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/biz/ - Business & Finance


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File: 361 KB, 1573x730, icedragon_N2gGRMF1w8.png [View same] [iqdb] [saucenao] [google]
14399283 No.14399283 [Reply] [Original]

74,000 unconfirmed transactions and skyrocketing

https://www.blockchain.com/btc/unconfirmed-transactions

>> No.14399295

>>14399283
What does it mean

>> No.14399308
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14399308

>>14399283
Satoshis shotgun

>> No.14399312

>>14399283
no mohammed in germamy tier leeching in the new financial system. those who cant afford to pay the toll to utopia may starve to death with their 0 fee tx staying in the mempool forever.

>> No.14399323

>>14399308
big if true

>> No.14399330

>68.6 tx/minute
lmao

>> No.14399338
File: 208 KB, 750x1036, 6509D842-359C-42AF-8D96-58E135B6BF09.jpg [View same] [iqdb] [saucenao] [google]
14399338

That means 20 dollars per TX is soon

>> No.14399341

Tfw When miners are under one people's army.

>> No.14399354
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14399354

>>14399338

>> No.14399364

>>14399283
means people are sending their corn to sell on exchanges,,,,

>> No.14399371
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14399371

>>14399312

>> No.14399400
File: 88 KB, 750x634, 26BC6C0D-B19D-4ED6-9505-92C0A8BC74A1.jpg [View same] [iqdb] [saucenao] [google]
14399400

Look at it go, based Craig blocking up the network with the shotgun

>> No.14399427

>>14399283
Lmao everyone is rushing to cash out while it’s near $12k rather than face another interminable crypto winter

>> No.14399462
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14399462

>>14399283
Imagine falling for SegWit meme.

Corecucks btfoed tomorrow true bitcoin. Bitcoin SV

>> No.14399467

It's obviously getting spammed by low sat transactions maliciously, the network usually runs at no more than 10 tps, why the sudden 14x increase?

>> No.14399469
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14399469

reminder

>> No.14399485

>>14399467
Satoshis shotgun
Get stiffed

>> No.14399486

>>14399283
That means that we are mooning and we will clear the mempool during the weekend.

>> No.14399489

>>14399354
The tx fee peaked at 40 dollars in December 2017 which isn't a meme by any means

>> No.14399505

>>14399489
I know I’m not new, I think I paid like $60 or more for one back then

>> No.14399525

>>14399295
it menas bitcoin is a piece of shit and people should start using BCH

>> No.14399530
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14399530

>>14399400
100k eod

>> No.14399533

>>14399371
the market has spoken and you will end on the wrong side of history choking on your bsv bags

>> No.14399541

>>14399283
>zoom out dipshit

>> No.14399542

>>14399283

Well, at least people are using Bitcoin to transfer value around the world.

Can't say the same for 99% of the shitcoins like VeChink.

>> No.14399556

>>14399489
Yes but there were 400k unconfirmed transactions.

We will be once again at 1sat fee transactions being confirmed by next week.
The difficulty adjustment and yesterday insanity have spammed the mempool.

Go check and you will see most transactions are 1 to 3 sat , people reorganizing their wallets without any worry about the speed that it will take.

>> No.14399570

>>14399542
Obviously Boomer coin isn't capable of that. Even wire transfers can be done cheaper and faster.

>> No.14399577

>>14399469
Very interesting. Price is so fucking high yet there's close to no public interest.
It must be the really big boys. Corporations.

>> No.14399582

>>14399467
core cope

>> No.14399589

>>14399530
Until 400k we are go for liftoff early next week to surpass the ath.

>>14399570
bullshit.

>>14399577
This big players must be entering we are literally going to 100k before eoy.

>> No.14399609

>>14399556
>dude it’s just how bitcoin is
>satoshi wanted small blocks himself, check latest video of ivan in tech

>> No.14399618

Over 80,000 now

How many transactions fit into a 1mb block?

>> No.14399633

>>14399467
it's not the fucking transactions it's the difficulty adjustment , the difficulty is at an all time high and the hashrate has to catch it to find 6 blocks per hour.

We been having less since the difficulty adjusted a few hours ago.

Also faggots don't use segwit wallets meaning they are overpaying fees like retards and using more space.
6 sat transactions have been confirmed an hour ago and some retard has been paying 5700 sat.

