Sometimes I think things like whats happening with the clogged network are needed to force the already existing technologies such as lightning network (LN) to be integrated in all these platforms to compliment ease of use, otherwise commendable job by Binance hope other exchanges do the same asap!
Commendable by Binance when many exchanges are supporting bitcoin lightning network. I do not want to be posting the same thing, you can see the lists of exchanges that are supporting lightning network on the below link https://bitcointalk.org/index.php?topic=5452062.msg62220004#msg62220004Binance and Coinbase are getting money from bitcoin transaction fee. Binance has altcoins chain which they are using to deceive people to think that they are bitcoin, but they are not bitcoin, they are only pegged with bitcoin price, they are altcoins. |
|
|
|
I understood but my post is to help you get a point that compare transaction fee at different times in USD is non-sense. It only makes sense if at two different times, Bitcoin has same price in USD.
In this comparison, between 2023 and 2021, Bitcoin has two different prices and the difference is very big. Big enough to make the comparison is invalid. Transaction fee can be $20 but if Bitcoin price is $60,000 in 2021, you had to spend less satoshi for your transaction than in 2023 when price is only about $30,000.
Despite that you are making a valid point, you are getting it wrong. This thread is about bitcoin adoption that continues despite increase in bitcoin transaction fee, you do not have to take it to another direction. All I meant is that bitcoin adoption continues in the past even when mempool was congested and people were paying high fee at the time in the past. |
|
|
|
This is not the first time that bitcoin is facing high fee issue, it happened in February 2021
This time is worse if you look at fee in satoshi you have to spend for your transaction. In 2021, you did not have to spend 300 or 400 sat/vbyte to get confirmation quickly like days ago. After 2021 congestion, the fee I did used until what happened recently has been less than 10 sat/byte. I did used 1 sat/vbytes most of the time until what happened recently. I am not saying what is happening recently is not worse than that time, but 2021 was the last mempool congestion that I experienced. Do not get me wrong. Have you understood that. What I mean is that there were mempool congestion in the paste, but bitcoin adoption continues. |
|
|
|
|
This is not the first time that bitcoin is facing high fee issue, it happened in February 2021 and it lasted for almost two months until April when the mempool was not congested as it dropped abruptly to 1 sat/vbyte. Bitcoin adoption continues.
What that happened recently did not even take up to weeks. The mempool got to over 500 sat/vbyte and it has dropped to 42 sat/vbyte. Nevertheless, this shouldn't affect bitcoin adoption.
|
|
|
|
Ah! What is fixing matches becoming? It is even getting beyond fixing matches, like this one: Santos defender Eduardo Bauermann is accused of receiving at least 50,000 reais ($10,000) to get a yellow card in a match against Aval last year, according to the documents. Player are getting bribed. I will not be betting more than EPL, La Liga, Seria A, Bundesliga and Lique 1 in France. I bet on Brazilian Seria A, Seria B and some other leagues and cups in Brazil. I can not trust this kind of leagues again. |
|
|
|
|
It is better you should use a mixer for it if you do not want anyone to link the coin to you. If you do not want to use Coinjoin or centralized mixer, you can exchange the coin for monero and exchange it back to bitcoin. But I will prefer mixers.
|
|
|
|
I am searching for off-chain type of mixer/échanger service. Any recommendations for moi?
There is nothing called offchain mixers because there is no bitcoin mixer that is using lightning network which is the offchain network. Did not ChipMixer offer private keys direct with mixes? I was searching for services similar.
Chipmixer is not an offchain mixer. If you want a similar mixer that offers private key like Chipmixer, use Whirlwind. Other than exchanging private keys with other people(which no one here will recommend you'd do), probably the closest to your description would be to use non-KYC exchanges to mix your coins. Not sure what the best option is, but probably KuCoin? DYOR.
Kucoin is a centralized exchange. It is better to use a decentralized exchange like Bisq. It is good to exchange bitcoin to a privacy coin like monero and exchange the monero back to bitcoin. |
|
|
|
|
For your privacy and safety reasons, it is better to buy gold bars on physical stores. We may not be from the same country, so my answers may also not be accurate if I give some locations of where you can buy it.
There are tokenized gold. The one that I know of is PAXG. It has a marketcap of $534,238,220 and a good trading volume. Maybe you can buy some of this also. If you have high amount of money, I will recommend you to buy real gold and little of this tokenized gold.
|
|
|
|
The problem is, in order for Bitcoin to become a currency everyone will use, it should be stable.
