Topic: Goodbye Bitcoin - page 6. (Read 6081 times)

SOMEONE SHOULD HELP ME OUT, I STOP RECEIVING AUTHORIZATION MAIL FROM BLOCKCHAIN... WHAT CAN I DO PLS?

thats absolutly true. i am using paytm(local wallet in my country) insted of bitcoin becuase

• they do not charge me anything
• i can pay anyone in my country
• i do not have to wait until there is any bug

this saves me a lot of time and if soon bitcoin didnot gets resolved i am gonna switch to a diffrent altcoin

wait,bitcoin is over just because someone has paid > 70.000 in transaction fees?
wow,then it is well and truly over,goodbye
oh,no it is just one dissatisfied trader who wants you to believe it is over=isn't it
IMHO it is just the beginning ,there will be amazing things to behold and price highs to strom
no system ever created was perfect from the start,while centralisation is one of the dangers bitcoin is facing
it is in no way the tomb stone of bitcoin,just don't believe the "prophets" and everything is going to be allright

Bye, I wish you could've stayed for a cup of tea or something we already have 3 blocks in less than 10 minutes it's not like we can only have 1 block every 10 minutes period. I'm sure the miners will come to their senses when they see their income is at stake.

I think it is a little ridiculous decision, I thought why not follow the growth of bitcoin until a few years into the future, I see all of you complain it will be resolved in some time maybe

Bitcoin isn't over. It won't be unless people will stop using it. You can choose the fees, last summer the recommended one for me was 0.0019...... And I sent around 5 transactions for that fee, but then I found out you can use a smaller one if you wish.

I don't agree, it's not over. It could be better and improved, that is true, and probably with time some things will change for the better but Bitcoin can't transform in second. Also it can't just disappear over night and people will not just stop using it, Bitcoin has passed a very long path to come to the place where is now.

Bitcoin is far from over, I got into the story in late 2013 and all I see is things getting better. Untill bitcoin price drops to low,low.. and big businesses drop bitcoin as a payment option, bitcoin will be well and pushing, and I don't believe that bitcoin will simply die out and stop being used, every day it's being accepted within the world despite it's flaws and problems, but that's why it's open source, you can never know when someone will come and improve it far better.

You raise some valid points and i see it as a legit reaction. Many start using Bitcoin and start believing in it and some do not see moving Bitcoin forward, so they part ways with Bitcoin.
I too have my doubts about Bitcoin and see many problems ahead, but i also see no altcoin that can make it better over all and not just some little point. Maybe i am not looking to close, but i am aware that it could happen, if the right coin comes around. Do you have a coin in mind or do you quit crypto until a new coin that is it will be available?

Bitcoin is more than just a currency tool. I have never really used Bitcoin much as currency, so the current fees are not at all affacting me personally. I use Bitcoin for trading purposes, and as store of value. I don't see how just one single aspect is ruining everything for you, where you discard Bitcoin's other more than useful features. If you want ultra fast confirming transactions and flashy wallets, then there are several altcoins that do pretty well in that regard. No one forces you to use Bitcoin to transact with others.

My reaction after reading OP's whole post:

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Rant all you want but that's not going to solve the problems. Anyone who's been here long enough knows about all that stuffs and you don't have to remind them that these problems exist.


Sorry to hear that your 3 hours of work back then is now just equivalent to a fee of 1 transaction but keep in mind that no one asked you to do faucets back then. No one pointed a gun to your head to do all that work. No one forced you.

And just like you said, bitcoins isn't "The one" for you so might as well just look for an altcoin that suits your needs.

That is the underlying thing that keeps other stocks and assets on the market from going belly up and dying on the stock exchange floor. The investors who believe in it and will keep it going for as long as it takes to see it become either a success or let it die and become an ultimate failure.
It is always up to the investor and the level of optimism they have in the asset, in this case bitcoin, they are favoring.

If you think that Bitcoin is over just sell all you bitcoins and forgot about it. In 1-2 years when your children ask you, why didn't you buy some bitcoins when they cost less then $1 mln we get back to this theme  

Your concern is right, transaction fee is very high, but the confirmation is still very slow. Don't forget we pay a lot to miners.

What a nice piece of advice here pal and i do agree with you and have the same words to speak to op there are some points but most of them wont happen on this time on bitcoin situation as of now. There are lots of safer options on securing bitcoin and also adoption does increase which means bitcoin wont end so easily.

I totally agree that bitcoin at it's hardest time, however i think we could survive this moment if SegWit is implanted whether through easy way (95% adoption) or hard way (split block just like what happened with Ethereum).
Also, i'm sure most altcoin will have hard time or collapsed when they encountered problem that bitcoin currently face

We won't forget your contribution in this forum

Then you should know to report fees in satoshi/byte not absolute amount.
Also a transaction with 1 input and 1 output is less than 200 bytes and even with 120 satoshi/byte you could have high priority with only 24,000 satoshi

We can't have faster block creation because bitcoin is designed this way.

It will create more orphans, and other altcoins do have this problem. Do some research please.
The following is about litecoin:
Feel free to use any other altcoin.

There are some facts here that nobody can deny. Like the fact that block as now full and fee is rising so that we can get faster confirmation, but you are not criticizing. And this is not constructive in any way.

People are not even remembering their phone numbers these days, everything is done digitally and it is saved on our devices so no one cares about readability of bitcoin address.

Yes it is possible but everything comes at a cost. One of which is the orphan problem.

I would love to hear your proposal on this. Lets say we had a couple more halvings; How are you going to reward the miners then? Are they supposed to work for free or are you going to increase the total supply to reward them that way!

What will you do about the size?
All these transactions (lets say instead of 300K current number it was 3million per day) will you run a full node that needs 3 times, or 10 times or 50 times the current blockchain size?)

They are simple enough. From third party web wallets and web accounts such as blockchain.info and coinbase respectively to desktop easy to use wallets such as Electrum and Multibit-HD, to paper wallets such as bitcoinadress and mobile apps. There are lots of easy to use and friendly wallets.

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At the moment the Bitcoin turns to bull, I know it reached your target selling price. You do whatever you like. But you couldn't stop others to invest in it.

Thanks for the very long message... In some aspect I agree with you, but I guess bitcoin is far from over- perhaps the beginning of bitcoin is over.

If I were you, I will just leave my bitcoin in a secure wallet (hardware or paper wallet), keep it in a secure place and move on to other things in life. Come back in 5 or 10 years, and you will be surprise! Hope to see you then!

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.

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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.

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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.

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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.

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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.

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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.