Bitcoin Forum

Several transactions of mine have gone with 0 confirmations in the past several days.  And some of those I was paying 1.5X or 2X the recommended fees.  Nothing.  Nada.  Zilch.

Bitcoin has gone from being an expensive network to use to a practically unusable network.  I was defending Bitcoin against millions of tards back in 2011 and 2012.  Are they going to have the last laugh on me now?  It pisses me off to actually see some of you defending this too and saying "this is the way Bitcoin is supposed to work".  Umm... NO IT IS NOT .

I have ZERO confidence left in Core and their "developers".  Their network can't handle the slightest bit of volume without totally seizing up.  And then Adam Back is out there with the press talking about Bitcoin vendors and merchants running a tab system??  Really??  You can't do your job properly so you want people to run a tab in BTC??  You saw this coming from 10 miles away and did nothing about it.  Stupid or malicious?... you decide.

I will be converting my remaining BTC to BCH, Dash, XMR and coins that actually work! And coins that have teams that have at least a Grade 7 level understanding of economics, ie.. "when you are at capacity, you open more locations".  And not throw out "but but centralization!!" juvenile red herrings!

Long time Bitcoiner of 6 years here saying, "SEE YA LATER! CASHING OUT NOW!"

It is natural that if the price of goods is so high, then its price will be low later. So, since the price of bitcoin was high, it must be gone to a lower stage.

No it's not slightest bit of volume, it's a huge volume because bitcoin exploded the last couple weeks and it did bring a huge media attention and a lot of new investors

2017 has been a very tough but exciting year for bitcoin. Most of all we got the opportunity to see that how useless bitcoin can be. Yes, the price sky rocketted and with some thats all that matters. If scaling is not prioritised, i see a whole lot of coins overtaking bitcoin. It might have the first mover advantage, but its days are numbered. I wouldnt be suprised if we see 2018 as the year bitcoin gets overtaken.

Yes you are right.  The volume is huge... and they wanted to take Bitcoin mainstream?  How?  Without scaling?  All they are doing is bottle-necking this whole thing and making us all look dumb for ever trying.  Lightning is not coming to save you, it is perfectly clear now that devs never had any intention of scaling.  

That is why the price is decreasing like crazy. Also seems a platform was being hacked. Cash flow are going into altcoins

That is true, we dont know what the hell is happening to bitcoin right now, but this is preocupant for all of us.
And when people sees that the fees are outrageous, they are just moving their money out, to other altcoins, or just cashing out that money.

As far as I am concerned, not surprised at all. It is been weeks and weeks that fees are reaching ridiculous amounts.
Sad to see, but expected.

+1 bitcoin is completely unusable this days,
some people think bitcoin is gold, and not a currency, I think they don't even know about bitcoin's purpose, they forgot satoshi's vision, and guess what, some main developers are on their side!
bitcoin as a crypto gold, that bumps so fast, is not anything more than a HYIP, and what happens to HYIPs? they die because they're nothing more than a dream.
so I'm not at their side, we all started using bitcoin for our transactions, micro or macro, not to store gold,
but now, we can't even pay with bitcoin, so it's useless!

I hope you are wrong.   I love Bitcoin and what it has done.  I hope that Core has not permanently damaged the Bitcoin name.  I hope 2018 can be the year Bitcoin is reborn.

You don't have to go on the attacking mode because he was just expressing an opinion based on the position you have already taken. I don't think you expect that we should beg you to stay? Its a free market where everyone is allowed free exit and entry and if you choose to go for the latter, we can only wish you well which is exactly what he did to the best of his knowledge. Aside that, I don't think you should create a new account just to tell us about your exit strategy.

Whatever you say Mr. Ver.

See ya.

Likewise. Worst state I've ever seen bitcoin in. Looks like it's trying to set new records for highest transaction fee recorded. They did nothing to improve the network to handle all these new users that flocked up.

Been using bitcoin since it was worth 90$ per 1 btc and never have I waited so long to get a simple confirmation of my transfer. Which used to happen in the 1st few minutes with a couple of cents worth of fee's. That's what bitcoin used to be.

Not a crash, just funds switched cryptos from BTC to alts
15-35% drops are regular in BTC
This one wasn't because of a single reason like last few, more of a mix of reasons from different countries
Assumption is US tax reform taking attention this week, S. Korea moving majority volume to Ripple, & positive Ripple new  alts trail BTC usually, but they also do the opposite of BTC when it dips
Cause people don't withdraw their money from BTC to fiat, they just switch it into another coin
Really you just have to watch what Bithumb, Bitfinex & GDAX trends are for where the money is flowing

Well it is people like him and his arrogance ie, "BTC is the one and only crypto" who have really ruined Bitcoin and its orignal intention (sorry it is not and that is a fact not an opinion).  Sorry I dont follow you... create a new account?  This is the same account I've had for a long time.

I am also moving my BTC into the spot where I can put it safe temporarily. due to the high fees it is no joke to make transaction of 6 USD with a 35USD fee.. looks like the core dev is mentioning or promising the thunder network I seen into their blockchain website but it has no update in github since looks like they are fooling us. and maybe it is connected into the news that bitcoin is near its perfection of 25kUSD but I wont risk for that. That perfection they say might be a great demise of the network. So I am with the one with the topic initiator. Bitcoin network now is a monster devourer of high fees..

I am not Roger but I will tell him that you say hi.  I will be taking the coins and hash power with me too...  

Enjoy your useless Blockstream/Mellon Coins while you still can.   ;D

what platform was hacked ?by who?

OP, did you end up cashing out? I'm curious, since I also cashed out around ~$15K/BTC and put some capital into a few altcoins.

How abaut you use some logic....

Since your fees are not getting your tx confirmed it means some people are paying even higher fees to move their coins.
This means people still use their coins, if they would all just move their coins to sell them this queue would have been over in less than two days.

