Topic: To speed up transaction via fiat money is a Shame for Bitcoin (Read 12371 times)
This is the most problem in blockchain getting too long to confirm the transactions. Because I already encountered this kind of service that it took more than 24hrs to confirm. So it needs to be by adding fees the speed transactions would be.
This is no different from paying more mining fees for priority transactions. Seriously with all the posts about scaling this is getting tiring
Indeed, it is just the same thing again and again. It would be better if one day the news will be BU and Core had agreed with a merge solution. But well definitely not going to happen. I have heard of pride and ego and lots of people worship it especially if it is theirs.
The fees isn't very high, but no longer suitable for micro/small-transaction. I still prefer to pay higher fees than use this kind of services.
This is sign forcommunity miners to choose to support BU/SegWit/other solution very soon 
yes it think the fee must be regulated and not to let them as free option, there must be a regular check on the increasing fees of the exchanges and not to let them as free handed. This is sign for
Instead of using these RBM services to accelerate transaction and paying them for doing this,wouldn't it be better to increase the transaction fee to get fast confirmation?I have seen there are thousands of people who either do not want to pay the transaction fee or add as less as they can and that could be the reason of chocking network
Maybe people don't want to pay higher transaction fees to get faster confirmation? Because it will defeat the purpose of bitcoin as being a fast micro-payment system? Well I have to admit this transaction fee issue is really getting out of hand and I'm also frustrated to the point of not using bitcoin anymore as mode of online payment. But I think this is another roadblock in front of us so I might just still continue to have bitcoin as alternative payment until such time that a solution has been made by core dev.
I think it is unethical practice by miners to give priority to high fee attached transactions.
The fees isn't very high, but no longer suitable for micro/small-transaction. I still prefer to pay higher fees than use this kind of services.
This is sign forcommunity miners to choose to support BU/SegWit/other solution very soon
This is sign for
Seriously? Few days ago I've paid 1,92$ fee to not make my money stucked. It took 3,5h for transaction to be confirmed. Is that deal fair and reasonable in your opinion? Bitcoin's competitiveness potential is decreasing everyday with 1MB block size.
As more blocks are filling up, not all transactions can be included in the blockchain straight away. As a result, mining pools revealed a transaction accelerator platform where RMB are charged to make transaction confirmation faster. This is so ironic considering RMB is legal currency and bitcoin is decentralized.
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
Viabtc service/tool is for free. you can accelerate your tx without paying anything. here see/try it yourself https://www.viabtc.com/tools/txaccelerator/ READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
You know the other (involving less hassle) way to speed up confirmation? Don't pay miners fiat, pay them BTC instead
Oh, the irony! It's like bitcoin's not enough. Thank goodness I only transact on localbitcoins and don't have to worry about the transaction fees. It really is a shame that it seem to be no more useful for small transactions. People had hopes that they can use it as fiat substitute when going to stores. It was also promising as a remittance medium though it seems now people would have withhold their earnings first till it's large enough to be worth the fees before sending it to their families.
As more blocks are filling up, not all transactions can be included in the blockchain straight away. As a result, mining pools revealed a transaction accelerator platform where RMB are charged to make transaction confirmation faster. This is so ironic considering RMB is legal currency and bitcoin is decentralized.
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
In fact there is not such as an "innocent" service that pays someone with fiat to accelerate his transaction but an advertisement from Jihan Wu supporting the BU communication channel. There are some ways like as opt-in RBF feature some wallets have to speed up an unconfirmed transaction increasing the fees without the need to go with fiat. Here you go
i can see how such services can be useful in some rare cases but it is pretty messed up to ask for something like this while you are earning pretty high amounts of money from the block reward you are already mining and with the bitcoin price at current levels you are already making a very huge amount of profit from 12.5BTC reward.
and all the while ViaBTC is doing the same thing for free!
and all the while ViaBTC is doing the same thing for free!
