Why Bitcoins is now same as paypal(and worst)

[jonald_fyookball]

I've got a transaction and the miners fee is 0.0007BTC I don't know why it's already 12 hrs and not yet confirmed  
It's pissin' me off.

This kind of event is getting worst each day.   I have my tranasction still unconfirmed even if I setup a higher average fee i electrum which in the past days gets confirmed in a matter of less than 30 min.  I do not know if this is intentional from the miners to pick transaction above x satoshi transaction fee, I hope the solution for this will be implemented soon.  

its not intentional from the miners..its intentional from core/blockstream who has refused to raise the 1mb.

[passivebesiege]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Never get confirm are you crazy I also send btc lower than 0.01 but it's always confirm by the miners  If you worried about the mining fee then use online wallet like xapo or coinbase.

[shinratensei_]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

The bitcoin dev has played on a drama with the Chinese pool. But honestly yesterday I was sending a bitcoin amount worth as 0.01 and with 0.0007 fees (cent) and my transaction has delivered with fast. 

[Omega Weapon]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

I don't agree with you, transactions are processed normally, i is normal to give priority to the highest fee payers, otherwise they wouldn't pay, and miners are happy because they earn more from these high fee TXs.
You are considering the situation from USD point, Bitcoin's price is over 1200$ for now.
I always pay 50K Satoshi for all my TXs, if i am in a hurry or i have move a large amount, then i pay around 100k Satoshi, sometimes more, it depends on the size of the TX.

What i want to say is that it is useless to complain about the fee, you decide of your fee, if it is forgoten by the nodes, then rebroadcast it, if you are in hurry, ask ViaBTC to push your TX.

Consider the situation in a BTC point, and you will see that the actual fees are marginal.

Of course it's normal to give priority to those who pay the highest fees but that's just not the point.  The cost of transactions has risen to ridiculous levels - you can pay a few hundred thousand satoshi and (in my case) it has still taken days to confirm.  This is not okay for normal transactions.  People just don't pay $10 for something and expect nearly half of it to be taken away from them for it to actually work, and transaction accelerators will never make it okay because all they do is cram a few transactions into the next block - the block is still pretty damn small.

I will keep using Bitcoin because I believe that this is a temporary problem and that it can be solved, but I don't appreciate attempts to ignore the severity of the problem.  Bitcoin needs to be convenient if it's going to appeal to more people and spread as a currency.

I just hope that enough miners will implement SegWit soon because Bitcoin is on the verge of a whole new level and as soon as SegWit is approved we'll know that we're ready to make that step. 

I like segwit but I don’t think it is going to be approved, the miners are in it for the money not for bitcoin so it is very unlikely they are going to pass segwit since they feel it runs against their economic interests.

[jonald_fyookball]

I like segwit but I don’t think it is going to be approved, the miners are in it for the money not for bitcoin so it is very unlikely they are going to pass segwit since they feel it runs against their economic interests.

Miners realize the network must scale for Bitcoin to remain competitive.  Everybody and their dog knows that.

They just don't all agree segwit is the right way to do it.

[bravehearth0319]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Bitcoin and Paypal are same only in terms of online payment but not as online profit. Because Paypal was indicated as regulated industry while bitcoin is unregulated, and decentralized and Paypal was centralized. So they're not really same,

[JANGKRIK BOSS]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

The bitcoin dev has played on a drama with the Chinese pool. But honestly yesterday I was sending a bitcoin amount worth as 0.01 and with 0.0007 fees (cent) and my transaction has delivered with fast. 

that's what makes why bitcoin feared service real money like the banks. with delivery costs are very cheap of course not profitable for banks. I am sure the compelling reason, they rejected the bitcoin is eliminating the real money.

[Gameroid]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Bitcoin and Paypal are same only in terms of online payment but not as online profit. Because Paypal was indicated as regulated industry while bitcoin is unregulated, and decentralized and Paypal was centralized. So they're not really same,

i think there is a big difference between the two. paypal is not a currency it is just the medium for transaction of money from one place to another, while bitcoin is a currency which is use as fiat currency both in online and off line shops.

[TastyChillySauce00]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

The bitcoin dev has played on a drama with the Chinese pool. But honestly yesterday I was sending a bitcoin amount worth as 0.01 and with 0.0007 fees (cent) and my transaction has delivered with fast. 

that's what makes why bitcoin feared service real money like the banks. with delivery costs are very cheap of course not profitable for banks. I am sure the compelling reason, they rejected the bitcoin is eliminating the real money.

You're just posting without even knowing what he has posted don't you? , If the fee just hits 0.0007 it's ain't cheap anymore, see the average transaction back then, most of them are only use the fee around 0.00015 and just got confirmed easily without struggling and need to wait more than 3 hours.

[rajasumi3]

Bitcoin and paypal are two different things .you have to pay transaction fees for transfer , well in paypay it isnt . Bitcoin is annoynomous , paypal isnt .it is directly linked with your bank account .

[pedrog]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Dude, what does Paypal has to do with this?

I never spent a cent in transaction fees with Paypal...

Paypal has much to do with this. You may not pay paypal any fees but their currency conversion rates are beyond absurd. They are different kind of thieves.

Those increased fees on bitcoin is clearly a design flaw and will be the end of this bitcoin thing.

