☃☃☃ The .01 Theory ☃☃☃ | Bitcointalksearch.org

maydna

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Especially when the cost to send .01BTC cost more than .01BTC. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

when bitcoin price is too expensive and the fees are too high then we need something else to replace this and we have bitcoin cash and bitcoin gold already which is not too high to pay the fee. we can use bitcoin cash or bitcoin gold to send the amount of bitcoin and I think at the time of confirming is not take too long from this two of bitcoin. maybe I don't much about bitcoin, bitcoin cash and bitcoin gold but it is just my opinion from an ordinary person.

speem28

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Especially when the cost to send .01BTC cost more than .01BTC. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

Isn't it the bitcoin network is trying their best to fix the congestion in the blockchain? I just read a tweet of blockchain recently regarding this issue and they are doing everything they can so that we can have smooth transactions again. This may be due to the surging price of bitcoin that a lot of us are doing transactions with it. Nobody will believe your theory, it will never come to that point where we will be forced to hold our bitcoin and do nothing about it because of those high transaction fees you are saying.

Lancelot04

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Especially when the cost to send .01BTC cost more than .01BTC. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

As you said, it is just a theory. Don't make things more complicated please, people will just get scared and eventually will affect the market.

Images21

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Especially when the cost to send .01BTC cost more than .01BTC. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

I think the theory that most people earn less than .01 in BTC is probably right. Does it even matter in the real Bitcoin world? Is there enough attention given to it? I think it does not and it is also being set aside as an issue. But it should actually be given importance. Why? Because we want Bitcoin to become what it is supposed to become. However, I think we cannot easily get away from this situation because the price of Bitcoin will continue to rise and rise up to a point when Bitcoin will not be spent anymore. Or might be spent only on things that are so expensive such as a Lamborghini.

ShortCoins

newbie

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I think if you only have a small amount invested in BTC it makes sense to collect now. Fees are going to become so high that it will cost more to cash out small amounts of bitcoin than it is actually worth. As of right now it cost $35 to cash out. So if you have $50 it is only worth $15 technically because of the $35 fee you have to pay

.01BTC and less investments no longer make sense. If you are going to buy bitcoin I think 0.1BTC per transaction should be the minimum to overcome fees

ShortCoins

newbie

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It now cost more to send .001BTC than it is worth!!! That is crazy

How long until sending .01BTC cost more than .01BTC to send? Next week?

The fees are going to crush everyone holding less than .01BTC

pooya87

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

i don't know where you get all these weird theories of yours which you are filling this board with your topics. but you forget to put some thought into them, or maybe you are still trying to short bitcoin that is rising and losing money!

so lets analyze.
you say "MOST" people own less than 0.01BTC and they will not be able to sell their coins because of high fees some day. lets assume it is correct. that will remove "MOST" of the demand, the demand is all those buy orders that are placed there where your "second group" owning huge amounts want to sell to. as a result there would be no one left for them to sell to or they would have to sell at a much lower price.

for example price is $100,000 and the orderbooks get too thin that if they sell 10BTC price would fall down to $10,000 because "MOST" people have left bitcoin by then in your theory Cheesy

not to mention that you don't even say "WHY" those people with huge amounts even start selling their bitcoin. you just said they will out of nowhere Cheesy

the only conclusion that i can make is: "stop trying to short bitcoin"...

ShortCoins

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Quote

big problem right now with Bitcoin as transactions are again clogged to the max and senders are imposed with exorbitant transaction fees which is quite so ridiculous because this is the opposite of what Bitcoin should be

The fees are making people look at bitcoin as less of a currency and more of a storage of value. But think about it. Bitcoins are actually destroying value (aka electricity, resources, energy, and human labor). Bitcoin price is directly related to how much value is destroyed. That is called mining.

I think the fees have gotten to be so much that most people will just continue to hold on to their small amount of BTC. Because selling it will cost too much

CryptoBry

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time. What do you think about bitcoin fees and the .01 theory? Shocked

It would be so easy to paint a scenario but as to the chance of making them come true that would then be another story. Indeed, there is a big problem right now with Bitcoin as transactions are again clogged to the max and senders are imposed with exorbitant transaction fees which is quite so ridiculous because this is the opposite of what Bitcoin should be. I am sure that sooner or later this problem can be given the appropriate solution though it is quite sad that Bitcoin has become like the government which could not act fast and decide right. Let's just hope that Bitcoin leaders would pressure those in charge to decide on this problem to think fast and do things fast.