Now, since the blocks are full it means there is still usage so obviously you can't claim BTC is unusable.

And good luck with your altcoins.
The ETH blockchain has hit 500GB already.

I don't understand people complaining about bitcoin and its technology..
For sure, I'm also unhappy with high fees and long transaction time.
BUT: I really believe that, these problems are problems which can be easily solved with Segwit, Lightning protocol and similiar technology.
And this updates will come - earlier or later!
So don't be unpatient and trust the bitcoin dev community :)

The high transaction fees is why I switched to altcoins

Well that was me... the year before last... and then last year... and now it's become apparent to me that they are not going to "fix" this problem.  Actually, they don't even think it is a problem.  Ask Core and they will tell you higher and higher fees are a feature not a bug.  Bitcoin (well BTC) is pricing itself out of existence as we type... 278,000 unconfirmed transactions and rising fast.

I don't think those tards had ever expected Bitcoin to hit the 15 k neither right? Why let this get to you? Don't you think this is just one other dip? Or even the price stabilizing after the all time high? I think its only natural, just HODL a little longer maybe it will go up again anytime soon!

it has actually become somethings else this days ,transactions are been hailed for hours some times not confirmed i pray all should be well because investors are going to clean up there tears with handkerchief  of tears of loss.

This is happening way too often. The whole "BTC is better than normal currency" is starting to look like a gimmick. Functionally it doesn't work at all. Needs a lot more work on conformation times and transaction costs.

I guess you know miners can mine any of the Bitcoin forked coin with standard SHA-256 machine. Currently BCH is extremely profitable to mine due to its price rise. Miners are getting huge rewards in term of USD. So most of them moved to BCH at the moment.
But this is short lived and BCH will decline again. Once it decline, miner will again come back to BTC and fees will again stabilize around 0.0005 BTC.

You might be right, but at the latest if people are switching to altcoins and price of bitcoin will drop over a long period of time, than these people will rethink their decision..
Bitcoin must adapt over time like everything else - only the strong survives!

By the way - it's a great time to buy bitcoin :)

Good luck. It's so obvious that you have no experience and because some issues you think it's the end of the world. Unconfirmed transaction is also something that could be solved. Bitcoin cash has no future, it's just temporary that it "got wings".
Anyway, it's your decision and you can't do whatever you want. I always say to everyone who is complaining if you don't like Bitcoin don't use it, no one is forcing you to do that.

There is a fundamental economic misunderstanding here...   Many believe that Bitcoin can maintain its macro-value without remaining a usable means of micro-payments.

Sorry, it can not.

only a question of time before bitcash is worth more than bitcoin, completely useless and unusable at the moment.
Very soon in the new year bitcoin will no longer be king coin

People burying BTC only because it did a 25% correction?? Don't know, if i see current BTC price, it's up 50% in less than a month, plus the dip correction momentum is almost all gone. There is a good chance that the up trend will restart powering up...

We are all going to die (in my screamy voice)

People are not burying BTC because of a 25% correction in fiat value.  People are burying it because it is because becoming unusable,  And because the people who are now filling up the BTC rank-and-file are very much like the people we sought to get rid of originally by using Bitcoin.

that may be true but what about the other 2,000 crypto

You are correct sir!

I suspect many of the late-comers in BTC haven't even tried to use BTC and know little about BTC, technology or economics.  They bought some BTC, left it on Coinbase (or some other exchange) and they are cheering on a pixel on their screen watching the fiat value increase.

simple. bitcoin is being attacked by the people behind bcash. the attackers are the same people who are mining bitcoin. if core had taken charge of block size increase they might have eased off or because core were still in charge they'd continue attacking. as it's miners doing this then they collect their own fees. if someone else gets their own fees then they still collect the super high ones from hapless users. this means they can continue indefinitely until their stranglehold is broken.

this is all because of the centralisation of mining. if that's broken then maybe we'll be ok. if it isn't then bitcoin will fail and deserve to as well. we're seeing the effects of centralisation and too much power in a small number of hands right now.

anyone moving to bcash is being herded there by the people who are screwing you over right now. they mine all of it. they control development too. i am not giving them control of my money.

you will be doing exactly what they want you to do. the best thing you can do if you want to keep a hand in crypto is head for litecoin or anything else that isn't so politicised and nefarious.

Roger you are very often here. I thought bcshit has its own forum  ;D

I will be heading partially to BCash... which is the original Bitcoin that Satoshi described in his white paper.  That is also the Bitcoin that Core supported before they sold their souls to Bankers & Blockstream.

I urge you to look into Core's constant claims of "BCH is centralized!!" because these are empty, baseless claims.  Core is centralized and is trying to protect their vaunted space in the cryptosphere and censor, ban, intimidate anyone who challenges them.

I will not be going to Litecoin or any other coin that entertains the notion of off-chain gimmickry.  There is a reason Charlie sold when he did, he understands that Segwit/Lightning is a dud.

Merry Christmas!

this is a total insult to anyone with nominal levels of intelligence. i don't even need to write anything. this is all anyone needs to look at to know what centralisation is.

https://cash.coin.dance/blocks/thisweek

antpool, other pools that are pubicly known to be in their pocket, and the majority by an undeclared miner.

kinda hard to guess who that might be. but we can try.

you want to earn without pay. bitcoin jump from 10k to 20k you must have good income and can pay 60$ for fee.

bitcoin is good and fee is acceptable.

Don't you have a fake Satoshi and CIA Gavin to check in with? Enjoy your Paypal 2.0

No. This is not even the worse since there are possible reasons ro this such as the season unlike on the backdrops before which made the value of Bitcoin low. And also, the market price of Bitcoin is still expensive. So there's a huge possibility that its market value will again increase. We only need to be patient to how things are going for Bitcoin now. It is more advisable to invest now since the price is low and hold until its value again, increase.

