Topic: My experience with btc so far. - page 2. (Read 704 times)

Welcome to the club in that the reality is always different from what its painted to be. But in all fairness, you weren't here during the good old days when the confirmation is almost instant but now with so much traffic on the network, its making it seems impossible. For your quest to use it, its obvious the game would be over but you can leave it there on the wallet if its not much so that you won't be in the same dilemma in case you want to bet on another game. I guess that's what we have yo live with until there is a solution to what is being faced currently.

It was a roller coaster for me when I entered Cryptoverse. I started few months ago. First, I invested in Electroneum during the ICO then suddenly, I was introduced to this lending platforms. I am a little bet hesitant but since I am a risk taker, I invested in it hoping it will stick until the end. I was able to learn from you tube bloggers and friends. I started to increase other social media sources and used in the Cryptocurrencies. At first, I thought that Facebook is the main medium but turned out to be the least one. I started subscribing to bloggers, updating my Twitter and then Creating new account in Telegram, Discord and other media sites. My mind was blown on how wide is the world of Cryptoverse. Before entering bitcoin and alt coins, I am a trader in stock market. It was nice but money is slow and the hype and dump market is not my type since I dont have resources to keep up with the whales in the market unlike in Cryptocurrencies. I entered bitconnect though I still not like the secrecy behind their platform. As a risk taker, I wanted to lower the risk of lossing all my investment in one platform thus I took every profit from my Bitconnect and wanted to invest on other ICOs. I came from the stock market and from my word it was termed as IPO or Initial Coin Offering.Initial Coin Offerings spawn like mushrooms everyday. The challenge is to look for those ICOs with promising returns. The number risk in these ICOs is exit scams. I started to invest in UTrust and Crypterium and Inda Hash. At least I have Electroneum which I thought will give me fast returns due to too much hype. I realized this ICOs are long term investments and not short to middle term thus started to look for those faster medium until I stumbled with Hextracoin. It was next after Regal Coin. I was amazed on my friend's ROI in Regal thars why I opted to take some from my BCC earnings and put it to Hextra Coin. Unfortunately, after 30 nights of attempting to buy the ICO for this new lending coin I failed miserably. My coin was stucked in their platform and unable to withdraw for several weeks. I thought I was scammed until they reopened. I was very insulted in not being able to buy some. If I was able to buy my 240 $ dollar investment would have been 40X by this time of writing and will be more this month. It was a big failure but did not stop only on that. Another Lending Coin ICO whom I joined named ELektra Exit Scammed on us followed by Nex Coin. Whats worst is because of my frustration in not being able to buy in Hextra Coin ICO, I went all in Elektra Coin hoping to gain more money. I had to learn to take on the loss. It took me a week to accept and move on. I continued investing on upcoming ICOs until I got a jackpot on my new ICOs. I dont want to Jinx it so I will keep 3 new successful ICOs in my mind. Hope was restored. I did a good job in diversifying to control the risk of being scammed. I took everything as a lesson and I am moving forward. I will be investing more. By the way, I tried trading in Bittrex and was unsuccessful even though I joined Pump and Dump groups im Telegram. I learned another big lessons not to be involved on them again. They usually buy first then Pump the coins, as it goes up they dump it so that they earn while you loss yours. Please, avoid those groups and learn to trade the right way. Wait the tide and the waves. I am now sleeping less than before and watching you tube reviews and news more ever than before. I love this job and I am going to invest here until I am able to earn what I am earning in my Job. By that time, I am going to quit and do full time on this business. I have too many things to learn and I will learn as much as I can. I am negative profits at the moment but I have positive feedback and earning is coming soon. I am waiting for it to appreciate before I reap them. To all, Caveat. Always learn to control your emotions but always avoid risks as much as possible. If you take a risk, make sure that it can do big returns to worth of the risk. Diversify your portfolio. Learn FUD and FOMO rules and due deligence always.

Well, it is not btc fault, you are dumb as HELL.

Why didn't you made a little research before sending money? Bitcoin is taking more than 40 minutes to receive the first confirmation , if you dont put fees higher than $4 your TX will get stucked for more than 4 hours.

Probably you putted $1 worth of fees, and that is the reason of why you have been waiting so long.

If you dont know how a system works, then why do you use it?

And yes, no one is using bitcoin to send transactions between $10 and $50, because the fees are a good % of that.

