Topic: Why btc still slow and expensive ? (Read 684 times)
The PoW process is especially used in cryptocurrencies like Bitcoin. This process keeps the blockchain secure. In the PoW process, the decision-making power of the blockchain is divided among many miners, so it is not under the control of a single party. It is a completely decentralized system. No one can control it alone. But PoS can maintain the advantages of fast transactions and energy efficiency. However, this method can sometimes create the risk of centralization because in this method, large stake holders get more control over the network.
Any cryptocurrency has parameters such as security, decentralization and transaction speed.
In practice, only two of these parameters can be improved. Improving all three at the same time is impossible. No one can create a perfect cryptocurrency. It is impossible.
The value of Bitcoin is in its decentralization and security. Transaction speed is not that important. Bitcoin allows you to transfer large amounts of money over long distances. Bitcoin allows you to own and manage funds without the mediation of other people. Bitcoin allows you to conduct transactions without censorship....
Isn't that enough?
With Bitcoin, you will never face a situation where your funds are blocked by financial intermediaries. And in the modern financial system, such situations happen all the time.
In practice, only two of these parameters can be improved. Improving all three at the same time is impossible. No one can create a perfect cryptocurrency. It is impossible.
The value of Bitcoin is in its decentralization and security. Transaction speed is not that important. Bitcoin allows you to transfer large amounts of money over long distances. Bitcoin allows you to own and manage funds without the mediation of other people. Bitcoin allows you to conduct transactions without censorship....
Isn't that enough?
With Bitcoin, you will never face a situation where your funds are blocked by financial intermediaries. And in the modern financial system, such situations happen all the time.
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
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
Yeah, Bitcoin's speed and fees are a total bummer, right? It's like waiting in line at the DMV, but with way higher stakes! Tron's speed is definitely tempting, but remember, speed isn't everything. Think of it like a sports car versus a tank , one's flashy, the other's built to last and withstand a nuclear apocalypse, hopefully
Bitcoin's slowness comes from its security model and it's designed to be super secure, which means more verification steps. Improving that speed without compromising security is a HUGE challenge. So for me The whole miners thing is a valid concern. It's a bit like trusting your bank, but with a distributed system of heavily motivated people , so that is all I have to say
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
There was a time when Bitcoin was sent at an instant, the same goes for some of the altcoins out there like ETH and a couple of them. Even the fees in these times were relatively low, perhaps low in value as they didn’t worth much at the time but, most of us were yet to take up cryptocurrency investments so, we just didn’t get to experience it.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
What does that mean?
It simply means, the more the currency and its Blockchain continues to offer solutions, exists longer and have projects built on them, the more it’s got a lot to do and the network is burdened with tasks. This has lead to several chains being developed such as the Tron project you now mention. It doesn’t mean it wouldn’t get slow or the fees wouldn’t see significant increase.
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.
When the price of Bitcoin was low, many people were still calling it a scam. Now that the price looks expensive, many are now seeing it as a potential project that could yield a lot of money for the big firms and companies. We should not always act like the ignorant ones because there are more to what we are seeing right now. The price could look somehow expensive now but what about in the future. Is the price going to depreciate drastically or continue to increase in price. If we can buy now and hold, we would know that nothing is too expensive. If the price is expensive now, we should expect the price to shoot up more in the next few years coming. hero member
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Because as far as I know Bitcoin transactions is always fast and reliable it doesn't take much time, so comparing it with others can make one to lose interest in Bitcoin.
Transaction on other network might be faster or could have low fee but Bitcoin is decentralized and Bitcoin has lot of transaction going on the network, so to get your transaction delivered fast, you will have to increase the transaction fee or if you also want a fast transaction, you could open your own node and start processing your transaction.
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You raise valid points about Bitcoin's transaction speed and fees. It's true that Tron, for example, offers faster transactions. However, Bitcoin's security and decentralization are its strengths. Think of it like this speed and low cost often come at the cost of security. Bitcoin prioritizes security, which is why it might be slower and more expensive sometimes.
The Lightning Network is a crucial tool for reducing transaction costs on Bitcoin. It allows for transactions outside the main Bitcoin blockchain, which significantly reduces fees and speeds up processing. This is definitely something to look into if you're concerned about costs.
