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Bitcoin => Bitcoin Discussion => Topic started by: cryptoboss2020 on May 03, 2021, 11:06:28 AM



Title: What is the Reason BTC must be so slow?
Post by: cryptoboss2020 on May 03, 2021, 11:06:28 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!


Title: Re: What is the Reason BTC must be so slow?
Post by: o_e_l_e_o on May 03, 2021, 11:41:15 AM
BNB and XRP are centralized shit coins. They are effectively the same as an excel spreadsheet controlled by a single entity. That entity can move numbers around on the spreadsheet instantly and for free, moving coins between different addresses instantly and for free. However, that entity can also give themselves a billion new coins out of thin air, can freeze your addresses, can seize your coins, can blacklist your transactions. They might be fast and cheap, but you are giving up decentralization, security, and safety in return.

Decreasing block time to get faster confirmations doesn't actually solve the problem. Drop the block time to 1 minute, and you now need 10 confirmations to be as secure as a transaction with 1 confirmation at the moment. That's why coins like Litecoin or Bcash might seem fast, but actually days to reach the same security that bitcoin does in 6 confirmations. Not to mention problems with higher rates of conflicting blocks, stale blocks, double spends, etc.


Title: Re: What is the Reason BTC must be so slow?
Post by: cryptoboss2020 on May 03, 2021, 11:56:58 AM
BNB and XRP are centralized shit coins. They are effectively the same as an excel spreadsheet controlled by a single. That entity can move numbers around on the spreadsheet instantly and for free, moving coins between different addresses instantly and for free. However, that entity can also give themselves a billion new coins out of thin air, can freeze your addresses, can seize your coins, can blacklist your transactions. They might be fast and cheap, but you are giving up decentralization, security, and safety in return.

Decreasing block time to get faster confirmations doesn't actually solve the problem. Drop the block time to 1 minute, and you now need 10 confirmations to be as secure as a transaction with 1 confirmation at the moment. That's why coins like Litecoin or Bcash might seem fast, but actually days to reach the same security that bitcoin does in 6 confirmations. Not to mention problems with higher rates of conflicting blocks, stale blocks, double spends, etc.


And what is so big problem with that "centralized"?
As Long as the coin works and goes Good I Don't see the problem.
Coin is centralized If You pay honestly taxes do legit things nothing to hide what is the big deal?
Anyways the owners can only control the system
If the owner try to do something funny...  Its a chaos.
And why kill the slave If you can keep your slave Happy and he Will Work for you anyways.
Also If you show to the People your true attitude that you are the big boss and Want to Control... Well People Will do revolution so the direct Control is Not a Control.
Btw...  If I own money in bank and Some banker do the funny things my account I lose I make him to pay that I Go in Court and sue him.
Or If I Want I Tell him  You own me that much money You pay this this date.
That's so Simple!  So Simple.  
If You Don't fck with Others no body dont fck with You If you mess around and get punishment.. then First ask... yourself.

So thts why i dont see this centralized thing as a big issue.
Nobody Don't Want conflicts and problems.
That's why the Central Banks do the QE Now so we get money and not kill each other.
Everybody is focused on money nowdays.
You Don't Care about Control If You get money.
Main focus is on money I Don't see why they need to do funny things as long as they get their 100k+ Monthly income Easy!
Why to change?  The system we have in the World works Perfect.
The Rich get richer and poor get more poor.
The bankers must be dumb If they going to change this... I dont think they will.
Everything is just fine Now.
Everybody focus on getting money making money Even wars are not needed becouse money is where Everybody attention are.
Make money business and success live Happy luxury life avoid violant wars or conflicts.




Title: Re: What is the Reason BTC must be so slow?
Post by: cryptoboss2020 on May 03, 2021, 12:10:57 PM
Coin is centralized If You pay honestly taxes do legit things nothing to hide what is the big deal?

People who use Bitcoin also required to pay tax on some country

Btw...  If I own money in bank and Some banker do the funny things my account I lose I make him to pay that I Go in Court and sue him.
Or If I Want I Tell him  You own me that much money You pay this this date.
That's so Simple!  So Simple.  

Suing owner or group who control centralized coin is harder than suing bank though. Besides, it's not cheap and time consuming to sue someone.

So thts why i dont see this centralized thing as a big issue.

If you have no problem with centralization, Bitcoin simply isn't for you.


I Don't Care really as long as things are working the Way I like it.
Quality is speed in Transactions and cheap Transactions.

Btw..  What Kind of person want to be famous of ruining up many People's lifes?  
Do you think garlinghouse really want to be known that made many People's lifes bad?
Where is logic on this?  
But Satoshi is Not known so we dont know satoshi attention s.
If Something happens all we need is someone who is responseble.
If something Goes wrong with ETH we know buterin will have liability.
If Ada goes wrong...  We know whos the owner



Title: Re: What is the Reason BTC must be so slow?
Post by: Charles-Tim on May 03, 2021, 12:13:53 PM
Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
You need to make proper research on what you do not know before making shitty posts again and again. Bitcoin PoW algorithm can be adjusted in a way to make transactions faster, but know that bitcoin mining reward algorithm is programmed to mine a block at 10 minutes interval, although the time can vary significantly, it is one of the reason. Or block size can be increased to make transaction faster, but this has only resulted to hard fork, why are the forked coins and other coins not progressing like bitcoin.

Also know that bitcoin is not only about money, it is also an asset.


Title: Re: What is the Reason BTC must be so slow?
Post by: cryptoboss2020 on May 03, 2021, 12:21:16 PM
Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
You need to make proper research on what you do not know before making shitty posts again and again. Bitcoin PoW algorithm can be adjusted in a way to make transactions faster, but know that bitcoin mining reward algorithm is programmed to mine a block at 10 minutes interval, although the time can vary significantly, it is one of the reason. Or block size can be increased to make transaction faster, but this has only resulted to hard fork, why are the forked coins and other coins not progressing like bitcoin.

Also know that bitcoin is not only about money, it is also an asset.