How much did you sent and how much you paid for the fee? Before transactions are instant but because of the growing community of bitcoin and there are too many people that are transacting and it cause the network to traffic so miners need to do something about it on whoever will pay the highest pay will be put in their priority queue. While those low fees will still confirmed but don't expect it will be early.

lol, I just woke up and my transaction still doesn't have any confirmation it has been over 10 hours now, i'd like to have my btc confirm sometime this century if possible.

No one uses bitcoin to make transfers now, ETH is already much faster and cheaper

Exactly that's the main objection i have about crypto-currency. On one hand we advertise that it is the safest and fastest future way for money transaction and on the other hand we have to deal with this kind of delay. Well to make you at ease people at blockchain development projects are working hard to make transaction fast by increasing blockchain size and increasing computation capabilities.

What are you talking about? I never said anything about it being hard for bitcoin to be worth over $10k, I said it is hard to have it be worth that much and at the same time expect the fees to stay low. Moving $10k in any other system will cost you probably $50 in fees, so even paying $5 to make the transaction move faster (which the OP was talking about) is still not a bad deal.

It is not that hard for Bitcoin to get over that price...I don't know what you're talking about.
There is a lot of people that want it.

Like it or not I think it is hard for a token such as Bitcoin to be worth $10k+ and have low transaction fees. I also do not think this is a problem as there are off-chain scaling solutions being worked on and there are lots of other cryptocurrencies one can use at many places. You also have the option of paying a bit higher fees, as still paying $5-$10 to transfer $10k someplace almost instantly isn't that bad. Try using Western Union, your bank, or Paypal to transfer large sums and you will be socked a lot more in fees.

As far as those $5.00 coffee purchases, learn to use cash or keep you bank card or phone bank app handy. I don't think Bitcoin is going to replace those services anytime real soon for the small everyday purchases. Too many people think it needs to be an all or nothing solution implemented right now. The current banking system took years and years to get where it is at, while Bitcoin has only been around for less than 10 years. Give it some time to grow and develop and if you dislike it so much you can always stick to the traditional banking system.

I do not who told you about instantly sending/receiving ; but I think it is very logical that transferring coins take some time to be loaded ( X number of confirmations ) and concerning fees ; I do agree with you; they are relatively high ( especially when we compare'em with small amounts that we want to transfer ) I think it's one of the major inconvenience of this crypto

Similar situation to my experience but it was a relative in my case and he had a mining rig in his room that he showed me and then I became interested after seeing how he makes money by not lifting a finger.

I learn BTC from my friend, first learn he teach how upgrade the position. After that i try to do posting everyday.
And next he tell how do get a job from signature campaign, he teach me step by step. Next I can do by myself.

Bitcoin is good for HODL right now but nothing else. Transaction fees are insane for any regular joe like you and I. If you can stick to alts like Litecoin for that kind of stuff because transaction fees are much lower and they can still be valuable.

A transaction is technically instant; confirmations are just verifying that you're not trying to double-spend and confirm for the rest of the network that it's gone through with no issues. Companies can set it for 1 confirmation, 0 confirmations if they want to, but those are security risks.

And the fees haven't been this high in a fairly long time, I'm surprised that they are this high in a way but at the same time it makes sense they're high because everyone is trying to get involved is also trying to push their transactions through.

But hey, if you don't want to us it that's fine. The rest of the marketplace can agree or disagree however it wants.

Maybe when you transfer the account, the block is more congested. This is also where bitcoin is needed to improve. Sometimes it takes a long time to extract bitcoins. I once extracted bitcoins to my wallet on the exchange, and spent a whole day in debt, which led to a missed investment opportunity.

Using Bitcoin in the poker world or sports betting will be the norm soon I think, but what you say is correct, fee is becoming a problem, and when you are looking for a quick deposit to a website, you will need to pay more fees.
By the way, I am not sure if you used a service like Advcash top up, or did you send a manual payment? If the latter, the delay could also be due to the poker website which needs to credit your account manually, once they receive the transaction? Just a thought, I think the problem could be that. Just contact their customer service to know if Bitcoin payments are credited manually or automatically by their system.
Otherwise, 4 hours is a bit too long I think. Last time I send a payment in Bitcoin to Fairlay, it was credited withing an hour.

I wanted to see what all this BTC was about from watching videos I was told the transactions were instant and that this would be the currency of the future... well I am kind of disappointed come to find out that it is in fact not instant... I have been waiting over 4 hours for this transaction to confirm to play some poker and by that time I can't even register to the tournament I wanted anymore because the priced dropped and the tournament is over.

Puuuurfect...


And not only that but the fees you need to pay just to send a little amount makes it really impractical and I doubt this will be considered a currency anytime soon unless something changes.