Slow Bitcoin Transactoin

Just use my Lightning card and you won't have to pay these fees. It'll be fast and easy.

Face it goy: you need (((me))) to manage your accounts. Decentralization would never have worked.

>Blame competition.
Since when did communists come to this board?

Took 23hours as well and got completed Now

I never have these problems. You are predestained to be a faggot.

Core created this situation to make $5 segwit payments more palatable

reddit.com/r/Bitcoin/comments/6vxbse/we_may_have_to_accept_higher_fees_until_september/

Cuck Coin Cash is fucking with Bitcoin.

So...

Basically, what LN will do is create a centralized transaction processing later on top of the Bitcoin ledger, thereby making miners unnecessary for processing the majority of transactions...

That would be completely against what Bitcoin is meant to be, a decentralized, peer to peer payment system based upon mining as both a verification tool and generator of value. If your transactions are being processed by a corporate LN protocol, why use a cryptocurrency in the first place? Why not just use dollars?

Same here :

Cont.

Why not just use fucking PayPal?

>Thymos sub
Bitcoin is sabotaging its own identity.

Because LN transactions still get added to the blockchain...

Wow, you literally didn't understand a thing I wrote. Gas yourself.

This.

LN= central control, private ledger.

INDEED!

If BTC adopts LN, BCH will becomes like old school BTC with upgrades. No KYC, no banks or governments freezing or stealing your money.

Who do you think mines those LN transactions when they're added to the blockchain. Surely it won't be the miners.

NOT if but when. They've been working for this a long time now.

BTC goes LN and the block ceiling stays at 1, transactions remain too slow and too expensive peer-to-peer, so everyone joins LN because currency utility is gone at 1 mb ceiling, and btc is fully centralized.

Then the subscription fee rises.

Theoretically, you wouldn't even need miners anymore because all transaction could be processed on the LN.

...and if you think there will still be a way to send BTC in peer to peer transactions outside of the LN, you will be looking at steep fees and long transaction times, and paying a fee to open up a LN payment channel that would eventually class all users outside of exchanges/BTC Banks outside of being able to make peer to peer transactions.

reddit.com/r/btc/comments/6vynzx/lnsmall_blocks_force_everyone_onto_bitcoin_banks/

>Small blocks + LN means that transfers between (different) exchanges' accounts are going to be >1000x cheaper than on-chain transactions as they go through few very big exchange-to-exchange channels that settle rarely. If you used LocalBitcoins it's already true for intra-site transfers - LN makes that true for inter-exchange transfers.

What's horrible is that it creates a blacklisting effect on external coins: as, in contrast to on-exchange bitcoins, they would have to be moved onto a LN channel by the receiver, paying a fee. So on-chain bitcoins are going to be second-class citizens, as payments done with them would have to pay not only their own tx fee, but that of a receiver also - making them worth much less.

not only this but if bitcoin wants to scale the LN to visa levels the LN needs BIGGER BLOCKS, like on the order of 50MB

otherwise you'll have lightning channels sitting in the mempool for god knows how long instead of the mempool clearing each block or two

yes exactly. The whole plan by the devs was to sell out to banks and remove power from miners to central planners and enrich themselves in the process.

All-done-according-to-plan.jpg

It's going to work too. The average consumer is too dumb and will think LN subscription + KYC is a great deal compared to fees today. Unfortunately the value proposition of Bitcoin will be killed off and the demand will die. I'd rather have Visa/Mastercard with better infrastructure if the banks will be in full control of my money.

Good for you. It's a shame that certain miners are consistently mining empty or half-full blocks - that only adds to the problem, and it's clearly intentional. Just look at the last 20 hours of blocks.. Every single time the block size was smaller than 800kb (they seem to mine often as low as 0.34) it's AntPool. Why is it usually just AntPool that does this?

You literally get what you pay for.

>Basically, what LN will do is create a centralized transaction processing later on top of the Bitcoin ledger, thereby making miners unnecessary for processing the majority of transactions...
Source

only one of the near-empty blocks from the past 24 hours was not from spymining

Because they are actively sabatoging BTC network, and it's easier to get the block reward by doing this

Ask and ye shall receive.

reddit.com/r/btc/comments/6w16fv/bcores_scaling_solution_will_fail_this_is_why/

reddit.com/r/btc/comments/6vynzx/lnsmall_blocks_force_everyone_onto_bitcoin_banks/

no they aren't you moron

jesus christ I swear the collective IQ of Veeky Forums is 50

they are spy mining the headers. 90% of the empty blocks happen within 30 seconds of the previous block

the headers have propagated but the previous block has not yet been completely verified

Oh wow thanks for cluing me into this tiny trivial fact about bitcoin you really saved the day

my point is that this makes economic sense, it's not some war tactic against btc by antpool like the user was suggesting

Good reads in the comments

this is a neat way to visualize how full the mempool queue is:
jochen-hoenicke.de/queue/

Note that the only fee level getting regularly taken off the queue and processed is the level where it's about 5 dollars or more.

Am I the only one that sets a minimal fee and waits?

I've used cold storage for my hoard for years to prevent getting goxed, but now I'm wondering if it's actually safer to keep it all on an exchange.
At least coinbase would let me send it to other coinbase clients.

I usually do too, but this backlog keeps getting richfags inserted at the front of the line right now.