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Author Topic: What is the Reason BTC must be so slow?  (Read 515 times)
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May 08, 2021, 11:26:07 AM
 #61

One confirmation in Bitcoin is worth more than the security assurances of ALL shitcoins.

Yup. I like showing newbies the site https://howmanyconfs.com, which shows just how insecure some altcoins can be. The next time someone speaks about how "fast" Bcash is, you can remind them it takes almost 300 Bcash confirmations over several days to be as secure as 6 bitcoin confirmations. Also explains why most altcoins have been successfully 51% attacked.


Plus shitcoins are OK to be 51% attacked because they don’t truly matter. They can surge back up in price and traded for profit, but not Bitcoin. Bitcoin is the leader, “the king”, if it is successfully 51% attacked, it will be a symbolic failure of the feasibilty of cryptocurrency as an alternative to traditional finance.

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May 08, 2021, 12:08:25 PM
 #62

Plus shitcoins are OK to be 51% attacked because they don’t truly matter.
Most of the time the people buying these coins either don't understand the significance of these coins being successfully 51% attacked, or maybe they just don't care. Take this thread as an example. People talking about using XRP or BNB because they are faster without realizing these coins are centralized, and the risks that this brings. Just like people who buy Bcash because it is cheaper, turning a blind eye to the fact that Bcash miners have reversed transactions in the past because they disagreed with them.

If I want to give up security, decentralization, censorship resistance, etc., in return for speed, then I'll just use fiat. At least if the bank reverses my transaction, I can phone them up and figure out the problem. If a bunch of Bcash miners decide to reverse your transaction, then there is nothing you can do about it.

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May 08, 2021, 04:42:56 PM
 #63

What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!

All those will be fixed with time,but also note that the awareness increases on the daily and a lot of people are using it now,since there are more patronizers or users now,one might be observing a little daily from time to time before it will be completely fixed
The lightning network is going to help with that but right now there are not many places where you can use it, we must recognize that on-chain transactions are always going to be expensive which is why the second layer was created to help alleviate this problem, it is going to take time but this is going to get resolved, it is as if people still forget that bitcoin is a project in progress and that it will take some time to fix the problems the network is facing right now.



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[15.00000000 BTC]


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May 08, 2021, 11:58:51 PM
 #64

Congestion in the network has always been the reason why it is slow which means that more than enough people are on it and the design capacity was not meant to carry more than 7 transactions per second

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May 09, 2021, 09:12:01 AM
 #65

The reason is simple in fact. The number of people who make transactions on the BTC network has increased at a very high rate in the recent times. It caused the transactions to be slower than ever and also fees have become much higher than before.

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May 09, 2021, 09:36:44 AM
 #66

A centralized chain such as the smart-chain may be cheaper in terms of fees and faster in sending count between addresses but comes with its vulnerability which is it's not decentralized and can be traced and the owners can do whatever they wished with your fund in the wallets.
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May 10, 2021, 06:45:37 AM
 #67

Plus shitcoins are OK to be 51% attacked because they don’t truly matter.
Most of the time the people buying these coins either don't understand the significance of these coins being successfully 51% attacked, or maybe they just don't care. Take this thread as an example. People talking about using XRP or BNB because they are faster without realizing these coins are centralized, and the risks that this brings. Just like people who buy Bcash because it is cheaper, turning a blind eye to the fact that Bcash miners have reversed transactions in the past because they disagreed with them.

If I want to give up security, decentralization, censorship resistance, etc., in return for speed, then I'll just use fiat. At least if the bank reverses my transaction, I can phone them up and figure out the problem. If a bunch of Bcash miners decide to reverse your transaction, then there is nothing you can do about it.


It’s OK for anyone to use ANY cryptocurrency for their requirements, but to say a shitcoin is “better” than Bitcoin because it’s simply “faster”, is a mistake, and has shown that the poster has not done the proper research YET. Although, maybe Bitcoin overshot the security requirements to become a reliable cryptocurrency, it’s still better to over-shoot security than under-shoot.

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May 10, 2021, 07:05:11 AM
 #68

What is the Reason the BTC Transactions are Still slow.  And Even that expensive also.
Bnb and xrp Nice cheap and smooth.

And ETH is Not cheap to send but at least its fast.
But erc 20 tokens...  Like USDT its stupid and insane how high are fees!! 

What is the Main Reason the BTC creators Can't fix that Old stupid problem? 
I m Kind of person I Want quality of everything. 
And no time for bs.

Maybe the buterin and binance owner Can teach satoshi and garlinghouse how to make Better coin in terms of speed!!
BTC is like a coin that doesn't need any development but is always needed by others. if you are not happy with BTC maybe you can leave BTC and switch to BNB or ETH as you say.

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May 10, 2021, 11:41:03 AM
 #69

Bitcoin transfer times can take as little as 10 minutes to hours, days, or even more than a week. This is mainly because miners have to verify the transactions, and the network can lag sometimes.
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May 10, 2021, 11:46:01 AM
 #70

You need to consider the good things even though bitcoin transactions possess that kind of attribute. There are some good things about it and if you want to get as fast as possible the only way is either you guys trade in the known exchanges or you need to pay a higher fee for a transaction. But the good thing about bitcoin is, it still decentralized and it means, no one can interfere with your bitcoins and your transactions except you. Unlike the coins you are talking about, one move from its creator and they will all dissapear from your wallet.

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May 11, 2021, 04:46:40 AM
 #71

You need to consider the good things even though bitcoin transactions possess that kind of attribute. There are some good things about it and if you want to get as fast as possible the only way is either you guys trade in the known exchanges or you need to pay a higher fee for a transaction. But the good thing about bitcoin is, it still decentralized and it means, no one can interfere with your bitcoins and your transactions except you. Unlike the coins you are talking about, one move from its creator and they will all dissapear from your wallet.
I think everything that is wanted to be done quickly has consequences that must be paid, in order to get the what we want . It is only natural that with the high present value and large enough traffic, something will happen which will be disturbed by everything we are going to do.

but as long as the transaction we do is safe, of course we will use it, even though it seems a bit expensive and slower.
it could be that we give more costs to be even faster so it depends on us too.
but it is not the main thing if we believe that what we are going to transact can be guaranteed its safety compared to us using others that we cannot necessarily get.

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May 12, 2021, 04:20:08 PM
 #72

It’s OK for anyone to use ANY cryptocurrency for their requirements, but to say a shitcoin is “better” than Bitcoin because it’s simply “faster”, is a mistake, and has shown that the poster has not done the proper research YET. Although, maybe Bitcoin overshot the security requirements to become a reliable cryptocurrency, it’s still better to over-shoot security than under-shoot.
That just shows a lack of foresight, people for the most part only care about their particular problematic and whichever coin can solve it on the best way possible is the best coin on their mind, they do not understand that a lot more is needed to declare a cryptocurrency to be the best and it is obvious that bitcoin is the best coin out there and it is not even close, now without a doubt the issue of the confirmation speed can be a problem sometimes but it is just something that happens occasionally and you can avoid it most of the time.



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[15.00000000 BTC]


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Rainbot
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