What's the opinion on Bitcoin transaction fees here? I'd say Bitcoin is broken if any UTXO under 0.001 BTC isn't even enough to pay for it's own transaction fee.
My opinion is that Ordinals were just a useless addition to Bitcoin. Maybe the chain should be split in a Core and an Ordinals variant, maybe with higher blocksize limit on the latter, to satisfy those blockwar-morons? IDK, but i wish inclusion of Ordinals would be rolled back ASAP. Who needs another sea of NFT's anyway?
I wish developers and individuals voting for BIPs would take a more cautious approach to add bitcoin functionality. It's not that hard. Just try to keep an eye on possible unwanted effects and outcomes of software "solutions" to problems or added functionality and address them before actually changing any code.
This type of thinking was the reason why i was hated by most collegues and even some of my bosses ("destroying" their "great" visions through factual criticism), and successful at the same time (through my own contributions and working alternatives to their "great" solutions) when i was working in the IT industry, back then.
Maybe Ordinals were orginally intended to break Bitcoin, who knows? I don't have enough background information on this branch/feature, so this is pure hollywood scriptbook thinking of mine. But, with an eye on NFTs and the presence of Bitcoin's slow transaction rate and limited block size, it would result in a nice attack vector to include the possibility to spam blocks, tainted as functionality.
Anyway, i was unhappy with the Ordinals idea as soon as i read about it the first time. This block spam confirmed my worries.
EDIT: And the whole drama with fees does have a touch of Ethereum to it, in regard to your original question, dunnit?
I doubt rolling back is feasible, and I am surely not going to jump to the conclusion that bitcoin is broken.. not yet anyhow. Let's see how long those creating the higher fees can keep it up.... I have my doubts.
Price to follow
Bitcoin price does not follow hashrate.
#justsaying It is the opposite, including that miners increase their hashrate out of anticipation that the BTC price is going to continue to go up... which it likely will for another 12-18 months from here... give or take. Sorry to say, but you likely don't know (understand) bitcoin very well if you believe that price follows hash.
Not claiming that any of us (including yours truly) understands bitcoin, but surely price does not follow hashrate.. that is just ridiculous, even though I hear that kind of nonsense quite frequently, including from others than merely you and Philipma.
This is my first post at WO, after my first halving, Thank God for life
Now for the big question
When is the dip coming
**My colleague and I were really excited that we're going to buy the dip but now what we see sadden us while the sudden rise in fee is discouraging though it's getting better probably before the end of the day it will be normal
**I brought your seemingly retarded BIG down to a more reasonable and readable size.You sound retarded to have had been waiting for a dip that might not happen, including maybe learning a lesson that it is better to be buying dee cornz regularly and constantly, especially if you are fairly new to bitcoin and/or you already have assessed that you don't have enough bitcoin.
According to your forum registration date, you already have nearly a year and a half in bitcoin, but yeah, you probably made the mistake of not buying aggressively, so you ONLY recently realized that you should have had been buying that whole time, and so now you are trying to be smart about it.. which also probably is not even the right thing to be doing for either no coiners and/or low coiners, and unless you front loaded your investment into BTC in the last year and a half, you are probably at minimum a low coiner.. which means you probably should be buying for the next 4 years and not be fucking around with figuring out if there might be a dip.. especially in these kinds of prices... now if we get up to $200k by this year or maybe $400k by next year, then maybe I will give you a bit of a break, even though probably as a newbie you should just be buying regularly and stop fucking around trying to act like you know which way the price is going to go, when you surely don't seem to have a clue, especially from the contents of your post.
So yeah, it is dumb to presume down and/or to prepare for ONLY 1 price direction, especially when there has already been 20% down from the ATH, so why would expect that MOAR down has to come..
yeah, sure more down might come, but it is not even close to having high chances of happening... and then tell us, how far are you hoping for? rather than just buying regularly?
I thought the fees would have come down a bit more by now but let's see how economical it is for these spammers to keep it up. Everytime this has happened before fees have come back down to reasonable levels, I don't think it will be different this time.
What I do know though is that I will not be transacting on the network while this keeps up.
fees will stay high from now on.
btw if a fee is 20 cents for a 3 dollar spend I would say that's too high
the bit coin maxers will be forced into scrypt for small sends.
You are not very good at these kinds of predictions.
Yes, there is an attempt to make it appear like there is an emergency, which costs a lot of money to keep that appearance. Good luck. Most likely there is not going to be any forced script or emergency measures.
Poll
