BTC is harder to mine and the network is congested. If they won't be able to find solutions in the underlying problems here then people will really start go to altcoins
Network congestion is not something that sells a network and it could be fixed in seconds by the development team if they had not sold themselves out and if you look at the charts fees/price then the pattern is clear and my advise is for everyone who's not a gambling addict to put a stop-loss on Bitcoin and sell if it goes below $10,000 20,000 miners to do seven transactions a second is at least 19,000 too many so they have started robbing us instead to pay for the computer wars they are playing against each other. |
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Yes it's slow and the fees are ten times higher than anything else plus the lightning network
and Segwit are just excuses to keep playing people along with the hubs in LN being little
more than mini banks but don't worry they promise to keep the fees low but where have i
come across that one before.
The development team have had weeks to put a maximum limit on fees but it is obvious by
now they won't because they are running the mines and have sold out.
I FEEL ANOTHER BAN COMING UP SOON FOR HAVING THE BALLS TO SPEAK THE TRUTH
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It's safe to assume that OP is referring to hardforks though
Is it ? so why is that unless you only hear what you want to hear. Segwit2x that kicks into gear in two days time does not fit this definition and the term airdrop is not one everyone understands and I hope B2X keeps going down and will let you know if/when I stake my claim from this free gift and if it does look like a scam then I will be the first to call them out. |
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Having Fun if BTC price increasing.
I have put a stop loss on my BTC and will sell if price drops below $10,000 because I will be as loyal to BTC as the miner are too us by putting the fees up from $0.10 to $30+ and i suggest that you do the same. Other fish in the sea to catch but if it's fun you seek then imagine the fun of selling at $10k with fees at $30 and then buying back in at $5k and fees back to $1 and then asking the miners if they are still so cock sure of themselves |
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Bitcoin is for large transactions. Litecoin for small.
They never use to say that and they said "Virtually free transaction fees" in the white paper and if our peasant amounts of money are too small for them we could always move to ETH or Ripple and use a single currency for all our needs. I am no stock broker but I look at the charts and I see fees up, BTC price down but the chart that i want to see is "Loss of trust" in Bitcoin development team |
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Pretty accurate imo, all Bitcoin miners would flee to BCH or any some altcoin as this is all lucrative business for them.
Best new I have come across all day that is or did you really think we needed like 20,000 full nodes just to commit a mere seven transactions a second to the BC ? Not enough cream left to go around and if the development team was on our side then they would simply put a limit on the maximum fee size. I Like what the OP has suggested but to be honest if this mess with fees does not get sorted out soon then it won't be a problem because people are leaving like mad as it is and both Ripple and ETH are now both performing more transactions per hour than Bitcoin so yes the writing is on the wall and I have now placed a stop-loss on my Bitcoin dust at $10,000 |
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Unless you can find blockchain based cryptocurrency which allow zero tx fee and their block isn't full (which means 0-conf is safe), i suggest you to use DAG based cryptocurrency such as IOTA, byteball and RaiBlocks.
oh dear, that did it after i told him his left ball would not fall off and your talking about "byteball"  RaiBlocks I think is the one that uses gossip about gossip and works like a data stream and is another name that pops up a lot but I didn't really understand it to see how it store data so many I am getting too old for new concepts like that. |
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Anybody has a good idea, what we can use as ready to go stuff for such purpose? Otherwise, we will go for brand new BC with similar protocol as Gorbyte nex gen BC..
Yes think ahead, next gen but i have not come across Gorbyte but also look at what you can learn from HashGraph and slightly dated IOTA. BC will work as block-matrix distributed network and a small amount of centralization won't make you left ball fall off , honest gov |
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Well you can forget fast food because of the transaction time with Bitcoin and who could afford
to tip the waiter after being mugged by BTC miners for $30 per transaction.
if the road is broken then no point buying a car.
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Read the bitcoin whitepaper and an article on Blockchain101.
Would that be the white-paper that said "Virtually free transaction fees" or the one that talks about "Decentralization" because that is going with the Lightning network not that its the worse move! Bitcoin is like the grand old steam engines, its days will not last much longer unless they change the engine because it won't scale and a patch-up of half block , half off-block will not cut the mustard. Block-Matrix or IOTA Tangle is worth learning but people smarter than me seem to think HashGraph will be the way to go and maybe the old stream engine could had lasted a bit longer but not with coal reaching $35 per transaction so just like in the UK the miners have done themselves out of a job if you ask me. |
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Secondly there are negative reports regarding the unreasonable transaction fees for small payments.
$100 for coin payment is not small, we are not dealing in government treasury notes here and being charge $35 for the transaction is a total joke and it said in the white paper "Virtually free transaction fees" Still, Bitcoin remains up over 1000% since Q1 2017, so is still in a very strong position. With both ETH and XRP going up faster it does not place BTC in a string position and these two will both knock BTC off the top if they don't sort the fees out and get them back below $2.00 per transaction and that's still high. Fees up = Price down |
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Well Coinbase ripped me off on my $10 joining bonus and won't give me my Bitcoin gold
so I am very open to looking abroad when it comes to exchanges.
I wonder is Binance will list Segwit2x because I want to "Buy on the dip" so to speak
so please dump this coin and send it's price down to $10.00 to make me happy
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MAh, I don't think split it into smaller units will help it.
No not when it comes to moving the decimal place but they need to split the block-chain up and move towards using a block-matrix because this is the reason Bitcoin will not scale plus they knew this nine years ago. Forget Lightning, it's a sticking plaster that uses mini-banks called hubs and if block-chain is so good like they keep saying then lets keep it all on block with maybe a minimum value that can be sent as something like $0.10 to stop spam. Ripple says you can send real small amounts but it would not work for me when i tried to send $0.50 to a test wallet but it worked fine with $1.00 so they need calling out on this deception |
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Projects like this often take several years of work by dozens of developers
and many of them are highly paid !
