Finally Bitcoin is becoming normal

[pooya87]

We have people on the one side saying this is because the price has gone down and less people are using Bitcoin at the moment and on the other side we have people saying that SegWit adoption has increased and it is showing a reduction in transactions because of that.

There are even some people using the Lightning Network, but that impact should have no impact now, because it is still negligible. ^hmmmmm^

No matter what the reason is, we are seeing 2MB Blocks and a reduction in the MemPool, which is good. ^smile^

when price is dropping it means people are selling their coins, then the panic beings and more people sell their coins. a large part of these sellers will be making transactions to move their coins to exchanges to sell. there are also a larger number of people buying because it is a dip and a considerable number of them withdraw => more and more transactions on chain.
in other words people who are saying less usage because price dropped are either misinformed or are spreading FUD.

regarding LN, the impact is not negligible, it is non-existent because there are practically no place that is accepting bitcoin through LN. any place major with any significant effect... it is more like a testing phase.
there are currently 134 LN nodes though and the network has been growing with a very nice speed.

regarding blocks, we have had 20 blocks bigger than 1.5 MB, 5 of which have been >=2

it is funny i made this Milestone topic 2 days ago and nobody was interested in it
https://bitcointalk.org/index.php?topic=2796578.0

[Janademir4]

the price given has become a rule exchanger, then the length of time the transaction due to queue, so please be patient if you do transactions in bitcoin

[HabBear]

Normal is not always nice this confirms worst fears that people are staying away from bitcoins and that is very bad for people who're dealing in it. It means that transactions are not happening, and this could spell doom for bitcoins, I'm happy with high transaction time till more people are actively involved in it. This keeps the momentum going up.

Wow, this comment makes now sense. How do you expect to "keep the momentum going up" when Bitcoin isn't able to compete with the competition when it comes to fees and transaction speed?

We have people on the one side saying this is because the price has gone down and less people are using Bitcoin at the moment

If the price is going down it means a lot of people are transacting bitcoin, they're selling bitcoin!

[millionaireshs]

Lower fees, transactions are approved within minutes or hours and not within DAYS!

Can this please keep itself like this permanently?

This is good to hear, it makes people become interested again with Bitcoins. On the other hand, Bitcoin will benefit also for they will patronize again by many people.
I am not so sure if this will be permanent but hopefully it will. Many transactions are taking place so we cannot blame them but it was their responsibility

[VitKoyn]

Lower fees, transactions are approved within minutes or hours and not within DAYS!
Can this please keep itself like this permanently?

Well the transaction fees are lower than it was before because of reduced volume of unconfirmed transactions (currently 101792) but this is still not normal to pay $10-15 for one transaction. And even Bitcoin transaction fees reduced a lot this past days, it cannot permanently be like this because if another massive buy happened again or if there is someone starts to spam transactions in Bitcoin network, the mempool will be clogged/congested again and fees will increase significantly. People and Bitcoin services should support segwit while waiting for LN.

[LeslyAshley]

it's not a finish. Volatility will always be, bitcoin is impossible to regulate

[Shreek]

I agree with you, because I see a lot of people who complain about fees and also the duration of the long time  transaction, or at least not a cost expensive fees, but the transaction time must be faster.
I think this can be done, maybe we should wait for the bitcoin back stable.

[Carmen01]

OP there's always an answer in many problems here in crypto like if the fee is high like don't make any transaction then wait until it go low,you can easily leave here if your problem is really big because if you have reason like problem that's not good for you another thing your post is not constructive and it's more on negative thinking so always think positive.

[TheGodFather]

Lower fees, transactions are approved within minutes or hours and not within DAYS!

Can this please keep itself like this permanently?

I think this would only get to be the normal process permanently if and only if countries and governments finally accept bitcoin and cruptocurrencies and accept these and draft a regulation or a global process for this to be practiced worldwide to cut off expensive transactions and keep the flow of becoming a digital process be made true and be faster as a whole

[vv181]

Normal is not always nice this confirms worst fears that people are staying away from bitcoins and that is very bad for people who're dealing in it. It means that transactions are not happening, and this could spell doom for bitcoins, I'm happy with high transaction time till more people are actively involved in it. This keeps the momentum going up.

Totally the opposite here, we want fast transactions & lower fees.