Moving to Proof of Stake would fundamentally alter Bitcoin, and that's a complex change with its own set of trade offs. It's about weighing the benefits of speed and lower fees against Bitcoin's inherent security and decentralization. Many people value that security and trust.
Ultimately, the choice is yours. Consider your priorities and do your own research. Both Bitcoin and Tron, and other cryptocurrencies, have their own strengths and weaknesses.
If Op can understand this well, there might be a conclusion that he can draw based on the ongoing discussion and I see something valuable must be sacrificed at a higher cost because security is a step that does need to be considered before someone is involved in an investment or transaction that is taking place. You added a fairly accurate analogy and maybe a little easier to understand and a series of processes that occur should be an option when he wants to choose to do something based on the cost or level of security.The Lightning Network is a crucial tool for reducing transaction costs on Bitcoin. It allows for transactions outside the main Bitcoin blockchain, which significantly reduces fees and speeds up processing. This is definitely something to look into if you're concerned about costs.
Moving to Proof of Stake would fundamentally alter Bitcoin, and that's a complex change with its own set of trade offs. It's about weighing the benefits of speed and lower fees against Bitcoin's inherent security and decentralization. Many people value that security and trust.
Ultimately, the choice is yours. Consider your priorities and do your own research. Both Bitcoin and Tron, and other cryptocurrencies, have their own strengths and weaknesses.
Changing or switching to Proof of Stake will create a different side and that is not the purpose of bitcoin, then why debate the issue of transaction costs or security levels if bitcoin itself is considered a fairly valuable asset and the costs incurred to carry out transactions should not be a big problem. On the other hand, there are ways that can be used as steps to maximize the costs required when people understand the use of the Lightning Network as an option.
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
What really led you to open this thread this time, when fees are super low? Recommended fees for getting confirmation in the next block have been between 2-7 sat/vByte for last weeks or months.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
Bitcoin doesn't need to move on POS to have instant transactions. Bitcoin needs to increase the block size and decrease the time that miners need to mine a block but keep in mind that this is a very serious change to the network, Bitcoin isn't ready for that and was never designed for that. If you want instant confirmations, you need to use other coins but keep in mind that it comes with the price, they are mostly centralized.
You can use Lighting Network, test it yourself, it's instant and cheap.
@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.
You are absolutely correct, that is the real truth about it because few days ago I also did some transactions on Bitcoin and the fee was just normal. So I don't see any reason why one would compared Bitcoin transaction with other cryptocurrencies.Because as far as I know Bitcoin transactions is always fast and reliable it doesn't take much time, so comparing it with others can make one to lose interest in Bitcoin.
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.
Why that's okay? most people judge the transactions fees in $ instead of BTC, that's why many people said it's expensive because they can use other chains which make them only pay $0.001 or less no matter how huge the coins they sent.We can't do anything with it and it's even going to be way above than what we're seeing right now in the future.
Say, Bitcoin reaches $500k and a 1 sat(0.00000001)/vB will be valued at $0.005/vB so, it's still less. And right now, we've got 2 sats/vB which is valued at $0.27. Correct me if my calculations are wrong.
The congestion of the network is always a factor to remember.
Bull cycles and the like of Runes and projects like it pump up the fees pretty high up there - but they then die down eventually.
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
Your concern is genuine but I don't think there is a solution to this if Bitcoin should continue to maintain its decentralised nature. Bitcoin needs more compromise and scalability to attain higher speed and low fees, and also be integrable with other tokens and projects. But we should think of many issues that may arise, including security.Quote
Whos fixing that and what could be improved ?
Miners will vote for developers to work on it. This, I see as not preaching inclusivity. Every willing Bitcoin HODLer should be able to vote.Quote
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 Bitcoin moves from POW to POS, it's those big miners who will still dominate. They have the money and experience already. 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?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
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.
The Lightning Network is a crucial tool for reducing transaction costs on Bitcoin. It allows for transactions outside the main Bitcoin blockchain, which significantly reduces fees and speeds up processing. This is definitely something to look into if you're concerned about costs.
Moving to Proof of Stake would fundamentally alter Bitcoin, and that's a complex change with its own set of trade offs. It's about weighing the benefits of speed and lower fees against Bitcoin's inherent security and decentralization. Many people value that security and trust.
