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RE: BAT was on the Move 🚀 Uphold Wallet... 😱
Wow! That's insane. Thanks for the heads up on that. I had no idea. I wonder what's with the increased fee? I just took a look online I couldn't find anything that's one way to make the coin more valuable though, make everybody HODL. FYI binance upped their fee to 8.95 BAT on withdraw.
ETH gas fee is so high right now so all the services are increasing the fees... It is too expensive to move my coins right now 😭
It's a double-edged sword that's for sure. I understand it from the developer perspective and the long-term investor as well. Those guys are probably assuming most real investors are long-term and they're not moving their coins at a volume that would greatly affect their holdings simply based on transaction fees alone. It's also way to keep coins in the hands of people who are proponents of the cryptocurrency, like miners, obviously they want to see the value of the coin go up, or at the very least stabilize. and also making the transaction fees higher will make people think twice before sending it and by hodling the coin it will in essence raise the value. Could you imagine if BAT ended up becoming like Bitcoin as far as price and they maintained the current transaction fee of 10? Would end up costing $100,000 to send? We'd have a whole new market for new miners at that point for sure...Bitcoin at one time cost next to nothing to send, now the cost is about about $10 per transaction. Exciting times I look forward to see what happens next in the crypto world!
Yeah somebody else told me the same thing :)
It is very interesting, but hopefully they will find a way to reduce transaction fees otherwise some people like me will be left behind 😂