Bitcoin Forum

It's been two months since SegWit, the magical non-solution, was introduced.
After its release adoption appeared to go quickly for a few days but stabilized after that and is now declining again.

With less than a quarter (23%) of the network accepting/supporting SegWit I think it's safe to say this adaption of the protocol will not be accepted by the community and the blocksize/scaling issues will escalate. Bitcoin will remain as it is without being able to handle more transactions and being more efficient.
Pretty much every block is full nowadays and waiting for confirmations can take many hours, sometimes days if you don't put in an extraordinary high fee.

Don't get me wrong, i think SegWit is a smart and important change in the protocol but it is not the solution it is often advertised to be.

Holy @#$!, a non BTC is dead (Just segwit) post from kwukduck? We not going sub 100 buddy?? How come you're not trolling the low exchange volume??? What's the story, you just getting bored?

FUD. I have made many transactions all with .0001 to .00015 each in fees and I have never encountered a transaction that took more than a day. Sometimes it took a few hours longer but it did not take very long. If what you say is true then there should be hell in this forum going on right now. Relax everything is alright.

The only reason there's no 'hell' on this forum is because the vast majority is delusional and everybody keeps telling everybody else to look the other way and everything is fine. Meanwhile the house is burning.

Explain to me how the refusal of SegWit adoption and currently continuous full blocks are not a big problem, please enlighten me!

I think this is really a serious problem because no matter how many nodes and miners we have every 10 minutes for blocks with this small size is just pure trouble, I don't know though what exactly is the problem if we had bigger block size?

SegWit in its current form won't be pushed through - you are right here. But this is not the end of the line.
It is not like SegWit was the only way for bitcoin to fix block scaling debate. We will have another solution to the scaling problem.

Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining

the reason for that is because we are sending transactions so we know how much it will take to confirm our transactions.
yeah there are temporary times that there is a spam attack like recently and the mempool gets big, but it will last a couple of days and we are back to normal again.

if you hadn't sold your bitcoin on $1 you could send some bitcoin and see that :D

It's just so shitty that segwit didn't take off the way we expected it to. It does seem like a bandaid for now but it does solve the block issue.
Sometimes there are huge waits because ten of thousands of transactions are waiting along with yours.

Litecoin will probably implement it first.

The initial plan (I thought) seemed a good compromise; enact SegWit and plan for blocksize increase at specified date in the future.

But trust has eroded and now it is personal and political.

Hopefully it gets sorted soon, if no hiccups it would really drive us forward.

When you're going to lie about something i recommend you do it about something that's not so easily checked by people...

For the last 1000 blocks (blocksize in bytes)
Mean   882,942
Median   927,633
Mode     998,640

Decentralized right? wrong, miners are an organization dictating their own terms, I wonder though what happens if someone temporary becomes the majority and activates the segwit? is the proposal still available or not?

that is right and they are spamming the shit out of the network or have you forgotten that blockchain is a public ledger that everyone can see and find out any shenanigans on it?
here is one of many addresses involved:
3DFxwfbPhPcqwXDKAZs83pWGuwasYKqdyR

You are off by 6 months on the block reward bit. We dropped from 25 BTC to 12.5 BTC in July 2016.
The fees are still very small when compared to the block reward.

Only one day?! LOL LOL LOL. And you think he is FUDding. Bitcoin is deeply fucked my friends.

the problem is that bitcoin is auto-negating itself the possibility to grow with this limitation, so the fact that the block are not constantly full is not a valid argument to delay the solution forever

it's a fact that with this limit bitcoin will not grow to the global level, there is no going around this, you will reach a point in the future when the distribution will be greater, where a big portion of the mass will not send bitcoin anymore, because fee will be too expensive

You mean like all your bitcoin is dead and bitcoin is going to $0 posts and your general trolling?

I was led to believe segwit was the second coming of J Christ. Now you're telling me it's a dead solution??? Bitcoin truly is screwed. Oh, I've known it for a while; all you who lie about how "strong" btc fundamentals, F&CK OFF!!!

"%any hours" and "Extraordinary fees"

Dude you're going ahead of yourself xD
You got nearly instant transactions with 0.0002 fees right now. That's 20 cents for a transaction you can't talk about "extraordinary fees!

And btc has always been for big moves. It's the only mean I know where you can send money and pay a flat fee. Sure if you want to send 1$ PayPal is better, but if you want to move 10k$ there is NOTHING that can beat btc.

Actually segwit just hit 35% recently.

Also more than 60% of nodes want segwit.