Paypal is not a charity, of course the charge for their services, and their currency conversion rates are pretty good, I actually made money converting EUR/USD in my Paypal account when conversion rate varied a lot a few years ago. 

[Ucy]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Dude you still haven't paid people for their labour. What shall it profit a man to gain the whole world and loses his soul

[blackhawkeye1912]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Like I always said in this forum, If there is a lot of uncomnfirmed transaction that is because most them did transact with low charge of fee, and as far as I know majority of who gave high fee transaction is the one get confirmed immediately.

[pinkflower]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

FUD. Bitcoin will never be like Paypal. Yes, good thing you cashed out your .15644 Bitcoins earlier. Bitcoin will be better without people like you in it. Good luck to you and the people who think like you and dont come back.

[BigBoom3599]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

Like I always said in this forum, If there is a lot of uncomnfirmed transaction that is because most them did transact with low charge of fee, and as far as I know majority of who gave high fee transaction is the one get confirmed immediately.

Currently on blockchain.info there are 47k unconfirmed transactions, with a total size of 58MB and total fees of 18.3BTC. That's an average of   0.00038270 BTC/0.45$ per tx, or an average of 31sats/byte. Not really that low IMO 

[warwar]

I think fees is one of the factor why bitcoin transactionis being confirmed or not but it is not the main reson why bitcoin transaction are being confirmed.I think the main reason why is bitcoin transactions is not being confirmed is the blocks.Too much flooded blocks may cause super delay transaction and it is not all based about the fees youre paying

[Taki]

I don't know how you can to compare PayPal and bitcoin. They are two different things. Only just internet payment program and other is currency. But if to talk about slowly transactions I also noticed that it became much slower than before. I can't say that it's annoy me a lot, cause banks transactions are providing during 3 days, so to wait some hours with bitcoin transactions is ok to me.

[TastyChillySauce00]

I don't know how you can to compare PayPal and bitcoin. They are two different things. Only just internet payment program and other is currency. But if to talk about slowly transactions I also noticed that it became much slower than before. I can't say that it's annoy me a lot, cause banks transactions are providing during 3 days, so to wait some hours with bitcoin transactions is ok to me.

We are now currently discussing whether which one of Paypal and bitcoin is better and it's really comparable if you see bitcoin from the perspective of someone who uses it in order to send money with the low fee and instant of course.
And even if that's right that bank transactions average time to be sent were 3 days, but it's out of context that we're now talking about Paypal which need about 5 minutes for a transaction.

[sportis]

we first need segwit, then blocksize increase later on, and LN. Anything else is a scam and doesn't work.

if you believe eventually we will increase the blocksize, why don't we simply just increase the blocksize?  Why do we necessarily need segwit?  Because Adam Back says so?

If bitcoin is going to compete with Visa and MasterCard, or even Paypal, boosting the blocksize is not going to do it. Going to a blocksize that gives 30 or even 300 TX/sec is still far too little. So we need to accept the reality of off-chain TX and figure out the best way to do those TX within the spirit and protocols of bitcoin.

Whether it is Segwit/LN, or merchants tying up with exchanges (I'm basically certain Purse is not doing an on-chain TX when I shift funds from my Coinbase account to my Purse account, for example), off-chain TX are going to be dominant going forward. The "big block" folks don't seem to be looking beyond the immediate fee crunch and are not offering a good roadmap, unless the map is for Bitcoin---> oblivion while other cryptos rise in its place.

You haven't given any reason why we need to accept 'reality of off-chain' at any certain TPS level...but lets say for the sake of argument that we accept that premise.

Even then -- you still haven't give any reason why we shouldn't increase blocks first.  Iow, lets increase the blocks now and worry about off chain stuff later.  That general roadmap has been offered plenty of times and there's no reason to believe its a bad one.

The way I see the things I have a different view. All of us we know that nowadays the average number of transactions in 1MB blocksize is approximately 3.3 tx/sec and not the maximum theoretical one of 7tx/sec. Therefore, an increase of the block about 2X or 4X or more bigger would we believe that would be an effective solution? So we have to admit that we use the bitcoin only if we will transact with big amounts of value and off-chain solutions or altcoins or anything else for some micropayments. All of these debates and the controversy about segwit or blocksize supporters create only problems to bitcoin holders and create arguments for anyone who has a hostile behavior in bitcoin.

[iram3130]

Well, we have now to send transactions with a fee $1-$10 otherwise the transaction will never get confirmed

Just telling you, don't waste your time posting a thread on tech problems section

Even now transactions with less than 0.01 BTC will never get confirmed(or it will take longer)

You delvs didn't trough this could happend if the bitcoins went up the market?


Yeah, but good thing that I cashed out my bitcoins earlier haha.

What are you telling? who told you transactions less than 0.01 BTC not getting confirmed. Have you send any bitcoins less than that before?I think you havent. Thats why you are saying that . I always send 0.00100000 BTC to my another address for faucet payments. I havent come across unconfirmed transactions. Yeah , nowadays transactions are taking a longer time to get confirmed. Thats all.

Totally agree and support. I also send less than 0.001BTC frequently and the delay is not that much. I agree that it's getting late compared to previous months but it's nothing like PayPal.
PayPal is only good if you are living and transacting in US o UK. For other world it's just sh*t.