Topic: with the high transaction fees btc makes me stronger to hold btc. - page 3. (Read 438 times)
I can't understand how it could be convenient to have high fees, what advantage could it bring to Bitcoin? Let's remember that it was also created to break down the rottenness of commissions and that it is currently favoring the poorest and most oppressed countries by governments, so how can high FEEs bring quality? I think your reasoning is quite wrong, as are these fees.
It's actually true, so high transaction fees will really push someone to hold coins while fees cool down, this is good at some point, especially for those who have coins divided on different addresses but I don't think that this process has more pros than cons. It may push a lot of people to hold but stuck transactions kill bitcoin adoption and popularity. For me, Bitcoin is not only an investment but a way to pay without 3rd parties.
Holding alone won't increase its value if it becomes unable to transfer coins, it gets pricey and popular because it offers p2p transactions and is only one truly decentralized platform.
Holding alone won't increase its value if it becomes unable to transfer coins, it gets pricey and popular because it offers p2p transactions and is only one truly decentralized platform.
I don't see any positive thing about Bitcoin having a higher transaction fee, it's not encouraging for business owners too, only miners and long-term holders will benefit but business owners will have to take a different route from now on.
Using Bitcoin as a means of payment was part of the reasons why it existed but now Ordinals is making it look like a joke, Ordinals need to go or there will be consequences. If this continues it means that Bitcoin have failed at being an electronic payment solution.
Using Bitcoin as a means of payment was part of the reasons why it existed but now Ordinals is making it look like a joke, Ordinals need to go or there will be consequences. If this continues it means that Bitcoin have failed at being an electronic payment solution.
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.
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.
Keeping btc is generally good, and this is exactly what is called investing bitcoin. But it should be noted that btc is a digital electronic currency, which means that at least a part must be used as a means of payment. But bad luck arises: how to use bitcoin if transactions have risen in price very much? How to buy that conditional cup of coffee for btc, if the commission costs the cost of several cups of coffee? Not very positive, right?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.
Your arguments are strange. In my opinion, the reason for long-term holding is the desire to get more profit later than now, and not the desire to save on transactions. People wishing to keep would do so regardless of the cost of commissions. Therefore, the current situation for the holders has nothing to do at all, and for those who want to use bitcoin now, it interferes.
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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.
So many businesses that depend on Bitcoin to buy or sell products are having a very bad time.
At the start of this year many people told us stories on how they started accepting BTC's in their businesses, though i don't believe most of these stories, but i am sure we will not be reading stories like that soon again, who wants to buy groceries in a shop and pay with BTC using a fee rate of over 300 sats/vByte. A different way to look at it is that Satoshi made BTC to be a p2p currency, but due to its limited supply and constant demand, its value has gone so high and it is now an attractive investment opportunity, but i believe anything that hinders its initial purpose which is to be a currenct has to be removed.
So many businesses that depend on Bitcoin to buy or sell products are having a very bad time.
At the start of this year many people told us stories on how they started accepting BTC's in their businesses, though i don't believe most of these stories, but i am sure we will not be reading stories like that soon again, who wants to buy groceries in a shop and pay with BTC using a fee rate of over 300 sats/vByte. A different way to look at it is that Satoshi made BTC to be a p2p currency, but due to its limited supply and constant demand, its value has gone so high and it is now an attractive investment opportunity, but i believe anything that hinders its initial purpose which is to be a currenct has to be removed. 
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 this may be interesting to you because you're willing to buy ad hodl but how do you buy if someone is not ready to sell and they were all holding theirs? the network is not fixed, demand and supply is a constant thing in bitcoin market, have you tried to see the numbers of transactions happening each day?
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.
makes me stronger holding btc, because my goal is to invest in btc for the long term.
There's nothing bad in holding your asset down when the transaction fee is high or the bitcoin price is dip and wait till the bull season, but also know that there are circumstances that could facilitate your selling before this time you have targeted base on different conditions.
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.
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.
Your experience is relative because bitcoin is used for different financial transaction. Long-term hodler might not problem with these high fees. But don't forget that there might be an emergency that wants to warrant you sell your coin. But the best option now is to seek other means of cheap Bitcoin transaction channels.
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.
That's my main challenge with this transaction price issue. People should be motivated and free to use Bitcoin the way they want, it could be as a currency or investment, or both. Bitcoin daily users are not finding this high transaction fee funny. This issue is now making altcoin transactions more attractive. So many businesses that depend on Bitcoin to buy or sell products are having a very bad time.
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.
makes me stronger holding btc, because my goal is to invest in btc for the long term.
This is self contradictory since your goal is to invest long term then why would you consider a high fee as way to hold? You should wish to have a low transaction since you will purchase more if your goal is really long-term. It's useless to view this way because it only means that your real goal is not long-term since you tend to sell your holdings if the transaction the fee is cheap.
