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0 pointsschmichael8y ago0 comments

Segwit is used in a small fraction of transactions[0] and SegWit2x was cancelled. While the price has skyrocketed the actual transaction rate has barely moved[1].

[0] http://segwit.party/charts/

[1] https://blockchain.info/charts/transactions-per-second?times...

0 comments

Frogolocalypse8y ago

All that demonstrates is that people dont care that much about txn fees. If they did, they would create segwit wallets.

schmichaelOP8y ago

Combined with the low transaction rate I would assume people don't care about Bitcoin as currency -- only as a rapidly appreciating asset. As long as the price keeps skyrocketing why would you ever spend any unless you had no other currency?

Frogolocalypse8y ago

Not really. I have a bitcoin debit card. This essentially puts the money in my wallet into bitcoin. The way bitcoin has been doing over the past year, all it does is make everything reduce in price relative to the time I put the money in the wallet.

qsucvatz8y ago

How can we count votes of people who don't have the money for a single transaction fee? I thought Bitcoin was supposed to be better because it was the cheapest?

Frogolocalypse8y ago

You subsidize them then. Mining isn't free. Running a node isn't free. Bitcoin was never about being cheap, it's about protecting your purchasing power.

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0 pointsschmichael8y ago0 comments

Segwit is used in a small fraction of transactions[0] and SegWit2x was cancelled. While the price has skyrocketed the actual transaction rate has barely moved[1].

[0] http://segwit.party/charts/

[1] https://blockchain.info/charts/transactions-per-second?times...

0 comments

Frogolocalypse8y ago

All that demonstrates is that people dont care that much about txn fees. If they did, they would create segwit wallets.

schmichaelOP8y ago

Frogolocalypse8y ago

qsucvatz8y ago

How can we count votes of people who don't have the money for a single transaction fee? I thought Bitcoin was supposed to be better because it was the cheapest?

Frogolocalypse8y ago

You subsidize them then. Mining isn't free. Running a node isn't free. Bitcoin was never about being cheap, it's about protecting your purchasing power.

j / k navigate · click thread line to collapse