Could someone explain me how the total quantity of bitcoin is limited to 21 millions? Please, don't tell me it is written in the program  It is. The way mining works is that the miners will mine blocks with the correct block reward and that is the way that Bitcoins are distributed. The block reward is coded into the clients and they will only accept blocks with the correct block reward and that is how they have a limited supply. However, its not perfect and it is impossible for it to be exactly 21 million Bitcoins. Even if it can be, the earlier miners had poorly written client that resulted in incorrect block rewards being claimed and thus the exact value is far from 21million Bitcoins. So is it more then 21 million or less? Am I correct in thinking that one could hard fork and make total supply any arbitrary number? You can create a hard fork in a few minutes with any amount of total supply. |
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Nice 1st post. Congratulations! |
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Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.
proof? Here's the proof dude:  The fees are too high.Do you imagine 10-15$ per transaction buddy? The miners doesn't need fees anyways,the block reward is already decent. Hopefully that now when SegWit take fully effect,transaction fees get snowballed soon.Just to say that 20 sat/byte is not the fees you think we spend at the moment. This is a Xapo issue and not Bitcoin, therefore absolute rubbish. If Xapo decides to rip off their customers it is not Bitcoins fault. Check my test transaction yesterday with 2.5 sat/b, which got confirmed in 20 minutes. https://blockchain.info/tx/3f7832c09687497feef130c6a271c8dda9b5e74d5c8f558ad07428c98273dac7 |
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A few minutes ago i made a transaction and i only payed 0.0008 of fees, worth $4 aproximately,
They are low than a week before, maybe this is because of bitcoin dump.
But it took five minutes to receive the first confirmation, and it received six confirmations after 45 minutes.
I think it is taking less time right now, looks like the blockchain in less saturated at the moment.
Those are good news i guess
Strange. I paid 2 cents : https://blockchain.info/tx/3f7832c09687497feef130c6a271c8dda9b5e74d5c8f558ad07428c98273dac7 |
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Yea bitcoin have really big fees but I heard that in the november it will be hard fork and I hope that this will be some kind of change which will decrease bitcoin transaction fee but I dont have much informations about that but still bitcoin is for me better than some fiat wallets because you dont need to give some your own private informations what is really good to protect your private informations,I prefer you to use smaller transaction fee even if transaction speed is slower because you save more money with that way.
You don't know, what you are talking about. Fee is actually pretty low: https://blockchain.info/tx/3f7832c09687497feef130c6a271c8dda9b5e74d5c8f558ad07428c98273dac72.5sat/b is nothing you should worry about. |
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Currently it can be as high as 0.0005 according to recommended values even for a ~260 bytes one input one output payment, it's not incredibly high but considering the high price for bitcoin this 0.0005 can easily equal a decent amount of $, and this is for a regular tx not one of those 1-2 KB tx's.
https://blockchain.info/de/unconfirmed-transactionsFees are even lower now. |
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What do you mean 20 satoshi per byte? Are you paying that much for a transaction? At the moment BitcoinFees21 says that the cheapest and most fastest transaction can be achieved by paying at least 300 satoshi per byte. And you are paying 20 satoshi per byte? HOW!?
I had to pay 2 dollars for a 6 dollar transaction. I have no idea how much satoshi that is per byte, but it is at least above 500 satoshi per byte. And to be honest, I wouldn’t mind a transaction fee of 20 satoshi per byte. In fact I would dream of that. Such a rate consistently would be amazing and it will really help Bitcoin earn more reputation. Consistently is a key word. I paid in the morning a transaction with a rate of 5 satoshi per byte, but I mostly pay rates of around 200 satoshi per byte.
Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.
Do you think 20sat/b is high??? Who pays 20sat/byte? I've never paid less than 80 sat/byte so far within last 4 months. Sometimes I pad more than 200satoshi per byte? If you're a miner, you're a bad miner, if you're just messing around it, this is not cool. Bitcoin obviously has high fee and low speed problems at the moment. |
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Your IP adress will not be exposed to the public, but if law enforcement wants to track a transaction, they are able to do that.
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Wow, someone seems to be lucky here. I’m always afraid of sending money/bitcoin with a low priority fee. I use the high fees, though it’s costly, but I do it to avoid loss. I’ve experienced some 30 days a transaction with low fee, and it never got confirmed after 24 hours, and I was surprised when it continued till the next day without getting confirmed.
Hey OP did you use any accelerating services to push your tx to get confirmation ?
The only thing I did, was to adjust the fee manually with Electrum. I always do this. |
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I TOLD YOU!  Did you say the same thing when BTC reached $1000? Because soon $1000 is going to be the new $100. Sadly I didnt knew about BTC when it was $100, rather found it after a while when the price was $250 still I guess that was a good price to buy on. Actually, yes, I did tell people to buy when price reached 1000$ One of them said he would rather wait for a dip to 800, when I said, he might not ever see 800 again. He is still waiting for the dip... |
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I TOLD YOU! |
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The fee is as high as people are ready to pay. Try 20-30sat/b and it will get confirmed. It might take 10-60 minutes or sometimes a bit more.
If you hold your Bitcoins on centralized exchanges, they chose the fee for you. It's not Bitcoins fault. Bitcoin is working fine.
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Can you teach me on how to invest in bitcoin wisely? I have a tight budget for it!
If you think, you can get valuable information for free you are plain wrong. |
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Many have been changed to Bitcoins. As I started here it cost just $ 400 now is almost $ 5,000 and nearly x5 is being raised. What do you think the bitcoins are still on the rise? Or it will happen again when it's up and down the price deeply
Maybe something unexpected will happen but we dont know that.
It could be that something will come up or it will just stay as it is. .. You mean, that something will be happening or not? Things will change or maybe even stay the same? Are you Satoshi Nakamoto or where did you get that deep knowledge from? |
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