with the high transaction fees btc makes me stronger to hold btc.

Gladitorcomeback

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?

but in my opinion if transacting btc it would be better to use a cheap transaction method.

Btc high transaction fee will not bring any positive change in btc because we have seen Ethereum high gas fee which only increased the complain and when other chains are introduced with low fee, many investors migrated to these chains because they doesn't want to spend high fee for sending, providing liquidity etc. The same case here are also and i see many people start complaining about btc high tx.

One of the feature due to which we can say that Btc is better than other sources is low fee because you have to pay only 1$ or below for sending as many btc as you want to any overseas country which is not possible with other payment method yet. Btc transaction doesn't mean that btc will be sold but ut can be used for other sources also which is now freeze. Now everything comes to normal and number of transaction start increasing which i think is good for btc.

Kaliandra

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Quote from: Z-tight on May 10, 2023, 07:57:26 AM

I don't see TX fees this high as an advantage or a positive, BTC is a 'free' currency that should be used anyhow the owner wants it. You can hold it for the long term even if TX fees are normal, you don't need high TX fees to do that, but when TX fees are this high you hinder and restrict people who want to spend BTC like a currency that it is, and restricting people from using BTC as a currency is a very big problem. BTC is not only an investment option, and your post makes it feel as if it is only good for that.

I have no intention of limiting and restraining other people from transacting btc and so on.
and i am just stating my opinion and what i do with my personal investment in btc. just try to read carefully my post, whether intended for other people or not.

In my opinion, managing other people or limiting other people is not a good thing, because everyone has different opinions and strategies in business and investing in btc.

AicecreaME

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Quote from: Z-tight on May 10, 2023, 07:57:26 AM

I don't see TX fees this high as an advantage or a positive, BTC is a 'free' currency that should be used anyhow the owner wants it. You can hold it for the long term even if TX fees are normal, you don't need high TX fees to do that, but when TX fees are this high you hinder and restrict people who want to spend BTC like a currency that it is, and restricting people from using BTC as a currency is a very big problem. BTC is not only an investment option, and your post makes it feel as if it is only good for that.

Maybe OP is being discourage to make a transaction to spend his Bitcoin on something he needs or wants because of high transaction fee. I don't see any problem with that since it's his decision whether to spend his Bitcoin hodlings or not in any kind of situation. Maybe he is just being practical about his money, especially if his Bitcoin holding is his only funds where he use in buying foods, paying bills, paying rents, etc.

landheer

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I myself feel panic when I see expensive transaction fees,
but I am Amazed by you because while other people are panic by the high fees for btc transactions, but you are not panic,
instead you are even more eager to hold btc.

and now sometimes I'm always worried when I see the market price of btc continues to fall, and this is what makes me always panic because I'm afraid the price of btc will fall even deeper.
but I hope that the price of btc will quickly rise high.

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Quote from: LastKiss on May 11, 2023, 05:30:32 PM

Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

~snip~

i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?

but in my opinion if transacting btc it would be better to use a cheap transaction method.

Bitcoin transaction fees become high is not new in crypto, since many people doing transactions the fee will increase. I have the same mindset as you, hold for the long term and keep investing because the price is still at a discount. Those people who do transactions is a traders who looking for more profit and it's normal, if we want to transactions there is a lightning network feature for lower fees I guess.

For veterans or to those people who had been here on this space for a while now isnt really that get shocked about these high fees incident whenever there's a network clogged or congestion. We do have other options
though because there are coins which are really that have cheap fees and doesnt really have that chance on clogging up the network but since we are talking or speaking about Bitcoin then it wont really be a solid
reason of sudden high fees for you to hold more. Yes, we cant make out some transactions due to high fees but not literally, this is only for those people who cant just afford on paying up 20 bucks
on every transaction but we know that there are those huge transactions which they dont really care about peanut fees which they cant be stopped on doing so.
If you do find out this high transaction fees is a reason for you to hold more, then it is really a personal opinion.