I m not techical person and sure many People arent.
I dont understood and others dont nothing You said like words... Pow...
All I know is this,
I need to Move Funds from A to B fast,  and cheap way as possible*

Its time to Make Simple app so Even the eldery older People Can send money easy and it will convert crypto in fiat right to way so we dont have to calculate 0..70.000.577 kind of crap.
I want to see how many usd or eur. right to way.

the epayments like payza,  Perfect money is kind of Services is what we need.
They Simple instant cheap and easy to use.



Title: Re: What is the Reason BTC must be so slow?
Post by: o_e_l_e_o on May 03, 2021, 12:41:06 PM
And what is so big problem with that "centralized"?
Go and ask USDT users who have had their addresses frozen and have lost all their money. Go and ask PRL holders after the owner printed 3 million tokens out of thin air, gave them to himself, and dumped them on the market, rendering the remaining tokens worthless. Go and ask Bitconnect holders how their investments are coming along. Those are the problems with "centralized". If you are happy with some complete stranger having complete control over all your money, then you might as well stick to fiat. At least then the banks are insured against some losses.


Title: Re: What is the Reason BTC must be so slow?
Post by: cryptoboss2020 on May 03, 2021, 01:14:23 PM
And what is so big problem with that "centralized"?
Go and ask USDT users who have had their addresses frozen and have lost all their money. Go and ask PRL holders after the owner printed 3 million tokens out of thin air, gave them to himself, and dumped them on the market, rendering the remaining tokens worthless. Go and ask Bitconnect holders how their investments are coming along. Those are the problems with "centralized". If you are happy with some complete stranger having complete control over all your money, then you might as well stick to fiat. At least then the banks are insured against some losses.


So your point is Trust Banks and BTC.? 
If something happens with usdt its big Thing not a small issue. 


Title: Re: What is the Reason BTC must be so slow?
Post by: o_e_l_e_o on May 03, 2021, 01:28:46 PM
So your point is Trust Banks and BTC.?
The exact opposite. Bitcoin does not require trust. That's the entire point. Every centralized coin that you seem to have no issue with requires your complete and total trust in one or more complete strangers. Bitcoin is obviously a better option, but if I am going to have to trust someone to hold all my money, then I'm going to trust a national or international bank which is insured and regulated, and not a complete stranger who launched their own token by plagiarizing some code.

If something happens with usdt its big Thing not a small issue.
Tether have already frozen millions of coins in hundreds of addresses, and yet they continue to operate. They have admitted in court that USDT is not backed up 1-to-1 as they previously claimed, and yet they continue to operate. They have revealed in court some very shady banking practices, including giving loans to themselves to cover up for insolvency, and yet they continue to operate. If you are happy trusting them with your money then fire ahead, but they won't be getting a single satoshi from me.


Title: Re: What is the Reason BTC must be so slow?
Post by: ImHash on May 03, 2021, 01:34:58 PM
Bitcoin needs a lot of working to do in the future, no doubt about that, but it is still the best investment, if you look at it as an investment and not a currency, for a currency it is terrible. high fees etc.


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 03, 2021, 03:08:31 PM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.


Blocks are regulated to be smaller to protect, and secure Bitcoin’s main value proposition. Censorship-resistance.

Quote

Bnb and xrp Nice cheap and smooth.


Those networks are more centralized, and not as secure as Bitcoin.

Quote

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!!  

What is the Main Reason the BTC creators Can't fix that Old stupid problem?  
I m Kind of person I Want quality of everything.  
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!


You are a newbie, it’s understandable to think that way, but learn about the fundamentals, and why it’s very important for the Bitcoin blockchain to scale out, and be more redundant.


Title: Re: What is the Reason BTC must be so slow?
Post by: aztecoin on May 03, 2021, 07:15:29 PM
I think there are several points of why Bitcoin is still slow.

In principle, its architecture with which it was designed in its time was in accordance with the needs (performance) of those times, I think they did not anticipate the success it would have in the future and in our days.

Some parameters of its slowness could be:

1.- The type of consensus to decide which miner will win to carry out the transaction by its nature is slow depending on the potential that it needs at the computational level (solve the mathematical puzzle that is this).

2.- The verification to accept a transaction is another reason (merkle tree) how each transaction is classified to prevent double expenses.

Among others.

However, I believe that due to its nature of being the first digital currency that this financial system proposed, it will always be in demand.


Title: Re: What is the Reason BTC must be so slow?
Post by: Gamerholic on May 03, 2021, 07:28:28 PM
Too much commission and too many small transactions that overload the network and make it slower to build block chains. Further we will see two options in my opinion. Either the price of bitcoin will go down and then the situation will decline along with it and the problem will be solved by itself, or the community will be forced to follow the path of self-restraint. For example, no more than a certain number of transactions per unit of time.


Title: Re: What is the Reason BTC must be so slow?
Post by: robertjack on May 04, 2021, 05:12:06 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!

Bitcoin, without a doubt, has a lot of work ahead of it in the future, but it is also the greatest investment, if you look at it as an investment rather than a currency; as a currency, it is bad. High fees, for example.


Title: Re: What is the Reason BTC must be so slow?
Post by: pooya87 on May 04, 2021, 05:27:30 AM
And what is so big problem with that "centralized"?
There is no problem with centralized payment systems. The problem is with your comparison of apples and oranges.

If you want to compare a centralized shitcoin then you have to compare it with other centralized payment systems and then you will see that they are performing terribly. In other words
- when the choice is between decentralized bitcoin and centralized shitcoin the choice is always bitcoin.
- When the choice is between centralized shitcoin and a centralized regulated and trustworthy payment system like VISA the choice is the centralized regulated payment system because it is working within the law and is not controlled by some shady company that could be shut down by the government.


Title: Re: What is the Reason BTC must be so slow?
Post by: dohh on May 04, 2021, 05:40:44 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!

The main reason for this is: if the transactions are slow, then the platforms have enough time to make sure that when real money (also known as much hated "FIAT") in decent amount enters into the market, it finds the "right" owner.

That´s why.


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 04, 2021, 06:03:00 AM
And what is so big problem with that "centralized"?
There is no problem with centralized payment systems. The problem is with your comparison of apples and oranges.

