Feature! Not a bug! | Bitcointalksearch.org

leonair

sr. member

Activity: 1400

Merit: 420

Quote from: hsmst4 on September 07, 2017, 07:39:45 AM

I'm a bit late to the bitcoin party but am investing now because I understand and believe in the potential. Need some help from the group though...

Transaction speed, scalability, confusing forks to new coins, transaction fees, etc... These things all seem to be the key barriers to widespread adoption and success of the bitcoin itself. I know development is constantly working on these issues but there seems to be quite a bit of disagreement between the core devs and the miners on the best way to proceed. Segwit2x was a sure thing, but now maybe not? Increase block size yes or no? Ideas like Lightning Network may or may not help? I think everyone agrees that scalability and speed MUST happen but there are some hard liners that are faithful to the original core blockchain design.

I totally believe that the democracy and decentralization is vital. But I'm worried it may be the very undoing of the success of the chain. How can bitcoin be a competitive currency option if it takes 8 hours and $800 to process a transaction? Or will it just be a mechanism for storing significant wealth?

Any devs or miners that can make me feel better???

I can just simple answer about that long hours or waiting time to get the transactions completed, it is because of the transaction fees that the sender put in their transaction because there is a specific block that must be completed to get your transaction to the next one and in able to that you must pay the right fee.

DooMAD

legendary

Activity: 3948

Merit: 3191

Leave no FUD unchallenged

Quote from: BillyBobZorton on September 07, 2017, 07:55:07 AM

Core devs = engineers.

Miners = janitors.

Oh here we go again. Tell us more about how miners are just some subservient underclass who have no free will and have to do what the developer overlords demand. Miners aren't your fucking slaves, you ingrate. Miners aren't "employed" to do what they do. There's no contract they signed that means they have to dutifully follow the chain you want them to. When you invest in some hardware, you can point it wherever you damn well please. Until then, shut the fuck up. You should be thankful you won't have to share a chain with them for much longer if all you're going to do is bitch about them for the rest of forever.

SONG GEET

hero member

Activity: 700

Merit: 500

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Current fee is not quite high if you are not sending some dust amount. For normal transactions recommended fee is still less than 3$ which is really low compared to what other traditional payment gateway charges.

Also bitcoin is more like store of value than currency which should be used in daily life. Bitcoin is not for less than $5 transaction, you will not save much like that way.

mobnepal

legendary

Activity: 1218

Merit: 1006

Quote from: hsmst4 on September 07, 2017, 07:39:45 AM

I totally believe that the democracy and decentralization is vital. But I'm worried it may be the very undoing of the success of the chain. How can bitcoin be a competitive currency option if it takes 8 hours and $800 to process a transaction? Or will it just be a mechanism for storing significant wealth?

Both transparency and decentralization of bitcoin is not the cause of massive fee you might have to pay on fees these days and long time you might have to wait to get confirmation on those transactions.

Just wait for lightening network which will be activated in really near future after segwit which was activated few weeks ago.

Lightening network will allow almost free and instant bitcoin transactions within bitcoin network.

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

Quote from: hsmst4 on September 07, 2017, 07:39:45 AM

I'm a bit late to the bitcoin party but am investing now because I understand and believe in the potential. Need some help from the group though...

Transaction speed, scalability, confusing forks to new coins, transaction fees, etc... These things all seem to be the key barriers to widespread adoption and success of the bitcoin itself. I know development is constantly working on these issues but there seems to be quite a bit of disagreement between the core devs and the miners on the best way to proceed. Segwit2x was a sure thing, but now maybe not? Increase block size yes or no? Ideas like Lightning Network may or may not help? I think everyone agrees that scalability and speed MUST happen but there are some hard liners that are faithful to the original core blockchain design.

I totally believe that the democracy and decentralization is vital. But I'm worried it may be the very undoing of the success of the chain. How can bitcoin be a competitive currency option if it takes 8 hours and $800 to process a transaction? Or will it just be a mechanism for storing significant wealth?

Any devs or miners that can make me feel better???

Segwit2x = terrorists against bitcoin trying to undermine the project by putting goverment agents like Jeff Garzik (see bloq: https://twitter.com/coinalytics/status/836219314780909569) trying to steal the bitcoin brand by bribing miners into this mess.

Bitcoin Cash = Roger Ver and Bitmain's playground to test things out, also crap.

We must avoid Segwit2x at all costs.

Core devs = engineers.

Miners = janitors.

Hardforkers = opportunists.

hsmst4

newbie

Activity: 10

Merit: 0

I'm a bit late to the bitcoin party but am investing now because I understand and believe in the potential. Need some help from the group though...

Transaction speed, scalability, confusing forks to new coins, transaction fees, etc... These things all seem to be the key barriers to widespread adoption and success of the bitcoin itself. I know development is constantly working on these issues but there seems to be quite a bit of disagreement between the core devs and the miners on the best way to proceed. Segwit2x was a sure thing, but now maybe not? Increase block size yes or no? Ideas like Lightning Network may or may not help? I think everyone agrees that scalability and speed MUST happen but there are some hard liners that are faithful to the original core blockchain design.

I totally believe that the democracy and decentralization is vital. But I'm worried it may be the very undoing of the success of the chain. How can bitcoin be a competitive currency option if it takes 8 hours and $800 to process a transaction? Or will it just be a mechanism for storing significant wealth?

Any devs or miners that can make me feel better???

Topic: Feature! Not a bug! (Read 355 times)