Ultimately, the choice is yours. Consider your priorities and do your own research. Both Bitcoin and Tron, and other cryptocurrencies, have their own strengths and weaknesses.
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.
Why that's okay? most people judge the transactions fees in $ instead of BTC, that's why many people said it's expensive because they can use other chains which make them only pay $0.001 or less no matter how huge the coins they sent.We can't do anything with it and it's even going to be way above than what we're seeing right now in the future.
Say, Bitcoin reaches $500k and a 1 sat(0.00000001)/vB will be valued at $0.005/vB so, it's still less. And right now, we've got 2 sats/vB which is valued at $0.27. Correct me if my calculations are wrong.
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I don't like Tron, the chain is expensive for TRC-20 tokens, it's only cheap for Tron. The supply is unlimited, this make Tron will be worthless and it's not good to hold it because the token can be manipulated by Justin Sun.
As I understand it, OP is complaining about expensive transactions and the level of security of the process that occurs in bitcoin but he missed something that can be used regarding the Lightning Network or cold wallets for asset security issues. Tron itself is not very safe to store and maybe as you said can be manipulated.And it will be more in $$$ if the price of BTC goes higher but that's okay, we're only looking at per sats/vB.
Why that's okay? most people judge the transactions fees in $ instead of BTC, that's why many people said it's expensive because they can use other chains which make them only pay $0.001 or less no matter how huge the coins they sent.
I don't like Tron, the chain is expensive for TRC-20 tokens, it's only cheap for Tron. The supply is unlimited, this make Tron will be worthless and it's not good to hold it because the token can be manipulated by Justin Sun.
And it will be more in $$$ if the price of BTC goes higher but that's okay, we're only looking at per sats/vB.
Why that's okay? most people judge the transactions fees in $ instead of BTC, that's why many people said it's expensive because they can use other chains which make them only pay $0.001 or less no matter how huge the coins they sent. 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.
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.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
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?
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
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.
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
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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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?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
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.
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. 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.
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.
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.
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.
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.
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.
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 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
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. 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 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
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.
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
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
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.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
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.
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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.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
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.
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. 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.
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: 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.
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.
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.
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.
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.
@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.
Well, just like with anything, Rome wasn’t built overnight. It took the cypherpunks how long just to solve the double spending issue. I mean, that was the key hangup for I believe a couple decades. So it just goes to show how difficult it is to build code/cryptography in an efficient manner. I think we have a good dev team, but yeah, it does seem like It’s taking its time
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
Been hearing this for years. "BTC sucks", "BTC's fee too expensive" "BTC's speed is too slow". Do not compare BTC with any other altcoins that you think is faster than it. Given that feature is faster but Bitcoin nowadays is more of an asset and a store of value.
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 devs are there and, you said BTC to POS? Come on, BTC isn't premined unlike those altcoins that has been premined by the devs of it. Never compare that to any altcoin. 
This may vary depending on your use case. For micro-payments, you can use other fast altcoins like Tron or Doge. However, I wouldn’t trust these coins for wealth preservation.
Which is actually the reason why the majority prefers Bitcoin to 'em shit coins.. somebody saying "it's wayyy too slow, and sometimes, it could be bumpy that the transactions gets stacked up in the mempool, you gotta wait for days for a confirmation"Truth is, we've got a couple of other ways to purge a transaction, why are they not informed? .. Because they in a haste to make some bucks, but they don't wanna learn.
I mean I got my transaction stuck in the mempool a couple of times, but the first time it happened, I had to create a thread in here... So, I don't understand why people go into things they don't really know. I mean, I did the same thing but the difference was that I was able to accept the fact that I was dump and needed a alot of orientational grooming.
Op sounds like he's been a bit frustrated through the process, but that's no one's fault but his.
BTC doesn't allow to use and create smart contracts either or very basic ones unlike most other popular blockchains unfortunately, and its layer 2 network (Lightning Network) is way less easy and reliable to use than most of other cryptos. So I think BTC will lose dominance and market shares step by step in the coming years when people will start to really use cryptos for paying and doing things, instead of just holding them in their wallets or on exchanges. When transaction fees spike a bit, onchain BTC become useless for small transaction, while for fast ones it is already out of date unfortunately.