I think the developers wanted to happen is to make the holders hold their bitcoins so that the growth of the rate of Bitcoin wont drop deep. For me the reason why Bitcoin has a very high fees is to keep the growth of the bitcoin. They also need inputs i dare say.

Hope the price would be stable for the moment to be the fees be lower also. Bitcoin has the big potential to earned anyone big in this cryptocurrency. Just hold into have bitcoin price will recover hopefully.

Another factor that contributed to the high transaction fees would be the massive adoption of bitcoin. The greediness of miners played a part on this. The forks should be there to help and improve bitcoin however it poses more problems than it actually helps. The high transaction fees are really a problem for the users and unless something is done to resolve them, then the crypto users may resolve to invest on other altcoins which offer better features.

I think the fee getting reduced slowly today.So the condition will back to normal soon.But this is most tough days for bitcoin because who bitcoin investors are chocked due to high fee and waiting time for confirmation.

What issue are you talking about during 2012,there was no major issue during those phase in my memory,the network sucks because a couple of days back i tried with a $50 transaction fees and it took over ten hours to get one confirmation and it really sucks to make frequent transactions now,the only solution is lightening network and i am not sure when that is possible.

Op is one hilarious dude. Still find it difficult to understand how this guy accuses bitcoin in such a malicious way even after earning big profits through bitcoin(Said he was a 6 year bitcoiner). This guy is clearly one of the minority who accuses bitcoin for every small thing even after knowing that NOTHING is perfect in this world. Even the king of the crypto world has its own share of cons, but this does not discredit the fact that bitcoin has carried the entire crypto world into a new age of popularity. Think before making big statements people.

Well i guess the network was not ready for the surge of investors. I think a major development to its technology should be done to be able to support its growing investors.

but I dont's see anything wrong with BTC, in fact I think the correction was not huge enough
cause guys, really, don't you see the rise from 7k ot 19.8R was completely artificial?
if we understand that - then it is easy to expect the correction, and it was there. so all is good i think.

What is it saying when a Jr member of this forum is saying that he or she is into Bitcoin for 6 years and you are using a Alt account to QUIT?

In the 6 years that you were around, did you not use this forum? <QUIT with your main account, then we will take you a bit more seriously and while you are at it, sign a 6 year old Bitcoin adress to prove your point>

If you have been in Bitcoin for 6 years, you would have understood what manipulation is going on here and how this "high fee" situation is being fabricated by merchants & miners and people spamming the network.

SegWit was developed as the temporary solution and now nobody is using it and complaining about high fees, whilst using the old legacy adresses. <How fck'ed up is that?>

If you cannot see what is going on now, then you should support Roger Ver and his cheerleaders with BCash. <They are also shortsighted by believing that Block sizes can scale to mainstream adoption>

It cannot even scale to VISA levels. <Do the math>

 

 

Boooo, BTC dropped from 20K to 13K last week...People forget even at 13K it's a monthly increase of over 60%...<g>

1.5x or 2x recommended fee? BS! I've sent half a dozen txs with recommended fee and they've all gone through in the next block.

Guess you'll chicken out when(IF) any of those shitcoins ever have a network to speak of? So many dumbasses without even the most basic understanding of how blockchains work and their limitations. Centralization is a bigger problem than transient pinpricks like tx fee.

Bitcoin has a plan to not only sort out the fee but also secure the network better. Shitcoins, at best, simply rip off Bitcoin's implementations.

It is only because your handling fee is low, I also gradually do not use BTC to make the transfer, most of the time service fee is too expensive indeed is a problem, I will make the transfer through BCH.

If you are really an old Bitcoin user then you should know that coverting your BTC to BCH is not the appropriate solution.
As a Bitcoin believer you should not support greedy developers.
It is just a matter of time before all network problems get solved, and I think using SegWit would be a good start.
Bitcoin will recover soon but in the meanwhile you can use other coins.

No mate, there has been huge volumes on the bitcoin network and it will take some more time to find the appropriate solution. but till then we as a community member have to support the bitcoins. I agree that there has been frustration while make the bitcoins transactions but i hope the situation will be resolved in coming days. So please do not cash out all the coins, at least hold few bitcoins.

But its too much for a people who invest small amount of money. Well this is just the problem of bitcoin right now and I do hope that the incoming fork will address this, and bitcoin will be back on track. Bitcoin will survive and make the transaction fee lower than ever for good.

This year is so far the best for bitcoin because from 1k$ in the beginning of the year to around 14-19k this time, no doubt this is the highest increase on the history of bitcoin. Although this is the best year for the bitcoin, it has been the worst too for me because of many problems that bitcoin can't handle like the high fees and slow tx. I will not surprised if next year, an altcoin will be closer to surpass bitcoin because of a better features of it.

So, I grabbed my shovel and started digging.  C’mon, folks.  Implausible as the melodramatic “long time Bitcoiner of 6 years” from a 30-post Jr. Member account did seem, it takes only one click to see that fonestar’s account was registered 2011-06-03; and a quick check of the blockchain shows that the address in his signature, 16bY6d2wisEZ78pU6UaYf6fedmN4fBhsfF, has been in use since 2013-03-14.  Only a spoon-sized shovel is required to dig up that much.

fonestar’s forum account was shows no posts from 2011 to 2014, and 2014 to December 2016, and December 2016 to December 2017 (with only one post each in 2011 and 2016).  That leaves the question:  Is the account controlled by the same person who registered it?  Of course, the only proof which could be had about the Bitcoin address would be a signature.

As for the account, my conclusion is yes, this seems to be the same individual.  And he’s a flake—surprise, surprise.  Worse than that:  You know those disaffected teenage losers who stop liking a band when it becomes popular?  That seems to sum up fonestar’s mentality.

