Quote from: Stedsm on December 14, 2017, 02:54:35 PM

To all those who are posting here with their so-called "SPECULATIONS", I guess they are illiterate enough not to read the whole OP and just posting that it will go up and rise and go to 20k or 100k or blah blah!

Do you guys even know what are you talking about? And what did I say here?

I am saying that the issues are not resolving and we need a solution as when some day, after the whole world adopts and uses Bitcoins, do you really think you will be able to cope up even with the size of blockchain? And what about the total unconfirmed transactions? This is what I want a solution for, and not what you guys are saying.

Do you see one thing here?

Let me show you one scenario quoting 2 guys' posts:

Quote from: CryptoRage on December 12, 2017, 08:18:51 PM

Scalability is not an issue if BTC is used as an asset. Just like gold it has its place in spite of its lack of practical daily use.

This one looks quite reasonable because I am seeing altcoins' usage being increased as people are just using them as a medium to sell their "Bitcoins" through alts that possess least fees. You know, I sold my Bitcoins via DGB and the trader made more than 30% on it as when I bought DGB and sold them, it was at 90 and the day I sold the trader, he made over 30% after the pump. So, this clarifies that Bitcoin is not going to be bought too much when it becomes completely unaffordable or an opportunity that slips out of hands.

Quote from: boboking on December 13, 2017, 01:13:16 AM

Well Bitcoin is a currency and can be used to buy almost anything in the internet, while gold is really an asset but as a mode of payment nobody accepts it.

No, it isn't and you can't use it to buy anything over the internet if you compare the fees that you pay. While with gold, it's not the same as it possess a stable value and you don't need to use it for payment. But, you forgot one thing maybe, that even gold was once used to be a mode of payment as when people used to buy things for Gold pennies - that's called barter trading.

The way I see it the problem with the high fees can go in one of two scenarios:
1. Confirmation times and fees become too high for many people, and they will simply slow or completely stop trading. A decrease in trading volume can make the price to fall down, but the main effect will be shorter confirmation times (less transactions to process) in the short term, and lower fees (as there will be more competition on the transactions between miners) in the long term.
2. Fees become high enough to make it profitable for more people to join into/open new pools. This will increase the computing power on the net and will get the same effects as scenario 1 in short and long term.

Of course there can always be scenario number 3 where too many people get frustrated with the current high price and poor performance of the network, and massively dump their bitcoin. But in my opinion this is less likely to happen. Usually those problems that are caused by people overwhelming the market just solve themselves, as the market tends to balance.