I feel pity for bitcoin

[virtualdn]

No need to. This coin is here to stay for a long time and I truly believe it will have a bright future.

[1714125691]

1714125691

[1714125691]

1714125691

[The Sceptical Chymist]

<snip>There are some old folks very happy to collect stamps, you know.

Hey!  I collect stamps, I'll have you know and I'm not old.  I also write letters and pay my utility bill the old-fashioned way with a check through the mail.  And I still text and use a smart phone and all the other new-school ways of communicating as well.  And I use bitcoin, and from my limited understanding of bitcoin I think its problems are way overblown.  But I do admit my understanding is limited.  I don't want any dissing of stamp collectors here.  LOL

[johnyj]

Gavin is radical but I have to admit he is objective most of the time: Hearn is just too pessimistic

[randchingo]

I don't think BTC will be damaged that much by Hearn choice to leave, it's a free market and if you couldn't convince others to follow your opinion "or at least the majority of them" then that's it. Thanks for Hearn for all his effort with BTC but calling it a failed project is over-the-top IMO

[AGD]

Death of Bitcoin delayed again: 420

[MyBTT]

<snip>There are some old folks very happy to collect stamps, you know.

Hey!  I collect stamps, I'll have you know and I'm not old.  I also write letters and pay my utility bill the old-fashioned way with a check through the mail.  And I still text and use a smart phone and all the other new-school ways of communicating as well.  And I use bitcoin, and from my limited understanding of bitcoin I think its problems are way overblown.  But I do admit my understanding is limited.  I don't want any dissing of stamp collectors here.  LOL

The problem that Bitcoin was dead was a small thing at the start and then now it has become a huge deal. What are we doing?

[angaper]

Wow, what a pessimistic outlook about the bitcoin future...! But unfortunately it seems a very realistic idea about what could occur with this technology given these negative conditions. I have been always aware of it and that is why I prefer to diversify my investments, avoiding any excessive confidence about the future of bitcoin.

[NorrisK]

<snip>There are some old folks very happy to collect stamps, you know.

Hey!  I collect stamps, I'll have you know and I'm not old.  I also write letters and pay my utility bill the old-fashioned way with a check through the mail.  And I still text and use a smart phone and all the other new-school ways of communicating as well.  And I use bitcoin, and from my limited understanding of bitcoin I think its problems are way overblown.  But I do admit my understanding is limited.  I don't want any dissing of stamp collectors here.  LOL

I agree, some of the issues at hand seem to be very overblown.. I understand you don't want to hardfork a system like bitcoin whenever it suits you, but if it is needed, it should be done.

Unfortunately, many of the developers and miners have their own agenda, making it very difficult to propose changes that most people can live with. This is what causes the problems.

[countryfree]

<snip>There are some old folks very happy to collect stamps, you know.

Hey!  I collect stamps, I'll have you know and I'm not old.  I also write letters and pay my utility bill the old-fashioned way with a check through the mail.  And I still text and use a smart phone and all the other new-school ways of communicating as well.  And I use bitcoin, and from my limited understanding of bitcoin I think its problems are way overblown.  But I do admit my understanding is limited.  I don't want any dissing of stamp collectors here.  LOL

You can rest! I've got nothing about stamp collectors. I used this as an example of a group with static, or nearly static user base.

Let's look at snapchat: it gains more new users in a single month than BTC does in one year. Why? I've been here long enough to remember that where there guys saying that BTC would grow bigger than Facebook. It hasn't, and nobody's saying that anymore. BTC has just stalled. It's not dead, nor dying, but the huge growth everybody was expecting is nowhere in sight, and one reason behind this is the scalability issue. BTC needs to be able to grow ten-fold this year, and one hundred fold next year.

[Kevin77]

Wow, what a pessimistic outlook about the bitcoin future...! But unfortunately it seems a very realistic idea about what could occur with this technology given these negative conditions. I have been always aware of it and that is why I prefer to diversify my investments, avoiding any excessive confidence about the future of bitcoin.

Try your own struggle, the problem with that will be solve sooner, problems occurr everywhere and also some of the users at there leave to work at there, but the system does not stop. Someone there solve the problem. I do not worry about bitcoin ecosystem, it will overcome, there is no need of diversifying my investments.

