Bitcoin is working fine! No change needed!

[AGD]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

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[Mandoy]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

If we do not accept new developments in bitcoin then we will still be suffering from transaction logs. If you remember last month there is a 200k plus pending transactions on the mempool, this implies that the current hashpower cannot comply to the demands on bitcoin. Thus it is necessary to increase the blocksize so we can make the transactions much more faster and with lower fees. If we do not accept new developments in bitcoin then companies will not trust bitcoin since it is unstable due to problematic network cause by blockchain overload. We need to increase the blocksize to bring back bitcoin into the mainstream and to attract big companies to adopt and join.

[Humanxlemming]

Well I think that we need to accept the new system. I know that bitcoin's progress is way beyond our expectations. But the transferring of money is one of our problem. It requires a lot of time for us to process our money. We just need to agree to the new system because it is for our own good also, but what the bitcoin price is what we really are afraid about. It is possible that bitcoin will drop to $500.

[KourtneyK]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

I agree, I think bitcoin will work its way up all it really need is time. If in case it will drop down when SegWit comes, we traders should embrace the new system because that is only for the better of bitcoin and for us too.

[wmhacker]

I agree completely, Even though sometimes there are piles of unconfirmed transactions but these all get confirmed within days, I don't see a big need for something changing the fundamentals of bitcoin right now, Although miners are pushing for it but I don't think it's needed. it's better not to try fixing that already works.

[Kakmakr]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

That might be true, if the spam attackers could be stopped. In these last few days, we have seen the MemPool as it would have been without these spam attacks and everything worked fine. A small bump in the Block size would have been sufficient for now, until developers could figure out what to do with attack vectors, if the Block sizes grows too big. This whole battle between the different groups would have been stopped, with a small upgrade of the Block size. < The attacks would have been more expensive and the users would have been satisfied with confirmation times on the Blockchain. >  

[squatz1]

We're going to have to fix Bitcoin, this is something that's going to have to occur in order for people to get involved. At the current moment we're facing an insane amount of issues when it comes to fees (oh these are the fucking worst) next is going to be network congestion (which is somewhat clearing up, though it'd be nice to look for clearing this up for the future on this one) and an overall centralization of the miners when it comes to the issue of fixing bitcoin. Without the miners, we're all going to be fucked on working out a deal-- I hope everyone can put their bullshit aside and set something up finally to be able to fix this struggling community in a time where it would be so ripe for growth and prosperity.

[danjonbit]

Wayback years ago when I started Bitcoin, I see that it has a good future, (I can earn 10k satoshi in one farming then just sayin) but I stopped, but hey Im back again knowing that Bitcoin will become a bigtime .

[lizardbtc]

This needs to be fixed if we want more people to use the bitcoin daily, yes I agree maybe at this moment network can handle all the transactions but still why will somebody need to wait days when he can wait few hours or even minutes for his transaction to get confirmed. Let's be honest here, I totally agree with some posts above we need something new, bitcoin needs to develop so that it can be used and if you and me and others want to use it as a currency for a day to day payments.

Don't be afraid of change, it will happen and I am positive that it will just boost the performance of it which will allow us even to buy a coffee with it with low fees!

[masterchief001]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

I think so, I still believe in bitcoin core, even though it receives a lot of complaints from everyone. Bitcoin core is still doing the job well, but what i worry about is its future.

[LoyceV]

Give this baby time to grow, folks.

Bitcoin can't grow without more users, and it can't handle more users without more transactions.
Don't you think it's too much of a coincidence that just weeks before August 1, suddenly the transaction backlog is empty and fees are low again? It seems like power plays to me.

[hv_]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

I understand this  - you're mostly right (SW part esp.).  

But in a world of competition and crypto-boom you cannot just 'stay' - you need upgrades, minimum levels are keep track with security. E.g. hacker's don't sleep!

But think bigger: How would you attract the world to accept bitcoin ?  With those fees and limited  txs space < 1MB?  - No way!

If you cannot attract the world in this run you see - byebye - others take over (LTC?) .


BTW: What do you estimate, how much of the BTC price is a future spread? How much money is paid because of the prospect to be worlds best asset ever?

Sure nobody can tell you exact, but I say it's huge. Who should pay this future premium if no prospect of growth exists? - > plummmmm

[NeuroticFish]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

The spam attacks can come back at virtually any time. Bitcoin has to be ready. So at least for that part a fix/mitigation is needed.
This will also show that Bitcoin can evolve, which becomes something that needs to be proven.

