Friday 4 March 2016

Bitcoin is under attack from the mainstream media


On forbes, on the verge and buisness insider even here on reddit and various other places on the web a story has been emerging that bitcoin is collapsing because its nearing capacity. The mainstream media has tried since the beginning to take out bitcoin by among other things associating bitcoins with organised crime and even terrorism.Im not saying its a problem, but this time it seems like a portion of the community is actually in on it. There is nothing else to say, than bitcoin has been "running at full capacity" for weeks now. Yet the network is not collapsing, however some people are learning the hard way. They get transactions stuck because they dont know they have to pay attention to transaction fees. 21 Inc. did the right thing by making a site which helps determine what fee is appropriate. But the problem is some wallets use a different metric. In due time a standard for how to measure and determine fees will emerge and it seems like the x amount per kb per satoshi is winning out. Wallets, exchanges etc. will need to adapt, and as they do we will be hearing less of delayed and stuck transactions, and we will show once again the mainstream media were wrong about bitcoin. Have a nice day. via /r/Bitcoin http://bit.ly/21KjWt8

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