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deisik

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Quote from: 1Referee on July 09, 2017, 10:23:09 AM

Quote from: deisik on July 08, 2017, 08:07:55 AM

I don't know whom you are talking about

But I think I made it pretty clear that I consider Bitcoin as a very risky asset right now (potentially turning into a toxic one in the near future), and presently I'm mostly in cash with part of my capital invested in Litecoin. So I actually put my money where my mouth is. For example, today I just missed buying a few more litecoins at a little below 44 dollars per coin. Somehow I expected the price to go a bit lower than that (likely to 40 dollars). And I have massive buy orders placed at prices below 35 dollars all the way down to 15 dollars though I don't think that the price is actually going to fall lower than 30 dollars any time soon. I'd rather expect it to surge to over 100 dollars in the next few months

Wow, lolz. I wasn't even referring to you (didn't even had you in mind), but yet I seem to have touched one of your sensitive spots. It's one of your habits to cut off a certain part of the text that people write, and then go in depth about why you do or do not agree with a certain statement.

This was the original statement;

Quote from: 1Referee on July 08, 2017, 06:36:35 AM

I have seen a large number of people 'threatening' to switch over to altcoins because they offer faster and cheaper confirmations

And this is how you bolded the part that you probably was fixated on.

Quote from: 1Referee on July 08, 2017, 06:36:35 AM

I have seen a large number of people 'threatening' to switch over to altcoins because they offer faster and cheaper confirmations

It was obviously clear that I was solely referring to those that are looking for faster and cheaper confimations.

That was one of the reasons why I switched to Litecoin eventually

I was looking for a cheap alternative to Bitcoin in respect to transferring value right after Coinbase introduced transaction fees (I also wrote about that a few times). I first thought about Dogecoin since it seemed to be the cheapest among more or less decent coins (in respect to fees), but it is not listed on major exchanges like Bitfinex or Btc-e, so I quickly discarded it. Then I tried Ethereum (when it was cheap yet), but I was scared off since I didn't quite understand how it worked. Exchanges were mentioning something about contracts which I didn't have a slightest clue about back then so I tried Litecoin next. People were overall contemptuous of it (just like you) since it was basically a Bitcoin copycat (which I essentially agree with), and at first I wasn't really going to use it for anything other than a vehicle for transferring value. Then the debates and quarrels about Bitcoin future started to escalate rapidly, and Litecoin had been updated to SW and LN (that was in April), so it struck me that if Bitcoin was going to bite the dust due to tensions rising, Litecoin could potentially take its place. Hope this helps

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Quote from: muf18 on July 08, 2017, 08:38:13 AM

Litecoin is the only alternative now for cheap transactions, I only made my transactions in LTC, because it uses 0.07-0.2USD fees, instead of 5-20$ of bitcoin.

There are cheapest fees: Right now I am thinking about Ripple, last time i tried I got $0.00X fees. There are surely others altcoins like this, Doge maybe? But anyway paying 10 cents or 20 cents for fees who gives a f**k to save pennies. No need to be always greedy. You can also pay a fee of 10 cents with bitcoin and get the transaction confirmed in decent time

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Quote from: madcoinfarmer on July 09, 2017, 10:34:54 AM

You know, everything changes. If in the beginning of Bitcoin-thing they needed to say "we don't have fees", but now, when Bitcoin is already a brand, they can take as much fees as they want. You should get even with it.

There were always fees, but very small ones. Current fees have nothing to do with "brand", they are caused by high transaction volumes.

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Quote from: Lizzie_Girl on June 06, 2017, 04:37:26 PM

I don't even understand what is going on. I sent 0.015 btc and paid close to 0.004 fee and still I wait after weeks. Yobit days it's coming through it's in the blockchain but nothing. Very annoying. 0.004 is $10 wtf. That's just under 30% of what I'm sending.

You paid such high fee and waiting for the transaction to be approved for weeks? It's just strange. With such high fee everything should be managed in a moment. Is there any information about "avaiting deposit" on that place where you have sent your founds?