Back in 2014, fonestar was snidely downtalking the “geezers and goldbugs” on Zerohedge (https://bitcointalk.org/index.php?topic=470593.msg5695296#msg5695296)—where by his own description (http://www.zerohedge.com/news/2014-02-16/bitcoin-greatly-rotating-bullion#comment-4444001), he was trolling:


He had a cheap gimmick of speaking of himself in the third person, as you can see.  It made him seem so super-cool.  No, wait:  It made him sound like a total whack job.

Thus, now that Bitcoin is popular and successful, it is understandable when fonestar says the following.  Evidently, Bitcoiners are the new “geezers and goldbugs” to him; and fonestar himself is now “the Energizer bunny of BCH trolls”:




(By the way, from that last, you can tell how wildly inaccurate fonestar’s information is about everything whatsoever.  Charlie Lee, 2017-01-06: “My Vision For SegWit And Lightning Networks On Litecoin And Bitcoin” (https://segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b)  (“You’ve probably seen that I recently started advocating for SegWit to activate on Litecoin and Bitcoin.”))

---

First reply, and still the best one.  My initial reaction, exactly.

I think they do not know about bitcoin, like gold, even more than gold, because it rises so much faster even a few months ago up to the month now the price is higher, bitcoin currently set a good price, so the transaction costs will be more expensive

This is more or less a personal case. You should know how to transact bitcoin better, and perhaps use a wallet that calculates fees per byte dynamically.  Other than that, I don't think that transaction times should be downplayied on Bitcoin as it is currently normal for fees to be high while transactions are in high demand and the price is rising. Bitcoin will always remain a great store of value.

Because you have too much hope for bitcoin, that's why you become so disappointed. So do not put too much hope into anything in crypto as it can always frustrate you.

I think a faster altcoin getting a confirmation would be an alternative transaction

If you were really using Bitcoin for the last 6 years, you wouldn't have sold your BTC. Do you even use SegWit? I didn't have any problems with long confirmation time thanks to it. I must admit that fees are kinda high. Increasing the blocksize would be a temporary and irreversible solution. We just have to wait for Bitcoin Core to release full support of SegWit. Lightning Network is almost there. Give it a few months.

That's indeed true. The reason why we are surprised bybthis is that we are used of its value to continuously increase. But we shouldnnot worry about this backdrop since it is jist a part of its natural volatility. Transactionsbare just high because of the season. It will sureky increase after this, so continue holding and investing.

AztekPhoenix, that's absolutely right. There already has been a solution: Bitcoin Cash. Bitcoin Cash and Bitcoin should somehow merge again. Some huge decissions like this are necessary to become the world currency.

What site or which wallet are you using? I had done three transaction and each one thousand each, and I paid 12$, 6$ and 1.45$ as fees and they confirmed in less than a hour. I think you should use electrum wallet, I feel that's the best does the work quickly and effectively, not really sure what's wrong but I feel it's only a matter of time before it gets sorted out, just hang on don't loose faith just yet.

Thats funny that you are mentioning it now although these problems have been around all the time and we have known that btc has its issues.
But GOLD also has it issues , no one is paying with it in every day transactions unless you are a war lord.

I believe that price will rise and BTC will remain as asset but we can use other currencies for every day transactions.

why you send when find price of fee high and i think your wallet give you alert.

bitcoin was bad and now it is faster and lower price

Let's see BCH handle the volume Bitcoin does.  ::). Oh wait.

It's easy to talk trash when BCH is nothing but a store of value and not used as anything else.
BTC has utility.
I'll repost the user who had a hard time using BCH and paid a high fee the other day.
There would be more if people actually USED it... LMAO.

you should always allocate your capital , and keep everything in one bitcoin is not entirely correct, as for me, you need to keep cryptocurrency in bitcoin and alternative coins, so less chance of losing everything

naturally...nobody prevents us from choosing the currency that we like, but I agree with you, bitcoin will grow and it's not time to talk about its deplorable state...this is a temporary condition that was foreseen

How come for 30 years your rank is just a junior member if you are in bitcoin for 6 years? Maybe you have lot of accounts. Then if you had a long time when bitcoin faces lot of hardship before then you should be a veteran into this situation now that this is just another failed attempt to crash bitcoin because by next month the rise up begin. I dont believed that you will just easy to drop bitcoin but you will just try to attract people to quit and shift their trade to altcoins for you to benefit.

The fee problem is a huge issue if you want to transact in small amounts, but it that is what you want to do then you are better off using another currency instead and just use Bitcoin as a value store.

People find alternative methods to bypass these problems. We use other Alt coins and Off-chain services for those micro payment, but the final conversion is always back to Bitcoin. You would be a fool not to acknowledge the problems we have now, so you just adapt to bypass the problem.

As soon as SegWit & LN is fully implemented, we go back to Bitcoin <BTC>

I almost lost my trust to bitcoin when fees are getting higher as my transaction was left unconfirmed for almost a week. Maybe the blockchain is just congested now with more and more transactions everyday. But my trust to bitcoin's future remains. I know its price plunges to almost 8K since it went to 20,000$ lately but i still believe that bitcoin is going to come back again and yet will start another run that leads to set a new price high again.

Dont close the door yet. All system have always room for improvement.
I believe they are already working around on it.

Do you people see that the end goal is at the highest point of a slant? That is the thing that issues at last! Whatever good and bad times you need to experience and whatever hindrances are en route you're completing more distant away and higher than you began. In the event that the street to wealth were to be simple we'd have a world loaded with moguls and just sluggish individuals wouldn't go anyplace. Sadly you can work your rear end off and as yet going in circles. It's about the correct choices.

I don't know. Ever since the scaling issues first came to the spotlight, this was the usual response from the core. They were always saying that "they are already working on it". But months and even years have passed by without any real breakthrough. Even loyal users like me are getting frustrated after being forced to pay $100+ transaction fees.