>> No.14399654

>>14399618
At full segwit we could do 800k tx per day , at current segwit adoption 430k maximum.
So on the average you could expect about 3000tx per block.

>> No.14399655

>>14399618
go to blockchain explorer and look for yourself retard

>> No.14399669

>>14399633
>just use segwit lmao

>> No.14399718
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14399718

>>14399633
>6 sat
If you can wait for 1 week of course

>> No.14399750

>>14399633
Yes, difficulty adjustment is definitely a part in this. Unconfirmed transactions being high already before the readjustment doesnt help. If the price were to drop lower and thus more hashrate temporarily leaving, would also not help. This is a thing with every longer price correction though.

SegWit adoption has been around 40% for over a year now and isnt moving much. Exchanges say they arent prioritizing implementation, but in reality they have every incentive not to implement SegWit. They want BTC to get clogged so people wont be holding it and instead running towards different alts every other week.

>> No.14399787

>>14399654

harmony one already did 118k TPS...aiming for 10mil...amazed that people don't get how big this is

>> No.14399798

>>14399750
Oh fuck off already.
All core had to so is just increase the block size without wiiggling with the protocol by practically destroying it.

Tell me that increasing block size doesn’t solve scaling and I will spit in your face and piss on your grave fucking retard

>> No.14399858
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14399858

>>14399798

>> No.14399869

>>14399798
The problem is exactly that the protocol stays completely unchanged. If it was hardforked, all exchanges would be forced to implement changes and stop clogging up the mempool.

>> No.14399890

>>14399787
>random shitcoin can do quadrillion tx/sec, I wonder why people don't care
Because it's not Bitcoin, retard.

>> No.14399901

>>14399798
Reasonable block size increase would definitely solve scaling. A lot of alts are going in the right direction with this. BTC mempool will on average get worse and worse from here.

There are two ways the mempool issue could resolve:
1) BTC block size gets increased (which will not happen)
2) Interest in making BTC txs dramatically drops. This would also lead to a big price drop. This is what started to clear the mempool in the beginning of 2018.

>> No.14399927

>>14399283
This is why Ethereum will flip Bitcoin

Enjoy your $20 fees

>> No.14399935

What an absolute shitcoin. 2 years and they haven't done shit to take care of this.

BITCOIN? MORE LIKE
SHITCOIN
H
I
T
C
O
I
N

>> No.14399986

>>14399869
>literally removes tx signatures calling it segwit
>literally removes 0 conf transaction by introducing. RBF
>core didnt change protocol lmao

the sooner you realize what bitcoin is the more money you will save

>> No.14399997

>>14399371
5dollas

>> No.14400008
File: 219 KB, 628x447, bitmex - clogged.png [View same] [iqdb] [saucenao] [google]
14400008

>>14399986
The problem with bitcoin is that its core protocol is set in stone. Thus, exchanges don't have to implement SegWit, optimize transactions, follow best practices etc. Hey, it's all by the original protocol! For the same reason the block size is not increased, it's "set in stone".

>> No.14400033

OH FUCK WHATS HAPPENING

>> No.14400045

>>14399935
Lightning, liquid, statechains, Schnorr, Taproot. BitcoinSanjeeV can hardfork and cause a massive chain reorg because no one is using it. If that happened on Bitcoin, people would lose their fucking minds. Off chain transactions are the only feasible solution.

>> No.14400060

>83,000

>> No.14400098

Literally EVERYBODY knows "core" is trash. In what way is BCH worse than core? Answer: none
In what way BCH is better? Answer: a lot
Even pajeet's vision is better than "core".
Lightning Network and segwit are just ways to make fucking money for blockstream. They don't really work. Nobody cares for them.

BTC will keep value anyway for a long time. Eventually it'll get surpassed by something better.

>> No.14400109
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14400109

It rocketed upwards from 80k to 85k in massive bursts

>> No.14400113

>>14400045
>opff-chain trasnactions are the only feasible solution
If they were actually good solutions that didn't involve profiting off people? Dude you literally need to pay to use lightning network. It's literally just another organizations of money-grabbing crooks. I don't buy it. LN just sounds like a bank the more I think about it.

>> No.14400134

>>14400109
look at the picture 5 posts behind you
BitMex just burned 100k USD in BTC txs fees

>> No.14400138

>>14399787
^This
In the long term, BTC just can't win.
It will be a store of value, yes, but for payments, never.

Something like Harmony or Libra will take over.

