Unconfirmed Transactions --> Over 200,000 --> That's the death of Bitcoin - page 2.

legendary

Activity: 1288

Merit: 1087

Quote from: stevegee58 on December 07, 2017, 03:40:16 PM

You're absolutely right. The *core* devs can't seem to address the block size issue but the 2 hard forks *did* address the issue. Unfortunately the miner community seems resistant to shifting to one of the hard forks. So they stick with core bitcoin which has no good path forward.

the path forward is about to happen with the lightning network. there are multiple versions that might go live next year. if they're a miserable failure then yep people have the right to lose faith. and it would help if businesses and wallets introduced segwit but even core haven't done that for their wallet.

Jet Cash

legendary

Activity: 2744

Merit: 2462

https://JetCash.com

Quote from: Get-Paid.com on December 07, 2017, 03:16:25 PM

By all means feel free, Bitcoin is just proving to be useless time and time again, and yet the only reason people buy it is because of global acceptance. It has a very bad long run or long term ... it's just a matter of time until people would realize it's not a currency but a pure investment that is not worth it.

I love that statement - " the only reason people buy it is because of global acceptance". I must confess that that is one of the reasons that I acquire Bitcoin. Global acceptance of the US dollar is in decline, I guess that is the reason that countries are moving to the Petro-Yuan and the Petro-Ruble.

If you don't like Bitcoin, then don't buy it - it's as simple as that. I don't like Coke or other fizzy drinks, so I don't buy them, despite the fact that they seem to hve global acceptnce.

Kirias

newbie

Activity: 23

Merit: 0

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Yeah... Sure. I dont think so Roll Eyes

stevegee58

legendary

Activity: 916

Merit: 1003

Quote from: Get-Paid.com on December 07, 2017, 03:36:28 PM

Quote from: stevegee58 on December 07, 2017, 03:35:15 PM

Nah, it's not the death to Bitcoin, just a wake-up call.
The Core devs need to get serious about the block size issue. 2 recent opportunities to address this were rejected. I think it's time to revisit the issue and adopt one of the solutions.

So Bitcoin is centralized then?
Who are the "core devs"? They are the decision makers for Bitcoin?

Thought Bitcoin was de-centralized.

You're absolutely right. The *core* devs can't seem to address the block size issue but the 2 hard forks *did* address the issue. Unfortunately the miner community seems resistant to shifting to one of the hard forks. So they stick with core bitcoin which has no good path forward.

freecastle

member

Activity: 71

Merit: 10

a ponzi who can bring back a lot of money if we retire in time.

Gabb

full member

Activity: 392

Merit: 105

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Without a doubt, it is a problematic issue but it does not have to mean the death of bitcoin. There are real options to solve this situation but only enough consensus is required to solve it.

But in addition, people should be aware that bitcoin is no longer the ideal currency to buy cigarettes or pizzas. There are hundreds of altcoins that can work perfectly to cover our daily expenses. We must start to see bitcoin as the digital gold that it really is and try to avoid its use in futile transactions that only congest the network.

TheBitcoinBoy

full member

Activity: 236

Merit: 100

Quote from: jc89 on December 07, 2017, 03:23:18 PM

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Seriously? Having more than 200k unconfirmed transactions means it's a ponzi? Means that it's dead? It's better to stop weeds while it's still early mate.
We've been in this situation many times before and where is Bitcoin now? Still running and kicking right? This statement just made yours void. Stop spreading FUDs, it won't do anything.

That doesn't mean its a ponzi or dead. It is just not practical for businesses.

Get-Paid.com

sr. member

Activity: 1842

Merit: 389

Quote from: stevegee58 on December 07, 2017, 03:35:15 PM

Nah, it's not the death to Bitcoin, just a wake-up call.
The Core devs need to get serious about the block size issue. 2 recent opportunities to address this were rejected. I think it's time to revisit the issue and adopt one of the solutions.

So Bitcoin is centralized then?
Who are the "core devs"? They are the decision makers for Bitcoin?

Thought Bitcoin was de-centralized.

stevegee58

legendary

Activity: 916

Merit: 1003

Nah, it's not the death to Bitcoin, just a wake-up call.
The Core devs need to get serious about the block size issue. 2 recent opportunities to address this were rejected. I think it's time to revisit the issue and adopt one of the solutions.

Get-Paid.com

sr. member

Activity: 1842

Merit: 389

Quote from: European Central Bank on December 07, 2017, 03:30:34 PM

if any coin overtakes bitcoin it's gonna have the exact same problem. nothing scales. or rather nothing i'd trust with any actual money.

Ripple doesn't have this problem because it takes micro seconds for a Ripple transaction to get approved/sent/processed.

Get-Paid.com

sr. member

Activity: 1842

Merit: 389

Quote from: tomahawk9 on December 07, 2017, 03:18:48 PM

Nice try, but no.
A lot of people said the same thing when the network was getting spam with extremely low-fee tx a month ago and we saw almost 230k unconfirmed transactions. Guess what happened...nothing. The backlog was cleared in a matter of days and was followed by a new ATH.
Thank you for making me laugh, though. Now take your FUD someplace else.

What you describe a month ago was the segwit fork speculation - and some claimed it was BCH miners who pushed lots of micro transactions.

What you experience now is HYPE.
This is not a group of BCH miners now, it's the entire world!