abaidudez

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

Bitcoin fees I think is reasonable. I don't really know what's the case of their basis of making an increase. But in my opinion they are making it high to reduce the transaction that are filed and cause congestion. Making it higher will lessen people that will make transaction and wait for the fee to drop down. I don't think people will start selling because of that. I think they will just hold it more longer time to make their BTC multiply more its value.

whmpblgg

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I do not know what the core team is doing all day. I'm almost overwhelmed with the transfer fee, and I had to consider using alternative altcoins instead of btc to transfer between exchanges, which is now a very good option.

sorin90

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I'm not sure it will. the fees can be modified and that way an order can step in. if everyone put on a modify fee of 20 sat the sistem will have to make them in their order and the fee will go down

ShortCoins

newbie

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Most people are going to get stuck holding their BTC if it does crash because the fees will be more than their BTC is worth if they have a small amount

ShortCoins

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Quote

because probably he is just in a signature campaign to earn $50 a week to survive

LOL the irony is too much. You are the one with the signature campaign, good luck.

CyberKuro

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

Most people who have been in crypto-word more than 5 months will have more than BTC0.01 even don't have to wait for months to purchase BTC0.01, people can buy it right now through exchanges, except you don't have the cash to buy it.

What do you mean about .01 theory?
Trade bitcoin addresses which contain BTC0.01 instead of sending bitcoin which cost a high fee? it won't work for global transactions, only works for people who agreed to do so, but have to trust each other or prefer to do OTC transactions to be safe.
However, blockchain nodes will be upgraded or lightning network will be implemented to solve the scale problem and bitcoiners don't have to pay high fees anymore, hopefully.

soham

sr. member

Activity: 406

Merit: 250

Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

Most people own less than .01 BTC

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.

What do you think about bitcoin fees and the .01 theory? Shocked

Bitcoin fees have increased because of the huge numbers of transactions are piled up in the queue. Today only, I sold around 0.0304 bitcoins to my local currency and the transaction fees was a whopping $15. Which was usually around 2 to 3 USD at Normal times. However the transaction got confirmed within just 20 minutes.

So I can't say people will start panic selling just due to the high fees or network congestion. It is least likely to happen. The kind of positivity is running around the market, it will hold up the price higher. It is just that a lot of new investors are pouring in to crypto market every single minute. The network was not prepared to handle such traffic. I believe the situation will be normal within one more day and it has started to normalize. There's no looking back now.

batang_bitcoin

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Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell.

Include me to these people, I'd rather let some of my bitcoin sleep on any exchange rather than paying those fees but the risk is really high because it can be gone anytime. But the fees are really giving me some regret when I press the send button. I want to save some and bitcoin isn't really the same as before, it's value increase and as well as the fees of it.

Quote from: ShortCoins on December 11, 2017, 05:57:03 PM

The transfers will take longer and longer to confirm and everything will get "stuck".

You said it, a lot of complains are coming out now that their transactions are stuck for more than 10 days.

AboeHoeraira

newbie

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Quote from: shursight on December 11, 2017, 06:02:59 PM

And did you believed it? He is just mad because he does not even have five dollars in his pocket.

Dont listen to this guy, he is obviously a waste of time.

He is so coward that he can not even post with his real account because probably he is just in a signature campaign to earn $50 a week to survive.

Quote from: AboeHoeraira on December 11, 2017, 05:58:32 PM

you said just 2 days ago that bitcoin was crashing, it rasied 3k since then, don't make any more theories more please

came on op, how much "fiat" do you have? $10? or less? (just because you said that fiat money is georgeous)

lol nah def. did not believe it, i actually bought 0.3 bitcoin then and i am very happy i did lol, just saying that this guy should stop hating so much since all his posts are basicly hating in bitcoin

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

can you explain yourself a little bit more? why do you think that a lot of altcoins are now emerging because bitcoin is useless?

Quote from: Gabb on December 11, 2017, 06:05:20 PM

bitcoin is no longer functional, and that is the reason why at this moment a lot of altcoins are emerging, delegating to bitcoin the sole responsibility of being a reliable store of value.

if bitcoin falls, or crash, all the altcoins are going to follow his tracks because that is why they are supposed to do, maybe the price of alts is always the opposite of bitcoin, but they are always going to be follow the pattern.

Once that the lightning network gets released, a lot of altcoins are going to become useless, just remember my words

Gabb

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In fact, it is not necessary to be a great theorist in science to realize that bitcoin is no longer functional as a practical and efficient means of payment, and that is the reason why at this moment a lot of altcoins are emerging with the possibility of complementing the deficiencies of bitcoin, delegating to bitcoin the sole responsibility of being a reliable store of value.

Topic: ☃☃☃ The .01 Theory ☃☃☃ (Read 531 times)