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Author Topic: Solution to high rates? Maybe not, but it's an idea...  (Read 344 times)
joker_josue (OP)
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December 27, 2023, 10:48:52 PM
 #41

If you have the 5 BTC or more stored offline putting in 500 in cash and doing kya does not reveal much about you.


Now if you have 0.2 btc or less it is more of an issue.
also if there is not an exchange you can use LN on with KYC it is an issue.

and keeping $500 on an exchange if you have only 0.2 BTC total is a bigger loss if there is a fuckup..


ie 500/8600 is about 5.8%  loss while

500/215,000 is only 0.23% loss


the question is how many with 0.001-0.200 btc are getting crushed by this.  I do not know

Well, things are, they put BTC only to be used by tycoons/rich people.
Honestly, I think this is a little unfair, because I see the necessary potential for BTC to serve all types of people, with many or few resources. I think it makes no sense to make BTC an elite currency. Well, this will not help with its adoption.



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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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philipma1957
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December 27, 2023, 10:57:25 PM
 #42

All ideas that have been given and suggested are redundant and there is no effort from the developers to coil the situation though I will not know if they are trying their best behind the scene. And all what we need right now is the solution and not any suggestions and ideas. The developers know what to do stop this maladies because they are in control of the system. And this high transaction fee is really affecting everyone both the investors and traders and all the people that use Bitcoin for transactions.

And as I said before, Bitcoins are stuck in wallets because this. Though it might help some to save their coins.

that's because you want btc to be big and small at the same time.

it is not about work arounds like I listed above.  In your case it is about wanting the impossible.

Ay least it can not be done with code. This is an infrastructure or second layer problem.

Every wallet for btc needs an easy to fill LN wallet. That is not going to be fixed with code.

Why do you think dev have not done anything. They will wait to see the effect of 3.125 coin rewards and 3 coin fees before anything happens.  SO the fix you think code can do will not be attempted until June or July. of 2024

So high fees until then are certain.


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franky1
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December 28, 2023, 05:44:47 AM
Last edit: December 28, 2023, 05:55:26 AM by franky1
 #43

All ideas that have been given and suggested are redundant and there is no effort from the developers to coil the situation though I will not know if they are trying their best behind the scene. And all what we need right now is the solution and not any suggestions and ideas. The developers know what to do stop this maladies because they are in control of the system. And this high transaction fee is really affecting everyone both the investors and traders and all the people that use Bitcoin for transactions.

And as I said before, Bitcoins are stuck in wallets because this. Though it might help some to save their coins.

that's because you want btc to be big and small at the same time.

it is not about work arounds like I listed above.  In your case it is about wanting the impossible.

Ay least it can not be done with code. This is an infrastructure or second layer problem.

Every wallet for btc needs an easy to fill LN wallet. That is not going to be fixed with code.

Why do you think dev have not done anything. They will wait to see the effect of 3.125 coin rewards and 3 coin fees before anything happens.  SO the fix you think code can do will not be attempted until June or July. of 2024

So high fees until then are certain.

this issue CAN be solved by code.. because thats all that bitcoin is, is code. and code can be changed and re-arranged and exploits patched and bugs fixed. thats the beauty of code.

however core devs are not waiting for the halving..

they are waiting until the deadline of their sponsored contract expires.
they were paid to do crap things that benefit corporations more than the bitcoin community.

its been seen many times before

they dont want to stop the open door policy of unconditioned opcodes. because the previous need for network readiness nearly threatened them losing a sponsored contract years ago, they want open access to do as they please using the exploit to change things without network node readiness.. they have failed in their responsibility to secure the network.
until their sponsorships dry up they will continue to keep things open and manipulatible as it helps them make a quick income doing what corporations pay them for. they wont grow morals until its no longer financially advantageous

they wont care about bitcoiner needs, nor bitcoins "experiment" longevity. in their mind as long as someones paying their salary they will take whatever bullshit it thrown at them to keep their salary flowing and just treat bitcoin as an "experiment" where they dont care if it fails. they just get paid to be "scientists" doing experiments and get paid even if it fails

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
ABCbits
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December 28, 2023, 08:42:11 AM
 #44

--snip--
The problem, we can say, is when mass adoption is done.
10 years ago, no one thought of having this level of transaction fees. With the same line of reasoning: we will want to adopt BTC.

I wouldn't worry about it. With many possible route option, i expect some LN node operator will set fee as low as possible (without running at loss) in order to see some transaction routed through them rather than almost nobody doing that.

At least I don't see that the LN solution will really solve the issue of fees, because this network has low fees today, due to low adoption.

Or rather, LN alone isn't enough to solve issue about fee and TPS.

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