Bitcoin Backlogs Problems!!!
So, this morning (9 hours ago), I sent Bitcoin to an exchange and it has yet to be verified (on 0/2). I think part of it is the exchanges and high volume, but a big part of it is backlogs with Bitcoin and makes me think what will happen if Bitcoin every hits 100k+.
I know segwit is potentially on the way, and I'm very bullish on Bitcoin and love the potential of the coin, but if nothing changes what will happen? Will it take 1 month to send one Bitcoin? This is a problem that has to be fixed. It is ridiculous that you have to wait hours/days/longer to send one Bitcoin. Even if Bitcoin is like the gold of crypto (or reserver), things need to change.
What do you think?
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That change should come with BIP 148 (UASF guide) over 50 % acceptance of this soft fork change. I would still rather go from FIAT to steem anyway.
Current Bitcoin Blockchain Fees is 0.001 and in general it will not be more than 1% . So answer on what are you saying if sending 1 Bitcoin, will it takes 1month! In my opinion and it might be wrong. What even the Price of the bitcoin you always pay a little fees on it. And we always can afford 1% on any transaction, regarding the time it could talk little big longer that's because There are less Miners mining Bitcoin ,Due to First increase of difficulty and second the haling every 4years of the reward.
So in my opinion there is always a good opportunity to invest and send bitcoin whatever it's price. Remember always there is just 21 Million bitcion and there is no way to make more. That means in the near Futre, Too many all new coming people are doing there best the get any part of this Bitcoin.
The Glory is to Come.. Passion is the key.
Indeed in send bitcoin it is very long because it requires a lot of confirmation
But it's one advantage for users to stay safe doing online transactions :)
Hopefully this future can be accelerated without reducing the security of transactions
If you don't mind me asking what is segwit
Lagging just annoys user and same is happening in steemit also.
Many new users are waiting for accounts approval for week or more time after email verification
My approval that I received a couple of weeks ago only took a couple of days.
My approval came same day and my wife is waiting for last 8 days.
Try using Litecoin for now to move around. Much, much quicker and really non-existent fees. You can always exchange it for BTC once its there if that's what you want...simple
It is ridiculous. Bitcoin will never be useful for day to day transactions if transactions take too long to confirm. Confirmations need to get down to 5 minutes.
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42 votes and only .08 cent????? strange........
The length of time for confirmations on BTC is ridiculous, this lag will eventually kill BTC if something isn't done. So many other 'coins' are way faster...STEEM is an example, but also ETH, LTC and many others. The Tx Fee's are also ridiculously high for small Tx's in comparision to other 'coins' too.