>> No.14400148

>>14400134
bitmex users paid for the transactions, not bitmex themselves

>> No.14400176

https://bitcoinfees.earn.com/

pay 203 satos/byte and you might not have to wait a week

>> No.14400178
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14400178

What a great system

>> No.14400181

>>14399295
It means allot of people are trying to get out, and get into Link before the tether Ponzi collapses

>> No.14400182
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14400182

>>14399858
>blockstream

>> No.14400206

>>14400113
You're thinking of Liquid, which is more of a B2B system (exchange to exchange). Lightning has no fees or any organization.

>> No.14400243

next blocks will get some good tx fee rewards

>> No.14400251

>>14400206
>Lightning has no fees

>> No.14400254

>>14399283
>The 4th industrial revolution

What a load of absolute horseshit

>> No.14400267

will this +50MB even get cleared during the weekend?

>> No.14400268

BTC NEEDS NANO.

>> No.14400286

>>14399654
No one will use segwit ever. Imagine having to bother not only learning how to use Bitcoin but also setting up a stupid node that doesn't even work if you are offline.

>> No.14400290
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14400290

88k

>> No.14400311

>>14400286
you are confusing lightning and segwit

>> No.14400327

>>14399901

Have fun protecting your network from inflation with 3 nodes

Fucking newfaggot

>> No.14400336
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14400336

>>14400286
You're confusing Segwit with Lightning, DOLT. Do your homework before posting.

>> No.14400354

>>14400311
Segwit is the retarded protocol, lightning is the implementation of said retarded horseshit.

Fuck off.

>> No.14400370

>>14400336
Fuck you stupid shill

>> No.14400379

89,000 more furious people on the planet. thanks bitcoin.
imagine being a heroin addict trying to get an order in right now. ooft.

>> No.14400395

Do you retards posting about high fees want a secure network with no inflation or paypal? Fucking christ /biz/ is full of retarded brainlets. But what do you expect with all the chainlink shills

>> No.14400400

over 90,000

>> No.14400403

Bitcoin loses a bunch users every congestion. Eventually some other coin will take over the shitshow

>> No.14400417

>>14399308
Just look at that chad. He will be the savior with BSV. Everything else is going to end up in the dumpster

>> No.14400432

#AltSzn

>> No.14400439

>>14399577
AHAHAHAHA keep dreaming. Enjoy seeing this shit sub 2k eoy

>> No.14400443

>>14399469
People know, how to fucking buy bitcoin now - no proof of anything.

>> No.14400457
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14400457

>>14400403
2GB blocks, instant transactions, proveably the way bitcoin was supposed to scale, I'm thinking it's BSV

>> No.14400476

now is the time to shill that 300kb blocksize decrease soft fork. lets go for $1000 fees on main chain

>> No.14400477

>>14400403

Good riddance. Go use paypal. We’ll be waiting for you to fomo back in at $100k

>> No.14400524

>>14400477
What will the fees be if BTC is at $100k?
$1000/tx?

>> No.14400529

>>14400457
2GB blocks that won't propagate unless all nodes are in a single data center, insecure 0conf, unproven about anything at all.. What's the point of these talks? Lots of alts address the scalability issue and have a much better branding than "Bitcoin Satoshi Vision the Dragon Logo Coin"

>> No.14400531

>>14400395
I want a digital currency to cuck the central banks. If I go to the flea market and hand some fucker 20 dollars for his old Elvis boomer record, I don't have to wait 8 hours for the cash to transfer. It will be right in his hand.

>> No.14400566

>>14399489
Dark times indeed

>> No.14400583

>>14399295
it means war

>> No.14400619
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14400619

90k Transactions. $40 meme fees soon. Eventually followed by massive choke and crash. Thank you based corecucks. Another bullrun wasted by nothing more than a small clique of several unfuckable neckbeards. If it wasn't for 50 dollar fees previous bull run wouldn't scare normies and could go to 50k minimum. MINIMUM.

>> No.14400624

>>14400531
You can't cuck the central banks by complaining over whose brand of crypto is more original and correct

>> No.14400703

>>14400529
>2GB blocks that won't propagate unless all nodes are in a single data center
Not true, big blocks give an actual economic incentive to upgrade infrastructure rather than mine on your raspberry pi, it's not hard you just have to spend money if you want to be competitive

>insecure 0conf
That's a myth pushed by BTC'ers who don't understand bitcoin, double spending is impossible with 0conf

>unproven about anything at all
Sustained 128mb throughput on main-net is proven

>Lots of alts address the scalability issue
Examples?

>and have a much better branding
What's better branding than being the actual real bitcoin?

>> No.14400726

>>14400531

Use lightning fucking moron

>> No.14400746

>>14400726
Point me to an exchange with lightning support

>> No.14400760

>>14400524

They should still be low assuming you morons adopt segwit and use lightning for transactions under $1000

>> No.14400772

>>14400619
Imagine trying to explain BTC to a normal person

Okay this is how you send money
You have to pay a fee
>How much is the fee?
about $5-$50, it depends
>Where does the money go?
it goes to a miner
>What's a miner
it's a guy with a computer who runs the network
>Isn't that stealing?

>> No.14400785

>>14399364
Is this a word filter or are people just using the word corn.

>> No.14400796

>>14400746

>point me to a website that streams HD youtube videos in 1992

>> No.14400797

>>14400772
Explaining BSV to a normal person

Okay this is how you send money
You have to pay a fee
>How much is the fee?
about $0.005 or half a cent
>Okay

>> No.14400826

>>14400703
No one mines on rasberries, dumbfuck, all mining pools & mining hubs are basically data centers. It still didn't help with your coin. Just stop your lies, kike. 0conf is completely insecure (unless you have something like Avalanche) and goes against the principles of the blockchain. BSV did not sustain ANYTHING because when it hit 100mb the whole network halted and had multiple reorgs in a row. "Bitcoin Satoshi Vision" with a dragon logo looks and sounds retarded, and you know that it can win the brand war even against NANO-tier altcoins.

>> No.14400836

>>14400796
Lightning isn't anything new. It's been under development since 2015.

>> No.14400863

>>14400836

And? Get lost brainlet

>> No.14400874

>>14400726
>lemme open muh payment channel
If there is more than one step beyond "what's your wallet, oh let me hit send", you've failed already.

>> No.14400901
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14400901

corecucks cope itt

>> No.14400921

>>14400863
If a software is under development for over 4 years while it's still unusable then it's a proven failure.

>> No.14400928

>>14400796
Are you accidently admitting lightning adoption will take 17 years? First HD video on youtube was in 2009

>>14400826
>No one mines on rasberries, dumbfuck, all mining pools & mining hubs are basically data centers.
It's almost like that hows it's supposed to work

>0conf is completely insecure (unless you have something like Avalanche)
Now I'm starting to think you're trolling

>and goes against the principles of the blockchain
0conf has been in Bitcoin since the very beginning

>BSV did not sustain ANYTHING because when it hit 100mb the whole network halted and had multiple reorgs in a row.
Re-orgs only affect miners, doesn't affect users at all, it's designed to punish lazy miners read the whitepaper

>> No.14400931

>>14400874

So go use rodger ver coin then and leave the adults alone faggot

>> No.14400951

>>14400928
>>14400921
>>14400901

Cope your fake bitcoin is literally worth $0

>> No.14400999

>>14400951
BSV is worth infinitely more than BTC because it actually works and scales, if it's a low price that's wonderful for us because we will be millionaires

>> No.14401004

>>14400928
Reorgs do affect users if your network gets hardforked or double-spent, retard. BSV literally halted, yet Calvin Ayre's data centers control most of the hashrate. 0conf was never the original intention of bitcoin because transactions need to be verified, that's the original protocol, cretin. The only way to make it work securely is the BCH way.

>> No.14401029

>>14400797
>but I though bitcoins sold for more than $10 000 per?

>> No.14401050

>>14400999
The only thing that BSV has up its sleeve is threats and attempts to win the bitcoin brand war with a dragon logo and a retarded name. Tons of altcoins are unironically more scalable and secure.

>> No.14401054
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14401054

>>14400999

Lol

>> No.14401118

>>14401004
>0conf was never the original intention of bitcoin because transactions need to be verified, that's the original protocol, cretin.

It was literally in the code from day 0, Bitcoin transactions used to be instant and virtually free in the early days before (((Blockstream))) removed it, you would know that if you weren't such a newfag

>>14401029
Why would any sane person complain about the price not being high enough?

>>14401050
Utility.
Scale.
Actual usecases.

