Bitcoin Forum

Bitcoin has tremendous fees and is too slow for in person transactions.

And yet Bitcoin's forum is packed with users and thousands of new posts everyday.

I go to any other alt coins forum and it's crickets. It's dead, like one or two posts a day compared to thousands on the Bitcoin forum.

I stopped using Bitcoin because I didn't want to pay $30 transaction fees.

Why does everyone here still support Bitcoin instead of jumping ship to a coin with faster/cheaper fees?

Honestly I'm asking not to knock Bitcoin, I'm simply trying to predict which coin will be big in the future so that I can buy it now while it's still cheap  ;D
Rather than guess, I figured it best to ask the community directly?

I'm assuming you stick with Bitcoin because it's all about the brand.  

Hey, I prefer Coca Cola over those 25 cent generic colas. I'm willing to pay double the price for Redbull instead of Monster or Rockstar. I like Cheerios better than Tasteos.

Brand is important.

But for a coin, I'm probably willing to pay at most 50 cents more per transaction for the Brand name coin over the coin with an inferior name.

Maybe everyone is waiting for the Lightning Network? I've read about it. It seems like an inferior solution to a coin that can transact quickly/cheaply on the blockchain.

inferior to what?
it is like asking people why they prefer Gold over Shit, then go on explaining how Shit is used a lot for example for fertilizer, burned for heating,... and this is what you are practically doing.

you think altcoins are better than bitcoin because they are advertised as such and also regarding fees you see an unused thing with a low price then think fees of such network will always remain the same! it was already proven multiple times for multiple coins that they have the same fate as bitcoin. ETH got congested multiple times and its fees went to the moon, BCH was spam attacked for about a week and its mempool and fees went to the moon,....

Why Bitcoin is supported? Because I'm willing, you don't like bitcoin, you think it's useless, you just leave here. Nobody wants to leave you. After all, everyone has different ideas. I think Bitcoin's future deserves my investment. This is enough.

bitcoin has actually lost alot of its utility and passion.
it seems the only things left are peoples emotions.

people still believe in bitcoin for 3 reasons
1. the dev team
2. the person spent alot of money buying in and will defend it right up until the point they make profit and then thier devotion wanes
3. "its the first"

to which people need a reality check
1. dev's will move onto different projects. we are already seeing the devs of blockstream helping out with other coins and even hyperledger. so dont "trust" that devs have a life ambition to stick with bitcoin. just like the employee's of myspace moved on to different social media platforms
2. if your mindset is only defending bitcoin, to bump the price to get your fiat profit.. by defending bitcoin even when the ethos and utility is being teared apart, then that alone shows its not sustainable as an asset (HODL coin)
3. again look at napster, myspace, AOL.. being in first place is not reason alone.. even olympic gold medal runners get old and slower and are replaced

yes there will always be people hyping bitcoin trying to get new people to buy it. but not due to technical advantages, but purely as a hot potato game of passing on the hot potato before they get burned

i personally gave up hyping bitcoin in around 2014-2015 once i started seeing bitcoins utility/ethos diminish and i did not want to become one of them people trying to advertise bitcoin purely for the price bump. as that then becomes the grey area/border line of no longer advertising a viable product/asset. but starting to advertise something purely for a rob peter to pay paul

so if anyone with ethics/morals really took a long hard and open minded thought about it. if you are only hyping bitcoin for the hope it will push up the price so you can trigger your exit strategy, then deep down you know bitcoin is not sustainable as only an asset currency.

bitcoin needs to be more than just an asset(HODL coin)

It is true that technology is inferior but not all the timez you will fear the technology. It is risky but it if the bitcoin will grow, It can change our system to new form market change

In recent months, after the December price record growth, bitcoin has really lost its popularity due to the accumulated deficiencies in it, and the number of its daily transactions has dropped from 400,000 to 200,000. However, on February 26, a new version of Bitcoin 0.16.0 was released, which differs from the previous full support for SegWit, which solves the problem of low scalability of bitcoin by compressing the volume of each transaction. As a result, all the existing shortcomings of bitcoin should soon be eliminated. Therefore, bitcoin can reach the forecasted rate of $ 30,000 this year.

Because you're wrong, the technology behind Bitcoin isn't inferior as it can be changed at any point if the miners are to agree to change it. Bitcoin could be ever changing to adapat to a different market, and at the moment it doesn't need to change. We've seen some issues no doubt, but this is from people spamming the shit out of the network (roger ver and co) or failing to be competent with the network (coinbase and batching) These people inflate the price of fees and make Bitcoin look bad, though it doesn't need to be like this.

I fully still support bitcoin.

