Topic: Bitcoin will die if this is not sorted out (Read 499 times)
It is not gonna die as most likely Bitcoin won’t be used for transactions at all. Anyway, with lightning network coming soon, transaction fees and speed will be solved soon.
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end 
The most who have this problem is probably bitcoin, some coins are just fine with their transaction fees and transfer speed.I just remembered the first transaction that I've ever made with bitcoin it is just 1 freaking dollar that time confirmations take place within 20 minutes
1 hour is the longest, but now bct service board got tons of tx speed up confirmations, I hope devs will fix the issues at the right time.
Bitcoins won't die because of slow transactions and high fees. Not unless it causes users to abandon it. No users, bitcoins won't have any value.
I also think that it's a bit unfair to compare bitcoins to other clubs because bitcoins are have higher demand which is the reason why there is traffic causing high transaction fees.
Other coins on the other hand have no scaling problem because there is nothing to scale.
Lightning network is the only idea that some think will resolve the problem. Yet we need to be patient, if we rush things out, we might waste a good formula.
I think the price today is still enormous. Before bitcoins pump tonits maximum, it's price is $5k. Still no losses that I have found.
I have been thinking about this for awhile now. Bitcoin needs to have low transaction fees and fast transaction time so that it is adopted by big firms and in turn by the people. Right now bitcoin is for big transactions not for petty ones. I wonder how McDonalds is going to deal with the transactions. But is it possible to fix this issue? Could someone shed some light?
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
The high transaction fee, especially for Bitcoin, is a burden to all Bitcoin users (except of course you are rich enough and wouldn't mind to pay $15 for the fee). However, not all cryptocurrency requires big transaction fee. If you could see, some are saying that you have to resort to other coin if you do not want to pay much in transaction fees. If any cryptocurrency will die due to high tx fee then it will be Bitcoin then another coin will step up.
and who's to repair all these troubles?
The million dollar question of the day
People have been saying that Bitcoin was a scam and worthless since it was developed. All I know is that if I bought 100 BTC in 2011 for $10 each as I told myself to, I would be retired right now. Unfortunately, I listened to the FUD and was too cautious and didn't buy. I also would be investing in altcoins since many of them are still creating huge profits. History is a great teacher if we are willing to learn and adapt. For what it's worth, I believe the privacy coins are going to be the "goto" coins in 2018!
Actually that's not something that's going to "kill" bitcoin. But it will keep it from reaching a mass market beyond people trying to make some gains.
What about all this people that are complaining about transactions that got stuck for days?
There has been some services that you pay directly so they mitigate stuck transactions with their miners.
You can easily get burned with twice the fees just like that.
A month ago i didn't even knew that transaction can actually get stuck.
There has been some services that you pay directly so they mitigate stuck transactions with their miners.
You can easily get burned with twice the fees just like that.
A month ago i didn't even knew that transaction can actually get stuck.
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
It won't die anytime soon as bitcoin became popular recently so to sort the traffic ample amount of time should be given for various trading servers to handle bulk requests. Currently, transaction fees and speed is trash, but it will eventually become better. 
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
The most who have this problem is probably bitcoin, some coins are just fine with their transaction fees and transfer speed.I just remembered the first transaction that I've ever made with bitcoin it is just 1 freaking dollar that time confirmations take place within 20 minutes
1 hour is the longest, but now bct service board got tons of tx speed up confirmations, I hope devs will fix the issues at the right time.
You have choice, bitcoin have high fee and so long time to proces one transaction. you can always switch to other coin
And then what?
It's irrelevant that I can switch to another coin when shops don't take any other coin then BTC.
They are some that take few crypto, but you must look them with a lamp.
You have choice, bitcoin have high fee and so long time to proces one transaction. you can always switch to other coin
Actually, the high fees right now is because of growing fame of bitcoin and the problem with this is that more people buy bitcoin then hold it than those who mine it. To solve this problem, we should promote mining in various countries so that the congestion would be lessen or eliminated.
Agree with you that BTC will die if the high fees issue is not solved ASAP. The congested network had made it even worse to use BTC for making transactions. The confirmation time has increased causing delayed confirmations. But we need not worry because these issues will be solved as the Lightning Network will most probably solve it and it will be established soon on the network. The transactions will get confirmed soon on the side chain. Although the issues will still be there on main chain but the fees will be reduced since the transactions will be cleared and the congested network will be demolished. So Lightning Network will mostly solve the issues.
There will probably be some next step to solve this high fees, if not BTC will actually fall behind some other crypto currencys.
For know we have only seen forks whenever problem occurs.
Forks are not good because you cannot force shops to implement new crypo currency whenever some new fork happens.
For know we have only seen forks whenever problem occurs.
Forks are not good because you cannot force shops to implement new crypo currency whenever some new fork happens.
and who's to repair all these troubles?
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
Bitcoin is the only crypto who is facing high transaction fee otherwise all other cryptos have low fee.But it is just a temporary problem for network it will be resolved when the lightning network was implemented.We can hope that it will be implemented in the middle of 2018. 
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
I believe that this should be one of the major concern about things to develop for bitcoin. The same way bitcoin increase in price the problem with transaction fee also arise. Some people now choose etherium over bitcoin for trading. Bitcoin is still a good one for investment but thee preferable coins which lower transaction fee.Though, its really normal for bitcoin to have disadvantage sure it will be fixed to make people be satisfied. Bitcoin have come a long way, there no ways bitcoin will just be ended because of high transaction fee. Speeding up and low fee of transaction is not really an impossible one to happen. Let's just hope that bitcoin will go better
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I disagree. Bitcoin can be used to store large sums of wealth such as gold is used to store wealth. In other words if not used to purchase small priced items it will be perfect.
So when the time bitcoin is used to transfer this wealth, the fee charged will be insignificant compared what you would have to pay a bank to transfer a similar sized amount of money.
The wait time will not be a factor as the confirm time can be done in less than 30 minutes.
So when the time bitcoin is used to transfer this wealth, the fee charged will be insignificant compared what you would have to pay a bank to transfer a similar sized amount of money.
The wait time will not be a factor as the confirm time can be done in less than 30 minutes.
Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
I am sure they know the problems that the investors are facing, They are sure to do something to fix the problem, I know that BCH is currently not having the said problem because they have the lowest fees in the whole crypto world. Bitcoin and other crypto coins will die a slow death if they do not sort out the high transaction fees and the stuffed up slow arsed networks. People will just get fed up with it in the end
I am in total agreement with you. It has already started affecting it's value in the exchange floor. Old holders can not use it for transactions, to the extent that about 20% of the total transfer amount is charged. This has also discouraged the prospective users. So if this is not resolved soon, then it would definitely come to a halt. Jump to: