I do not think that in current market situation the gambling investment will be a good idea, you can put that money and trading that will give much more solid Returns. I have also invested in a site called bitconnect you can try that too it pays 1% daily and it pays up to 10 months after that you will get your invested amount back. No offence but I see gambling as a game of fun where we put some money just for fun not for earning.
1% a day seems like hyip (gambling) to me.
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Don't use the wallets default set fee, that fee is usually like 300-400 Sats/byte and its a waste of money.
I agree with you that the wallet default fees are unnecessary high. However, you could also
argue that every mBTC that you pay in transaction fees is contributing to the security
of the network by incentivizing the miners.
I of course concede that people are not paying unnecessary high transaction fees for this reason and
probably are just impatient (to wait for a longer time for their transaction to confirm), are using
wallets with bad standard settings or simply have no idea how transaction fees work with Bitcoin.
This is not true. Have you taken a look at the daily miners revenue? Its a record highs right now. Basically 144 blocks a day at least with 12.5 BTC as block reward equals over $14,400,000 daily.
So whether people use high or low fees shouldn't matter. The high fees is actually hurting the coin in more ways because people simply make less transactions and combine their transactions rather that making transactions everyday.
I know the Bitcoin Cash dilema starts alot of bad publicity for some people but we really need a fast and cheap blockchain. It will either be LTC, ETH or BCASH.
Those would be short-term solutions, I don't think LTC,ETH or BCASH can scale that good.
What about PoS?
I'm not that well informed but DASH seems like something that could work.
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This is not true. Have you taken a look at the daily miners revenue? Its a record highs right now. Basically 144 blocks a day at least with 12.5 BTC as block reward equals over $14,400,000 daily.
So whether people use high or low fees shouldn't matter. The high fees is actually hurting the coin in more ways because people simply make less transactions and combine their transactions rather that making transactions everyday.
I know the Bitcoin Cash dilema starts alot of bad publicity for some people but we really need a fast and cheap blockchain. It will either be LTC, ETH or BCASH.
You have to take into account the time in the future when the block reward will be negligible and we will need a competitive fee market.
Also people are clearly willing to pay high fees in order to make BTC transactions. The mempool is basically a self-regulating queuing system.
I highly doubt that any of the altcoins you mention will gain any real traction whatsoever. Litecoin has been around for 6 years and is mainly
used as a testnet/playground for new technological improvements.
They will pay, but it's an economy thing
If you set 50% taxes and people sell shit, you're not going to say people want to pay taxes
They don't
Things happen, just 50% less things.
Same with transaction fees as costs of purchasing cheap products grows because of high fees people avoid purchasing them.