 Bitcoin price is nearing $3000, and when it does, we will no longer be calling the 0.0001BTC Transaction Fee, "low". It will have reached price parity to send goods & service payments through PayPal, of $0.30 per transaction when it hits $3000 value. Why would people use it as a simple money transfer technology if they can use PayPal much easier? Should there be a premium to send Bitcoins, or was the actual intent of Bitcoin to make it cheap and easy to send global payments? If it was, did they never expect Bitcoin to reach this price? What will be done to accomodate it, and will the people who don't care about the "fee" make it less and less affordable? On another note, Ethereum. Nearing $200 per ETH, how are exchanges like Poloniex to deal with the minimum deposit they have set for ETH of 1ETH? That is a huge minimum in comparison to any other coin, and I think it has had the major impact of forcing a pumping of the price due to the sheer lack of people who mine ETH earning that much value in any timely manner. Thoughts?
| author | technium |
|---|---|
| permlink | bitcoin-price-can-it-be-too-high-not-to-mention-eth |
| category | bitcoin |
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Is it possble to change transaction fee if price of bitcoin comes too high?
| author | sanevys |
|---|---|
| permlink | re-technium-bitcoin-price-can-it-be-too-high-not-to-mention-eth-20170525t120659115z |
| category | bitcoin |
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Yes. But unlikely...
| author | dracosalieri |
|---|---|
| permlink | re-sanevys-re-technium-bitcoin-price-can-it-be-too-high-not-to-mention-eth-20170525t120955828z |
| category | bitcoin |
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The only things I have heard of that are even real possibilities are the "Lightning Network" and "Segwit" which one of, or both, would make it so you can make microtransactions on a blockchain on top of Bitcoin's, which would allow for tiny fees from what I understand, but that started the whole notion of a Bitcoin Hardfork from what I understand.. which would defeat the point..
| author | technium |
|---|---|
| permlink | re-sanevys-re-technium-bitcoin-price-can-it-be-too-high-not-to-mention-eth-20170525t121139240z |
| category | bitcoin |
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hiveblocks