agustina2
Legendary
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Activity: 2436
Merit: 1008
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June 14, 2017, 11:33:16 AM |
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So to my understanding, bitcoin has two big problems and one actually corresponds to other. That is increasing high fees or else late transactions.
So the question is, can bitcoin solve these issues? I mean with increasing value of bitcoin, won't fees always keep on increasing? Is there a solution to that?
And I think that solution will also solve the timing of transactions problem.
What do you say?
The concern is not new. Even when bitcoin price is still on $300, the block size issue are being here. Just think that while the bitcoin price is increasing, that is our reward. It's worst if the price is not increasing and the transaction fees are increasing. If that have a solution? Yes it has. The questioned is, how it will implement and when? Stay tuned. |
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Faiyz
Sr. Member
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Activity: 392
Merit: 250
Dijual
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June 14, 2017, 11:36:24 AM |
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So to my understanding, bitcoin has two big problems and one actually corresponds to other. That is increasing high fees or else late transactions.
So the question is, can bitcoin solve these issues? I mean with increasing value of bitcoin, won't fees always keep on increasing? Is there a solution to that?
And I think that solution will also solve the timing of transactions problem.
What do you say?
There is definitely some kind of solution out there and I just hope that someone can find it and finally solve this problem with transaction fees that we have had for such a long time. It may happen soon or it may never happen. We just have to wait and see. That probably is being taken care of by the blockchain team. And probably those are just maintainance for what they have lost or they are just planning somethinv far more greater to improve transactions of btc before many more countries wouod adopt btc. Honestly i think there a lot of issues including the high fee can be solved within this year. |
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hurain
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June 14, 2017, 11:51:18 AM |
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Bitcoin definitely is going to be improved..if you think that as a currency then Bitcoin is a child, it has many lacking or availability, but day by day it is creating its platform and gained its credibility. So that is not so far when Bitcoin will be flow less. In my point of view that, bitcoin is in a right track to be improved...
yes bitcoin must be improve, there are some important issues that must be solve on priority basis. i think the main issue that bitcoin is facing is the transaction conformation time. and secondly the increasing transaction fee is also a problem now. |
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Siren
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June 14, 2017, 01:02:26 PM |
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Bitcoin definitely is going to be improved..if you think that as a currency then Bitcoin is a child, it has many lacking or availability, but day by day it is creating its platform and gained its credibility. So that is not so far when Bitcoin will be flow less. In my point of view that, bitcoin is in a right track to be improved...
yes bitcoin must be improve, there are some important issues that must be solve on priority basis. i think the main issue that bitcoin is facing is the transaction conformation time. and secondly the increasing transaction fee is also a problem now. I think from 2 years ago, this issue has been talked about many times, debated by so many intelligent person here. But up to know no consensus has been put forth and the civil war is still ongoing. I think the high transaction fee is the only roadblock that I can see really. I really hope that it will resolved so that we can really see the price really going further. |
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smauni
Copper Member
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Activity: 484
Merit: 110
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June 14, 2017, 01:05:11 PM |
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I think Bitcoin can improve in it's fees. The transaction fees is too damn high.
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crazycatwoman03
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June 14, 2017, 05:17:27 PM |
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So to my understanding, bitcoin has two big problems and one actually corresponds to other. That is increasing high fees or else late transactions.
So the question is, can bitcoin solve these issues? I mean with increasing value of bitcoin, won't fees always keep on increasing? Is there a solution to that?
And I think that solution will also solve the timing of transactions problem.
What do you say?
Transaction fees and slow transactions have been a problem for all of us. We all know that in withdrawing bitcoin, there are these high fees that we have to pay for the transaction. Also that the transaction process usually takes 2-3 days for us to be able to withdraw bitcoin. Having an own ATM machine could somehow decrease the chance of paying transaction fees. If bitcoin will have its own withdrawal card (unlike now where we use Paypal cards to withdraw) there is a possibility that the fee will be lower. |
INVALID BBCODE: close of unopened tag in table (1)
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mk4
Legendary
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Activity: 2744
Merit: 3830
Paldo.io 🤖
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June 14, 2017, 05:25:33 PM |
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So to my understanding, bitcoin has two big problems and one actually corresponds to other. That is increasing high fees or else late transactions.
So the question is, can bitcoin solve these issues? I mean with increasing value of bitcoin, won't fees always keep on increasing? Is there a solution to that?
And I think that solution will also solve the timing of transactions problem.
What do you say?
Of course those issues can be fixed. The question is only how? or will it? These issues could have been solved months ago if there wasn't a sort of 'political' issue in bitcoin. To be specific, Roger and Jihan's Bitcoin Unlimited vs Bitcoin Core's SegWit. And yes, if things stay the same as it is now, the fees will definitely just increase and increase and more transactions will be stuck in the blockchain. What would the solution be? There's multiple solutions. What would the RIGHT solution be? That's for you to decide.  |
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yogaantoni
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June 14, 2017, 06:24:18 PM |
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A technology must be good and bad, bitcoin goodness can benefit the user, but on the downside with the current problem is the slow cost and transaction makes bitcoin users uncomfortable, but all problems will have a good solution.
And hopefully this problem will soon get a good solution.
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megynacuna
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June 15, 2017, 06:34:42 AM |
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I think Bitcoin can improve in it's fees. The transaction fees is too damn high.
Of course as plans are in place to increase the block size I'm optimistic they will improve the confirmation times and lower the transaction fees that will encourage the daily usage of Bitcoin. |
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Doms
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June 15, 2017, 06:47:28 AM |
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There’s a pretty interesting article I read that compares the key players of bitcoin to the government. We have the developers (legislative), the miners (executive), and us the users (judiciary). In order for bitcoin to further go into development, these three branches must reach an agreement that would be beneficial for everyone. Now, the problem is there are in-fighting even among the developers, and the miners have their own issues as well. These problems, which if ignored longer, could mean more trouble for bitcoin’s status as the top crypto currency.
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bitllionaire
Legendary
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Activity: 1120
Merit: 1000
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June 15, 2017, 11:18:43 AM |
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A technology must be good and bad, bitcoin goodness can benefit the user, but on the downside with the current problem is the slow cost and transaction makes bitcoin users uncomfortable, but all problems will have a good solution.
And hopefully this problem will soon get a good solution.
actually the crowd of bitcoin is increasing day by day, many people are even putting their 100% assets in bitcoin and which is really creating trafficking problems, i think the transaction conformation timing and the transaction fee problem must be solve on priority bases. |
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