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So it's safe to say the 30% that left bitcoin did it's damage by clogging up the network
What damage was there? Bitcoin worked and is working as it is supposed to. It seems to me that the only damage done was to the reputation of those who moved their hash rate to an alt coin. But that too is fine as they are free to do that. The damage is $20 transactions fees and no relief in sight. If this is normal, you are out of your mind. |
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yawn
people only screaming about the price
Some people actually want to use it for stuff. That's why it becomes a serious problem when it's too expensive to transact. BCH will never have this problem because no one uses it for anything.  When you look at BCH communities they honestly have no endgame. They are against a coin being a store of value and just rant about "superior tech". The fact is that there are far superior coins out there to both currencies. The only thing going for Bitcoin is that it's an accepted store of value, it was the coin that started it all and a reserve currency, the only thing going for BCH is that it's a fork of something valuable with a similar name. Neither coin are remarkable compared to newer coins they are both inferior. If they destroy BTC, (which make no mistake, this is what they're aiming for, check their Reddit) it won't be their coin that claims the throne, at least not for more than a week. They would destroy their own coin, they would destroy the concept of a "digital gold" store of value, and they would probably kill the whole market if that safety net is gone. Everything will look like tulipmania, twats like Jamie Dimon and Peter Schiff would be proven right and these plotters would go right back to being insignificant nerds, rather than nerds who got lucky. The whole purpose of Segwit1x(BTC) is to stall the development, increase the transaction fees, and force people into centralized banks on the blockchain (lightningNetwork), which will do transactions off the blockchain. If you like the decentralized bitcoin project, you should stop all support for the hijacked coin. |
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Lightning network is patented bankster invention, and will be the end of decentralization.
Do you get a commission every time you post your wonderful link? Do you have something to say on the topic, or are you all in on ad hominem? |
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The high fees are doing my nut in as well, thing is i don't think all those were spam... The thing is, the network simply cannot handle the volume of transactions in its current state. Simply increasing the blocksize is a bandaid if bitcoin is to become large, where blocks would end up being several gigabytes if it was anywhere like the volume of visa/mastercard.
NEM and the lightning network do offer solutions to this problem, to a degree.
Lightning network is patented bankster invention, and will be the end of decentralization. "The simplest option would have been to raise the block size cap from 1 MB that Satoshi Nakamoto originally added as a temporary measure to prevent spam transactions. However the company BlockStream, backed by insurance giant AXA[ref] which now has the majority of developers controlling the Core repository did not want that. They wanted to stifle on-chain capacity so they could force users and transactions into using their patented side chain called Lightning Network[ref]. Not to mention that the Lightning Network will abandon the original Bitcoin vision for a fully decentralised payment system[ref] and move to a system which is more like regular banks which can be controlled, regulated and censored[ref]. This is a disgusting hostile corporate takeover attempt of Bitcoin and the goal is to kill it off as a decentralised currency." https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/ |
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"The simplest option would have been to raise the block size cap from 1 MB that Satoshi Nakamoto originally added as a temporary measure to prevent spam transactions. However the company BlockStream, backed by insurance giant AXA[ref] which now has the majority of developers controlling the Core repository did not want that. They wanted to stifle on-chain capacity so they could force users and transactions into using their patented side chain called Lightning Network[ref]. Not to mention that the Lightning Network will abandon the original Bitcoin vision for a fully decentralised payment system[ref] and move to a system which is more like regular banks which can be controlled, regulated and censored[ref]. This is a disgusting hostile corporate takeover attempt of Bitcoin and the goal is to kill it off as a decentralised currency." https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/ |
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That's actually what I'm afraid of:(
Nothing to fear  This is great news. "The simplest option would have been to raise the block size cap from 1 MB that Satoshi Nakamoto originally added as a temporary measure to prevent spam transactions. However the company BlockStream, backed by insurance giant AXA[ref] which now has the majority of developers controlling the Core repository did not want that. They wanted to stifle on-chain capacity so they could force users and transactions into using their patented side chain called Lightning Network[ref]. Not to mention that the Lightning Network will abandon the original Bitcoin vision for a fully decentralised payment system[ref] and move to a system which is more like regular banks which can be controlled, regulated and censored[ref]. This is a disgusting hostile corporate takeover attempt of Bitcoin and the goal is to kill it off as a decentralised currency." https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/ |
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Sorry if this has been posted bunch of times before, I was just hoping to get a fresh perspective. I've been a bitcoin adopter from the early beginning. What I'm seeing is that the fees of using this as an actual currency are becoming so high almost more than an atm bank fee. Of course there are much better reasons to choose a crypto over a fiat currency but I'm currency what is going to be done to solve the problem. I didn't like segwit2 for the collusionish and centralized way things happened. What are some thoughts for the future?
