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Author Topic: Heading for a brick wall. SegWit failed.  (Read 2648 times)
kwukduck
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January 29, 2017, 01:29:28 AM
 #1

It's been two months since SegWit, the magical non-solution, was introduced.
After its release adoption appeared to go quickly for a few days but stabilized after that and is now declining again.

With less than a quarter (23%) of the network accepting/supporting SegWit I think it's safe to say this adaption of the protocol will not be accepted by the community and the blocksize/scaling issues will escalate. Bitcoin will remain as it is without being able to handle more transactions and being more efficient.
Pretty much every block is full nowadays and waiting for confirmations can take many hours, sometimes days if you don't put in an extraordinary high fee.

Don't get me wrong, i think SegWit is a smart and important change in the protocol but it is not the solution it is often advertised to be.

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January 29, 2017, 02:10:45 AM
 #2

Holy @#$!, a non BTC is dead (Just segwit) post from kwukduck? We not going sub 100 buddy?? How come you're not trolling the low exchange volume??? What's the story, you just getting bored?
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January 29, 2017, 02:24:58 AM
 #3

FUD. I have made many transactions all with .0001 to .00015 each in fees and I have never encountered a transaction that took more than a day. Sometimes it took a few hours longer but it did not take very long. If what you say is true then there should be hell in this forum going on right now. Relax everything is alright.


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kwukduck
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January 29, 2017, 02:29:45 AM
 #4

FUD. I have made many transactions all with .0001 to .00015 each in fees and I have never encountered a transaction that took more than a day. Sometimes it took a few hours longer but it did not take very long. If what you say is true then there should be hell in this forum going on right now. Relax everything is alright.

The only reason there's no 'hell' on this forum is because the vast majority is delusional and everybody keeps telling everybody else to look the other way and everything is fine. Meanwhile the house is burning.

Explain to me how the refusal of SegWit adoption and currently continuous full blocks are not a big problem, please enlighten me!


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January 29, 2017, 02:35:47 AM
 #5

I think this is really a serious problem because no matter how many nodes and miners we have every 10 minutes for blocks with this small size is just pure trouble, I don't know though what exactly is the problem if we had bigger block size?

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January 29, 2017, 02:43:13 AM
 #6

SegWit in its current form won't be pushed through - you are right here. But this is not the end of the line.
It is not like SegWit was the only way for bitcoin to fix block scaling debate. We will have another solution to the scaling problem.
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January 29, 2017, 03:42:16 AM
 #7

Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining



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RoommateAgreement
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January 29, 2017, 03:50:22 AM
 #8

FUD. I have made many transactions all with .0001 to .00015 each in fees and I have never encountered a transaction that took more than a day. Sometimes it took a few hours longer but it did not take very long. If what you say is true then there should be hell in this forum going on right now. Relax everything is alright.

The only reason there's no 'hell' on this forum is because the vast majority is delusional and everybody keeps telling everybody else to look the other way and everything is fine. Meanwhile the house is burning.

Explain to me how the refusal of SegWit adoption and currently continuous full blocks are not a big problem, please enlighten me!



the reason for that is because we are sending transactions so we know how much it will take to confirm our transactions.
yeah there are temporary times that there is a spam attack like recently and the mempool gets big, but it will last a couple of days and we are back to normal again.

if you hadn't sold your bitcoin on $1 you could send some bitcoin and see that Cheesy

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January 29, 2017, 03:51:36 AM
 #9

It's just so shitty that segwit didn't take off the way we expected it to. It does seem like a bandaid for now but it does solve the block issue.
Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining

Sometimes there are huge waits because ten of thousands of transactions are waiting along with yours.














 

 

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tabnloz
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January 29, 2017, 04:05:34 AM
 #10

FUD. I have made many transactions all with .0001 to .00015 each in fees and I have never encountered a transaction that took more than a day. Sometimes it took a few hours longer but it did not take very long. If what you say is true then there should be hell in this forum going on right now. Relax everything is alright.