I mean the test environment alone can cost $200,000 plus so please tell me
what is the secret for this off the shelf approach to bespoke software
Maybe your skills are being wasted working for other people and you should
build and profit from you own new super fast and efficient coin/token if you
think that you have what it takes.
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The only reason those coins seem to have no scaling issues is because they lack scale to have scaling problems.
Agree 100% and they can play around like ETH with block sizes or timing but the old steam engine will not go much faster and scale. Nothing at all wrong with block-chain but Lightning is a useless sticking plaster that looks like a scam to me and I am far from alone in saying this and they can forget playing us along for a completion data because it would only take seconds for the development team to put a quick fix in for the crazy fees we are being forced to pay. public static money MaxFee=1.50 // 20,000 is too many miners, those that don't like the rule are free to leave I can only assume that the dev team have become greedy and are owned by the bankers. See https://www.youtube.com/watch?v=UYHFrf5ci_gLets keep everything on the block and all we need is to use block-matrix to break the 200gb of data down into a more manageable size and distribute that between nodes and yes it will include some degree of centralization but no more than is being built into Lightning anyway Already Bitcoin is full of scams so whats it all going to look like when half my data is on the block and others parts are hidden away in private ledgers, do one thing or the other boys |
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2. Lightning Network which proved can manage million users/payment while keeping decentralization
Yes but only if we have 100,000 people all spending $1 each morning to buy a coffee from the same shop at the end of the street for month after month. As soon as anyone close a channel with a banking hub that charges fees then the balance hits the block-chain and then we have inter banking settlement between hubs so again these transactions will hit the block-chain We have also added a degree of centralization into the process for the hubs/banks and forget the carrot of hub fees will be low because we have already seen "Virtual free transactions" from the original white paper become $55 per transaction. Bitcoin was sold on the back of this wonderful new thing called the "Block-Chain" so lets stick with all transactions staying on the block chain instead of changing religion half way through life. The same type of centralization used in Lightning could be used to distribute the block-chain across many nodes and is called Block-matrix so that we don't have 20,000 full nodes all trying to sync data in a 200gb file which was never something that was going to scale and they knew this from day one. Maybe what i say upsets big oil who like all the wasted energy, Intel who loves CPU wars and both the miners and developers who seem to want to come up with excuses for mega high fees but if they keep this game up then Bitcoin will soon be knocked off the chart just like IBM in the 1980's |
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For blockchain networks with low block solution difficulty, mining one hardfork block is not a problem. To hardfork Bitcoin at it's current difficulty, that's a considerable infrastructure investment (hashpower, location, electricity outlay etc).
Yes it's a pointless CPU-War between miners that keeps Intel and big oil happy but no one else and the joke is some of the 20,000 miners could be earning a honest living by helping Bitcoin to scale and keeping everything on the block-chain by using block-matrix instead of using a sticking plaster like Lightning. if Block-chain is so good then why is the new buzz word "off-block" |
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That would be merely an airdrop, the answer by achow101 is the correct one.
While one may argue that the result is mostly the same, hardforks are still usually deployed by having nodes follow the canonical Bitcoin consensus until a certain block is reached, after which a protocol change and subsequently the hardfork is triggered. Sometimes successfully, such as was the case with BCH despite a slow startup, sometimes not so successfully, as was the case with B2X that stopped working due to a bug in the forking logic.
The question was about forks and did not mention hard forks and so far as I understand things Segwit2x used this process and is called a fork in most articles that I read and the dev teams seems to be very pro-active in fixing some of the problems with the code that they have copied. Indeed B2X could be a pump and dump for all I know but I have not come across news of this "bug in the forking logic" that you mentioned so maybe you can provide a link please. Looks to me that B2X fork is still going ahead on the 15th https://bitscreener.com/coins/segwit2xI will be happy to receive these air-drop coins and Bitcoin Gold if Coinbase gets it's act sorted out and gives me what they own me so that I can play without having to give miners $25 just for sending a $1 test coin to me wallet. We should carry on our debate about hubs being mini banks in the lightning network and yes I know, Segwit2x is going to use LN too which is a big cross against them as is trying to bolt on "Smart Contracts" but we will see. |
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Seriously, it's crazy to sit by watching price change and then swing to action at such short fall or rise.
Anything other than that makes you a simple robot, no life away from keeping your eyes on the charts...and how many exchanges/currency interchange can a human possibly handle simultaneously?
Will like to know more about the bot thing as well but some day traders monitor price swing manually.
I agree but it would be fun writing something to beat the other bots, cyber wars if you like which is just what we have anyway when it comes to Bitcoin mining but that is more of a CPU war that was created from the original white paper from double agent : S-M The exchanges are encouraging this if you ask me so its good if everyone at least knows what they are up against when they play these slot-machines |
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You pick a block number and when the block is mined you take a snapshot of the block-chain and then download the latest Bitcoin code from Github and make a few tweaks to the code to increase the block-size and make changes to the block type. Then you need 20 or so machines to host the new code (Not 20,000 like we have now) and to make a few changes to the wallet software and away you go. 80% of the code is concerned with mining and is not for the benefit of the users but it all like taking a copy of MS-DOS 3.2 and tweaking it to make Silly-Dos because the whole thing is outdated and won't scale but it is a starting point so good look to Segwit2x, Bitcoin Cash, Bitcoin Gold because they don't have crazy high transaction costs like Bitcoin and maybe the development team is on our side Anyway if block chain is so good then how come lightning is being sold on taking things off the block because they seem to me a contradiction here and they are not being clear about the hubs that charge fees being just another name for mini-banks https://www.youtube.com/watch?v=UYHFrf5ci_g |
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