If you want to compare a centralized shitcoin then you have to compare it with other centralized payment systems and then you will see that they are performing terribly. In other words
- when the choice is between decentralized bitcoin and centralized shitcoin the choice is always bitcoin.
- When the choice is between centralized shitcoin and a centralized regulated and trustworthy payment system like VISA the choice is the centralized regulated payment system because it is working within the law and is not controlled by some shady company that could be shut down by the government.


OP might also be viewing it from the wrong perspective. Bitcoin currently stores billions in value. Would those billions be as safe if they were stored in BNB, or XRP, under the control of a centralized entity?

Plus OP, if you had $1,000,000, for security, do you want a long term HODL in Bitcoin or shitcoins?

I also believe there are trolls in the forum who spread FUD to discourage Bitcoin HODL, because valued money starts as a Store of Value.


Title: Re: What is the Reason BTC must be so slow?
Post by: btc78 on May 04, 2021, 06:14:04 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.
i have just used Bitcoin transfer and  it goes very fast and smooth , from gambling site to mg exchange wallet.
Quote
And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 
care why consider as altcoin ETH transaction fee needs to be low? it has been running for long now yet there are still many who uses this.
Quote
What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.
You are a kind of person? Shut your f@cking mouth because you are not even contributing a single transaction in crypto and just lurking around to troll .
Quote
Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
Maybe teach yourself to have value in this forum and not just crying and crying .


Title: Re: What is the Reason BTC must be so slow?
Post by: jossiel on May 04, 2021, 07:15:28 AM
Gas fee had dropped a lot unlike a few weeks ago. The standard fee is around 25 gwei which will validate an ethereum transaction within 5 minutes or even earlier.

Whilst for a bitcoin transaction, a low priority transaction will cost you an estimation of 24 sat/vb as per https://mempool.space/


Title: Re: What is the Reason BTC must be so slow?
Post by: masphie on May 04, 2021, 07:15:41 AM
Transaction problems can be sooner or later, I don't think it's a problem with bitcoin.
The slow pace of cryptocurrency transactions can occur from the busy transaction route of the coin or there is a problem with the market itself


Title: Re: What is the Reason BTC must be so slow?
Post by: bitterguy28 on May 04, 2021, 07:30:15 AM
Transaction problems can be sooner or later, I don't think it's a problem with bitcoin.
The slow pace of cryptocurrency transactions can occur from the busy transaction route of the coin or there is a problem with the market itself
This is only an issue from People who keeps looking for faster transaction but now even using the Bitcoin for their Businesses .

They are just looking for asking things to make bitcoin looks bad but the truth is , this is very helpful and profitable.


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 04, 2021, 09:25:48 AM
Gas fee had dropped a lot unlike a few weeks ago. The standard fee is around 25 gwei which will validate an ethereum transaction within 5 minutes or even earlier.


It’s laughable, because despite Ethereum’s fast confirmation between blocks, and its miners deciding how large the blocks  should be as limited by Gas, it’s fees still have become very expensive.

I believe it’s a hard lesson that maintaining in blockchains, and for it to incentivize itself to work, there has to be “cost”.

Quote

Whilst for a bitcoin transaction, a low priority transaction will cost you an estimation of 24 sat/vb as per https://mempool.space/


It’s actually lower. It will cost a user 5 sat to have your transaction in the next 2 or 3 blocks, but probably also the very next block, https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight


Title: Re: What is the Reason BTC must be so slow?
Post by: jossiel on May 04, 2021, 10:36:05 AM
Gas fee had dropped a lot unlike a few weeks ago. The standard fee is around 25 gwei which will validate an ethereum transaction within 5 minutes or even earlier.


It’s laughable, because despite Ethereum’s fast confirmation between blocks, and its miners deciding how large the blocks  should be as limited by Gas, it’s fees still have become very expensive.

I believe it’s a hard lesson that maintaining in blockchains, and for it to incentivize itself to work, there has to be “cost”.
Yeah, I would agree with that. There's really the side effect of taking that quite high cost that needs to be incentivized for the sake of miners but it's exciting once it's go on full pos.

Quote
Whilst for a bitcoin transaction, a low priority transaction will cost you an estimation of 24 sat/vb as per https://mempool.space/

It’s actually lower. It will cost a user 5 sat to have your transaction in the next 2 or 3 blocks, but probably also the very next block, https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
Thanks, data for both sites differs.



Title: Re: What is the Reason BTC must be so slow?
Post by: davis196 on May 04, 2021, 11:00:03 AM


And what is so big problem with that "centralized"?
As Long as the coin works and goes Good I Don't see the problem.
Coin is centralized If You pay honestly taxes do legit things nothing to hide what is the big deal?
Anyways the owners can only control the system
If the owner try to do something funny...  Its a chaos.
And why kill the slave If you can keep your slave Happy and he Will Work for you anyways.
Also If you show to the People your true attitude that you are the big boss and Want to Control... Well People Will do revolution so the direct Control is Not a Control.
Btw...  If I own money in bank and Some banker do the funny things my account I lose I make him to pay that I Go in Court and sue him.
Or If I Want I Tell him  You own me that much money You pay this this date.
That's so Simple!  So Simple.  
If You Don't fck with Others no body dont fck with You If you mess around and get punishment.. then First ask... yourself.

So thts why i dont see this centralized thing as a big issue.
Nobody Don't Want conflicts and problems.


You seem like a person,who likes fiat money/centralized currencies.There's nothing wrong with that.
If you like fiat money and centralized currencies that much,then why are you whining about Bitcoin transactions?Just use centralized coins that have fast and cheap transactions and forget about BTC.
Your post is just a lame attempt to shit over Bitcoin for reasons that we already know and have been discussed years ago.You have the freedom to pick any altcoin you want and use it instead of Bitcoin.
If you have trust in the banking system and the courts,that's great.I don't trust the banking system and the courts,so I'm not gonna be risking all my money,by putting them in a bank.