These low prices will only stay up to tomorrow and from 26 of December prices will start to rise and all the complains of people will run away because price will soon shoot up this is because people sold their coins for the profit and this is normal bitcoin will rise again and bitcoin itself has given a Christmas sale to world to get into the community to make money like others do and there is nothing to worry about prices anymore.

I sent a payment this morning with blockchain.info and the average fee was around $12, not too bad if you send the equivalent of $1000, but not too good if you send a small payment (I sent a total of $150). I would not consider $12 a "low fee" anyway. I am replying to guoyu78's comment above me.

Now another question, what will holders too if the price of BTC keeps floating around 12-15k without going higher for 2 or 3 months straight? Ask yourself the question...  perhaps some investors will get interested because the price is more stable (therefore less risky for them), but some others will run away as they may think BTC reached its maximal potential.

Even in this forum there is a sharp change in attitude towards bitcoin. If a month ago it was zealously defended by more than 90 percent of members of the forum, now the number of its supporters has diminished noticeably and bitcoin already scolds cash and even openly they are interested in it as a possible alternative to the original bitcoin. It really became very slow, and commissions for transactions in recent years are off scale. If the lightning network does not help bitcoin in the near future, then its inglorious end awaits.

This is indeed a very sad sentiment especially that bitcoin is losing it's value nowadays. However, this should not be the fate of all. Bitcoin will still regain it's value in time. As someone invested on bitcoin, expectations must also come as downs will be also happening. In all investements, risks are always involved.

Don't understand how a 6 year experienced bitcoiner still doesn't know when to hold.
2018 will be a great year, and this is the runup to the start of that year.

Every coin needs a stable balance, for the alt coins this is bitcoin, for bitcoin it's a reliable market

I guess, once before, he haven't experience such a big dip and congestion of bitcoin like what is happening today. And so, for him it is not normal and I understand his point. But just like almost everyone said, he must not close the door yet, because he would regret it, A LOT.

that why i move to ethereum now. especially about the fees. if nothing they do with that i think the high bitcoin are there will be irrelevant price of fees will they charges for every transaction. its killing me.

In the previous 6 years, correct me if I am wrong but the fees were never a concern, actually it was not until late this year. This is a new problem for Bitcoin and the community behind it.

The government and the national bank can issue money indefinitely. The more money is not supported by real growth of the economy, the higher the inflation

Transactions nowadays are very slow since there are over 170,000 pending transactions waiting to be mined. You can check the blockchain for more information on how your transaction is going

Which is the exact opposite of Bitcoin, which in a way is comparable to gold because of its limited supply. Just like gold, Bitcoin is deflationary by nature, now if the fee problem can be solved (Lightning Network coming soon?) Bitcoin holders will get rewarded again for their patience.
Cannot find much reliable info about LN and its implementation though but it would be a major event if it happens.

I completely agree with you. Now Bitcoin has been turned in a pure speculative toy, since it is unusable for anything else than speculation with it. NOW it starts to look like the Dutch tulips.

Good for you - you realized it is good for absolutely no practical purpose and was lucky to sell at around 16.000 - as opposed to the "HODL" cult members in here you are stuck with counting their losses and clining to hope as their only strategy

Wait a minute! KwuckDuck is that you talking to your alts again? Lol, welcome back.

me, too. it's like a nightmare that never ends T_T

Currently deals hailed for hours several times unconfirmed I pray all should be good because the investor will clean it there tears with your tap water handkerchief from your loss. 8)

Despite what you thought, this is exactly the way bitcoin is supposed to work.  There is only supply and demand, nothing else. Every user is completely free to sell whenever they like. That will always mean a highly volatile market.
If the NYSE or other world markets were free they would do the same. They are not free however, and are tightly controlled. So if the stock market starts crashing hard they shut it off. No one can do that with bitcoin.  In the 1800 the NYSE crashed and rallied all the time.

I think the confusion is about what bitcoin is. It is money, just money, nothing else. It is not your friend or here to make you rich. It has no interest in your ambitions whatsoever. The advantage for you is that you alone own bitcoin. The network will treat you the same if you are rich or poor, in the Arctic or in NYC. Fair money is not magical, just fair. So you and I don't get to decide what happens, no one does. We do it together.

All bitcoins are better than normal currencies. Functionally does not work at all and needs more work at the time of confirmation and transaction costs. 8)

This has always been the trend and it's no longer shocking. What plays highly in the market is the supply and demand which are both present in any marketing or finance industry, and both affect price condition, Bitcoin is not exempted from it. It has its highs and lows but our faith and positivity should remain strong and high. The downturn won't stay longer, and so there's nothing to worry.

That is the normal thing of the market

It is true that we do not know what Bitcoin is now doing. But it is preocupant for us all. When people show a terrible fee for it, they simply carry their meaning. It is been weeks and weeks that fees are reaching ridiculous amounts. Sad to see, but expected.

In this statement that I have never seen bitcoin in such a sorry state as this they are frustrated and over thinker about the value of the bitcoin in the market, there no worries about it because it is a normal state that bitcoin have some changes of value to high to low or what.

Bitcoin has also get some corrections like other coin which make it more volatile. It is true that it is not exempted in the condition that sometimes low and sometimes high because there many people that wanted to have bitcoin. There is something to do with the increase in the demand from the limited supply where many also contribute for the low price because of panic selling. We have to hold strong and always believe for the positive change in price of this in the market.

There is no such bad condition of bitcoin as it seem to be. Though bitcoin has been going through many ups and downs during these months but it doesn’t mean that it will not recover ever. Bitcoin is very sustainable crypto currency and it will last for many decades so the deflation in the VA is very common in every investment so the same is applicable for bitcoin also and moreover the valuation is inflated from last few weeks and I think it has inflated to about 20% and according to some economists it will further inflate in the coming months.

may be different for now because now Bitcoin has decreased in price, different at the end of 2017 yesterday when it rose very high.

