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Just a couple of years ago Bitcoin users were mocking Western Union for their $5 fee: https://i.imgur.com/bjRILt4.png https://i.imgur.com/bjRILt4.png Now, a m

by txsh 9y ago

Just a couple of years ago Bitcoin users were mocking Western Union for their $5 fee: https://i.imgur.com/bjRILt4.png https://i.imgur.com/bjRILt4.png Now, a mere mention of this will get you banned from /r/bitcoin. It's amazing how quickly the anti-authoritarian spirit of Bitcoin turned on its head.

chipperyman573 9y ago
It's more that the anti-authoritarian spirit of /r/Bitcoin (and from what I hear /r/btc as well) turned on its head, not really bitcoin users as a whole.
- pmorici 9y ago
  /r/btc is not censored like /r/Bitcoin. Bitcoin Cash carries on the original Bitcoin vision of low fees and massive scaling through increasing blocksize.
  - clarents 9y ago
    The "vision" of low fees isn't really distinct to either chain. Low fees are due to a low amount of traffic on the network and blocks that are not full. Bitcoin Cash certainly scales better than BTC with 8x block sizes, but if it had traffic anywhere near the magnitude of Visa then it too would have high fees.
    - pmorici 9y ago
      They are focused on the right things. Bitcoin Cash can grow to Visa levels on chain with today’s tech. Bitcoin Core devs are focused on a pipe dream while the reality in front of them is ignored. https://m.youtube.com/watch?v=sbD0kiTddEs https://m.youtube.com/watch?v=sbD0kiTddEs
- CyberDildonics 9y ago
  /r/btc doesnt censor on keywords and ban users. It also has open moderation logs. It isn't even in the same league as /r/Bitcoin. Post the word 'censorship' on /r/Bitcoin and your comment will be deleted.
watty 9y ago
Really? I've been pretty critical of Bitcoin on /r/bitcoin and haven't been banned.
- goldenkey 9y ago
  Care to provide proof? I was banned for talking about high fees as well...
- olalonde 9y ago
  I am bullish on Bitcoin's long term potential but it's true that /r/bitcoin is heavily censored, I got banned myself for being mildly supportive of Segwit2x. Luckily, it does not represent the entirety, or even a majority of the community (I'm not sure we can even talk of a "community" these days).
- skydv 9y ago
  may be you write with spelling errors?
pen2l 9y ago
Pardon my ignorance, but where's the "bite" of posting this now? Is it so that transferring bitcoin now costs more than $0.01? And the amount being transferred is subject to some consideration? (if so, by whom? and in what way?)
- ufo 9y ago
  Bitcoin transaction fees have skyrocketed. They are around $50 per transaction now. https://blockchain.info/charts/transaction-fees https://blockchain.info/charts/transaction-fees https://blockchain.info/charts/n-transactions https://blockchain.info/charts/n-transactions
  - pen2l 9y ago
    Wow I did not know that. I must confess that I have been only superficially involved with BTC, but I've gotta say, what you've just said: Bitcoin transaction fees have skyrocketed. They are around $50 per transaction now. combined with BTC price continuing to go up, this just spells bubble to me. One user up above said: "If your transaction wants to compete with the limited block space for each transaction, you have to increase your fee" My question is: is there any end in sight where transaction costs might come down? Because otherwise BTC is totally unusable as a currency. I think folks who are really invested in BTC (like the Winklewoss brothers who have holdings above a bil value (in essence, illiquid, as holdings of that amount tend to be) might work to make transactions low using whatever new technology thereby making it a viable monetary platform, otherwise I don't see this thing as not failing spectacularly sometime in the future.
    - ufo 9y ago
      The main cause of high transaction costs is that the demand for transactions has reached the limit for what the bitcoin network can handle (currently 1MB of global transaction data per 10 minutes). There is no general consensus as to how to solve this though and the community is split between "big blockers" and "small blockers". Big blockers believe that it should possible to solve this problem directly, by increasing the block size limit. "Small blockers" argue that this is not a suitable solution in the long term because the block size would need to grow to gigabytes per minute to compete with existing payment networks and that would be technically challenging and politically undesirable (since only a handful of well-connected nodes would be able to handle all that traffic). The promised solution, according to the small blockers, is to add extra layers to the bitcoin network, with things such as the Lightning Network. Regular folk would clear their transactions through payment processors and only these payment processors would still use the original bitcoin network. Big blockers complain that these second-layer solutions are not truly decentralized and do not conform to the original ideals of bitcoin. They also point out that there are lots of unsolved problems and technical challenges for these second layer solutions, which have been constantly "just around the corner" for a long time...
anonymous5133 9y ago
Thank god for bitcoin cash
CryptoPunk 9y ago
This is what frustrates Bitcoin Cash supporters so much. Bitcoin had a scaling roadmap that would have allowed fees to remain very low well into mass-adoption. The Bitcoin Core developers took it upon themselves to change that roadmap and now their supporters accuse anyone who disagrees of being radicals.
- txsh 9y ago
  Don’t know why your post is being faded. You’re absolutely correct.
- CyberDildonics 9y ago
  This is completely true, I don't know who would downvote it, though every time I've been critical of the censorship and propoganda by Bitcoin core I seem to get upvoted slowly and downvoted rapidly.
lostmsu 9y ago
Can't you still send any amount for $5 on Bitcoin?