Title: Re: What is the Reason BTC must be so slow?
Post by: ranochigo on May 04, 2021, 03:07:41 PM
1.- The type of consensus to decide which miner will win to carry out the transaction by its nature is slow depending on the potential that it needs at the computational level (solve the mathematical puzzle that is this).

2.- The verification to accept a transaction is another reason (merkle tree) how each transaction is classified to prevent double expenses.
You're just talking about the block intervals, no one decides which miners win. Very simply, whoever can extend the chain by providing a valid PoW can lengthen the chain.

Transaction validations are very fast, in the neighbourhood of milliseconds. You're just removing data from the UTXO set and adding new ones, validating the signature, etc. Any modern computer or devices can handle that quite quickly.

Bitcoin definitely needs to be repaired in the future and newer algorithms used for optimization. The reason why Bitcoin is slower and more expensive than in the last 5 years is also clear. Thousands of small and large transactions are encountered every day and they have to adapt the previous network with new algorithms.
Let's give Bitcoin a chance, we're still talking to the King of Currencies.
Bitcoin will always have a 10 minutes block interval. You can scale Bitcoin with certain optimization but changing the block interval can net a faster confirmation if that is all that you care about. Rather than it being slower, it is just more expensive. There are efforts made to optimize each transaction but there is a point the optimizations would hit a wall.


Title: Re: What is the Reason BTC must be so slow?
Post by: South Park on May 04, 2021, 03:26:12 PM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
The issue has always been security, there are many coins that give very fast confirmations and people are happy about it but what they do not understand is that it takes a lot of confirmations in order to get the same kind of security that you get with the bitcoin network, we most also understand that the space on each block is limited and when the network gets busy then it is going to be very costly to get a confirmation especially for those that do not really want to pay a lot of money for it.


Title: Re: What is the Reason BTC must be so slow?
Post by: ampu on May 04, 2021, 05:12:38 PM
Probably the decentralization from this cryptocurrency. There is no one complete owner of the project. Bitcoin is operated by miners, programmers, and users.
Bitcoin has gone through hard forks and only the original Bitcoin exists. Bitcoin is always 1MB per block. This makes Bitcoin slow and costly compared to hard fork counterparts.
Today's altcoins have better technology than Bitcoin, but they will not be able to achieve the same degree of decentralization as Bitcoin.


Title: Re: What is the Reason BTC must be so slow?
Post by: Hannahanto on May 04, 2021, 05:22:23 PM
Bitcoin transactions are slow because of the design. Now you're sounding like you have an issue with bitcoin or satoshi himself. Don't forget the amount of coin you send goes to bitcoin miners and it's added to their unconfirmed transactions and later moved as blocks, 1 block is mined every ten minutes so if your transaction fee is high you may likely get faster transaction confirmation. It's just the way the coin was design so no need to compare with bnb and xrp, you know you can sell all your holdings and move to those other coin if you feel it's stressing you or you're tired of the slow transaction process. No need to panic


Title: Re: What is the Reason BTC must be so slow?
Post by: molsewid on May 04, 2021, 05:30:01 PM
Probably the decentralization from this cryptocurrency. There is no one complete owner of the project. Bitcoin is operated by miners, programmers, and users.
Bitcoin has gone through hard forks and only the original Bitcoin exists. Bitcoin is always 1MB per block. This makes Bitcoin slow and costly compared to hard fork counterparts.
Today's altcoins have better technology than Bitcoin, but they will not be able to achieve the same degree of decentralization as Bitcoin.
Since you said that bitcoin is operated by miners, programmers, and users. Maybe these are probably the reasons bitcoin will/must be so slow. But, I believed it's normal it became slow sometimes. Let's see it's the way we see the rate of bitcoin. Sometimes it's getting higher and sometimes it's getting slower. There is no perfect life and also there is no perfect business. The decentralization of bitcoin is superb so we don't need to worry a lot.


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 05, 2021, 06:43:46 AM
Gas fee had dropped a lot unlike a few weeks ago. The standard fee is around 25 gwei which will validate an ethereum transaction within 5 minutes or even earlier.


It’s laughable, because despite Ethereum’s fast confirmation between blocks, and its miners deciding how large the blocks  should be as limited by Gas, it’s fees still have become very expensive.

I believe it’s a hard lesson that maintaining in blockchains, and for it to incentivize itself to work, there has to be “cost”.
Yeah, I would agree with that. There's really the side effect of taking that quite high cost that needs to be incentivized for the sake of miners but it's exciting once it's go on full pos.


There are some people in Twitter that are complaining that the Ethereum code fork, the more centralized, Binance Smart Chain is currently having high fees in moments of high transaction volume. Plus there has to be some value to incentivize the authors of the blocks to keep everything in a closed loop and sustainable. Nothing can run for free. Few try to understand why Bitcoin works.

Quote

Quote
Whilst for a bitcoin transaction, a low priority transaction will cost you an estimation of 24 sat/vb as per https://mempool.space/

It’s actually lower. It will cost a user 5 sat to have your transaction in the next 2 or 3 blocks, but probably also the very next block, https://jochen-hoenicke.de/queue/#BTC%20(default%20mempool),24h,weight
Thanks, data for both sites differs.


Different nodes, different mempools. 8)


Title: Re: What is the Reason BTC must be so slow?
Post by: slaman29 on May 05, 2021, 07:53:54 AM
It’s laughable, because despite Ethereum’s fast confirmation between blocks, and its miners deciding how large the blocks  should be as limited by Gas, it’s fees still have become very expensive.

I think every alt who ever said "we're cheaper and faster than BTC" should be very careful of what they claim. ETH has for sure learned this but many other alts still want to proclaim the same thing.

Forget security and forget that when people all come on board, you face new problems.

And no new solutions other than block size haha.


Title: Re: What is the Reason BTC must be so slow?
Post by: danherbias07 on May 05, 2021, 08:24:40 AM
Teach satoshi. ROFL. This dude. Reading all his comments makes me shiver a bit.
He says he doesn't know much but with his inputs is like he did his research but lacks reading comprehension and history.

You just hated the transaction fees and speed and you went deeper like a mad man.
There is a time Bitcoin was the number 1 there and this new cryptocurrencies just found that flaw and made their own with a lot cheaper price.
Who knows, maybe they are also the ones that clogged the network for their coins to be seen. It's a good strategy, risk some capital making Bitcoin look bad for billions of dollars in return.

Not accusing, just speculating.


Title: Re: What is the Reason BTC must be so slow?
Post by: cryptoboss2020 on May 05, 2021, 10:15:07 AM
Teach satoshi. ROFL. This dude. Reading all his comments makes me shiver a bit.
He says he doesn't know much but with his inputs is like he did his research but lacks reading comprehension and history.

You just hated the transaction fees and speed and you went deeper like a mad man.
There is a time Bitcoin was the number 1 there and this new cryptocurrencies just found that flaw and made their own with a lot cheaper price.
Who knows, maybe they are also the ones that clogged the network for their coins to be seen. It's a good strategy, risk some capital making Bitcoin look bad for billions of dollars in return.

Not accusing, just speculating.


Every old Will die one day.
Btc is old and btc funerals not far away.
Eth xrp Will replace btc I Think


Title: Re: What is the Reason BTC must be so slow?
Post by: swogerino on May 05, 2021, 12:35:37 PM
Bitcoin is still the king and will continue to be,I don't see a Bitcoin funeral anytime soon.You are comparing the king of decentralization with the kings of centralization,Xrp is the crypto of banks and Bnb the coin of the Binance exchange.Surely these two coins are the least threat to Bitcoin.For me it is not slow as long as you pay the recommended fee which many of us here do.


Title: Re: What is the Reason BTC must be so slow?
Post by: kryptqnick on May 05, 2021, 12:57:50 PM
And what is so big problem with that "centralized"?
As Long as the coin works and goes Good I Don't see the problem.
If that's what you believe, why use cryptocurrencies at all? Fiat works perfectly fine, the fees are miniscule and transactions are fast if only we're not talking about big sums or money or about international transfers. Why do you even need something like XRP when you can use your bank account to transfer money?
Being decentralized is a big part of what being a crypto means. The price and the market in general isn't controlled by any single entity, so there's a higher level of financial freedom that with ANY fiat currency. But that comes with its own issues, such as occasionally expensive fees.


Title: Re: What is the Reason BTC must be so slow?
Post by: jossiel on May 05, 2021, 01:14:07 PM
Yeah, I would agree with that. There's really the side effect of taking that quite high cost that needs to be incentivized for the sake of miners but it's exciting once it's go on full pos.

There are some people in Twitter that are complaining that the Ethereum code fork, the more centralized, Binance Smart Chain is currently having high fees in moments of high transaction volume. Plus there has to be some value to incentivize the authors of the blocks to keep everything in a closed loop and sustainable. Nothing can run for free. Few try to understand why Bitcoin works.
What's happening to Ethereum might happen for those chains that have also been having network issues. At first, they're good as an alternative.

But as the same as Ethereum when they get crowded and clogged, they'll also be experiencing the issue that have experienced by Ethereum and as well as bitcoin.


Title: Re: What is the Reason BTC must be so slow?
Post by: masterrex on May 05, 2021, 02:55:30 PM
I'm not against the use of Bitcoin in fact it was my first known investment coin when I'm entered into the crypto space but if we compared in 2015 and today the Bitcoin has changed a lot not just in the price aspect but also in the two important functions the "transaction cost and the transaction speed" and I think it is not bad to ask the developers to fix or to enhance this primary functions of Bitcoin like it was before, the problem is It's getting worst the more Bitcoin price has skyrocketed the problems have also surface they say that LN was the solution but until now it is not widely used. Is there any hope to make Bitcoin better again just like before or we Bitcoin users are needed to endure this problem and wait until the solution will arrive. just asking ???


Title: Re: What is the Reason BTC must be so slow?
Post by: ampu on May 06, 2021, 03:24:35 AM
Probably the decentralization from this cryptocurrency. There is no one complete owner of the project. Bitcoin is operated by miners, programmers, and users.
Bitcoin has gone through hard forks and only the original Bitcoin exists. Bitcoin is always 1MB per block. This makes Bitcoin slow and costly compared to hard fork counterparts.
Today's altcoins have better technology than Bitcoin, but they will not be able to achieve the same degree of decentralization as Bitcoin.
Since you said that bitcoin is operated by miners, programmers, and users. Maybe these are probably the reasons bitcoin will/must be so slow. But, I believed it's normal it became slow sometimes. Let's see it's the way we see the rate of bitcoin. Sometimes it's getting higher and sometimes it's getting slower. There is no perfect life and also there is no perfect business. The decentralization of bitcoin is superb so we don't need to worry a lot.
Decentralization is the most expensive Bitcoin we are aware of.  Bitcoin operates completely by the community and has a long history of development.  Bitcoin has been accepted and noticed by wealthy centralized institutions.  Bitcoin is becoming the world's new store of value.
We do not need too modern technology, at present Bitcoin is acceptable to everyone's needs.


Title: Re: What is the Reason BTC must be so slow?
Post by: maxreish on May 06, 2021, 05:31:54 AM
As bitcoin is the King the first crypturrency that was created. Of course there is always negative side of such coin like bitcoins slow movement of transactions and higher fees. That is why they created altcoins that can be alternative to solve those glitch from bitcoin like xrp, trx and ltc whose fees are lower than  bitcoin.

But then again, most of the investors are  choosing what is most promising coin which is bitcoin. Regardless of the negative side of it like transaction speed, we cant deny the fact that  bitcoin gives massive profits than others.


Title: Re: What is the Reason BTC must be so slow?
Post by: lifeforcepools on May 06, 2021, 07:21:17 AM
And what growth rate did you expect? No one asset has doubled in value as quickly as btc.


Title: Re: What is the Reason BTC must be so slow?
Post by: Saltius on May 06, 2021, 07:45:37 AM
Being slow is a cost for one kind of permissionless assets.

The most important scarce resource is legitimacy?  My ass!


Title: Re: What is the Reason BTC must be so slow?
Post by: Ebede on May 06, 2021, 08:24:20 AM
Being slow is a cost for one kind of permissionless assets.

The most important scarce resource is legitimacy?  My ass!
When you say Bitcoin is so slow what does it mean? Does it mean that Bitcoin price is getting slow or the transaction fee is getting so low too, because this have to be categories for we to understand the main point, like now I'm totally confused about the low and high of crypto currency at all, normal novice always ask questions.


Title: Re: What is the Reason BTC must be so slow?
Post by: Ararbermas on May 06, 2021, 09:12:02 AM
Btc and Eth is currently overloaded "i don't know if that's the correct term" but its the common reason why their transaction is very slow especially if you just put a small fees on it. If you want to avail smooth transaction mate such BNB and etc. Then set your fees in a high amount because that's the only way to have a smooth transaction.. I have tried actually and its so expensive. Lol so i decide to covert it first to other asset before sending to another wallet to lesser the fees.  I use XRP to XRP actually..


Title: Re: What is the Reason BTC must be so slow?
Post by: Newlifebtc on May 06, 2021, 11:55:55 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!

All those will be fixed with time,but also note that the awareness increases on the daily and a lot of people are using it now,since there are more patronizers or users now,one might be observing a little daily from time to time before it will be completely fixed


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 06, 2021, 12:15:32 PM
Yeah, I would agree with that. There's really the side effect of taking that quite high cost that needs to be incentivized for the sake of miners but it's exciting once it's go on full pos.

There are some people in Twitter that are complaining that the Ethereum code fork, the more centralized, Binance Smart Chain is currently having high fees in moments of high transaction volume. Plus there has to be some value to incentivize the authors of the blocks to keep everything in a closed loop and sustainable. Nothing can run for free. Few try to understand why Bitcoin works.
What's happening to Ethereum might happen for those chains that have also been having network issues. At first, they're good as an alternative.

But as the same as Ethereum when they get crowded and clogged, they'll also be experiencing the issue that have experienced by Ethereum and as well as bitcoin.


BUT Bitcoin has none of the risks of scaling in as long as the block size are capped, and regulated. How much would it cost in bandwidth, hard drive space does a user need to sync an Ethereum full node from scratch? It will obviously be more expensive than a Bitcoin full node.


Title: Re: What is the Reason BTC must be so slow?
Post by: wiss19 on May 06, 2021, 04:05:05 PM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
Even at that, I still think that a lot of people here will choose bitcoin over Binance. A high fees for transactions is something that we experience a lot of times in the cryptocurrency world, we have seen a lot of people try to come up with solutions as to how the problem solved, but nothing has really been done about it, except lightening network which nobody uses.

Compared to the coins that you have mentioned here, bitcoin has more usage when it comes to being used for transactions, that’s to show you how much that nobody cares about those coins.


Title: Re: What is the Reason BTC must be so slow?
Post by: pawanjain on May 06, 2021, 04:16:33 PM
Decreasing block time to get faster confirmations doesn't actually solve the problem. Drop the block time to 1 minute, and you now need 10 confirmations to be as secure as a transaction with 1 confirmation at the moment. That's why coins like Litecoin or Bcash might seem fast, but actually days to reach the same security that bitcoin does in 6 confirmations. Not to mention problems with higher rates of conflicting blocks, stale blocks, double spends, etc.

That seems weird because Solana has 0.4 seconds block time. Does it means it is less secure ?
I am not promoting any coin here but it's a genuine doubt.
I know that the number of confirmations needed would be more since the block timing would be less.
But how will it be "less secure" if the block timing is less ? I am not sure how secure Solana is  ???


Title: Re: What is the Reason BTC must be so slow?
Post by: Flaytecnologia on May 06, 2021, 04:51:30 PM
 Btc e atualizavel logo ficará rápido!


Title: Re: What is the Reason BTC must be so slow?
Post by: o_e_l_e_o on May 06, 2021, 07:19:41 PM
But how will it be "less secure" if the block timing is less ? I am not sure how secure Solana is
I have never heard of this altcoin before so cannot comment on specifics, but it is simple math.

The difficulty of bitcoin is set so on average we find a block every 10 minutes. Let's say (for simplicity's sake) we have 100 exahashes per second (EH/s) in total hashrate, and that is what we need to find a block every 10 minutes. This works out to 100 exahashes per second * 60 seconds * 10 minutes = 60,000 exahashes per block.

You now drop the difficulty so we find a block every minute. We still have 100 EH/s, but this now works out to 100 * 60 * 1 = 6,000 exahashes per block.

If you want to reach the same level of security as one old confirmation (i.e. 60,000 EH), then you will need 10 confirmations on your new chain.


Title: Re: What is the Reason BTC must be so slow?
Post by: KryptoKings on May 06, 2021, 07:56:41 PM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
BTC transaction takes longer time if you sending with low fees. I have sent it from binance to exchange and it didn't take more than 5 mins.
Sometimes network congestion can also delay but it is still not more than 5-6 hours.
You can try Wbtc to send btc and again convert it to btc when you need.


Title: Re: What is the Reason BTC must be so slow?
Post by: Kong Hey Pakboy on May 07, 2021, 10:52:33 AM
I don't think Bitcoin is slow. Look at the charts and you will understand that the price rise is very rapid.
Maybe the reason that OP thinks that bitcoin is slow is because there were runs in the market where the increase only took days or within weeks but right now it feels like the prices are going slow in terms of going up in prices. I feel like it is slow for me but I think that it is a good thing because you have a bigger window of time to buy bitcoin at lower prices because it has been speculated that it will go up and you don't want to be missing if it ever happens.


Title: Re: What is the Reason BTC must be so slow?
Post by: Chato1977 on May 07, 2021, 10:58:45 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Slow? i did not notice as i send Bitcoin today.
Quote
Bnb and xrp Nice cheap and smooth.
Then Use those coin , no one is preventing you right?

Quote
And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 
You have too much complaints lol.

Quote
What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
Have you seen Satoshi still active?


