Bitcoin Forum

Just watching blocks on blockchair.com... where are the lower fees that should have come with segwit? Just not getting it. And mempool isn't cleared... Blocksize isn't 1.7 MB, but still 1 MB.

Can someone expalin what's happening?

My thought that the segwit implemented not yet finished, But the transaction fees doesn't make sense for all of the bitcoin users. I just try to see the latest chat in bitcoin21 but seems there is no a lot of transaction in this time, that was pretty strange.

To decrease the fees, you have to send SegWit transactions.  Basically you need to move your funds to a SegWit-compatible wallet with the new type of address.

The transactions that you send would then be smaller and have lower fees.

If most of the major wallets start using SegWit transactions over the next few weeks, you can expect the blockchain to become less congested, so legacy transactions would cost less as well.

In addition to that, I'm not sure whether you're actually going to see an increase in blocksize, as the witness data is not part of the "official" blocksize anymore. You should however see an increase in transactions per block, once the amount of SegWit transactions increases.

Fees will be extremely low soon when bitcoin price crashes as the bitcoincash team will reorganise the core chain to send the segwit coins to themselves.
They already have almost a majority of the mining power on their network. It's only going to get worse for core coin, not better.

folks, BUY
kwuck is back ;)

The only thing I'm buying is OMG and KNC (Kyber ICO), not bitcoin. Even if bitcoin went to 50k in a year (over 1000 %, not that impressive in crypto world anymore), it wouldn't make anyone rich like owning OMG/KNC.

Stop supporting some random ICO which you might have in your bags. Bitcoin is still most profitable coin in long term, all those alts and ETH based tokens are just vapour and support for them can disappear in very short time.

Buying any of such tokens is just a risky investment.

Blocksize will be increased when segwit2x will be activated in november (if bitcoin core will agree on it) till than even after segwit activation blocksize will be 1 mb.

OMG and Kyber... random ICO... okay... then we have nothing to talk about, if you say it's some random ICO.

Stop dehonesting everything u don't know, because in fact... you don't know much as u proved by saying random ICO. You're probably only invested in Bitcoin community and your view is very narrow.

For me it's more risky to invest in bitcoin... while we have bitcoin cash and segwit2x coming (miners won't care about Blockstream developers to approve them segwit2x, lol, where did u get that one?)

Anyway... even if bitcoin had 10,000 % rise in 3 years, I would probably have 1,000,000 % rise during the same period.

People like you will be here forever, because for most of the people... bitcoin is an entry and endpoint of their crypto knowledge. People like u were saying exactle the same thing when Ethereum showed up.

So, the point of your questions about segwit and fees just for point out your choice of altcoins?
It's up to you to invest in some altcoins that you consider will be profitable someday, but bitcoin still has its supporters, much more than OMG and KYC investors who will dump those coins if it reach certain price.
I am expecting segwit could be works, but let's see what will happen, not heard anything about it yet.

You apparently know shit about OMG... otherwise you wouldn't say that people will dump that.

People will dump NEO for example, because it has incompetent developeres behind the project who can't do proper version control and consider Windows platform and C# to be a good tool, lol.

As I noticed segwit activation does not support the bitcoin and block segregation. Since blocks and network of mining has been increased to more number fees is not possible to access from our pocket. I expect fees which was on the time last year halving. Even August 23 block increase move also not worked towards the favour of bitcoin.

I thought also that there will be the changes about the fee and the network speed but since we are still not heard what actually helps of segwit for bitcoin i think better to wait and maybe segwit still not started to be effective in the network..
For now as i can seen that the bitcoin fees before the segwit activation activated was increased and hope that we will see the changes in few days  ..
Altcoin for me is not recommend for best alternative you are just also wasting fees when converting into altcoin..

If you would be following segwit and real bitcoin or know how segwit works you would understand what's happening but you are too busy getting paid by your boss for spreading fud  ;D

Yes, segwit was not about increasing the block-size but to shrink the size of transactions. That's why it was being call as soft-fork.

Probably we are going to see more number of transactions per block where as block size will be the same 1000 kB hence we can expect lower transaction fees as there will be no delay for confirmations. This will be another witness, we are going to experience due to segwit activation.

And most people won't bother to move to a segwit compatible wallet because it's just too complicated. People like things simple and easy. What's why larger blocks were the best solution, because it required no effort on the part of the user.

