RE: Bitcoin Bounces Back Again - Beginning Of The End... Or Bump In The Road?
and with the price of Bitcoin so high there is a tremendous incentive for Bitcoin miners to produce as many as possible right now.
Really? The miners determine the rate bitoin is produced? And here I thought the fact that it was written into the blockchain was what determined it.
Is it a payment network? Yes but it is tough to scale and does not charge a transaction fee.
No transaction fee....tell that to everyone sending bitcoin right now that are charged a fee of $20-$40.
recently called the cryptocurrency the "most risky investment you can make," after he switched to bitcoin cash, which he considers to be the future.
So the old bitcoin network is useless but a new chain that handles 18 transactions per second versus 8 is the future? Oh boy.
The naysayers are either clueless or part of the establishment beating the non-bitcoin drum in hopes of driving down the price to get it cheap themselves.
The elites are buying bitcoin while the sheeple are scared away from it by the talking heads on TV and the Internet.
Gee, this is something different.
The part with the transaction fee is actually hilarious ! I think that the majority of people, who want bitcoin at 4-5000 $, want it there so they can buy. No one wants to be the loser, who missed an unicorn investment.
The current transaction fee's make the 'classic' Bitcoin basically unusable for the normal consumer.
A few months ago I could buy $80 worth of BTC to buy some extra Steem. Today the transaction from fiat-to-BTC service to the exchange would take up most of the funds by the transaction cost alone.
It's not worth it anymore, unless you are moving thousands of dollars. Which is a very risky venture for the average household.
Totally agree. There a lot better alternatives to move money around - STEEM for example is great for such purposes (and not only).