Bitcoin only thread

[Anonymous No.27807188]

How do we fix the congestion problem? And how do I profit from this?

[Anonymous No.27807693]

>>27807188
can’t be fixed which is why btc will probably die out when the dollar finally cracks and goes to zero
people won’t be able to make the day-to-day transactions that they need to survive with btc and if they can’t use btc they will just abandon it and use something else
converting your btc to something else with lower transaction times/fees won’t work either since conversion = sending which means waiting weeks for something that may or may not work when you get it
all your btc debit cards will be worthless as well since they run on dollar intermediaries for fast transactions
true money has to be usable in all scenarios, including total economic collapse where regular payment channels become congested/blocked
money is about more than just storing wealth for all eternity, that “store” has to be readily accessible at all times or the money will turn sour once the economy turns sour

[Anonymous No.27807804]

>>27807693
Youre a fucking idiot

BTC isn't meant for day to day small shitty transactions, it never was.

Holy fuck when will people stop saying this bullshit.

[Anonymous No.27808130]

>>27807804
so what will then be the value of bitcoin when the dollar collapses?
you’ve stored your wealth in bitcoin, now you need to access it to survive but you can’t access it because transactions take several weeks
what will you use to buy the things you need? whatever you use will become your de facto currency
bitcoin is a “fair weather” store of value that you can use to hedge against the dollar, only to convert back when you need to do transactions
but if conversion takes weeks and there’s no dollar to convert to, no one will want your btc
money has to be both hard and transact-able in all weathers
this is why gold, despite being a regarded yellow rock has stood the test of time, doing business in gold is very easy and takes seconds no matter how fucked up things are

[Anonymous No.27808189]

>>27808130
>regarded yellow rock
retarded* yellow rock
phone posting sucks

[Anonymous No.27808358]

>>27808130
This is why I contemplate leaving my BTC on Kraken. It's a regulated exchange and offer several tiers of account security. My ultimate nightmare is watching the value plummet while waiting for your BTC to arrive... which could take hours or days if the network shits the bed.

[Anonymous No.27809544]

>>27808358
do not leave your shit on an exchange, you will get goxed

[Anonymous No.27809841]

>>27809544
I dunno anon. Kraken isn't some chink exchange.

[Anonymous No.27810049]

>>27809841
their complexity and size is a weak point, rule no uno - not your keys not your money

[Anonymous No.27810365]

no schizo quotes from the whitepaper yet, where are shiva-vishnu shills?

[Anonymous No.27810496]

>>27807188
Explain to a fellow idiot, what am I looking at?

[Anonymous No.27810788]

>>27807804
With the course BTC development has chosen it is indeed becoming a niche financial tool for large transactions.
This isn't enough of a justification to be the #1 market cap coin. It might not even justify its current price.
Some other scalable coin will take over which will cover most other usecases.
>BTC isn't meant for day to day small shitty transactions, it never was.
This is a huge cope/rationilization with a bias that whatever BTC developers decide is the right thing.

[Anonymous No.27811016]

>>27809544
If you're a braindead then maybe it's best to leave it on an exchange. Higher chance of them not losing it that way t b h

[Anonymous No.27811153]

>>27807188
only seem to be a problem for the lowest fee bracket. normal fees go through quickly.
so so far there is no problem. long term micro transactions can go to lightning which will take away like 80% of on-chain volume at first. but then of course as adoption grows the channel maintenance will pick up the slack.

[Anonymous No.27811246]

>>27807188

[Anonymous No.27811316]

>>27810788
what are the candidates for a more practical replacement coin?

[Anonymous No.27811418]

>>27808358
Yes happened to me in 2017. Fucking 20$ for a single btc transaction and I waited two days !
Though I 'll never feel weel knowing I let my money on a exchanger, even Kraken.
Maybe you can store what you want to keep and let on Kraken what you want to play with

[Anonymous No.27811440]

>>27810788
>Some other scalable coin will take over which will cover most other usecases.
but only if that coin manages to be trustless permissionless and secure on the same level as bitcoin while being able to beat bitcoin at scale.

because bitcoin can do a few billion tx/sec with those 1mb blocks as things are. and with taproot things are about to get crazier.

[Anonymous No.27811549]

broke 38k barrier baby

[Anonymous No.27811870]

>>27807693
Lol dipshit by that time banks will be fully on board with crypto and internal and external transfers for every day funds will be synergized with visa and other ach networks with zero latency and maximum scalability.

Final settlement will occur with large batches of Bitcoin on the blockchain. And that's the important part, retard. A trusted, stable, working reserve crypto asset.

But cool 80 iq take on the future. I can tell you'll go far on this space, fren.

[Anonymous No.27812092]

>>27811316
honestly iykyk. This board isn't for spoonfeeding anon DYOR

[Anonymous No.27812520]

>>27811870
let's just get to the point where visa runs a lightning hub first.

[Anonymous No.27812657]

>>27808358
there is an easy solution to this.
keep self custody of the majority of your btc but keep some on leveraged trading platforms.
with leveraged shorts you can lock in your price.
you can also collect funding which tends to be positive on shorts the vast majority of times.
this gives you instant reaction time and also safety.

[Anonymous No.27813437]

>>27811870
>Banks
>BTC
this will end well

[Anonymous No.27813466]

>>27809841
lol, Kraken was struggling to stay online all last week. You're delusional.

[Anonymous No.27814104]

>>27807804
>BTC isn't meant for day to day small shitty transactions, it never was.
Is this bait? Have you never read the whitepaper?
>While the [current] system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model.
>The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions,
>What is needed is an electronic payment system based on cryptographic proof instead of trust
You fucking redditors disgust me, go back.

[Anonymous No.27815088]

>>27809841
Kraken is already dying exchange while Binance and Coinbase are contantly growing.

[Anonymous No.27815237]

>>27807188
Where my BATmen at?