So... what's going to happen is that most users will never send their money to segwit address and just use the legacy one... also money wallets will not support segwit. So basically nothing will change and Bitcoin Cash will win, ok :D.

You aren't here to converse with others about what should be done to make use of Segwit transactions, but purely to make fun of people not being aware of how things work, where you're even trying to spread fud. People aren't forced to make use of Segwit transactions if they don't want to - that's not very difficult to understand, right? Bitcoin Cash is just an empty project being kept up by a bunch of wealthy-delusional-individuals. No one in his right mind would ever put trust or his money into something so not worthy as Bitcoin Cash. You're desperately trying to immitate kwukduck, but at least he has a set of brains far ahead of what you have.

Why are you so sure about this?

Soon most of the wallets will start supporting segwit but it might take few time for transition of normal bitcoin users to segwit address from usual legacy one.

users have everything on their bitcoin legacy address... they dont care about sending it to a NEW segwit address. Users dont care about segwit.

SegWit has just been activated! Why can't you just wait for a few months to go by in order to judge on whether or not people are really making use of SegWit transactions? It makes no sense to jump in and start saying that people don't care about SegWit. Let me put it like this -- how are you going to act in the coming days or weeks? Will you make use of SegWit, or just remain using Bitcoin as if nothing has changed? I definitely will start moving all my funds in order to benefit from what SegWit has to offer. I only don't see any point into rushing things, and so are others likely thinking as well.

We already have litecoin... and almost no one uses it. Bitcoin Cash or segwit2x might be the future, but Core shitdevelopers don't agree with 2x, guess who'll wins (hint: core won't).

It sure as shit won't be Bitmain Cash.You can cry your ugly ass all you want but it doesn't change the fact that BCH is pump and dump shitcash.Better try your luck at r/btc? Those trolls will actually listen you there.It's just 1 day since activation of segwit and how you are crying clearly shows your intentions(FUD).You don't understand shit about how segwit works and come here on schedule to spread fud.Why don't you ask your boss to come and post too instead of paying you for doing his work lol?  ::)

Hi Guys,

In terms of transactions fees - I just sent a large transaction on the Bitcoin Cash network.

Transaction happened almost instantaneously, fee was only $0.02.

The same amount on the now activated Segwit Bitcoin network. Fee is = $6.90

This really concerns me. I really do hope Segwit resolves this issue soon. It could see a large amount people shift to BCC in a short amount of time.

Most here, even with legendary accounts do not understand how things will work. Just creating fud. Nothing more.

segwit won't resolve this overnight, and more importantly, it can't solve the issue of spam. highly secured, distributed storage (in addition to transfer of value) comes with a cost, and demand is high. unfortunately, a lot of users have this mentality where they are like impatient kids in the back seat of the car screaming, "are we there yet?!"

it's sensible that people are being cautious about moving their inputs to segwit addresses. major wallet providers like electrum haven't released their segwit-compatible wallet yet. it will take time for segwit's capacity increase to be felt. more importantly, the one-time capacity increase isn't a fix for this congestion. we need layer 2 solutions like sidechains and LN for that.

So one has to send to new segwit addresses in order to use segwit? did not know anything about that.

If that is the case, it will surely happen slowly. Many people just will use their old-faithful address.

Okay, but how to do the upgrade? At first after segwit I got this feeling that fee was reduced. I sent something which cost $150 at that time, payed something like 70 cents and got transaction confirmed within half an hour. But then about a week ago I wanted to send a small amount of money, worth $10, and had to pay $1 and something for the transaction! I remember that it has always been like that, if you send small sums - you pay more. But this is too much.
If I have a blockchain.info wallet, how can I upgrade to segwit transactions?

i am not a technical guy to understand tech developments but the question after bitcoin forked using  segwit still we get high transaction fee . how that come ? specially from exchange.

SegWit wasn't fully activated until yesterday, so that time you payed the lower fee was during a time of less transaction traffic. There was a timeframe of about 3-4 weeks between mid-Juli and mid-August were the network wasn't as congested as it is right now. That we are currently seeing hashrate oscillations between BTC and BCH doesn't help much either.

Either way we are in a bad situation right now. Let's see how things improve once SegWit transactions become more common. Also LN can't arrive soon enough.

I still see the spam problem and nobody was able to explain it to me yet.
If a majority of the transactions we see at the moment are spam, and segwit needs to be activated by the user, how will segwit help to decrease the mempool?
The guys who make the spam transactions will simply not activate segwit.
Or have I missed something?