Bitcoin is not slow, it's not expensive either. Right now, you can send $1 million with a fee of only $1-2 and it takes at most 1 hour to reach the other party. The security of the money is more important than its speed. It doesn't make sense to use an insecure blockchain just to make it go very fast. This may vary depending on your use case. For micro-payments, you can use other fast altcoins like Tron or Doge. However, I wouldn’t trust these coins for wealth preservation.
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
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
Bitcoin is processing more transactions than any other “decentralized” crypto out there. If there is another crypto that claims to process more transactions, then it certainly isn’t a decentralized crypto currency. It is probably just another centralized database that can process billions of transactions per second like visa or mastercard.
Bitcoin can get fast and cheap but then it would lose its decentralized nature which is the whole point of using bitcoin.
If bitcoin is slow and expensive to you, you can always use litecoin and dogecoin.
Bitcoin was intentionally designed to be slow and expensive because that is the only way you can make a fully decentralized network more secure. If there was some way to make Bitcoin faster/cheaper, then the core devs would "fix" this because it would be a bug.
The reason is based on an absolute architectural tradeoff wherein you can only choose two of the following three factors at once:
A. Decentralization
B. Speed / efficiency / low cost
C. Security
Bitcoin's tradeoff if A+C, as it is with some other cryptos like Monero.
Most other cryptos like ETH and SOL etc. choose B+C (but in a way that pretends to be A).
Legiteum is a "pure" play for B+C that doesn't pretend to be anything other than what it is.
The reason is based on an absolute architectural tradeoff wherein you can only choose two of the following three factors at once:
A. Decentralization
B. Speed / efficiency / low cost
C. Security
Bitcoin's tradeoff if A+C, as it is with some other cryptos like Monero.
Most other cryptos like ETH and SOL etc. choose B+C (but in a way that pretends to be A).
Legiteum is a "pure" play for B+C that doesn't pretend to be anything other than what it is.
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@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.
HI,
You might consider reading a lot more about the tradeoffs between POS and POW, and also reading about layer 2 solutions etc which can improve throughput. These have been discussed many, many, many times both here and elsewhere. POW is a feature vs POS for example. ;-)
You might consider reading a lot more about the tradeoffs between POS and POW, and also reading about layer 2 solutions etc which can improve throughput. These have been discussed many, many, many times both here and elsewhere. POW is a feature vs POS for example. ;-)
It will always be slower and more expensive if you compare it with shitcoins with worse security and infinite block sizes. If you compare it with other, more serious usage of financial transactions, you will see that it is the cheapest way to have final settlement transaction across countries, and within only 10 minutes.
It's about Blockchain Trilemma that has three pillars: security, scalability, and decentralization. With altcoins, you can have big scalablity, but more centralized and less security. With Bitcoin, you have less scalability but best in security and decentralization.Not talk about altcoins, but one of most scam altcoins, Bitcoin Cash, and another is Bitcoin SV. They fail to get users from Bitcoin community because their blockchains are worse than Bitcoin blockchain. Who are Bitcoin users and see importance of blockchain security, will use Bitcoin blockchain even they surely know that they will have to wait for a longer time and possibly spend more $ for transaction fee.
We have different use for Bitcoin it seems, as for me I don't see any thing holding bitcoin back when it comes to using Bitcoin to settle some payments online, the slow part is confusing.
I have used Bitcoin too many times already and I know that Bitcoin is fast enough, for payment solutions at least, that is why I believe that lightning fast isn't that greatly needed, if not for some congestion that happens at times but nothing too bad.
I kinda think that PoS coins are faster in transaction than PoW coins like Bitcoin but Bitcoin still get the job done.
I have used Bitcoin too many times already and I know that Bitcoin is fast enough, for payment solutions at least, that is why I believe that lightning fast isn't that greatly needed, if not for some congestion that happens at times but nothing too bad.
I kinda think that PoS coins are faster in transaction than PoW coins like Bitcoin but Bitcoin still get the job done.
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
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
POS is a centralized algorithm that favour people with the highest amount of coins and not what Bitcoin stands for. Moving Bitcoin form POW to POS will be putting the power in a more smaller group and will be worst that what is happening when you say the miners are in control of confirming Bitcoin transaction. Right now after sending some Bitcoin, your transaction can be confirmed by any miner therefore if there are some miners that refused to confirm your transaction, others can do that, making the network very decentralized. Bitcoin is looking expensive to us because we are too interested in converting it into the fiat equivalent when we are supposed to make use of Bitcoin as it is because it is also a currency itself.
