Bitcoin Forum

BTC fees are skyrocketing to the moon in what some are calling a crisis.  Bitcoin has become completely un-useable as an actual functional currency and many are switching to alternatives such as Solana for speed or Monero for privacy.

What caused this and what can you do about it?
https://www.youtube.com/watch?v=11EL7MpqALs

OP  I can see from your name it is possible your are really from them. Are you trying to cause a FUD or what?. You are quickly at it singing praise of switching to other alt just because of the ordinals attack on bitcoin chain and here you are calling bitcoin un-useable when there are millions of transactions going on currently on bitcoin chain. It is fine and as a result of the attack on bitcoin chain, transaction prices skyrocketed which is not a new thing on blockchain that miners would prefer the higher transaction fee compared to the lesser. Anyways, thanks for your youtube video, as I had to get more of bitcoin because I saw a quick recovery and price boom in a short time.

It's not bitcoin that the problem here, it's the ordinals and BRC-20 that really affected the network and created this congestion in the last couple of days. Actually it did start around March but it seems it balloon since Sunday as the mempools is being clogged, similar to spam attack.

Of course it has affected by market itself, but I wouldn't say that it's un-useable or should we switch to alternative coins.

Sorry though, I'm not going to click and watch that video.

ROFL
You can't just replace bitcoin with another altcoin specially not with centralized shitcoins like Solana that have a massive premine.
Different countries have accepted bitcoin as a currency and some as legal tender, not altcoins.
Different merchants are accepting bitcoin as a payment and it is extremely rare for them to accept shitcoins.

P.S. This attack is not yet as big as 2017 spam attack.

lol OP nobody is switching from Bitcoin to crappy random alts. If people didn't switch when fees were over $50 they ain't switching when fees are under $10.

Also all alts fail and are short term fads. Solana was big two years ago, now its a broken chain. Monero is interesting for being private but that's it.

Why even try to spread FUD as silly and nonsensical as this??

From the looks, it is obvious that this is a planned attack on bitcoin chain, the timing, the nature of the attack and the manner at which it was launched but they forget they are only making bitcoin more popular and gaining more traction. Well, I see a surge in bitcoin price after this whole
saga.
The bitcoin awareness is strong. The adoption is fast spreading like wide fire. No shit coin can take or replace bitcoin not even the shitcoin as mentioned by OP.

Lastly, I think I should remind them not to forget that bitcoin is the first digital currency to be developed and as  such, is the genesis of crypto currency and blockchain technology.

Un-usable? Aside from the OP, I see a lot of people saying things like this because they can no longer pay $15 in bitcoin using the main chain, unless they want to pay another $15 in fees, but as I just mentioned in another thread, let's see what better system there is for transferring large amounts of money than bitcoin. If you want to transfer a huge amount of money to another continent, you can do it without filling out paperwork, without asking for permissions and paying a ridiculous fee relative to what you send. Everyone who is spreading FUD seems to want to forget that.

For me  Bitcoin position as the largest and most well-known cryptocurrency remains significant, despite the recent market fluctuations. Its use as a store of value is widely recognized, and while short selling Bitcoin or switching to altcoins may be options for some traders, it is important to monitor the market closely.

As with any investment, there are risks involved in cryptocurrency trading, and it is important not to panic during market corrections. It is essential to remain calm and patient, not rushing to cut losses as the cryptocurrency market is highly volatile. Entering the market with a realistic investment estimate is vital to ensure you can manage the risks effectively.

Why should people switch to shit coins that has almost zero hash rate backing them, compared to Bitcoin? Monero are a privacy coin that are used mostly for illegal activities on the Darkweb, so it will never get any acceptance by any government in this world.

Solana has nothing special.... it peaked for a short time and then it went "Poof" like the magic dragon. I think you have to stop shilling for Alt coins and start using the Lightning Network, if you want fast transactions in times of an attack.  ;)

While promoting controversial material can sometimes (and only sometimes when it's actually carefully and cleverly planned, in this case it's not) work well for a business/company, this is totally ludicrous and moronic — knowing that Bitcointalk is a Bitcoin-centric community.

Gateio should fire whoever's idea these videos are.

Op you should be ashamed of yourself for posting such unclear and false information on the forum.

As Cryptsafe said, your username tells us that you probably have a personal/professional interest in wanting to generate FUD.

