You guys seeing this shit?
- Thread starter bartosimpsonio
- Start date
D
Deleted member 969102
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This isn't true. Like I said above, it's just because of the drop in hash rate.
The mining difficulty is related to the total hash rate of the network, it just takes a week or so to be accurate.
https://blockchain.info/charts/difficulty?timespan=2years
https://blockchain.info/charts/hash-rate?timespan=2years
Scalability is not an issue, but it becoming a more centralized currency is a big issue:
- Mar 10, 2010
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deal with it
Senior Member
- Sep 30, 2015
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i read title as "you guys buying this shit".
Close enough.
Close enough.
Gr33nArrow
Newbie
- Nov 8, 2017
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bitcoin block size is limited to 1MB.. i think you should create coin with scalable block size
RightFootFanatic
Regular Member
- May 31, 2015
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Don'T do it @nitrogram - you might geht burnt, move out of your body or end up with a melon. the last one might be great if you're into melons
- Nov 12, 2012
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Blockchain Address : https://blockchain.info/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r
You can refund me only the last unconfirmed order transaction. Leave the rest.
PinguSpy
Elite Member
- Dec 7, 2007
- 3,085
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bitcoin block size is limited to 1MB.. i think you should create coin with scalable block size
I got a better solution.
fk blockchain
everybody use "tangle" technology just like IOTA
https://www.reddit.com/r/CryptoCurr..._transactions_per_second_how_do_we_get_there/
- Feb 23, 2011
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As others mentioned, the backlog resulted due to BTC losing a large portion of its hashing power (miners) to BCH last week. Granted, even without hashing power swings, BTC has some serious scaling problems at the moment. The core developers also do not believe that on-chain scaling solutions, such as increasing the blocksize limit (which the proponents of BCH are in favor of) are the way to solve these scaling problems due to many potential problems that come with larger blocksizes. They are currently working on an off-chain scaling solution called Lightning Network which in theory should be able to handle the same volume of transactions as Visa/Mastercard. The problem is that this solution is some time away from being fully implemented and used, while the scaling problems present real issues today.
Too late for other crypto currencies. Bitcoin BTC is seen as the "store of value" blockchain. This starts to be cultural, and nothing can beat that. On each crisis (BCH, Bitcoin gold, 2X etc.) this feeling is reinforced in the mind of people.
Bitcoin is perfectible, but people starts to buy its resiliency. Think about it. Which crypto is the most resilient? This is the fight lost by Ethereum.
Bitcoin is perfectible, but people starts to buy its resiliency. Think about it. Which crypto is the most resilient? This is the fight lost by Ethereum.
- Feb 23, 2011
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I am a firm believer in Bitcoin but this shift in mentality lately where people went from saying its a peer to peer decentralized currency to it being a store of value (digital gold) is very alarming.
Bitcoin's current value is derived from speculation that it will eventually become a mass-adopted decentralized digital currency, with all of the benefits that come with that. In order to accomplish this it needs to be easy to use and support a large amount of transactions and users, with reasonable fees and transaction times. If it stops pursuing this goal or fails in its endeavor to accomplish it, it will no longer have any inherent value at all.
I really wish people would stop spreading this "store of value" narrative. It does nothing for the future of Bitcoin.
This is what most of people think, but it is only partly true. Many investments have been made to escape the current banking systems, in several (most?) countries. This is not only speculation: this is an escape from the banking system.
The real benefice for investors (rich ones) to buy Bitcoin is to store value outside political and usual economical games. This point precisely is under-estimated in the current evolution of Bitcoin. Investors buy more the safety of the bitcoin, the resiliency, decentralization, and the virtual aspects, as they know perfectly that in one shot, one political guy in their country can just cut their investments by two through a new law.
I am pretty sure that if tomorrow Bitcoin release a new security feature, it would have more value than implementing any other new feature. Banks are not safe, central ones neither, and politics are not stable. We have conflicts everywhere, laws against privacy, and a big attack ongoing on tax heavens. Bitcoin is just seen like that by big investors: a new way to diversify and to preserve the capital on the long-term, in a sustainable way.
- Feb 23, 2011
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This only works because Bitcoin is currently a deflationary "currency". But the reason it currently has this characteristic is precisely because of the potential it promises several years from now - that of a globally adopted fast decentralized currency. I am certain that if the core development team announced tomorrow that scaling solutions are no longer a priority and the current status quo is "good enough", it will never see another ATH and will bleed market share to other cryptocurrencies that seek to do what Bitcoin set out to do from the start.
While this is currently definitely a significant selling point of Bitcoin, I feel it is extremely exaggerated. It will not mean anything if Bitcoin does not deliver on the idea set forth by Satoshi, which I explained above. There is no inherent value in it being simply a store of value. Without the properties of a functional currency, it becomes completely worthless.
- Feb 23, 2011
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Where do you see 700k unconfirmed transactions? We are currently at 100k transactions in the backlog. You can see this here:
https://blockchain.info/unconfirmed-transactions
Rich people do not care about fast transactions. They already can do them. The background problem is that Bitcoin is becoming the investment support of rich people. Paying 10$ per transaction or waiting 10 hours for 3 confirmations: not a problem. There need? Put some millions outside the system, trust the protocol, and be certain to be able to find their money when needed, several years after.
Sorry, I am agree with you but if you think about it, this is a fact: BTC is slowly transformed to a massive money support for big players.
The good news: it is now probable that most of rich people will put 1 or 2% of their fortune on the bitcoin, as this is the most trusted crypto currency. 7000$ is still nothing.
IMHO, this is wrong. The support to store of value is what is over looked by people having the money. This is their problem, their main problem. They do not know where to store their values, they buy arts, they buy real estate, they buy company shares, they buy gold... They do not expect to win money on buying gold or buying arts, this is only their second priority.
When you have money, your first priority is to secure it by diversifying, and by avoiding an unexpected law, crisis, war, or any other situation.
For that, Bitcoin is an excellent investment.