While I agree that devs need time to think it right, they did have quite some time to think and find the best solution. I still have faith in them, but some amount of pressure is always needed.


PS. I am really glad to see the current size of the mempool. The happy days are back.

[btcwonder1]

I agree with every word you have said. Bitcoin needs no segwit or any crap that could potentially bring it down. It's great the way it is and I don't really understand what's causing this turmoil around Bitcoin.

[The One]

Bitcoin has proven, that it is works fine, even through times of different attack modes (FUD, spam, patenting, +, XT, RV, CW etc). I don't think we have a pressure to raise the blocksize or to force the mass adaption. We don't need no SegWit to make Bitcoin great again, because it is already. Give this baby time to grow, folks.

You may be happy with "fine", but the blocksize limit of 1mb isn't fine.

I want Bitcoin to be "great", "fantastic", "brilliant", - "fine" is lowest common denominator acceptance.

Oh i do agree that we do not need segwit at all. Absolutely useless pile of extra codings for what? To potentially increase the blocksize.

Guess what, i had a nightmare this morning about segwit. It woke me up. The nightmare was about a car manufacturer wanting to make a faster car. A standard car of 1.0L engine is to have a 4.0L engine.

A wise engineer said, "No problem boss, 4.0L is it. A test car will be ready in a week."
Boss replied, "Great."
An idiot engineer trying to impress the boss said, "But boss, instead of building a 4.0L engine, can i suggest 4 * 1.0L engines. The front will have 1 * 1.0L engine the the boot will be enlarged to fit in 3 * 1.0L engine."
Boss looked very puzzled asked, "Why?"
The idiot engineer replied, "Well the buyer can choose whether to drive a normal standard car using only the front engine and another buyer can choose to drive faster using all engines."
Boss looked even more confused replied, "So, a buyer using 1 engine has top pay the extra costs of 3 extra engines and an enlarged boot for nothing?"
The idiot engineer replied, "Well boss, increasing the block size of a 1.0L engine is stupid. It will require the bonnet to be a little be longer to fit in a 4.0L engine."
Boss, even more confused asked, "How long will it take to get a test car ready?"
The idiot engineer replied, "Oh well, erm, perhaps 6 months to 2 years."

The visual nightmare woke me up.

[joseafonso123az]

I guess everything related to technology has always to be updated for the better use of it ! Sometimes the updates are better, sometimes they are not, but they are necessary to close breaches that exist, or to correct things that are slow.  As this is cryptocurrency, it is necessary to close the breaches, make it fast, so it is wise to accept some changes, as long as it doesnt cost us, bitcoin "client" any massive lost.

[HarleyQuinn9876]

I admit bitcoin is working pretty well, it is expanding worldwide. But trading activities are more risky, there is no certainty in the transaction. When it is necessary to trade a large amount of bitcoin through intermediaries, it takes time. So we need to change something in bitcoin operation

[KennyR]

Give this baby time to grow, folks.

Bitcoin can't grow without more users, and it can't handle more users without more transactions.
Don't you think it's too much of a coincidence that just weeks before August 1, suddenly the transaction backlog is empty and fees are low again? It seems like power plays to me.

As majority of the users stated I too believe that blocksize increase is a must, but right now everything is quite good and nothing seems to be an issue. Even if some issues arise, within a short time span it is getting solved. All we need is time, because we're just 8-9 years from the day of bitcoin into the world. It needs time to show it's growth. Even before that no need to penetrate into it.

[Adbitco]

If the bitcoin works fine without any changes then it's ok but as we all know that bitcoin does really need a few changes to be made to facilitate faster transactions with lower fee hence changes should be welcomed. The only thing which is needed is the consensus. There should be consensus among the miners and everyone else in the bitcoin ecosystem should support the devs and miners. After all all these changes are and should be aimed at making bitcoin a much better digital currency than it is now.

[DoublerHunter]

Bitcoin is getting tested of the beta version of the segwit2x code and that makes the bitcoin to go back in normal but we are in just a beta version and we can expect more if the segwit2x will get implemented very well because the team is just testing and for sure there are some bugs but after august 1, bitcoin will become the best cryptocurrency again and it will make the price go up very high.