I would never click on the link you posted, why would anyone? Your post is wrong, and is there to create FUD.
SOL and XMR are not an alternative to BTC in any way. Why do you come and talk about something you don't know anything about?
Since when XMR is a storage of value asset? What guarantee do you have that CEX will eventually accept to exchange it in the very long term given the nature of XMR himself?
Solana speaks for itself, wanting to "replace" BTC with Solana is for me an insult to BTC, no need to argue.

If you had any real knowledge of what BTC and its network is, you wouldn't go into these defeatist speeches, look at what happened in 2017 for example.
Do you think anyone is really going to trade their BTC for XMR/Solana here? Plus with 1 year to go before halving, you'd have to be an idiot to do that.

Here comes another one of the same thread trying to take advantage of the fees issue at this time and convincing people to shift to altcoins.But let me tell you one thing this is not going to help you out in any way or promote something you are trying to do.The shitcoins with low fees have nothing to provide and why should we make transactions on them? The gas has been so high and unaffordable by many but have you made any comments on it? The most of the tokens are bases on it's chain but this time memepool is congested but will come to normal again but leaving btc for altcoins is never an option.

It is not too bad to shift to altcoins for cheaper transaction fee in this time but remember not all altcoin networks will give you cheaper transaction fees. Like Ethereum network can cost you more than Bitcoin network.

It is very important to note: with altcoin networks, you will have less safety for your transactions. Bitcoin blockchain is a best one for transactions in security and safety.

• How many Bitcoin confirmations is enough? (https://bitcointalk.org/index.php?topic=5443953.0)
• How many confirmations are equivalent* to 6 Bitcoin confirmations? (https://howmanyconfs.com/)

Crisis? Un-useable? What more negative words can you use towards Bitcoin?
Well, base on that username, it's pretty obvious that you're under Gate.io exchange.

Many are switching to SOLANA???? What Solana? Many are switching into a coin that has been into outages several times already? I would rather go to stablecoin like Tether than a shitcoin like Solana. Monero? No as well.

How do Bitcoin became a completely un-useable currency? It's because of high transaction fees? Do you think that this will last forever? No establishments are accepting Monero, and a shitcoin like Solana. If you're doing this to attack Bitcoin, try again.

You don't know how angry I am because of Bitcoin transaction fee right now, no one likes it and some are comparing this to the 2017 Bitcoin high transaction fee but this one is different and it will be here for years because there was no Brc20 in 2017.

The ordinals never existed at the time, this is why I believe that Bitcoin won't be getting out of this mess for a long period of time until maybe the devs put an end to ordinals smart contract on Bitcoin, it's a mess that should have never existed in the first place, Bitcoin was not created for such thing.

Bitcoin is Bitcoin and I don't think that people will love to leave the coin for alt, even if they do believe me they are not happy about it, we are not talking about Ethereum here, this is Bitcoin.

Unusable just because of an increase in transaction fees, this has to be some joke thread. What Bitcoin is experiencing can't be compared to Ethereum increase in fees when it happened yet it was still been used so what makes you think people will stop using Bitcoin. We have lightening network that can be used to avoid paying this high fees. Things will go back to normal very soon no need to be panicking.

Business owners accepting Bitcoin can switch to using of the lightning network for faster transaction until the congestion get resolved. Solana or any other altcoins you're promoting won't and can't replace Bitcoin. Solana died a very long time ago and should be avoided.

OP ,is an anti-bitcoin and he thinks that he can come here to spread the FUD and everyone will foolishly listen to him. This congestion on the mempool is why there is delay in transaction because miners will always process transactions with the higher fee which is normal. This hasn't devalued bitcoin,neither has it cause any reason for alarm. Such thing happened in 2017 and bitcoin got over it. Those of us that are complaining, I don't see any reason for it,because I don't think we should be spending bitcoin daily or weekly. It is high time we don't make any bitcoin transaction, if we feel that the transaction fee is higher than what we can afford. Fiat and banks are there, which has been our way of making transactions before bitcoin was created,so I suggest that your daily spending or weekly should be in fiat,so that we can use this opportunity of the mempool congestion to hold our bitcoin. In every problem there is always an advantage for people who see it as a norm. It is only forum members that don't have an outside job and only depend on their weekly pay from signature campaign that will be highly affected. Switching over to altcoins is the worst decision ever, because you will end up in a deeper mess than this.

I have enough  trouble getting people to pay me with Bitcoin, without trying to convince them to use some crappy alt. What would I do with the flakey alts anyway - I wouldn't want to keep them for more than 5 minutes.

Now that is one exchange I will never use!  :o

I'll see you in BSV then. /s

EDIT: Everyone who roundhouse-kicked the OP for me has gotten +5 merit.


Are you serious?

