Bitcoin is garbage.

[RawDog]

How can we be expected to invest in this stupidity?

Here is a guy trying to give Andreas a tip of $1.50.  To do that, he paid $13.46 in fees.  Does that seem like a sensible payment system?  Not.  It is garbage.  SegWit didn't help with anything.  

[zenrol28]

That's where altcoins are useful. When bitcoin's value are so high that giving a tip is such a waste you can use altcoins. Bitcoin is not the only cryptocurrency. And bitcoin will not be on top if there's none on its bottom.

[RawDog]

That's where altcoins are useful.   

Bitcoin was supposed to be useful too.  Now it has been rendered nothing more than a Ponzi scheme.  It has no real purpose other than for more and more people to come one after another to give money to the guys already in.  Then BAM!!! a total freefall collapse.

[ninche]

bitcoin will have miserable end

[dillpicklechips]

That's where altcoins are useful.  

Bitcoin was supposed to be useful too.  Now it has been rendered nothing more than a Ponzi scheme.  It has no real purpose other than for more and more people to come one after another to give money to the guys already in.  Then BAM!!! a total freefall collapse.

Sorry? Your a legendary member and you don't even understand what's happening? I understand that you are upset since in the past, Bitcoin is a cheap way to do transactions or just simply send money other than remittance centers.

Now that Bitcoin's price surged hence reflected in the fees. It will take time to adjust. And... SegWit seems to be insufficuent to solve the issue since the congestion in the blockchain is still happening even after the implementation which is absurd.

[TimtheYoutuber]

This was one of the reason ethereum looked so nice  when I invested. Although the fees dont have to deal with the amount of btc, it is a problem with micro payments which is why people should use alternatives like litecoin, dash, ethereum.

[Boseda]

This was one of the reason ethereum looked so nice  when I invested. Although the fees dont have to deal with the amount of btc, it is a problem with micro payments which is why people should use alternatives like litecoin, dash, ethereum.

Don't you see what happened to Ethereum over the last few days with all those kitties?

[JohnB31]

It's Rawdog, he is a well known troll he likes to kick shit up and say dumb stuff. Just ignore him.

Thanks for informing me about trolling so perhaps better to ignore.
However the post made me think about the fee if i would send Andreas $1.50 from my standard bank account:
Fee 15 euro  => 17,65 US dollar.

[intelligent.investor]

That's where altcoins are useful.   

Bitcoin was supposed to be useful too.  Now it has been rendered nothing more than a Ponzi scheme.  It has no real purpose other than for more and more people to come one after another to give money to the guys already in.  Then BAM!!! a total freefall collapse.

Well sometimes i got the same feeling.....

But it would be unwise to say it a Ponzi. It doesn't fall in its definition.

[iram1011]

Thanks for informing me about trolling so perhaps better to ignore.
However the post made me think about the fee if i would send Andreas $1.50 from my standard bank account:
Fee 15 euro  => 17,65 US dollar.

Fine, agree!
You saved $4 in Bitcoin.
But can it be considered as use case of bitcoin? We can save billion in remittance fees using other better altcoins. Where is the utility of bitcoin?
It's mere a store of value or an investment asset that is highly overvalued with no intrinsic value. I don't understand why people don't see the reality? It is just a technology and technology goes obsolete.

If anyone here can explain me how bitcoin can sustain it's value in long run?

[RawDog]

It's Rawdog, he is a well known troll he likes to kick shit up and say dumb stuff. Just ignore him.

Fuck you.  That is total bullshit.  Even guys in this thread say the feel the same way.  That's not trolling buddy.  Just because someone says something against your personal feelings, it doesn't make them a troll.  

Satoshi Bitcoin, the real bitcoin, didn't have 1Meg blocks which totally fuck up the fees and MemPool.  1 Meg blocks are there just to drive demand for the Blockstream product 'Lightning'.  It's a scam, and you guys fell for it.  Thank god the people at Bitcoin Cash forked in time to forever get rid of that SegWit shit.  Now the chain has been preserved.  All you will come back to BCH when you finally figure it out that Blockstream is screwing you.  

