Why btc still slow and expensive ? | Bitcointalksearch.org

boyptc

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Quote from: ? on December 30, 2024, 11:26:52 AM

Bitcoin is slow and expensive it can be said at some point but it is actually not that expensive nowadays. This is because block signs in Bitcoin take a while to complete. Slower completion will make it more expensive up front.

Always check mempool.space.

The fees are not that much. We are getting 3 sats/vB for every transaction and that's the top priority and it only costs around $0.39 and that's quite high because the price of Bitcoin is above $90k.

And it will be more in $$$ if the price of BTC goes higher but that's okay, we're only looking at per sats/vB.

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

So in short you like a network which have a DPOS system where the Super Representatives will add the blocks and basically do the processing and they are only 27 correct me if I am wrong and they are elected by most votes while you don't like the network which is so decentralized that the miners can be many and none of them can do harm, like the spot is not limited. There are many limitations to TRX and you just can't compare it with BTC out of no where I don't like it you should also. But I still respect your ideology until you are not trying to shill TRX.

I don't like the founder of TRX as well. The fee is high due to congestion, and yesterday many whales bought and move their funds from here to there and that's why the congestion was there and hey it's bull run, this time of the cycle market suppose to be congested and the fee is normal to be high did you see the fee of ETH network?

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

You don't want to depend on miners? So who is going to mine Bitcoin and process transactions or you think validators of POS can mine and process Bitcoin transactions? They can't because Bitcoin remain Proof of work by design and by protocol. Just so you know, transitioning from proof of work to proof of stake doesn't make transaction faster, if it was I believe Ethereum network will be 10 times faster than the way it was in the proof of work.

If you eliminate miners and go to proof of stake, it doesn't change anything and Bitcoin supply is going to be tempered, you are going to be writing a new script for Bitcoin protocol because I don't know how you intend to mine the remaining Bitcoin that the miners will mine in order to provide security for Bitcoin network, don't forget that the network can easily be manipulated, you can't do that with proof of work mechanism because of the protocols that are fully embedded in it.

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

It doesn't seem slow and expensive if you mean the transactions. The fee per transaction for high priority is 3 sat/vB and the time difference between block 877235 to block 877236 which are the last two blocks I saw was only about 5 minutes and the fee is ~5 sat/vB.
BTC to PoS, is that true?

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

If you don't intend to do that then simply invest all your wealth in Tron and that solves the problem as you wish. But maybe other people's views are different from yours that's why we believe more in bitcoin as a way to protect the financial value we have so we decide to invest it. If because of the high cost issue it becomes a problem that is getting bigger as you see it, maybe it is only right that your wealth increases, then how are you now?

How far can you ensure the security and how it works as expected for Tron in particular, while in bitcoin there is the option to use the Lightning Network and whether that is still an issue in terms of costs and transaction processes for you.

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Quote from: TheUltraElite on December 31, 2024, 09:27:29 AM

Well difference in opinions is the root cause of why different religions exist and similarly different blockchain consensus mechanisms exist.

If you like Tron and its system go forward with it, why bother about bitcoin? Take what you like and be happy.

The fact that the users of this forum are here because they believe in Bitcoin's system does not make them good or bad to you, they are just another "religion" in that sense.

In fact we have so many altcoins out there, its almost like a paradise for users coming in to this financial sector.

In the cryptocurrncy, there's no discrimination, infact their are thousands of cryptocurrency out their and more are being created which gives people lots of options to pick. However the fact still remains that Bitcoin is the most superior cryptocurrency out their and like I said in a previous post it's second to none, it's the most used crypto currency for different use cases and it's because of how well it's developing that more people are beginning to embrace it but that doesn't mean that it's a must for everyone to participate in acquiring it, if anyone thinks that bitcoin is a waste of time due to the current value, then they should stick to what they feel is better. At this point I don't see any need to argue with anyone concerning which crypto is preferable, let everyone stick to what they feel is better, left for me I'm stuck with bitcoin cause I so much believe in it than any other cryptocurrency.

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Quote from: TheUltraElite on December 31, 2024, 09:27:29 AM

Well difference in opinions is the root cause of why different religions exist and similarly different blockchain consensus mechanisms exist.

If you like Tron and its system go forward with it, why bother about bitcoin? Take what you like and be happy.

The fact that the users of this forum are here because they believe in Bitcoin's system does not make them good or bad to you, they are just another "religion" in that sense.

In fact we have so many altcoins out there, its almost like a paradise for users coming in to this financial sector.

Everyone on the market (a coin, token, or a project tied to it) lack or is overjoyed with some key aspects that make a coin / project good or bad. And that's completely okay.
Bitcoin is the most secure and confident tool for investment (talking about what is happening to it currently) out there - even if the fees are sometimes high, nobody would take it from it. And it is still standing upon its ideals.

TheUltraElite

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Well difference in opinions is the root cause of why different religions exist and similarly different blockchain consensus mechanisms exist.

If you like Tron and its system go forward with it, why bother about bitcoin? Take what you like and be happy.

