Post
Topic
Board Bitcoin Discussion
Re: I don’t think bitcoin is now decentralized
by
uneng
on 23/12/2023, 03:06:46 UTC
About 20+ days ago ,I sent a transaction with 5000sats fee.

20+ !

It hasn’t been confirmed yet!
First of all, you shouldn't have sent a transaction paying only 5000 satoshis fee. You took the risk and the worst happened. Now you have a stucked transaction on the blockchain. Pray that it's going to be confirmed at some point...

Ok to pay more ,confirmed faster.

But isn’t it ok for pay less confirm slower?
That is the proof the system is decentralized. There isn't a central authority to come and say what should be confirmed next and after. There isn't a middleman to say what is fair and what is unfair regards transactions' confirmations. The system regulates itself following logical rules.

The miners are too centralized,and a lot of dust trans was made every day.
I don't know how centralized the hashrate is right now, but anyway it's not a monopoly. Anyone is free to join the mempool and become a miner.

From A to A with high fee rate! Why does this transaction exist?

I don’t think a normal man would make such a nonsense transaction.
That is what I would say about someone who makes a 5000 satoshis transaction fee in the beginning of a potential bull run. Wink