Ponzi Scheme = Hype

And...

Quote from: Get-Paid.com on December 07, 2017, 03:16:25 PM

Oh, and check this:
https://twitter.com/i/web/status/938781235417178112

Did you bother looking at this?
Normal businesses are suffering from it.
Genuine users of Bitcoin who want to use it as currency are suffering from the current situation.

Will this be fixed? Maybe... but if not then expect a good explosion.

European Central Bank

legendary

Activity: 1288

Merit: 1087

nearly twenty thousand dollars per coin. oh the humanity. yep. it's toast.

you're aware that unconfirmed transactions are a fluid thing and they even go down sometimes? get your head out of your ass and look at the bigger picture.

if any coin overtakes bitcoin it's gonna have the exact same problem. nothing scales. or rather nothing i'd trust with any actual money.

chukaday

full member

Activity: 210

Merit: 104

⚡ Property-secured P2P lending ⚡

Damn I didn't realize it was that high I thought we had fixed this problem back in August? Why not make block sizes bigger thus putting an end to how many transactions can occur. Bitcore has 20MB block sizes which can handle 48 million transactions in a day. Surely if they can get this right Bitcoin Core with its devs and billions of dollars can too?

spngebob

sr. member

Activity: 770

Merit: 254

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Not the first time and probably not the last time.
Unconfirmed transactions are not making bitcoin ponzi, please stop writing such nonsense.
Is it in bubble - imo yes, ponzi - no. Difference is huge.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Within a year's time we'll get a decent implementation of the lightning network, that will certainly allow people to use Bitcoin for microtransactions.
It's closer than you think! Source: https://www.coindesk.com/lightning-last-test-shows-bitcoin-scaling-solution-almost-ready/

I think miners are temporarily switching over to BCH, but I'm not completely sure.
This backlog will be gone in a few days though.

The only thing I could find about the mempool being full was this:
http://www.newsbtc.com/2017/12/07/bitcoin-mempool-fills-despite-rise-hashrate/

Anyway, it's just temporary. You can also use a segwit address to reduce fees btw.

pri3oner

full member

Activity: 504

Merit: 100

Bitgesell (BGL) Decentralized Cryptocurrency!

Quote from: jc89 on December 07, 2017, 03:23:18 PM

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Seriously? Having more than 200k unconfirmed transactions means it's a ponzi? Means that it's dead? It's better to stop weeds while it's still early mate.
We've been in this situation many times before and where is Bitcoin now? Still running and kicking right? This statement just made yours void. Stop spreading FUDs, it won't do anything.

This guy made it clear, so yeah, chillax. Make money till we are able to.

jc89

sr. member

Activity: 364

Merit: 250

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Seriously? Having more than 200k unconfirmed transactions means it's a ponzi? Means that it's dead? It's better to stop weeds while it's still early mate.
We've been in this situation many times before and where is Bitcoin now? Still running and kicking right? This statement just made yours void. Stop spreading FUDs, it won't do anything.

tomahawk9

hero member

Activity: 2086

Merit: 994

Cats on Mars

Quote from: Get-Paid.com on December 07, 2017, 02:56:26 PM

So many people are rushing to get a fraction of the hype, unaware of this:

https://blockchain.info/unconfirmed-transactions

Over 200,000 transactions are UNCONFIRMED.

It has become a 100% Ponzi Scheme now.
Bitcoin is on its way to the grave.

Nice try, but no.
A lot of people said the same thing when the network was getting spam with extremely low-fee tx a month ago and we saw almost 230k unconfirmed transactions. Guess what happened...nothing. The backlog was cleared in a matter of days and was followed by a new ATH.
Thank you for making me laugh, though. Now take your FUD someplace else.

Get-Paid.com

sr. member

Activity: 1842

Merit: 389

Quote from: stompix on December 07, 2017, 03:10:05 PM

Funny how this is probably the 200k time Bitcoin was confirmed dead. (or a ponzi scheme)
We have seen worse and nothing happened, and the volume is normal as people rush to exchanges and are bringing coins to light.

And more important, are you going to open a thread a day about the "imminent" bitcoin death?
Just to make sure so I can add you in advance to the ignore list with no regrets whatsoever.

By all means feel free, Bitcoin is just proving to be useless time and time again, and yet the only reason people buy it is because of global acceptance. It has a very bad long run or long term ... it's just a matter of time until people would realize it's not a currency but a pure investment that is not worth it.

Oh, and check this:
https://twitter.com/i/web/status/938781235417178112

Businesses would soon realize Bitcoin cannot be trusted for time sensitive nor for micro transactions.

Spaffin

full member

Activity: 1316

Merit: 108

Many have long raised the question about the technological aging of the original bitcoin. One of his serious shortcomings was always called slow transactions. If now the number of suspended transactions is 200,000, this is already a serious problem. Bitcoin is programmed to conduct no more than seven transactions per second around the world. With the increase in demand for it, the number of transactions is constantly increasing, but the capacity of bitkoyn remains too small. Apparently, people in the future will switch to cashmoney and other clones that have separated from him recently, which do not have such problems. If the original bitcoin does not solve these problems in the near future, he will slowly lose his place as the leader of the crypto currency.

Topic: Unconfirmed Transactions --> Over 200,000 --> That's the death of Bitcoin - page 2. (Read 1396 times)