Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by leshow on Saturday December 09, 2017 @02:46PM
(#15887677)
Either pay a ridiculous fee or wait a ridiculous amount of time for confirmation?
Replace by fee is a thing, as long as the tx is unconfirmed it could be replaced. You're effectively saying the wait time is now 3 days unless you want to pay a fee of several dollars. So that rules out most transactions.
How do you pay for anything given those restrictions?
Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by Frogolocalypse on Saturday December 09, 2017 @11:04PM
(#15889825)
By aggregating commits to the blockchain, and doing them in batches.
Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by leshow on Sunday December 10, 2017 @04:38AM
(#15890679)
Sorry but non of this sounds very convenient or useable. It seems like you just really like btc so you're making concessions on usability.
Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by Frogolocalypse on Sunday December 10, 2017 @05:51AM
(#15890856)
> Sorry but non of this sounds very convenient or useable
Then you don't understand how bitcoin works, so it's probably best you refrain from commenting on bitcoin architecture.
Re:Bitcoin: A Peer-to-Peer Electronic Cash System (2008) [pdf]
by leshow on Wednesday December 13, 2017 @09:41AM
(#15914466)
You can't explain how your bitcoin debit is usable without paying a high fee or waiting a long time, so I don't know how bitcoin works? I hardly think that's fair. Your responses are practically non-sequiturs.
Lightning network hasn't been rolled out yet. It has nothing to do with our conversation.
Not sure there's any response possible for that one. "I don't know how it works, but I think it's dumb."
> Now the transaction fees are exorbitant.
Every standard sized bitcoin transaction bar the past three days (and those will too), that people paid over 5c for has been committed to the blockchain.