It will always be slower and more expensive if you compare it with shitcoins with worse security and infinite block sizes. If you compare it with other, more serious usage of financial transactions, you will see that it is the cheapest way to have final settlement transaction across countries, and within only 10 minutes.
when you say tron is much better than bitcoin it shows that you are just another person who does not understand what bitcoin is and how it became popular until now. you say that bitcoin is slow and expensive, and in comparison you bring tron is very funny. in every way bitcoin is much better than what tron offers. tron just follows what bitcoin brings, and adds transaction speed, but in terms of credibility and long term, bitcoin is much better than tron. and honestly i am much more confident and trust to put my wealth in the decentralized bitcoin network, compared to some altcoin held by a chinese guy who can be manipulated at any time.
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.
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
It is not chapeast but not most expensive blockchain for on chan transactions. If you're looking for a most secure blockchain, it is Bitcoin blockchain. You can see this fact therehttps://howmanyconfs.com/
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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
Proof of Stake is bad because it is centralized in whales. With Bitcoin Proof of Work blockchain, Bitcoin whales can not manipulate the blockchain even they have many bitcoins.Do you like Proof of Work or Proof of Stake after knowing about centralization and manipulation risks?
It's an argument that Bitcoin high unlikely to win, but I'd choose Bitcoin which is slow and expensive instead of unsafe coins which fast and cheaper. I buy Bitcoin as a store of value, so the disadvantage that Bitcoin have is nothing for me, I don't need to receive the coins ASAP and I don't need to pay fees many times.
I think altcoins lovers should be happy, if Bitcoin won everything, altcoins have no chance to be used.
I think altcoins lovers should be happy, if Bitcoin won everything, altcoins have no chance to be used.
There's something nice about having options available. Some coins use proof-of-work while others utilize proof-of-stake protocols. Both got their pros and cons. If fast payments and tiny fees are your top priorities, you got plenty of alts to pick from. But if you're after a decentralized currency that's secure and censorship-free, then Bitcoin is still the best option.
Now for when Bitcoin might switch over to proof-of-stake - simply put, that ain't happening. Its whole deal is anchored in proof-of-work mining.
Now for when Bitcoin might switch over to proof-of-stake - simply put, that ain't happening. Its whole deal is anchored in proof-of-work mining.
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
Simply, if you feel uncomfortable with bitcoin, you feel unsafe investing your assets in bitcoin, you just sell it and move to whatever shitcoin you feel safer with.
Bitcoin was created for everyone and most are happy with what it offers, only a few like you complain. That shows the problem is not bitcoin but you, so there is no reason for bitcoin to move to POS or change just because a few people like you are unhappy.
If you don't trust Bitcoin, you don't need to trust it and it doesn't need you to trust it. My advice is to sell all your bitcoin and buy Tron, that's it.
Bitcoin has undergone several consensus changes, currently the Bitcoin blocksize of 1Mb is nothing more. It makes bitcoin what you say. The greater the scalability, speed, the greater the number of transactions, the more vulnerable it will be to problems. Maybe Coins or other tokens are bigger block size but they are more problematic. Such as increasing resource requirements for network users and longer validation times. I think Bitcoin with block limitations is a good value even though most of it is a weakness. Smaller block sizes can increase decentralization, as they can make it easier for nodes to join the network by reducing the resources needed to participate in the blockchain.
Bitcoin hasn't gone through consensus changes since we've only gotten soft forks so far. The block size is more than 1MB, or 4vMB but it depends on the kinds of transactions that are in a block. Increasing block size doesn't directly lead to a security penalty, that is a myth that is less and less correct as time goes by. Internet speeds and propagation speeds are fast enough to put those arguments to rest.The issue is more of the fact that it simply doesn't make sense to increase the block size to support an extremely large number of transactions. Smaller block size also doesn't increase decentralization. Normal users are already less inclined to run full nodes as before, regardless of block size increment or not. L2 solutions like lightning is a better solution in this regard.
