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Author Topic: Time to quit now, network getting worst  (Read 958 times)
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November 15, 2017, 01:18:28 AM
 #21

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

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November 15, 2017, 01:23:31 AM
 #22

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.




This is a problem for Bitcoin that they need to get fixed. The network gets bogged down the more transactions there are. There will need to be other cryptocurrencies that take one some of the cryptocurrency space like Etherium and Iota. Bitcoin will most likely be a coin for storing value in the future because of the high fees and slower transaction times unless they can come up with a fix for it.

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November 15, 2017, 01:26:29 AM
 #23

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.




you can only be patient because bitcoin is very rare and the miners are trying and struggling to get bitcoin, which is why bitcoin is so expensive.

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November 15, 2017, 01:28:58 AM
 #24

I believe this is intentional to bitcoin's price lowers down. again that BCC BTC war gonna start then. Grin

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November 15, 2017, 01:32:15 AM
 #25

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

So it will be problem and problem....and trust gone. Remember, bitcoin value only about trust and faith. If this keep happening, people wont use it anymore and decrease value.
Not everybody use bitcoin with huge transactions. Often they use to send 300-1500$, which it doesn't make sense to spent 15-50$ on transactions fee. And they have to wait few hours or days to get their transactions confirmed...
Except there no alternative.
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November 15, 2017, 01:33:32 AM
 #26

Network getting worst worse
Hate to be that guy, but get the grammar right.

I had 3 transactions stuck in the network for about 2 days, and finally they went through.  I thought they were all going to get sent back, to be honest.  I use Mycelium, and for two of them I used the "economic" option, which came out to be something like $6 for a fee, and the third one I used the "low-priority" option, and it was still fairly expensive for the amount I was sending.  That one was the last to go through--but they all did, and I'm happy.

If you wonder why bitcoin isn't rapidly getting adopted for everyday use, why you don't see people waiting in line, paying for their coffee at Starbucks with bitcoin, this is part of the reason.  If you have to wait for at least one confirmation before you consider yourself paid in full, it just isn't practical.  Nor do I, as a bitcoin user, feel like paying a huge fee just for the privilege of using crypto to pay for something.  It costs me $0 to use cash or my debit card.  Makes sense, no?


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November 15, 2017, 01:34:07 AM
 #27

This is what BCC is "said" trying to fix through making 2mb block size. (correct me if im wrong). Why wont core implement this in butcoin will there be a problem?

BCC/BCH is creating these network problems to try and force people to use their coin.

Fees were 90% or more cheaper a few days ago. Is there ten times more use? No.

If Core did implement 2MB block then the people in control of BCC/BCH would spam that too. They're out to kill Bitcoin and this is one of the ways they're attacking it.

And 90k is far from the highest. It's been over 200,000 in the past.

So are you saying there is no real problem with the current state of the network?  I must say i have a problem with fees on micropayments. Fees are so high not suitable for consumers with small transactions i guess.

And you are right i think they are only attacking bitcoin off its throne.

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November 15, 2017, 01:37:15 AM
 #28

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.




LOL.

Bitcoin is worth over 100B USD and has daily volume in the Billions, is globally held, and you, blackcoiner and also TangentC, say its a shitcoin?

What other economic-advice or life-advice do you have? And why are you on this forum?

=)

Please, feel free to never invest in Bitcoin and have your wealth over time disappear. If you have any Bitcoin, please sell it all.

Smaller blocksize LIMITS spam

Larger blocksize, lower fees ENABLES more spam


The failed bitcoin attackers; Roger Ver, Jeff Garzik, Barry Silbert, and the DCG backed entities (Coinbase, Kraken, Bitpay, Coindesk, Blockchain.info, bitcoin.com, etc) will continue to influence attacks on Bitcoin via forks, code, media (see coindesk) articles and social posts, funded startups, and flow of funds into exchanges (pumps & dumps).

Why do you think the spam started again and increased after announcement of segwit2x (bitcoin-killer) hardfork cancellation?

What's hilarious is the strength of decentralized Bitcoin and its requirement of consensus has destroyed all opposition - every attempt of undermining bitcoin has failed for four plus years since the attacks ramped up in 2013 (4+ years).
Bitcoin is King.

The network of individuals, and companies that are actually pro-Bitcoin are far more powerful than even the DCG-group!

People around the world are seeing this and getting a quick education. Kudos to Bitcoin, decentralization, and the truth.

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November 15, 2017, 01:39:32 AM
 #29

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

It is right. This has been argued a long time ago and just keeps popping up every time a newbie wants to FUD. Blocksize is not a solution to this problem. It will just take more spam tx but nothing can stop them from clogging the system even if you raise the blocksize.

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November 15, 2017, 01:44:12 AM
 #30

In bitcoin technology, there no way do identify which spam or not.
It just because transaction volume already reach the limit, bigger than bitcoin can handle....sad but i have to admit it. Average daily transaction already reach the limit. No space anymore for new adopters or bigger transactions volume.

Of course not. A transaction is a transaction. But we all know what's going to clog and what won't as do the people sending them. Many wallets won't let you choose fees that low and with others you have to actively create them. They know what they're doing.

