Its really weird for me to see people calling a few cents "spiking fees". I very recently sent someone more than a hundred dollars worth bitcoin with only a single dollar fee and it went smoother than ever. This is not an issue, at least not now.  No need to create panic for it. may not be too high if you send a lot of money using bitcoin, but what about someone who does small deals between 0.0005-0.01 btc. of course fee 0.0001 btc will only prolong your transactions? Everyone should avoid single small values like those. If small numbers have to be sent, send to many people with good fee. Manage the number of payments somehow. That's what I do. Just don't let the fee be lowered, increase the number of receivers instead in a single transaction. The problem in this approach would be not all people have multiple transaction. One example is myself. I only transact one transaction at a time. I do not have business or whatever that need to send lots of transaction daily. So I cannot get any kind of discount here since I need to pay the whole transaction fee with just a single receiver in a transaction. |
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Without altcoins the network wouldn't be able to cope with the amount of transactions and the fees would be even higher.
LOL, Bitcoin blockchain is different from altcoin blockchain. And what difference it is when you transfer your Bitcoin into altcoin (Bitcoin transaction is done here when you deposite in an exchange) and then sending your altcoin to another exchange and convert it to Bitcoint (another transaction when you withdraw) and withdraw it? Basically you are creating more transaction here unless you are sending your altcoin to an exchange that supports fiat currency / altcoin trade. FYI, this is not applicable in my country since our exchange only use Bitcoin / Fiat currency exchange. And lots of shop are only accepting Bitcoin( now how can you pay the goods with altcoin from my counry). I think this is what hes trying to say, bitcoin without altcoins will be having the attention of millions of users to bitcoin. No other altcoin is available so the focus is all on bitcoin. So, the transaction of bitcoin will be every second and the bitcoin network will be very busy with all that transactions. Imagine a street full of cars and vehicles because there are no other street other than that. Probably you are right, I was focus on the blockchain and transactions. And eventually this people from the country that does not have an exchange that accept Altcoin to be converted to their currency will then convert their altcoin to Bitcoin and then convert it to their local currency. I still can not see the logic of decreasing network transactions by using altcoin especially to those that only use Bitcoin among the cryptocurrency as mode of payment. |
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Without altcoins the network wouldn't be able to cope with the amount of transactions and the fees would be even higher.
LOL, Bitcoin blockchain is different from altcoin blockchain. And what difference it is when you transfer your Bitcoin into altcoin (Bitcoin transaction is done here when you deposite in an exchange) and then sending your altcoin to another exchange and convert it to Bitcoint (another transaction when you withdraw) and withdraw it? Basically you are creating more transaction here unless you are sending your altcoin to an exchange that supports fiat currency / altcoin trade. FYI, this is not applicable in my country since our exchange only use Bitcoin / Fiat currency exchange. And lots of shop are only accepting Bitcoin( now how can you pay the goods with altcoin from my counry). |
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Unfortunately mostly faucets and odd micro jobs. I figure in my down time at work if they keep me busy, so be it. I don't really have a skill that's marketable via the internet .. ie: graphic design or the like.
That's actually a good sign for you still can learn one skill that you can stick to like learning altcoin trading. Its going to be an easy way for you already are here and will have access to daily to the forum fudsters. Nothing is actually easy but everything can be learned. Stick to which exchange you are used to and you can trade every now and then. Lets say you jsut earn $5-10 per trade you make that's still profitable and will be worth doing for your time. Well thanks for the positivity! I know bitcoin at this point may not be the best thing to daily trade with as the value is so high. What would be the next best altcoin, litecoin? Are there sites similar to coinbase (possibly faster) I could trade in and out of. Or are you speaking in trading as a peer to peer way. I think any day is a good day to trade, but the question of it is a good day to buy, it is another story. Trading involves buy and sell taking advantage of the fluctuation and get a profit and we all know that Bitcoin is highly volatile and we can really make a profit in it. |
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Why do everyone incorporate blockchain and profit in the same sentence .I am sure everyone is wrong in understanding the concept.Banks use blockchain because it is easy to maintain and the logs cannot be manipulated if they start using a block chain and it wont necessarily be an open block chain,they can have an internal structure.