The fact that the users of this forum are here because they believe in Bitcoin's system does not make them good or bad to you, they are just another "religion" in that sense.

In fact we have so many altcoins out there, its almost like a paradise for users coming in to this financial sector.

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Bitcoin is slow and expensive it can be said at some point but it is actually not that expensive nowadays. This is because block signs in Bitcoin take a while to complete. Slower completion will make it more expensive up front.

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Miners has been able to clear huge Bitcoin transactions for years now so I wonder what transaction you talking about not trusting with miners. In between I just finished a Bitcoin transaction and the transaction was confirmed in a good time range, this has been the case for me this period I have not experienced any delay. I won't jump into conclusion to doubt you but I can vividly say that their has been lots of improvement on the time required for a transaction to go through. In between if you aren't aware you should research on bumping transaction fees

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

The slowness of BTC you are referring to actually depends on you to an extent and that is because for every Bitcoin transaction, there's a fee you pay and such fees also has a connection with the speed of the transaction so you cannot completely blame it on bitcoin itself but rather you will have to understand that even the tron transactions do come with a fee aswell which in a way affects the speed of the transaction and if ygvwt to check the meme pool, you get an idea into the fees applicable for instant payment and scheduled payment, it's all dependent and relative to you, so actually bitcoin has got an instant payment option but you will have to be able to afford it and this actually applies to every financial transactions.

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Quote from: dansus021 on December 30, 2024, 09:34:47 AM

if you said that tron is better than bitcoin use that tron for your transaction as simple as that here is the thing

do u ever heard the blocchain trillema "The blockchain trilemma refers to the challenge of achieving three critical aspects of blockchain technology: security, scalability, and decentralization. The trilemma suggests that optimizing one aspect often compromises the others, making it difficult to achieve all three simultaneously." https://www.coinbase.com/learn/crypto-glossary/what-is-the-blockchain-trilemma

Bitcoin is focusing on security and decentralization while the tron focus on scalability

You nailed it.
And each chooses what suits him best.
For some - fees and sheenanigans on TRON make it a case long gone (like for Fivestar4everMVP).
So he got rid of it and is happy. So should do everybody else making up their minds on both.

dansus021

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if you said that tron is better than bitcoin use that tron for your transaction as simple as that here is the thing

do u ever heard the blocchain trillema "The blockchain trilemma refers to the challenge of achieving three critical aspects of blockchain technology: security, scalability, and decentralization. The trilemma suggests that optimizing one aspect often compromises the others, making it difficult to achieve all three simultaneously." https://www.coinbase.com/learn/crypto-glossary/what-is-the-blockchain-trilemma

Bitcoin is focusing on security and decentralization while the tron focus on scalability

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Quote from: Fivestar4everMVP on December 30, 2024, 07:05:47 AM

Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Having used both Tron and bitcoin, sorry to say but I think Tron is one of the worst and most expensive blockchains to transaction on, forget every deceptive stuffs people say about Tron, I have used Tron blockchain for several years but in that second quarter of this year, I angrily decided to sell every single asset I had on Tron and swore never to touch or buy anything that is built on Tron.

Bitcoin is doing well, and stop dreaming when bitcoin will go pos, that will never happen as far as I know.
And as for the fees and speed, this two have always depended on how free or congested the network is, in times of congestion, fees go high and transactions confirmation becomes slower, in times like this, it is advised to choose and transact in alternative cryptocurrencies, so as to avoid having your fund stuck on the network for too long without confirmation or paying exorbitant fees.

What was the last straw on TRON for you? It would be interesting for me to hear your story and what pushed you so far.
Never used it though - never had a wish for that.

Fivestar4everMVP

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Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Having used both Tron and bitcoin, sorry to say but I think Tron is one of the worst and most expensive blockchains to transaction on, forget every deceptive stuffs people say about Tron, I have used Tron blockchain for several years but in that second quarter of this year, I angrily decided to sell every single asset I had on Tron and swore never to touch or buy anything that is built on Tron.

Bitcoin is doing well, and stop dreaming when bitcoin will go pos, that will never happen as far as I know.
And as for the fees and speed, this two have always depended on how free or congested the network is, in times of congestion, fees go high and transactions confirmation becomes slower, in times like this, it is advised to choose and transact in alternative cryptocurrencies, so as to avoid having your fund stuck on the network for too long without confirmation or paying exorbitant fees.

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Quote from: Darker45 on December 29, 2024, 08:51:54 PM

I guess it's true that we can't have the best of everything. There will be trade-offs. But comparing Tron with Bitcoin is like comparing shit with honey, respectively.

But, yeah, altcoins have roles to play in the crypto universe. If you want dirt cheap fees and almost instant confirmation for your small transactions, then there's a wide array of options out there. Tron isn't even at the top.

But if you talk of shifting to PoS because you don't trust miners, who do you trust? The whales? Many of them don't share the vision of Satoshi. They're fiat guys making money out of Bitcoin.

