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Author Topic: Why is bitcoin becoming so god damn slow?  (Read 5216 times)
mrcash02
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May 19, 2017, 12:28:39 AM
 #81

Because the number of transactions are growing day after day. But on the other hand, BTC block size is still at 1mb and there is no technology like SegWit implemented. We need to do something about that to keep btc alive.
segwit is not the best thing we can do right now. With segwit the block size would be raised only by 1 more mb, while for example bitcoin unlimited could do it to 8 mb and all the transactions could be processed with having really low fees, in this way even more people would start using bitcoins and more people would be investing in it as right now it is pretty much not usable at all. Just look at it it's ridiculous how you have to pay like a dollar to transfer a dollar. I know a lot of people are against bu but to be honest there is nothing to be against about it, we could do bu and then after some time and adoption implement segwit as well. It looks like it's more about politics not about the users.

What I have seen is that BU has many bugs which can compromise Bitcoin reputation and it will give more power to miners (that are already ruling the Blockchain as they wish). Don't you think BU is dangerous for Bitcoin future?

And how they are trying to implement BU seems a bit forced, no? (HardFork).

 
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May 19, 2017, 01:08:37 AM
 #82

It is the victim of its own success. That and the devs have their heads in their collective rectums.

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kuyaJ
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May 19, 2017, 04:29:38 AM
 #83

Obviously the bitcoin is becoming so slow in having a transaction that almost that a 3days just having a really small transaction in the blockchain it is really because of the rapidly increasing bitcoin users in the globe so i guess they really need more miners and some sort of upgrade in the blockchain and we need another currency to use.
Well there is no better cryptocurremcy to use than Bitcoin really. Let us just wait and see what improvements they will do but I hope that they would do it sooner so that Bitcoin would come back as what it is used to be. It is true now that major countries have acepted Bitcoin like now and then thus results to the increasing number of users and the transactions of course. Miners really do benefit a lot with the increasing transaction fees of many to make it faster to be recieved.
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May 19, 2017, 04:39:44 AM
 #84

Certainly is an issue. It's because miners choose payments with high transaction fees over ones with low transaction fees... fair enough I guess, annoying none-the-less. For now,  i'd recommend only using BTC for payments that are at least 100 usd or over as micro-payments are a real pain in the ass.
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