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/biz/ - Business & Finance

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25935502 No.25935502 [Reply] [Original]

WTF.
I just bought some stuff online with BTC. Transaction time took only a few seconds and paid almost nothing in fees.

You faggots said it would take a few hours and I would have to pay like 50 dollars in transaction fees.

>> No.25935629

>>25935502
(((You faggots)))

>> No.25935707

>>25935502
I buy drugs with BTC all the time and the confirm time is nothing

>> No.25935739

>>25935502
the vendor chose to accept 0 conf tx because he still has to pack and ship it to you. doesn't matter if you accepts 6-12 confirmations and waits 60-120min or 0 minutes. he still can delay the shipping at the end.

>> No.25935759

>>25935739
He waited for 3 confirmations.

>> No.25935811

Did darknet deliver your infant necrophilia alright?

>> No.25935817

>>25935502
transactions are instant
it's just waiting on confirmations that takes a long time
also a lot of transactions moved over from bitcoin on to the ethereum network as wrapped bitcoin, which is pretty huge for both networks
they've worked on L2 lightning network for bitcoin for years, and they get dunked on by a fucking ERC-20 token

>> No.25936116

>>25935502
Taxable event. I hope you recorded it

>> No.25936156
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25936156

>>25935502
Bitcoin works fantastically when transactions are low (less than 4tx/s). When they get above 4 tx/s they start to slow down and fees naturally increase as everyone tries to get to the head of the line. The bitcoin network maxes out theoretically at about 7tx/s and in reality you won't even get close to that many at a time when blocksize is being constrained to 1MB.

Bitcoin is great but if you're making a lot of transactions I'd use an altcoin like LTC or even XMR (especially if you want privacy). The underlying price of the token doesn't matter for it to be useful as a currency, especially if you're swapping in and out of fiat at both ends. Even DOGE can be used as long as there's sufficient liquidity to swap to/from fiat if that's your game.