I once had to move 0.1 Bitcoin from a local Exchange to Bittrex, and that was a 100,000 satoshi fee. But now it's down again to 50,000 satoshi with 0.1 Bitcoin moving value.

Now I want to ask why bitcoin is in a miserable state? If he is afloat and from him goes direct earnings and convenience in using it means everything is fine!

it's worth the high price fitting right down and I'm not surprised

Adam Back, 1MegGreg, Blockstream, Lightning, SegWit.  They ruined it for good.  Lots of people knew this would spell the end of Bitcoin two years ago.  You probably should have listened closer when Mike Hearn rage quit.  He pretty much told it like it is.  Shit would hit the fan - then it did. 

Bye bye Bitcoin. 

At least we still have the real bitcoin: Bitcoin Cash.

YES, THERE IS NOTHING IN THIS NO, REMEMBER OR LOOK AT THE BITCOIN COURSE SCHEDULE IN THE PAST YEAR AND COMPARE DATES AND YOU WILL SEE AS IT AFTER YOURSELF THEN SHAKED VERY VERY VERY VERY MUCH !!! HERE WE ARE WAITING FOR THE SAME THAT ONLY THE FLIGHT WILL BE ABOVE)) !!!

I think you're exaggerating. Bitcoin is still alive. I don't see any big problems. The price of bitcoin is still in the black when compared to last year. I don't trust BCH. Bitcoin has come under the influence of whales this year and we see problems. BCH is initially under the influence of miners.

Well i guess the network was not ready for the surge of investors. I think a major development to its technology should be done to be able to support its growing investors.

I think bitcoin have less investors that causes the price to drop down. In this case more and more altcoins are spreading which people will have many choices and will be divided.

Well there's always a first time and bitcoin's situation right now might be new to us. There were moments that bitcoin has been down but not like this. With its struggle maybe we may lose hope but looking at the bright picture I can say that bitcoin can overcome this just like in the past. It may be really down but hope is stil there.

I agree with your post! There are many problems to solve since Bitcoin will be aligible for a really mass global instrument like fiat currency or company shares or bonds...
I hope Bitcoin will rescue from this current state... Price decline everyday. the problem is also cause by a great concentration of wealth in few hands (whales) they can manipulate the price trend as they want..... this is a huge mistake too... Bitcoin can't be a worldwide currency... Decentralization should also be in the possession of weath not only in the creation of the currency!! Nakamoto did a great work in creating this awesome technology. But for build a better world we must find equilibriums... If you know what I mean.

I don't think that you understand why Bitcoin was created in the first place. Satoshi envisioned it as a payment platform without involving third party. So if you think that it should be considered as company shares or bond then you are wrong with your assumptions.


We have been hearing about this whales and manipulations. But since this is decentralize, meaning without any central authority to overlook, chances are whales will continue their fraudulent act so we must accept it. I don't know what equilibriums are you saying here, but this market is based on pure speculation so I doubt that we can find any.

Bitcoin at $6,450 as I write this comment isn’t that bad. Nothing irregular in a volatile market. No need to resort to panic selling.

I think bitcoin will be the biggest bubble in history. bitcoin has penetrated 10,000 US dollars and will not be long valuation and bitcoin prices will strengthen. bitcoin value also had penetrated 20,000 US dollars per unit. Nevertheless, the value of bitcoin also had dropped sharply in just an instant ...
this is a question for us, this bitcoin moves fast enough and uncontrollable ..

Well I think all this gloomy ruckus and speculation is caused by the massive 20k run last december which nobody expected but many thought to continue. Let's all accept that what happened then was unnatural for btc and what's happenning now is kind of a continuation from the time before that big pump. I don't think long time bitcoin holders are selling out here since we've seen declines in this magnitude in the past.

This is a reflection of the normal market, and I think it was due to a rapid rise in bitcoin last year, and many people were in the market when they got huge profits. It took a long process to get bitcoin to return to the price.

I do not think that you will say 'the biggest bubble' because if you say something like that you indirectly you have thought bitcoin will not have a high price anymore. Bubble has a negative impression in the economic sphere, bubble is something that everyone should avoid. And I'm not sure of it, bitcoin still has a great chance to have a high price compared to last year, I will absorb what the experts say.

I would say everyone has a choice to make and as regards this issue of bitcoin network, I believe things will change for the good. All I see is some cabal of people trying to shield people away from investing into Bitcoin or holding. Everyone will be responsible for their choices. 

Guys, you want too much! Look at the price of bitcoin a year ago, do you really think that it should grow without stopping? He has grown quite a lot in a year and this will not be his last price.

Bitcoin has been leading crypto currency in many ways towards the industry, the market keep fluctuating bitcoin up and down, way the current price has fall below the limit, i think is one advantage to take by invest more towards the industry.

there will be improvements in its working, for instance, lightning network. This will improve the usage and reduce costs over time. So changes will come as improvements will be needed for the betterment of the community.

Everything has its UPS and downs. I think that with such a decrease will be a big rise, as many States are beginning to legalize the cryptocurrency and bitcoin. Therefore, do not have a pessimistic attitude.

This is a very bad down.  Too low for too long.  I think it might be over now.

Let's hope that in the near future everything will change. Although this was a declining fall, we must be patient and wait for the right moment

Bitcoin and the other altcoins are paying a high price for the uncertainties about the regulations that are to come. As long as there is no conclusion as to what kind of regulations should be created, the market will stand in this impasse and falls will predominate

I think that this is just temporary and it will be like this for a few months more, and it will never happen again unless that we see another  x2 in a short period

conditions like this actually sudha never happened earlier this year, after the bitcoin value rose high and then dropped suddenly. until now the value of bitcoin has never reached the highest value as late last year. for the next few months will definitely value bitcoin will get better again, keep your assets for the benefit of folding.

