Author

Topic: BTC txns - Increasing cost, decreasing QoS! (Read 99 times)

member
Activity: 227
Merit: 10
December 20, 2017, 10:40:56 AM
#3
The core developers are banking on Segwit, which is not being adopted by many, and lightning.
The users that found this unsatisfactory left to Bitcoin Cash and believe that a simple blocksize increase was all that was needed.

The only thing you can do today within BTC, is move your assets to segwit addresses and only do segwit to segwit.  I don't have a practical cost savings from that, but I'm told you save on fees due to the transaction size being smaller.  Does anyone have an example of segwit costs vs non-segwit costs?

Cost is decided as per unit of tx size (byte)

Thus, less size = lest cost
newbie
Activity: 22
Merit: 0
December 20, 2017, 02:57:57 AM
#2
The core developers are banking on Segwit, which is not being adopted by many, and lightning.
The users that found this unsatisfactory left to Bitcoin Cash and believe that a simple blocksize increase was all that was needed.

The only thing you can do today within BTC, is move your assets to segwit addresses and only do segwit to segwit.  I don't have a practical cost savings from that, but I'm told you save on fees due to the transaction size being smaller.  Does anyone have an example of segwit costs vs non-segwit costs?
member
Activity: 227
Merit: 10
December 20, 2017, 02:53:08 AM
#1
The revenue per BTC transaction for miners is in an upward trend. It has increased 10x in last ~6 months, from ~15$ to ~150$
Reference: https://blockchain.info/charts/cost-per-transaction

At the same time, unconfirmed txns are on a rise.
Reference: https://blockchain.info/unconfirmed-transactions

Free market commands that with increasing cost till a certain threshold, at least quality of service (QoS) should increase, not decrease. The optimum threshold is altogether a different question. Else people may switch.

How is the BTC community working towards this?

Jump to: