You are viewing a single comment's thread from:
RE: Bitcoin (BTC) Evening Update: We are NOT Crashing, It's a Correction!
So much spam on the btc network
Bitcoins transaction fees are at an altime high with a large number of unconfirmed transactions. I had to pay $7,60 to move $50 of BTC around. A proposal to increase the blocksize by just 1MB was rejected by non segwit2x supporters. I can't imagine the reason why they would not embrace a temp solution while they work on the lighting network.
All part of the war on btc.
This is not part of the war on BTC but a war on how to move BTC forward from its incompetency to handle faster transactions vs the greed and lack of vision of some members who have significant influence on the BTC network and community.
100% true. https://blockchain.info/unconfirmed-transactions
Bitcoin doesn't even have the best developers. They wasted 2 years on a stupid block size debate. I actually ended up writing how to solve the centralization problem: https://steemit.com/cryptocurrency/@vimukthi/bitcoin-fees-triple-under-a-week-while-dash-makes-itself-10-times-cheaper-my-discovery-of-a-secret-device-to-store-the-entire
The secret device I mentioned is a simple pen drive from Kingston. You could store the entire BTC blockchain in a pen drive and swallow it if you want.
The current number on unconfirmed Tx can be simply handled by Bitshares in few seconds. BTC has become nothing but a store of drama.
Iam not wedded to either side but you present a simplistic view of things. Segewit 2x was not without its own serious issues and implementing it without replay protection meant that anyone who used it risked losing the corresponding btc. If it was an instant replacement it could have succeeded but as it was it would have ended up just another alt coin.
What I'm criticizing is their inability to let go of 1MB blocks. How come extra 50GB of storage a year became a massive civil war? This is why I gradually got sick of BTC. It's just so much fuss over 50GB. That's $20 for an extra pen drive or SD card. So much hate, censorship and fighting over spending extra $20 a year. A movement based on saving $20 a year. Death threats because $20 a year is going to make things centralized.
Dash handled the situation with maturity. Long time ago they voted on the issue. I hours they were set for 400MB blocks, near zero fees and transactions faster than VISA/MasterCard.
You know a project is done when there is a war to save $20 of extra expenses. That's just slightly over a one transaction on the blockchain:https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m