RSS Feed
December 27th, 2017 
Awake Goy
Bitcoin is Eating Itself
December 26th, 2017
Disclosure: I hold Bitcoin and other cryptocurrencies.
—
Bitcoin has become utterly terrible to use. The slow confirmations and high fees are insane. The article below is old. The average Bitcoin transaction fee is now $41.66, which is down from a record high $55.16 from a few days ago.
I did a couple of small transactions with Bitcoin Cash and couldn’t believe the speedy confirmations and pennies for fees.
I like the look of Dash. Lite Coin has a vocal fan base, but can it scale?
What coins do you think have potential to become a popular transaction medium?
Via: Medium:
Fees keep going up. And every time they go up, more of the money stored on the blockchain becomes worthless.
Over 3000 BTC, worth over $4M, is stored in “coins� (or “utxos�) whose value is too low to be spent in a normal transaction without incurring fees greater than the value of the “coin�.
If fees were back at January 2017 levels, only half as much stored BTC would be worthless. Bitcoin is eating itself.
<!–
–>
<!– AD CAN GO HERE
END: AD CAN GO HERE –>
Leave a Reply
You must be logged in to post a comment.
Source Article from http://www.cryptogon.com/?p=52141
Related posts:
Views: 0
Posted in 
Tags: 
