Topic: Bitcoin is best at 1k (Read 307 times)
If bitcoin on price 1k maybe altcoin will not be worth much market capitalization will decrease. Bitcoin has a huge influence on the crypto market.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
I agree with you, bitcoin was much more better back then, it was more stable and more convenient to make transaction but know it has become a ruckus trying to send bitcoin.
I do not agree with that, I do not think bitcoin prices will go back to that price, if there will be a big dump it will not last long as many investors will re-stabilize the price. I think the reason for the congestion that often happens because now bitcoin is very famous and many people who make transactions with it.
I dont agree with the price, but yes with the fees/miners problems.
I was almost held during 1 month because I couldnt made a single transaction coz of fees. (I received 100s of micropayments in my Trezor, so each of them was at least 192bytes to pay fee for, I tried it and it would cost 60% of the amount to send) I hate fees, even now that are cheaper, its eating 6-9% just to send a transfer.
Now, I was able to move most of this microbalances, but believe me I needed to add my private seed to Electrum and select exactly from what address I wanted to send money from and discard every single change address with small balances (less than 0.001) because fees just eat the whole balance. I actually have about $2,500 deposited into change-address waiting for the lighting network so I can at least recover this money, by the way, this money was like $4,500 when the fees probem appeared in December.
Now, everytime I want to move money from exchanger to exchanger I do BTC-LTC / exchanger / LTC-BTC again...
And forget about small payments, I needed to move all payments from BTC to PayPal or Credit Card...
I really hate how the miners from China abused of this system, but I love BTC
I was almost held during 1 month because I couldnt made a single transaction coz of fees. (I received 100s of micropayments in my Trezor, so each of them was at least 192bytes to pay fee for, I tried it and it would cost 60% of the amount to send) I hate fees, even now that are cheaper, its eating 6-9% just to send a transfer.
Now, I was able to move most of this microbalances, but believe me I needed to add my private seed to Electrum and select exactly from what address I wanted to send money from and discard every single change address with small balances (less than 0.001) because fees just eat the whole balance. I actually have about $2,500 deposited into change-address waiting for the lighting network so I can at least recover this money, by the way, this money was like $4,500 when the fees probem appeared in December.
Now, everytime I want to move money from exchanger to exchanger I do BTC-LTC / exchanger / LTC-BTC again...
And forget about small payments, I needed to move all payments from BTC to PayPal or Credit Card...
I really hate how the miners from China abused of this system, but I love BTC
I can feel your concerns I feel the same way especially when I need to send small amount, but I have heard that they will upgrade to lightening network to make transaction instant and with small fee.
Investors won't agree but i feel as if the average user would.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
Scaling will eventually be solved and Bitcoin will be just as quick and efficient as it was around its inception. Just be patient.
As a currency it was for sure better because you could transact in a free manner without worrying about fees and waiting time but that is not the case today. Have faith though I believe we will get to a spot which is better for fees and time better than we have ever seen previous with bitcoin!
Between the pros and cons / agree and disagree, this answer will appear here. I myself include people who don`t agree if bitcoin will be $ 1k.
How does a small investor pay such a large fee. $ 1k will benefit only large whales, as they will finish bitcoin in the market by buying as much bitcoin as possible.
How does a small investor pay such a large fee. $ 1k will benefit only large whales, as they will finish bitcoin in the market by buying as much bitcoin as possible.
Investors won't agree but i feel as if the average user would.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
there is a twofold situation. on the one hand, the price increase is good, Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
and the other increase in the commission (in dollar terms) is bad.
that is why it is more profitable for us to make transfers in other coins.
Investors won't agree but i feel as if the average user would.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
I agree at some point, but you need to understand that if bitcoin goes back to $1000 again, NOBODY is going to buy it, the same happens right now, there are less people buying than selling because they are only here to make "millions" they do not care about fees.
Investors won't agree but i feel as if the average user would.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
I am an investor and no it can't go back to $1000. I am not disagreeing with you because I might lose out, I am disagreeing because I see your point as been pointless. We know the transaction fee of bitcoin is high and If you have a problem with it then stop using it as a means of transaction. You might hate to hear it but this coin is good for investing.This is technology man. Technology does not decrease but it grows. Yes, the price might low but it will not be on a price of $1000. Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
A lot of people want to buy it, there is too much demand so bitcoin's price can't stay $1k or even $10k because the supply is very low.
I have to disagree with you on that. Cryptocurrency needs to evolve and grow for it to be mainstream. We already know that blockchain technology will be the future and it is only a matter of time before it is widely adopted. Like all technology, we saw the flaws of bitcoin and other cryptos like railblocks, iota, and cardano are offering solutions. I can use the same comparison to back in the AOL, Netzero, and Netscape days of Internet 1.0. Imagine still using dial up? So yea, Bitcoin will be obsolete soon and will only be used as a store of value.
