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Topic: Bitcoin will die if this is not sorted out - page 2. (Read 499 times)

legendary
Activity: 1372
Merit: 1032
All I know is that I know nothing.
January 13, 2018, 06:14:39 AM
#36
the thing about bitcoin and by extension cryptocurrency in general is that they are new technologies which are currently evolving. the first thing in any new technology is never the best but that first thing evolves into better versions of its initial form.

for example the first cell phone was HUGE with a big ass antenna on top of it for reception and probably gave you brain cancer! but now the same cell phone is evolved into a tiny thing with so much power in its CPU than a simple PC.

in time bitcoin will also evolve as it has been evolving so far in the past few years. and eventually there will be a solution with the issues they are facing. and then new issues will surface and we will solve them too and move ahead.
member
Activity: 140
Merit: 15
January 13, 2018, 05:59:24 AM
#35
It won't necessarily die, it's just a barrier of entry for new people who don't want to spend that much on fees, and also for current users, it turns bitcoin from a payment method to an investment method. Of course, this issue has to be addressed, but it definitely will not kill bitcoin.
hero member
Activity: 1040
Merit: 538
Defend Bitcoin and its PoW: bitcoincleanup.com
January 13, 2018, 05:50:05 AM
#34
I do not think it will die because of it, many people who aren't botherded by the high fees still use Bitcoin because it is a small percentage for them. It wont die, but it really bothers users that have smaller amounts that are practically trapped unless sent with a very low fee. We had similar problems before and got over it, we just have to be patient right now.
hero member
Activity: 798
Merit: 500
January 13, 2018, 05:43:43 AM
#33
yes, I agree with you, I think the intention is not dead, but the crypto world will still exist, but the users are few. and this is a result of expensive and slow systems.
People who are expert in dealing with cryptocurrency knows that the number factor for Bitcoin development and progress is its stock movement where people choose Bitcoin to used on their transaction. When Bitcoin system do not get the proper movement or its movement is against the demand it might lead to total destruction of future. So it might need our help to support Bitcoin in times.
full member
Activity: 322
Merit: 101
January 13, 2018, 05:28:24 AM
#32
yes I think this is true, the evidence has been seen in recent months when bitcoin prices reached the highest peak, in that condition many parties raised the cost of bitcoin transactions, and after that bitcoin prices began to decline slowly.

I'm a big fan of Bitcoin, but I agree the cost of Bitcoin transactions is getting serious and causing problems - they need to find a solution for it, either Lightning or something similar. Things can't go on as they are.
jr. member
Activity: 74
Merit: 1
January 13, 2018, 02:36:56 AM
#31
yes I think this is true, the evidence has been seen in recent months when bitcoin prices reached the highest peak, in that condition many parties raised the cost of bitcoin transactions, and after that bitcoin prices began to decline slowly.
full member
Activity: 420
Merit: 100
Harmony for One and All
January 13, 2018, 02:25:49 AM
#30
Yeah, Bitcoin popularity will die if it not solves it's utiate purpose as being a universal currency and I think this problem will be solved only when scalability issues resolved
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
January 13, 2018, 02:21:03 AM
#29
It looks like Coinbase is one of the main reasons why Bitcoin is struggling at the moment. If Coinbase add support for SegWit and they stop spamming the network with unnecessary traffic, most problems will be resolved.

Coinbase is deliberately supporting Bitcoin Cash over SegWit and they are not batching tx's, but rather allowing people to send individual tx's, causing unnecesary congestion on the MemPool. ^grrrrrrr^
sr. member
Activity: 896
Merit: 253
January 13, 2018, 02:11:10 AM
#28
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  Angry

Well, people tend to go with the flow with our community, it will always depend on the people if they want to invest in crypto, well this way they can get to a max profit by just investing to a coin, so does they care about the fee anymore?
full member
Activity: 938
Merit: 137
January 13, 2018, 02:07:02 AM
#27
In my opinion so far only at bitkoin a problem with slowness and high cost of transactions. Other coins do not have such problems. Such problems in the ethereum are maturing, however, groups are already creating there to solve this problem in advance. In other coins, transactions are fast and with relatively normal transactions at their cost.
member
Activity: 336
Merit: 12
January 13, 2018, 01:18:51 AM
#26
yes, it becomes a very serious problem can not be underestimated and considered trivial
otherwise people become fed up and leave bitcoin, there must be a change
hero member
Activity: 1274
Merit: 516
January 10, 2018, 10:18:55 PM
#25
I believe the effect of high fee already having impact, a lot of users already suggested to used eth or litecoin for transaction because its cheaper and faster, the bitcoin fee is already too high, if you compare with eth you will see huge difference, this things certainly need  to be sort out immediately, if we keep on losing users, then bitcoin will fall down from the throne
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
January 10, 2018, 10:05:24 PM
#24
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  Angry

