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RE: Segwit

in #bitcoin7 years ago

SegWit allows including more transactions in each block, so indirectly it will reduce fees...
Fees are up because of all ICO craziness, people want to be 1st in scam line xD, so they up the fees...
Just wait for lightning and other off-chain, side chain solutions, less spam will hit the main chain...

Right now you can join faucethub and tip other users 1 satotshi with 0 satoshi fee... centralized, but not lethal, unless you deposit millions...

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Fees are up because of all ICO craziness, people want to be 1st in scam line xD, so they up the fees...

That's with ether, not that much bitcoin.

The bitcoin network is extra much strained now as significant amounts of hash power is mining on Bitcoin Cash instead of Bitcoin.

Currently one can get quite much discount on the transactions if one has already received bitcoins to a segwit address, but very few is using segwit.

Just wait for lightning and other off-chain, side chain solutions, less spam will hit the main chain...

I don't think lightning is any silver bullet. Yes, it's needed, and yes, in the long term it will be very good for Bitcoin - but it's no substitute for a block size increase. Also, the network effect isn't there - lightning is pretty much dead until a significant amount of actors start supporting lightning and get connected to the network. Even in a year from now, I predict that if you take two random persons in the crypto ecosystem, it's more likely that they will be able to transact in some altcoin than with lightning.

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