Coinify having recently put into stark reality the problems facing Bitcoin right now when they admit: “In the last approximately 30 days, there has been a massive increase in transactions waiting to be confirmed. For example, on the 24th April the peak number of unconfirmed transactions was around 7,000, while yesterday it was over 150,000.”
Hat’s off to them for being open about this – customers love information, whether you are waiting for a bus or your plane is delayed, all you want is up-to-date information.
What is so frustrating about this situation is it doesn’t need to happen…the fact that people are flocking to Bitcoin SHOULD be positive but they are having a bad experience. Why?
The absurdity of the 1MG cap is now so apparent that a child could see the solution with ease. We at CoinGeek have wanted to avoid a Hard Fork but, seriously, take a step back, do your own research and if you don’t come out thinking Bitcoin Unlimited (rather than Core) is the answer then, frankly, you must have an agenda.
It is that simple.
Luckily, the vital and vast pool of Chinese miners, so often ignored in the debate, are seeing the reality of the scenario. As the big banks continue to fight Bitcoin’s progress there will be more bumps in the road for sure but let’s get on board this frighteningly obvious solution, show solidarity and Bitcoin will be stronger at the end of this particular tunnel.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.