In that case, it is more than sarcasm. Nobody should support exchanges that facilitate BRC20 spam.

Lol, you are one exchange that are riding on the bandwagon here, Gate.io will list Ordinals(ORDI) (https://www.gate.io/article/30617). So not going to be surprised though that you are calling it a crisis right now and push your agenda to used or at least invest on BRC-20 like ORDI that is causing this massive spam on bitcoin's network.

Good try but we know what you are doing here,  :D

Wrong choices of words. Attack not crisis. Completely un-useable? why? is the blockchain stopped confirming transactions? LOL. Mempool is only clogged but you can receive and transfer Btc if you don't mind the high fees.
Too bad you're in a wrong forum. People around here are too experienced to bite on such kind of FUD. Now you just earned yourself a very bad image as an Exchange who listed ORDI LOLOL!
Go try it in a different crypto related community! 

Op I don't really think you are a sole investor to bitcoin rather to cause panic and sets confusion towards the holders and I don't really see altcoin to be the solutions to the fee increase. It's just for while and I believe the fee could be normalized so I don't know why you are trying to divide people's attention by having this alternative going into altcoin.
I stick tight to btc holdings.

From your name it looks like fak gateioexchange because I believe an exchange you could have at least buy copper member to be able to post your images. Sorry to say

Another opportunist trying to ride on the attack on Bitcoin to get cheap publicity. People are not dumb to know the difference between Bitcoin and your undependable altcoin. Exchanges in my country are already flooding social media with diverse predictions and analyses. But I don't use Bitcoin for daily transactions and I will not also contribute to the problem so I am not even selling. I have always promoted Bitcoin in my neighborhood because of its relatively cheap transaction fees so paying high fees makes no sense to me. OP to me your advice is null and void. The disasters that exchanges cause are still fresh in my memory, hence I am even more scared of using them. I am sure this problem will soon come to an end and it will make bitcoin bigger and stronger.

Running away is never a solution :D

First, this is not the first time mempool is so full. Second instead of running away to Solana, try solving Bitcoin mempool problem. Otherwise Solana can be filled with NFT shit as well one day. Third - hold! Fourth - dont like Bitcoin? I can buy it for half price from you. Transaction fee is on me.

That can't cause any fud because Bitcoin price will remain the way Bitcoin Master wants it.
Will soon be investigating the intention of ordinal, if it's evil then expect a punishment soon and the whole transaction issue will be settled, possibly without human intervention.
Meanwhile we will leave things this way for sometimes for developers and other members to learn their lessons.
The price will continue to be bullish.

Sorry mate but I think its quite clear why all the problems are happening now and its definitely got nothing to do with this actual word "unusable" you are blaspheming around. Bitcoin is still what it is and the blockchain or mempool congestion is what is creating all this price hike and you coming to cause a FUD is absolutely not welcomed, if we hadn't known better would have tag you a possible promoter of these brc20 coins that's if you are not actually one already. Bitcoin is still very much usable and its value is still in check as the market value for it is still looking strong @27-28k $ and looking to move up as the year continues so it just a matter of time before this whole cloud clears off and what we can do to help this situation is to reduce the rate of coins we sell at current state now because it will further congest the mempool and you don't expect a human who mine bitcoin blocks to go for a lower transaction when a higher one is placed before him and that's why the fees are so high but those that still want transaction mine for them are meeting up with the fees so nothing is actually wrong with bitcoin usage its just a mempool congestion.

To say bitcoin is unusable here is a term that shouldn't apply or used. High transaction fee doesn't translate to unusable and at most, 50sat/byte which counts for the minimum to have your transaction occupy some mb on the network isn't so much. It depends on the volume of transaction your initiating though.
In any case, swapping bitcoin  for altcoins because of transaction fee at the time might be the worst idea to tackle the times and something that shouldt be patronised. Altcoins are highly unreliable and could still dump or lose value.
No fee would be worth loosing your coin over and that too is a possibility with altcoins.

It is true that high transaction fees do not necessarily make Bitcoin unusable, they can certainly make it less attractive for smaller transactions. Also, the fees can fluctuate greatly based on network demand and can be difficult for us to predict, which can add an extra layer of uncertainty to the process.

For those who swapping Bitcoin for alt coins based on transaction fees, it is important for users to carefully consider the risk involved. While altcoins can sometimes have lower transaction fees, they generally less established and can be more volatile than Bitcoin. Meaning that we users who swap their Bitcoin for altcoins based on transaction fees run the risk of losing value if the altcoin we choose experiences a significant drop in value.

i don't think un-useable is the right word. The blockchain is stable, it has the blocks in time and with the right fees your transaction will be confirmed in the next block. But talking about the right fees is talking about close to $30/transaction which really sucks. But is the price to pay when there are more than 400k unconfirmed transactions. And totally agree about using altcoins is a good option now.

