Post
Topic
Board Speculation
Re: 2018 predictions
by
pooya87
on 06/01/2018, 04:29:03 UTC

I love your positivity. Bitcoin is my hero. Also, don't forget we have a Bitcoin Cash which in my opinion is more useful. Bitcoin will stay either way.

it is not "more useful", it is temporarily fixed until the disaster happens.
if you think increasing the block size to 8 MB fixed the scaling problem then you haven't understood the problem at all.

I know it's a hard topic, but I am in crypto for quite some time, but one thing bothers me with Bitcoin. It's slow and expensive to move it so I don't do it and rather use Ether. It's also not useful for everyday life when you want to pay for goods. What went wrong?

i share your views. i got into bitcoin because it was a currency and could be used easily. but i still won't use an altcoin specially Ether with all the risks that introduces.

What went wrong? it is hard to say. the scaling issue was foreseen a long time ago (3 years or more) and there has been a debate over what to do about it. but the debate turned into fight over power at some point, specially with "businessmen" who only care about earning more money such as Roger Ver got involved in it. that made things to come to a near halt with bitcoin. and the sad part is there is corruption on all sides.

i really like Segregated Witness and the rest of the proposals that are coming such as Schnorr and the second layer LN and all the side chains and smart contracts. and i do believe that this is the way to go forward.
but the problem here is that all of these are Opt-In. as @1Referee said people aren't using SegWit that much!

and here is what i am afraid of, compressed public keys were introduced to bitcoin core version 0.6 on 30 March 2012. it reduces the transaction size by 32 byte per input, people were still not using it by 2015 as much as they should have, because it is opt-in. you still can use uncompressed ones and have a bigger transaction! SegWit and the rest may not take that long but it will still be a long while.