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 07, 2021, 11:23:19 AM
But how will it be "less secure" if the block timing is less ? I am not sure how secure Solana is


I have never heard of this altcoin before so cannot comment on specifics, but it is simple math.


It’s another shitcoin platform “secured” by Proof of Stake. Very flawed security assumptions.

What newbies don’t understand, and why they think Bitcoin is “slow”, is because it’s about the settlement assurances. One confirmation in Bitcoin is worth more than the security assurances of ALL shitcoins.


Title: Re: What is the Reason BTC must be so slow?
Post by: adzino on May 07, 2021, 11:38:16 AM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
Those coins that you are talking about are centralized and controlled by some people. BNB and XRP to be exact. They can change anything they want according to their own will. I have also heard that USDT is somewhat centralized and your wallet can be frozen.
BTC is completely decentralized. Slow confirmation and high fee mainly happens due to network being underload. By underload I mean high traffic. Block size r limited, hence the miners can't put in all transactions in one block. If you want to get your transaction included in the block, you will have to prioritize it by paying high fee. Now if you want to change the block size, you will have to change the protocol. Since it is decentralized just one person can't change it. A greater portion of people must agree to the change for this to happen.


Title: Re: What is the Reason BTC must be so slow?
Post by: Marvelman on May 07, 2021, 01:07:38 PM
Every old Will die one day.
Btc is old and btc funerals not far away.
Eth xrp Will replace btc I Think

Of course, we will all die at some point. Only Bitcoin, I believe, will outlive us both.
Of all the candidates, you choose those two? LOL, it will never happen!


Title: Re: What is the Reason BTC must be so slow?
Post by: imstillthebest on May 07, 2021, 01:24:09 PM
i dont feel a slowdown because i pay high for my fee .
 if you feel a slowdown why dont you increase your fee the next time you send a btc . that should solve your problem but dont expect instant transfer just because your now paying high because btc is not xrp and other coins that dont have a problem when it comes to transfers . sending regular eth has an expensive fee not only for erc20 but when it comes to processing time eth also have delays  .
this two coins are not for you if your a perfectionist


Title: Re: What is the Reason BTC must be so slow?
Post by: Kelvinid on May 07, 2021, 01:46:48 PM
i dont feel a slowdown because i pay high for my fee .
 if you feel a slowdown why dont you increase your fee the next time you send a btc . that should solve your problem but dont expect instant transfer just because your now paying high because btc is not xrp and other coins that dont have a problem when it comes to transfers . sending regular eth has an expensive fee not only for erc20 but when it comes to processing time eth also have delays  .
this two coins are not for you if your a perfectionist
If we take the highest priority, then we have to pay high as well.
But unfortunately, not all have the guts to pay $20 just to move Bitcoin that valued only at $50 or even $100 just like you. The fact that paying the minimum fee is still accepted, I'd rather have to choose it and I'm willing to wait until it confirms.

But OP what to have an instant confirmation which is not evident this time. Because even you pay beyond the minimum and take the highest priority it still takes a few minutes to confirm and the reason why? It is because the blockchain network is facing huge transaction demands and you are not the only person who did and pay high.


Title: Re: What is the Reason BTC must be so slow?
Post by: imstillthebest on May 07, 2021, 02:19:33 PM
i dont feel a slowdown because i pay high for my fee .
 if you feel a slowdown why dont you increase your fee the next time you send a btc . that should solve your problem but dont expect instant transfer just because your now paying high because btc is not xrp and other coins that dont have a problem when it comes to transfers . sending regular eth has an expensive fee not only for erc20 but when it comes to processing time eth also have delays  .
this two coins are not for you if your a perfectionist
If we take the highest priority, then we have to pay high as well.
But unfortunately, not all have the guts to pay $20 just to move Bitcoin that valued only at $50 or even $100 just like you. The fact that paying the minimum fee is still accepted, I'd rather have to choose it and I'm willing to wait until it confirms.

But OP what to have an instant confirmation which is not evident this time. Because even you pay beyond the minimum and take the highest priority it still takes a few minutes to confirm and the reason why? It is because the blockchain network is facing huge transaction demands and you are not the only person who did and pay high.
high priority isnt 20$ everytime and depending on the wallet provider the high prio fee can get lower than 20 $  .
im not willing to pay a high fee if im sending small amounts of btc because to me its not worthy but if in emergency situations and i need the money in a fast possible time i will take that .
 op is demanding and he wants other coin developer to comunicate with satoshi and fix this problem . thats a disrespect for a person that is peacefuly resting


Title: Re: What is the Reason BTC must be so slow?
Post by: o_e_l_e_o on May 08, 2021, 10:43:18 AM
One confirmation in Bitcoin is worth more than the security assurances of ALL shitcoins.
Yup. I like showing newbies the site https://howmanyconfs.com, which shows just how insecure some altcoins can be. The next time someone speaks about how "fast" Bcash is, you can remind them it takes almost 300 Bcash confirmations over several days to be as secure as 6 bitcoin confirmations. Also explains why most altcoins have been successfully 51% attacked.

because btc is not xrp and other coins that dont have a problem when it comes to transfers
XRP and other centralized coins have huge problems when it comes to transactions. They trade security for their speed. Your transaction might be fast, but it can be censored or frozen at any time.


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 08, 2021, 11:26:07 AM
One confirmation in Bitcoin is worth more than the security assurances of ALL shitcoins.

Yup. I like showing newbies the site https://howmanyconfs.com, which shows just how insecure some altcoins can be. The next time someone speaks about how "fast" Bcash is, you can remind them it takes almost 300 Bcash confirmations over several days to be as secure as 6 bitcoin confirmations. Also explains why most altcoins have been successfully 51% attacked.


Plus shitcoins are OK to be 51% attacked because they don’t truly matter. They can surge back up in price and traded for profit, but not Bitcoin. Bitcoin is the leader, “the king”, if it is successfully 51% attacked, it will be a symbolic failure of the feasibilty of cryptocurrency as an alternative to traditional finance.


