Read this if you are transferring bitcoins!

I know this is not the subreddit to talk about crypto's but a lot of people here are buying and selling items with bitcoins. In case you don't want to read a lot of the crypto news, these are things you should know:

You guys are allowed to correct me if I'm wrong.


Comments


[6 Points] None:

It isn't going to drop too much, bch is being pumped by one person, there simply switching between bch and Bitcoin, when bch goes up Bitcoin will drop, just another pump-and-dump as soon as it's over bch will go back down and Bitcoin will rise again.

It's actually holding up well and the market needed a correction anyway


[1 Points] RalphiesEye:

Neither of those coins are a threat to bitcoin. They're literally shitcoins... As far as transaction fees go, that's only due to the miners mining Bcash due to profitability, that profitibily is going to drop and they should switch back on Sunday or Monday and things will be normal again. This actually happens quite a bit with other cryptos -- miners pick the most profitable and switch when something else pops up that is more profitable.

Long term; we need to get the mining hashrate out of China (more than 50% rests behind China's great firewall, with speculation as high as 75%). This has caused 80% of the bitcoin issues this year. They're a monopoly all under the Bitmain umbrella. A few companies announced they plan on working on mining chips of their own but they haven't released them yet. Once Bitmain is no longer the sole producer of asic chips, bitcoin's mining & transaction issues will vanish practically overnight.

Think about that for a moment, the sole producer of mining chips also is the largest miner. And they delay releasing them by months to the public so they can make the most amount of money before the difficulty increases. They're an incredibly shady business, with practices that wouldn't be allowed in most other countries.


[1 Points] throwawayk5zq47j6wd3:

My payment got stuck. Nothing has been going on and I transfered the coins on Thursday.

What can I do? Just wait?


[1 Points] vonhazze:

Exactly!! That’s all they do hardly even notice it.