You are indirectly thinking that Bitcoin will not have a high price anymore.

Because if you say something like a bubble that has a negative impression in the economic sphere, bubbles are something everyone should avoid.

I hope Bitcoin will save from the current state, and I believe that, Bitcoin still has a great chance to have a high price compared to last year.

By one side is bad seeing so low price, and something tell me what it drops to 5500 or 4400 this price from btc going rise crazy.
By other side is good because price must go up or peoples lost interest to crypto, big player will not allow this

I strongly agree, when bitcoin values ​​go down like this, big traders will hunt for bitcoin. because there is a very big confidence with this decline the next few months bitcoin value will rise several times from now.

I hope this tread starter was able to buy back today. Anyway, I disagree with what he had just said... Bitcoin will never be at a sorry state, it's you who don't take the buy/sell window.

Me too im bit worried about what happening in bitcoin but no i trust bitcoin. and is this true that bitcoin has been hack? and some billionaire in korea manipulating bitcoin price? i just read it

Even though it's really awful to see how bitcoin has plunged to 6,000$ mark once again, it is also a very good opportunity to buy more bitcoin and add it in your holdings. It's really frustrating to be in the situation again thinking that bitcoin has started to recover the past weeks but i still have to hold on strong because i know better days will come again next year if not this year.

As long as bitcoin has not dropped in the value of zero means bitcoin still has a chance to increase. Be patient this will be good.

I don’t think that bitcoin is such in sorry state , though the valuation of bitcoin is quite low and most of the people are now hesitating in investing into bitcoin because of the negative publicity spread by the media and even by the government also who does not want to legalise it but if we look at the average valuation of bitcoin then we can simply see that it is quite stable, though the valuation of bitcoin is flactuating but it is only for temporary basis only.

Yes, bitcoin is terrible, but it's only one coin that now dictates the rules in this market. And if you don't say it, you know it)

And getting worse.

This is behind hint to a personal dogfight. You should know how to transact bitcoin greater than before, and perhaps use a wallet that calculates fees per byte dynamically.  Other than that, I don't think that transaction time should be downplayied in report to Bitcoin as it is currently within acceptable limits for fees to be high even though transactions are in high demand and the price is rising. Bitcoin will always remain a pleasurable buildup of value.

This a routine cycle of the market and nothing to worry , trends keep changing but the overall trend reverses when the present cycle is over.What we need to do is to have patience and wait for the next trend and keep our orders ready or hold the present orders.Thats all i do when the market is going reverse against my orders , i just keep adding to my portfolio,that the best option available.

Great! we can do away with "dudes" like you who keep on spreading false information claiming you were bitcoin lovers but now because the situation has gone really bad you are leaving yourself. Well get out of bitcoin and never come back because you were only an unfitting piece of this amazing technological breakthrough.
Where  my bitcoin lovers @?

Only a matter of time before lightning network and side-chains are built on top of bitcoin allowing for unlimited TPS.

No, today BTC value is growing again, maybe in the next few weeks, BTC price will increase to over $ 10000. That is my expectation and I believe it is true.

There is always ups and downs in market place. Today value rises then tomorrow it can be going down. So it is a regular process we must keep belief in our decision. In a matter of time the market will rise again and bitcoin will be back in its ownself.

It is true that Bitcoin is now in such a period that is very bad state. But every currency has ups and downs. I believe developers are trying to make thinks ok. So it will be over soon.

It is true that market of Bitcoin is going unstable these day. But it will be over soon and the golden time of bitcoin will come soon.

Yes, it is so sad to know this. Bitcoin is not in the mood these days. But just hold on, I know the storm will be over soon. Let us not be discourage fellows.

Every market has some good time and bad time. But we need to be positive of its come back.

I think it is only a matter of time to become better for btc

It is like, you will have never seen the bitcoin soar high as the bitcoin's place soonest. Having that kind of thinking, having less patience, those people indeed needed to drop bitcoins then quit. It is not good in the market having toxic people who only wants to gain, we people need to wait because it is not always winning, even the earth is round, no one settles on its place. Patience is the key to be the winner.

It has been unstable ever since. And that is normal for this kind of market.

You don't need to go on the assaulting mode since he was simply communicating an assessment in view of the position you have effectively taken. I don't think you expect that we ought to implore you to remain? Its a free market where everybody is permitted free exit and section and on the off chance that you go for the last mentioned, we can just wish you well which is precisely what he did to the best of his insight. Aside that, I don't figure you ought to make another record just to educate us concerning your leave methodology.

At least, you are not heading out from cryptoworld since you said you are going to sell your remaining btc and buy it to BCH and other cryptos that is perfectly fine and working for you. Since we have the freedom to choose what crypto we are going to invest, then you are always free to leave that crypto anytime you want too.

Bitcoin is in a state now which is very pathetic but it will be over soon.

Though btc now in a crucial stage but it get in line soon.

The odd condition of btc market is getting better day by day i think.

I think the rate of which people were buying btc then caused it, for transaction to bug up in mempool and now that btc fee is low and the best for now , I think you should be happy and have that same strong support for btc .

You clearly chose the right time to get out. Well done buddy

Exiting at the right time is very important. Irrespective of whether you believe in Bitcoin or not, you got out at the right time.

And for the tech part, there are still many like me who believe in bitcoin. Ups and downs are part of any market and they are impossible to avoid. Best we can do is wait for the dip, buy, wait for the boom and make profits.

not a cert he said he puttign his bitcoin into alts not fiat .SO he more then likely got fucked like the rest of us .IF he converted to fiat then he done well

I don't think he's miserable, everything is as it should be and who believes in him will pay for it with their Newari, money and will to buy it expensive !

