RE: Microsoft stops accepting Bitcoin as payment
Bitcoin is such a joke. They actually have a rainbow now for their fees! lol
https://dedi.jochen-hoenicke.de/queue/more/#2w
Anyway, Bitcoin is going to slowly die if they continue to do nothing. Lightning isn't going to do anything unless they raise the block size, because it has to be settled on the blockchain when transactions are done on Lightning(not to mention it costs money to setup a LN payment channel...).
A lot of the Bitcoin devs who are currently in power are not the ones who actually made Bitcoin to start with, just a bunch of morons. They cry that Bitcoin is being attacked by Bitcoin Cash, but the irony is that is the free market and people are voting with their wallets on what product they want.
It would be more hysterical if it wasn't so sad. Bitcoin space now is filled with a bunch of FOMOs(Fear Of Missing Out on profits). Ah well!
At least Bitcoin Cash is going strong(and ETH/Steemit!)
Bitcoin is stuck with a problem bitcoin let happen. Every other legitimate crypto has this problem solved in one way or another Bitcoin however is too afraid to move forward so they’re stuck dying.
Other cryptos such as Ethereum have scaling issues as well. Bitcoin still has brand recognition and first mover advantage. It will be difficult to overcome that at this stage. Especially as 90% of people invested in this space don’t care about the tech. It’s all about the speculation!
Plus the big miners love the fees... but the fees will kill it.
Yep, there’s too much self interest rather than the desire to improve the actual tech.
That is the same concern I have regarding the Lightning Network. The cost to set it up and settling the block back on the chain. Just a lot of uncertainty and doubt about Bitcoin's future overall.
Hmmmm
Exactly. Likely a slow and relatively painful death. But it is coming.
https://news.bitcoin.com/bitcoin-fees-are-falling-amidst-greater-segwit-adoption/
I agree with you about the FOMO people. they flock to Centralized services like CoinBase. When they get burned by the long time it takes to settle they cry. I built a Blockchain Accelerator for the Bitcoin ledger. When you use the Bitcoin Core Wallet on your computer it can take weeks to sync. A lot of times it is corrupt and does not work.
People then go to CoinBase or CoinDesk because they are afraid they will miss profits. I built a program that feeds the blocks to your wallet directly from an IBM Sphere server. Meaning you get all the blocks delivered from a private fiber channel. Instead of taking weeks it only takes a few hours.
I felt compelled to help people out. Once you have the decentralized wallet in sync you do not need the online wallets. Thus saving you from the $2.99 fee every time you do something in your wallet.
We created mini trading pools in private using our Bitcoin Core Wallets. There are only a few hundred of us. We have freedom of banks and third party wallets.
As for STEEM and STEEMIT I love it! I applied for the writers account way back when it was BETA. It took about a year to get accepted. Well worth the wait. I am looking forward to the introduction of video to Steemit. That will take a huge chunk out of YouTube.
Is this writers account the same one as you are using now? I signed up and only waited a day. Later I learned that there is a fee in creating a steemit account and that some people had to wait weeks until they got a confirmation email. A year seems really long.
@dtube is here! Upload video right now to the Steemit blockchain :) Decentralized video FTW!
Fuck "Bitcoin Hash".
It is a free market, if bitcoin can't survive against competing against other coins and it dies, then it dies.
Bitcoin is being sabbotaged slowly for years.
Very true, and if it does die off it wasn't as resilient as we were led to believe. There will be other coins.
I really doubt it will die, too many mobs into it :D and dark sides of govs. On the other hand they'd be better on xmr network.