Something is clear, we either get segwit to then raise blocksize to 2MB, or we stay with 1MB forever and bitcoin becomes just a better gold and that's about it.

The ones not signaling for segwit are the ones that don't want to see bitcoin to become a viable currency.

Ah yes! Censorship is what we need here to make the world a better place.

Again, if you'e going to spread lies, make sure it's not so obvious...
https://blockchain.info/charts/bip-9-segwit

I'm surprised that the entire support for Segwit has gone below 25% to be honest, I remember reading when it was close to 43%. A 20% loss of support from the network is actually incredibly significant.

The market seems stagnant about this, considering is hasn't moved significantly from ~$915, or not from what I've seen.

I think this improvement will be implemented in Litecoin first, it seems that the LTC community is supporting the idea. In this case only 75% of the miners' support is needed, while the Bitcoin network requires 95% support. If SegWit proves to be a success in practice, I think that the chances that Bitcoin will receive this improvement will be greater.

I mainly wonder why people seem to be so strongly against SegWit. It's a great optimalisation and preparation  for additional important features i think.

http://imagizer.imageshack.us/a/img921/980/IY6JmX.png

push 2-3 revisions of bitcoin core and it's done ... http://imagizer.imageshack.us/a/img924/5517/v2fmbN.jpg

We need miners to adopt it, not just nodes.

Nodes should be the main point of importance, but unfortunately, the miners are holding back everything even though they know that at some point it will have a significant (negative) impact on the price, and thus the miners too. But they seem to be holding strong on their support for the alternative sides. It's a real shame.

Before SegWit signalling started Bitcoin community was supporting the idea too, we thought it will be pure formality to accept it.
Then because of propaganda of other scaling solutions, SegWit became like number 1 undesired update for BTC.
Even if bitcoin's consensus threshold was set to 75% it wouldn't help us at this point.

Yes the blocks getting full is a big problem but it is not Bitcoin Armageddon like you want it to appear to be. Like I said, I have made transactions using the normal fees of .0001 and sometimes .00015 and have not encountered a transaction that took days. It is the same for a majority of people in this forum, there is not a huge problem like it was the end of the world. If there was it would be hell in this forum and the price would drop.

Then I think we're moving towards no micro transactions network is that right? if adoption takes off as it is more traffic but less small transactions= more serious value transferring, and a healthy incentive for running full nodes. Personally I wouldn't mind to pay from 15 up to 50 cents for sending and receiving in under 1 hour.

Micro transactions are something that people should forget about. Especially when it comes to third world countries. Just browse through the 'Can Bitcoin help poor countries' thread, and look at how many people here think Bitcoin will greatly help people in poor countries, it's pure madness. Fact is that people in poor countries depend on Micro transactions. Don't forget that the further we progress through the years, and the more halvings we go through, the more pools will depend on the income they generate from fees. Also don't forget that the majority of the pools are just cherry picking, where they have no problems in ignoring not interesting transactions for many many hours. So yes, we are indeed moving towards a no micro transactions network.

It should be obvious to everyone that the full blocks have very little to do with natural increased usage, and more with "Spam" attacks targeted at influencing people's minds to simulate a situation where SegWit/LN is urgently needed.

The miners actually thought very little about this, and nearly wiped the inflated backlog in a day or two. Yes, we need to scale, but not when it is forced down people's throat. ^hmmmmm^

Exatly, bitcoin fee is rather cheap, at least cheaper than those fiat paymen processors, and bitcoin is much faster than them. SegWit will beat BU in the end.

It's the Indian cunts crying about $0.40 fees and then complain that a week of waiting for one transaction is great.

because you will need a 2mb increase eventually, it's not a solution, and miners aren't stupid they know this, sgwit look good as an additional "layer of optimization", than the primary solution

i mean i find it more logic to to a 2mb/4mb/whatyouwant hard fork and then do a segwit to make it 4mb/8mb etc...

I am always paying the advanced fees and not having problems like before. What does SEGWIT actually do for the Bitcoin transactions? Can anyone here explain to me in layman's terms what WEGWIT actually does?

There are many topics describing the problems. Read them and you will know. Just don't pay attention to some trolls and shills pushing BU in them

It has not failed, it is not a brick wall, it's just a hilltop we will get over.

Be patient.

Miners're not in a hurry, no need to haste, bitcoin works as it is and not all nodes applied SegWit yet.. There're plenty of time only 2 months have passed.
Be patient my hasty friend. Only wicked Ver's team of shills aka 'Unlimited' trying to create some panic, but they just want Bitcoin to fail...