The developers are ruled by the miners and are just coming up with excuses and Segwit wallets are hardly any cheaper in fees than normal fees so they will keep yapping and ensure the block-chain is slow regardless of block sizes. Lightning Network is about turning Miners into banks and we are being sold a lie, bread today, jam tomorrow. See https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400if ETH can get the transactions per second up from 7 to 15 like years ago then it does not take a programmer to know the development team here could do it also. |
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"Bitcoin as payment system" Well it's useless for that and apart from not scaling they are going to take most of the transactions "off-Block" and introduce banks that they are calling hubs on the "Lightning Network" that won't be as fast as the name suggest See https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400Fees are killing Bitcoin and it's no longer works as a currency with it's $30 transaction fees but before you all rush out and convert to Segwit wallet be warned that the savings are not that good. Miners pull the strings of the development team and we are getting ripped-off |
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if price differnces lasting longer than couple of minutes, then something is wrong with the exchange. In this case it is high withdrawal fee and especially long withdrawal time. If you look at their official bitcointalk thread, you will see alot of complaints that withdrawal took days, weeks or even months (or not even possible if you are based in US)
No me is in the UK and thanks for the tip Maybe getting money out would work faster for me being over here and not in USA is it free to send BTC to them apart from the crazy high fees we have from BTC Miners |
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Yes, I thought about it but there are already so many gambling websites and opening a new one without any knowledge or skill can lead to the destruction of the website.
It will have a huge amount of bugs if I program it in starting there's no funding issue but exploiters can exploit those bugs easily.
Sounds like you need a man like me on the team because HTML is wot I do if you have a good plan I like and would put the effort in like me |
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Well, if you look at my nickname it's obvious that I love alcohol thus I will probably invest bitcoin in alcofactory and make some spirits named like Bitvodka or Cryptoquila  it will be very popular I think I make my own and it's the best shit you ever tasted because I don't like the taxman ripping me off |
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I have been doing some jobs on the forum for quite a long time now and I am out of side business ideas except Signature campaigns and lending. If you have any idea lets hear it out that can provide potential income then let us hear it out.  Just what is a "Signature campaigns" ? Most people doing coins are gambling, give them what they like and open up a dice game or something better |
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Do they charge high fees to join or something so they lock the traders in
or is it because the exchange is based in England ?
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I think that Neo is the second Ethereum. And as we know the Chinese are very well able to forge and even exceed the competitors. I already bought NEO and aims to keep them 1 year. If Neo will be smart contracts can outperform Ethereum. If you want to invest , do it wisely.
Trouble with ETH is just like BTC and it will not scale which any two bid software developer knew from day one. I know nothing much about playing markets (I ADMIT IT) but ETH i think is a good investment because it earns "gas" by hosting other alt-coins but really us tech freaks need a replacement and NEO will receive my attention because it has cropped up several time now on my radar. oh yes, Bitcoin Lightning Network is a collection of mini banks, forget the propaganda they feed you here because it will NOT turn Bitcoin into a racing machine but depending on how it is used (subject to banking fees) it will only speed Bitcoin up by a factor between 5-10 times it slow speed of just 7 transactions per second today. |
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Could anybody more knowledgeable than me please give me a basic explanation, it will be much appreciated as I plan to switch to a segwit address ASAP as these fees are horrific.
I agree but I read today that Segwit fees don't add up to much saving and remember very few exchanges will work with Segwit plus the conversion of the address can cost you $30.00 Time we all started screaming in other web-sited on the internet I thinks |
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A lot of inexperienced people believe that in a market you can win forever! Sorry, you can't.
Welcome to the real world.
Best quote of the day goes to this post. |
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I don't think so. I would be very surprised if it went back to $9k.
The panic as it went below $10,000 did not happen and BTC often moves around 25% in a single day so yes $9k is possible and it's good to see someone who's not always "Buy on the dip" it's about to let rip. We are being feed like sheep and told whats making it go up or down but I a starting to think all the coins are just different slot machines in the same casino and USDT is where the pumping get done and that it's not backed by any USD so it's money on demand |
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While I do recommend upgrading to Segwit, keep in mind that it was just a small linear bump in transaction capacity. You might save ~50% in fees by using a Segwit wallet, but that's it. It doesn't solve the exponential scaling problem. Lightning will hopefully result in much lower fees for the currency/payment layer.
