Remember Bitcoin the free money transfer service? Forget about it...

Discussion in 'Crypto Assets' started by Pekelo, Aug 22, 2017.

  1. Pekelo

    Pekelo

  2. f&&c #btc
     
  3. The mining fee depends on how many bytes are used in the block which in turn depends on the number of inputs there were to the transaction. It also depends on how soon you want the transaction to clear.
    The fee does *not* depend on how many BTC were transferred.
    • Modern wallet clients lets you control how much fee you pay. Many users are overpaying fees out of fears of having a "stuck" transaction. But if you're willing to wait a few hours instead of minutes you can significantly reduce the fee.
    • Wallet clients also let you pick and choose which addresses to feed to the transaction. Sometimes manually choosing inputs can reduce the fee depending on the client.
     
    VPhantom and Hoi like this.
  4. Hoi

    Hoi

    Cryptocurrencies are useful for payments that are very large, very small, very fast, very international, or very automated (so not so much for average amounts like buying a cup-of-coffee).
    Although (we have to admit) currently the "very small" doesn't work anymore (just too popular). But that will be solved in the near future when new innovations like the Lightning-network will be rolled out.
     
  5. Pekelo

    Pekelo

    Criticism of the LN:

     
  6. Hoi

    Hoi

    And here it's completely debugged:

     
  7. O(1)

    O(1)

    interesting. thanks
     
  8. Pekelo

    Pekelo

  9. I say, bring back beanies as a store of value.
     
  10. Cuddles

    Cuddles

    segwit, anyone got a rundown?
     
    #10     Aug 24, 2017