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Author Topic: Bitcoin is DEAD  (Read 2006 times)
GODLIKE
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December 21, 2017, 08:20:30 PM
 #1

A couple days ago I posted here because of a transaction stuck in the void for which I paid 30 dollars fee.
Now, one hour ago, I sent a transaction with a 130 dollars fee.
ONE HOUR, STILL ZERO TRANSACTIONS, 130 DOLLARS FEE.
I'm sorry to write this, but Bitcoin is DEAD.
I've been a defender of it up until now, but we've gone too far.
Who the hell is going to buy Bitcoin when the word will spread?
When people will try to get their Bitcoins from the exchanges, they'll meet this reality, and Bitcoin will be dead in DAYS, after the word will begin spreading.
Just please don't go on BCH, let's try to move onto better technologies like Byteball.
BTW can anyone tell me what should I pay to move my Bitcoins now?
I have now 4 Bitcoins stuck in the void.

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radokan
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December 21, 2017, 08:32:15 PM
 #2

It is crazy. I was just about to send 0.2btc and i have to pay more than 0.006 fee! This is outrageous! Almost 300k unconfirmed transactions and it's not getting any better
GODLIKE
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December 21, 2017, 08:45:44 PM
 #3

It is crazy. I was just about to send 0.2btc and i have to pay more than 0.006 fee! This is outrageous! Almost 300k unconfirmed transactions and it's not getting any better

I would bet my left testicle that Ver is spamming the network like a madman to help his BCH crap increase in value.
Don't go on BCH, it's an old technology, it's just Bitcoin with an 8MB block, move onto real better technologies like IOTA or Byteball, don't make his game!

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December 21, 2017, 08:50:02 PM
 #4

TV fundraisers with celebrities used to overload phone networks. Christmas shopping still overloads payment networks in some places.

That doesn't mean - and has never meant - that these systems were or are unusable. It just means that capacity couldn't meet temporary or increasingly high demand.

What you see with Bitcoin today is very similar: demand is growing and every time there is "news" or "panic" of some kind, demand peaks way beyond its capacity.

Meanwhile though, people ARE working to increase capacity of the bitcoin network. Over 10% of transactions now use SegWit, and this continues to rise. Other developments are underway as well.

Of course increasing capacity doesn't necessarily mean that it will keep up with demand. It's clearly not. Not yet anyway. But that doesn't make bitcoin "dead". For it to be dead, both users and developers need to give up completely.

I don't see that happening any time soon. While you, and others, may be growing impatient, the number of people interested in bitcoin is in fact increasing rapidly. It's very much alive.
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December 21, 2017, 08:52:50 PM
 #5

this is strange, last week i did two small transactions with bitcoin with small fees enough to register them as low priority and they went through in about 90 minutes.
I also have a transaction of about $16 to receive for 2 weeks now and it is still unconfirmed,
its low value so there is no point to add more fees to have it released.
this unpredictability in transaction fees is killing bitcoins usefullness.
GODLIKE
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December 21, 2017, 08:55:23 PM
 #6

2 hours, ZERO CONFIRMATIONS.

https://live.blockcypher.com/btc/tx/896db98664cfeb280477b56383b9fbab6232fc21ca06902c44b89173d496f817/

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December 21, 2017, 09:01:58 PM
 #7

Because you're having a bad experience with the chain, you're calling this coin dead? Feel free to send me your 4BTC then brah. I'll gladly take them off your hands.

As @xnpu mentioned above, there is a throttling that is happening right now, and it's due to people discovering Bitcoin for the first time, and undoubtedly some spamming going on by haters against BTC. Is it unfortunately that the network can be attacked and become vulnerable due to spam? Absolutely. Does that mean that Bitcoin is dead? Nope. That's just spreading fud, and it's only hurting the industry.

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December 21, 2017, 09:06:02 PM
 #8

IT isn't dead yet but I think now there are other factions with huge interests and a lot of money who are trying to bring other coins to prominence. Like the banks are supporting and buying hugely into RIPPLE. Then you got Jihan Wu and Chris Verge waging war on Bitcoin with Bitcoin cash because they wanna make more money and then you got the Business capital flowing into ETHEREUM AND NEO ICOS. So this si what is causing the pressure to kill Bitcoin and take it from being a first place BITCOIN into a secondary altcoin.

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GODLIKE
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December 21, 2017, 09:09:03 PM
 #9

Because you're having a bad experience with the chain, you're calling this coin dead? Feel free to send me your 4BTC then brah. I'll gladly take them off your hands.

As @xnpu mentioned above, there is a throttling that is happening right now, and it's due to people discovering Bitcoin for the first time, and undoubtedly some spamming going on by haters against BTC. Is it unfortunately that the network can be attacked and become vulnerable due to spam? Absolutely. Does that mean that Bitcoin is dead? Nope. That's just spreading fud, and it's only hurting the industry.

