Sup fellas...
Are we bleeding down to $1500-$1700?
Or trying for $3000 again?
And what's gonna happen on August 1st? Anyone else a little worried about UASF vs Jihan??
Are we bleeding down to $1500-$1700?
Or trying for $3000 again?
And what's gonna happen on August 1st? Anyone else a little worried about UASF vs Jihan??
Well, transaction fees to get into next block are now $2.18, so bitcoin is now more expensive than an ATM. This means it's usage as a currency is rapidly dwindling and putting it into settlement network only territory, except it doesn't actually function as a store of value like metals, so not useful as a settlement network. The fundamentals just don't make any sense in that regard. I assume the bitcoin traffic will also begin to spill into another coin looking for lower fees (probably litecoin).
Well true but the solution for transaction throughput is there... the community just needs to agree and implement which I think will happen.
BTC is still a better store of value than precious metals. Upside potential far greater than gold/silver... with greater ease of access and ability to move the value anywhere in the world, not to mention use it for online shopping and via ATMs.