Also, what about these large electricity costs. I'm sure over time there will be solar farms, more efficient farms/mining but it seems like its a lot of computing power and resources that can be solved in other ways? Please don't hate on the post I love bitcoin I'm just curious about the future. Absolutely no fud here
It's called Bitcoin cash and is already here. $0.05 tranaction fee. With BTC it is something like 10-20 bucks now. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#6mIts going to suffer. There is no improvement in sight for BTC. It is going down the toilet. |
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How on earth will people think Bitcoin cash would overtake Bitcoin. Bitcoin cash was mooning simply because of the fork scheduled for 13th of November
No, it's because segwit(BTC) didn't deliver on the very late and necessary techology improvement. With transaction fees of 10$ it's a shitty coin and will soon be replaced by better technology. Nothing has improved for segwit1x. It's not even the original BTC. Original BTC did not have the segwit format of the blockchain. |
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I have only been into crypto currencies for a few weeks so forgive me if my question is daft...
If bitcoin is at such an early stage in terms of taking over even a small percentage of the world monetary system, and yet it is having to fork to resolve technical issues, is there not a more efficient crypto currency out there that wouldn't have these problems?
For example, if vertcoin had to handle the same volume of transactions would it perform better?
With over 1200 crypto currencies out there I don't understand why bitcoin still dominates. Surely there are technically far superior solutions out there. I know it was the first one but does this alone warrant it being the most popular?
Its weird, I agree. People think brand is more important than tech. One day it will come to an end. |
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I made following prediction a few days ago: The BTC dominance decreased sharply during the last 6 months, as altcoins become better every day. Then this trend ended because of the 2 forks. Now this trend will probably continue. We will see BTC dominance below 40% within the next 2-3 months. https://coinmarketcap.com/charts/#dominance-percentageBasically I just followed the dominance drop, ignoring the the forks, to make this prediction. Right now, it seems like I wasn't that wrong, as dominance decreases sharply. But how far will it drop? Will it ever return? Will we see dominance rates of less than 25% in the very long-term? I would like to hear your opinions, please based on facts and figures. https://coinmarketcap.com/charts/#dominance-percentagehttps://coinmarketcap.com/coins/Sure, it will keep falling just like this spring. The same conditions are present, the issues aren't fixed, on the contrary, transaction fees are beyond reasonable. And now with the coming confusion in regard to segwit1x and segwit2x, will potentially be the very bad. |
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No matter if you go for nostalgia or technical specs, BCH is the winner.
Blockchain is in the original Satoshi format, and it preforms much better without these technical issues and horrible transaction fees.
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Even they attack bitcoin, in my opinion they can not beat the original ones. Bitcoin is a bitcoin! The value is volatile but i have confident that bitcoin is going up not today but maybe tomorrow. Bitcoin cash is new coin let's see if it lasts.
You are grossly misinformed. The original BTC did not feature anything like segwit. BTC cash has remained this original format of the blockchain. Segwit is what is new. It's just a couple of months old, and has nothing to do with the original BTC. |
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This is a real coordinated attack. Roger Vermin moved 25k BTC to Bitfinex to put on a public show. Some mining pools have ceased mining BTC and there's services asking for Bitcoin cash to confirm Bitcoin transactions in the case of https://pushtx.btc.com/ (try it for yourself). $700m worth of stuck BTC in unconfirmed transactions (including $900+ of mine  ). https://www.cryptocoinsnews.com/700-million-stuck-115000-unconfirmed-bitcoin-transactions/Legions of dump btc and buy bitcoin cash comments everywhere online. And they keep trying to pump Bitcoin Cash but the market keeps telling them to "fuck off", each peak lower than before, It took me 7 tries to dump the Bitcoin Cash I'd been holding on Bittrex, so I think they may be in on it too. This is not organic it all, it's a planned coup. A few people will be like "yeah, no shit Sherlock" but many people still don't know about it. Your comments gentleman, is there something I've missed? The good news is the mining difficulty of Bitcoin cash will soon rise massively so they cannot sustain it for long. Only attack on the bitcoin so far has been the segwit fork, which is not bitcoin, never was, never will be. It is a massive change to the protocol and therefor is not bitcoin. Please, if you want to be taken seriously, you should call it segwit1x or segwit2x or what ever. I don't care if you personally don't take me seriously, you are not the Borg Collective, you don't speak for everyone. But thanks for stopping by.  Well, what would Satoshi do? Segwit? Don't think so. |
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This is a real coordinated attack. Roger Vermin moved 25k BTC to Bitfinex to put on a public show. Some mining pools have ceased mining BTC and there's services asking for Bitcoin cash to confirm Bitcoin transactions in the case of https://pushtx.btc.com/ (try it for yourself). $700m worth of stuck BTC in unconfirmed transactions (including $900+ of mine ). https://www.cryptocoinsnews.com/700-million-stuck-115000-unconfirmed-bitcoin-transactions/Legions of dump btc and buy bitcoin cash comments everywhere online. And they keep trying to pump Bitcoin Cash but the market keeps telling them to "fuck off", each peak lower than before, It took me 7 tries to dump the Bitcoin Cash I'd been holding on Bittrex, so I think they may be in on it too. This is not organic it all, it's a planned coup. A few people will be like "yeah, no shit Sherlock" but many people still don't know about it. Your comments gentleman, is there something I've missed? The good news is the mining difficulty of Bitcoin cash will soon rise massively so they cannot sustain it for long. Only attack on the bitcoin so far has been the segwit fork, which is not bitcoin, never was, never will be. It is a massive change to the protocol and therefor is not bitcoin. Please, if you want to be taken seriously, you should call it segwit1x or segwit2x or what ever. |
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No. Even ETH is real threat for Bitcoin, because it is far technically better.
BCH is just BTC with inflated block, which solves almost zero problems. The cheap and fast transaction is only caused by nobody uses it.
ETH technically better? It's behind and struggling to keep up. Great changes on the horizon for ETH, with the switch from PoW to PoS. Very great possibilities for new bugs, hacks and failures. Its not what you would call "technically better". |
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Transaction fee was the whole purpose of the forks and the segwits. There was no consensus, so they made several coins.
Lets look in the mirror how it went.
Average transaction cost on BTC is now 10 bucks.
Average transaction cost on BTC cash is now 0.2 bucks.
There is your answer.
Also, seems like BTC is coming to a halt.
" The last block update occurred 46 minutes ago."
But yes, stick to the first horse carriage, while the rest of us move on to the car.
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Bitcoin (segwit) will be always Bitcoin (nonsegwit).
Error, does not compute. |
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the loss or killing of the original bitcoin is not dependent on bitcoin cash. it's just a way of protection to keep the bitcoin safe.
Todays BTC has nothing to do with the original BTC. Please, do your homework and you will see, there was no segwit in the original BTC. |
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