I think for bitcoin it will need time to see the high fee is reduced but I don't know too much about that. and for the other crypto coins, I think we have many options of the coins that use cheap fees and with the high confirming transaction. I think we still could use the other crypto to make the transaction if we don't want to pay too many fees for bitcoin.
hero member
Activity: 2086
Merit: 994
Cats on Mars
January 10, 2018, 09:57:01 PM
#23
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  Angry

If that were true then bitcoin would be already dead since there are other altcoins offering low fees and faster transactions. And even with lower transactions fees and faster networks, they wouldn't be able to compete against Square, paypal, bank transfers, etc, these centralized systems will always be one step ahead of cryptocurrencies, yet cryptocurrencies are still alive.
Also, people have been complaining about the btc fees even when they were around $5 or less, but look at the fees now (or back in december)...now look at bitcoin...alive and still #1 in the market.
I think you're missing the point of cryptocurrencies, or maybe you don't know the fundamentals of cryptocurrencies. I don't want to go into detail since I believe cryptocurrency newcomers should always do their homework when entering the cryptocurrency world, but just so you know, speed isn't everything, and cryptocurrencies weren't created to be fast payment processors.

We all know know there's a problem with Bitcoin with the long wait times and high fees, but these issues will be sorted out soon. Conclusion: bitcoin will not die because of the reasons you mentioned.
member
Activity: 210
Merit: 10
January 10, 2018, 08:55:19 PM
#22
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  Angry

I agree, cryptocurrency will die slowly if the problem of high transaction fees could not be corrected. many people choose bitcoin or other cryptocurrency to transact in finance because the fee is cheap and now it is to expensive.

I think now it is the time for the developer to think about this problem, otherwise this will be a serious problem. Maybe for the owner of a large capital is no problem because they still got big profit but for those who have small capital or transection with very small amounts of course it is a big problem.
member
Activity: 230
Merit: 10
January 10, 2018, 08:42:59 PM
#21
The transaction fee on bitcoin transactions were much high than the past days. Now as the price has increased, the transaction fee too has leaped to a much higher level. Another thing is that even after providing the respective transaction fee the confirmations were getting delayed. Hope this will get rectified at the earliest to lead towards next level of growth.
hero member
Activity: 1834
Merit: 759
January 10, 2018, 08:39:34 PM
#20
Like other people already have told you here so does Bitcoin Cash solves this issue for you, with lower fees and faster transactions. 

Actually, if you actually care about the well being of Bitcoin, you probably shouldn't support Bitcoin Cash. Their shills are one of the most vocal Bitcoin FUDers on the internet, even going as far as to claim that Bitcoin Cash is the true Bitcoin. They were also responsible for a network spam attack a few months ago, which also ended in a Bitcoin Cash pump and dump.

You're still free to do whatever you please, though, but if you simply want to use alts then Litecoin is a better option. It's faster with lower fees.
member
Activity: 350
Merit: 10
Semi-Decentralized Exchange
January 10, 2018, 08:37:50 PM
#19
It will not die because everyone keep on sorting the bitcoin. Bitcoin is famous and known everywhere. Maybe, in my own idea it won't die unless we keep on sharing the knowledge that we have understand about bitcoin. This kind of business is a new trend business in the market which the product is a concept of everyone that deals with ideas of people who caters to answer some questions which is related to the crypto currencies, BTC and the future of bitcoin for the other years to come.
member
Activity: 180
Merit: 10
January 10, 2018, 08:27:03 PM
#18
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  Angry

maybe yes maybe no ... if the trader has a lot of capital, for trading it does not disturb them, suppose profit + - 1xxx $ / hari and cost spent 100 $ / day of course they will not be bored even though the price of the transaction went up. if you have a little capital of course will make you bored with transaction costs
member
Activity: 434
Merit: 10
January 10, 2018, 08:14:44 PM
#17
Sorting out is a good product concept of bitcoin, in that formation it is creating a hear to people. It is a good idea when a group shared their ideas about bitcoin because it brings bane to everyone and it is a business environment now a days because people are attached to much in technologies for sure Bitcoin is known everywhere. As far as I know it is a new product development and people knows the complete process of it. I surely assure that Bitcoin will not die because it keeps on sorting.
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