Correct me if I am wrong, but a currency or platform that makes changing one coin for another easier and reduces the high transaction cost of mined currencies would a) be a step in development and would b) make adoption easier.I am well aware that there are some tokens that already aim for that direction - for example bancor. But bancor is a ERC20 token and I know a lot of users that are complaining about really high gas prices when they want to exchange. I know that this is a long road we still have to go, but I think for a really good adoption by "everyday people" a lot needs to happen to simplify the buying process (talking about most alts and tokens here, buying btc or eth is fairly easy already). But try to explain your spouse or your parents how to buy coins on an exchange or what to do with your coins should something ever happen to you.
Alas, yes. Bitcoin has risen in development and has become only a gold mine for investors, but I'm sure that soon there will be replacements.
Investors won't agree but i feel as if the average user would.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
For the actual use case of bitcoin then there's no doubt, it's probably got progressively worse but that's the price you pay with increased uptake. I don't feel like it should be a case of needing to return to lower price levels to restore things to how they should be, more that more innovative and effective solutions need to be put forward and adopted.
I have to disagree with you on that. Cryptocurrency needs to evolve and grow for it to be mainstream. We already know that blockchain technology will be the future and it is only a matter of time before it is widely adopted. Like all technology, we saw the flaws of bitcoin and other cryptos like railblocks, iota, and cardano are offering solutions. I can use the same comparison to back in the AOL, Netzero, and Netscape days of Internet 1.0. Imagine still using dial up? So yea, Bitcoin will be obsolete soon and will only be used as a store of value.
I think what the cryptoworld need is a much more stable coin as currency of trade and not BTC.
Let each of the alts sink or swim on their own and not rely on BTC. BTC causes tidal waves that disrupt the entire crypto right now. It helps many times but in general, it reflects too much volatility.
It was necessary then but I think we should start migrating to another coin currency for trade.
Don't mind me, just rambling.
Let each of the alts sink or swim on their own and not rely on BTC. BTC causes tidal waves that disrupt the entire crypto right now. It helps many times but in general, it reflects too much volatility.
It was necessary then but I think we should start migrating to another coin currency for trade.
Don't mind me, just rambling.
Rambling or not - it would be great. A lot of exchanges listed ETH pairs for most currencies, but lately ethereum transactions are no fun either. Trading has become really expensive lately if you don't want to have your coins stored on the exchanges.
Probably what you are saying is true because if the price is as low as 1000$ bitcoin is more stable and more people would be able to buy 1 bitcoin. I dont think that is possible to happen. Bitcoin can fall to 5000$ but I dont see it going lower because that would be the biggest crash ever and a lot of investors will lose huge amounts of money.
The fees were a lot smaller back then when you would have to pay only 0.5$ for every transaction even if it was a 500$ transaction. But soon when the lightning network will be implemented those fees are going to come back and we will be able to make more transaction, easier.
The fees were a lot smaller back then when you would have to pay only 0.5$ for every transaction even if it was a 500$ transaction. But soon when the lightning network will be implemented those fees are going to come back and we will be able to make more transaction, easier.
I think what the cryptoworld need is a much more stable coin as currency of trade and not BTC.
Let each of the alts sink or swim on their own and not rely on BTC. BTC causes tidal waves that disrupt the entire crypto right now. It helps many times but in general, it reflects too much volatility.
It was necessary then but I think we should start migrating to another coin currency for trade.
Don't mind me, just rambling.
Let each of the alts sink or swim on their own and not rely on BTC. BTC causes tidal waves that disrupt the entire crypto right now. It helps many times but in general, it reflects too much volatility.
It was necessary then but I think we should start migrating to another coin currency for trade.
Don't mind me, just rambling.
Investors won't agree but i feel as if the average user would.
Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
Damn, what a flawed argument, how much you get for creating this thread mate? You smoking or what?Back when bitcoin was 1k it was so much better than how it is now. Massive fees, bottlenecking, etc. too many people riding.
When bitcoin was $1K where were you that time? Did you enjoy using bitcoin back then?
And Yes, investors won't agree because the market is already half a Trillion already and bitcoin dominates 1/3 of it. Seriously, you need to go back and try to learn how bitcoin evolves. No one doesn't like bitcoin to go to $1K no more, this is 2018 mate.
And if you have problems with the high cost of tx fees and slow confirmations, you can go to altcoins markets, I'm sure you can find a lot of coins with immediate confirmations, but I really doubt that you will go there, because the bitcoin market is where the money is.
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