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You know, everything changes. If in the beginning of Bitcoin-thing they needed to say "we don't have fees", but now, when Bitcoin is already a brand, they can take as much fees as they want. You should get even with it.

AGD

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OP is wrong.
Fees are low and this topic is outdated.

1Referee

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Quote from: deisik on July 08, 2017, 08:07:55 AM

I don't know whom you are talking about

But I think I made it pretty clear that I consider Bitcoin as a very risky asset right now (potentially turning into a toxic one in the near future), and presently I'm mostly in cash with part of my capital invested in Litecoin. So I actually put my money where my mouth is. For example, today I just missed buying a few more litecoins at a little below 44 dollars per coin. Somehow I expected the price to go a bit lower than that (likely to 40 dollars). And I have massive buy orders placed at prices below 35 dollars all the way down to 15 dollars though I don't think that the price is actually going to fall lower than 30 dollars any time soon. I'd rather expect it to surge to over 100 dollars in the next few months

Wow, lolz. I wasn't even referring to you (didn't even had you in mind), but yet I seem to have touched one of your sensitive spots. It's one of your habits to cut off a certain part of the text that people write, and then go in depth about why you do or do not agree with a certain statement.

This was the original statement;

Quote from: 1Referee on July 08, 2017, 06:36:35 AM

I have seen a large number of people 'threatening' to switch over to altcoins because they offer faster and cheaper confirmations

And this is how you bolded the part that you probably was fixated on.

Quote from: 1Referee on July 08, 2017, 06:36:35 AM

I have seen a large number of people 'threatening' to switch over to altcoins because they offer faster and cheaper confirmations

It was obviously clear that I was solely referring to those that are looking for faster and cheaper confimations.

deisik

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Quote from: Vishnu.Reang on July 08, 2017, 10:03:05 AM

Quote from: deisik on July 08, 2017, 09:24:04 AM

I was telling people to buy Litecoin when it had been well below 30 dollars per coin

My reasoning is in fact quite simple. If Bitcoin is set to kick the bucket (we will learn that in a couple of weeks), Litecoin is likely to take its place (basically, it is the same Bitcoin but with its issues already fixed). So Litecoin seems to be a pretty obvious choice. Ethereum is a scam created specifically to push other scams (known as ICO's), Ripple is a corporate coin with heavy premine (basically, the same scam as Ethereum), the rest are not known to me. You could buy Litcoin today as low as 44 dollars at Bitfinex (one of my buy orders got triggered at 43.7)

Hmmm... I have also noticed one important thing about LTC. When BTC goes down, most of the other alts also go down. But not Litecoin. I have noticed this at least 3-4 times in the past. The Litecoin exchange rates are not very dependent on the BTC prices

This tendency has emerged only recently. In the past (i.e. a few months ago and before that), Litecoin had been following Bitcoin's lead like it was on a leash (aside from short-lived pumps and dumps). Now it's got unleashed. This hasn't yet become a rule since last time when Bitcoin went down over 400 dollars, Litecoin seriously dropped too (so we are not there yet). But if things continue to develop along this path, more and more people will start looking into this coin since in that case it will offer larger profits at a greater consistency (something which only Bitcoin had been enjoying in the past). Though I don't know what this has to do with transaction fees but Litecoin's transaction fees are certainly way cheaper than Bitcoin's

And they will likely remain cheap in the future

audaciousbeing

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Its just so annoying that it has gotten to this point just not too long ago I want to make some transfer and I have to part away with over $40 as fees if I want my transaction to confirm within the hour compared to less than 5$ which might even take forever, this is really annoying that I had to just shelve the idea and either way it will reduce the market capitalization considering the total number people who took the same decision as mine due to the high rate of fees we have to face these days and hopefully this can come to a logical conclusion from August 1 implementation.

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Quote from: TGJJ on June 07, 2017, 02:01:37 PM

One of the main unique selling points of btc is now massive liability, and has been for years.

