Just sent $745 of BTC for $0.34

in #cryptocurrency6 years ago (edited)

I just wanted to let people know who may not make many BTC transactions due to the high fees that the rapid adoption of Segwit among miners is rapidly decreasing the fees already. People who doubt that BTC can scale are much like the people at the dawn of the internet who said "you can't even send a picture through this thing how will it ever be useful" all of the problems of the original internet have been massively improved upon and at a pace unexpected by most people. The same will happen for BTC and ETH. I believe we are coming close to the tipping point when the technology is far enough developed to start having real practical use cases. 2018 Will be the year of cryptocurrency.

https://cryptoslate.com/top-exchanges-slash-bitcoin-transaction-fees-segwit-adoption-spreads/

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Segwit is great but what I want to know is when its going to be adopted to the hot wallet withdrawals such as Exodus and the cold wallets such as the Nano Ledger S.

I'm in the process of moving all my crypto from the former to the latter and would love an almost zero transaction fee.

Unless you are liquidating your BTC you should simply allow them to sit as they are. Segwit was already adopted by Ledger, when opening your wallet you will see the option to sweep all of your BTC into a Segwit wallet. I am not positive about Exodus but seeing as they are a major player in the wallet game I would say that the same is true for them as well. Make sure you have the latest versions of both apps installed and give it a second look.

I got the BTC to hold, and have ordered a Ledger as I'm not content with holding my BTC in a hot wallet. It should arrive this week from France.

From what I have read, you need to move the BTC out before importing your private keys from the wallet that held the BTC during the snapshot into a new wallet that supports BTCP.

If this is the case, it will be an ideal time to move the BTC from Exodus into the Ledger. Last time I checked the withdrawal fees on Exodus (BTC) it was around $4 dollars, so I'm thinking SegWit has still not been adopted... yet.

I use a ledger as well and mine came from France too. Be sure you ordered it from the official company and that you make sure it was not tampered with as some people have gotten them, used them for a few months only to have someone empty the accounts because they had already stolen the private keys in transit or from unauthorized sellers.

Yes, I heard about some of these horror stories! I'm quite sure its a real one though, as it was from here:

https://www.ledgerwallet.com - 94.80 €

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