>> No.14401142

>>14401118
>Why would any sane person complain about the price not being high enough?
because a normal person is wary of scams on the internet
fwiw I think btc is dogshit

>> No.14401187

>>14401118
Bitcoin transactions used to be instant WITH confirmations, goddamn retard.

>dear goyi-.. I mean, consumers, let me present you the dragon logo of a very true, original bitcoin!

>> No.14401277
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14401277

>>14401187

>> No.14401346

>>14401277
I hate 2018 arrivals so damn much.

>> No.14401389

>>14401346
How can you have an instant confirmed transaction unless by pure luck you send it 1ms before a block is found? You're talking absolute nonsense mate

>> No.14401405

>>14400703
this

>> No.14401465

>>14401389
The network was small and fast. Everything was basically instant.

>> No.14401506

>>14401465
You have no idea what you're talking about

>> No.14401535
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14401535

>>14399530
This is from May 2017, I made a screenshot because those fees were absurdly high then.

>> No.14402334

Does btc always dump when the mempool is backed up?

>> No.14402404
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14402404

>>14399283
You can always try this.

>> No.14402447

>>14401029
Exchange rate doesn't matter when using it as payment. All prices are denominated in fiat anyway.

>> No.14402450
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14402450

>>14399283
dezoom

>> No.14402465

>>14401187
>Bitcoin transactions used to be instant WITH confirmations, goddamn retard.

How fucking stupid are you?

>> No.14402519

>>14402447
the discussion was about selling bsv to a "normal person"
btc is difficult to sell to a "normal person" because it doesn't work
bsv is difficult to sell to a "normal person" because it isn't btc

>> No.14402821

>>14402519
It will be a lot more simple when BTC and BCH dies and BSV will be the only BitCoin

>> No.14403088

>>14400403
As people actually begin spending crypto and merchants begin accepting it, they will use whatever has the lowest fees and is instant.

Another coin, not bitcoin, will be the coin of choice for spending and for businesses.

Bitcoin may live in as the “store of value” token simply for being first, but I believe market forces will lead to another currency token that lives along side bitcoin as the preferred token for daily transactions and spending. I like Litecoin and Dash because they have distinct branding, which is important for adoption. I like that Dash is more centralized and run like a business. It should give it a leg up over the others.

>> No.14403371

>>14402519
The discussion was about sending money and explaining it to a normal person. Stop lying cuck.

>> No.14403404

>>14403088
BTC is not a store of value, when will this retarded meme die? Even as the price is currently crashing people till parrot this dumb narrative.

ITS A SPECULATIVE ASSET, get it through your thick heads.

>> No.14403472
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14403472

Corecucks BTFO

>> No.14403584
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14403584

>>14400098
Bch fucked up the protocol, there's even a video of the dev admitting they fucked up bad and that its not bitcoin Anymore.
BSV is what you're looking for.

>> No.14403725

>>14400008
do you not understand your picture at all?
why are there so many retards in this space

>> No.14403746

BTC IS DEAD. This is a fucking joke.

>> No.14403752

>>14400354
oh my god please be ironically trolling

>> No.14403775
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14403775

>>14400045
>l-l-lighting network!
>it wasnt meant to be used like it was made!

>> No.14403783

biz kids are total retards and just looking for a reason to shill their shitcoin lol

>> No.14403816

>>14403746
this is hardly the first time. people will forget as soon as it works again.

>> No.14403836

>>14399295
the NANO awakening

>> No.14403883

service provider sends non segwit non batched not efficiently priced transactions
>hur bitcoin is stupid too expensive
those service providers won't be in business long lol

>> No.14403899

>>14403783
leave

>> No.14403935
File: 31 KB, 292x310, digitalgolde.png [View same] [iqdb] [saucenao] [google]
14403935

ITSSSS
DIGOTAL
GOLDE
DONT SEDN IT
I REPET
DONT SEDN IT
JUST LOOK AT IT
LOKING IS GOOD
LOOK AT YOR COIN
BIG MONE
THANK YOU

>> No.14403984
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14403984

>>14403752
LIGHTNING IS THE FUTURE! Every person must have a lightning node, it's simply the best payment technology we have ever come up with!

>> No.14404012
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14404012

Thank you AXA!

>> No.14404028
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14404028

>>14403984
Versus BitCoin that scales

>> No.14404096
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14404096

>>14403984

>> No.14404112

>>14403404
>BTC is not a store of value
name another speculative asset with finite supply.
>inb4 they aren't building any more land meme

>> No.14404631
File: 941 KB, 1526x418, notimetoexplain.png [View same] [iqdb] [saucenao] [google]
14404631

>>14403775
>>14403746
>>14403584
>>14403472
>>14402450
>>14401535
>>14402404
>>14401277
>>14401054
>>14400901
>>14404096
>>14404012
>>14403984
>>14403935

>> No.14405093

>>14403404
It's a store of value because of lost coins/key, exiled coins(hack), and suicides. That value is locked in.

>> No.14405167

>>14399283
Boy that lightning network sure is working great after it was announced two years ago.

>> No.14405181

>>14400354
Literally all Segwit does is move the signatures into a separate data structure. It’s still using the current blockchain to transmit transactions.

Lightning is a completely different way to transmit transactions. You do not use a blockchain (except for the initail transaction).

They are different.

>> No.14405258

>>14405181
Lightning requires segwit to be present to at least give some semblance of trustless and decentralization. Otherwise yes, lightning networks can exist without it but it would naturally require trusting certain institutions, which defeats the literal main purpose of blockchains.

Lightning networks will still result in massive amounts of centralization however so it's still a shit show.

>> No.14405263

>>14400531
You can create a digital currency that does that.

You cannot create a decentralized currency that does that. There is an inherent trade off between decentralization and blocksize. The bigger the blocks the less secure the network will be. We must find an appropriate balance between the two if we are going to take on central banks. Too small of block size, the network cannot function. Too large of size, the network can be taken down by them.

>> No.14405339

>>14405263
>Too small of block size, the network cannot function. Too large of size, the network can be taken down by them.
Tell that to Luke, the Blockstream dev who wants to decrease it to 300kb.

>> No.14405427
File: 90 KB, 900x900, 1543499306628.png [View same] [iqdb] [saucenao] [google]
14405427

>bitcoin crashing
>people waiting for coins they bought over 24 hours ago

on the bright side, since this is of course merely a market correction, the delay will prevent them from panic selling, and they'll become millionaires

checkmate biz

>> No.14405500

>>14405263
>The bigger the blocks the less secure the network will be.

That's not inherently true. The block size at which that starts being true is way beyond the number of transactions today. It's a complete myth that blocks above 1MB will cause any issues except in ASICs (read: centralized) that absolute rely on the blocksize staying 1MB and maybe stupid old computers on dial-up. Even a raspberry pi 3 can handle larger blocks.

>> No.14405546

>>14399295
It's bearish again because of incompetent Core developers. "but muh lightning", that shit doesn't work and never will. Nano is to become the new crypto standard.

>> No.14405550

>>14400928
0-conf is not a good idea for the protocol. Instead of having a fee-weighted priority queue (that is the queue is sorted in terms of highest fees get confirmed first), we have a regular queue that is sorted in first-in-first-out order. This makes it difficult for miners to discern fake transactions from real ones. Since bitcoin is permissionless, one could spam thousands of .00000001 btc transactions in order to waste block space. Whether you choose to believe me or not, blockspace is scarce because storage space and bandwidth is scarce. The larger the blocksize, the less secure due to the fewer number of nodes able to keep up.

>> No.14405886

>>14405339
I am not claiming to know what the blocksize should be. I do not think we should decrease it and I am not sure to what extent we should increase it. What I do know is any upgrade should take a conservative approach to upgrades, or else we might compromise the network. I think satoshis idea of blocksize increases are probably the way to go. That is, set a date far in the future to hardfork and increase the network, and slowly have people switch over to the newer software. You absolutely should not do it over night.
>>14405500
It is true. Any computer has a finite number of resources available. Resources being clock cycles, ram, storage, and bandwidth. Increasing the block size will infact increase the number of clock cycles required to compute blockhashes, bandwidth to transfer blocks, and storage to store them in memory and ram. The higher the block size, the more resources are required for the computer to handle the network. Now a few extra megabytes may not seem like that much. But you have to remember the block size is effectively a rate since blocks are created at a rate of 1 block per 10 minutes. Doubling the block size doubles the amount of resources required per year. The network is already a challenge to sync with the current 1mb block size. Even with a fast computer, verifying the blockchain is extremely slow and can take days. I’m not saying the block size should be the same forever, but this trade off does exist, and should be acknowledged by both sides.