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
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
Not the first time that we have heard this kind of argument, but still Bitcoin remains the dominant crypto, and looking at the mempool right now,
So the fee is very cheap, it might not be instant but it's due to it's decentralization and that is the biggest difference with all altcoins. And there is also Lightning Network, and if you are interested, you can read it here: https://bitcointalksearch.org/topic/table-all-lightning-network-threads-in-one-place-5345664
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.
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.
Bitcoin has undergone several consensus changes, currently the Bitcoin blocksize of 1Mb is nothing more. It makes bitcoin what you say. The greater the scalability, speed, the greater the number of transactions, the more vulnerable it will be to problems. Maybe Coins or other tokens are bigger block size but they are more problematic. Such as increasing resource requirements for network users and longer validation times. I think Bitcoin with block limitations is a good value even though most of it is a weakness. Smaller block sizes can increase decentralization, as they can make it easier for nodes to join the network by reducing the resources needed to participate in the blockchain.
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.
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.
Sometimes it's really slow because blockchain has limits on how many transactions it can process at once. Think of it like a bridge lane where only a certain number of cars can cross at a time. If many people try to use it, it gets congested leading to slower confirmations.
Sometimes it's expensive because miners get to choose which transactions to include in a block. They prioritize those with higher fees. When demand is high, fees go up to incentivize miners to include your transaction.
There are improvements like layer-2 solutions which are like side roads that take traffic off the main highway. They offer faster and cheaper transactions while still relying on the main blockchain's security. I’m not sure if you’ve tried the Lightning Network, I have.
Sometimes it's expensive because miners get to choose which transactions to include in a block. They prioritize those with higher fees. When demand is high, fees go up to incentivize miners to include your transaction.
There are improvements like layer-2 solutions which are like side roads that take traffic off the main highway. They offer faster and cheaper transactions while still relying on the main blockchain's security. I’m not sure if you’ve tried the Lightning Network, I have.
What? it's actually POS where you need to trust your hard earned money to someone else.
In POS, validators that own the biggest amount token will able to control everything, hence it's centralized. if the validator choose to ban the token/address, other validators can't do anything because the highest power is the one who own the biggest amount.
In POW, even the biggest pool not want to include your transaction to the block, other pool will do it.
In POS, validators that own the biggest amount token will able to control everything, hence it's centralized. if the validator choose to ban the token/address, other validators can't do anything because the highest power is the one who own the biggest amount.
In POW, even the biggest pool not want to include your transaction to the block, other pool will do it.
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
Tron is faster since it's more centralized.
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
"when btc to POS"? I doubt it'll ever happen. Besides, it just means Bitcoiner depends towards big Bitcoin holder. Currently it includes few early adopters, major exchange and various Bitcoin ETF. Since you mention tron earlier, it's worth to mention that some exchange helped tron to perform hostile takeover on Steemit network[1].
And what affect TPS isn't PoW or PoS, but rather block size and block time.
[1] https://cryptoslate.com/big-exchanges-conduct-a-hostile-takeover-of-steem-blockchain-following-tron-acquisition/
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
Bitcoin's blockchain can handle 7-10 transactions per second because of limited block size and block time. We are making progress there is a lightning network that is extremely fast and can handle up to 1 million transactions per second, which is much more than Tron (around 2000 TPS).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 it's not that there is no improvement but adoption is the major concern.
Lol funny you jumping from the Pot to the Fire immediately if you picking POS over POW.
I don't believe you haven't heard about layer 2 or Segwit, those had been improvement
And more are on the way
Though slow improvement, Security isn't been compromised.
I hope you can say Tron is way better in the next 10 years (I'm sure you won't).
Go and research on the consensus POW and POS and realise why Bitcoin is still POW despite it been relatively slow and energy intensive.
Miners you don't trust play a role in security and you believe POS is any better?
Nothing is perfect and that's the beauty in Life.
I don't believe you haven't heard about layer 2 or Segwit, those had been improvement
And more are on the way
Though slow improvement, Security isn't been compromised.
I hope you can say Tron is way better in the next 10 years (I'm sure you won't).
Go and research on the consensus POW and POS and realise why Bitcoin is still POW despite it been relatively slow and energy intensive.
Miners you don't trust play a role in security and you believe POS is any better?
Nothing is perfect and that's the beauty in Life.
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
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
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