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3 years ago in LeoFinance by rok-sivante (77)
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Or has there simply been a blind spot in the cult-like favouritism
A blind spot that runs through all cults.. REALITY.
If 'the powers that be' wanted to bring it down - they could.
(thinking anything else is beyond naivety - imo)
Lot's of transactions could definitely clog the system and maybe bring it to a halt.
Bitcoin was great as a proof of concept for cryptocurrency, and it may have long-term value as a standard by which other crypto is measured, or for large transfers, but clearly it is not capable of scaling, and that is where altcoins can shine in day-to-day use. HIVE is already proof that it works to run a no-fee proof-of-stake system.
Oh no!
I believe that if there be too many transactions in one day, there would be slow in delivery and rejection or loss of funds but not a shutdown.
And day after day, indefinitely...?
(And I’m not probing for belief, but for a solid technical reality of what the system dynamics actually are).
Okay
What I find far more interesting is what would happen to decentralized alt-coins if Bitcoin collapses...
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I've been waiting on a BTC transaction to come through for just shy of two weeks now. I guess it is my fault for picking the slowest method because I didn't want to pay the higher fees. I just don't see the point in spending $5 to $10 when I am only moving $50 to $100 around.
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😳
This is exactly the kind of report that makes me confident in selling all my BTC.
Fingers crossed it gets booted back to my account tomorrow. Who knows where the ETH I sent is though.
I finally got my BTC withdrawal refunded 8 days later today. not sure on the fees it took to withdraw and get done today, last week was $23. Finally OUT! No more horse-and-buggy tech for me. Only fucking with tokens that send in seconds for (fractions of) pennies. 😁
ETH too??? Jeezus. Surprisingly, I've even been losing my enthusiasm for Ethereum lately given what's up with gas fees...
Yeah, I am with you on the ETH thing. I just use it because I want to try and get into some of the DeFi stuff on the Binance chain. It has been a total mess though. This waiting two weeks for tokens to show up is nuts. That reminds me, I should go check my Bittrex account.
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Flare.
It's gonna be quite interesting watch how much 'business' it lures away from Ethereum...
I will have to check it out. I know a lot of DeFi stuff is already moving off of ETH and onto BSC.
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No offence,though I’ve said everything I need to say about EOS here last week. 😹
Nonetheless, that’s a pretty impressive plan. 😎