Exactly mate and I see no reason for spreading of FUD.
one thing is very certain from all this happenings and attack on the blockchain that there are still millions of transcations awaiting confirmations on the blockchaij which is a clear evident that bitcoin  is doing fine.

The problem is bitcoin  but on the blockchain and there isn't any need to panic and I guess op should be one of the teams behind the shitcoins he early mentioned in the OP and no matter the amount of promotion done, they still remain switching and wouldn't get close to bitcoin  and core believers of bitcoin  should be expecting a massive rise in the price of bitcoin  after all of this mess is fixed so they will be busy buying more for hodl against what op proposed of panic selling send I don't actually  see anyone panic selling because of transaction delay and high fee.

For those which are hoping to create uncertainty and make the price of bitcoin to go down this is the perfect moment to spread FUD, the fees are indeed expensive and there are probably many newbies out there which are worried about this, so they are hoping that by spreading that FUD they can increase the number of those which are selling their coins and create downward pressure on the price of bitcoin, now this will not work on experimented users, but I think there are enough newbies out there which may believe the FUD, sell their bitcoin and buy altcoins as a result of the misinformation that is being spread at this time.

Really that arent too obvious eh?  ;D

We arent seeing this thing happen on first time on which we do have those clogged network back in the past on which it did really result into those high fees but somewhat this isnt the first time that it did happen.
How come its not been that usable? I agree on what you have said, if its non useable then people wouldnt really be making any transactions at all. lol
Important thing on here that miners are really that still there and trying out to confirmed those blocks and i would say that this spam on network would surely be cleared up for few more days.
We are still high as of this moment of pending transactions but im not really seeing this as a huge or main issue.

You could always having the choice on switching into some altcoins if you are really that in a hurry specially when you do like to gamble or whatsoever but if your main coin is
Bitcoins then the thing you do need to do is to wait.

Seriously?
This is nkt the first time that the fee of Bitcoin transaction is getting higher. But I don't think this becomes that kind of un-usable as you said. Many altcoins have always pushed themselves to the punch that they are better than Bitcoin. maybe in terms of transaction costs, they are cheaper, but still not able to replace or take the place of Bitcoin. Bitcoin is not only used as a transaction tool. Indeed, I admit that if the cost of fees soared, and it would be better if it would at least come down. Just waiting to see how it will be. Bitcoib will remain in demand, whether as a currency or an investment tool. This is due to trust, there are still many parties who believe more in Bitcoin.

So what? Has it made you lose faith in bitcoin?
I still believe in bitcoin and will not let it go because I have tried hard to collect it until now.
So if you have given up on holding bitcoin, you can sell it now and move to Solana, which you say is the alternative.
And I also don't care about what caused this to happen because it doesn't matter to me.
The most important thing is that I still want to accumulate more bitcoins.

Ordinals and BRC-20 tokens could be likened to plastic pollutants floating on the sea dropped by mentally deranged individuals that have no respect for nature. It is clearly people like you that are creating fud about bitcoin and promoting worthless projects like ordinals with no use-cases and utilities. It just a matter of time the Bitcoin network will be normalize and y'all will go back to where ever you came from.

You are too quick to conclude that bitcoin is no longer usable. Then you can conclude like that, you get it from what basis can bitcoin not be used anymore, from the increased transaction price? You are wrong if you conclude that bitcoin cannot be used anymore, just because the transaction fees are expensive. You are too exaggerated in responding to this incident, you are too pessimistic and do not see this incident from all sides. Moreover, you mentioned that many people are switching to alternative coins. I don't think that makes sense, because investors who have invested in bitcoin will usually always be loyal to bitcoin. Because the reason is clear, that bitcoin is indeed the best than other altcoins. So it is less likely that bitcoin investors will switch to alternative coins. Even with the state of bitcoin as it is today.

And now all of 2 days after the OP freaked out about Bitcoin being "un-useable" the spam attack seems to be over and fees are back to $2 lol


When a spam attack happens people need to not freak out so much and so quickly and just wait a few days. Spam attacks never last long because they are costly. Mempool is gradually clearing out and we're already back to pre-May fees now.

