Why btc still slow and expensive ?

[cr1776]

HI,
You might consider reading a lot more about the tradeoffs between POS and POW, and also reading about layer 2 solutions etc which can improve throughput.  These have been discussed many, many, many times both here and elsewhere.  POW is a feature vs POS for example.  ;-)

[Dr.Bitcoin_Strange]

@OP, Bitcoin is not slow and the transaction fee is not also expensive, 3 days ago I did some Bitcoin transaction, the fee that was charged was $0.8 and didn't take more than 20 minutes to arrive. You can not compare Bitcoin transaction to that of other centralized altcoins whose daily transaction volume and value is not even half of Bitcoin daily transaction.

[legiteum]

Bitcoin was intentionally designed to be slow and expensive because that is the only way you can make a fully decentralized network more secure. If there was some way to make Bitcoin faster/cheaper, then the core devs would "fix" this because it would be a bug.

The reason is based on an absolute architectural tradeoff wherein you can only choose two of the following three factors at once:

A. Decentralization
B. Speed / efficiency / low cost
C. Security

Bitcoin's tradeoff if A+C, as it is with some other cryptos like Monero.

Most other cryptos like ETH and SOL etc. choose B+C (but in a way that pretends to be A).

Legiteum is a "pure" play for B+C that doesn't pretend to be anything other than what it is.

[mindrust]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Bitcoin is processing more transactions than any other “decentralized” crypto out there. If there is another crypto that claims to process more transactions, then it certainly isn’t a decentralized crypto currency. It is probably just another centralized database that can process billions of transactions per second like visa or mastercard.

Bitcoin can get fast and cheap but then it would lose its decentralized nature which is the whole point of using bitcoin.

If bitcoin is slow and expensive to you, you can always use litecoin and dogecoin.

[EFS]

Bitcoin is not slow, it's not expensive either. Right now, you can send $1 million with a fee of only $1-2 and it takes at most 1 hour to reach the other party. The security of the money is more important than its speed. It doesn't make sense to use an insecure blockchain just to make it go very fast. This may vary depending on your use case. For micro-payments, you can use other fast altcoins like Tron or Doge. However, I wouldn’t trust these coins for wealth preservation.

[Saint-loup]

BTC doesn't allow to use and create smart contracts either or very basic ones unlike most other popular blockchains unfortunately, and its layer 2 network (Lightning Network) is way less easy and reliable to use than most of other cryptos. So I think BTC will lose dominance and market shares step by step in the coming years when people will start to really use cryptos for paying and doing things, instead of just holding them in their wallets or on exchanges. When transaction fees spike a bit, onchain BTC become useless for small transaction, while for fast ones it is already out of date unfortunately.

[Sandra_hakeem]

This may vary depending on your use case. For micro-payments, you can use other fast altcoins like Tron or Doge. However, I wouldn’t trust these coins for wealth preservation.

Which is actually the reason why the majority prefers Bitcoin to 'em shit coins.. somebody saying "it's wayyy too slow, and sometimes, it could be bumpy that the transactions gets stacked up in the mempool, you gotta wait for days for a confirmation"
Truth is, we've got a couple of other ways to purge a transaction, why are they not informed? ..   Because they in a haste to make some bucks, but they don't wanna learn.

I mean I got my transaction stuck in the mempool a couple of times, but the first time it happened, I had to create a thread in here...  So, I don't understand why people go into things they don't really know. I mean, I did the same thing but the difference was that I was able to accept the fact that I was dump and needed a alot of orientational grooming.
Op sounds like he's been a bit frustrated through the process, but that's no one's fault but his.

[tabas]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc

Been hearing this for years. "BTC sucks", "BTC's fee too expensive" "BTC's speed is too slow".
Do not compare BTC with any other altcoins that you think is faster than it. Given that feature is faster but Bitcoin nowadays is more of an asset and a store of value.

Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

The devs are there and, you said BTC to POS? Come on, BTC isn't premined unlike those altcoins that has been premined by the devs of it. Never compare that to any altcoin.

[ChiBitCTy]

Well, just like with anything, Rome wasn’t built overnight. It took the cypherpunks how long just to solve the double spending issue.  I mean, that was the key hangup for I believe a couple decades. So it just goes to show how difficult it is to build code/cryptography in an efficient manner. I think we have a good dev team, but yeah, it does seem like It’s taking its time

[BALIK]

@OP, Bitcoin is not slow and the transaction fee is not also expensive, 3 days ago I did some Bitcoin transaction, the fee that was charged was $0.8 and didn't take more than 20 minutes to arrive. You can not compare Bitcoin transaction to that of other centralized altcoins whose daily transaction volume and value is not even half of Bitcoin daily transaction.

