BTC was best when it was introduced, now the situation has been changed, more than many country's populations joined into crypto world and the gateway is BTC. I support the Segwit completely and we needed some changes.

jtipt

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Quote from: Emoclaw on July 04, 2017, 08:08:58 AM

Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

Let's give it some more time to be dethroned by Ethereum.

I don't think that is ever going to happen, let the Ethereum bubble settle and soon enough BTC will be back to its past glory. BTC has few problems mainly because it's still using a older framework give it some time, and I don't think I need to point out that already ETH bubble is bursting.

krishnapramod

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

The current decrease in fee could be attributed to two things.

1. Spam attack stopped.

2. If you look at the stats bitcoin transactions volume has decreased in the last few days, most probably users have started storing their funds offline because of August uncertainty.

Yeah, today bitcoin transactions are getting confirmed with a low fee, but there is always a possibility that spammers would get back to their job sooner or later to manipulate fee or just to push their propaganda and then the same high fee drama would start again.

Second thing, the whole Segwit, BIP 148, and Segwit2x has already created a lot of uncertainty in the community and everyone is getting prepared for it so stalling it further would make the situation worse.

I came to read about Schnorr signatures, maybe this can help combat spam attacks. It was never if bitcoin needs to scale, it was always when and now would be the apt time.

mastadonballs

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Quote from: AGD on July 04, 2017, 01:51:37 AM

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

Everything has its own disavantages including Bitcoin. There are still so many things that Bitcoin need to be repaired. Even the best thing in the world needs to be updated frequently so why doesn't Bitcoin need to be changed?

warrior333

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All complain about the high price per transaction and too long propagation time of payment. It does not develop bitcoin further. If you take no action then all the advantages of bitcoin can be negated by disadvantages. This is not the last update, and I refer to this as evolution.

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