[foggyb]

Let's look at snapchat: it gains more new users in a single month than BTC does in one year. Why?

That's a poor comparison. Snapchat is free, costs nothing to use, and has no risk to entry. Bitcoin is more useful in the long term, but its money after all. Snapchat is a toy.

[lottery248]

Death of Bitcoin delayed again: 420

it is now around $390 AFAIK, bitcoin is now considered to be 'impending dead' once again.
that's too funny that bitcoin has 'dead' for at least 50 times.

[ausbit]

Death of Bitcoin delayed again: 420

it is now around $390 AFAIK, bitcoin is now considered to be 'impending dead' once again.
that's too funny that bitcoin has 'dead' for at least 50 times.

No problems brother, its a part of Bitcoins life. It will go up but once some people withdraw good amount of Bitcoins and less usages there it goes down. So can get the rate what we want, when we all hold our Bitcoins till 450 dollars.

[bitbaby]

Sorry but I don't understand what you're getting at OP. What do you suggest?

Are you suggesting we should support hard fork? because thats what I feel like you're saying.

I really wonder why some people are really pushing so hard for hard fork.

[Palinanv]

Why feel pity for bitcoin? We are still quite popular. We're being occupied by new people all the time and it is wonderful. I never have any issue with Bitcoin. My only issue is what people say about it without ever occupying it themselves.

[gregyoung14]

Why feel pity for bitcoin? We are still quite popular. We're being occupied by new people all the time and it is wonderful. I never have any issue with Bitcoin. My only issue is what people say about it without ever occupying it themselves.

Very true. Not to mention there are big players coming in the game and new merchants supporting Bitcoin. Haters gonna hate bro.

[KiwiParty]

The problem about the blocksize is a substitute. The real "problem" is chinas influence on BTC.
The governemnt does NOT accept it, but they maintain most of the mining.

BTC rate will never go to the top in this situation, the half step next year could most likely bring a higer rate.
Between $600 and $1000 seems possible. If, this continues as it is.

Transactions and mining are chained together, it will become one business, simply that.
china had 4 trillion dollar in foreign currency. The Yuan has become reserve currency, accepted by the IWF.
They are increasing their influence. And for a lot of BTC enthusiasts this equals less freedom.
Let's be honest about that.

In the worst case we will have ideological differences reflecting the imminent boundaries between different cryptocurrencies.

[Nomad88]

Isn`t coming up faster miners can solve this issue? If machines are processing blockchain faster, perhaps problem could be solved? It might sound like a stupid question, i just don`t know much about the problem yet.

[kn_b_y]

I think the way to go is by using payment channels which can be set up as an address on the blockchain, and then used repeatedly off-chain.

Doing this with a properly set up network (the so called Lightning network) of intermediaries (who don't need to be trusted) will mean far fewer blockchain transactions - and another advantage is that payments are instant. If it happens, bitcoin would (and could) definitely absorb new users.

I'm not sure what the current status is. Last I heard a soft fork is needed to add OP codes.

I'd love it to happen - in my opinion, this is the smart solution to the scaling problem.

[KiwiParty]

I think the way to go is by using payment channels which can be set up as an address on the blockchain, and then used repeatedly off-chain.

Doing this with a properly set up network (the so called Lightning network) of intermediaries (who don't need to be trusted) will mean far fewer blockchain transactions - and another advantage is that payments are instant. If it happens, bitcoin would (and could) definitely absorb new users.

I'm not sure what the current status is. Last I heard a soft fork is needed to add OP codes.

I'd love it to happen - in my opinion, this is the smart solution to the scaling problem.

quite illusive.
the discussion about the maximum block size is flanked by too many different arguments.
Proposals differ from the kind of your suggestion to just doing nothing.
As the size was very much larger at the beginning, it is most likely this is going to happen.
Why?
the 1MB is not an elementary part of BTC.
and, it is the best solution in terms of complexity. Much easier to implement than splitting it up.
Kicking the can down the road, is by what I undertood, a mere politcal statement.
Not the most senseful in terms of BTC.