Bitcoin Adoption Up, Confirmation Time Slow, Cryptos Dive

Everyone is talking about the price!

I am running the numbers and this is quite normal. They are ALL down - this is what always happens when bitcoin spikes. Everything is prices in bitcoin so all crypto-coins go negative.

I sold a whole bitcoin yesterday and as usual, the price spikes an hour after I send the coin. All good after waiting for the first confirmation - forty minutes in a cafeteria with one of my regular customers. Last time it was a first time buyer. I was holding $35,000 of his pesos, and he was waiting for his two bitcoins to arrive. Read on to find a possible fix.

So you can blame me for selling bitcoins, spiking the price, and now your Steem digits after the dot go further to the right. It really does not make that big of a difference in the price per Steem after things stabilize. I keep running the numbers and it's really not a huge deal.

Crunching Numbers.

I ran them yesterday and I ran them today

Day	BTC in $	Steem in BTC =	Steem in Dollars
2/20	$1060.00	0.0001116	$0.1183
2/21	$1113.00	0.00009387	$0.1045

This knocks my total Steem holdings down by $700.00 dollars. To put in another way, you are showing a $14.00 loss for each 1000 steem you own for yesterday's price until now. I still say it's time to buy and power up.

The same would be true if you were holding mass amounts of NuShares or Synereo. Again, the red numbers are totally normal when bitcoin decides to spike upward (green when it dives).

Bitcoin Adoption

Above you see standard reactions in "B" "C" & "D" prices due to "A" price moves. Also true is that a rise in demand causes higher prices and also long lines at times. I am talking about bitcoin transfer fees and long wait times. As I mentioned, I sell bitcoins on a regular basis and have for many years. Never have I had to sit with a stranger for over an hour before they see the transaction appear. That is to say "Long Lines"

You can get away from the long lines if you pay extra at the time of transfer. But that makes smaller transactions very wasteful indeed. I am starting to tell my regulars that there will be a $25 dollar charge on transactions. The premium will not impact sales of thousands of dollars, but will weed out the people who want to buy .2 or .3 coins.

What's more, I have started holding Dash in my mobile wallets, moving Dash around from wallet to wallet and then selling to my customers. This way I only have to pay high fees and wait times when pulling ten plus bitcoins out of my cold storage --> Dash. I then transfer smaller amounts, little by little, to my mobile dash wallet based on prearranged deals, I meet with the customer and use a conversion site at the point of sale with fees at 0.0006 - in the sample below that is how much it cost to send $100.00

This was the $100 transaction from the other day. Very smooth and I didn't have to use the overloaded bitcoin blockchain as I load money into my phone and take it off to the corner coffee store to meet people from localbitcoins (the ebay of bitcoin).

In closing...

• The Steem price move is relatively normal! Power up today!
  
• Bitcoin is becoming the Western Union of crypto - so find an alt-coin for smaller transactions.
  

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Sources: My screenshots.

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