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Topic: Legacy addresses > speculation of fees in the next two years - page 2. (Read 263 times)

copper member
Activity: 1330
Merit: 899
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So if you have that wallet since 2014 it means that you are storing a huge amount of money right now, at which rate did you bought those bitcoins? Because the price was less than $250 by those times if my memory is not broken.

Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??

I didn't knew that the legacy addresses were still online, i thought that everybody who had bitcoins had already moved their funds to a segwit address.

Why dont you do it? Maybe you are going to pay $30 of fees right now, but in the future you will only have to pay less.

And if the lightning network gets implemented you will need to switch your balance to update to it.


My brother asked me this yestearday beucase he bought a new ledger nano s thing and in the screen he had seen the device was asking for segwit or legacy blockchains. I told him to select segwit due to low fees.

Is there any chance to lose our bitcoin due to this selection in the future?
There is a chance that your brother could lose whatever your whole family has stored in Bitcoin to a prostitute.
Beggars like me and Satoshi are keeping our coins on legacy addresses, well mostly Satoshi, because I don't even have 1BTC (note, did you know that now I could buy a small house to jump a prostitute (this is my first time, so I want to first experiment with a paid girl) with an amount less than 1BTC? 5 weeks ago it was 20BTC 3 weeks ago was 15BTC 2 weeks ago it was 1.5BTC, last week I begged people for 1BTC, now since I have no dignity, I'm begging you all for 0.9BTC.
OP if people want low fees, Segwit is there, it's not mandatory though.
legendary
Activity: 1414
Merit: 1039
So if you have that wallet since 2014 it means that you are storing a huge amount of money right now, at which rate did you bought those bitcoins? Because the price was less than $250 by those times if my memory is not broken.

Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??

I didn't knew that the legacy addresses were still online, i thought that everybody who had bitcoins had already moved their funds to a segwit address.

Why dont you do it? Maybe you are going to pay $30 of fees right now, but in the future you will only have to pay less.

And if the lightning network gets implemented you will need to switch your balance to update to it.


It's possible that he didn't buy much back then, but I agree that the odds are that the op has a good sum in that paper wallet right now.

@OP, if you don't want to move your money out of the paper wallet, you don't have to. Right now wouldn't really be an optimal time either -- there's a decent amount of fees going on right now because of the amount of transactions going through. I'm sure you know this, but I think there will be a nice pocket in time in the future where the fees go low again. It'll be pretty cyclical from what I'm thinking (moving between high and low).
sr. member
Activity: 420
Merit: 250
So if you have that wallet since 2014 it means that you are storing a huge amount of money right now, at which rate did you bought those bitcoins? Because the price was less than $250 by those times if my memory is not broken.

Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??

I didn't knew that the legacy addresses were still online, i thought that everybody who had bitcoins had already moved their funds to a segwit address.

Why dont you do it? Maybe you are going to pay $30 of fees right now, but in the future you will only have to pay less.

And if the lightning network gets implemented you will need to switch your balance to update to it.


My brother asked me this yestearday beucase he bought a new ledger nano s thing and in the screen he had seen the device was asking for segwit or legacy blockchains. I told him to select segwit due to low fees.

Is there any chance to lose our bitcoin due to this selection in the future?
legendary
Activity: 1652
Merit: 1088
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So I have paper wallets from 2014 and I really don't want to move them to segwit addresses. I made them with Armory and I am quite happy.

What are you doing with your older paper wallets? Are you happy to keep them on legacy addresses? What do you think the fees will be in a couple of years for legacy addresses? Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??

Nobody knows what is going to happen with fees.

My guess is that alts will step up for use as a currency and to move money between exchanges, and that the only ones who will be sending coins on the bitcoin network will be those who own their own wallets. So the fee situation might resolve if people start working around bitcoin.
hero member
Activity: 2562
Merit: 577
So if you have that wallet since 2014 it means that you are storing a huge amount of money right now, at which rate did you bought those bitcoins? Because the price was less than $250 by those times if my memory is not broken.

Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??

I didn't knew that the legacy addresses were still online, i thought that everybody who had bitcoins had already moved their funds to a segwit address.

Why dont you do it? Maybe you are going to pay $30 of fees right now, but in the future you will only have to pay less.

And if the lightning network gets implemented you will need to switch your balance to update to it.
full member
Activity: 298
Merit: 149
So I have paper wallets from 2014 and I really don't want to move them to segwit addresses. I made them with Armory and I am quite happy.

What are you doing with your older paper wallets? Are you happy to keep them on legacy addresses? What do you think the fees will be in a couple of years for legacy addresses? Admittedly 30-60 dollars is not that much for a largish transaction today. But what will the fees be later? Any guesses??
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