Its rendered btc useless for most commerce transactions, as the majority of transactions made in business are small

you mean the size of the transaction in byte or in btc? i think the size in byte is on average high, and the size in bitcoin is high because no people will send few satoshi just to lose the transaction on fee, people ar enow doing high bitcoin transaction to have amrgin on fee

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Quote from: deisik on July 08, 2017, 09:24:04 AM

I was telling people to buy Litecoin when it had been well below 30 dollars per coin

My reasoning is in fact quite simple. If Bitcoin is set to kick the bucket (we will learn that in a couple of weeks), Litecoin is likely to take its place (basically, it is the same Bitcoin but with its issues already fixed). So Litecoin seems to be a pretty obvious choice. Ethereum is a scam created specifically to push other scams (known as ICO's), Ripple is a corporate coin with heavy premine (basically, the same scam as Ethereum), the rest are not known to me. You could buy Litcoin today as low as 44 dollars at Bitfinex (one of my buy orders got triggered at 43.7)

Hmmm... I have also noticed one important thing about LTC. When BTC goes down, most of the other alts also go down. But not Litecoin. I have noticed this at least 3-4 times in the past. The Litecoin exchange rates are not very dependent on the BTC prices.

zevtev9

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There are technical difficulties for that, increasing the block size seems simple and reasonable but that would require changing the whole bitcoin system to implement it in a wallet and would require every wallet/Blockchain etc... to have some change in it and that SHOULD be very difficult.

deisik

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Quote from: Netnox on July 08, 2017, 08:11:28 AM

Quote from: deisik on July 08, 2017, 08:07:55 AM

I don't know whom you are talking about

But I think I made it pretty clear that I consider Bitcoin as a very risky asset right now (potentially turning into a toxic one in the near future), and presently I'm mostly in cash with part of my capital invested in Litecoin. So I actually put my money where my mouth is. For example, today I just missed buying a few more litecoins at a little below 44 dollars per coin. Somehow I expected the price to go a bit lower than that (likely to 40 dollars). And I have massive buy orders placed at prices below 35 dollars all the way down to 15 dollars though I don't think that the price is actually going to fall lower than 30 dollars any time soon. I'd rather expect it to surge over 100 dollars in the next few months

That is interesting. Could you please tell me the reasons why you chose Litecoin over the other alts (such as Ethereum, Ripple, Nemcoin, Stellar Lumens, and ETH Classic)? LTC is a bit too expensive now (it is trading at almost BTC0.02 per coin), and I am a bit afraid to purchase it at the current prices

I was telling people to buy Litecoin when it had been well below 30 dollars per coin

My reasoning is in fact quite simple. If Bitcoin is set to kick the bucket (we will learn that in a couple of weeks), Litecoin is likely to take its place (basically, it is the same Bitcoin but with its issues already fixed). So Litecoin seems to be a pretty obvious choice. Ethereum is a scam created specifically to push other scams (known as ICO's), Ripple is a corporate coin with heavy premine (basically, the same scam as Ethereum), the rest are not known to me. You could have bought Litecoin today as low as 44 dollars at Bitfinex (one of my buy orders got triggered at 43.7)

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Quote from: PELELE on July 08, 2017, 08:53:30 AM

Many people particular about Transaction fees in today's market. Compare to other payment gateways and banking transactions, bitcoin transaction fees are normal and reasonable.

it is because transaction fees has been very low recently. and also it is because they have gone up because of the fact that miners has been postponing activation of segwit and allowing us to scale up bitcoin.

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Many people particular about Transaction fees in today's market. Compare to other payment gateways and banking transactions, bitcoin transaction fees are normal and reasonable.

muf18

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Litecoin is the only alternative now for cheap transactions, I only made my transactions in LTC, because it uses 0.07-0.2USD fees, instead of 5-20$ of bitcoin.
Also Litecoin is the second most widely accepted crypto in the world. It's on the most exchanges, since it's almost the same as BTC, and in 2013 after great pump, most of exchanges start to accepted for fiat currencies across the world. I missed the opportunity (I knew that LTC will go up, thought I didn't know so fast) in march this year, when I wanted to buy for 4$, and predicted to be traded for 50$ in future (to reply great pump of 2013-14)

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Perhaps it is too optimistic forecast. It has long been rumored that the government will start to legalize bitcoin. If we assume that it does happen then the demand for bitcoin may increase and this will cause the outflow of investments from altcoins that will lead to a drop in their prices.

