Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: bdamenaakter on September 29, 2018, 08:49:31 PM
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Cory Johnson, Ripple Chief Market Strategist said that "Bitcoin is slow when you talk about moving money" in a recent discussion on the future of blockchain and cryptocurrency @ foxbusiness.com.
Following this comment, Ripple tweeted on its official twitter page that
“Money should move as fast as ideas move as fast as data moves and right now it doesn’t.”
While i strongly agree to Ripples tweet, i turn to ponder over exactly what Cory John has experience with Bitcoin. So i gave it a try, and the transaction experience is nothing better to write home about nor keep mute over
Anyways before i draw any conclusions. I just want to find out if
1. You agree or disagree with Ripples tweet.
2. You agree or disagree with Cory John assertion.
However before you comment on the Number two. You should have had an experience with transferring money with Bitcoin in the past couple of Weeks.
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I think that depends by the fee which you use to make transaction, more bigger fee that can make the transaction faster.
Many people know if the fee of Bitcoin is expensive enough but why many people still using bitcoin? Bitcoin have their special character, that like for long term investment and universal crypto payment, because almost all exchange there we can find Bitcoin, that's like a king of crypto, so many people will be believe with bitcoin and use it.
And how about Ripple? they also have their character and advantages, maybe for more faster transaction or another thing, I don't know because I never using Ripple untill at this time.
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Well on my part we are connected to an exchange that gives us a chance to easily move money as if the transactions are all easily done in seconds. Though I did understand technically that there was a lot of waiting on the exchanges side but on our side we don't bother about this because the exchange guarantees quick money movements. On the case of a real direct exchange, I knew it would take sometime, maybe about an hour before things are done and it is a disadvantage for using bitcoin. This is probably because of the volume of transactions that needs to be processed within an amount of time. And yes this needs to be fixed as time is money and so I would agree on both of them.
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When carrying out transactions, If you are willing to pay huge fees, then the transaction will be faster but cheaper fees makes the transactions much slower. If you want faster transactions, then you must have a lot of Ethereal for gas price.
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Although before some months ago bitcoin moving money l means transactions was very slow but now l think it is improvmentioned of a speed. I think now lot of people are satisfied about bitcoin transactions.
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Well on my part we are connected to an exchange that gives us a chance to easily move money as if the transactions are all easily done in seconds.
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this depends on the free use, usually if the screen is low the process of transferring money is also slow .
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on my side, I am connected with exchanges that provide opportunities to move money quickly and easily as if all transactions are easy to do in seconds. even though I understand technically that there are many waiting on the exchange side. but on my side I don't care about that because I made a transaction willing to pay a very large fee, the transaction will be faster. but if the cost is cheaper then making the transaction will be weaker.
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yes if I think that depends on the use of fees. usually if it's low then the process of transferring money is also slow. because in my opinion when the transaction you are willing to pay a very large fee then the transaction will be faster.
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this depends on how to move the money, it can just be more free will facilitate the transfer process .
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There's a point on that tweet but since it was from ripple I believe it was just said to promote their platform but this would not change the mind of investors.
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Though I did understand technically that there was a lot of waiting on the exchanges side but on our side we don't bother about this because the exchange guarantees quick money movements. On the case of a real direct exchange, I knew it would take sometime, maybe about an hour before things are done and it is a disadvantage for using bitcoin.