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RE: A Word of Caution for Poloniex Users and Traders
I started on bittrex when its fee was 0.0002 BTC to withdraw.... I switched to Poloniex because their fee is only 0.0001 BTC to withdraw. However, it appears the BTC network partially uses fees to prioritize things. I've had a withdrawal take 22 hours recently. So I started using bittrex again but their fee is now 0.001 btc which is 10x the cost of poloniex. It is stuff like this that makes me hopeful that one day we won't need to use BTC as a middleman to convert to fiat if we need to make purchases with fiat.
This is a valid point @dwinblood and one of the reasons I tell new traders/investors to move things other than BTC between exchanges. Coinbase is now allowing ETH and LTC sells and both of those are dramatically quicker.
Yeah, but using Coinbase is like asking the big brother: "Please, spy on me"
I am sure there will be more currency exchanges or another way to transact that is free or a smaller fraction than what either of these two charge. I do like the trollbox on polo though! Now following you @dwinblood.
It only means that all cryptocurrencies are dependent to bitcoin. Without it, we could not cash out.
Apparently coinbase will let you use LTC or ETH instead of BTC and I believe they have a VISA you can charge up too. So there may be other options. Also what you described is NOW. That could quickly change and with the slowness I expect it eventually will.
But the problem with coinbase is that they are not yet doing business towards our country, philippines.
Bitshares DEX is 0% fee to withdraw
0.07 BTS fee to trade, that's $0.063 - and that is currently HIGH because of the increase in BTS (what like 500 or 600% since the beginning of this year? Fees get adjusted once a quarter. Bitshares was paying its witnesses plenty when fees were much lower.
Decentralized? Yes. Low trading fees? Yes. Withdrawal limits? No.
The only reason why we don't have volume is because "the uneducated" wont trade there... idk out of stupidity?
Looks good, will try it out soon!