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Quote from: deisik on July 08, 2017, 08:07:55 AM

I don't know whom you are talking about

But I think I made it pretty clear that I consider Bitcoin as a very risky asset right now (potentially turning into a toxic one in the near future), and presently I'm mostly in cash with part of my capital invested in Litecoin. So I actually put my money where my mouth is. For example, today I just missed buying a few more litecoins at a little below 44 dollars per coin. Somehow I expected the price to go a bit lower than that (likely to 40 dollars). And I have massive buy orders placed at prices below 35 dollars all the way down to 15 dollars though I don't think that the price is actually going to fall lower than 30 dollars any time soon. I'd rather expect it to surge over 100 dollars in the next few months

That is interesting. Could you please tell me the reasons why you chose Litecoin over the other alts (such as Ethereum, Ripple, Nemcoin, Stellar Lumens, and ETH Classic)? LTC is a bit too expensive now (it is trading at almost BTC0.02 per coin), and I am a bit afraid to purchase it at the current prices.

deisik

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Quote from: 1Referee on July 08, 2017, 06:36:35 AM

Quote from: mayax on June 07, 2017, 02:22:19 PM

why do you still use BTC while other e-currencies are MUCH cheaper?

I have seen a large number of people 'threatening' to switch over to altcoins because they offer faster and cheaper confirmations, but these people are not backing up their words by any actions. It's just an empty threat. The reason that most of the altcoins offer faster and cheaper confirmations, is that their networks barely enjoy any sort of significant usage, like is the case with Bitcoin. Just look at what happened with Ethereum. Ether has been facing some serious network difficulties, as it couldn't cope with the increased demand. In other words, every altcoin that at some point ends up experiencing a decent bit of usage, will go through the same difficulties. People however don't seem to realize this. Roll Eyes

I don't know whom you are talking about

But I think I made it pretty clear that I consider Bitcoin as a very risky asset right now (potentially turning into a toxic one in the near future), and presently I'm mostly in cash with part of my capital invested in Litecoin. So I actually put my money where my mouth is. For example, today I just missed buying a few more litecoins at a little below 44 dollars per coin. Somehow I expected the price to go a bit lower than that (likely to 40 dollars). And I have massive buy orders placed at prices below 35 dollars all the way down to 15 dollars though I don't think that the price is actually going to fall lower than 30 dollars any time soon. I'd rather expect it to surge to over 100 dollars in the next few months

reflector

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Quote from: Renji Abarai on July 08, 2017, 06:41:59 AM

Quote from: 1Referee on July 08, 2017, 06:36:35 AM

Quote from: mayax on June 07, 2017, 02:22:19 PM

why do you still use BTC while other e-currencies are MUCH cheaper?

I have seen a large number of people 'threatening' to switch over to altcoins because they offer faster and cheaper confirmations, but these people are not backing up their words by any actions. It's just an empty threat. The reason that most of the altcoins offer faster and cheaper confirmations, is that their networks barely enjoy any sort of significant usage, like is the case with Bitcoin. Just look at what happened with Ethereum. Ether has been facing some serious network difficulties, as it couldn't cope with the increased demand. In other words, every altcoin that at some point ends up experiencing a decent bit of usage, will go through the same difficulties. People however don't seem to realize this. Roll Eyes

That is true sir. Some are hating bitcoin because of this speed but is it really a good alternative? Maybe like in other altcoins, its faster but when it has many user, will it be the same? Its correct also regarding with Ethereum, that is why some ICO's are moving to waves since it is still new. Transaction fees in bitcoin is affordable. If you are in hurry, then you can increase the fees its understand. There is also standard fees but of course, you have to wait until your turn to be processed.

I checked that recent days fees seems revised on most the of the online wallet also. Moving to altcoins will destroy the bitcoin's place in future. Since they are also using the blockchain technology to create a new ICOs.
If you move that alts and reduce the supply of bitcoin by just holding it will take bitcoin fees to high rate only. Please use whenever you can.

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