According to some users Segwit won't even solve the problem, its just like a band aid for the current problem. transferred $40 and i paid around $8 for the fee. WTF this is why its so expensive to buy bitcoin today.

To be candid, high tx fee is killing. I don't see lower fee in future since adoption rate of bitcoin is very high

I don't think it will be resolved even in a year. Segwit is complicated to use. You need a compatible wallet (and how many people realise that?). Then you need special segwit addresses, and need to send from your existing address to the segwit address, incurring fees, and then from the segwit address to wherever you want to send.

Rule of thumb is that if you make people do too many steps to get where they want, they'll simply take another more direct route.

I think the rationale is that SegWit transactions will be seen as much "lighter" by the network, thus needing less fees than a comparable legacy transaction (eg. all things being equal, a SegWit transaction with a USD 1,- fee would get included faster than a legacy transaction with a USD 1,- fee, as the SegWit transaction looks like it has paid more Satoshis per Kilobyte).

It follows that if you spam the network with legacy transactions, legit SegWit transactions would still take precedence unless legacy transaction spammers increase their network fee by the factor of 4, thus making a spam attack much more expensive (or less effective, depending on how you see it). This means that while the mempool would still be full, it wouldn't really matter all that much since the stuck transactions would most likely be legacy spam transactions anyways.

I don't believe it. There are always arguments in order not to reduce the price of the transaction. The miners are very greedy people. It is their quality prevented to negotiate and reach consensus. They are ready to break bitcoin to a lot of altcoins, but not to compromise.

sorry but this is SO BADLY COMMUNICATED it's so freaking obvious...
even core wallet is not ready to make segwit transactions.

Don't be mistaken, i'm bitcoin believer, but what they are now doing is just slow suicide. Marketing is really needed here, and now it looks like bunch of nerds closed behind dark doors making changes in code which cannot be really used by much people.

Are even people aware that they have to transfer their btc to different wallet?

Let's not talk about people in here, they probably know, but regular Joe? not a fucking clue.

This is all wrong ;/

If people are paying a fee for their transactions, then it isn't spam. Spam is transactions broadcast with no fees. And that stopped a few years ago when they phased out the free transactions thing.

I can see only Ledger supporting Segwit transactions which means that we could pay lower fees with ledger now but still the fee is not as less as it was earlier. I used to pay $0.05 initially in 2015 and now I pay almost $3-$4 for even small transactions like 0.02. Segwit has reduced the fee by 35%.

Good news right there.I paid $10 earlier to send $15 in Luno. It wasn't pleasant at all

That's why bitcoin will probably never become a payment system, only stay a digital gold and some other crypto will take over as a crypto payment system. High bet on Omise and their token that will be used in the SEA area (OMG) by all their customers/merchants that now use Omise's payment system, 2018 they release their own blockchain, everything is backed by Ethereum founders and OMG is the first Plasma project. Eventually everyone will be moved to OMG ($500M money processed every day today by Omise will be moved to OMG automatically) and OMG becoming the first used blockchain technology widely used by people that don't know about blockchain. McDonald's in Thailand already signed for using OMG. Bitcoin is not a future of crypto, but entry and end point for most of the people on this forum that doesn't mean much to the crypto community anymore, because it's too bitcoin-centric.

But if Segwit is activated now, is there any way to become a part of this upgrade? Do I have to do something for it to happen? Or will blockchain.info make transactions have segwit automatically? Can anyone help me with this?
I'm sorry, I haven't found any sufficient explanation of this problem in this thread. What is it about? Why are you saying that most transactions are actually spam?

Different wallets will have different roadmaps on when they are ready to support SegWit. I know that SatoshiLabs are planning to add Bitcoin SegWit support to their Trezor beta-wallet in a few days, so I guess other wallet providers won't be far behind. The way I understood it you'll have to move your BTC to a SegWit enabled address first (starting with a "3", like a multi-sig address) before being able to send a SegWit transaction, so that part of the process will probably be manual and require action on your side.



There's rumour that since that BTC has been under a spam transaction attack since at least the beginning of the year (ie. since the scaling debate started to get serious). Thus making the network seem more over capacity than it actually is. One thing that speaks for this rumor is that the spam attacks subseded late Juli when SegWit (or was it Segwit2x?) locked in.