I agree that blockchain and profit are two different things. Blockchain is like a ledger and more likely bank will have a private ledger (blockchain) if they are to use it. Though I can say blockchain can be possibly manipulated if it is private and no one can verify it and all nodes connected to it approved the manipulation. |
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At the current exchange rate, the transaction fee is not very high. But ideally, we should aim for more users, more transactions per day, and a moderate increase in the revenue for the miners. But that is not going to happen if the miners get too greedy. IMO, they should sacrifice some of their revenue now, so that they will get good returns after a few years.
That is one of the points of the argument. The miners will have their greed controlled if Segwit is activated more than if a hard fork to Bitcoin Unlimited happens. Who knows what they will do if they have more control in choosing the sizes of the blocks. I think this is the battle between greed LOL. The other faction said the opposite faction is greedy and they wanted to reap all the rewards by implementing segwit while the other faction said otherwise. All I can see, the increase in fee at this point is not because block is full but because miners only picks the transaction that have higher fees. Who to blame here? The code or the miners? |
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Dice betting - less skills and mostly depends on luck
Poker betting - some skills/tricks and luck
Sports betting - big skills/analysis needed and don't depend much on luck
Dice betting really need no skill, you just need to roll and depend on your luck, so no skill not less skill. Poker Betting that must be the big skill, it is a skill type if gambling if you dont know. It also depends on your luck and also depends on your luck. Sports Betting must be the less skill, we youre deciding skill is needed to pick on a better team or the underdog. It also depends on luck because there are thing that we dont know that might happen. I agree to what you said except sports betting. Sports betting is no less than poker. It needs a lot of skill but not the same set of skill as Poker. but all these games need experience and analysis. Without analysis you cannot have this skills function well. |
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When 1 bitcoin becomes $1000000.  Wow 1 bitcoin becomes $1000000 I think it is not happen even if after 100 years or 1000 years. That amount is so very very big. I think bitcoin hit $10,000 is possible but 20-50 years from now . I plan to sell my all bitcoin when the price reach at $1500-$2000 to make a lot of profit from it. And I want to back the price at $1000 and then I buy more bitcoin and wait again until the price increase. If I wait that price of bitcoin "1Million dollars I think " On that Day Im dead and my grandchildren will see the price of bitcoin but If the bitcoin price will hit that like amount is very big impossible . that is just a funny answer i think. to me as i am interested in long term investment therefore i will like to keep my bitcoin and not to sell for as long time as i can hold. may more that 2 or 3 years of time and then i can expect that the price of bitcoin will be more high at that time and that will be really a good time to sell my bitcoin. Mine, I think of holding for 10 years except if i fell short of cash and needed to convert some. I do believe in Bitcoin price to surge up to $5000 and that is what I think I can sold my Bitcoin. I think it is a decent price to sell and get the profit from waiting. |
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Trading activity is buy bitcoin with low price and sell on high price, it will become high risk if we can not make right prediction and the fact there are not traders who know about the movement of price, we can do hold the coins if we are wrong prediction but the problem we can not get profit/income from trading, that is why we need trading plan before investing into trading include do cut lost if we are wrong prediction.
Well that goes for any investments and i agree, the more you plan and research when you do trading, the higher the possibility of a successful trade. Of course it's not guaranteed that all trades would go as how you planned it, there would be times when you would miss the right time to buy or sell. But in general, proper study and planning can make you a rich person with trading Sometimes, You don't even need to read a bunch of articles and books or watch a lot of tutorials to be skilled in trading. The experience you got when you're trading will make your skills. That's why if you're interested in trading it is always a must to try it and don't be discouraged if you lose since almost all traders undergone what you have experienced. Just to clarify, It doesn't mean that you don't have to study about trading, What I mean is you just have to know the basics. But it would be better if you have the foundation of knowledge about trading. Experience alone is not sufficient to tell the upcoming trend of a market if you do not research the "what is going" on your stocks or read articles on new trends and other competitors, you will probably react late. The thorough research and article reading is for us to know the upcoming or future trend of the market. |
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It's better to invest than save. I think right now, the market is open for any investment available. Wait for bitcoin to stabilize it self on the current market and put your money in cryptocurrency. Saving is a dumb way to make money off of interest rate, banks will always make more.
