volatility and transaction fees... - page 3.

freedomno1

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

We are transitioning to a state of competing technologies on different blockchains with each providing a set of unique but well developed features, a side-effect of this competitive angle will be a burst in innovation and new technologies as we see increasing utility and scale. Were entering into a new age and the blockchain will be a critical component in it's genesis block.

Sithara007

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Quote from: bamboylee on June 12, 2017, 10:19:17 PM

Votality will settle with age. Bitcoin is still way too young to demand stability. The main problem here is miner's or transaction fees coupled with long transaction time. And as the price goes up, even 100 sat per byte fee will be huge in $ terms.

But if the fee is too high, then there will be less incentive to use Bitcoin. People will be more tempted to use altcoins such as Ether and Litecoin, which are having low fees and faster confirmations. An ideal solution would be to keep the fees at a reasonable level, and hope for an increase in the number of transactions.

bamboylee

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Votality will settle with age. Bitcoin is still way too young to demand stability. The main problem here is miner's or transaction fees coupled with long transaction time. And as the price goes up, even 100 sat per byte fee will be huge in $ terms.

Ahimoth

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Quote from: bitbob82 on June 11, 2017, 05:05:38 AM

Quote from: Kizaki on June 10, 2017, 11:42:51 PM

Yeah clearly this two negative sides of bitcoins that we are experiencing now will casue bitcoin not being adopted by all countries around the world,this two things bitcoin needed to overcome to become stronger like what we expect from bitcoin

people are too much enthusiastic to invest money in bitcoin but when they hear about the increasing transaction fee from time to time they become disappointed and avoid to invest. i think this problem really needed to overcome if we want bitcoin to become more and more popular.

Yeah I agree with you. The negative part here is the high transaction fee. Investors will be displeased if they will see the increasing transaction fee. High transaction fee will not make bitcoin popular thus it will make it unwanted. Volatility is the nature of every currency. Price fluctuates as the supply and demand is here.

voltesbit777

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

Because of the volatility of bitcoin many of us which is the bitcoin community most of them experienced big/small profit which means it is not true that bitcoin is not like not important but its too significant in our times and most of the banks now are also
Important and very useful too.

SaShiRaJaVu

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

The beauty of bitcoin is that you are able to control your assets without the help of a third person and the government is not controlling how your asset is valued and if you have the same ideology behind the technology then you wont mind the volatility and the transaction fees,but i think the transaction fees are getting higher and needs to be controlled.

olubams

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

Volatility is a serious issues that when price increases, it goes at a percentage so high and when it does go down, its just massive like what we witnessed today but at the same time it also presents an opportunity for everyone to tap into who feels the price at the time is on the high side to be afforded. The other part is the transaction fees which I feel is still bearable compared to the high price of bitcoin which I believe its still affordable for users of bitcoin.

mzforfree

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so they become lesser the more bitcoins you have?

Wintorez

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Quote from: arpon11 on June 12, 2017, 02:55:47 PM

I don't think volatility and fee will ever clash bitcoin as it has never clash any assets before rather people become interested in bitcoin because of it volatility. Bitcoin's founder said "bitcoin will become something valuable or nothing"

The fact is that it's very bad when for small Bitcoin users, these fees are very huge. For larger Bitcoin users, this is not so tangible.

arpon11

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I don't think volatility and fee will ever clash bitcoin as it has never clash any assets before rather people become interested in bitcoin because of it volatility. Bitcoin's founder said "bitcoin will become something valuable or nothing"

stompix

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Quote from: cpfreeplz on June 10, 2017, 10:39:08 PM

It's an 8 year old technology and you expect the price to be stable? That's like saying when the TV came out everyone should have had 1 within the first 8 years of them existing and the prices should have been lower at that point. It's still new. It's going to be volatile..

How about you try and compare with something recent? Let's change tv's with smartphones..
10 years ago we had the first Iphone.... nowadays....

In this century 8 years old is indeed old and tested.
The volatility will remain until it will match the growth of other products that were launched in the last decade.

