However this would present challenges for bitcoin users as the transaction fees will go to $2-3 on average for each transaction once bitcoin hits $2,000. And that's crazy. I used to send 20 transactions or even more per day for a dollar, and if i did that now that would have been $50-60 a day. Not to mention all my transactions were microtransactions with dust amounts and multiple inputs and outputs... Probably would cost closer to $100 a day just to send these
Personally, I stick to a different opinion
I don't think that low fees are actually as important for reaching higher prices as many people around here are inclined to think. How come? Prices are determined on exchanges, but people that are trading there rarely move their coins, and when they move them they certainly move large amounts or use cheap altcoins such as Litecoin as a transfer vehicle if they don't want to pay hefty taxes. So we may see both prices and fees rising at the same time (in Bitcoin terms as well), and that may last for long
It does indeed look like the days of small transactions with Bitcoin are coming to an end. But, I still think that high fees and long confirmation times are very bad for Bitcoin, those will scare off potential new users.
Fees *seem* to have been rising faster than BTC price has. So sending (or receiving, in my case Sig Campaign payments) look to be a more serious matter (longer confirmation). We'll have to see how that goes.
I suppose I need to look at some of the "Alt Threads" to see which are commonly used, are liquid, etc. *Sigh* Another learning curve...
