I think Bitcoin is more like gold than cash, so yes I agree it's currently impractical to use for many everyday transactions. I wonder if a lot of this is because of its futures listing on the CME? It's going to be very interesting to see the effect of that when it starts!
Let's say you're a small merchant and you made $1000 in profits. This means you'd have to pay 11.4% to withdraw your funds. Bitcoin has become very unpractical for merchants and consumers.
Yeah, unfortunately it is. The fees are an issue and if LN isn't active soon, I'm afraid day-to-day users will just abandon BTC for the cheaper and faster alternatives like LTC and ETH.
It's a shame there isn't some ridiculously quicker currency with zero fees that could be used instead... hmmmmmm... maybe we should all find one and start promoting it.
I think Bitcoin is more like gold than cash, so yes I agree it's currently impractical to use for many everyday transactions. I wonder if a lot of this is because of its futures listing on the CME? It's going to be very interesting to see the effect of that when it starts!
Giggling auhauahuahauh
say goodbye to micro payments :(
not sure whether we should be crying or laughing!
Maybe a bit of both.
Increase of bitcoin's price also results to increased transaction fees.
Let's say you're a small merchant and you made $1000 in profits. This means you'd have to pay 11.4% to withdraw your funds. Bitcoin has become very unpractical for merchants and consumers.
That's pretty big.
Yeah, unfortunately it is. The fees are an issue and if LN isn't active soon, I'm afraid day-to-day users will just abandon BTC for the cheaper and faster alternatives like LTC and ETH.
True enough. Eventually, more people will ought to find another cryptos bec why not? Paying those large fees already eat ups our hard-earned gains.
It's a shame there isn't some ridiculously quicker currency with zero fees that could be used instead... hmmmmmm... maybe we should all find one and start promoting it.
There is one. It starts with S and ends with TEEM 🤑
exactly!
Havent move bitcoin for a long while, seems like not worth the fee at all doing so
That is just crazy !
A transaction might soon cost more than its own value, if not already lol
FFFFFFFFFFFF... that's insanely high! :O
Totally impractical bro, I knew it was bad, but this really breaks it down.
Why it go so up... I not see reason why they must do this..?? it destroys any interest in exchanging it there over time. This what I see.