Post
Topic
Board Bitcoin Discussion
Re: I don’t think bitcoin is now decentralized
by
EarnOnVictor
on 24/12/2023, 02:04:51 UTC
About 20+ days ago ,I sent a transaction with 5000sats fee.

20+ !

It hasn’t been confirmed yet!

Ok to pay more ,confirmed faster.

But isn’t it ok for pay less confirm slower?

The miners are too centralized,and a lot of dust trans was made every day.

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.
I share in your frustration and if you get angry more than that, it is worth it as Bitcoin is not living up to the expectations. Frankly, I had many series of posts about the fee issues in the past but people tend to always support the system and believe that my suggestion can't work. But here we are, the so-called perfect system is just being manipulated and monopolised by some sectional people called miners. Thanks to the system.

They had the opportunity and used to go for the highest bidder while the system continues to allow such unabated. Well, I do not see this as a perfect system while other blockchains are experienced seamless transactions with low fees. However, this is not a reason for Bitcoin to be decentralised if you know the true meaning of decentralization. It is just a way to prove the imperfection of the system and the need for developers to still go back to work and curb the menace.