Instead of using these RBM services to accelerate transaction and paying them for doing this,wouldn't it be better to increase the transaction fee to get fast confirmation?I have seen there are thousands of people who either do not want to pay the transaction fee or add as less as they can and that could be the reason of chocking network
Maybe people don't want to pay higher transaction fees to get faster confirmation? Because it will defeat the purpose of bitcoin as being a fast micro-payment system? Well I have to admit this transaction fee issue is really getting out of hand and I'm also frustrated to the point of not using bitcoin anymore as mode of online payment. But I think this is another roadblock in front of us so I might just still continue to have bitcoin as alternative payment until such time that a solution has been made by core dev.
As more blocks are filling up, not all transactions can be included in the blockchain straight away. As a result, mining pools revealed a transaction accelerator platform where RMB are charged to make transaction confirmation faster. This is so ironic considering RMB is legal currency and bitcoin is decentralized.
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
What is the big deal in that, its just normal in any business. Bitcoin is not yet autonomous and still dependent on fiat currency to give it a value. Using simple logic when we pay the miners fee with bitcoin the miners are going to convert that bitcoin to their local fiat currency to pay for the electric bills, salary of personnel and many more. So paying them with fiat currency is not a problem since if we will pay them with bitcoin they will just sell it or convert it to fiat currency.
Instead of using these RBM services to accelerate transaction and paying them for doing this,wouldn't it be better to increase the transaction fee to get fast confirmation?I have seen there are thousands of people who either do not want to pay the transaction fee or add as less as they can and that could be the reason of chocking network
As more blocks are filling up, not all transactions can be included in the blockchain straight away. As a result, mining pools revealed a transaction accelerator platform where RMB are charged to make transaction confirmation faster. This is so ironic considering RMB is legal currency and bitcoin is decentralized.
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
Yeah, i had to wait for around six days for my transaction to get confirmed due to low fees.The main feature of bitcoin,low transaction fees has been compromised.Here after, bitcoin might be liked for its other salient features and not for low transaction fees any more.READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
sorry, but i find it very hard to believe that you had to wait six days for your transaction to get confirmed. nodes won't re-broadcast transactions that have almost zero chances of getting confirmed for several days in a row. or you have a node running where you are pushing that transaction constantly to the network yourself. but i doubt that.
yes it is a shame, I guess the problem will be solved in the end of the year.
As more blocks are filling up, not all transactions can be included in the blockchain straight away. As a result, mining pools revealed a transaction accelerator platform where RMB are charged to make transaction confirmation faster. This is so ironic considering RMB is legal currency and bitcoin is decentralized.
READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
Yeah, i had to wait for around six days for my transaction to get confirmed due to low fees.The main feature of bitcoin,low transaction fees has been compromised.Here after, bitcoin might be liked for its other salient features and not for low transaction fees any more. READ more about this story at:
http://news.8btc.com/mining-pools-should-increase-blocksize-to-make-bitcoin-great-again
I hope also bitcoin prices at the current high prices should reduce transaction costs is good enough for the miners also benefit, but saw many full transaction as they make arrangements greater costs to more quickly get confirmation that really did not like it
I understand your point, but a higher price doesn't result in the fee to drop. Especially if you look how certain entities are trying to choke the network with rubbish transactions. It might be done to artificially push the transaction fees higher where some sort of an auction effect gets created (people outbidding each other with higher fees), or what I personally think, it's coming from an alternative side that just wants to make Bitcoin as it is look bad because it can't cope with all transactions.
I hope also bitcoin prices at the current high prices should reduce transaction costs is good enough for the miners also benefit, but saw many full transaction as they make arrangements greater costs to more quickly get confirmation that really did not like it
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Well, it's has been discussed in Reddit recently: https://www.reddit.com/r/btc/comments/5xhd1z/btccom_transaction_accelerator/. You're able to accelerate your transaction as long as you can pay the amounts given and then you'll get fast confirmation, even though it's just an optional for bitcoin users but still, it's against what people often said. " low costs for every transaction ". Just my 2 cents.
This is no different from paying more mining fees for priority transactions. Seriously with all the posts about scaling this is getting tiring
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