Someone posted somewhere here today that he was expecting to save about 80% by switching to Segwit but it was closer to 20% but when it comes to Lightning you might like to see my research on the subject See https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400I will do part two later in a week time but yes both myself and others are saying that hubs are banks and the miners that could not control themselves who brought us $30-55 in fess will be hosting these banks because they were in early on BTC so will have the Bitcoins to load up the channels for the banks |
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Thanks for the warning
When its not Microsoft leaving back doors open it's google and the both share the same
paymasters who's name we dare not mention
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Bitcoin's mining problem is decentralized - you need to find a hash for a new block with some amount of zeros, and since you have to include the hash of the previous block, this task is self-updating. The problem with alternative systems is that many of them require some central node that gives tasks - for example Raiblocks have centralized servers that acts validates all captchas. Similar thing with Gridcoin - it relies on BOINC servers, so it's not truly decentralized like Bitcoin. So, for human-based mining you need to create a system of tasks inside the network rules. Now, economically, the easier the task (like solving captcha or pressing like) - the lower the price of a coin would be, so you'll need some mechanism that adjust reward/dificulty to the processing power of the network. It's really hard to create such system and it's not even clear if it has any benefits over traditional mining.
Well number one we manged without mining and burning out CPU's for year and keeping Intel, AMD rich in the process and we see new crypto-coins that don't use mining and they can do more than seven transactions a day. Clearly you must see by now that the "Every man for himself" does not work and centralization is not so black and white because it leaves you open to silly things like 51% attacks and warming the earth up plus crazy high transactions fees. Miners use mining pool, they find them on-line using web-sites so is that centralization too ? |
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For me I noted a small reduction in fees using SigWit.
Tell me why am I not surprised to hear that and thanks for letting us know so hope you recover it out of the fees you had to spend to convert it in the first place. |
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Undoubtedly, today the market behaved very well showing this increase in prices of both Bitcoin and Altocoins, bringing relief to many people. I was very happy with the data showing the reaction of the coins. Besides, I would just like to add: they are things of this kind that make Bitcoin so important to me, because it allows me to believe that if we have patience, we will not be disappointed.
We know Mr "CASINO ★ Pyramid Plunder ■□ Jewels n Gems [◉◎◎] Roulette ( +•) Video Poker [♠]" who says "they are things of this kind that make Bitcoin so important to me" and I don't mind a little gamble myself once in a blue moon and laugh as my bit-dust goes up or down but i am dammed if I will stand for miners mugging me when I enter the casino and doing it again when I leave for $30 in transaction fees each time. Hope your taking other payment methods or you will soon be out of a job |
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The 1800 obviously won't happen but 2018 won't be anywhere near like 2017 was. Btc has it's well known problems and until those problems are solved I see no reason why the price should be more than 10-15. 20k is a pumped price. When the lightning network will be ready then we can talk about the next big jump
Yes ye old "lightning Network" will save us See https://bitcointalk.org/index.php?topic=2776719.msg28395400#msg28395400Alice wants Bob to help her pay for her breakfast using his channel |
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Well L@@K I will give you a confession
I was warning people days before it went below $10,000 to put a "Stop-loss" on BTC and got abuse for it but
on that part I was right but then I expected it to crash down to about $5-6,000 as panic set in which I wanted
to see as payback for all the "know it all's" buy on the dip like they have been saying since BTC was last at
$17,500
Yes sure it would had cost me some dust but unlike a lot of people here I am not a hardened gambling
addict who fails to admit it.
My guess give the lack of panic is the casino boss won't do much for several weeks but longer term
both Ripple (spit, spit I know) and ETH will overtake Bitcoin as the new top bosses and if you look
at the transaction numbers you can understand why
It was the fees that killed it
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Do you think Bitcoin will survive after 100 year ?
With transaction fees at $30 just to store 250 bytes of data at a rate of just seven transactions a second I
think the OP was trying to say "will survive after 100 day ?"
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It is true and I never said that one can't make some dough!
This is not dough George, this is some serious johnny nash and all we have got to do is back the right horse with a pony out of 2,000 ICO's and we could be set to paint the town red with two and a half score  it's OK people, he's blitish and knows wot i mean |
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