Why should I care about how much banks will make as long as they give me my profit? Saving is safer and your profit, although not a big one, is guaranteed. Investing in a crypto other than Bitcoin is very risky IMO especially for someone who is new, meaning less than 2 years, in the business. you really save bitcoin is the safest investment in the world cryptocurrency, no doubt about it. if you are depositing your money in the bank to earn a profit then it depends on how much capital you have, but if you invest in bitcoin trading then you can double the profit by the skill that you have. Well I agree that trading with bitcoin will give us an opportunity to double our bitcoin but it will be in risk greatly specially if you are trading in an altcoin - bitcoin pair. I think holding Bitcoin is better to those who do not have knowledge on trading. |
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Have people traded their minds for fecal matter as cheaper and more reliable substitute for brains. I cant wrap my head about what everyone is doing with their money in the announcement section now that bitcoin is on its way to triple in value. It looks like rationality has just stopped to be of any significance for most of u.
Isn't it hypocrisy when you are downgrading other altcoin saying Bitcoin is getting triple in value and chirping for another altcoin? Lol, set your mind straight, Bitcoin or altcoin? Anyway I can see dev is still working hard here, I know you are not getting fund from your ICS since some holders set their sell wall below ICS price, other dev will just be gone but you are still developing project and setting up value for the coin. I hope VTY can gather a huge and strong community. I like your coins distribution design, burning those that were accumulated in your buy wall and from the Club membership. |
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I think the price would rise by further 20% to 30% if they take efforts for reducing high fees and the confirmation time. No one likes to wait to get their transaction confirmed but at the same time paying high fees is not a good option to go with (especially when we have lot more strangers to reach). I would say if we are finding any concrete solution on this issue then it will have long-term positive impact on the bitcoin.
yes that proble is needed to be solve without increasing the fee. people want the transaction to be conform and specially those people who are using bitcoin in their local shops because they cannot wait for a long time in the shops for the conformation. Exactly, I would never imagine myself waiting in a bitcoin ATM for 24 hours to wait for the transaction to get confirmed and the machine dispenses the cash. I am still worried about using bitcoins for local shops (there are not a single merchant in my town but still), it would create huge mess IMO. I wonder if this scenario is real. Honestly i have not use a Bitcoin ATM machine, so i do not have an idea if this kind of scenario is possible. If it is, I think i would go nuts waiting in an ATM that will dispense my withdrawal after 24 hours LOL. Who wouldn't? |
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Trading is unpredictable job for sure, but money management is not. Just my 2 cents.
but i think trading is predictable job but only for those people who ave good experience in trading, they know the good and bad time in trading and most of the time they really give a good prediction about bitcoin, which proof as correct. Even very skilled traders won't reach a 70% rate of successful prediction which can heavily damage your capital especially if you don't know when to cut your looses. You are right its not easy job even you are very good in trading because its completely unpredictable if you are going to do any experiment then this can kill you because its just like gamble any thing can happen any time Trading is predictable if you know how to do it. If you trade blindly then it is really predictable. What I am trying to say is trading have some indicators that will give you hints on the movement of the market. We should learn this skill if we want to profit in trading. |
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I don't agree with the article, but let's explore the critiques:
Is illegitimate: no more so than a recently ipo'd stock in a traditional market. Don't even get me started on penny/small cap stocks.
Volatile: see above
Subject to manipulation: virtually any stock on any traditional market.
So, are traditional stocks "worthless"?
Also, feels like the author might have missed the train, and wouldn't mind bringing it back to them station with a little FUD.
Probably but the mention of altcoin having more advance than bitcoin simply means he is downgrading bitcoin and people should move to altcoin. I do not know if this is FUD to get Bitcoin cheap or a discouragement so that people will hop in on the altcoin he will suggest on his next article if ever he will create another one. |
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I fully agree, the high fees will bite Bitcoin in the ass sometime. The sad thing is that this could've been avoided easily.
Quick confirmation times and low fees should be top priority imo.
Precisely but I don't know why greed and personal gains has been prioritized to cause the down fall of Bitcoin. If the core developers and miners had the common good of the community at heart I don't think this would be happening. Humans are vulnerable to greed. If one pool of miner offers a confirmation service with low tx fee, just like what viabtc is doing (though I hope they up the hourly transaction cap limit for tx accelerator) I am sure this miner that are high fee hunters will be forced to reduce their tx fee charge. But it seems miners are in a consensus to up their requirement for tx fee confirmation. You don't think that viabtc operates out of good will  This is a self-promotion tactic, costing them almost nothing. Every miner operates greedily, you just don't always see their end goal. Like in this case, they are trying to push big blocks because the businesses they are invested in win from on-chain scaling. That's it. It never leave my thought that when some business entity is doing something good, there is always a catch. the last time I used their accelerator, they have this pop up that explains about their agenda. I am not that tech savvy or knowledgeable on what is good for the Bitcoin economy, I just want to use the service in peace and pay the minimum possible fee without any discomfort of waiting too long |
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I fully agree, the high fees will bite Bitcoin in the ass sometime. The sad thing is that this could've been avoided easily.