The transaction fee is really big problem with Bitcoin for its adoption and popularity. I am in hope that technology upgradation will bring the solution for transaction problem. Even than Bitcoin is the hero of crypto market.

blah blah blah.. hyping something just to talk about a price you hope for... (facepalm)
segwit doesnt guarantee scaling growth of doubling/quadrupling

firstly it requires EVERYONE using segwit addresses to get double+ scaling.. yet just a legacy block growth would have done it without requiring people to move funds to new address designs.

secondly, spammers can continue using legacy addresses and fill a block, thus not causing the scaling hope that you hope for..
(ELI-5) think of it like a bus, usually families buy a ticket per person one for the child(txdata) and one for the parent(signature/witness proof txdata is what it is).. taking up multiple bus seats. segwit just allows the parent to ride the bus for free if the child buys a ticket and takes a seat.
problem is if legacy families all buy the seats theres no room for segwit families.. thus segwit isnt a guaranteed fix

thirdly, the 'discount' for segwit transactions is not permanent/fixed. pools could decide to not discount segwit tx's very easily

Thunder network deployment will solve the problem of bitcoin transfer speed slow, because of the market leaders in the cryptocurrency market, each country only admit the bitcoin status, bitcoin and blockchain  are inseparable.

because there is no "superior" technology than what bitcoin is using. altcoins are either exact or poorer copy of bitcoin which means they have the same problems or even worse problems because of the changes they did thinking they are improving.
or some altcoins are using different technologies which improve things but not by that much so to be called "superior".

and your whole argument is based on fees but the fees of altcoins can go up if they are used as much as bitcoin is used!
imagine bitcoin is a bridge with 2000 cars passing it every 10 minutes. the bridge is standing up and can handle the weight of these cars.
in this example altcoins with lower fees are like another bridge with a different structure which is saying it can handle 100000000 cars passing it but in reality only 1 car every hour passes it. so you think that bridge can handle the weight of that many cars.

while yes altcoins are only utilising small amounts of traffic.. the problem is that many have been fooled into believing that the 'bridge' can only handle 2000 cars every 10 minutes. and that things like discounts for 'car seat sharing' is needed or using lightning 'aeroplanes' to avoid using the 'bridge' as much are the solution to get around the increase of a bridge toll..
rather than adding extra real lanes and a fee formulae to sort out charging a fair toll (spammers pay more if all they do is go across the bridge every 10 minutes as oppose to just once a day/week)

bitcoin is becoming outdated and moving into a direction of FIAT2.0(counterparty authorised banking) with its lightning hub model.
im sorry to reality check you, but bitcoin has LOST more utility than it has gained. and there will be newer blockchain tech models that will take over. much like how facebook overtook myspace

though i love bitcoin, i stick with reality and dont overhype things. let people make decisions based on fact not hype/hope, otherwise your just trying to hype that myspace is the best social media platform because its the first

because the bitcoin has no specific value, though its low technology price, you do not know when it will increase or decrease, so you just need to believe in what you do not see, trust in bitcoin, before the bitcoin price is $ 1000 just now about $ 11,000, its highest peak is $ 19,000 if you invest and believe in bitcoin then, maybe you're millionair now

I could not really understand people into cryptocurrency who are looking at Bitcoin with an insulting look (or some varying degree thereof). I know it is their freedom to do but these people should realize that in the eyes of the outside world whatever will happen to Bitcoin can all be affecting all altcoins. Bitcoin is representing to the whole world the very idea of cryptocurrency. This is not to defend Bitcoin because certainly it is not perfect but nothing is really perfect as all variety of cryptocurrency got their own imperfections. We have to recognize Bitcoin as the trailblazer which others just followed.

You have obviously not used SegWit lately, because $35 fees happened last year in December 2017. The fees have dropped to a few cents and some exchanges have started to batch transactions, so the Mempool is basically empty. https://blockchain.info/charts/mempool-state-by-fee-level

Also remember that SegWit made spam attacks more expensive and with a empty MemPool, spam attacks will be even more expensive. ^lol^

yes, I think the fees expensive and the slow transaction is the weakness of bitcoin, so it makes people disappointed. and forums just to contribute well to the crypto world, not just bitcoin.

if you are not satisfied with bitcoin service, then a good decision when you leave bitcoin, and choose cheap altcoin and not slow.

there are many altcoins that have good development, and will replace bitcoin in the future, maybe ETH, NEO, Ripple and monero is a good place to invest and for trade.

which has a brand is the best , so if you can, you should not leave bitcoin, because when the correction ends bitcon will give you a big advantage.

and it what i do today, and my reason why i still stay in bitcoin.