My opinion is you should not look on this attack positively because it reflects negatively to the asset that you are currently invested.
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.
The only people who are currently affected by the increase in Bitcoin transaction fees are those who use Bitcoin on a regular basis; those who have been holding for a long time are not concerned about the fee being high or low; the only reason they are concerned is that they want to see Bitcoin return to normalcy, not because they are afraid of losing money to miners. We all witnessed something that compelled us to adopt Bitcoin, and the reason we did so is currently being altered by some network spammers and the entire ordinals shit.
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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.
makes me stronger holding btc, because my goal is to invest in btc for the long term.
My previous post still applies to your second point; there's no need to be concerned about current network congestion if you're not transacting right now; we're all just fighting for our Precious Bitcoin fee to return to normal so that we can tip miners with whatever we want and not be forced to pay more than we normally do if we want our transactions to be confirmed quickly.
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.
Well I could somehow relate to this whenever the transaction fee for Bitcoin is high, I would rather hold it than to send them out or use them.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.
But if my Bitcoin is already at a trading site I could alwasy use alt-coin for faster transaction and lower fee.
But for those who are really in need for cash and their Bitcoin is on their wallet they don't really have a choice but to pay the right price for their transaction, I once set up a lower transaction fee just to save money and it end up taking weeks just to confirm.
Bitcoin can be an asset of value storage for you but it is nothing with others. People who used very crazy fee rates for BRC20 tokens, Ordinals have their reasons to do so and you can not stop them. They will stop when they realize something like Ordinals, BRC20 tokens are useless, no value at all.
Wasn't that exactly the point in my post, did you read it? Surely you can't stop people from using BTC the way they like, that will amount to censoring, and BTC is censorship resistant and permissionless, the only thing that should be stopped is an "attack" on the network, though i don't think the issue of ordinals can be called an "attack" on the blockchain, maybe spam feels like the right word. Op is saying high TX fees makes him want to hold his BTC, forgetting that it also stops other people from spending their BTC, and BTC is a currency, normal TX fees allows everyone to do what they want with their BTC and we should get that back soon. 
High transaction fees don't make me stronger, because I never tried to sell my Bitcoin, I don't care about fees and transaction time. The price is not so good to buy it anyway, especially when you compare it to what we saw earlier this year.
I would rather hold my BTC and wait for the right time to have transactions since the fee is too much. Many people are trying to enter and leave the market with the volatility of Bitcoin, so these fee still have an impact to one of the reasons why people would prefer to hodl their BTC. But for me, I agree with you since I'm passive with the current situation of the market so I'll just take my time and sip coffee.
High transaction fees don't make me stronger, because I never tried to sell my Bitcoin, I don't care about fees and transaction time. The price is not so good to buy it anyway, especially when you compare it to what we saw earlier this year.
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.
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.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.
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. makes me stronger holding btc, because my goal is to invest in btc for the long term.
I initially thought so too, but seeing far from the main purpose of bitcoin, finally bitcoin really encountered serious obstacles if people wanted bitcoin to be implemented in all business sectors. The value of bitcoin, of course, is obtained from its utility function, when this function starts to fall out of favor because of endlessly expensive fees, then you can predict what will happen.
As we all know lately, lots of people are transacting BTC and causing traffic jams because of the many queues for BTC transactions
Incorrect, it's true if many people are transacting BTC, it will make the fee become higher. But this time the reason of high fee in Bitcoin transaction is because of BRC-20 tokens.Quote
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.
If your goal is to invest for a long term investment, either the fee is high or low it will not make you sell your coins. If the fee is low, do you will sell your coins? nope, because as you said before you're looking for long term. makes me stronger holding btc, because my goal is to invest in btc for the long term.
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.
It is passively holding your bitcoins, not proactively. You are forced to hold your bitcoins because you don't want to waste too many satoshis for transaction fees. If you don't proactively do holding it, you will return to not holding it when mempools are clearer and network has cheaper transaction fees.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.
Different people will consider Bitcoin differently.It can be very valuable with you but valueless with others. You can consider it as a payment method but with others, they don't. You can just use Bitcoin for trading but with others they do neither like Bitcoin for trading or investment.
Bitcoin can be an asset of value storage for you but it is nothing with others. People who used very crazy fee rates for BRC20 tokens, Ordinals have their reasons to do so and you can not stop them. They will stop when they realize something like Ordinals, BRC20 tokens are useless, no value at all.
Even though BTC transactions are cheap, of course I won't sell them because I invest in BTC for the long term, not the short term.
moreover there will be a bitcoin halving soon, so in my opinion now is the right time to hold btc.
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