I'm not a "hater", at least read what I wrote.
It's just that this thing is ridiculous.
And for your information "the industry" includes better technologies around.
Oh and I'll exchange my BTC for other coins, this is sure. They serve no purpose at the moment, with a network like this and fees like this.

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equator
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December 21, 2017, 09:15:59 PM
 #10

I agree with OP that the developer and hardfork persons of BCH are creating all sorts of problem to bitcoins so that their coin can get more attention. But still i think BTC is right now in very bad shape.
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December 21, 2017, 09:17:06 PM
 #11

Hello all! All new things have some problems! I am sure no matter about what we talk but if this is new in this World it's need pass a lot of changes and modernization. Hope this will be resolved soon how update bitcoin more adaptive for needs of potential mass users! Maybe it will dead it the future but not right now.

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December 21, 2017, 09:17:52 PM
 #12

Don't forget you can buy a big mac next year with bitcoin?

Guess how much it will cost?

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December 21, 2017, 09:26:33 PM
 #13

I'm not a "hater", at least read what I wrote.
It's just that this thing is ridiculous.
And for your information "the industry" includes better technologies around.
Oh and I'll exchange my BTC for other coins, this is sure. They serve no purpose at the moment, with a network like this and fees like this.

When did BTC serve any significant purpose anyway?
BTC is highly speculative and it's price is just people speculating that it will have huge purpose one day.
BTC price never reflected it's value in the moment, but the value it will have once adoption becomes big enough.
You can either wait to see how Segwit and LN will deal with this or panic and leave now.
It is your choice, each perfectly valid and no one can blame you for it.

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December 21, 2017, 09:31:29 PM
 #14

A couple days ago I posted here because of a transaction stuck in the void for which I paid 30 dollars fee.
Now, one hour ago, I sent a transaction with a 130 dollars fee.
ONE HOUR, STILL ZERO TRANSACTIONS, 130 DOLLARS FEE.
I'm sorry to write this, but Bitcoin is DEAD.
I've been a defender of it up until now, but we've gone too far.
Who the hell is going to buy Bitcoin when the word will spread?
When people will try to get their Bitcoins from the exchanges, they'll meet this reality, and Bitcoin will be dead in DAYS, after the word will begin spreading.
Just please don't go on BCH, let's try to move onto better technologies like Byteball.
BTW can anyone tell me what should I pay to move my Bitcoins now?
I have now 4 Bitcoins stuck in the void.

This happened to me too. I send about 75$ of BTC an hour ago, and without even realizing it, it cost me 50$ of fees, im fu***ng furious  Angry Angry Angry worst part is, Exodus will tell you fees at the bottom of the transaction in small tiny letters. I mean common for Christ sake  Angry Angry Angry Angry Angry...Miners must be sooo happy now!!!
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December 21, 2017, 09:36:08 PM
 #15

i have to quote myself from another BTC is dead blabla thread:

Right now i sent 1.0 BTC from my electrum wallet to binance exchange. It took 35 minutes and costs 40$... Its not the fastest and cheapest way, but its by far not that bad you all are telling

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December 21, 2017, 09:36:58 PM
 #16

Bitcoin has died 217 times

From BitcoinObituaries.com | Bitcoin Declared Dead 140+ Times and Counting
https://99bitcoins.com/bitcoinobituaries/

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GODLIKE
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December 21, 2017, 09:39:18 PM
 #17

i have to quote myself from another BTC is dead blabla thread:

Right now i sent 1.0 BTC from my electrum wallet to binance exchange. It took 35 minutes and costs 40$... Its not the fastest and cheapest way, but its by far not that bad you all are telling



I am not "telling", I gave you a link.
Click it and watch for yourself the evolution of that transaction, fees included.

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GODLIKE
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December 21, 2017, 09:40:35 PM
 #18

Bitcoin has died 217 times

From BitcoinObituaries.com | Bitcoin Declared Dead 140+ Times and Counting
https://99bitcoins.com/bitcoinobituaries/

I know this better than you, much probably.
And yet, I feel this is the right time, because all the other times anyone has written a Bitcoin obituary, it was for stupid reasons.
Here we have a network that is completely unusable = the technology is dead.
Switch to Byteball.

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December 21, 2017, 09:56:09 PM
 #19

      Bitcoin is not dead. It will become dead if nobody use it,patronized it and continue to earn on it. Just look bitcoin price still high even it drop down. And the value of bitcoin is different from other cryptocurrency,it will not end in just one click.The higher fees and low transaction now is just a cause of hollidays. Most of the people are in rush even in selling their bitcoin that really affect the bitcoin market but i think there is no reason to worry about.

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December 21, 2017, 10:00:34 PM
 #20

Fees are insane .... and the wait ...  Embarrassed
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