The only reason there's no 'hell' on this forum is because the vast majority is delusional and everybody keeps telling everybody else to look the other way and everything is fine. Meanwhile the house is burning.

Explain to me how the refusal of SegWit adoption and currently continuous full blocks are not a big problem, please enlighten me!



Litecoin will probably implement it first.

The initial plan (I thought) seemed a good compromise; enact SegWit and plan for blocksize increase at specified date in the future.

But trust has eroded and now it is personal and political.

Hopefully it gets sorted soon, if no hiccups it would really drive us forward.
kwukduck
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January 29, 2017, 04:14:23 AM
 #11

Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining


When you're going to lie about something i recommend you do it about something that's not so easily checked by people...

For the last 1000 blocks (blocksize in bytes)
Mean   882,942
Median   927,633
Mode     998,640

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January 29, 2017, 04:25:19 AM
 #12

Decentralized right? wrong, miners are an organization dictating their own terms, I wonder though what happens if someone temporary becomes the majority and activates the segwit? is the proposal still available or not?
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January 29, 2017, 05:14:48 AM
 #13

Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining
When you're going to lie about something i recommend you do it about something that's not so easily checked by people...

For the last 1000 blocks (blocksize in bytes)
Mean   882,942
Median   927,633
Mode     998,640

that is right and they are spamming the shit out of the network or have you forgotten that blockchain is a public ledger that everyone can see and find out any shenanigans on it?
here is one of many addresses involved:
3DFxwfbPhPcqwXDKAZs83pWGuwasYKqdyR

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January 29, 2017, 06:59:11 AM
 #14

Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining

You are off by 6 months on the block reward bit. We dropped from 25 BTC to 12.5 BTC in July 2016.
The fees are still very small when compared to the block reward.

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January 29, 2017, 07:34:47 AM
 #15

FUD. I have made many transactions all with .0001 to .00015 each in fees and I have never encountered a transaction that took more than a day. Sometimes it took a few hours longer but it did not take very long. If what you say is true then there should be hell in this forum going on right now. Relax everything is alright.

Only one day?! LOL LOL LOL. And you think he is FUDding. Bitcoin is deeply fucked my friends.

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January 29, 2017, 07:58:34 AM
 #16

Rarely the bitcoin blocks reach anywhere close to 1mb, the big delays usually happen because the miners are greedy and want to make people pay higher fees, even if the transaction reward by block is far lower than the 25 reward of mining

the problem is that bitcoin is auto-negating itself the possibility to grow with this limitation, so the fact that the block are not constantly full is not a valid argument to delay the solution forever

it's a fact that with this limit bitcoin will not grow to the global level, there is no going around this, you will reach a point in the future when the distribution will be greater, where a big portion of the mass will not send bitcoin anymore, because fee will be too expensive

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January 29, 2017, 09:15:12 AM
 #17


When you're going to lie about something i recommend you do it about something that's not so easily checked by people...


You mean like all your bitcoin is dead and bitcoin is going to $0 posts and your general trolling?
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January 29, 2017, 10:23:53 AM
 #18

I'm sure later bitcoiner will be forced to accept SegWit or find another solution which is better than SegWit to fix current bitcoin problem Roll Eyes
So, i think SegWit won't fail.

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January 29, 2017, 11:47:15 AM
 #19

I was led to believe segwit was the second coming of J Christ. Now you're telling me it's a dead solution??? Bitcoin truly is screwed. Oh, I've known it for a while; all you who lie about how "strong" btc fundamentals, F&CK OFF!!!

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January 29, 2017, 12:14:29 PM
 #20

"%any hours" and "Extraordinary fees"

Dude you're going ahead of yourself xD
You got nearly instant transactions with 0.0002 fees right now. That's 20 cents for a transaction you can't talk about "extraordinary fees!

And btc has always been for big moves. It's the only mean I know where you can send money and pay a flat fee. Sure if you want to send 1$ PayPal is better, but if you want to move 10k$ there is NOTHING that can beat btc.


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