LastKiss

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

~snip~

i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?

but in my opinion if transacting btc it would be better to use a cheap transaction method.

Bitcoin transaction fees become high is not new in crypto, since many people doing transactions the fee will increase. I have the same mindset as you, hold for the long term and keep investing because the price is still at a discount. Those people who do transactions is a traders who looking for more profit and it's normal, if we want to transactions there is a lightning network feature for lower fees I guess.

BitDane

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

As we all know lately, lots of people are transacting BTC and causing traffic jams because of the many queues for BTC transactions, and BTC transaction fees are expensive if you want to be fast.

And I, as a btc investor who is still a beginner, in my opinion, with expensive btc transaction fees, I see this as a positive thing because I have the following reasons.

1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.

Idling coins because of high fees is not good for the economy of the coins. You have your reasons so you actually not affected by the transaction fee increase because you are holding BTC for a certain period of time to get profit from it. Even with the fee did not surge, you have no intention of moving your BTC so it is not the high transaction that made you hold your BTC.

Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

but in my opinion if transacting btc it would be better to use a cheap transaction method.

it is always better to have a means to transact with less processing or transaction fee. Who would love to spend more just to make his transaction confirmed faster. Cheaper is always better when the same quality of service is served.

Pandu Geddon

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Quote from: Kaliandra on May 11, 2023, 09:22:49 AM

so in my opinion, with things like this, don't let us fail in investing because what I see is that so many people are panic selling btc, and many people are starting to be disappointed with btc, that's why now the price of btc has decreased in price.

I don't think it's a panic because Bitcoin transaction fees are getting expensive and they are releasing their Bitcoins. this is even a reason enough for everyone not to take it off.
I believe most of those who released Bitcoin were part of a trade that indeed they needed a withdrawal for another trade. they sell Bitcoin for altcoins with cheaper transaction fees. those with more experience wouldn't panic in a situation like this. the belief in Bitcoin is so strong, this will all be over soon.

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Quote from: Kaliandra on May 11, 2023, 09:12:00 AM

Snip

Judging by the OP, so you mean now that the transaction fee has been fixed, you are not going to be able to hold longer than you wished to?

I believe you still can if you want to. Just send your Bitcoin to an address and keep your phrase safe, then take a decision on the price at which you wish to sell your Bitcoin; don't sell until you see that Bitcoin is trading at your expectation price.

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.

To make you strong, as you put it, you don't need high commissions. The fact that you are not selling your bitcoins at this time is not strength, but greed. See the difference? Strong hands mean you don't care about volatility or commissions, whatever they are. You have a certain period that you planned to invest in.

Kaliandra

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Quote from: Kelvinid on May 11, 2023, 01:48:09 AM

Well, the high transaction fees that we have had in the past few days are obviously a big challenge for traders and new investors, and I even confirm myself that it helps me not to spend my BTC but rather hold and wait for the fees to drop. And I know that many people make this a reason to hold and just like what I did, they will move and convert their BTC.
The fees could be sometimes a reason but it was temporary. People will hold for a strong reason and they will keep doing this as it was their goal.

I agree with what you said, because there really is no other way but to hold BTC firmly, and we must remember that our intention is to invest for the long term, but in this case everyone has a different opinion and that is their individual right.
so in my opinion, with things like this, don't let us fail in investing because what I see is that so many people are panic selling btc, and many people are starting to be disappointed with btc, that's why now the price of btc has decreased in price.
but in this case it's up to the person holding the btc to sell or not because it's their right.
and of course everyone's strategy is different.

Kaliandra

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Quote from: Dr.Bitcoin_Strange on May 10, 2023, 12:20:23 PM

I wonder how you are so comfortable with the high fee, but if you are speaking for yourself alone, how about others? In some countries, their income is very low, and their local currency has a low value even compared to the dollar, so if people in such countries have an interest in purchasing or investing in Bitcoin, they would consider how much they want to spend for fee and might just give up. Let me explain further. Imagine I want to buy $10 worth of Bitcoin but am not willing to spend $15 on a transaction fee. So possibly I will need $25 so I can purchase with $10 and use the rest for fees, which is still very unfavorable. I see the situation as what will make some people not be in a haste to invest; some will just decide to hold on with their investment, and from there they may develop interest in some other ponzi schemes. The Bitcoin transaction fee just need to normalize so that it can favor everyone, both common and uncommon investors.

yes, indeed I also understand about that but what power because indeed
reality now costs
btc transactions are expensive, and the biggest losers are people who do business every day with payments using btc.
but for businesses such as buying and selling motorbikes and cars I don't think it will be too expensive even though the BTC transaction fee is like it is now.

Similificator

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

As we all know lately, lots of people are transacting BTC and causing traffic jams because of the many queues for BTC transactions, and BTC transaction fees are expensive if you want to be fast.

And I, as a btc investor who is still a beginner, in my opinion, with expensive btc transaction fees, I see this as a positive thing because I have the following reasons.

1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.

2: my goal of investing in btc is for a long term investment so with expensive transaction fees
makes me stronger holding btc, because my goal is to invest in btc for the long term.

i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?

but in my opinion if transacting btc it would be better to use a cheap transaction method.

It's good that the high fees on bitcoin transactions nowadays are helping you to hold onto your coins. The only problem with that mindset is that when the fees get lower, you'd have higher tendencies to let go of your bitcoin possessions. If holding onto your coins is the goal, it should not be because of high fees but instead because of self-discipline and logical faith on Bitcoin.

On a side note, seeing the transaction fees going as high as it is today, is something that we should be worried about rather than be glad about. This is actually an issue that is quite crippling for bitcoin and affects its purpose negatively in a great scale. I hope this soon passes and gets better. If the fees and the speed for every transaction right now is already making people hesitant to move their bitcoins, then just imagine how big of a headache it will be once the bull season comes.

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Quote from: ajiz138 on May 10, 2023, 09:00:55 AM

For BTC holders, maybe this won't be a problem, even if the transaction fees are expensive, but some people need the transaction for their needs, such as wanting to gamble with Bitcoin, so this will be an obstacle for them or everyone has a need for bitcoins sent, with transactions expensive, we have to be willing with higher costs, and what is clear is that this is caused by Brc20 which is often discussed.

This is also true. Not every BTC "holders" are entirely circulating in investment and we all know that there are businesses revolving around BTC. Imagine the losses that businesses might encounter due to these transaction fees.
I am pretty sure there were also news revolving Binance regarding halting withdrawals?

Quote from: ajiz138 on May 10, 2023, 09:00:55 AM

So you will hold the BTC that you have now without accumulating again? But you are free to do that for a long-term investor, whether it's cheap or expensive, transaction fees don't care about it, but when I have bought more bitcoins, I have to be willing to pay those expensive fees.

True also for the hodlers. It's kinda pain when you can't just buy due to these fees.

Kelvinid

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Well, the high transaction fees that we have had in the past few days are obviously a big challenge for traders and new investors, and I even confirm myself that it helps me not to spend my BTC but rather hold and wait for the fees to drop. And I know that many people make this a reason to hold and just like what I did, they will move and convert their BTC.
The fees could be sometimes a reason but it was temporary. People will hold for a strong reason and they will keep doing this as it was their goal.

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Quote from: Fivestar4everMVP on May 10, 2023, 04:00:12 PM

For the investors, the high transaction cost might not seem like a big problem, but for those who pay for goods and service with Bitcoin, it's a major concern.

Some people are just talking about this transaction fee based on their own perspective and how it favors them, but how about those that spend Bitcoin on payments for other services? those that deposit Bitcoin into their casino wallets? And those that carry out other steady sending of Bitcoin. I said I was affected by this high price because I had to cover a huge amount for a few of my customers wanting to pay with Bitcoin. They had to pay, but I had to offer to cover 50% of the fee, and they handle the other 50. The increased fee is not a favorable thing for everyone, so at least when people are talking, they should consider others.

