Time to quit now, network getting worst

[blackcoiner]

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

Because miner doesn't want it. Simply, if size bigger...there will be almost no transaction fee.
i'm not sure why 100K+ $ reward per block still not enough for them. Some of them earn 1M $/day just from reward...and still they want more

[1713412004]

1713412004

[1713412004]

1713412004

[1713412004]

1713412004

[1713412004]

1713412004

[MarcelToma]

I have 2 concerns about the congestion issue.

First, the number of transaction and ppl adopting bitcoin grow faster and even valid transactions will have to wait days for confirmation.

Second, I saw the discussions of ppl involved in segwit2x and all other modification in the bitcoin protocol, the problem here is that the consensus about adopting a change in it is basically up to developers and miners. Well, miners just want things the way it is now, it is more profitable and they will probably take it to a extreme until they are forced to do a change.

Anyone knows any news that would address this issues?

Please, don't use your on rage on me, I just want a calm and thoughtful discussion.

[sukamasoto]

I think it's back to normal already and also bitcoin is start to climb up

It's sucks since it also happen to me as well , imagine when I want to send 0.01 , it require 0.002 fee ( highly expensive )

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

Because miner doesn't want it. Simply, if size bigger...there will be almost no transaction fee.
i'm not sure why 100K+ $ reward per block still not enough for them. Some of them earn 1M $/day just from reward...and still they want more

I thought on that day, most miner move into BCH

[phutakami]

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.

Transaction fees are rising but the quality of trading is low I'm wondering if the miners they are working on are becoming sluggish or the volume of trading is rising.

[blackcoiner]

I have 2 concerns about the congestion issue.

First, the number of transaction and ppl adopting bitcoin grow faster and even valid transactions will have to wait days for confirmation.

Second, I saw the discussions of ppl involved in segwit2x and all other modification in the bitcoin protocol, the problem here is that the consensus about adopting a change in it is basically up to developers and miners. Well, miners just want things the way it is now, it is more profitable and they will probably take it to a extreme until they are forced to do a change.

Anyone knows any news that would address this issues?

Please, don't use your on rage on me, I just want a calm and thoughtful discussion.

1. Bitcoin transaction volume capacity
This is calculation for that: (average)

=> Block =  1 block/10 minutes, 6 block/hour & 144 block/day.
=> Block Size: 1mb/block
=> Transactions/block: 2150
Total capacity/day: 309.6000

Doesn't matter how much fee you willing to pay, doesn't matter hash rate we have....that number will not changed.
Because of this you need pay bigger free to get prioritized by miner, but when transactions volume higher than max volumes, doesn't matter how much fee you willing to pay....your transaction will stuck.

2. Segwit2
Miner doesn't agree with this because if block size bigger, so automatically will include all transactions. No one willing to pay transactions fee, and miner doesn't want this to happen.

right now we are on status quo...and this will keep continue. I don't know when this will resolved, this involving money and people interest....

This main reason i want to quit, because soon transaction will become bigger and bigger, new people come and most people will not accept their transactions stuck for few days. This could lead bitcoin fall....trust gone.

[romecheo]

This is not new at all, when Bitcoin dropped for more than 30%, people are suddenly panic, and those with weak arm are going to immediately sell their Bitcoin.

They still haven't understand the long recurring situation,

Some acquisitive whales who manipulated Bitcoin value and may result to price dropped, then those who have weak hand are going to sell their Bitcoin = some greedy whales are jumping on their joyful.

We have to be aware and be cautious my friend.
 

[Cranidos]

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.

The network is not getting worst, it is being attacked by some random someone who has a lot of time to be wasted and a lot of funds to be toyed. This is just a scheme played by them in order to pump Bitcoin Cash and compete with Bitcoin. The high number of unconfirmed transaction is not a new thing. I've seen this before and we will see this again at some point.

This will settle down soon enough. But until then, we will experience a huge tx fee.

[Jating]

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.

The network is not getting worst, it is being attacked by some random someone who has a lot of time to be wasted and a lot of funds to be toyed. This is just a scheme played by them in order to pump Bitcoin Cash and compete with Bitcoin. The high number of unconfirmed transaction is not a new thing. I've seen this before and we will see this again at some point.

This will settle down soon enough. But until then, we will experience a huge tx fee.

If my memory serves me right, there were also such attacks at the height of the scaling  debate, spammer attacking and clogging the mempool but it then suddenly drop and we can only assumed who are the people behind.