We should be realistic that when it comes to fees and transaction speed, bitcoin cannot compare to other altcoins even when the bitcoin network is at its best. But everything has its price, bitcoin is slower, more expensive but in return we will have a more decentralized, safe and secure network. Meanwhile, altcoins are faster, cheaper but they are centralized and less secure. There have been many altcoins hacked, outages but that never happened with bitcoin.

Everything has its price and nothing is 100% perfect, and as smart users, we need to be flexible in choosing each asset for each different use case.

[Darker45]

I guess it's true that we can't have the best of everything. There will be trade-offs. But comparing Tron with Bitcoin is like comparing shit with honey, respectively.

But, yeah, altcoins have roles to play in the crypto universe. If you want dirt cheap fees and almost instant confirmation for your small transactions, then there's a wide array of options out there. Tron isn't even at the top.

But if you talk of shifting to PoS because you don't trust miners, who do you trust? The whales? Many of them don't share the vision of Satoshi. They're fiat guys making money out of Bitcoin.

[hero_the_bossman]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc

You are wrong.

I just made a very large transaction this morning, and the fee was less than 50 cents.

Fees don't have to be fractions of a penny for transactions to be feasible. For most small players, it's fine. And the whales and big movers have the money to cover the fees for their (very large) transactions.

Fees only spike due to some events (Runes being in full swing) / due to the Bull / etc.
Otherwise - the fees are totally fine in my book.

[ABCbits]

Very simple, because bitcoin prioritizes security over speed. That is why bitcoin has never been hacked.
You pay more for the miners to secure the network, which to me is more than worth it. As the saying goes, you get what you pay for.

Ethereum and the other shitcoins on the other hand, have been hacked countless times losing untold billions of dollars to hackers.
If you want cheap and fast, then don't expect a lot of security, and be prepared to lose all your funds.

Are you new to Bitcoin? Here are some notable events in its history that Bitcoiners often reflect on: 

Bitcoin Inflation Bugs:
🔴 CVE-2010–5139 Bug (August 15, 2010):
This bug resulted in 184 billion BTC being minted. To address the issue, core developers Gavin Andresen and Satoshi Nakamoto rolled back the blockchain, removing the transaction from block 74638. 

🔴 CVE-2018–17144 Bug (September 17, 2018):
Discovered by a Bitcoin Cash (BCH) developer, this bug was fixed before it could be exploited by malicious actors. 

ref: medium.datadriveninvestor.com/itcoin-unhackable-it-happened-twice-not-blowing-smoke-9e16bcddd5ab

Downtime Events: 
Bitcoin has experienced moments of downtime during its history: 

🔴 August 15, 2010 (The Value Overflow Incident):
Bitcoin went down due to a critical bug (CVE-2010-5139), requiring swift action to secure the network. 

🔴 March 11, 2013 (CVE-2013-3220):
This downtime was caused by a different bug, highlighting the challenges in maintaining the network. 

ref:bitcoinuptime.com

By comparison, only BNbitcoin and Litecoin, have 100% uptime and no hacks.

Stop spreading inaccurate information. None of them allow direct hack to Bitcoin protocol/blockchain.

1. Solution to fix CVE-2010–5139 isn't rollback, but rather using new version of full node software which reject the invalid block. There's no code addition which enable rollback.
2. CVE-2013-3220 only affect Bitcoin-Qt (former name of Bitcoin Core). While it cause some block to be invalidated, it doesn't enable hack.
3. CVE-2018–17144 only affect Bitcoin Core software. Other full node software would detect the double-spend attempt and reject the block. In addition, some mining pool probably use their own custom full node software.

Some of those CVE also affect Litecoin, since Litecoin Core use Bitcoin Core's code. And any token/coin which use BSC network can't be decentralized, when BSC itself isn't decentralized.

[MainIbem]

I guess it's true that we can't have the best of everything. There will be trade-offs. But comparing Tron with Bitcoin is like comparing shit with honey, respectively.

But, yeah, altcoins have roles to play in the crypto universe. If you want dirt cheap fees and almost instant confirmation for your small transactions, then there's a wide array of options out there. Tron isn't even at the top.

But if you talk of shifting to PoS because you don't trust miners, who do you trust? The whales? Many of them don't share the vision of Satoshi. They're fiat guys making money out of Bitcoin.

