Ok I think I got my point across, no need to spam the forum.
I get that the price is up, and it's going up. That is good, that shows that there is demand for cryptocurrency.
My point was that if this continues BITCOIN won't be the cryptocurrency that will conquer the world, it will be another one.
There is demand for cryptocurrency, just not necessarly for Bitcoin, if the transaction confirmation speed is so slow. People will go to other coins.
It's just that BTC is the gateway to the crypto world, they buy BTC, and then quickly convert it into a better altcoin.
Anyway, good luck, we shall see if BTC will have 80% market dominance in 5 years, regardless of price.
Topic: Goodbye Bitcoin (Read 6081 times)
BTW. 4000 years ago in old Egypt nobody would have complained about how unsuitable Gold is to pay for a pitcher of milk!!
Gold was used to pay for a camel or a house, and bronce or silver was used for the milk hehehe
Gold was used to pay for a camel or a house, and bronce or silver was used for the milk hehehe
OP complains about 70 000 satoshi
that is 0.79$
my, oh my... you should not use BTC to transfer chump change, use DOGE/LTC/ETH/DSH or whatever for that
if you could, for example, pay for a real estate transaction, that .79$ is extremely cheap. $0.79 while you sit in the notarys office for a coffee...not bad!
for a certified cheque, you pay 100 times that much, or even more, and you have a lot of bureaucratic hassle...
So the truth is, do not swamp the blockchain with mini payments. It would help a lot if someone could develop a wallet (hardware or smartphone app) that could handle more than 1 cryptocurrency....
PS I still believe that 1MB blocks are too small but there must be a limit to keep blockchain under control........
that is 0.79$
my, oh my... you should not use BTC to transfer chump change, use DOGE/LTC/ETH/DSH or whatever for that
if you could, for example, pay for a real estate transaction, that .79$ is extremely cheap. $0.79 while you sit in the notarys office for a coffee...not bad!
for a certified cheque, you pay 100 times that much, or even more, and you have a lot of bureaucratic hassle...
So the truth is, do not swamp the blockchain with mini payments. It would help a lot if someone could develop a wallet (hardware or smartphone app) that could handle more than 1 cryptocurrency....
PS I still believe that 1MB blocks are too small but there must be a limit to keep blockchain under control........
I don't know....maybe the whole scaling debate has something to do with this? Has anybody tried to call Mike Hearn and beg him to come back? Has Gavin Andresen said anything? Hopefully, bitcoin will fix itself. There seems to be quite a few complaints today. The price is nice though....
umm , but many people still like to trading in bitcoin
it will alive for long time in future bitcoin
so? the problem is bitcoin anonymous , many people can easyly money laundering at bitcoin
well of course, in my opinion trading bitcoins is a really good chance to making some money in your free time, and maybe even making a living out of it. it will alive for long time in future bitcoin
so? the problem is bitcoin anonymous , many people can easyly money laundering at bitcoin
I hope this is not yet goodbye for bitcoin. I am just starting and is hoping to learn more from this new fascination.
I am also hoping that bitcoin will not leave us a goodbye, and for a memeber like me who always wanted profit to be the main priority of life it not a better signs. We as part of these growing population of digital currency should be able to grow string in achieving our goals, so that bitcoin will not be dead and worst is a goodbyes for all of us who rely on its benefit.
I hope this is not yet goodbye for bitcoin. I am just starting and is hoping to learn more from this new fascination.
First of all, you are explain very long, if you short explain than i think it is easy for us to write quickly. But thanks and about the OP, i totally disagree that bitcoin is failer, as you know in this time bitcoin is $1129, so it is a proof bitcoin will spend a long time and it has bright future. Also if you disagree with my points than only one choice you have sell your bitcoins right now and feel relax. But for me, i will hold the bitcoin for a long time, because i know bitcoin give me good profit.
Ahh, I don't know how to say this, but I have to say the truth. Bitcoin is over. The 8 year experiment that was meant to change the world for the better and to emancipate the human population, has turned into an echochamber of trolls who yell at eachother, while the system is slowly collapsing, and being replaced by other altcoins.
I am in Bitcoin since 2013-2014, I have seen all of it, and mostly the inability of it to evolve. It wasn't as bad until 2015, and throughout 2016 I was silent, but now it's 2017, and things are getting worse. Only a fool will deny that.
If this continues, then Bitcoin will be over. I don't want that, since I have obviously invested a lot of time and effort into this. But I fear that there is no other option now, as I am seeing the inability of the community to resolve issues.
I have sent a transaction 2 days ago, and guess how much fee I had to pay? 70,000 satoshi.
Yes 70,000 satoshi for an average size transaction, with 1 input and 1 output, in order to be confirmed within 2 blocks.