The cryptocurrency has many function's as them have difference network, as the case applied, for any given transaction from exchange to another exchange using Bitcoin is very high, which TRX, and Matic can solved the problem with a less charge fees, while buy Bitcoin as soon as possible, because I still believe in Bitcoin now and future.

What we experiencing now is not new to the space and no need to start packing or start creating FUD around, I believe that just in a matter of time things would get sorted out as regards to the skyrocketing cost of transaction on Bitcoin. despite all odds, Bitcoin still stand out as the best crypto out there which no other coin can compete with, If one day in the future that this transaction cost is reduced to an extent that one can buy coffee with Bitcoin and with small gas fees , I don't know what would be the stand of other Cryptos out there to even compete with BTC.

I think the OPis doing a subtle marketing for the two coins he mentioned. Other than that, I don't see the need of coming here to cause panick. The transaction fee for eth has always been on the high side, yet, so many projects are still using it. So, why the fuss about BTC?

It's so funny getting to see this attack on Bitcoin from a total newbie in the forum when you should either go to altcoin whatever to advertise the other cryptocurrency you want people to switch to since Bitcoin has become tota un-usable because of the high fees in transactions.How much have you lost since the high transaction fees began to have come to conclusions that Bitcoin is unusable and switching to alts mentioned by you now become the best? I hope you come back here after making the FUD around to edit this post when everything becomes normal with Bitcoin or better still take your advertisement to altcoin section where you can be paid for a job well done.

The transaction fees on the bitcoin network have gone down significantly and pretty much stabilized, and what you should know is that, bitcoin is the original crypto currency, and it doesnt matter how high the fees goes or gets, it can not render the bitcoin network unusable because, those who can afford the fees will always pay it to keep using it, there are big corporations who can never buy any alternative crypto, I don't have to start mentioning names, but the fact remains that, bitcoin is very much usable even with high transaction fees, there is no reason to create fear, uncertainty and doubt.

I find it ridiculous to consider shifting from Bitcoin to altcoins solely due to transaction fees. I am hesitant to even think about such a move because I don't want to experience financial losses again. In the past, investing in low-quality coins has resulted in a significant loss for me. I have learned from my mistakes and have no intention of investing in such coins again. Just because Bitcoin has high transaction fees doesn't mean it is unusable. I find it perplexing that you would suggest Bitcoin is unusable while claiming altcoins are usable.

Nah it isn't the first time that BTC fee skyrocket, but somehow if you badly needs to convert crypto into Fiat then yes try to use alt-coin for faster and cheaper transaction.
But I would disagree with you OP just because the Trans fee is high doesn't mean that it's useless.

and seems this is not relevant anymore today as the fees have gone down a lot already. try checking the  mempool  (https://mempool.space/) and you will see that the sat/vB is quite low now even if you set it at high priority. i can understand last week but in the past couple of days, it is now more user friendly when it comes to fees.
what we can learn from this scenario is if you have no urgent needs, better pause your tx while the fees are skyrocketing, then just execute it once the network congestion subsides.

The best anyone can do after reading this post is not to further click the link provided by the OP as it's aimed to confuse the feeble minds, cause it's obvious he's just trying to promote some alts. And such misinformation as this could be misleading to newbies that have just emerged into the crypto space. We all know that BTC is the most trusted cryptocurrency and the leading of all digital currency, there's no alternative to BTC when it comes to safe crypto investment.

The bitcoin is all the time good one for me to invest and for the long run.Now the bitcoin price was crossed the 30k mark and it will be the good time to inverse the money in the altcoin.Because some coins work against the flow of bitcoin pump,such coins give us the profit during the long term.We can convert such reverse movement coin at the bear market of cryptocurrency.It’s essential to hold 30 percentage of your investment in reverse movement coins.

The OP has reached a conclusion here that he is claiming Bitcoin is unusable. But we know that Bitcoin transaction free sometimes increases and then decreases again, so there is nothing to be disappointed about. The comment made by the OP here is completely wrong Bitcoin's transaction fee is not expensive but it is within a range. He also mentioned that people are switching from Bitcoin to other cryptos but this is completely wrong. No one has done such a stupid thing but they are switching from all other cryptos to Bitcoin. Wise people will never give up Bitcoin on receiving such a message but invest more in Bitcoin with faith. Bitcoin is an invaluable asset of the future that is truly the best currency for everyone.

I think that all those things happened due to NFT-Ordinals attack, so that the overall network load became really high. I think that such NFT-attacks are possible to happen again. So, yes, the best way to avoid such attacks is to diversify cryptoassets, and IMHO Monero and Solana are really valuable coins...