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

I, as a btc investor who is still a beginner, in my opinion, with expensive btc transaction fees, I see this as a positive thing because I have the following reasons.

1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.

2: my goal of investing in btc is for a long term investment so with expensive transaction fees
makes me stronger holding btc, because my goal is to invest in btc for the long term.

i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?

but in my opinion if transacting btc it would be better to use a cheap transaction method.

Although I think Bitcoin transaction fee has increased temporarily but transaction fee is never worth investing. Investors never consider all these factors. They will always consider the overall market conditions. I am not at all worried about the increase in transaction fees at present. Because these high transaction fees temporarily increased. However, nowadays the transaction fee has come down a lot. None of will worry about these transaction fee increases.

lienfaye

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Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.

Well, if you're a long term hodler, you will not be tempted to sell your Bitcoin regardless of the fees for every transaction. Though it's true that many investors decided to hold at this time due to high fees, but it doesn't mean they're going to hold for long. It's just that the fees are hindering them to transfer their Bitcoin.

Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

2: my goal of investing in btc is for a long term investment so with expensive transaction fees
makes me stronger holding btc, because my goal is to invest in btc for the long term.

The fees are indeed high but it will not last forever because it will turn down for sure in the coming weeks/months. So be firm with your decision because holding Bitcoin for long period is beneficial for you to have a chance to become a huge gainer.

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Quote from: wxa7115 on May 10, 2023, 11:15:24 PM

Quote from: Kaliandra on May 10, 2023, 07:53:13 AM

1: having expensive btc transaction fees makes me stronger to hold on to btc because I don't want to waste my money on expensive transaction fees.

2: my goal of investing in btc is for a long term investment so with expensive transaction fees
makes me stronger holding btc, because my goal is to invest in btc for the long term.

i want to hear your opinion,,,
and are you freaking out about the high btc transaction fees...?

but in my opinion if transacting btc it would be better to use a cheap transaction method.

If the only thing that is stopping you from spending your coins are the high fees then you will not be able to hold your coins for long as I doubt the congestion on the network will last forever.

Now I will not deny that out of convenience I am purposely avoiding making any bitcoin transaction at the moment, but since I am convinced about the potential of bitcoin, not only as an asset which can go up in value but as a technology which will be widely used on the future, then it is way easier for myself to hold my coins even if there are some things which I would like to buy at the moment.

it's unfortunate to do bitcoin transactions especially during the bearish season, holding it will be more profitable for the future. for me I prefer to group finances, if I want to buy necessities, then I prefer to use fiat money which I have divided to make ends meet, while for investment, I will only convert to fiat currency during the bullish season , but I also set aside some of it to invest again when the market is bearish, I have done that as long as I know bitcoin from 2017, and I think it will be more effective

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Quote from: wxa7115 on May 10, 2023, 11:15:24 PM

If the only thing that is stopping you from spending your coins are the high fees then you will not be able to hold your coins for long as I doubt the congestion on the network will last forever.

In fact, it has dropped significantly from yesterday to today. High priority transactions, according to mempool.space, currently 66 sat/vB which is quite lower than these days.

Quote from: wxa7115 on May 10, 2023, 11:15:24 PM

Now I will not deny that out of convenience I am purposely avoiding making any bitcoin transaction at the moment,

I think we have all been forced into it a little bit. With fees going up to almost $20 for a normal 1 input and 2 outputs transaction, most of the forum who get paid between $50 and $125 per signature campaigns will not have wanted to lspend a significant percentage in fees. So I agree with the OP, because we have been a bit forced into it. Although, as you say, if it's the only thing that takes someone to hold, it won't last long because the fees will eventually go down and they already are, what we can't know is if it's a dip before another spike or if this craze will finally calm down and we'll return to more affordable fees.

Topic: with the high transaction fees btc makes me stronger to hold btc. (Read 438 times)