And when Segwit2x got cancelled, we see the same attacks and and then suddenly bitcoin cash was pumped, so we can conclude as to who are the people behind the spam and if you look at it the timing is very well organized.

[lzby2000]

Transaction costs are indeed one of the big drawbacks of bitcoin. This situation in the original design, must have not thought, because there were not so many people trading, will not cause congestion. Now the situation may be a chance for forks, what do you think?

[jirene21]

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.

Well if that's true then quit. It's your decision if you gonna quit or not

[imstillthebest]

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 know and i feel you about this problem that were facing now and i think this is happening due to that bitcoincash hype and maybe because bitcoins value is still rising but there were still known and proven ways to solve this network congestion and slow unconfirmed transactions just by using a transaction accelerator like viabtc or any others, just google "free bitcoin transaction accelerator" and choose the best that will suite your needs.

[Karakyli]

This situation just reveals the long-overdue problems with bitcoin. Low transaction bandwidth and their high cost, because of which bitcoin is constantly criticized. If its developers do not correct these shortcomings, then bitcoin risks losing its place as the leader of the crypto currency. Already, his clone bitkoin cash began to claim him, which is deprived of these shortcomings. Therefore, the original bitcoin fell in price, and bitcoin cash for some time rose to its historic maximum of 2500 dollars. The real battle between them is yet to come.

[Hazir]

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

This always has been a problem - but we can't do really anything about it as bitcoin is gaining more and more recognition -
on chain solution to boost network capacity might not be enough in the end.

If this keep happening, price will drop into shit soon....it could lead price to below 5K soon

I doubt it - it will be rather otherwise and we will sooner see $10k BTC than $5k.

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 you wish you can always sell off all your coins and never look back - I get the impression that you might be making a big mistake here if you would leave

[jc89]

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.

Very well then. It's your choice if you want to quit. Maybe bitcoin or any other cryptocurrencies aren't for you if you're folding this early. There's one word that most here believe in and that is patience. So maybe it really is time for you to say your goodbyes and just go back tou your traditional currency since you don't have an ounce of it.

[DoublerHunter]

For me, it is not the time to quit right now because the bad network of our system is just for temporary and in the future, we can have a solution that will become the best solution to make things good or even better than before and with that, we will not encounter any problem anymore because the network will become healthy again.

[lichao1395427]

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, yet.

[centralbanksequalsbombs]

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.

Amazing to see global trade (and mining growth would coincide with trade) growth on localbitcoins as well (scroll down to see all the individual countries):
https://coin.dance/volume/localbitcoins     :

[/quote]

Today, Bitcoin is probably almost 1% adopted by people all around the world. Even in the most adopted country, the USA, most people have no idea what Bitcoin really is. Japan, may have a slightly higher number in percentage terms.

Bitcoin has been banned all over the world by all big banks in nearly all countries since 2013 (for over 4-years) and the banks have completely failed at stopping Bitcoin's growth. At a bank, just try to do a bank transaction say its for "Bitcoin" and watch your transaction be blocked for review.

BUT Everyone in all countries are still finding a way to get Bitcoins. They simply never say "Bitcoin" when dealing with banks. People are smart.

Nothing can stop Bitcoin as it reached escape velocity back in 2013.  What do you think everyone's been doing for the past 4 years??

Bitcoin has been unstoppable growth since 2013.

Wait until we are closer to 3% adoption in the world.

Once we hit 4% adoption in the world, then Bitcoin = mainstream.

Let that sink in.

[fullhdpixel]

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.

It's up to you mate, but if you ride the FUD it'll be your decision, somehow, maybe they are just up to something to bring the price of Bitcoin down in order to accumulate more into lower prices.

I have the very same opinion regarding this statement. All these rumors are spreading just because other digital currencies are jealous of bitcoin and they want bitcoin market to go down as soon as possible so that they can increase their coins in value and compete with bitcoin to take its place.

I am not going to leave bitcoin no matter what the community is saying about bitcoin market especially international media.

[Godric-Gryffindor]

The truth is we all want faster transaction, that's why Bitcoin Developers doing there very best to provide us what the community need, but its your choice if you like to quit no one is forcing you to do that, risk is always be their but the most important thing is you handle emotions better

[leonair]

I wonder if OP already quit. We must understand that bitcoin is still on the development phase and even the creators of the coin are also overwhelmed on the fast acceptance of the coin by the people. We just need to wait for further upgrade on the system and have those transactions processed faster.