Why Segwit adoption is so slow? - page 2.

mpufatzis

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I believe the majority is holding their BTC because their value is growing over time.
When the prise will be more stabilised in the future, the people is going to use it more and more as a currency and will adopt the segwit.

Quote from: Matias on November 20, 2017, 06:04:48 AM

Why Segwit adoption is so slow? Is it because of lack of wallet support? Are there incentives for wallet developers to implement Segwit?

bob123

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Quote from: kafeelniazi on November 21, 2017, 02:52:16 AM

Main difference is that Sigwit block size is 2MB as a result difficulty level for mining it is easy and hence transactions are fast.

There are no segwit blocks. And no, we don't have 2MB blocks.
You are talking about the SegWit2x fork which should have happened a week ago. (The 2x stands for 2 times blocksize (2MB))
Bitcoin already adopted to SegWit address formats, to make transactions smaller (Which leads to lower fees per TX, since fees are calculated in sat/B).
But there hasn't been an adoption to 2MB blocks. And thats good. On-chain scaling is no solution.

@OP: There isn't a good reason to delay the SegWit adoption. But as its with everything.. people don't like changing habits.
Look at IPv6 vs. IPv4 for example.. IPv6 is available for years now.. But 80%+ in Europe/USA are still using IPv4.. Just because they are used to it.

Matias

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Quote from: kafeelniazi on November 21, 2017, 02:52:16 AM

Quote from: Matias on November 20, 2017, 10:48:01 AM

^Segwit transfers are faster and cheaper? So wallets’ users would benefit?

Main difference is that Sigwit block size is 2MB as a result difficulty level for mining it is easy and hence transactions are fast.

To my very limited unterstanding, mining difficulty is not affected by segwit.. only block size. Because you can fit in more Segwit transaction to a block, there is incentive for miners to include as many Segwit transfers in a block as possible, and this causes Segwit transactions to go trough faster. . If I've understood correctly

kafeelniazi

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Organic PR on Tier 1 media

Quote from: Matias on November 20, 2017, 10:48:01 AM

^Segwit transfers are faster and cheaper? So wallets’ users would benefit?

Main difference is that Sigwit block size is 2MB as a result difficulty level for mining it is easy and hence transactions are fast. But people are lame at seeing there own benefit. People who just want to use crypto-currency for transaction then sigwit is best option for them but people who only want to deal in crypto-currency for investment purpose then it will take a while before they will go for sigwit.

Matias

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It is interesting, that at first Segwit adoption took of really well, then it stalled and now it has plateaued to approximately 10% level

http://segwit.party/charts/#

-ck

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Ruu \o/

Quote from: exstasie on November 20, 2017, 04:52:47 PM

However, I've been noticing that Tony Gallippi (Bitpay) continues to heavily troll about Bitcoin transaction fees. Here's one from four days ago:

Quote

How many #Bitcoin UTXOs are currently unspendable? I just received $45 and now it will cost me more than that to spend it.

It's not even accurate either. I made multiple transactions right around that time and paid < $10 per transaction, and that was from a non-Segwit wallet.

To knowledgeable users, it looks like a combination of Copay having terrible fee estimation, not implementing Segwit, and misrepresenting the situation. But to new users, his concerns might look legitimate and even ring true. I really think that Bitpay is going to continue this war. I think they are more interested in implementing Bitcoin Cash and pushing users to use it than they are in implementing Segwit.

Indeed, fuckwits will remain fuckwits and people with other agendas will continue to push them however they can.

exstasie

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Quote from: -ck on November 20, 2017, 04:07:11 PM

Quote from: Matias on November 20, 2017, 12:45:27 PM

It is strange, that big service providers are so slow to implement this, all thought it would help their customers.

I suspect a lot of services were holding off directing resources towards segwit adoption because they were preparing for the 2x fork. Now that that has been cancelled, there is really no reason for them to delay any more and it will probably come more rapidly.

I think that's a reasonable stance. However, I've been noticing that Tony Gallippi (Bitpay) continues to heavily troll about Bitcoin transaction fees. Here's one from four days ago:

Quote

How many #Bitcoin UTXOs are currently unspendable? I just received $45 and now it will cost me more than that to spend it.

It's not even accurate either. I made multiple transactions right around that time and paid < $10 per transaction, and that was from a non-Segwit wallet.

To knowledgeable users, it looks like a combination of Copay having terrible fee estimation, not implementing Segwit, and misrepresenting the situation. But to new users, his concerns might look legitimate and even ring true. I really think that Bitpay is going to continue this war. I think they are more interested in implementing Bitcoin Cash and pushing users to use it than they are in implementing Segwit.

Aura

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It's because a lot users still don't use wallets that have Segwit integrated, including me.
If you want to support Segwit, then change to a wallet that has Segwit support for example core.
I am going to switch my funds to a Segwit wallet when the tx fees begin to drop.

-ck

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Ruu \o/

Quote from: Matias on November 20, 2017, 12:45:27 PM

It is strange, that big service providers are so slow to implement this, all thought it would help their customers.

I suspect a lot of services were holding off directing resources towards segwit adoption because they were preparing for the 2x fork. Now that that has been cancelled, there is really no reason for them to delay any more and it will probably come more rapidly.

Matias

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Thank you for your answer. It is strange, that big service providers are so slow to implement this, all thought it would help their customers.

achow101

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Just writing some code

Quote from: Matias on November 20, 2017, 10:48:01 AM

^Segwit transfers are faster and cheaper? So wallets’ users would benefit?

Yes, and services which cover fees for their customers and want customers to be happy would want to have transactions that have lower transaction fees.

Matias

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^Segwit transfers are faster and cheaper? So wallets’ users would benefit?

achow101

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Activity: 3458

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Just writing some code

Quote from: Matias on November 20, 2017, 06:04:48 AM

Why Segwit adoption is so slow?

It's likely because large services like Coinbase, Bitpay, and Blockchain.info have not yet implemented segwit.

Quote from: Matias on November 20, 2017, 06:04:48 AM

Is it because of lack of wallet support?

Yes.

Quote from: Matias on November 20, 2017, 06:04:48 AM

Are there incentives for wallet developers to implement Segwit?

For services, yes. It will cost them and their users less in fees. For other wallet software developers, the incentive is to avoid technical debt and have the latest and greatest.

Matias

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Why Segwit adoption is so slow? Is it because of lack of wallet support? Are there incentives for wallet developers to implement Segwit?

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