Bitcoin Forum

Depending if you are in to it long term or more trading

As to long term, I stronlgy believe that the limited 21M volume can only lead to an increase that will be supported by the worldwide decentralised population.

For trading, curious to see what the entry of tomorrows futures handling will give.  To be checked.

So I'm going to wait a while and jump back in when it is clarified what we are hadding to, maybe enjoying a small correction to get back in at a lower level.

I think hodling is eventually going to win out. Bitcoin transaction fees are too high for trading anyway, at least for my taste. And since it's proven so far that the price increases in the long term, I see no reason not to hodl. If you want to trade, altcoins are the way to go.

Transaction fees are high at the moment, yes. But this is due to a massive amount of transaction waiting to get confirmed.
Additionally we aren't too far away from lightning getting implemented as an additional layer 'on top of' bitcoin.
This will create the possibility to create/join payment channels and to not have to push every transaction onto the blockchain 1 by 1.
So the TX fee problem is being approached and is going to resolve soon.

And just because an asset 'has proven so far that the price increases' it is nowhere near a good investment.
You can't imply a rising value just because the value has risen in the past. That won't work well in the long term.

All of the traders that are joining in right now are here for the short term, they want to see VERY big gains in a very short amount of time. That's me saying that I doubt they care for the long term, that means that they're going to sell once Bitcoin hits a certain price point for them (be it to capitalize on their gains, or to limit their losses)

I know how some can see the 21m volume point as something to look forward to, but I highly doubt it's going to help. Think about it. All of the fees are going to be created from the people  and that's going to be a pretty penny if the miners get their way. With that said, I can't see people wanting to get into using Bitcoin if the FEES are insanely high.

We'll see I guess.

Fees are high, that's for sure now. But if we compare it to the situtation was a few years ago, when bitcoin was below $1,000, the fees are nearly the same, if you nominate them in bitcoin. You can say that nowdays you have to pay over 100 sat/B fee (well, over 400 sat/B for priority) which is a really huge sum of money in USD, depending on a transaction, it can reach $20 or so. Let's say we are at $10,000 (just to calculate a bit easier). This fee is the same in bitcoin, but when bitcoin price was at $1,000 the same fee was just $2 in USD. So if you want to compare it, don't forget about the effect of the price of bitcoin.