I am just posing this question to know what other players think. The social media has already been filled with frustration as Bitcoin users have been experiencing the slowest transactions ever experienced in the network. I have been a victim of this last week. I made a transaction from Blockchain.info wallet to another wallet. The transaction took close to 3 days . This is now worrying as the transactions are also becoming expensive. This is not what Satoshi Designed!
Miners leaving for Bitcoin Cash?
This is already seems so. Bitcoin Cash is already luring Miners to their network which has higher returns. As you may guess, yes a miner will prefer the profitable one; Its business. This has seen the Bitcoin hashrate decreasing by 50%. This is a sharp steep.
Hash rate dive from 8000 to 4000 in a few days
This is not looking good for the Bitcoin network as less and less Bitcoin transaction are now being processed. According to a tweet by @mikerelentlesse BTC is finding 4 blocks an hour and BitcoinCash is finding 43 blocks an hour. The tweet is concluded by- "Satoshi was right. Miners will mine the more profitable chain".
This indicates how bitcoin needs a quick fix others users will end up abandoning the cryptocurrency as well. I zoomed the charts to 30 day view on blockchain.info and the decrease in hashrate is alarming
The network is taking a very long time to confirm transactions unless you pay more.
What is your thoughts, is Bitcoin going to fall? Is it now survival of the fittest?
Join the Smartcash Community and start participating in a crypto that is controlled fully by the community. Drop your email and you will get added to the slack.
I think btc will die soonish (1-5years) it is slow and little transactions per the second, ripple can do 50,000 but btc only does 3-6, but bit coin cash can hopefully solve this soon, one of the things that are killing the network is micro transactions.
Thats a point @abc123456, seems they are making way for other cryptocurrencies to learn from their mistakes
Great informations... my friend his transaction took close to 4 days...and his missed the opportunity to buy some of the crypto's he's interested while the price still cheap and affordable. Btw i'm interested to join the Smartcash Community ...and this is my email : [email protected] .TQ confidence.
I am sending you an invite right away buddie!
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