>> No.14405966

>>14405886
I fucked up the storage part. I meant to say increasing the block size decreases the number of blocks that can be stored in ram and it increases the overall blockchain size that can be stored on disk. But you probably knew what I meant.

>> No.14405984

>>14399283
>$1,000 fees EOY

B U L L I S H

>> No.14406008

>>14399312
>Utopian thinking

SELL SELL SELL

>> No.14406026

>>14399467
>pay for transaction
>spam

>> No.14406047

>>14405966
This was already done in bitcoin cash. It is still as decentralized, miners support it, users use it.
BTC has been hijacked and decentralization is being used as a weapon against adoption by those that want neither.

>> No.14406060
File: 995 KB, 760x1520, info4.png [View same] [iqdb] [saucenao] [google]
14406060

>>14405886
>I am not claiming to know what the blocksize should be.
BCH has been attacked constantly and its 32mb block cap never has been an attack vector.

>> No.14406088
File: 988 KB, 914x866, crippled.png [View same] [iqdb] [saucenao] [google]
14406088

>>14406047
>BTC has been hijacked
Fuck Blockstream.

>> No.14406109

probably the best indicator for the parabolic top

>> No.14406117

>>14399467
it's surely just people transferring coins to exchanges for the pump, then back to their wallets after the dump

>> No.14406169

>>14406060
what if the blocks were much bigger?

>> No.14406187
File: 50 KB, 645x729, 1509816933226.png [View same] [iqdb] [saucenao] [google]
14406187

>>14399633
>six blocks found in the pasts hour
>its the difficulty

>> No.14406192

>>14399618
>How many transactions fit into a 1mb block?
~2400 tx per block

>> No.14406252

>>14406169
BCH would be $100k+ if we actually did more than 100 tx/s to need bigger blocks which would increase miner revenue and justify higher investment.

>> No.14406256

>>14406169
Who cares, by the time much bigger blocks will be needed the tech and network will be much better.

>> No.14406300

>>14406252
Also the number of users is finite, also the demand for tx's is finite, so the need for block space isn't infinite. It could converge to say 15MB which will meet demand for many years.

>> No.14406504

>>14406047
>>14406060
I actually don’t have an issue with bitcoin cash. I am glad it exists as an alternative to bitcoin. That being said, I still think their approach for scaling is not the best. For one, their philosophy revolves around scaling via block size increases, which is not the most optimal solution out there. Raising the blocksize only linearly increases the transaction throughput. You can not rely on just block size increases. Many in the bitcoin cash camp dislike lightning and other off chain solutions, dismissing them as some sort of block stream conspiracy. If bitcoin cash was open to other solutions and solved their transaction maliability problem so they could implement the lightning network, then it could be a real contender if enough people were to adopt it. However, to me it seems most are very myopic, focusing on block size almost religiously. Not to say core is perfect. They’re also myopic in focusing on alternative scaling methods. However, I feel as though alternative scaling methods have more potential.
In the end we need a combination of both to scale, and unfortunately both sides do not fully understand that yet.

>> No.14406507
File: 7 KB, 161x250, 16602953_10155348885889523_5735474240227244566_n.jpg [View same] [iqdb] [saucenao] [google]
14406507

>>14400206
>Lightning has no fees or any organization

More like Lightning has no utility or optimization.

>> No.14406570
File: 27 KB, 628x472, 862cdf910f8ad13a80e60975f0c63a92_preview_featured.jpg [View same] [iqdb] [saucenao] [google]
14406570

>>14400726
>Use lightning
You tell'em, anon! Are you #wreckless too? I lost like 50 bucks this morning trying to route a payment, but that doesn't matter because its the future!

>> No.14406682

>>14406504
they're philosophy revolves around fucking brand stealing and using the @bitcoin twitter handle and bitcoin dot com website to fucking trick and mislead people into buying cuck cash when they think they're buying the actual bitcoin

it's fucking disgusting, fuck bcash and fuck slimy little faggot roger ver, he's so autistic without awareness he actually thinks he can pull the wool over people's eyes without everyone seeing it.

>> No.14406710
File: 903 KB, 700x900, SaveBitcoin!.png [View same] [iqdb] [saucenao] [google]
14406710

>>14406682
>brand stealing
There's nothing more amusing in crypto than watching the boomers who are buying btc like it's some security traded in Wallstreet.

>> No.14406719
File: 34 KB, 817x443, 1516406448542.png [View same] [iqdb] [saucenao] [google]
14406719

>>14401187
>instant WITH confirmations

>> No.14406728

>>14401465
You sir are and idiot :)

>> No.14406740

>>14399295
LMAO

>> No.14406805

>>14406682
I mean, yes. But you’ll inevitably get copycats in a world with no copyright. Without copyright, the market must decide which brand is the real version and so far bitcoin is the real version. Could that change? Maybe. Nobody can predict the market. All I know is bitcoin is the real bitcoin in this moment due to the difference in price.

>> No.14406910

>>14406805
>All I know is bitcoin is the real bitcoin in this moment due to the difference in price.
The market could rule my cat's feces is the real bitcoin. Does it make it any more bitcoin than BTC?

>> No.14406969

>>14406910
It could but it hasn’t because you would have to convince everyone on the planet to value your cats fecees over the current bitcoin. Make it happen.

>> No.14407030

>>14406682
>thinking brand matters in a decentralized market where consensus rules all

Bitcoin is allowed to be forked for a reason. The "real Bitcoin" was left a long time ago but people kept the name because they felt it was still accurate enough. Some people disagreed and left to make their own Bitcoin that they agreed was Bitcoin and that's perfectly alright.

>>14406910
If everyone agrees your cat's feces is called Bitcoin then it might as well be. Language is not defined by dictionaries but instead by how people use it.

>> No.14407053

>>14407030
>If everyone agrees your cat's feces is called Bitcoin then it might as well be. Language is not defined by dictionaries but instead by how people use it.
Precisely.

>> No.14407152

>>14407030
the general consensus is btc is bitcoin tho
only like 500 to 2000 people think otherwise which is less than how many believe the earth is flat and way less than how many believe vaccines cause autism.

>> No.14407264

>>14407152
>only like 500 to 2000 people think otherwise

The bitcoin cash subreddit by itself begs to differ having 256.000 members since that's the closest thing I can find to a source on this number you pulled out of your ass.

>> No.14407308

>>14407264
>You have to go back

How many unique people actually post or comment?

>> No.14407376

>>14407264
assuming they are actually retards and not just memeing
on the other hand about 2% of adults belive the earth is actually flat.

>> No.14407444

>>14407264
btw i was referring to sv cucks not all cashies, seems to me cashies got to terms with them not being the real anything but bcash.

>> No.14407445
File: 369 KB, 700x400, earth-is-flat.png [View same] [iqdb] [saucenao] [google]
14407445

>>14407376
open you're eye's sheeple.

>> No.14407509

>>14407444
>cashies got to terms with them not being the real anything but bcash

This is why nobody will remember your name.

>> No.14407533

If Bitcoin dies anything Bitcoin dies with it. Doesn't mean Bitcoin will succeed. But stop losing money for god's sake.

>> No.14407548

>>14399283
This is why we need to abandon the stupid bitcoin scam and get into ETH/anything that has an actual plan for scaling.

>> No.14407598

>>14407548
>ETH
ETH is PoS and not limited supply. Also it's an order of magnitude more complex. Even a scam like LTC will be more useful than ETH.

>> No.14407621

>>14399283
CURRENCY OF THE FUTURE

>> No.14407664

>>14407548
Try running a full node. Cryptokitties was able to DDOS it. Pathetic.

>> No.14407688

i wonder if there's a market for a hotel chain which opens solely next door to retailers which accept bitcoin payments

>> No.14407695

>When you pay $5.40 more for coffee than everyone else what you're really paying for is the security and hashrate behind that transaction. You can drink that coffee knowing the merchant won't get ripped off and that $5.40 helps pay for a miner who's barely breaking even.

>When any new user is introduced to Bitcoin and they see this $5.40 fee, they too will understand in time that the fee is a must have for security and that there is no other way to secure the network. In time users will drop Venmo or Apple Pay almost immediately so they can send money to each other for a low, low cost of $5.40. People will start running LN nodes and Bitcoin nodes and next thing you know Bitcoin will be mainstream. Just give it 18 months.

>> No.14407717
File: 261 KB, 914x866, blockstramln.jpg [View same] [iqdb] [saucenao] [google]
14407717

>>14407695

>> No.14408275

If only there was a bitcoin with gigabyte size Blocks that allows for cheap instantaneous transactions...

>> No.14408444

>>14408275
completely controlled by a shadowy cabal of hucksters