Bitcoin was created to be an unstable coins, it can not become stable. Just look at what people are saying right now, experts say that people shouldn't hold USD because inflation is just 5% a year, but imagine if you have bitcoin that can go down like 5% a day because some whales sold it. It will be problematic for people to use it on a daily basis because of that.
You are not looking at the reality, that bitcoin will increase in price and reach all-time-high. Bitcoin volatility has helped many people to make money. I know that people say that when Bitcoin will be adopted, it should become stable because there is a limited amount of it, but I don't see how it's gonna happen. From what I see people treat bitcoin as an asset to invest and hold and I can't imagine that will change in the future.
Who is saying that? I have not heard that from anyone before. I know that people say that when Bitcoin will be adopted, it should become stable because there is a limited amount of it, but I don't see how it's gonna happen. From what I see people treat bitcoin as an asset to invest and hold and I can't imagine that will change in the future.
Bitcoin is actually an asset. Bitcoin is money. |
|
|
|
From my understanding, the only way miners can help is by not prioritizing transactions solely based on the transaction fees, but I doubt that will ever happen.
This can not solve anything, it will only make the mempool to become something else. Considering higher fee is better and it will make mining to be more profitable. If the fee is set to just 1 sat/vbyte for all transactions, the mempool will still be congested as it is now and no transaction will have higher chance to be confirmed, so why not accepting higher fee instead so that higher fee ones would first be confirmed which is how it is and it is better. |
|
|
|
I think this is the perfect time for Lightening Network to prove its importance to everyone and even its doubters. Why? Because Binance thinks on adopting it? Lightning is already accepted in lots of exchanges. In fact, it was just yesterday that I mentioned some. More exchanges are using lightning network. You can look at these exchanges, they are all supporting lightning network: There are many exchanges that support lightning network. You can check the list: https://github.com/theDavidCoen/LightningExchangesIf you click on that link, there are 25 exchanges there that are now supporting lightning network. - Kraken
- Bitfinex
- Bitstamp
- OKX
- OKcoin
- NiceHash
TheRockTrading (excluding it because it is said to be a scam exchange and no more existing) - Southxchange
- CoinCorner
- BitMex
- Buda
- BullBitcoin
- Bitaroo
- River Financial
- VBTC Vietnam
- FixedFloat
- LOFT
- PrimeBit
- SimpleFX
- BitcoinVN
- Bipa
- Boltz
- Kollider
- LN Markets
- Tauros
I excluded Paxful because it is no more existing. Paxful has begin operation back, it is no more closed. |
|
|
|
|
Ordinals Inscriptions is the cause of increase in mempool congestion. After Ordinals NFT, there is now ways to create fungible tokens called BRC-20 which led to the more in the rise of mempool congestion. BRC-20 marketcap has surpass $1 billion.
Some people call it another scam. But during the days when Ethereum blockchain started ERC20 and ERC721 (NFTs), some people were saying that it is the beginning of scam. Yes many people were scammed and many people lost money, but there are many of these altcoins tokens that are surving now.
The mempool is far from getting less congested. Bitcoin transaction fee is too much and becoming unbearable.
What do you think can solve what is happening? How can the mempool become not congested again. More miners needed or what?
|
|
|
|
Thank you to our campaign managers, the transaction has been confirmed now. No need move campaign to altcoin section and all payment transaction still on weekly, but you can ask to all participants using Binance segwit BTC address and sending payment trough BinancePay with Bitcoin payment awhile waiting fees transaction back to normal. Just my opinion trough sending Bitcoin with higher fees transaction
Binance pay for what, what should an exchange has to do with this? Nothing. Who can believe in the proof of payment? Only Binance. There is nothing better like making use of onchain transaction and using txid as proof of payment. An altcoin address can be requested for in case of time like this. Campaign managers can pay in altcoins during memory pool congestion which is an alternative. When the mempool is better and not congested as it it now, campaign manager can continue to pay in altcoins is what I think. @cryptofrka, it is left to you people to decide, but we have seen something like that before, not that you are paying in altcoin, but because of how the mempool is just congested for now. There are also lenders that are on bitcoin lending board that are also lending stable coins which are definitely altcoins and their thread has not been moved to altcoin board because they lend people bitcoin. If altcoin payment is convenient for you now, why not use it. Not that you are using it actually, when the mempool is back to normal, you use bitcoin again. I may not be right, but this is just the way I think about it. But the mempool is getting better unlike when it increased to 600 sat/vbyte, now below 200 sat/vbyte. In everything you do, I am okay with it. You are the best campaign managers. If bitcoin is always used for payment, I am good with it. |
|
|
|
The current bear market is it going to be temporary or a long term? for my fellow investors out there, how are you managing during this downturn? are you still holding onto your assets or buying more?