Now go fuck yourself King Colon.

[btcprospecter]

In a way you are right tho I gave someone 0.0015 and payed about the same in transaction fees the trouble will come when people who thought they were going to make a quick buck all try cashing out.

[RawDog]

In a way you are right tho

You don't have to tell me that.  I am always right so I already know.

[darkangel11]

How can we be expected to invest in this stupidity?

Here is a guy trying to give Andreas a tip of $1.50.  To do that, he paid $13.46 in fees.  Does that seem like a sensible payment system?  Not.  It is garbage.  SegWit didn't help with anything.  

If you're an idiot who thinks BTC was made to allow you to buy a pack of chewing gum or tip people $1 so they can buy themselves a soda, be my guest. What if somebody were to go to a bank in the United States and asked them to convert his $2 into Euro and send to his friend in France? We'd have a very similar situation where the bank fees would be higher than the payment itself. If you really want to send $2 in BTC at least be smart enough to make it a batch payment. Sending multiple single small transactions with a high fee (because a fee of $13 is far above the average) is a financial suicide.

In a way you are right tho

You don't have to tell me that.  I am always right so I already know.

The shiny rays of your modesty are blinding me.

[Hydrogen]

I'm divided on transfer fees.

I know people dislike like paying $13-$20 in xfer.

Part of the issue could be blockchain.info publishing only dollar amounts and not disclosing the amount of BTC in exchanges. Looking at the BTC amounts of transfers 16 months ago, the amounts would be $1 in transfer fees but due to the rising value of bitcoin that $1 is now worth a lot more.

Also some wallets appear to be recommending far higher transfer fees than are required for reasonably fast transaction.

[Janation]

We all know that the fee are so high, but we are still using bitcoin as a payment? There are a lot of other means of tip that you can use. A lot of streamers online are having a lot of payment with a low amount and the people are not having any complaints,  why not use that? Bitcoin is getting expensive and expensive so I think the fees are expected to do the same.

[benalexis12]

Yes bitcoin is getting expensive they should reduce the fee in the blockchain. Oh I think we have a lots of forked of bitcoin cause the lower fees are visible at them.

[Beicin]

Bitcoin is suffering growing pains right now. We need to give it some time in order for the scaling solutions to me researched, coded and implemented into the ecosystem. Once they are properly rolled out, we'll be back to cheaper and fast transactions like we grew accostumed to in the past.

[Dodoymabs]

I'm divided on transfer fees.

I know people dislike like paying $13-$20 in xfer.

Part of the issue could be blockchain.info publishing only dollar amounts and not disclosing the amount of BTC in exchanges. Looking at the BTC amounts of transfers 16 months ago, the amounts would be $1 in transfer fees but due to the rising value of bitcoin that $1 is now worth a lot more.

Also some wallets appear to be recommending far higher transfer fees than are required for reasonably fast transaction.

The main reason is supply and demand. The amount of transactions that the miners can mine depends on the size of the block they mine. a 1mb block can only hold 1mb worth of transactions. For all of 2017, the number of bitcoin transactions people want to make has gone up. Usually it is more transactions than one megabyte every ten minutes can handle. Because of this, the price has gone up.

[filharvey]

How can we be expected to invest in this stupidity?

Here is a guy trying to give Andreas a tip of $1.50.  To do that, he paid $13.46 in fees.  Does that seem like a sensible payment system?  Not.  It is garbage.  SegWit didn't help with anything.  

I could understand your true care about bitcoin.But don't worry and stay cool.We could hope that very soon lightning network would be activated and all these transacion fee problems would get solved.

This issue has mainly raised as many bitcoin holders tried to sell their bitcoins as bitcoin price reached ATH,they just tried to sell bitcoins to enjoy the high value benefit and more over christmas and new year coming or them to celebrate.

But,very soon this problem would get solved.