And although bitcoin has surpassed any other assets in terms of $ gains in terms of adoptions and usage it still lacking

ladydark

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

Definitely volatility and transaction fees are two issues in bitcoin.Volatility makes many countries to think twice before accepting bitcoin as legal payment.But volatility is its nature.It could not be changed.Higher transaction fees would make new companies drop their plans of accepting bitcoin payment.

TrumpD

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

The pros outweigh the cons, that said you have raised some valid point. Bitcoins is difficult to understand for a lot of people. How will my grandparents or mother use it? They aren't tech savy at all, in fact it is a challenge for them to do more than the basics on android, call, sms and that's it.

truongdhnh

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Quote from: klf on June 12, 2017, 07:26:39 AM

Quote from: asriloni on June 11, 2017, 02:16:25 AM

Quote from: Kizaki on June 10, 2017, 11:42:51 PM

Yeah clearly this two negative sides of bitcoins that we are experiencing now will casue bitcoin not being adopted by all countries around the world,this two things bitcoin needed to overcome to become stronger like what we expect from bitcoin

Both are not the negative things in my opinion. To fixing the scaling problem of bitcoin just to take a technical solution regarding the scaling problem of bitcoin such as segwit agreement. And without the volatility and you will not see the price of bitcoin at this rate.

All traders want bitcoin prices to be more volatile so that they can make a good money from everyday trading. But normal investors wants a slow and study growth. But transaction fees are quite high and it is no more a good option to send smaller amounts using bitcoins. So nowadays I'm using ETH for smaller transaction and bitcoins are only for investment purpose.

So much for the instant transactions and low fees. Now this shit charging more than the banks.

bitcoinisbest

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Higher the volatility higher the trading takes place due to chance of making higher profit or can be even otherwise as well. But as an investment purpose too btc is the good option considering its past inspite of volatility it has given a best return against any asset class.

klf

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Quote from: asriloni on June 11, 2017, 02:16:25 AM

Quote from: Kizaki on June 10, 2017, 11:42:51 PM

Yeah clearly this two negative sides of bitcoins that we are experiencing now will casue bitcoin not being adopted by all countries around the world,this two things bitcoin needed to overcome to become stronger like what we expect from bitcoin

Both are not the negative things in my opinion. To fixing the scaling problem of bitcoin just to take a technical solution regarding the scaling problem of bitcoin such as segwit agreement. And without the volatility and you will not see the price of bitcoin at this rate.

All traders want bitcoin prices to be more volatile so that they can make a good money from everyday trading. But normal investors wants a slow and study growth. But transaction fees are quite high and it is no more a good option to send smaller amounts using bitcoins. So nowadays I'm using ETH for smaller transaction and bitcoins are only for investment purpose.

machinek20

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The transaction fee is one of the things that we need to take care, but the volatility is a good thing, a volatility means bitcoin in a good condition where there are buy and sell transactions, it is where the trader get profit and we cant prevent volatility because its decentralized

BitcoinzB

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Quote from: mzforfree on June 12, 2017, 06:06:19 AM

guys I didn't say it will kill it i'm just saying that's why I think this huge bubble is occuring

I don't see it coming instead.. The market is not saturated and there's a growing interest from all around the world; about volatility, that's one of the things that attract many big guys into bitcoin. Yes, it has its downsides too but nothing that would make it play a main role in a possible crash.

mzforfree

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guys I didn't say it will kill it i'm just saying that's why I think this huge bubble is occuring

lionheart78

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Quote from: mzforfree on June 10, 2017, 10:14:36 PM

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

Yes I agree that transaction fee can kill bitcoin but I doubt volatility will kill them. Actually, it is the high volatility that makes bitcoin interesting to traders since they can exploit it to take profit from those who made an error in trading. But I guess developers are aware of the transaction fee issue and will have solution for it in due time.

Topic: volatility and transaction fees... - page 3. (Read 1796 times)