Truth is Bitcoin can't sustain that when there is a peak usage of Bitcoin. We know Bitcoin has done many network congestion, and I believe it will keep going like that, until everybody using the segwit wallet or wait for the lightning network to be implemented to the Bitcoin network.

Agree with this,bitcoin can't hold on when everyone using it.Now people are moving away from bitcoin due to worst transaction experience so the blockchain is getting clearer but not due to faster transaction this is happening due to out of customers.And still some wallets has high fees which is around 0.0006BTC maybe it is low fee in terms of USD.Use of segwit will make the transactions more faster than legacy address then it will make the memepool much clearer.So all wallet providers need to upgrade to the segwit address or more people will move away from bitcoins.
Implementation of lightning network will be the ultimate solution for the transaction issues then transactions will be confirmed in seconds.I hope it will be implemented by the end of 2018.

We can't deny that if Bitcoin keeps going like this without foreseeable significant improvement, there is a chance 'uneducated' people will choose "BTrash" as the real Bitcoin. I can see nowadays a plan to migrate to the Segwil wallet is increasing, from the signature campaign manager considering to use the Segwit Wallet for their participant, and many websites have a plan to offer the Segwit wallet.

[Metherry]

All of this depends on the mempool and thus the density of sending people to currencies, the more transfers that are considered spam, the more they contribute to the increase in fees.

yesterday i send about 200$ using 4$ fee only. but generally fee is so high. in the past 100 fee was very large amount of fee.
hope next days miners reduce confirmed price this will really support bitcoin price.
when number of unconfirmed transaction rise again fee will also rise.  


In the future, we may notice solutions that make daily conversions less expensive and thus better for everyone.

[kumar jabodah]

That's why the slowdown of demand for bitcoins. But when it's growing and rising, the price of bitcoins is definitely going to be the blockchain's traffic and it will take days for transactions, Hopefully there will be a solution to this as soon as we get the bitcoins from our people.

[metenjean]

Normal is not always nice this confirms worst fears that people are staying away from bitcoins and that is very bad for people who're dealing in it. It means that transactions are not happening, and this could spell doom for bitcoins, I'm happy with high transaction time till more people are actively involved in it. This keeps the momentum going up.

Its an opportunity for us then, when others are fearful and the coins become cheap then we should start stocking it up. High transaction time and fees spell doom for us, eventhough bitcoin price was decreasing, but if you look at the same time last year when bitcoin worthed around $2000-3000, it means now bitcoins already reached 5x times increased, not to mention it only comes within a few months of momentum, so yeah its perfectly normal to me.

[A1exander]

I've also noticed a sharp decline in fees and the number of unconfirmed transactions, but it may be not 'normal'. The insane fees in December may be artificial, caused by spamming or other manipulation.

[mOgliE]

Hi,

It is hard to say, because it is a technical matter.

I guess that most people are looking for low fees and fast transactions... but this can only be granted for a limited number of people. So the system is quite tricky because more users means a better community but worse services...

Technical tools must be improved. But to be honest, I don't know how. And I guess that if nothing has been made, it is because it is harder to we think!

[JL421]

Lower fees, transactions are approved within minutes or hours and not within DAYS!

Can this please keep itself like this permanently?

Most probably a reduction in traffic rate of exchange caused this to happen. Fees will be more or less the same but transaction confirmation speeds will definitely improve over the coming years. Also, the fees is more nominal in larger amounts compared to a minimal amount of dollars.

[hibiscus]

    Finally Bitcoin is becoming normal I don't agree to this idea because now a days some countries are trying to centralize Bitcoin even though it can't happen .People fear by hearing all the news that government are trying to ban bitcoin so  people are pulling backward from Bitcoin they think there is no option with Bitcoin so they may withdraw from investing in Bitcoin,this is a myth saying that bitcoin will be banned.

[MoonHodler]

Lightening network would change bitcoin forever. a new beginning.

[yonjitsu]

Talking about bitcoin getting into normal business, i wanted it to last a bit longer for now after the correction but that doesn't last longer for even a couple of days when the market is getting bloody again. This month is really tough for bitcoin and other cryptocurrencies and i am just hoping that everything will be back in normal literally very soon.

[fedorover]

I think this is really good development, will encourage people to invest more.