Wow flair because no rant flair remove it if it breaks a rule idc. Mobile phone so formatting sucks
I'm so frustrated with bitcoin and retarded market that follows it. I decided this past weekend in anticipation of the coming feepocalypse to consolidate my coins onto a segwit address on my ledger while fees are still low. Something ive been putting off for a while because fuck segwit.
Ive been making transactions for over 2 years now so my wallet is pretty fragmented. My old wallet on Exodus was showing that I would lose over $100 in fees to make this 600 byte transaction. Uh no thanks, the fucking mempool is showing the last block cleared some 1 sat/byte transactions. So I had to import my private key into an electrum wallet and customize it so that it wouldn't generate a change address (free extra BTC for miners? No. Jesus christ, I'm already getting raped) and manually set the fee to 10 sat/byte, a $0.50 transaction this should easily clear next block or maybe in a few and the next block should be in approximately 2 minutes.
5 minutes go by. 10 minutes. 20, 30, 40 fucking minutes with no block! By this time my transaction is behind thousands of others up to 150 sat/byte.... If this was a critical transaction then bitcoin would have lost my bussiness forever. Bitcoin has a shitty user experience. Even though I was ok waiting for a few blocks with a low fee it's so frustrating when one block randomly takes so long that it's possible your transaction could be delayed by days or forever due to the nature of the genious "fee market" just because bitcoin randomness decided to screw you. It eventually went through after a few hours. I though this was supposed to be the next big thing, this was supposed to be powerful and replace banks, but it felt like I was a getting scammed by big bank 2.0.
My next though is why aren't I using the real bitcoin, the one that works? BCH. Oh yeah because the markets are retarded, not only is it worth only 5% of BTC'S value, it's been losing ground since it was created. Even though its innovating and growing, no one wants it. I hold a non trivial amount of BCH but I just cant justify adding more or even approaching the dollar value of my BTC holdings because it's a loser, it lost to the corrupt BTC shitcoin just like every other fork and it is fading into irrelevance just like the rest of the Bitcoin forks.
So no matter how much I love the idea of crypto I'm stuck, forced to hold a coin I hate, that doesnt work, just so I don't get crushed into nothingness by the shills and useful idiots that follow them with their investments.
Markets can remain irrational longer than you can remain solvent.
I will sell my BTC once the mempool stops clearing on the weekends, probably for good. As that's usually right before the shit hits the fan and fees go exponential. Unless people start waking up to BCH or BTC decides to scale it's not worth holding a large percentage of my net worth in crypto anymore.
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from Bitcoin - The Internet of Money http://bit.ly/2KvHUoi
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