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Author Topic: Bitcoin's elite behaves just like the old banking elite  (Read 1290 times)
AjithBtc
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May 12, 2017, 05:15:23 AM
 #21

In my view transaction usage is not the one much concerned. It has got lot many usage than the cryptocurrencies that have been existing often. There are several altcoins that provide transaction free without any fee. So if those coins were used for transaction the conversion through exchanges will cost them. Even when bitcoin is not used as a transaction token people will use it as an investment and for several other needs. Only few users might switch to altcoins mentioning transaction fee as an issue.

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May 12, 2017, 05:26:11 AM
 #22

the idea behidn which bitcoin can act as a store of value is not idiotic or without sense like you think, bitcoin can act better thn altcoin, bitcoin can be used liek a currency and japan is already doing so

you can't do the same with any altcoin, their value is meaningless they are just pump and dump for now

anyway solution are coming, the problem is only one the consensus, and again miners have no fault here, i'm repeating this because apparently not many are awere about it, it's the users that determine the fee not the miners
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May 12, 2017, 05:29:01 AM
 #23

Blocksize is limited because when the block is increase it may result to a network attack please research this topic before creating shit post.
Paying higher fees for faster transactions is an option you dont have to actually pay it, the bitcoin network is fine though you can send and receive bitcoins in just minutes or hours.
If you're already into altcoin, so why are u here?
Im sure you will regret that decision when bitcoin reaches $500000 in 2030.

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Checlets
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May 12, 2017, 05:34:58 AM
 #24

1)Do you think the average user cares about centralization ? Does the average Apple user care he's in a golden prison ? 2)Bitcoin has value only if it's useful in making transactions, that's it. If Bitcoin loses that ability, it will fall like a house of cards. A few individuals might care that there is no central government taxing or freezing their hoard, but they are irrelevant in the grand scheme, they will be left with poker chips which they can trade in a select club of ex-millionaires.

The window of opportunity to fix this clusterfuck is closing fast. The fees are rising exponentially and already make up a non-negligible part of the miner revenue. This means miners will compete for it and plan their capital investments accordingly, and are forced by the market to compete. Because capital costs are the dominant expense in mining, we are are quickly shifting from situation where fees are a nice windfall for miners, to a situation where fees are already priced in the existing mining hardware. When fees will make up half of the mining revenue and will be essential in recovering sunk costs, good luck convincing any miner that he should forgo that revenue and return to negligible fees that the network is more than capable of supporting.

3)Lead devs and pool owners need to lock themselves in a room and not get out until they have committed to fix the fees issue by any means necessary in at most 6 months. 4)Mark my words, we are on the deck of the Titanic and the band is playing.

1) yep... 2) bullshit... 3)maybe idk... 4) Titanic is at the bottom of the ocean so you are one of these the things... A scooba diver that has somehow managed to go 12,000 under sea level and is playing a waterproof mp3 player... A Person i would like to buy drugs from.... Or your just bat shit nuts.... And The first one only applies if the we meant you and your friends.... If not either gimme the drugs or go get professional help.

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MysticOne
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May 12, 2017, 07:07:40 AM
 #25

Do you think the average user cares about centralization ?



If people "don't care" about centralization maybe they should start caring so we can fix things and improve circumstances for the better?

   I think that one of the main problems is that there are a lot of people that don't realize the negative effects of centralization
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