Bitcoin Fees Have Become Infeasible
Bitcoin Fees Have Become Infeasible
In 2013, one bitcoin cost $20. In 2017, it costs $20 to send one bitcoin.
Everyone has their price, a dollar figure at which they’d be willing to sell bitcoin, and also a figure they’re willing to pay to send it. Paying $20 to transfer $10 million of bitcoin seems reasonable. Paying the same amount to send $100 worth seems ridiculous. Bitcoin has been unsuitable for micro-transactions for some time, but it’s now reaching a stage where it’s unsuitable for mid-sized transactions.
Is bitcoin a store of wealth because that’s its best use case, or has it simply morphed into one because no one can afford to move it?
Read more....
Source:https://news.bitcoin.com/bitcoin-fees-have-become-infeasible/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
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