Topic: volatility and transaction fees... (Read 1796 times)
it seems that the effects on transactions fees and volatility outcomes for bitcoin come hand in hand. Although volatility is all over the market, since it's already expected, you can find a way to steer clear.
I think bitcoin over time can surpass banks in terms of investment. Bitcoin has a greater interest but a high risk. I also find a way on my country to use bitcoin without any fees and i think its volatility can lead us to lore profit than not being valuable.
Transactions fees may go up or down depending on the intensity of traffic , for example if there's something near 15k transactions waiting to be sent you'll find that there's 8 transactions done per second and that the fees don't even make it to 2.5 dollars , while when there's high volume of traffic going on like for instance now 105168 transactions are being treated you'll find 19 or so transactions per second and of course higher fees . So my advice to people is to send transactions when there's low traffic or to customize the fees of their transactions but it'll take a bit longer .
no it isnt, transaction fees tend to go up if bitcoins value is increasing. its not about on how intense the traffic is or the network is congested.
transaction fees will only be stable if bitcoins value will be regulated in order for it to become centralized and less volatile but for now i guess all you gotta do is adjust the fee on your wallet before sending , to avoid unecesary problems like slower transaction or stuck/unconfirmed transactions.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Access to Bitcoins and altcoins has been cumbersome to many of us, but I think that it starting to change and will keep improving so that the average person will eventually be able to buy and use Bitcoins easily. Remember that in the early days of the internet, it was also very cumbersome and email was foreign to most of us. Also the early days of computers wasn’t very user friendly either.
I do agree that the fees and transaction times could hold Bitcoin back some and could eventually relegate Bitcoin to just a store of value and other coins could eventually pass Bitcoin in market cap.
I agree that bitcoin may be on its way towards better access. It's a phase that any invention would go through, even cars were only limited to a few people back then - mostly just the rich. It eventually became mainstream and almost everyone have cars as of this day. These are problems and complications that bitcoin has, it's transaction fees and time would hinder its users and solutions should be made for this.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Access to Bitcoins and altcoins has been cumbersome to many of us, but I think that it starting to change and will keep improving so that the average person will eventually be able to buy and use Bitcoins easily. Remember that in the early days of the internet, it was also very cumbersome and email was foreign to most of us. Also the early days of computers wasn’t very user friendly either.
I do agree that the fees and transaction times could hold Bitcoin back some and could eventually relegate Bitcoin to just a store of value and other coins could eventually pass Bitcoin in market cap.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Its true that high volatile nature of bitcoin and high transaction fee are problems for bitcoin to get accepted in main stream.But we should not forget that people buy bitcoins continuously even when such problems continue.Banks have hundreds of years of reputation and its only useful for them and not for customers.banks are just keen to exploit its user's hard earned money and that's why,people have started to feel bitcoin as a safe haven.
Volatility is okay with bitcoin because it is just normal for bitcoin to have volatility because as you can see that the demand for bitcoin is not fixed so it is very easy for bitcoin to experience some volatility but if you know how to play with it then you can make tons of money. Transaction fees is the real problem in bitcoin because it keeps on increasing that makes the bitcoin not the best option for making transactions.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Its true that high volatile nature of bitcoin and high transaction fee are problems for bitcoin to get accepted in main stream.But we should not forget that people buy bitcoins continuously even when such problems continue.Banks have hundreds of years of reputation and its only useful for them and not for customers.banks are just keen to exploit its user's hard earned money and that's why,people have started to feel bitcoin as a safe haven.
I see this as obvious, while they give you good services that are easy to make transactions so you have to pay for the service that is sure.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Banks have hundreds of years of reputation that is correct but in your post you seem to assume that is a good thing, most people hate banks, do you think people are happy to be slaves to banks for 30 years just to pay a house, when in the past such a thing did not exist, banks were useful once upon a time, but now are nothing but greed machines that needs to be stopped and bitcoin is the perfect way to do it. 
Well there are 2 options. these things can counteract and make btc be adopted by everyone and leave the banks. The price is normal to be volatile as there is no center but within time it will be fixed for sure.
The transaction fees are getting slightly out of control. 
It's really going up, last checked it was around $1.14 and it was the minimum customize fee with the use of blockchain.info but I know there are people who are even paying it 1-10sats/b and they really don't want to pay higher fees and as long as they can save, they will put that put even to the lowest. But all of us wants to have a fast transaction, before it was free and quick - now it was slow and more expensive together with the price of bitcoin increasing.These two negative sides of bitcoin proves that they poorly enough to compete with the banks around the world. With the presense of volatity makes the price are pumping and dumping causing by segwit fork. This makes it the bitcoin is fasterly rise its price everyday. The good to have trust is basically what people find to make interest that bitcoin is used to.
