Why Bitcoins is now same as paypal(and worst)

[Xester]

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.

Speaking of one dollar that is very true and I experienced that when I tried to transfer my bitcoins from one exchanger to my wallet address. But a ten dollar miner fee is too much, it is already an exaggeration of the mining fees that are currently existing right now. The rate is just at 1$ with the highest of 2$ per transactions. But even though the highest is 2 dollars that is big enough and is a pain in our pocket.

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[Pattart]

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.

I think it's a problem paypal transaction speed and bitcoin is arguably faster than bank wire. there is an option if you're using a large fee of course the speed of transactions will increase

[~Bitcoin~]

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

Paypal is known for the highest transaction fee but i am quite surprised that you have never paid fees in paypal  

Personally i don't think bitcoin current fees should be compared with paypal fees, using paypal include lots of risk of chargebacks and account lockdown. And talking about fees yes if you are only trying to move less than 1$ in one transaction you have to pay a lot in fees but bitcoin fee structure is not designed on % basis so it will be almost same for transaction with both 1$ and 1000$ (if the transaction size remain same).

[bitjoin]

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

Paypal is known for the highest transaction fee but i am quite surprised that you have never paid fees in paypal  

Personally i don't think bitcoin current fees should be compared with paypal fees, using paypal include lots of risk of chargebacks and account lockdown. And talking about fees yes if you are only trying to move less than 1$ in one transaction you have to pay a lot in fees but bitcoin fee structure is not designed on % basis so it will be almost same for transaction with both 1$ and 1000$ (if the transaction size remain same).

If you never sell anything you dont pay fees right.  It depends on what country you are from and what type of account you have.  Bitcoin does not change anywhere.

[NEWGOODOUBLE]

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

Paypal is known for the highest transaction fee but i am quite surprised that you have never paid fees in paypal  

Personally i don't think bitcoin current fees should be compared with paypal fees, using paypal include lots of risk of chargebacks and account lockdown. And talking about fees yes if you are only trying to move less than 1$ in one transaction you have to pay a lot in fees but bitcoin fee structure is not designed on % basis so it will be almost same for transaction with both 1$ and 1000$ (if the transaction size remain same).

If you never sell anything you dont pay fees right.  It depends on what country you are from and what type of account you have.  Bitcoin does not change anywhere.

I've used paypal and do not ever get a transaction fee but there are 2 options to send money as a gift or payment
I forgot to pick which one but I ever send money for free using paypal

[The_prodigy]

Bitcoin now needs fee to maintain the web wallets if you are using blockchain ofcourse it will take some fee i will never considered bitcoin as same with paypal they had difference first is paypal is company where you can dispute or report any malicious activity that you didn't do but in bitcoin once you send you can't get back what you've already sent.

[Evansloin]

It is not even close to the same as Paypal. If you want to make big transfer with Paypal you have to pay high fees and have chance that you can't even make it.
The same thing that Bitcoin and Paypal have the same are the fees and even that differs if we look at the prices.

[Qunenin]

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.

Hey OP, how did you say that bitcoin is worst? is it because of the fee they charge?? I guess you do not know what really business is,
and so why you compare paypal with this?? Elaborate it..

[20kevin20]

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.

Hey OP, how did you say that bitcoin is worst? is it because of the fee they charge?? I guess you do not know what really business is,
and so why you compare paypal with this?? Elaborate it..

It's not even comparable to PayPal. Bitcoin might need higher fees for faster confirms but that doesn't make it mandatory.. You can change it the way you like, and by the needs you've got. PayPal is bad in many ways: not anonymous, there are refunds so therefore there are scammers, the fees are pretty high and you cannot change them and so on. Bitcoin is exactly the opposite of this. I feel safer with it rather than using my credit card that's linked to an online account. Oh, and not to mention the security and safety Bitcoin can offer.

[franky1]

I like segwit but I don’t think it is going to be approved,

forget the erroneous fake and fud filled rhetoric of economic's making miners indecisive..

u say you like segwit.
do you even know segwit.

i hope you have atleast read some code, run some scenarios. and seen the issues and come to a fair judgement.
rather than just appearing to be a reddit script copy and paster.

here is a hint:
malicious sigop spammers and maleability spenders will still exist if segwit activated.. and will exist if segwit was changed to be activated in any other way, including via a node vote.
hint: native key utility will still function thus problems still occur. only those volunteering to move their funds to segwit keys are disarming themselves from being the cause. but doing nothing to stop actual bad actors doing it.

in short.
segwit wont solve the problems it promises and actually opens up new problems

[franky1]

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.

the "big block" folks see this
bitcoin onchain, natural progressive growth over decades where the NODES set the upper limit of what they are capable of and a lower limit of preference. pools work below those limits via consensus and as technology moves on making nodes mode capable. the network progresses naturally. WITHOUT dev spoon feeding or users needing to kneel down to devs as kings.
meanwhile LN works as a side VOLUNTARY service.

the blocker-streamers see this
corporate control of code and limiting onchain growth to enforce LN end goal. so that nodes can pray for getting some income from relaying LN hop tx's. while then starting a sybil node pool concept to increase their income and start costing users more per hop. causing users to then rely on hubs instead of hop approach to reduce costs by reducing relays needed. leading to commercial centralisation of the counterparty of the LN contracts acting as hubs.

