Fees are killing/have killed Bitcoin.... it is sad but true. - page 5.

Joel_Jantsen

legendary

Activity: 1988

Merit: 1317

Get your game girl

Quote from: gentlemand on January 23, 2018, 03:05:23 PM

Why are they switching to Ethereum? That has its own fee and chain freezing problem too. As soon as something is used en masse then this will happen. If everyone switched to LTC it would happen eventually too, though it does indeed have more capacity.

Not really.It totally depends how much of a coin's external operations are dependent on other entities like miners,exchanges etc.I'm pretty sure there are coins which have solved the issues bitcoin couldn't or which occurred after bitcoin started scaling.

Quote from: gentlemand on January 23, 2018, 03:05:23 PM

That's why we've sat waiting to see if layer 2 stuff works. No conventional blockchain will ever, ever scale enough to satisfy everyone's daily spending.

What is Layer 2 stuff ? Are your thoughts about conventional blockchain based off facts or just an assumption ?

mersal

member

Activity: 1204

Merit: 38

As you said, bitcoin was killed by more its high transaction fee so now people are moving from bitcoin to other coins that's why the price keeps falling.But it is just temporary problem and it can be solved to great extend if all people start to use segwit wallets then legacy.But the permanent solution will be the implementation of lightning network.

Laurayaki

member

Activity: 93

Merit: 10

Everyone wanted his share of the cake and clearly yes that killed the bitcoin,

Tilim@Tilim

member

Activity: 350

Merit: 10

Fast, Smart, Trustworthy

I don't get why people stress so much paying taxes....since bitcoin is descentralized, I don't see how government can catch you if you own some coins (any of them) and tax them. You don't go with your bitcoin address to the IRS telling them you own. The issue begins when exchanges start sharing kyc data, until then enjoy your coins and don't pay a damn tax.

TimtheYoutuber

full member

Activity: 1708

Merit: 125

www.positivebetting.com

This has been a problem with bitcoin for awhile, but I dont think it will be a sole reason it will fail.

avikz

legendary

Activity: 3080

Merit: 1500

It is truly a pain point now and needs serious attention of the community. Even though fees are decreasing slowly now but it will go up again based on the network congestion. It is indeed killing bitcoin and frequent transactors are moving to the altcoins to meet their transaction demand. I believe lightening network is the best solution we can think off and it needs to be implemented quickly to solve these issues once and for all.

btctalk123

full member

Activity: 274

Merit: 100

But the problem is that it will be never be solved. A lot of people are here only for making money purposes,and they all are trying to do as much as possible in order to earn. And what do you think, they will risk all their money just because of a dip? of course not, that is why they sell everything.

Quote from: LeveldKrypto on January 23, 2018, 03:02:30 PM

Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.

Byatt

member

Activity: 105

Merit: 12

It would be nice if we will used crypto currency as payment for affordable fees. Yes youre right the fees are not reasonable at all its too high than what you pay for food or stuff.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: Seyffertt on January 23, 2018, 03:05:53 PM

Still High, but is going down

Falling fees for now doesn't really cut it. Either Coinbase could decide to up what they're paying ridiculously again or miners might decide to start spamming. High fees are a permanent addition unless Bitcoin's in a fallow period. Even if there is one if any merchant acceptance comes back it may well be extinguished by another period of high fees.

Seyffertt

newbie

Activity: 17

Merit: 0

the fees are 6 bucks for a median transaction

https://bitcoinfees.earn.com/

Still High, but is going down

The sellers need to accept Dogecoin to buy food / drinks and micro transactions

1 cent fee

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Why are they switching to Ethereum? That has its own fee and chain freezing problem too. As soon as something is used en masse then this will happen. If everyone switched to LTC it would happen eventually too, though it does indeed have more capacity.

That's why we've sat waiting to see if layer 2 stuff works. No conventional blockchain will ever, ever scale enough to satisfy everyone's daily spending.

LeveldKrypto

newbie

Activity: 58

Merit: 0

Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.

Schmolke

newbie

Activity: 25

Merit: 5

Only a few years ago we had a growing number of shops here in berlin that you were able to buy food and/or drinks from for bitcoin. Right now there are no more of these stores left. And most of the sellers I used to buy things from on the big marketplaces now refuse to trade bitcoin too and changed to etherium. I know for those people that think that bitcoin is the new gold it is not that bad but bitcoin was "released" to be something completely different. Right now bitcoin is no real crypto currency at all. Buy a coffee for 2,5 bucks and pay 25 bucks fee.... sure.......... In my opinion bitcoin completely failed because of these fees and I sold every last satoshi and invested in other crypto currencies. Is there a single reason to stick to bitcoin? If yes, please feel free to tell me!

Topic: Fees are killing/have killed Bitcoin.... it is sad but true. - page 5. (Read 736 times)