Quick confirmation times and low fees should be top priority imo.
Precisely but I don't know why greed and personal gains has been prioritized to cause the down fall of Bitcoin. If the core developers and miners had the common good of the community at heart I don't think this would be happening. Humans are vulnerable to greed. If one pool of miner offers a confirmation service with low tx fee, just like what viabtc is doing (though I hope they up the hourly transaction cap limit for tx accelerator) I am sure this miner that are high fee hunters will be forced to reduce their tx fee charge. But it seems miners are in a consensus to up their requirement for tx fee confirmation. |
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Hey! guys i need your opinion and help because i didn't know about this trading thing i only know about how you can earn bitcoin by gambling but still my friend told me that gambling is not the way to earn bitcoin but if you try trading you will earn much profit why is that so guys? trading is better than bitcoin? how? why? where to find that trading thing?
It is will always good and better because trading has a big possibility that can give to any individuals for a better future as well. Due to trading is your own business, and Bitcoin was your own assets, your long term resources which has good team up in terms of profit while gambling is not. It can never be a kind of business to you, nor an assets, or a long long term resources. Lol why is Casino not a business and a trading platform a business? They are both business, and runs as a business, the only difference is the risk of losing involved. In trading you can mitigate risk and cut losses while in gambling, you cannot do such thing because it is just win or lose in online gambling, no draw. |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
Price is not determined by any single person or community. It is determined by general trends. By general trend I mean, forces of market i.e. demand and supply. Suppose, 50 people are interested to buy Bitcoin yesterday and pay $1000 for one bitcoin. Now, 100 people wanna buy it today but supply of Bitcoin is limited. In this case, people will be willing to pay more than $1000 so they can grab Bitcoin rather than others. As a result, price will shoot up. So price increases when demand increases and vice-versa. More in image below-  Just replace word 'Firm' to 'Individuals' This definitely means people make the price of Bitcoin, it is the aggrement between those who sells and those who buy. We do not need to dig deeply on this because without this two factor there will never be a price of any items. The problem with people is that they try to complicate things when a simple word can explain it. |
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Oh no not again.  I just hope my send isn't one of those unconfirmed transactions. I sent a $0.46 fee to send just $50 and that almost bare minimum blockchain.info told me I can send it and get it sent within 60 minutes. Last time this happened it took 24 hours to get atleast 1 confirmation with the same amount sent as this one. I thought they were getting this problem fixed with raising the transaction's miner fee before hand?  Oh common, this is the usual thing common problems in the blockchain, until now my transaction was unconfirmed its been 10 hours ago. I told and asked it to my friend, He just said to me if you want fast transaction give the highest fee amounted 1 or 2$, you've got to be kidding me. The problem here is the future, if the transaction fee keep on increasing doesn't it means that bitcoin transaction will be more expensive than bank transfers or any third party processor that we are avoiding, the reason why we are using Bitcoin? Now this is a battle of who is the highest payer get his transaction confirmed fast and not a third world country friendly. and are you trying to say "come on"? |
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One of those transaction is mine. I have an unconfirmed transaction for 24 hours, funny that even a 31k satoshi transaction fee is not enough now in sending a 0.015 BTC. I wonder when will the developer fix this issue, when will they act together as one to fix the problem. Are miners intentionally setting the transaction fee they pick up that high?
Obviously not. Because I intentionally put added a transaction fee of almost 50% worth of the sent amount towards it. So that is not the reasoning behind with which they choose to send depending on the fee amount put along with the sent amount for the transaction. I did it as a test to see if it did but my findings show it definitely is not!  Does this mean that dev really need a tweak on the block size of Bitcoin to enable more transaction to be accommodated or activate segwit to enable offchain transactions for faster transfer? If it is not the miner, definitely it is the block size, is it? |
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