Goodbye Bitcoin

[mindrust]

The main problem is, while the fees are rising as satoshi's; bitcoin's price in USD also rises. So it doubles the effect and the fees get x2 more expensive in time. Soon it won't make any sense to use bitcoin for small transactions because it will be so valuable. When people said "bitcoin is gold, xcoin (it was litecoin at that time, it is m-ethereum or dash right now i guess) is silver", they had a point.

[bettercrypto]

The main problem is, while the fees are rising as satoshi's; bitcoin's price in USD also rises. So it doubles the effect and the fees get x2 more expensive in time. Soon it won't make any sense to use bitcoin for small transactions because it will be so valuable. When people said "bitcoin is gold, xcoin (it was litecoin at that time, it is m-ethereum or dash right now i guess) is silver", they had a point.

Yeah but if you are dealing with bitcoin only, you wouldn't mind the conversion.  I am from the third world country and the fee of 50k satoshi is equivalent to  an half an hour of work for a regular employee.  I can feel the pain of OP but he should know better than the new comer here.  I understand maybe this is you exit price since you have been in Bitcoin for around 4 years.  But you know the door is always open if you decided to come back.

[DoublerHunter]

High fees is not a valid reason to leave bitcoin because it is one of needs of bitcoin especially the miners because if they didn't get enough fees then they can't create profits for a living and they will start to shut down their mining rigs. I believe that high fees are just temporary since the bitcoin is just on its young age but after a few developments, bitcoin will be strong enough and high fees will minimize.

[European Central Bank]

High fees is not a valid reason to leave bitcoin because it is one of needs of bitcoin especially the miners because if they didn't get enough fees then they can't create profits for a living and they will start to shut down their mining rigs. I believe that high fees are just temporary since the bitcoin is just on its young age but after a few developments, bitcoin will be strong enough and high fees will minimize.

fees have to keep on rising. the question is whether they're allowed to be paid by increased capacity so they stay reasonable for everyone. if they don't then it'll be bye bye from more people.

[franky1]

High fees is not a valid reason to leave bitcoin because it is one of needs of bitcoin especially the miners because if they didn't get enough fees then they can't create profits for a living and they will start to shut down their mining rigs. I believe that high fees are just temporary since the bitcoin is just on its young age but after a few developments, bitcoin will be strong enough and high fees will minimize.

fees have to keep on rising. the question is whether they're allowed to be paid by increased capacity so they stay reasonable for everyone. if they don't then it'll be bye bye from more people.

the fee war is NOT a problem for miners today. but is a problem for users
 its still a concept that will become a problem for miners in DECADES. not today
we should not be pushing the fee's up so high right now. pools dont need it.

infact pools dont actually care about fee's. to them its a BONUS not a required income.

we need to concentrate on ONCHAIN scaling so that NATURALLY over decades the tx count grows NATURALLY (not overnight, so dont throw the gigabytes by midnight rhetoric)

this also doesnt mean let corporate devs put a halt on natural onchain scaling and use false rhetoric of 'conservative' buzzwords as their word of the year to hold off on natural scaling to push their corporate commercial services.

[Giver]

Fuck this thread, he is hired by bankers and trying to ruin bitcoin reputation, look at his signature also.
Stop posting in this thread.

[shinratensei_]

@RealBitcoin: I agree with you that the current stalemate (Segwit/BU) will do (possible severe) harm to Bitcoin if it continues more than a few months. But I think you miss also some valid points.

Holliday has already mentioned a couple of points: It's not that easy to design a blockchain with cheap transactions, limited supply, decentralization and high security. And the altcoins you mention don't have the problem of the full blocks.

The average altcoin doesn't have a block problem, but the block size drama really sucks. Some of the parties trying to run the explicit consensus at the same time. With the different vision and argue. that's very bad.

[LittleBitFunny]

Isn't it interesting that people always create these threads when Bitcoin's price is really high.  The least convincing time to argue Bitcoin is dead is when it's worth >$1000.

[Xester]

Fuck this thread, he is hired by bankers and trying to ruin bitcoin reputation, look at his signature also.
Stop posting in this thread.

I dont think this thread was done because he was hired by bankers. This was one because he wants to express hi ideas on the current situation of bitcoin and his negative experiences. But even though you have experienced some issues in bitcoin it doesnt mean it is dead it is just normal since the price of bitcoin is increasing then it is also normal for the fees to increase. But soon when the consensus was already made by miners to increase the blocksize probably the mining fee will decrease.

[Sadlife]

Why so many disappointments in bitcoin currency just because people are experiencing bad things from it doesnt mean its dead when the price value of bitcoin at the same time is also increasing. Why just look at the bad stuff ?
I find bitcoin interesting because of it's decentralized feature and throughout the years it has evolve. For now, increasing the transaction fees when the value is high is a great solution because increasing the blocksize would put greater pressure to miners and nodes that would cause an greater difficulty in processing thousands of transactions due to the increase data size to process.

[_nur]

Before you go I suggest you check out tezos

It has the potential to be the last crypto with it's governance in the protocol

[NeedCash2k17]

I think bitcoin is going to have a very important role in the future, we maybe will see bitcoin as a big coin in the future...

[hisuka]

Bitcoin is not over. Its becoming grow and grow each day. People are into bitcoin, adoption, investing hard to earn money well. It has a great future because people are having mass adoptive into bitcoin.

[nyanhtet]

Agree with topic owner, transaction fees will high 10x from now and not for micropayment anymore. If you make transaction with 0.0001 BTC, it will take 2/3  business days. While other alt-coins take 10s like ETH, LSK. And it can crash in price everytime. Also too dangerous to hold.

[Risackwpsp]

calm down, you should believe that bitcoin will fix all of these problem at last.

[LoyceV]

Another idiot who cant see past the last upgrade....lol

You're missing the point here.

Hashrate:  UP
Diff: UP

This doesn't matter for Bitcoin users. Difficulty is self-regulating depending on the hashrate. Those two things go up or down together, so don't count both.

Marketprice: UP

This is good for the future of Bitcoin.

Marketcap: UP

This follows when the Marketprice is up, so you're double counting again.

Tradevolume: UP

I haven't checked this statement, but since China went from 90% to 30% of trade volume, I doubt it's up.

Blockusage: UP
Transactionperblock: UP

This is the problem! Transactions per block can't go up anymore, for quote a while now.

Unique-addresses: UP

Now you're adding just anything to say "UP". Almost every transaction uses a new unique address, this is like saying the number of blocks found goes up.

Blockchain wallet users:  way UP
Coinbase users: way UP

More users without more transactions means: Transactions per person DOWN


I can add a few for you:
Cost per transaction in Bitcoin: UP
Cost per transaction in dollar: UP even more
Total fees per block: UP
Unconfirmed transactions: UP
Posts made about unconfirmed transactions: UP

I don't really see why people try to downplay this. In my opinion it's a serious problem that limits further growth.

[NOP@SSWORD]

I think this statement is only applicable to you. We are still with bitcoin I see no reason for leaving it.

[chixka000]

Payment i gues is mondatory in order for bitcoin to continue operating. However on some point you were correct, Fees are getting ridiculious now day by day yet i think this would not still be the end(it is actually turning into i guess a better platform)

[danherbias07]

Give it a chance.
Look, you can feel how hurtful the 70k satoshis now because the value of bitcoin is also upwards. You wouldn't mind it before.
Okay, how about we take back bitcoin price to 300 dollars. Will that help?
First, stop converting bitcoin to money so you would not feel regret. Oh and I know you are converting for mentioning Paypal here.

[tomkat]

in Core v0.14 they announced removal of coin age meachanism (quote "Support for "priority" (coin age) transaction sorting for mining is considered deprecated in Core and will be removed in the next major version." - https://github.com/bitcoin/bitcoin/blob/0.14/doc/release-notes.md).
Does it mean that zero (or very low) fee transactions will never be included in any block...?