by txsh 9y ago

chipperyman573 9y ago

It's more that the anti-authoritarian spirit of /r/Bitcoin (and from what I hear /r/btc as well) turned on its head, not really bitcoin users as a whole.

pmorici 9y ago
/r/btc is not censored like /r/Bitcoin. Bitcoin Cash carries on the original Bitcoin vision of low fees and massive scaling through increasing blocksize.
- clarents 9y ago
  The "vision" of low fees isn't really distinct to either chain. Low fees are due to a low amount of traffic on the network and blocks that are not full. Bitcoin Cash certainly scales better than BTC with 8x block sizes, but if it had traffic anywhere near the magnitude of Visa then it too would have high fees.
  - pmorici 9y ago
    They are focused on the right things. Bitcoin Cash can grow to Visa levels on chain with today’s tech. Bitcoin Core devs are focused on a pipe dream while the reality in front of them is ignored. https://m.youtube.com/watch?v=sbD0kiTddEs https://m.youtube.com/watch?v=sbD0kiTddEs
CyberDildonics 9y ago
/r/btc doesnt censor on keywords and ban users. It also has open moderation logs. It isn't even in the same league as /r/Bitcoin. Post the word 'censorship' on /r/Bitcoin and your comment will be deleted.

watty 9y ago

Really? I've been pretty critical of Bitcoin on /r/bitcoin and haven't been banned.

goldenkey 9y ago
Care to provide proof? I was banned for talking about high fees as well...
olalonde 9y ago
I am bullish on Bitcoin's long term potential but it's true that /r/bitcoin is heavily censored, I got banned myself for being mildly supportive of Segwit2x. Luckily, it does not represent the entirety, or even a majority of the community (I'm not sure we can even talk of a "community" these days).
skydv 9y ago
may be you write with spelling errors?

pen2l 9y ago

Pardon my ignorance, but where's the "bite" of posting this now? Is it so that transferring bitcoin now costs more than $0.01? And the amount being transferred is subject to some consideration? (if so, by whom? and in what way?)

ufo 9y ago
Bitcoin transaction fees have skyrocketed. They are around $50 per transaction now. https://blockchain.info/charts/transaction-fees https://blockchain.info/charts/transaction-fees https://blockchain.info/charts/n-transactions https://blockchain.info/charts/n-transactions
- pen2l 9y ago
  Wow I did not know that. I must confess that I have been only superficially involved with BTC, but I've gotta say, what you've just said: Bitcoin transaction fees have skyrocketed. They are around $50 per transaction now. combined with BTC price continuing to go up, this just spells bubble to me. One user up above said: "If your transaction wants to compete with the limited block space for each transaction, you have to increase your fee" My question is: is there any end in sight where transaction costs might come down? Because otherwise BTC is totally unusable as a currency. I think folks who are really invested in BTC (like the Winklewoss brothers who have holdings above a bil value (in essence, illiquid, as holdings of that amount tend to be) might work to make transactions low using whatever new technology thereby making it a viable monetary platform, otherwise I don't see this thing as not failing spectacularly sometime in the future.
  - ufo 9y ago
    The main cause of high transaction costs is that the demand for transactions has reached the limit for what the bitcoin network can handle (currently 1MB of global transaction data per 10 minutes). There is no general consensus as to how to solve this though and the community is split between "big blockers" and "small blockers". Big blockers believe that it should possible to solve this problem directly, by increasing the block size limit. "Small blockers" argue that this is not a suitable solution in the long term because the block size would need to grow to gigabytes per minute to compete with existing payment networks and that would be technically challenging and politically undesirable (since only a handful of well-connected nodes would be able to handle all that traffic). The promised solution, according to the small blockers, is to add extra layers to the bitcoin network, with things such as the Lightning Network. Regular folk would clear their transactions through payment processors and only these payment processors would still use the original bitcoin network. Big blockers complain that these second-layer solutions are not truly decentralized and do not conform to the original ideals of bitcoin. They also point out that there are lots of unsolved problems and technical challenges for these second layer solutions, which have been constantly "just around the corner" for a long time...

anonymous5133 9y ago

Thank god for bitcoin cash

CryptoPunk 9y ago

This is what frustrates Bitcoin Cash supporters so much. Bitcoin had a scaling roadmap that would have allowed fees to remain very low well into mass-adoption. The Bitcoin Core developers took it upon themselves to change that roadmap and now their supporters accuse anyone who disagrees of being radicals.

txsh 9y ago
Don’t know why your post is being faded. You’re absolutely correct.
CyberDildonics 9y ago
This is completely true, I don't know who would downvote it, though every time I've been critical of the censorship and propoganda by Bitcoin core I seem to get upvoted slowly and downvoted rapidly.

lostmsu 9y ago

Can't you still send any amount for $5 on Bitcoin?