It's not poorly enough but it's not being developed well for now. There's more to come as the core developers are trying to do something to solve this thing. The fees now were calm and that's why we just have to wait for more time to see bitcoin will be transacting with a very cheap price.
Volatilty effect of bitcoin price is similar to happen with their transaction fees. This is will really happen because they are bind together. Each transaction fees varies immediately as soon as there is a change of price in the market. And i believe that everyone should be aware on this for us, so won't get doubted of what will happen next.
Volatility is everywhere specially in this kind of market, and if you are a good trader you will not see this as a disadvantage but instead make money through this. Transaction fees really depends on the price movements so traders for sure know this.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Actually, no. I am not s tech person at all and when I read about bitcoin I understood why it was important immediately. Banks in the end run on the Fiat system as well as fractional reserve which in the end will all collapse due to the debt cycles. Bitcoin does not run on fractional reserve, does not have a central entity that sets interest rates and prints more money and essentially avoids having a bank or a clearing house at all for validating transactions.
Transaction fees have indeed risen quite steeply however they are still okay. If you compare the cost of sending a few thousand dollars in btc compared to via a bank you'll see the difference. Plus, balances reflect instantly instead of a 3 day wait at the bank. It's only a temporary problem anyways. In August this will be solved one way or another.
Volatilty effect of bitcoin price is similar to happen with their transaction fees. This is will really happen because they are bind together. Each transaction fees varies immediately as soon as there is a change of price in the market. And i believe that everyone should be aware on this for us, so won't get doubted of what will happen next.
Volatility is everywhere specially in this kind of market, and if you are a good trader you will not see this as a disadvantage but instead make money through this. Transaction fees really depends on the price movements so traders for sure know this.
i think these things overtime will make bitcoin not as valuable.. plus the fact banks (while hated by most), have hundreds of years of reputation behind them and are easy to access... Just reading and learning about the ins and outs of bitcoin make my head hurt and I'm fairly saavy when it comes to most tech
Actually, no. I am not s tech person at all and when I read about bitcoin I understood why it was important immediately. Banks in the end run on the Fiat system as well as fractional reserve which in the end will all collapse due to the debt cycles. Bitcoin does not run on fractional reserve, does not have a central entity that sets interest rates and prints more money and essentially avoids having a bank or a clearing house at all for validating transactions.
Transaction fees have indeed risen quite steeply however they are still okay. If you compare the cost of sending a few thousand dollars in btc compared to via a bank you'll see the difference. Plus, balances reflect instantly instead of a 3 day wait at the bank. It's only a temporary problem anyways. In August this will be solved one way or another.
Volatilty effect of bitcoin price is similar to happen with their transaction fees. This is will really happen because they are bind together. Each transaction fees varies immediately as soon as there is a change of price in the market. And i believe that everyone should be aware on this for us, so won't get doubted of what will happen next.
The transaction fees are getting slightly out of control.
It's really going up, last checked it was around $1.14 and it was the minimum customize fee with the use of blockchain.info but I know there are people who are even paying it 1-10sats/b and they really don't want to pay higher fees and as long as they can save, they will put that put even to the lowest. But all of us wants to have a fast transaction, before it was free and quick - now it was slow and more expensive together with the price of bitcoin increasing.These two negative sides of bitcoin proves that they poorly enough to compete with the banks around the world. With the presense of volatity makes the price are pumping and dumping causing by segwit fork. This makes it the bitcoin is fasterly rise its price everyday. The good to have trust is basically what people find to make interest that bitcoin is used to.
The transaction fees are getting slightly out of control.
It's really going up, last checked it was around $1.14 and it was the minimum customize fee with the use of blockchain.info but I know there are people who are even paying it 1-10sats/b and they really don't want to pay higher fees and as long as they can save, they will put that put even to the lowest. But all of us wants to have a fast transaction, before it was free and quick - now it was slow and more expensive together with the price of bitcoin increasing. 
High fees, yes it's now become something annoying, but I'm not blame it ,volatility did it to us, beside the volatility help us to earn more profit. At least I pay fees for something or someone that can convert my bitcoin to money or vice versa. My transaction fees not even big enough compared to their hardwork. Btw you can choose how much fees you want. If you want extra speed,why dont you use extra fees. Help them to develop from your fees. 
Jump to: