News for hackers. Stuff that matters.

A comment on Bitcoin Fall Extends to 25% as Fears of Crackdown Linger. Parent comment

Re:Bitcoin Fall Extends to 25% as Fears of Crackdown Linger by omegaworks on Tuesday January 16, 2018 @05:57PM (#16163592)
Good to know, what is it based upon? I know you can spend coin to prioritize a transaction, is it formulaic?
[ Parent | on HN ]
Re:Bitcoin Fall Extends to 25% as Fears of Crackdown Linger by cantrip on Tuesday January 16, 2018 @06:17PM (#16163793)
No, why are you making claims such as Bitcoin is the new Beanie Babies when you have literally no idea how any of it works?
[ Parent | on HN ]
Re:Bitcoin Fall Extends to 25% as Fears of Crackdown Linger by bduerst on Tuesday January 16, 2018 @09:19PM (#16164921)
You don't have to be a carpenter to know if a house is built poorly, just if you try to describe the cause. They were right in their criticism of transaction fees, but were off in what was causing it.
[ Parent | on HN ]
Re:Bitcoin Fall Extends to 25% as Fears of Crackdown Linger by bduerst on Tuesday January 16, 2018 @06:00PM (#16163624)
Block size is limited by bytes allowed in the block, usually about 7 transactions a second (on average) for Bitcoin. Increased demand for transactions increased tx fees.

The length of the chain can affect processing power and bandwidth, as each block contains all previous blocks.

[ Parent | on HN ]