I see my self in you bro
at first I collect as many as bitcoin I can but as I see the transaction fee it was about 24 dollars per transaction and it is the minimum fee for .01 btc. as days go by I see this ETHEREUM and I am a still newbie in that day so don't roast me ahhaha but now I am using Ethereum more rather than bitcoin . .04 $ per transaction and much faster that bitcoin. I am also not hater of bitcoin but I am more on to advantege than that haha. lets be practical

Maybe you need some update before trying to accuse bitcoin? :D
"high fees"? No way, with segwit the fees are really low, try yourself!
"slow"? No way, try yourself. I agree that there are coins with higher speed, but the speed here is not the point.. Bitcoin has all the whole community behind..If your arguments are just low speed and high fees, come here next time with more, cause fees and speed are excellent.

segwit is not the cause of the mempool/fee reduction.. just look at blocks, segwit is not even 10% of a block utility..
the reason the mempool is near empty is because the only reason it filled was spam

the only reason there was spam was at times that people wanted to push CORE features.
check the history dates of major spam events.

most spam is caused by mixers which guys like gmaxwell are known to be involved in. and as soon as core gets their feature update they turn off their spambots...and try to make it look like its the new core feature that solved a problem.. yet even though their feature is activated, its not USED to any degree to explain the reality of mempool decreases..

just check out the block stats, compare it to the hype of core wanting new features/updates being accepted by the community, not the reddit propaganda

and anyone that wants to scream out the reddit propaganda of "gigabyte blocks" or "no to 2mb/4mb" purely to defend core devs commercial choices, well here is something to enlighten you, using the 'bridge' analogy from the post earlier.

some say that bitcoins bridge can only handle 2000 cars and thus car sharing/lightning aeroplanes (off bridge) are the only way, because bitcoin can only handle 1 lane of traffic, not 2(mb) lanes. not 4(mb) lanes..

yet the commercial decision of devs is that they know bitcoin can handle 4mb of data.. but they just dont want legacy users having that. instead you have to use the single toll road for old cars and only the new segwit cars get to use the other lanes(weight) yet only 10% of cars have updated to the new segwit cars,
also core known devs stopped driving their fleet of mixer old generation cars from going in circles, to stop the traffic jam to make it look like cores new lanes has solved the problem

Yes. Bitcoin's technology is clearly not inferior against new altcoins and besides bitcoin has already upgraded and also, the fees are very low at the moment due to mempool clear up (the obvious reason is spam attacks) and if you are using a segwit address, the fees will further lowered now, we can use bitcoin in shops without whining about the fees i think it is safe to say that bitcoin had returned to original glory.

I appreciate your point of view, that is your opinion. In fact, some things you say, that what makes bitcoin more valuable. THis is not about technology, but how this can be scaled up for wider industries.

Bitcoin already has a big name in a crypto so want any people still interested to use bitcoin even bitcoin enthusiasts growing every day. That is the reason why people still support bitcoin than other coins. I think people prefer crypto that is clearly trusted and tested can survive so far from the efforts of parties who want to make bitcoin slumped.

Bitcoin is not that inferior based on what you think.

If you look at the transaction cost. The Segwit 2x was already implemented since last year august 2017. This is the solution for the high transaction fee. The development team are slowly and securely upgrading bitcoin block-chain whenever necessary. No one can hack the bitcoin block-chain. If you saw and read the news of bitcoin hacking. it is the negligence of the wallet holder / user or exchanges.

Remember that bitcoin is the storage of great and massive wealth, which enables us to transfer our funds without the need of third party in an instant not 2 to 3 days.

Quit trolling, there's nothing inferior to Bitcoin (members already said enough).
Stop Feeding the Troll

Thunder Network, really? You forgot to say thanks to google/translate.
Lightning Network can't do that straightforward, the services that involves bitcoin transactions needs to change the way they process their user's funds in order to utilize LN, unlike SegWit which can be done by changing user addresses to bech32.

Well I do think that you are new and you need to explore a lot more than what you think.
You know Bitcoins are now improving and also they are pretty safe. As compared to other cryptocurrencies the profit margin is also high.
It's incredible when you will come in this world of cryptocurrencies then you will know.
It's wide spread ..and most widely accepted ... ! Because of a reason not just because  it's old .

I don't think some of us really understand OP. He is not hating bitcoin but rather asking questions that should help members learn more and also open our eyes. Moreover, he is entitled to his opinion, he made an elaborate exposee' , giving his reasons for every point he mentioned. He is detailed a enough, wasn't just a one liner post, like saying for instance -"I hate bitcoin".

Yup, as you mentioned, its main strength is the brand and from that it affects some other things such as receipt of cryptocurrency transactions that are still limited to some cryptocoins only. Then the people hodl bitcoin hoping the price will continue to increase, like happened few months ago. Some altcoins also don’t have good management, indeed they offer many new things but again, back to the management of the coin, also some of altcoins are a scam.

Not everyone use bitcoin only for transactions because of the large fee and some just for investment, whether it’s for long term or short term. Many choose to use altcoin for transactions because the fee to pay is not as big as Bitcoin, but because of so many altcoins and not all are well known by traders so Bitcoin is used as the 'major currency' and possibly some altcoins have a lot users e.g, ethereum and rippel.

Here we are talking only about Bitcoin, not other cryptocoins, dude. What I knew the speed and the amount of fee is inversely proportional, meanwhile the fee and the amount of the transaction is directly proportional.