Bitcoin is archaic

[auswalk]

I know it has all the network effects but it's a dinosaur. Transactions take forever, sometimes take days or take client reindexing which takes an entire day. there is little anonyiminiy. Something like Dash has to eventually take it's place. The question is when.

[Jet Cash]

I believe that the transaparency of Bitcoin is an advantage. Most people in commerce don't need anonymity. I can't think of a situation where I would need to conceal a transaction, but, the way the current governments are acting, that may change in the future.

[madonnino]

I know it has all the network effects but it's a dinosaur. Transactions take forever, sometimes take days or take client reindexing which takes an entire day. there is little anonyiminiy. Something like Dash has to eventually take it's place. The question is when.

there are services that can improve the anonimity of the transaction, example mixer services, and for the transaction if you pay the right fee it won't take long time to confirm

[Amph]

you can accept zero confirmation, so it's a merchants fault, there is no real issue in accepting them, all fud, because if there was issue, then bitcoin was simple already died

anonimity is better than fiat, and that everything you need for noe, for better anon mix it with monero, it's okish for me that you need to work a little bit to have better anonimity

[Kakmakr]

Anonymity only become a issue, when you not using a third party for payment and transactions. They have to adhere to all these AML & KYC regulations and you sacrifice that information due to them. The transaction processing is also a non-issue if you use services with off-chain transaction processing.

[auswalk]

I like anonominity but also FAST and LARGE numbers transactions per bloack. Bitcoin is a dinosaur in both catagories. It will never catch on mainstream if these problems persist. That's why it's time for Altcoin v2. And I don't want to deal with stupid tumblers, half of whom rip you off.

[SFR10]

Honestly I don't agree with you on your points here. I've been using it since 2011 and not even once it took more than a day (as you said days) to get confirmed. These cases could only happen if you used lesser amount on fee as required but if anyone uses the standard one, it won't take that long. It never meant to give full anonymity that's why it's pseudonymous. A technology like this doesn't need to be tweaked all the time just so it would be 100% modern to the eyes of some, specially when everything is working just as how it supposed to be.

[auswalk]

Honestly I don't agree with you on your points here. I've been using it since 2011 and not even once it took more than a day (as you said days) to get confirmed. These cases could only happen if you used lesser amount on fee as required but if anyone uses the standard one, it won't take that long. It never meant to give full anonymity that's why it's pseudonymous. A technology like this doesn't need to be tweaked all the time just so it would be 100% modern to the eyes of some, specially when everything is working just as how it supposed to be.

Why should it take a day? Seriously it should take a minute tops. How the hell am I as a merchant gonna wait a day for a transaction to clear. What now I need to pay an escrow service? Just more middle men making the whole thing more expensive. You might as well just go back to VISA/MC.

Dash and other solves all these problems. Who cares what the cryptocurrency is called, as long as we're all using it effectively and getting rid of the banker parasite middlemen.

[Lauda]

I know it has all the network effects but it's a dinosaur.

All nonsense.

Transactions take forever,

They are near instant.

sometimes take days

You're talking about confirmations and even then you're wrong. Stop being cheap and include the recommended fee already. This is an invalid claim.

there is little anonyiminiy. Something like Dash has to eventually take it's place. The question is when.

Of course not. Coins like Dash will never be legal.

Dash and other solves all these problems. Who cares what the cryptocurrency is called, as long as we're all using it effectively and getting rid of the banker parasite middlemen.

Is this some thread dedicated to Dash or something? If so, go back to the shitcoin section. Besides, if these altcoins had any desirable features they'd be already implemented in Bitcoin.

[auswalk]

So you're saying anything with built in anonyminity FINCEN will kill. That's a leap but ok. Not sure if I buy it but it's a legit argument.

Confirmations ARE EVERYTHING. You can't accept a transaction without them. Why do they take hours to day? Bullshit. Let's get a coin out there that fixes this. We aren't living in the days of 300 baud modems.

[Lauda]

So you're saying anything with built in anonyminity FINCEN will kill. That's a leap but ok. Not sure if I buy it but it's a legit argument.

Of course it will. Bitcoin is transparent and pseudo-anonymous. Anonymous coins will not have much adoption outside of the dark net.

Confirmations ARE EVERYTHING. You can't accept a transaction without them. Why do they take hours to day? Bullshit. Let's get a coin out there that fixes this. We aren't living in the days of 300 baud modems.

They're not and you can. Why should my sister/brother/cousin/whatever who trusts me not accept my zero confirmation transaction? Confirmations take ~10 minutes; I have never had a problem with this. It is people like you, who are really cheap when it comes to the fee that have a problem with it. The reasons that altcoins do not have this problem is because they don't have many transactions anyways.

[auswalk]

BTW you're dead wrong on the altcoins man. Plenty are superior to bitcoin but they have no first mover advantage.

IMHO bitcoin it quite a POS from a tech perspective. Hell I think litecoin is better. Bitcoin is slow as hell, and basically 10 year old technology. They either fork it or pitch it soon. It's gonna die eitherway without dragging it into this decade.