[darkangel11]

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

I have never paid 0.01 fee and my transactions have always confirmed without problems.
According to https://bitcoinfees.21.co/ you need a fee of 0.00049BTC for the transaction to confirm in the first block, but if you pay less, like 0.0004, it still should confirm within 2-3 hours, which is fine for most people and faster than a bank transfer.

[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.

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 

Better get used to it because someone and some groups out there are loving the situation. The situation will worsen and the fees will only get higher and higher in the coming years.

[BeGoods]

It is not even close to the same as Paypal. If you want to make big transfer with Paypal you have to pay high fees and have chance that you can't even make it.
The same thing that Bitcoin and Paypal have the same are the fees and even that differs if we look at the prices.

different from the bitcoin however much you send bitcoin. fee will remain the same and are very cheap
paypal use a certain percentage of the amount that you send so the bigger the money you sent then you have to pay more

[Reid]

Yes it took me 3 days to get my 3 million satoshis because I paid lesser.
This is really not going well. They are requiring bitcoin users to pay more for a better service.
I hope this just happens for now because of too much transactions that are pending.
Question is will it be fixed like it was before.

[target]

Yes it took me 3 days to get my 3 million satoshis because I paid lesser.
This is really not going well. They are requiring bitcoin users to pay more for a better service.
I hope this just happens for now because of too much transactions that are pending.
Question is will it be fixed like it was before.

I'm beginning to think its normal if your wallet doesn't give you the option to send btc with higher transaction fee. But wait awhile, it will still be processed eventually, it just take time.  The slow transaction confirmation and higher fees still aren't reasons why is could be compared to paypal, paypal is nowhere near btc if you look at how it can scam its users. I would consider moving to another coin though if it gets worse later. ETH seem to be a better option for everyone.

[BigBoom3599]

Yes it took me 3 days to get my 3 million satoshis because I paid lesser.
This is really not going well. They are requiring bitcoin users to pay more for a better service.
I hope this just happens for now because of too much transactions that are pending.
Question is will it be fixed like it was before.

I'm beginning to think its normal if your wallet doesn't give you the option to send btc with higher transaction fee. But wait awhile, it will still be processed eventually, it just take time.  The slow transaction confirmation and higher fees still aren't reasons why is could be compared to paypal, paypal is nowhere near btc if you look at how it can scam its users. I would consider moving to another coin though if it gets worse later. ETH seem to be a better option for everyone.

Wouldn't BTC be worse for scamming than paypal? If you get scammed with BTC there's no way to get your money back. If you get scammed with paypal you could contact paypal and ask for a chargeback.

[fullypak]

Yes it took me 3 days to get my 3 million satoshis because I paid lesser.
This is really not going well. They are requiring bitcoin users to pay more for a better service.
I hope this just happens for now because of too much transactions that are pending.
Question is will it be fixed like it was before.

I'm beginning to think its normal if your wallet doesn't give you the option to send btc with higher transaction fee. But wait awhile, it will still be processed eventually, it just take time.  The slow transaction confirmation and higher fees still aren't reasons why is could be compared to paypal, paypal is nowhere near btc if you look at how it can scam its users. I would consider moving to another coin though if it gets worse later. ETH seem to be a better option for everyone.

Wouldn't BTC be worse for scamming than paypal? If you get scammed with BTC there's no way to get your money back. If you get scammed with paypal you could contact paypal and ask for a chargeback.

This is the only purpose we prefer PayPal, they have customer support, and they will take sometimes solve our issues, but it will be solved, In Bitcoin, we don't have this options if anyone scammed you that's it that amount will never get back to you. But to compare transaction speed and transaction fees wise The Bitcoin is good less fee and fast transaction. Both have some problems so choosing Bitcoin or PayPal is left to you.

[Rinder]

Bitcoin its just a payment processor nothing else, you able to send fast trasactions with a huge fee. Bitcoin is a currencie with huge potencial to grow over time, a payment processor, and well we all knew that in the future fees should replace the mined coins, since bitcoin is limited. If you not happy with the btc fees you can use others altcoins that are faster and cheaper like doge.

[shinratensei_]

Yes it took me 3 days to get my 3 million satoshis because I paid lesser.
This is really not going well. They are requiring bitcoin users to pay more for a better service.
I hope this just happens for now because of too much transactions that are pending.
Question is will it be fixed like it was before.

I'm beginning to think its normal if your wallet doesn't give you the option to send btc with higher transaction fee. But wait awhile, it will still be processed eventually, it just take time.  The slow transaction confirmation and higher fees still aren't reasons why is could be compared to paypal, paypal is nowhere near btc if you look at how it can scam its users. I would consider moving to another coin though if it gets worse later. ETH seem to be a better option for everyone.

Wouldn't BTC be worse for scamming than paypal? If you get scammed with BTC there's no way to get your money back. If you get scammed with paypal you could contact paypal and ask for a chargeback.

And if i was buying something and i need my money back, and i just need to ask for a chargeback. Chargeback feature is really terrible to buy digital goods.