Bitcoin Forum
May 14, 2024, 02:32:03 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2016-03-03] Bitcoin’s Nightmare Scenario Has Come to Pass  (Read 286 times)
Denker (OP)
Legendary
*
Offline Offline

Activity: 1442
Merit: 1014


View Profile
March 03, 2016, 03:57:13 PM
 #1

http://recode.net/2016/03/02/bitcoins-nightmare-scenario-has-come-to-pass/

Quote
Over the last year and a half a number of prominent voices in the bitcoin community have been warning that the system needed to make fundamental changes to its core software code to avoid being overwhelmed by the continued growth of bitcoin transactions. There was strong disagreement within the community, however, about how to solve this problem, or if the problem would ever materialize.

This week the dire predictions came to pass, as the network reached its capacity, causing transactions around the world to be massively delayed, and in some cases to fail completely. The average time to confirm a transaction has ballooned from 10 minutes to 43 minutes. Users are left confused and shops that once accepted bitcoin are dropping out.

http://www.theverge.com/2016/3/2/11146584/bitcoin-core-classic-debate-transaction-limit-crisis


Interesting to see how negative people at r/technology see Bitcoin.Kind of surprising to me to be honest.
This subreddit has over 5 million readers.
And this has nothing to do with Classic by the way.This doesn't matter for them.

https://np.reddit.com/r/technology/comments/48rac0/bitcoins_nightmare_scenario_has_come_to_pass/?limit=500
Whoever mines the block which ends up containing your transaction will get its fee.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715653923
Hero Member
*
Offline Offline

Posts: 1715653923

View Profile Personal Message (Offline)

Ignore
1715653923
Reply with quote  #2

1715653923
Report to moderator
1715653923
Hero Member
*
Offline Offline

Posts: 1715653923

View Profile Personal Message (Offline)

Ignore
1715653923
Reply with quote  #2

1715653923
Report to moderator
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148
Merit: 1010


In Satoshi I Trust


View Profile WWW
March 03, 2016, 05:03:42 PM
 #2

the truth is:

most people (even in tech) have no idea what bitcoin is or how it works. just a few tech and finance people understand it. the truth is, that you have to understand a big set of related topics to understand bitcoin:

-tech
-finance
-monetary history
-networks
-politics


btcbug
Sr. Member
****
Offline Offline

Activity: 399
Merit: 250


View Profile
March 03, 2016, 07:07:37 PM
 #3

the truth is:

most people (even in tech) have no idea what bitcoin is or how it works. just a few tech and finance people understand it. the truth is, that you have to understand a big set of related topics to understand bitcoin:

-tech
-finance
-monetary history
-networks
-politics



Goddamn we're smart huh!?  Grin
TraderTimm
Legendary
*
Offline Offline

Activity: 2408
Merit: 1121



View Profile
March 03, 2016, 07:22:10 PM
 #4

Yet another sensationalist headline from the yellow-journalism site Verge.

Here's a better read: https://medium.com/@tradertimm/the-verge-s-nightmare-scenario-has-come-to-pass-10554c533e47

fortitudinem multis - catenum regit omnia
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!