I understand that the topic is old, but how funny it is now to see that the price of 6,500 dollars is a terrible state of bitcoin))

I have read the story you have shared here and can say you thanks for telling it because it was interesting to read it. I agree with you because this is really a sorry state if it is possible to call it so

Yep, me too but i never doubt bitcoin, and i always think that it will recover from this kind of loss. I always think positive and erase the negativity in my mind. Its not over yet, i swear that to you that bitcoin will recover, so dont panic. It will rise soon.

Although the market is depressed now, btc remains to be a perfect investment opportunity. During the next bull run, it will beat its high. No doubts.

Well i've seen worse actually. That's why i think that though it's that bad for other people, i think it's not a desperatr case yet. We've fallen hard because we came from quite an unreal all time high.

Dont close the door yet. All system have always room for improvement.
I believe they are already working around on it and if they get it right, it will make things better.

And by saying "Yet" you are also saying that you are sure it will become desperate going forward....

Yes it's heartbreaking as so many traders wasn't expecting the bloodbath to more and last longer than this, but gloriously, we thank God that the market is recovering back slow and stead and some little coins are on green like bitcoin, eth etc

Never seen Bitcoin in such a sorry state as this? Nope, I definitely don't agree with you. You should see the first  couple of year of bitcoin, no one wants to accept it (that includes me as freelancer and I regret that) and it's being called scam then been associated with dark web and widely used in illegal business. That's the worse year of bitcoin for me. Today is so much better than those times. I will say, this is not the best time but definitely not worse.

Don't be too involved into the price, otherwise you will live stressful moments specially during long bearish periods.

Try to invest only what you can afford to lose and only projects you feel they have a bright future within the next 3-5 years. Cryto does not mean verifying the price every day, but having patience and taking wise decisions.

It's all temporary stuff. It continues to develop and improve, and this is an indicator that everything will be okay with it - the price will recover and grow, and the technology itself will work even better.

One year after that rant and bitcoin is still here, still struggling but still alive and kicking. We should not forget the tough times, they were worse than it is now with just a few users. Bitcoin will easily recover, and quicker than it has done before

Sorry, I suggest you be patient and all will be well.
It is temporary, and you may not expect everything to be so smooth every time. Be sure there is a sparkling light at the end of the tunnel.
Everyone here is bearing it, it has not been such easy.
We even complicated the issues with some of our predictions that failed.

Lol. Bitcoin market is fairly young as compare to stocks or gold and to say that it's a sorry state is a bit unfair to crypto's. Anyways, as I have said, this is a journey, the more you stay on the market, the more you understand that you really need to have a lot of patience in order to survived and be successful in the end. Yes, others make things complicated by listening to so called experts about what the price will be in the future but we all know that no one has the crystal ball to see where the price will be in the next coming days or months or years so patience is the key.

The downtrend of bitcoin is only temporary and it will go down to zero. This market downtrend will also provide us the opportunity to buy bitcoin and other cryptocurrencies at an affordable prices. Nobody knows when the recovery or bounce back will start but it will happen in due time so try to be patient more while waiting for another bullrun.

if you have never seen bitcoin in such a sorry state as this then you will never see it in its glorious way when it hits a new all time high again. Patience is what you need to survive this bear market because at the end of every bear market there is a bull run. It can take a long time before we finally see it but it will definitely come and only those who have the patience to stay now will enjoy later.

The state of bitcoin within this period is really depressing for investors nd holders bitcoin, But I think bitcoin follows a curve - goes up and down. Looking at the market capitalisation as well as the increase in cryptocurrency coins/tokens shows that bitcoin future is still bright. Though, I cannot explain the bear market at the moment, I believe the market is temporary and will gather momentum in no distant time. So long people continue to show interest in cryptocurrency, then bitcoin, which in my opinion is the pivot of cryptocurrency, will definitely appreciate in price.

Everyone do not want to see the falling of prices but it is not always fruitful time where you can earn higher. It is a bear market where you would have to hold and buy more volume of the coin on the market which has potential to grow again which can gain profit easily than what you have before. It is hard to predict when, but time time will come for bull run, just wait patiently.

What ever the case may be as regards the dwindled or drop in price of bitcoin its going to come out unscathed history do repeat itself it has mentioned and confirmed on how bitcoin had fared in the previous years and came out Strong and also its obvious that the same scenario will played out and definitely this sorry state of btc will become a thing of the past just try and accumulate as much as you can and hodl because once the train start moving it is unstoppable.

The experience now of all bitcoin and cryptocurrency members , investors is just a very good challenge we are now facing , but we will not be worrying about this ,for tbis can resolve sooner , all we want to do is to continue to trust and believe in bitcoin and the entire cryptocurrency for this is just a normal odds we encountered in this digital business.

There is no compulsion to join the world of Bitcoin, so be patient in the face of falling prices. Who are able to survive and remain calm I am sure to get maximum results later because of the nature of the price of bitcoin which can go up and down. All feel this difficult condition you are not alone and hope prices will recover soon.

Why so dramatic? What kind of sorry state are you talking about? If we learned anything from BTC's history is that this situation is normal and expected considering volatile and turbulent movement of BTC. The crypto market's important feature is volatility and this is a result of its volatility. We need to do a proper research and look into the signs around BTC. The coin has a strong and committed community, it has been accepted by certain major companies and even countries, it is being implemented in different sectors and people are welcoming it as a payment method, not only investment. No need to be worried.

Bitcoin price is down and I agree but I don't think why you and many consider it is in a sorry state because now only it has started to recover and progress than in the past and I say that because few years back bitcoin was just a trading asset for greedy people who used to make quick money and nothing productive was done using it but now if you search the internet there are many options and facilities to use or pay using bitcoin and that is strong evidence that it is going in a successful path and if its users smart enough they should understand this price drop is just temporary