I see no reason why anyone would even want to compare Bitcoin with any other cryptocurrencies out there, Bitcoin is second to none and even though the transaction speed might not be very fast compared to the likes of Tron, Ton, Sol or so that got cheaper Tx fees, the security of Bitcoin blockchain is second to none and that's what makes it unique, I'm surprised that of all cryptocurrencies the OP chose Tron over BTC, because of Tx fees? He's not even bothered about the safety of his asset, he's not even bothered about the value of Bitcoin compared to Tron, Bitcoin has developed into something spectacular it's now in the assets class due to it's value, it's the future of financial freedom and not even those big whales that's currently making more wealth out of it would consider any other coin to Bitcoin, if Tron was that special as the OP thinks why ain't their big whales investing on it? Why do they fall back to Bitcoin for investment purpose? The least thing that would make me consider POS over POW is Tx speed and I'll choose bitcoin anytime regardless.

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Quote from: headingnorth on December 29, 2024, 05:40:46 AM

Very simple, because bitcoin prioritizes security over speed. That is why bitcoin has never been hacked.
You pay more for the miners to secure the network, which to me is more than worth it. As the saying goes, you get what you pay for.

Ethereum and the other shitcoins on the other hand, have been hacked countless times losing untold billions of dollars to hackers.
If you want cheap and fast, then don't expect a lot of security, and be prepared to lose all your funds.

Are you new to Bitcoin? Here are some notable events in its history that Bitcoiners often reflect on:

Bitcoin Inflation Bugs:
🔴 CVE-2010–5139 Bug (August 15, 2010):
This bug resulted in 184 billion BTC being minted. To address the issue, core developers Gavin Andresen and Satoshi Nakamoto rolled back the blockchain, removing the transaction from block 74638.

🔴 CVE-2018–17144 Bug (September 17, 2018):
Discovered by a Bitcoin Cash (BCH) developer, this bug was fixed before it could be exploited by malicious actors.

ref: medium.datadriveninvestor.com/itcoin-unhackable-it-happened-twice-not-blowing-smoke-9e16bcddd5ab

Downtime Events:
Bitcoin has experienced moments of downtime during its history:

🔴 August 15, 2010 (The Value Overflow Incident):
Bitcoin went down due to a critical bug (CVE-2010-5139), requiring swift action to secure the network.

🔴 March 11, 2013 (CVE-2013-3220):
This downtime was caused by a different bug, highlighting the challenges in maintaining the network.

ref:bitcoinuptime.com

By comparison, only BNbitcoin and Litecoin, have 100% uptime and no hacks.

Stop spreading inaccurate information. None of them allow direct hack to Bitcoin protocol/blockchain.

1. Solution to fix CVE-2010–5139 isn't rollback, but rather using new version of full node software which reject the invalid block. There's no code addition which enable rollback.
2. CVE-2013-3220 only affect Bitcoin-Qt (former name of Bitcoin Core). While it cause some block to be invalidated, it doesn't enable hack.
3. CVE-2018–17144 only affect Bitcoin Core software. Other full node software would detect the double-spend attempt and reject the block. In addition, some mining pool probably use their own custom full node software.

Some of those CVE also affect Litecoin, since Litecoin Core use Bitcoin Core's code. And any token/coin which use BSC network can't be decentralized, when BSC itself isn't decentralized.

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Quote from: NotATether on December 29, 2024, 09:50:34 AM

Quote from: Usdcboss on December 29, 2024, 04:53:53 AM

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc

You are wrong.

I just made a very large transaction this morning, and the fee was less than 50 cents.

Fees don't have to be fractions of a penny for transactions to be feasible. For most small players, it's fine. And the whales and big movers have the money to cover the fees for their (very large) transactions.

Fees only spike due to some events (Runes being in full swing) / due to the Bull / etc.
Otherwise - the fees are totally fine in my book.

Darker45

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I guess it's true that we can't have the best of everything. There will be trade-offs. But comparing Tron with Bitcoin is like comparing shit with honey, respectively.

But, yeah, altcoins have roles to play in the crypto universe. If you want dirt cheap fees and almost instant confirmation for your small transactions, then there's a wide array of options out there. Tron isn't even at the top.

But if you talk of shifting to PoS because you don't trust miners, who do you trust? The whales? Many of them don't share the vision of Satoshi. They're fiat guys making money out of Bitcoin.

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Quote from: Dr.Bitcoin_Strange on December 29, 2024, 11:33:37 AM

@OP, Bitcoin is not slow and the transaction fee is not also expensive, 3 days ago I did some Bitcoin transaction, the fee that was charged was $0.8 and didn't take more than 20 minutes to arrive. You can not compare Bitcoin transaction to that of other centralized altcoins whose daily transaction volume and value is not even half of Bitcoin daily transaction.

We should be realistic that when it comes to fees and transaction speed, bitcoin cannot compare to other altcoins even when the bitcoin network is at its best. But everything has its price, bitcoin is slower, more expensive but in return we will have a more decentralized, safe and secure network. Meanwhile, altcoins are faster, cheaper but they are centralized and less secure. There have been many altcoins hacked, outages but that never happened with bitcoin.

Everything has its price and nothing is 100% perfect, and as smart users, we need to be flexible in choosing each asset for each different use case.

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