It is not just about the capabilities of exchanges but I do see it is due to lack of awareness on different ways to buy bitcoins. Literally people who are already owning bitcoin also not showing interest on finding more knowledge on bitcoin related things. One example here must be, bitcoiners simply stick with web wallet and saying they are not aware of what is light wallet or stand alone wallets.
This may be because people started showing interests into bitcoin barely only for one reason : store of value. When they do come across main stream adoptions, I believe they might educate themselves.
Topic: Scaling of exchanges is also a problem (Read 335 times)
Ok, everyone is fighting over block sizes and how Bitcoin should scale to match growth, but most people still use Bitcoin exchanges to buy Bitcoins
and if they drop the ball too, Bitcoin will fail. Most new Bitcoin users wants to buy bitcoins via centralized services like Coinbase. They are used to
banks and the protection it gives them. We have recently seen several of these exchanges crashing when we need them the most.
https://techcrunch.com/2017/05/25/coinbase-outage-unprecedented-bitcoin-interest/
We surely would have passed $3000 per bitcoin, if these exchanges were capable to handle the traffic and we would have been way past $5000
per bitcoin, if Bitcoin scaled. { slow transaction confirmation are chasing people away }
and if they drop the ball too, Bitcoin will fail. Most new Bitcoin users wants to buy bitcoins via centralized services like Coinbase. They are used to
banks and the protection it gives them. We have recently seen several of these exchanges crashing when we need them the most.
https://techcrunch.com/2017/05/25/coinbase-outage-unprecedented-bitcoin-interest/
We surely would have passed $3000 per bitcoin, if these exchanges were capable to handle the traffic and we would have been way past $5000
per bitcoin, if Bitcoin scaled. { slow transaction confirmation are chasing people away }
From what I have read there, I see no way its the fault of exchange sites why transactions are slow as even exchange sites are the ones monitoring the network for users in other to hasten up their waiting time. Its true that some exchange sites have failed us while some was born out of moral deficiencies others are as a result of attack but their contributions can also not be whisked away like a packed of cards because when we all patronise the established ones like the example you gave then I doubt if they can maintain the pressure.
Ok I won't give any opinion on your supposition about the price we could have reached. Not sure it would have changed much.
What I agree on though is the horrible scale of exchanges!!!! It's the main reason I've stoped all kind of trading! When market goes a bit pad like in last week, exchanges simply stop answering! You can do nothing but see your profit going away!
Especially when exchanges like kraken handles so badly stop and limit orders...
What I agree on though is the horrible scale of exchanges!!!! It's the main reason I've stoped all kind of trading! When market goes a bit pad like in last week, exchanges simply stop answering! You can do nothing but see your profit going away!
Especially when exchanges like kraken handles so badly stop and limit orders...
Ok, everyone is fighting over block sizes and how Bitcoin should scale to match growth, but most people still use Bitcoin exchanges to buy Bitcoins
and if they drop the ball too, Bitcoin will fail. Most new Bitcoin users wants to buy bitcoins via centralized services like Coinbase. They are used to
banks and the protection it gives them. We have recently seen several of these exchanges crashing when we need them the most.
https://techcrunch.com/2017/05/25/coinbase-outage-unprecedented-bitcoin-interest/
We surely would have passed $3000 per bitcoin, if these exchanges were capable to handle the traffic and we would have been way past $5000
per bitcoin, if Bitcoin scaled. { slow transaction confirmation are chasing people away }
and if they drop the ball too, Bitcoin will fail. Most new Bitcoin users wants to buy bitcoins via centralized services like Coinbase. They are used to
banks and the protection it gives them. We have recently seen several of these exchanges crashing when we need them the most.
https://techcrunch.com/2017/05/25/coinbase-outage-unprecedented-bitcoin-interest/
We surely would have passed $3000 per bitcoin, if these exchanges were capable to handle the traffic and we would have been way past $5000
per bitcoin, if Bitcoin scaled. { slow transaction confirmation are chasing people away }
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