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Author Topic: I don't get it?!  (Read 959 times)
Croin (OP)
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May 06, 2017, 02:38:44 PM
 #21

So as I see we might never really get a solution for it and most likely Segwit is never going to happen at all?!  Shocked
What will happen is some kind of "fixing with ducttape"
FlamingFingers
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May 06, 2017, 02:42:25 PM
 #22

In one sentence people are greedy!

That means they find it hilarious to pay a fee higher than 0.3$ for any amount they transfer!

They want to move millions with 20 -30 cents, they can't believe they missed the old days when you could do this and this is their problem.

I also think miners are people who need money, so paying a higher fee for me is not a problem.

at the moment there are around 62.000 unconfirmed transactions in memopool with a size of approximately 69.000.000 Bytes

and people get frustrated that they have to pay 80 cents instead of 20 or 30

also the problem is that in a block there can only be transactions up to 1MB and if a lot of people will use BTC the size of the transactions will also increase

also there was someone that explained how faucets work, they send you 0.0001 BTC and for you to spend that BTC you have to pay a fee of 0.0006BTC or even higher if you request payouts for small amounts.

and there are a lot of people how request payout for 1$ because in some parts of the world 1$ will get you food for one day!

so yeah ... going mainstream has it disadvantages also.
Where the fuck is that 20-30 cents being paid? The fees are going crazy nowadays that one would pay $1 as fees for a $1 transaction to be confirmed in a few minutes, 100% as fees is completely absurd and unacceptable.
Besides, I don't think Satoshi made Bitcoin to transfer 'millions' of dollars daily, but I am not sure if he wanted it for the day-to-day transactions either. All he wanted was to eliminate banks with their trust (middleman) system. Allowing businesses to be performed peer-to-peer without any outside intervention.

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Red-Apple
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May 06, 2017, 03:14:38 PM
 #23

In one sentence people are greedy!
are you trolling?! i am going to assume not so i'll answer.

Quote
That means they find it hilarious to pay a fee higher than 0.3$ for any amount they transfer!
They want to move millions with 20 -30 cents, they can't believe they missed the old days when you could do this and this is their problem.
maybe you are only using bitcoin to transfer millions but [newsflash] there are a lot of us who use bitcoin for a lot of other reasons, many of them small transactions.
and fees have not been 20-30 cents for a very long time. at the peak of spam attack fees are about $1 for a small transaction. so lets say i wanted to buy a VPN for a month and pay $4-$10 that $1 fee is not acceptable (read below why it is not)

Quote
I also think miners are people who need money, so paying a higher fee for me is not a problem.
we all know they are people but we also know very well that they are being paid $20,000 each block they mine. and this is why it is not acceptable.
fees are there for two reason:
1. compensate miners in far away future when block reward is small.
2. prevent someone from flooding the network with spam. and this one is hurting us.

people being mad is not just about them paying higher fee, it is about paying higher fee then have their transaction stuck, they paying higher fee and still being stuck, then raise it again next day and still get stuck.

people who have been using bitcoin for some time know this, but new members are always going to get stuck.

Quote
so yeah ... going mainstream has it disadvantages also.
we are a long way from going mainstream. and this has nothing to do with that. the adoption has grown and there are more transactions but not 100,000 unconfirmed ones. these are spam attack.

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Juggy777
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May 06, 2017, 03:44:38 PM
 #24

Hey guys,

could someone suggest me a good source to understand the upcoming problem with Bitcoin and everything related to it?
As I don't really understand what is coming?
Or simply sum it up in 2-3 sentences. Especially what about LTC and Segwit and so on, tried to :/ understand but didn't get it.

Thanks!

Greetings

Its a sabotage attempt honestly but so far it's all in thin air, so far nothing has happened and I don't think it will happen. What's worrying you and many other newbies is why is transactions getting stuck so you could just up the prices and it will sail through. As far other problems, I would not really read to much into it, the price is strong, the fundamentals looks strong, so I would just buy on dips and wait before something concrete happens so far nothing has happened.
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May 06, 2017, 09:07:57 PM
 #25

So as I see we might never really get a solution for it and most likely Segwit is never going to happen at all?!  Shocked
What will happen is some kind of "fixing with ducttape"
Yes, probably.  But some people's theories are more that Bitcoin will be a settlement layer because of the value given by its (near) immutability.  Altcoins can revolve around Bitcoin for trading and long-term funds can be stored in Bitcoin when people are using altcoins and it's safer that way, especially considering that ETH, for example, might change its supply system in the long term.

Therefore its value is likely to rise but it's at a crossroads right now for why that'll happen: being e-cash and an asset, or just an asset.

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