I see no reason why anyone would even want to compare Bitcoin with any other cryptocurrencies out there, Bitcoin is second to none and even though the transaction speed might not be very fast compared to the likes of Tron, Ton, Sol or so that got cheaper Tx fees, the security of Bitcoin blockchain is second to none and that's what makes it unique, I'm surprised that of all cryptocurrencies the OP chose Tron over BTC, because of Tx fees? He's not even bothered about the safety of his asset, he's not even bothered about the value of Bitcoin compared to Tron, Bitcoin has developed into something spectacular it's now in the assets class due to it's value, it's the future of financial freedom and not even those big whales that's currently making more wealth out of it would consider any other coin to Bitcoin, if Tron was that special as the OP thinks why ain't their big whales investing on it? Why do they fall back to Bitcoin for investment purpose? The least thing that would make me consider POS over POW is Tx speed and I'll choose bitcoin anytime regardless.

[Fivestar4everMVP]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Having used both Tron and bitcoin, sorry to say but I think Tron is one of the worst and most expensive blockchains to transaction on, forget every deceptive stuffs people say about Tron, I have used Tron blockchain for several years but in that second quarter of this year, I angrily decided to sell every single asset I had on Tron and swore never to touch or buy anything that is built on Tron.

Bitcoin is doing well, and stop dreaming when bitcoin will go pos, that will never happen as far as I know.
And as for the fees and speed, this two have always depended on how free or congested the network is, in times of congestion, fees go high and transactions confirmation becomes slower, in times like this, it is advised to choose and transact in alternative cryptocurrencies, so as to avoid having your fund stuck on the network for too long without confirmation or paying exorbitant fees.

[fikrett]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Having used both Tron and bitcoin, sorry to say but I think Tron is one of the worst and most expensive blockchains to transaction on, forget every deceptive stuffs people say about Tron, I have used Tron blockchain for several years but in that second quarter of this year, I angrily decided to sell every single asset I had on Tron and swore never to touch or buy anything that is built on Tron.

Bitcoin is doing well, and stop dreaming when bitcoin will go pos, that will never happen as far as I know.
And as for the fees and speed, this two have always depended on how free or congested the network is, in times of congestion, fees go high and transactions confirmation becomes slower, in times like this, it is advised to choose and transact in alternative cryptocurrencies, so as to avoid having your fund stuck on the network for too long without confirmation or paying exorbitant fees.

What was the last straw on TRON for you? It would be interesting for me to hear your story and what pushed you so far.
Never used it though - never had a wish for that.

[dansus021]

if you said that tron is better than bitcoin use that tron for your transaction as simple as that here is the thing

do u ever heard the blocchain trillema "The blockchain trilemma refers to the challenge of achieving three critical aspects of blockchain technology: security, scalability, and decentralization. The trilemma suggests that optimizing one aspect often compromises the others, making it difficult to achieve all three simultaneously." https://www.coinbase.com/learn/crypto-glossary/what-is-the-blockchain-trilemma

Bitcoin is focusing on security and decentralization while the tron focus on scalability

[john_egbert]

if you said that tron is better than bitcoin use that tron for your transaction as simple as that here is the thing

do u ever heard the blocchain trillema "The blockchain trilemma refers to the challenge of achieving three critical aspects of blockchain technology: security, scalability, and decentralization. The trilemma suggests that optimizing one aspect often compromises the others, making it difficult to achieve all three simultaneously." https://www.coinbase.com/learn/crypto-glossary/what-is-the-blockchain-trilemma

Bitcoin is focusing on security and decentralization while the tron focus on scalability

You nailed it.
And each chooses what suits him best.
For some - fees and sheenanigans on TRON make it a case long gone (like for Fivestar4everMVP).
So he got rid of it and is happy. So should do everybody else making up their minds on both.

[Zigabel]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

The slowness of BTC you are referring to actually depends on you to an extent and that is because for every Bitcoin transaction,  there's a fee you pay and such fees also has a connection  with the speed of the transaction so you cannot  completely blame it on bitcoin itself but rather you  will  have  to understand that even the tron transactions do come with a fee aswell which  in a way affects the speed of the transaction and if ygvwt to check the meme pool,  you get an idea into the fees applicable for instant payment and scheduled payment,  it's all dependent and relative to you, so actually bitcoin has got an instant payment option but you will have to be able to afford it and this actually  applies to every financial transactions.

[BIT-BENDER]

Why still haven't improved? Btc still slow and expensive to send transactions and for sure time like tron has you know that transaction allmost instant wich not the case with btc
Whos fixing that and what could be improved ? And when btc to POS so we don't depend of miners i don't think i want to or trust put my hard earned wealth in mercy of miners,well that's just me i like everything to be perfect and secure but ye btc slow still tron is way better

Miners has been able to clear huge Bitcoin transactions for years now so I wonder what transaction you talking about not trusting with miners. In between I just finished a Bitcoin transaction and the transaction was confirmed in a good time range, this has been the case for me this period I have not experienced any delay. I won't jump into conclusion to doubt you but I can vividly say that their has been lots of improvement on the time required for a transaction to go through. In between if you aren't aware you should research on bumping transaction fees