Transaction delays does make a person want to sell or purchase Bitcoin though with Bitcoin transactions having a negative impact on the price, the price of bitcoin will only affect the price short-term. There is a general view that Bitcoin will have a very expensive price in the near future and the cost for the transactions are nothing compared to it right now.
It is not a big deal, prices of Bitcoin can be increase or decrease with time. It's not like it can affect its value. Transaction cost increasing could make people hold it till it most increased price. Until it will and them the highest level profit. So people buy Bitcoins and are ready to invest in it or to trade it with time. Transaction cost are nothing as compared to its price now a days.
Topic: are transaction delays crashing Bitcoin prices? - page 3. (Read 2057 times)
Good question. Well, I don't think it is affecting the current bitcoin price as I believe that there are many institutional investors entered into the Bitcoin and they booked their profits when Bitcoin touched $3K so transaction delays are not affecting the current price but yes, it is something that is restricting the further growth. There are many businesses out there who are willing to give a try to the bitcoin for their financial fund transfers but since there are the aspects like price volatility and fluctuating transaction fees, they are currently preferring to stay on wait & watch mode and hence it is affecting further growth.
I think so it is,some users got pissed off with this so fucking slow transactions and they ended up just selling at low rate and switching into other altcoins or even stop using cryptocurrencies
How can you think like this , Instead of negative you should think in positive ways because increase in the fee of the Bitcoin prices results into pay high fee during the transaction and that amount of fee is going for those miners who are mining Bitcoin and spending Thier electricity .This will surely help to anyone to get earn more with the Bitcoin , and also if everyone will use high fee for the transaction then this will results into buy of bulk Bitcoin amount instead of small , so this results into increase in the price and increase in the demand more .
Moreover the actual reason of increase in the price is the competition , because when demand going on increasing then unlimited numbers of the transaction happened at the same time , and high fee transaction get include in the block fir then rest of them will get kicked in backed blocked and so on .
So why we should blain Bitcoin network for higher fee , and also Thier is factor that transaction fee depends upon the input and output numbers of the transaction Bitcoin amount .
It has more to do with the attitude of the exchanges. Along with the miners, the exchanges have also become greedy. They increased the withdrawal fees by as much as 1,000% when the minimum mandatory fee for instant conformation shot up. But now the mandatory minimum is back to normal rates, and the exchanges are not ready to decrease their fees.
which exchange did increase the withdrawal fees by 1000%?!! are you sure you are not making a mathematical mistake while calculating that percentage? all the exchanges i know increased the fees about 2x and to 0.001BTC which is not that bad since the transaction fees are nearly as much. and i think they raised it by that much to be safe and don't have to change it another time if it went up more.
I think so it is,some users got pissed off with this so fucking slow transactions and they ended up just selling at low rate and switching into other altcoins or even stop using cryptocurrencies
Its just normal i think,its not the transactions who pushes up bitcoins price down in fact i think delayed transaction somewhat help in pumping ithink specially for transaction that is for cashout that is being hold
I think the fee is adjusting bitcoin transaction on that time as I know there are many transaction happen so there are tons of unconfirmed transaction that must be complete by miner
Maybe if we hold and wait a little longer, the fee will turn into normal
It has more to do with the attitude of the exchanges. Along with the miners, the exchanges have also become greedy. They increased the withdrawal fees by as much as 1,000% when the minimum mandatory fee for instant conformation shot up. But now the mandatory minimum is back to normal rates, and the exchanges are not ready to decrease their fees.
Or probably the notion that they are in a rush for the money or just agitated to hold a money. So upon some price increase or the btc it is just but normal that the fee also increases. That is just part of the success of for the part of the btc. But for lowly traders just us then there absolutely nothing we could do so we just have to adjust and just appreciate btc and not always hold grudges against it.
It has more to do with the attitude of the exchanges. Along with the miners, the exchanges have also become greedy. They increased the withdrawal fees by as much as 1,000% when the minimum mandatory fee for instant conformation shot up. But now the mandatory minimum is back to normal rates, and the exchanges are not ready to decrease their fees.
Its just normal i think,its not the transactions who pushes up bitcoins price down in fact i think delayed transaction somewhat help in pumping ithink specially for transaction that is for cashout that is being hold
transaction delay will make the value shot higher, because people need to pay more which force them to buy more bitcoin, it's a win win for miners and they like the way it is now
so no i think it's the opposite, the limit on the block for the moment will help the value go a bit higher, what you noticed is just a coincidence...
this same thign happened at $2500 when we went again to $2k, the average fee at that time was around the same as now
You are right and I hope there is a discussion about bitcoin unlimited and if it's useful adopt it. Because a lot of my friend's here who gamble with me now pay me and take from me payment as bitcoins and we really love it, but paying high fees and waiting for confirmation hurts really bad.so no i think it's the opposite, the limit on the block for the moment will help the value go a bit higher, what you noticed is just a coincidence...
this same thign happened at $2500 when we went again to $2k, the average fee at that time was around the same as now
Please guys find a solution or make a high enough fees that people don't transact those tiny and dust amounts which clog up the blockchain.
