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Author Topic: Bitcoin Segwit vs alts.Transaction speed. Your choice?  (Read 221 times)
dennyd999
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September 21, 2017, 04:25:28 AM
Last edit: September 21, 2017, 04:58:09 AM by dennyd999
 #1

Allrighty folks,

Recently I tried 5 crypto in transaction:

BTC
LTC
ETH
NEM

Btc with Segwit is the slowest. So they fucked up uss.Segwit do not work.
Ltc with 8mb!!! Was still slow. I tell you guys 6 confirmations was made around 30 minutes. So I guess technology in Bitcoin Core is really outdated.
I dont think that 2mb hardfork will improve something in Bitcoin...

Ethereum my friends was absolutely lovely. 30 confirmations in 3 minute.

Nem was the chipest and fastest. 0.1 NeM for transaction and almost imidiately.

What your experience? Are you also think that Bitcoin 2 mb will not make weather ?

Also I really doubt Bitcoin,because of al this centralisation of China and miners.

Also of Litecoin with segwit and 8 mb still slow..I dont think that Bitcoin 2mb will be faster

Fuck China,fuck Xi dxin Pin.

They using outdated technology.

AS BITCOINTALK.ORG STILL NO MOBILE VERSION WTF??? Roll Eyes so terrible from phone




Conclusion:

POS(proof of stake/importance) was fastest and cheapest. Also government cant ban "mining" in pos.
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September 21, 2017, 06:08:32 AM
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Bitcoin is not for very time critical transactions like your morning coffee. Segwit/higher blocks can only help processing more transactions, but not faster. Unless the network is congested and you don't pay fees, your transactions will start to get confirmed in the next block. Currently there's only <3000 transactions waiting to be processed which is nothing compared to 100k+ when the network was deliberately spammed to promote forks with higher blocks.

Bitcoin's block time is 10 minutes and if you need 3 confirmations, it will take 30 minutes on average which is fine.

Litecoin has a block time target of 2.5 minutes so it's faster though it requires more confirmations to really trust transactions.

Ethereum started with 17 second block times and now it's already around 23 seconds due to the difficulty bomb and even more confirmations are required to trust transactions (30?).

But Ethereum's blockchain size is also approaching 290 GB while Bitcoin's blockchain size is around 130 GB

And Bitcoin is 4 times as old today as Ethereum (3174 days vs 783 days) so if it was the same age, its blockchain size would be 1.16TB. That's the drawback with fast block times; blockchain bloat.

Sure, you can use fast sync and run a full node with much less space required but the full blockchain is huge.

Avoid centralized, closed source, custodial crypto wallets and exchanges at all costs!
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