The most likely case is the fork. If that doesn't happen, the some new alt coin emerges after a good year of pure chaos.

[Lauda]

You've started trolling with biased opinions. In no way is any released shitcoin better than Bitcoin; let's not even go into specifics as comparing the network security (wake me up when your precious little investments have 1 Exahash). If you don't have valid technical evidence/facts/analysis on why something is better, then this thread needs to be put back to the altcoin section.

[Jet Cash]

I've only received a few transactions, and I haven't monitored them closely, but as far as I can see, they haven't taken more than a few minutes to appear in my wallet. That's fine by me. I think Bitcoin is keeping up with technology - SegWit and side chains are both enhancements for the future. Bitcoin's massive node and usebase give it more security than any other coin imho.

[auswalk]

You can't even have a reasonable conversation about the pitfalls of bitcoin without invoking "trolling".

That's the trouble with this community. and it's bothersome. Bitcoin isn't ready for primetime by a damn site and with atitudes like yours it never will be.

I don't know what the future brings, all I know is bitcoin as is has no future at all. It must adapt or die, like all things.

[Lauda]

You can't even have a reasonable conversation about the pitfalls of bitcoin without invoking "trolling".

Of course you're trolling or you're living in delusion of knowledge. I've presented you with some statements and corrected yours on which you've answered with fallacies (actually ignoring them). Let's not forget that Litecoin is a scamcoin released under the premise that scrypt was not GPU mine-able when in fact it was since the beginning. That's not relevant though.

I don't know what the future brings, all I know is bitcoin as is has no future at all. It must adapt or die, like all things.

If any coin stands any chance of global adoption, then that is Bitcoin. As said, altcoins don't have desirable features and mostly are just bad. If they did, Bitcoin would have adopted their features by now.

I think Bitcoin is keeping up with technology - SegWit and side chains are both enhancements for the future.

Altcoin developers are incapable of creating something similar.

Bitcoin's massive node and usebase give it more security than any other coin imho.

Indeed it does, albeit the number of nodes is not really a reliable metric. You can look at the hashrate for security.

[spartacusrex]

Confirmations ARE EVERYTHING. You can't accept a transaction without them.

Actually - I'm going to say - yes you can. Seriously.

To perform a double spend attack, costs. It costs a lot.

NO ONE is going to try and cheat you, and attempt to rewrite/outrun the blockchain, for 99.999% of txns.

Sure - a 1 million BTC transfer, wait for 6 confirmations. 1 hour. Big Deal.

But for the rest of us, you are absolutely, 99.9999% fine, the single split second after you have received the funds. Which is probably about 1 second after they were sent.

I don't know why no one ever seems to realise this.

If you want to be 'UBER' paranoid, 1 confirmation, 5 mins on average, is all we will ever need. But even that is completely unnecessary for the hum drum low value txns most of us make.

I transferring FIAT money to an exchange, took 7 days (9 including the weekend).. and 8%.

Bitcoin is light years ahead of that.

[auswalk]

There's a lot of noise everywhere . I read where Dash has more nodes than Bitcoin now. Whether that is true or false I don't  know.

Anyway your knowledge outside the bitcoin world is extremely limited. I suggest you read up on the other coins out there and what they offer. To me bitcoin is all about first mover advantage and nothing more. But it's not scaling for sh*t anymore and unless that's fixed you can say adios to bitcoin.

[LFC_Bitcoin]

Really enjoying reading Lauda's posts lately. He/she just destroys FUD, trolls & haters like a wrecking ball.

[Lauda]

Confirmations ARE EVERYTHING. You can't accept a transaction without them.

Actually - I'm going to say - yes you can. Seriously.

Bitcoin is light years ahead of that.

Apparently this thread is about promoting altcoins; it does coincide with ETH spam in the speculation section. Accepting zero confirmation transactions for low value trades or between people that trust each other is reasonable. Nobody is going to try to cheat you for 5-10$, thus all smaller Bitcoin transactions can be considered instant (albeit all are near instant; confirmations aren't and people seem to confuse these two).

I read where Dash has more nodes than Bitcoin now. Whether that is true or false I don't  know.

Indeed it does, albeit the number of nodes is not really a reliable metric. You can look at the hashrate for security.

Again, you are ignoring everything for the sake of promoting altcoins. There is a guide on the Bitcoin reddit page that shows how to create 3000 nodes easily, ergo it is a unreliable metric.

Anyway your knowledge outside the bitcoin world is extremely limited. I suggest you read up on the other coins out there and what they offer. To me bitcoin is all about first mover advantage and nothing more.

Actually you knowledge in general is very limited; just use your head. Anything that an altcoin produces can and will be (if it is good enough) implemented in Bitcoin, which means that no altcoin will be able to hold that advantage.

But it's not scaling for sh*t anymore and unless that's fixed you can say adios to bitcoin.

Wake me up when an altcoin has solved this problem. Oh wait, it doesn't have to because nobody is using them.

Lauda's like a wrecking ball.

I came in like a wrecking ball, I never hit so hard on coins.