Title: Re: What is the Reason BTC must be so slow?
Post by: o_e_l_e_o on May 08, 2021, 12:08:25 PM
Plus shitcoins are OK to be 51% attacked because they don’t truly matter.
Most of the time the people buying these coins either don't understand the significance of these coins being successfully 51% attacked, or maybe they just don't care. Take this thread as an example. People talking about using XRP or BNB because they are faster without realizing these coins are centralized, and the risks that this brings. Just like people who buy Bcash because it is cheaper, turning a blind eye to the fact that Bcash miners have reversed transactions in the past because they disagreed with them.

If I want to give up security, decentralization, censorship resistance, etc., in return for speed, then I'll just use fiat. At least if the bank reverses my transaction, I can phone them up and figure out the problem. If a bunch of Bcash miners decide to reverse your transaction, then there is nothing you can do about it.


Title: Re: What is the Reason BTC must be so slow?
Post by: South Park on May 08, 2021, 04:42:56 PM
What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!

All those will be fixed with time,but also note that the awareness increases on the daily and a lot of people are using it now,since there are more patronizers or users now,one might be observing a little daily from time to time before it will be completely fixed
The lightning network is going to help with that but right now there are not many places where you can use it, we must recognize that on-chain transactions are always going to be expensive which is why the second layer was created to help alleviate this problem, it is going to take time but this is going to get resolved, it is as if people still forget that bitcoin is a project in progress and that it will take some time to fix the problems the network is facing right now.


Title: Re: What is the Reason BTC must be so slow?
Post by: jpnl0006 on May 08, 2021, 11:58:51 PM
Congestion in the network has always been the reason why it is slow which means that more than enough people are on it and the design capacity was not meant to carry more than 7 transactions per second


Title: Re: What is the Reason BTC must be so slow?
Post by: ILuckyGuyI on May 09, 2021, 09:12:01 AM
The reason is simple in fact. The number of people who make transactions on the BTC network has increased at a very high rate in the recent times. It caused the transactions to be slower than ever and also fees have become much higher than before.


Title: Re: What is the Reason BTC must be so slow?
Post by: MrcMrc on May 09, 2021, 09:36:44 AM
A centralized chain such as the smart-chain may be cheaper in terms of fees and faster in sending count between addresses but comes with its vulnerability which is it's not decentralized and can be traced and the owners can do whatever they wished with your fund in the wallets.


Title: Re: What is the Reason BTC must be so slow?
Post by: Wind_FURY on May 10, 2021, 06:45:37 AM
Plus shitcoins are OK to be 51% attacked because they don’t truly matter.
Most of the time the people buying these coins either don't understand the significance of these coins being successfully 51% attacked, or maybe they just don't care. Take this thread as an example. People talking about using XRP or BNB because they are faster without realizing these coins are centralized, and the risks that this brings. Just like people who buy Bcash because it is cheaper, turning a blind eye to the fact that Bcash miners have reversed transactions in the past because they disagreed with them.

If I want to give up security, decentralization, censorship resistance, etc., in return for speed, then I'll just use fiat. At least if the bank reverses my transaction, I can phone them up and figure out the problem. If a bunch of Bcash miners decide to reverse your transaction, then there is nothing you can do about it.


It’s OK for anyone to use ANY cryptocurrency for their requirements, but to say a shitcoin is “better” than Bitcoin because it’s simply “faster”, is a mistake, and has shown that the poster has not done the proper research YET. Although, maybe Bitcoin overshot the security requirements to become a reliable cryptocurrency, it’s still better to over-shoot security than under-shoot.


Title: Re: What is the Reason BTC must be so slow?
Post by: CamilleRoux on May 10, 2021, 11:41:03 AM
Bitcoin transfer times can take as little as 10 minutes to hours, days, or even more than a week. This is mainly because miners have to verify the transactions, and the network can lag sometimes.


Title: Re: What is the Reason BTC must be so slow?
Post by: yazher on May 10, 2021, 11:46:01 AM
You need to consider the good things even though bitcoin transactions possess that kind of attribute. There are some good things about it and if you want to get as fast as possible the only way is either you guys trade in the known exchanges or you need to pay a higher fee for a transaction. But the good thing about bitcoin is, it still decentralized and it means, no one can interfere with your bitcoins and your transactions except you. Unlike the coins you are talking about, one move from its creator and they will all dissapear from your wallet.


Title: Re: What is the Reason BTC must be so slow?
Post by: elisabetheva on May 11, 2021, 04:46:40 AM
You need to consider the good things even though bitcoin transactions possess that kind of attribute. There are some good things about it and if you want to get as fast as possible the only way is either you guys trade in the known exchanges or you need to pay a higher fee for a transaction. But the good thing about bitcoin is, it still decentralized and it means, no one can interfere with your bitcoins and your transactions except you. Unlike the coins you are talking about, one move from its creator and they will all dissapear from your wallet.
I think everything that is wanted to be done quickly has consequences that must be paid, in order to get the what we want . It is only natural that with the high present value and large enough traffic, something will happen which will be disturbed by everything we are going to do.

but as long as the transaction we do is safe, of course we will use it, even though it seems a bit expensive and slower.
it could be that we give more costs to be even faster so it depends on us too.
but it is not the main thing if we believe that what we are going to transact can be guaranteed its safety compared to us using others that we cannot necessarily get.


Title: Re: What is the Reason BTC must be so slow?
Post by: South Park on May 12, 2021, 04:20:08 PM
It’s OK for anyone to use ANY cryptocurrency for their requirements, but to say a shitcoin is “better” than Bitcoin because it’s simply “faster”, is a mistake, and has shown that the poster has not done the proper research YET. Although, maybe Bitcoin overshot the security requirements to become a reliable cryptocurrency, it’s still better to over-shoot security than under-shoot.
That just shows a lack of foresight, people for the most part only care about their particular problematic and whichever coin can solve it on the best way possible is the best coin on their mind, they do not understand that a lot more is needed to declare a cryptocurrency to be the best and it is obvious that bitcoin is the best coin out there and it is not even close, now without a doubt the issue of the confirmation speed can be a problem sometimes but it is just something that happens occasionally and you can avoid it most of the time.