Fees too high and not stopping!

[bitbee99]

its crazy how high the fees are getting, its time to pull out of bitcoin,
i made some good profit and im happy with that, but im not willing to invest into something that i can't see becoming mainstream if the fees continue to rise this high,

something is going on, and i can see the fees going up to 10 bucks a transaction! way crazy!
there should be a way to take power from the miners, they must be in control of the fees,
its crazy we cant confirm transactions and take power from the miners



so,

i got 2 questions,

1. are the fees lower in bitcoin unlimited?


2. can i run bitcoin unlimited along site bitcoin core?



its time to look for alternatives

 

[AdrianX]

There is a cartel, it started with a Core / Miner alliance. The cartel is enforcing a 1MB transaction limit that is forcing up fees.

41% of miners have broken from the cartel.
32% are for the cartel
28% are ambivalent (watching and enjoying the spoils - they have not picked a side)

The way to take power away from the Core/mining cartel is to remove the transaction limit.

The Core developers don't have a solution, they have a barrel called segwit that gives a marginal capacity increase and enforces the same 1MB limit allowing high fee pressure to create demand for the new transaction networks they are developing that will be enabled with segwit activation.

in short.

1) BU and Core are the same network so have the same fees.
2) You can lose Core and run BU - they use the same data files - no change.

BU or Classic is an implementation that removes the transaction limit enforced by the Cartel. Ruining it makes support for breaking the cartel stronger.

If miners pick Core - fees go down and transactions move onto layer 2 - and majority of fees move off chain reducing bitcoin security, no one knows what happens.

If miners pick BU - unlimited transaction capacity forces fees to the marginal cost of production miners income comes from transaction volume and scales of economy, I predict bitcoin price to the moon.

all the FUD will confuse investors, so ignore it.

fees are going to get high $10 seems on the low end, I am still holding BTC this issue will resolve with the BS/Core developers losing control (should be decentralized anyway) and miners resorting back to the original satoshi design - Unlimited transaction capacity.

 

[bitbee99]

so what you are saying is there is no incentive for me to move over to unlimited if they are both the same

in the end, the fees suck, but if you have 10 grand and the fee is 100 bucks, the fee doesn't matter, its still huge profit,

but for a normal currency to purchase small things its going farther and farther from that

 

[Bloomie]

He's saying that if enough people switch to Unlimited, the fees will become lower.

 

[AdrianX]

@bitbee99 BU supports the original satoshi version of bitcoin - free transactions should be possible.

I wouldn't hold bitcoin to transact at the moment I would hold it as an investment.