The Bitcoin Thread

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Sabre Wulf said:
R120 for what amount to be moved?
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The amount is irrelevant to be honest. The fees are too high, and the user should be allowed to choose the fee. If user low-balls the fee and the tx gets stuck for a day or two, that's the users problem.
Having the dynamic fee perpetuates the current fee problem.
The miners spam the network with transactions and high fees (paid to themselves), therefore everyone has to raise their fees to get quick confirmations.

If I only need my btc to be at the destination address in three days why can't I pay 20sat/byte, rather than paying 200sat/byte and having it arrive in an hour.
 
Noock said:
The amount is irrelevant to be honest. The fees are too high, and the user should be allowed to choose the fee. If user low-balls the fee and the tx gets stuck for a day or two, that's the users problem.
Having the dynamic fee perpetuates the current fee problem.
The miners spam the network with transactions and high fees (paid to themselves), therefore everyone has to raise their fees to get quick confirmations.

If I only need my btc to be at the destination address in three days why can't I pay 20sat/byte, rather than paying 200sat/byte and having it arrive in an hour.
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It does open up a whole new support angle for Luno though. Everyone wants lower fees, but not everyone will understand that it could sit there for a long time if you don't pony up.
 
Sabre Wulf said:
It does open up a whole new support angle for Luno though. Everyone wants lower fees, but not everyone will understand that it could sit there for a long time if you don't pony up.
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I hear you. But luno can still recommend their dynamic fee, and give the user the option for control with a disclaimer.

I don't even know if luno is doing segwit transactions.
Once lightning network is implemented, things are going to improve dramatically I hope.
 
Noock said:
I hear you. But luno can still recommend their dynamic fee, and give the user the option for control with a disclaimer.

I don't even know if luno is doing segwit transactions.
Once lightning network is implemented, things are going to improve dramatically I hope.
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Yeah, it's going to be interesting to see how it evolves!
 
Noock said:
I hear you. But luno can still recommend their dynamic fee, and give the user the option for control with a disclaimer.
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Exactly. It would be great it Luno would address this and what their plans are going forward for users having some control over sat/byte rate for instead of the unpredictability of dynamic fees. The blog article by Timothy about dynamic fees also needs an update.
 
Sensorei said:
Exactly. It would be great it Luno would address this and what their plans are going forward for users having some control over sat/byte rate for instead of the unpredictability of dynamic fees. The blog article by Timothy about dynamic fees also needs an update.
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Yeah. But first, I'm gonna make sure I get a response from luno on the issue of them keeping fees. I'm quite peeved about being overcharged. It adds up if you sending bitcoin often.
 
Noock said:
I'd look at buying bitcoin after the fork. I don't think now is the best time.
I'm not that big on ethereum, it's far less proven
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Excuse my ignorance. When is this fork? I've seen conflicting dates online.

I still dont feel 100% comfortable and understand the whole structure with fees on payments and how its all worked out. I'm not using Luno like the majority here, and right now only have a blockchain.info wallet. I'm looking into hw wallets, although still confused as to how that works and what kinds of fees I'll pay when transfering from and to that wallet.
 
Cicero said:
Excuse my ignorance. When is this fork? I've seen conflicting dates online.

I still dont feel 100% comfortable and understand the whole structure with fees on payments and how its all worked out. I'm not using Luno like the majority here, and right now only have a blockchain.info wallet. I'm looking into hw wallets, although still confused as to how that works and what kinds of fees I'll pay when transfering from and to that wallet.
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Will happen in block 494784, estimated to happen on 16 Nov. The exact time depends on block times.

Tbh the only way to feel comfortable will be to read, read and read some more. I spend a lot of my free time reading a variety of articles on btc.

FYI there is a free course on coursera by Princeton on blockchain. I haven't found time to do it yet, but it's supposed to be very good.
 
Cicero said:
Excuse my ignorance. When is this fork? I've seen conflicting dates online.

I still dont feel 100% comfortable and understand the whole structure with fees on payments and how its all worked out. I'm not using Luno like the majority here, and right now only have a blockchain.info wallet. I'm looking into hw wallets, although still confused as to how that works and what kinds of fees I'll pay when transfering from and to that wallet.
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Been posted numerous times, but I suppose once more can't hurt ....

http://bashco.github.io/2x_Countdown/
 
Lots of confusion re: segwit 2x

BTCC Backtracks From Segwit2x Longest Chain
http://www.trustnodes.com/2017/11/04/btcc-backtracks-segwit2x-longest-chain

So with exchanges all deciding their own avenues does that mean that post Segwit, 1BTC on one exchange doesn't necessarily mean 1BTC on another?
Looks more and more like it's time to pull the plug on BTC and invest in alts or cash IMO... at least until it settles.
 
Sabre Wulf said:
Lots of confusion re: segwit 2x

BTCC Backtracks From Segwit2x Longest Chain
http://www.trustnodes.com/2017/11/04/btcc-backtracks-segwit2x-longest-chain

So with exchanges all deciding their own avenues does that mean that post Segwit, 1BTC on one exchange doesn't necessarily mean 1BTC on another?
Looks more and more like it's time to pull the plug on BTC and invest in alts or cash IMO... at least until it settles.
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As Cobra stated there is a possibility of 3 chains claiming to be real BTC. for a while every side of argument will call their coin the "real" bitcoin. Although some exchanges already took the stance and announced what they will call each chain.
in terms of returns buying fundamental erc20 tokens before fork seems to be the best option. almost every erc20 token is in dip now and after fork they have nowhere to go but UP!
 
Sabre Wulf said:
Lots of confusion re: segwit 2x

BTCC Backtracks From Segwit2x Longest Chain
http://www.trustnodes.com/2017/11/04/btcc-backtracks-segwit2x-longest-chain

So with exchanges all deciding their own avenues does that mean that post Segwit, 1BTC on one exchange doesn't necessarily mean 1BTC on another?
Looks more and more like it's time to pull the plug on BTC and invest in alts or cash IMO... at least until it settles.
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I agree, add user confusion to no replay protection and its a bit of a recipe for disaster for the less astute. Plus there are a number of scenarios that can play out quite badly for btc core, maybe they're unlikely, but they're possible. I'll post some articles in the my next post

I've scaled out nearly half of my btc last week, waiting for the dust to settle post fork. I've got my money in fiat though. I don't like too many alts, I do like decred though.
 
Komrun said:
As Cobra stated there is a possibility of 3 chains claiming to be real BTC. for a while every side of argument will call their coin the "real" bitcoin. Although some exchanges already took the stance and announced what they will call each chain.
in terms of returns buying fundamental erc20 tokens before fork seems to be the best option. almost every erc20 token is in dip now and after fork they have nowhere to go but UP!
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You using EtherDelta?
[video=youtube;GN9KOfYFPWw]https://www.youtube.com/watch?v=GN9KOfYFPWw[/video]
 
Sabre Wulf said:
You using EtherDelta?
[video=youtube;GN9KOfYFPWw]https://www.youtube.com/watch?v=GN9KOfYFPWw[/video]
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Be careful.
You **** up on ED you're on your own. I wouldn't suggest someone use that site who's never ventured outside of buying btc on luno.
 
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