Topic: What could be the Right and Perfect Counter-Argument for this? (Read 113 times)

Some months ago,  Nigerians in this forum were crying of inability to withdraw their fiat in the bank. They tried so hard that some persons died in the process. That can be likened to what is happening in the mempool. Nothing is 100% guaranteed and very soon  the system will normalise.
I think the lightning network is helping the situation presently. Which is also a layer built for bitcoin transaction.

Critics will always want to criticize and will look for any opportunity even the slightest one to do so. knowing this is a common attribute to critics, you will not want to pay them much attention, because immediately you are successful able to win their arguements with facts they will quickly have another twisted point to pull out.

The whole situation with bitcoin transaction fee and those of us who have bitcoins we may like to use in our electrum wallets should be a reason to want to keep hodling and leave the bitcoins you have there untouched until maybe this situation gets better.

it's true that lately bitcoin transaction fees have increased and are quite expensive. with this expensive transaction fee it will definitely have a big impact on people who want to make transactions on bitcoin, especially the impact will definitely be felt for people who only few have bitcoin assets. Because with the number of bitcoins that are not too many plus expensive transaction fees, it will definitely be very detrimental. So it is certain that bitcoin investors who only have a small amount of bitcoin will definitely feel confused and depressed.
But we, as investors in bitcoin, should not speculate in advance about the current situation or state of bitcoin. Because I'm sure this situation won't last too long.

So for the current situation, especially for investors with not too many assets in bitcoin, if there is no urgent situation, it is better not to make transactions yet, just wait until the transaction fees become cheap and return to normal. But it is indeed possible to make transactions at this time, by setting cheap fees, but it will definitely take a long time for the bitcoins to arrive/confirm.

people or websites that write about the high cost of bitcoin transactions and compare them to fiat money, I don't think they have looked at it for a long time. Because bitcoin has been an asset that has low transaction fees and fast delivery for more than a decade. But just because bitcoin ran into a hefty fee within a few days, they jumped on the attack and didn't look back at how cheap and fast transactions in bitcoin were.

OP, I believe that trying times of this nature are stepping stone to higher grounds. You know, every rival uses every weakness of their perceived opponents or rivalry to oppress. Although this attack came all of a sudden with no one expecting it to hit this had on bitcoin chain but they should not forget that Bitcoin has stand the test of time and this attack is not the first of it all. You just wait and see how the bounce back would look like in a short while. I will say this, if you can, fill up your bag as bull run is near.

I believe that we simply have to adapt to this new reality until the bubble bursts. We won't be able to make small bitcoin payments on the main chain unless we want to pay a proportionally huge amount in fees. Whoever wants to transfer a couple of bitcoins doesn't care.

What is clear is that this is madness, a bubble that is going to burst, the bad thing is that we don't know when.


Let them look at how much it costs them to transfer a billion dollars from Canada to Tahiland, how long it takes for the money to arrive and what paperwork they have to fill out. With bitcoin it now costs $12, no paperwork and in about 10 minutes it arrives. The fact that it is proportionally expensive to send small amounts does not detract from the fact that it is still the best system for transferring large amounts.

Let them be.

After 2 years, since 2021 they found another great chance to attack Bitcoin. They saw another great opportunity to warn people about disadvantage of Bitcoin, Bitcoin is dead.

Will they suceed? No  

Mempools congested after two years. Consolidate your small inputs next times!

Technical upgrades must be deployed but I am not worrying about that, solutions are always here to solve problems. Without problems, we don't need solutions.

I am quite sure the fee on Bitcoin Network is way less than that of Ethereum. I literally paid $40 for a swap and that also got failed.
Bitcoin network can be a bit slow, but the fees is not a problem as for the consumer needs, there is a lightning network which supports low fees and instant transactions.

OP, fees have been high for what, like two days? I dunno if its like a spam attack that is going on or what but obviously this won't last. I wouldn't worry about it. Even after months of NFTs clogging bitcoin tx fees were still only like $2-$3 a week ago. I guess its gone up from there just the past few days but the attack won't last.

You should take a step back and ask the following question first: Why do we acquire bitcoin?
Is it only to be able to send money at a low cost? Is it only to make profit? Or is it something more like to reach financial sovereignty?

When we clarify that purpose we can then start arguing about the FUD that some people are spreading these days. The main purpose of Bitcoin was to create a decentralized censorship resistant payment system, and it has done that well enough. Of course nobody likes the current situation cause by this attack that has increased the fees to unreasonable levels but the main principles of Bitcoin that leads to increasing adoption of it are still intact.

Obviously Bitcoin is not perfect and there are attack vectors that every now and then different malicious entities use to attack it. For example during 2017 which was one of the biggest bull runs in bitcoin history, we had the largest attacks too. Millions of dollars were wasted on those attacks; 6 years later bitcoin is still here and strong.

No one is finding it easy with the high Bitcoin transaction fee. Some of us (Electrum wallet users) are actually stuck because our transactions must be done with Bitcoin. It's sad that we are experiencing this, and what's even sadder is having a Bitcoin critic point this out. They don't stop there but go ahead to write a long thread warning people not to invest in Bitcoin, citing this current issue of high transaction fees when compared with fiat transactions. What could be the right and perfect counter-argument for this?