There is bear market again but it is certain that bitcoin will get to all-time-high. It may take a year or two years before this would happen but it would definitely happen. It is not even a bear market to me yet until I see bitcoin at $23000 to $20000 again in the bear trend. This will make me buy bitcoin again significantly. All-time-high is certain. |
|
|
|
if no one mines anymore (because there's a sudden alien attack centered right on the asics, because they built them with a material that will self-destruct on a certain date etc. etc.) the difficulty will drop drastically in a short time. at that point mining will resume Because at least I will start mining with CPU like Satoshi
If the mining hashrates dropped to the extent that people are just using CPU to mine bitcoin, the blockchain security would have reduced so much and it may harm the blockchain. What I know is that all countries can not agree to all ban bitcoin. As one country will ban it, the other country will support it. This is according to what we have seen. Nothing will stop miners to use ASICs. |
|
|
|
The fee was adjusted from 0.0002 BTC to 0.001 BTC. That means the increase is 5 time higher than before. You can see Stompix explanation about how Binance still make money because they send to many addresses at a time, but Binance has to consolidate inputs too though. https://bitcointalk.org/index.php?topic=5451846.msg62209691#msg62209691Binance just want to start bitcoin lightning payment, it is good. If more wallets and exchanges support lightning network, more people will use it. But what I do not like about it is that it is not your coin if it is not your node, most people are not having their own node. |
|
|
|
Or the government threatening to ban the POW mining method because there will be people mining it.
China banned bitcoin mining, but Chinese miners are now the second largest. When China banned bitcoin mining, Kazakhstan become the second largest, but now third largest. Kazakhstan makes bitcoin mining legal and see what that happened recently, the tax Kazakhstan government made from crypto mining. Kazakhstan collected $7M in crypto mining taxes in 2022All governments can not decide one day that they want to ban bitcoin mining. As one government will ban it, another government sees it as opportunity to mine. |
|
|
|
Welcome bonuses , cashback , freespins etc ?
Cashback is not a bonus. First time deposit for newly registered users, rakeback and free spins are the bonuses that I know. Another bonus that I noticed on casinos and other gambling sites are the ones that are given often, especially the ones given to the gamblers that are becoming not active. or what kind of rewards would you like to see in an online casino ?
I like all bonuses like free spin and welcome deposit bonus. |
|
|
|
Wow, the amount of BS in that announcement
- Binance was charging 5x times the fees it was paying it it has always overpaid
- Binance has its own mining pool with 10% of the mined blocks, they could easily process their own transactions
The real reasons are:
- Binance doesn't want to miss on the juicy fees it mines in its blocks
- Binance can't make profits any longer even while overcharging customers with fees
- CZ as always is a piece of s..omethign and has again seen the opportunity to attack Bitcoin to promote his shitcoin
The mempool has gotten congested to the level Binance is no more charging 10x higher. The mempool is becoming something else. Because Binance process transactions with many outputs, if not that, Binance would have been paying more. Bitcoin fee on Binance was 0.0002 which is $5.78 when bitcoin is at $28900.
This is what the mempool is say: mempool.space $8.15 for highest fee at 201 sat/vbyte. |
|
|
|
Binance is charging users more than enough to process withdrawals. It sounds to me like they are having technical issues, and they're not voluntarily doing this simply because the network is congested otherwise, what would "working on a fix" mean? Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals as soon as possible.
Until the network is stabilized sound like it is pertaining to the network, I mean how the mempool is currently congested. If not it, it will still be indirectly related to it. Bitcoin fee on Binance was 0.0002 which is $5.78 when bitcoin is at $28900. This is what the mempool is say: mempool.space $8.15 for highest fee at 201 sat/vbyte. |
|
|
|
|
Show Posts