When this isn't happening there is still more than enough capacity. In August the mempool was empty and zero fee transactions often got through. With Bitcoin without second layers there will always be a limit and people will always attack BTC by exploiting it. 2-3-4MB blocks won't make much difference.

It is right. This has been argued a long time ago and just keeps popping up every time a newbie wants to FUD. Blocksize is not a solution to this problem. It will just take more spam tx but nothing can stop them from clogging the system even if you raise the blocksize.

So what solutions?
Soon transactions will reach 10tx/s  (24 hours average). Even all are legit transactions and willing to pay high fee, still there will have lot unconfirmed transactions per day. Current capacity only about 7-8tx/s (24 hours average).

Are you willing spent 15-50 $/day on transaction fee? when you need to transfer only less than 1000 $
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November 15, 2017, 01:52:17 AM
 #31

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.



It depends on you if you give up the bitcoin just because of one problem because you will not earn money if you give up in one problem.You will not be a successful in the bitcoin.  Just like they say that quitters never win,winners never quit.

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November 15, 2017, 01:54:42 AM
 #32

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization!
Cool
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November 15, 2017, 02:04:56 AM
 #33

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization!
Cool

Indeed, this problem since beginning. But now become very critical due of more people use bitcoin and price increase/down only in few days/hours.
And now it become more mainstream, which mean affect will be more great. And there no solution yet...
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November 15, 2017, 02:07:49 AM
 #34

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.

I'm not sure if your aim is about your concern pertaining to this issue because this has been a problem in Bitcoin ever since that really needs to get fix! But if this is your tactical way to encourage everyone to switch with bitcoincash then you can't count on me..
Bitcoin remains the head of Crypto-currency for real decentralization!
Cool

Indeed, this problem since beginning. But now become very critical due of more people use bitcoin and price increase/down only in few days/hours.
And now it become more mainstream, which mean affect will be more great. And there no solution yet...

I guess the devsaredeveloping ways on how to improve this transactions. Because from now we can say that it improves rather than seeing 14000k unconfirmed transactions in the past 2 days. As a traderwe can just wait until it improves or pay some high fees if really need something to send.

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November 15, 2017, 02:08:43 AM
 #35

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.




If that's how you feel then you may do so, however i suggest that check the figures of previous unconfirmed transactions that was way higher. The trend as well does not speak that it is going down, in fact when you compare the market stability from previous months, Bitcoin is doing pretty well, that drives the transaction cost also.. Just don't be impulsive, weigh other factors and be open to other perspective.
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November 15, 2017, 02:21:46 AM
 #36

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.


i think we need to waiting for a while if we see the transaction it seems overload and there is need high fee to send the transaction. this time we need to be patience if we want to make transaction because there will be big delay of the time to be arrived in other wallet. but i am sure that everything will be fine and we can send transaction without spend high fee and i think it is just temporary.

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November 15, 2017, 02:22:28 AM
 #37

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.

At moment, transactions very low, only about 6tx/second (average for 24 hours). If there bigger transactions, definitely there will be more unconfirmed transaction, doesn't matter how much fee you willing to pay.




If that's how you feel then you may do so, however i suggest that check the figures of previous unconfirmed transactions that was way higher. The trend as well does not speak that it is going down, in fact when you compare the market stability from previous months, Bitcoin is doing pretty well, that drives the transaction cost also.. Just don't be impulsive, weigh other factors and be open to other perspective.

I monitoring transaction volumes last few days....unconfirmed transactions decreased. But it will take few days to confirm all transactions.
Remember, bitcoin only able handle about 300K transactions/day. And average normal transaction now between 290K-330K transactions.
This mean there will be huge problem if lot people join bitcoin market right now, and current bitcoiners not able to do transactions more often!
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November 15, 2017, 02:47:46 AM
 #38

Yeah, the network is insanely congested at the moment, but that's because of the Bitcoin Cash attack. That's what I believe anyway. If we follow this train of thought then that means things will normalize after a while, so it may be better to just HODL. People seem to be thinking the same way, with Bitcoin approaching $7000 again.

This has been an eye opening experience though. Something must be done to address this problem. The Bitcoin network needs to be able to handle far more transactions daily.

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November 15, 2017, 02:50:51 AM
 #39

I really don't understand why so many people don't support Segwit2X. The situation could have been much better.

Stay Hungry. Stay Foolish.
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November 15, 2017, 02:53:27 AM
 #40

Network getting worst....there still about 90K unconfirmed transaction and transactions cost become so high.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon
There seem no way to solve this network problem, transaction per-second more higher than bitcoin network can handle.

I'm not crazy enough to spent fee 15 - 50 $/transaction. If i only sent 1 transaction per day, maybe just fine.
Give it some time. The network is getting so congested because people like you, were selling their bitcoin and getting into BCH, that's what was causing the drop in price as well as the increased fees. Now that the situation is getting calmer and BTC us rising I think the network should be back to normal in few days. Fees are still a big problem for BTC even if the network is not congested, but that's a discussion for some other time.

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