Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is archaic
by
mainpmf
on 09/02/2016, 11:12:55 UTC
I know it has all the network effects but it's a dinosaur. Transactions take forever, sometimes take days or take client reindexing which takes an entire day. there is little anonyiminiy. Something like Dash has to eventually take it's place. The question is when.

They take day if you add no fee.
We can't say the fees are expensive buddy, stop being a cheap ass and pay them. When using Electrum the default fee is 0.1% and it allows transactions to get 6 confirmations in nearly 1hour. It's not exactly a slow process, especially considering 6 conf are extremely high and most sites accept 3 or 2.

I see. So I need to REINDEX also (yeah that makes sense). And the fee I used was the default for bitcoin-qt. Maybe we can make bitcoin real cool and start requiring .01 BTC transactions fees. It's heading there now.

Never paid more than 50k satoshi fee.
The fee should be proportional to the amount you're sending, and it's really low compared to any other mean of payment.

Problem being that if you use another coin, yeah for sure it'll be faster. Until adoption reaches btc level, then it gonna be something rather similar.