That's bad.
You sent a BTC transaction 2 days ago with a fee of $5 approx. and it hasn't been confirmed yet.
We don't recall seeing something like this in the past.
Bitcoin is in big trouble.
Same thing happened to me, a 5 USD equiv fee which took 24 hours. A week ago, a 8 USD fee which took 8 hours to confirm. Me and my clients have had enough of the high fees.
It is in trouble, and i cannot bury my head in the sand, i was recieving payments in BTC from clients and business customers for the past two years from across the world, we have now moved to NEM/Litecoin, as I cannot take the volatility in price nor this endless high fee with nothing serious being done to address it, many people wanting prices to go up/down to benefit THEM, at the expense of the currencies utility and endless debates and arguing with nothing done, even the segwit implementation did very little thus far. This is not unlike the dotcom boom, in its current state, its viable for nothing more than digital gold. I mine a bit, but for the most part, i use it as it was intended, a digital payment system which worked well from across the world, its even cheaper for us to use PayPal at the moment for our TX sizes. Increasing the block size isn't enough. Imagine a whole towns worth of transactions every second. This would choke the Bitcoin network even with huge blocks, now try and expand that globally. Yes, there is serious trouble. And this isn't FUD, for me a drop in price is not good given the fact I make from GPUs to pay for the winter heating and a bit extra, for me a drop in price isn't beneficial, but how long can everything run on hot air and mania for? There needs to be solid steps for its PRACTICAL utility as a currency, or it will forever be a store of digital gold, and i would rather own physical gold and silver over a digital version, as you have something thats tangible.
You have people selling their HOUSES, their security that they OWN and taking out second mortgages to get on this train. If that isn't mania, I do not know what is. Even if i had a 99% chance of a profit, i would NEVER gamble that roof over my head, that security where if i owned no rent to pay, no risk of losing my home, that comfort and security is worth too much to me, but people ARE gambling this. I saw someone trying to get a £5k loan on here to get onto the mining train.
I will admit, i cashed out around £10k to help me move to this city and set up here with my partner and a business. I missed out on £50k had I held which is a bit of a bummer. But do i hold regrets? No. I have stability in my life and not uncertainty, an amazing home with my partner, and I have been expanding my reach for my meditation and spiritual seeking group too, keeping a balance. raw cash alone will not be enough to lure me in, im perfectly content with my life.
Don't get greedy. I have been investing a bit per month into digital currency, but its not gambling what i cannot afford to lose, but to see where it goes. I do not spend all day on a forum endlessly speculating, nor getting red-eyed in front of charts all day, its not healthy for the mind, and creates apathy. I even see people gloating on forums like this when the prices rise/falls, apathy to the fact that some lost for their gains. Apathy to those outside of the cryptoland, its addiction and is not unlike a gambling problem, hence why I took some time out from the digital currency world to balance myself, the mental health improvement has been worth more than £40k. Seeing the world, seeing my friends, spiritual meditation and channeling groups, seeking.
Thats been worth it, but I am also into IT as a hobby and therefore am mining a bit with GPUs with the power cost negated by the need to heat, investing a few quid a week into currencies like NEM, and seeing where the wind takes me. Everyones path is sacred to them however, whatever they chose. But this is my stance on the current state of Bitcoin, and thus direct much energy to trying to improve the world at large as endlessly speculating will do nothing, everyone i see is waiting for change, rather than looking within to help it be expressed.