Transaction delays does make a person want to sell or purchase Bitcoin though with Bitcoin transactions having a negative impact on the price, the price of bitcoin will only affect the price short-term. There is a general view that Bitcoin will have a very expensive price in the near future and the cost for the transactions are nothing compared to it right now.
It is not a big deal, prices of Bitcoin can be increase or decrease with time. It's not like it can affect its value. Transaction cost increasing could make people hold it till it most increased price. Until it will and them the highest level profit. So people buy Bitcoins and are ready to invest in it or to trade it with time. Transaction cost are nothing as compared to its price now a days.
What I have observed is that some large exchanges like Coinbase crash when we reach new record high prices. When these exchanges come online again, you will see a small spike in transaction volumes. You have to remember that not all transactions goes through the Blockchain, because most trades are done off-chain. It only goes on-chain when you transfer from one Bitcoin address to another. < Out of the exchange and into the exchange >
So yes, it has a small influence in my opinion. ^smile^
So yes, it has a small influence in my opinion. ^smile^
transaction delay will make the value shot higher, because people need to pay more which force them to buy more bitcoin, it's a win win for miners and they like the way it is now
so no i think it's the opposite, the limit on the block for the moment will help the value go a bit higher, what you noticed is just a coincidence...
this same thign happened at $2500 when we went again to $2k, the average fee at that time was around the same as now
so no i think it's the opposite, the limit on the block for the moment will help the value go a bit higher, what you noticed is just a coincidence...
this same thign happened at $2500 when we went again to $2k, the average fee at that time was around the same as now
the higher fees started earlier this year when price was still around $1000 and the problem persisted until today in the same manner. and ever since the beginning of this year price has been rising upwards and we are ~150% above the price at the beginning of the year.
this means the higher fees issue didn't have that big a effect on bitcoin price and also what you are calling a "crash" is a simple correction of price as others have also mentioned. and we are still in profit compared to couple of months ago!!
this means the higher fees issue didn't have that big a effect on bitcoin price and also what you are calling a "crash" is a simple correction of price as others have also mentioned. and we are still in profit compared to couple of months ago!!
I've noticed that whenever BTC gets near to $3000, transaction costs go up and payments start getting stuck. The next day it seems to crash down again. Is this a coincidence?
I think that is the normal transformation of a coin, the value of bitcoin increase steady decline, this shows a stable and stable growth. If a currency is always rising, it can collapse at any time.
I've noticed that whenever BTC gets near to $3000, transaction costs go up and payments start getting stuck. The next day it seems to crash down again. Is this a coincidence?
From what i remember the transaction charges were lower than where it was last week because the number of transactions were lower and the transaction charges are determined not by the price of bitcoin,it depends upon the number of transactions at a given time.The correction is simply because it did not have enough strength to breach three thousand dollars.
like everyone said its not the transaction delay but its just the correction which make this things happen there's no relation with the transaction its just the people who already thinks that they already gaining a lot that's why they are selling and converting their btc to fiat and the price slowly moving down.
I've noticed that whenever BTC gets near to $3000, transaction costs go up and payments start getting stuck. The next day it seems to crash down again. Is this a coincidence?
Transaction cost in terms of USD value will really increase because of an obvious reason that bitcoin price is increasing. But in terms of bitcoin value, I can't see that it was costing up too whenever there is a rally. Seems like an average of 100k-200k satoshis. Maybe you noticed that because of the wallet you used?
We can really sees high transaction cost because of massive demand. For me it doesn't matter as long as confirmation time is not taking too much time.
I've noticed that whenever BTC gets near to $3000, transaction costs go up and payments start getting stuck. The next day it seems to crash down again. Is this a coincidence?
No this is not coincidence , The reason is usual and simple to understand . When the price of the but the get rise then it means the demand of the Bitcoin getting rise ,.so due to more transaction the fee for the transaction get increases ( because of the competition to increase in making the transaction confirmation speedly ) .So here we can say increase in the fee is not a reason to down the price in the Bitcoin , because all that depends upon the demand , if demand will go down then 100% sure that most of the people will stop to make deals and will down the competition to pay high fee .
And also it is seen by us that when the price of the Bitcoin is increasing then price get fluctuate more from exchange to exchange and making the greediness in our mind to make money from trading from exchange to exchange with fast confirmation .
I've noticed that whenever BTC gets near to $3000, transaction costs go up and payments start getting stuck. The next day it seems to crash down again. Is this a coincidence?
No, if the market is full aka no more space or the fees are to high people will move their coins to the next fastest cryptocurrency of choice, it explains the altcoin spike effect to an extent and the boost to Ethereum because of the lack of action on BTC's side and our timeline on this issue not being resolved for at least a few more months in one form or another.
Delays scare new and old users especially since it produces uncertainty of when the dang txt will process if the fee was set to low.
Jump to: