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?
It is not a coincidence. People are converting their money into ethereum and other altcoins in order to avoid being delayed on the bitcoin blockchain. The bitcoin blockchain now can not maintain a huge number of users and because of that fact, they are finding an optional choice for their property 
Topic: are transaction delays crashing Bitcoin prices? - page 4. (Read 2057 times)
legendary
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When the price just significantly increasing, the amount of transaction also increases, thus, the blockchain is overloaded and people will set their transaction fee at its peak expecting to be confirmed within few minutes and few next blocks. Therefore, the recommendation fee will also increase, it's a normal thing to happen, but, if you're thinking that it's the factor which makes the bitcoin prices crashing, you're wrong. I think that this delay will be lowering the amount of supply and make the price even go higher. just my 2 cents though.
This seems to be an misinterpretation. Price increase and decrease is quite common with bitcoin, now as more transactions have stuck to the network people have made a bridging between the price crash and the transaction fee.
Yeah, I think they are. The massive transaction delays cause people rethink before they send transactions. Some people have never had their transactions sent. I have seen a huge migration to other cryptocurrencies lately. I blame transaction times. We need a solution for this problem, fast.
legendary
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slow transactions and high fees do not help bitcoin.
bitcoin cannot be digital gold without being a payment system. to the extent its a great payment system, it will be extremely valuable.
bitcoin cannot be digital gold without being a payment system. to the extent its a great payment system, it will be extremely valuable.
Bitcoin price hasn't crashed. We are in a correction that will end in 4 days (end of 2016 interval).
price is dropping due to correction, not stuck transactions. It might get worse when segwit tries to kick in later, but thats another story for another day.
I think it does not largely affect the BTC price, for example some of us are just using btc as an investment and its rare for us to transact large amounts, that's why we are not really affected by these slow transactions but this is a sign that this must be fix, especially when bitcoin is gonna be a world currency. A currency that must be used worldwide must be efficient and worry free in the speed of transactions.
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?
first of all learn which board to post, this belongs to speculation board.
secondly learn what a crash is and what a correction accompanied by panic sellers is.
this one is a correction of the current rally from $2000 to $3000 and correction to $2600. and it will always be crazy big when the exchanges are small and newbie panic sellers are there to feed the whales.
also, no it has nothing to do with transaction delays. there is no delay there is only higher fees and investors/traders showed in the past 6 months that they don't care about that at all.
I don't think it's the reason why BTC price drops. If that was true the price wouldn't recover every new day.
Transaction costs increasing could make people hold it more (until the price of transaction decreases), so people will want to buy it, but there won't be many sellers, so the price would increase, because the supply isn't enough for the demand.
Price is decreasing and recovering every new day, I think it's normal and the market is very balanced between supply and demand, it just need to find a common sense to stabilize the price once again like in the past.
Transaction costs increasing could make people hold it more (until the price of transaction decreases), so people will want to buy it, but there won't be many sellers, so the price would increase, because the supply isn't enough for the demand.
Price is decreasing and recovering every new day, I think it's normal and the market is very balanced between supply and demand, it just need to find a common sense to stabilize the price once again like in the past.
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.
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?
Yesterday we hit $3,000 per coin in Bitfinex. There wasn't much delay in the transactions at that point of time. The total number of unconfirmed transactions were around 50,000, but it was much better than the situation we had a few days back. And I don't think that the recent correction was caused as a result of the high transaction fee.
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?
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