I remember the time when back in 2014 I used to work 3 hours doing stupid faucets for 70,000 satoshi, and now it's all gone in 1 transaction?
Now I have heard the dumbasses saying that we can't have faster than 10 min confirm time because it will create orphans (strangely other cryptocoins don't have this issue). So I can put up with a 10 min confirmation time, just for the sake of this argument.
But to pay 70,000 satoshi in order to have 20 min confirmation, is just ridiculous. I might as well just switch to Paypal, what is the difference at this point?
The alternative of course was to wait 30-40 blocks with a 12000 satoshi fee.
Now is Bitcoin "A Peer-to-Peer Electronic Cash System" like satoshi wanted, with 70,000 satoshi fee OR 40 block wait time?
Or is Bitcoin just a Frankenstein monster, that has obvious flaws (this, miner centralization, nodes are not incentivized, etc) that will slowly die off once better alternatives come in?
And the community reaction is also deplorable. Most people call me troll or shill, just for pointing out legitimate criticisms? What you can't criticize Bitcoin now? Is Bitcoin just an echochamber of fanatics and fanboys? Because without criticism, you can't solve issues.
Given the fact that most new Bitcoiners are from 3rd world countries, where high transaction fee is unacceptable. And given the fact that most people in the world like simple & elegant solutions (like how Apple conquered the marketplace with this method).
People want simple solutions:
So out of these 5 critical marketing poinst, bitcoin can only deliver 1, which is a very poor performance. And there are of course other security related issues, but they are not necessarly cared by Average Joe.
So it seems to me that 3rd worlders have absolutely no incentive to use Bitcoin. They will just use another cryptocurrency that can deliver these promises.
Segwit will probably not pass, and then we will be stuck another 2 years bitching and moaning at eachother and trying to find scapegoats.
And in that time, Bitcoin will be replaced by a better alternative, once the majority of people realize that it's pointless to argue with trolls.
So after 4 years of being in this community, I'm afraid I have to leave it now. I don't see any hope for Bitcoin in the long run. It was a good prototype, and it definitely taught us a lot of good technical things, but also a lot of game theory/ sociology things, where it has been proven in my opinion, that consensus can't be made without a clear voting platform.
So yes, Bitcoin was the first, we thank satoshi for his work. But Bitcoin isn't "THE ONE". It's just a failed prototype with many bugs. And out of this failure a better and stronger coin will arise.
I am in Bitcoin since 2013-2014, I have seen all of it, and mostly the inability of it to evolve. It wasn't as bad until 2015, and throughout 2016 I was silent, but now it's 2017, and things are getting worse. Only a fool will deny that.
If this continues, then Bitcoin will be over. I don't want that, since I have obviously invested a lot of time and effort into this. But I fear that there is no other option now, as I am seeing the inability of the community to resolve issues.
I have sent a transaction 2 days ago, and guess how much fee I had to pay? 70,000 satoshi.
Yes 70,000 satoshi for an average size transaction, with 1 input and 1 output, in order to be confirmed within 2 blocks.
I remember the time when back in 2014 I used to work 3 hours doing stupid faucets for 70,000 satoshi, and now it's all gone in 1 transaction?
Now I have heard the dumbasses saying that we can't have faster than 10 min confirm time because it will create orphans (strangely other cryptocoins don't have this issue). So I can put up with a 10 min confirmation time, just for the sake of this argument.
But to pay 70,000 satoshi in order to have 20 min confirmation, is just ridiculous. I might as well just switch to Paypal, what is the difference at this point?
The alternative of course was to wait 30-40 blocks with a 12000 satoshi fee.
Now is Bitcoin "A Peer-to-Peer Electronic Cash System" like satoshi wanted, with 70,000 satoshi fee OR 40 block wait time?
Or is Bitcoin just a Frankenstein monster, that has obvious flaws (this, miner centralization, nodes are not incentivized, etc) that will slowly die off once better alternatives come in?
And the community reaction is also deplorable. Most people call me troll or shill, just for pointing out legitimate criticisms? What you can't criticize Bitcoin now? Is Bitcoin just an echochamber of fanatics and fanboys? Because without criticism, you can't solve issues.
Given the fact that most new Bitcoiners are from 3rd world countries, where high transaction fee is unacceptable. And given the fact that most people in the world like simple & elegant solutions (like how Apple conquered the marketplace with this method).
People want simple solutions:
- Pronouncable addresses instead of long hash text
- Instant confirmation times (yes it's possible)
- Low or no fees (yes it's possible)
- Unlimited transactions (yes it's possible)
- Simple wallet GUI (ok, this one bitcoin does have through mobile apps)
So out of these 5 critical marketing poinst, bitcoin can only deliver 1, which is a very poor performance. And there are of course other security related issues, but they are not necessarly cared by Average Joe.
So it seems to me that 3rd worlders have absolutely no incentive to use Bitcoin. They will just use another cryptocurrency that can deliver these promises.
Segwit will probably not pass, and then we will be stuck another 2 years bitching and moaning at eachother and trying to find scapegoats.
And in that time, Bitcoin will be replaced by a better alternative, once the majority of people realize that it's pointless to argue with trolls.
So after 4 years of being in this community, I'm afraid I have to leave it now. I don't see any hope for Bitcoin in the long run. It was a good prototype, and it definitely taught us a lot of good technical things, but also a lot of game theory/ sociology things, where it has been proven in my opinion, that consensus can't be made without a clear voting platform.
So yes, Bitcoin was the first, we thank satoshi for his work. But Bitcoin isn't "THE ONE". It's just a failed prototype with many bugs. And out of this failure a better and stronger coin will arise.
maybe bitcoin is taking its way to be arise, maybe it is not yet the end but it is the beginning of the momentum.yes in some cases it has bugs and even error, but someday this error will be success and the bugs will be fix, and that would be nice. we should be patient sometimes, btc is a real money and it is a big thing for us, here in our country many people doesn't know the btc they dont even know what would be the benefecial of it to humans. we should be patient and thankful
you will come back
this thread is prime revival material in 3-5 years time. noobs will marvel at the lack of foresight. there's no shortage of other threads from times past that are identical.
Im sure the op wanna to open your eyes isntead anything else, its true fees are growing in the general some days im able to send multiple transactions for 30k and others days i have to send 50k, but we all know that in the future fees should replace the miners, soo you have to be ready for those or can choose any other altcoin.
you will come back
This! You have been in here for more than a year. I bet you will miss the activity here, especially the arguments between the fudsters and trolls of the forum. You will still be tempted to Buy Bitcoin when it crashes and soon you will be posting here again with your speculations and possible prediction on how much is the price of Bitcoin in the next weeks or months.
At this moment, BitCoin is 1100$+ worth.. Not so smart decision to me
Price of bitcoin when OP made this thread: 02/20/2017: $1047
Price of bitcoin today: 02/21/2017: $1105
Looks like OP fucked up big time. You couldn't have timed a worse time to ragequit in a Mike Hernia style. Enjoy missing on the next big great bubble right at the bottom.
yeah sure. He is totally insane. Bitcoin will keep surviving and keep stronger and stronger. AS you can see, nothing can harm Bitcoin at the moment and no cryptos can compare to this magnificent currency. The more you use it, the more you realize how awesome Bitcoin can be. Hope that the prices will cross $1500 Price of bitcoin today: 02/21/2017: $1105
Looks like OP fucked up big time. You couldn't have timed a worse time to ragequit in a Mike Hernia style. Enjoy missing on the next big great bubble right at the bottom.
Price of bitcoin when OP made this thread: 02/20/2017: $1047
Price of bitcoin today: 02/21/2017: $1105
Looks like OP fucked up big time. You couldn't have timed a worse time to ragequit in a Mike Hernia style. Enjoy missing on the next big great bubble right at the bottom.
Price of bitcoin today: 02/21/2017: $1105
Looks like OP fucked up big time. You couldn't have timed a worse time to ragequit in a Mike Hernia style. Enjoy missing on the next big great bubble right at the bottom.
its in early stage and we should support the technology instead of discouraging it. may be it have limited befinits but it doesnt make the situation worst
not at all good bye, its the starting of a new era, here in country bitcoin is getting popular day by day and government is also helping to make the technology a revolutionize technology and day by day more and more people are getting engaged in bitcoin.
you will come back
Any of us here in this industry are free to do anything we want, we can say whatever we like to do whether good or bad. Now in your case, if you encountered bad experience here it doesn't mean it will affect the image reputation of bitcoin. Because not all individuals are the same thoughts, if you think the end of bitcoin is near well its your opinion and assessment only. Besides you can go anytime you want or you stay still if you like.
I agree with some of the problems you've said. The fee is getting ridiculous at the moment and the transaction speed is getting slower and slower because of the increased difficulty. But if you compare it to other payment, bitcoin is still one of the few who offer lower fee, and bitcoin's function is not only as a currency nowdays. This problem has been there for some time and bitcoin won't die from that.
Even the high transaction fees is not so high in bitcoins. Just convert the transaction fee into dollars, and you should know it is few cents. On the other hand, you can compare it with Paypal or any bank transactions etc. Slowness in confirmation of transactions is the issue which can be resolved soon.
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