Schmolke (OP)
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January 23, 2018, 07:59:39 PM |
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Only a few years ago we had a growing number of shops here in berlin that you were able to buy food and/or drinks from for bitcoin. Right now there are no more of these stores left. And most of the sellers I used to buy things from on the big marketplaces now refuse to trade bitcoin too and changed to etherium. I know for those people that think that bitcoin is the new gold it is not that bad but bitcoin was "released" to be something completely different. Right now bitcoin is no real crypto currency at all. Buy a coffee for 2,5 bucks and pay 25 bucks fee.... sure.......... In my opinion bitcoin completely failed because of these fees and I sold every last satoshi and invested in other crypto currencies. Is there a single reason to stick to bitcoin? If yes, please feel free to tell me!
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LeveldKrypto
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January 23, 2018, 08:02:30 PM |
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Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.
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gentlemand
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Welt Am Draht
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January 23, 2018, 08:05:23 PM |
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Why are they switching to Ethereum? That has its own fee and chain freezing problem too. As soon as something is used en masse then this will happen. If everyone switched to LTC it would happen eventually too, though it does indeed have more capacity.
That's why we've sat waiting to see if layer 2 stuff works. No conventional blockchain will ever, ever scale enough to satisfy everyone's daily spending.
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Seyffertt
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January 23, 2018, 08:05:53 PM |
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the fees are 6 bucks for a median transaction https://bitcoinfees.earn.com/Still High, but is going down The sellers need to accept Dogecoin to buy food / drinks and micro transactions 1 cent fee |
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gentlemand
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January 23, 2018, 08:09:51 PM |
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Still High, but is going down
Falling fees for now doesn't really cut it. Either Coinbase could decide to up what they're paying ridiculously again or miners might decide to start spamming. High fees are a permanent addition unless Bitcoin's in a fallow period. Even if there is one if any merchant acceptance comes back it may well be extinguished by another period of high fees. |
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Byatt
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January 23, 2018, 08:13:19 PM |
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It would be nice if we will used crypto currency as payment for affordable fees. Yes youre right the fees are not reasonable at all its too high than what you pay for food or stuff.
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btctalk123
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January 23, 2018, 08:16:12 PM |
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But the problem is that it will be never be solved. A lot of people are here only for making money purposes,and they all are trying to do as much as possible in order to earn. And what do you think, they will risk all their money just because of a dip? of course not, that is why they sell everything. Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.
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avikz
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January 23, 2018, 08:16:59 PM |
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It is truly a pain point now and needs serious attention of the community. Even though fees are decreasing slowly now but it will go up again based on the network congestion. It is indeed killing bitcoin and frequent transactors are moving to the altcoins to meet their transaction demand. I believe lightening network is the best solution we can think off and it needs to be implemented quickly to solve these issues once and for all.
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TimtheYoutuber
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www.positivebetting.com
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January 23, 2018, 08:17:10 PM |
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This has been a problem with bitcoin for awhile, but I dont think it will be a sole reason it will fail.
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Positivebetting
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Tilim@Tilim
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Fast, Smart, Trustworthy
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January 23, 2018, 08:17:35 PM |
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I don't get why people stress so much paying taxes....since bitcoin is descentralized, I don't see how government can catch you if you own some coins (any of them) and tax them. You don't go with your bitcoin address to the IRS telling them you own. The issue begins when exchanges start sharing kyc data, until then enjoy your coins and don't pay a damn tax.
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Laurayaki
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January 23, 2018, 08:17:44 PM |
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Everyone wanted his share of the cake and clearly yes that killed the bitcoin,
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mersal
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January 23, 2018, 08:19:20 PM |
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As you said, bitcoin was killed by more its high transaction fee so now people are moving from bitcoin to other coins that's why the price keeps falling.But it is just temporary problem and it can be solved to great extend if all people start to use segwit wallets then legacy.But the permanent solution will be the implementation of lightning network.
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Joel_Jantsen
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Get your game girl
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January 23, 2018, 08:21:37 PM |
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Why are they switching to Ethereum? That has its own fee and chain freezing problem too. As soon as something is used en masse then this will happen. If everyone switched to LTC it would happen eventually too, though it does indeed have more capacity.
Not really.It totally depends how much of a coin's external operations are dependent on other entities like miners,exchanges etc.I'm pretty sure there are coins which have solved the issues bitcoin couldn't or which occurred after bitcoin started scaling. That's why we've sat waiting to see if layer 2 stuff works. No conventional blockchain will ever, ever scale enough to satisfy everyone's daily spending.
What is Layer 2 stuff ? Are your thoughts about conventional blockchain based off facts or just an assumption ? |
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Schmolke (OP)
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January 23, 2018, 08:22:21 PM |
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The sellers need to accept Dogecoin to buy food / drinks and micro transactions
1 cent fee
I really love doge and it's crazy community but for some strange reason not too many people seem to like doge. :/ |
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gentlemand
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Welt Am Draht
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January 23, 2018, 08:25:10 PM |
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What is Layer 2 stuff ? Are your thoughts about conventional blockchain based off facts or just an assumption ?
Lightning networks. Conventional blockchains are Bitcoin, which can't scale in its current form. The next most used blockchain is Ethereum which also can't scale in its current form. Those are the only two that have been used to the maximum of their capacity. All of the conventional blockchains have a hard limit. I dunno about DAG stuff and none of them have been tested in the wild. |
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Wubalubadubdub
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January 23, 2018, 08:25:35 PM |
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As you said, bitcoin was killed by more its high transaction fee so now people are moving from bitcoin to other coins that's why the price keeps falling.But it is just temporary problem and it can be solved to great extend if all people start to use segwit wallets then legacy.But the permanent solution will be the implementation of lightning network.
Is the lightning network going to be implemented at all? And if yes, then when and under what conditions? |
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peterthegreat
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Presale is live!
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January 23, 2018, 08:26:52 PM |
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This is a big problem. Segwit and lightning should help.
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allthebitandbobs
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January 23, 2018, 08:28:46 PM |
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there making to much money why would the miners change things .Until they is a uproar and nobody uses bitcoin because of it nothing will happen
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gentlemand
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Welt Am Draht
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January 23, 2018, 08:29:47 PM |
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Is the lightning network going to be implemented at all? And if yes, then when and under what conditions?
It's on the mainnet in a reckless and experimental form right now. Don't expect any type of formal roll out. It's being worked on by multiple teams and will take quite some time to smooth out. |
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btctalk123
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January 23, 2018, 08:32:06 PM |
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Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.
They need to fix this asap before all this shit gets out of control. It has been more than 10 days since i do not use bitcoin because i do not want to spend more than $15 just for the fees, but yes, it is innevitable after all. Anyway, they are not soooo expensive. |
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