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Many people are supporting Andreas Antonopoulous. Last week he had received up to 100 BTC in donations. Now he is at 150 BTC.
The thing is he is not actually saving these bitcoins. He is selling them for fiat currency to pay off his debts from not working and to pay taxes.
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What is the best exit strategy?
Stop-Loss of 20-25%?
At a certain return... say 200-300%, 500%, 1000% ROI?
Based on current events?
When is the best time to cash in bitcoin...
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I think the current price point is extremely high. Just in my honest opinion. It might go much higher before it crashes down, but I think the current price is unreasonably high
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if more people use SegWit and LN which will be ready in few months, this problem will be solved SegWit helps out a bit. But isn't it still very expensive? Around $20 at the moment to send with SegWit? Look, this happened before and I am getting used to it but it will be fixed after a month or two. Actually mining fees are only going to get more and more expensive. That means fees overall will continue to rise unless bitcoin falls in price |
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At this point the risk and fees are too high The risk and fees are definitely two of my biggest reasons. I also don't think the price can be sustained |
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it's inevitable to fail as a currency with the current fees. I agree. With the fees this high already, it is very scary how high they might get. |
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Suggest that we all use sewgit address, you can save fees about 50% So how much does it cost using "SegWit" at the moment? Fees on bitcoin are around $35. Is SegWit still costing around $17.50? |
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I think bitcoin is very dangerous for many different reason.
A. Dangerous as an investment because of the amount of risk involved
B. Dangerous as a financing tool because of the crime, drug trafficking, money laundering, gangs, and online gambling companies it supports
C. Dangerous as a form of currency because anything on the internet can be hacked
D. Dangerous as an ideology because it can promote anarchism and world chaos
So Yes, I would say bitcoin is dangerous for those reasons.
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Are there any environmental friendly cryptos? Bitcoin is destroying so many resources
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yes it too high , but the fee get higher because bitcoin is rising and the problem is for people who have micro transaction on bitcoin I agree. Say you have $100,000 in bitcoin a $35 fee is very minimal Say you have $1000 in bitcoin a $35 fee is 3.5% of your money Say you have $100 in bitcoin a $35 fee is 35% of your money!! It doesn't make sense to buy small amounts of bitcoin at a time, because the fee is so absurd. It is sad because it will ruin things like online tipping Which is a really cool concept  |
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I think if you only have a small amount invested in BTC it makes sense to collect now. Fees are going to become so high that it will cost more to cash out small amounts of bitcoin than it is actually worth. As of right now it cost $35 to cash out. So if you have $50 it is only worth $15 technically because of the $35 fee you have to pay
.01BTC and less investments no longer make sense. If you are going to buy bitcoin I think 0.1BTC per transaction should be the minimum to overcome fees
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Yes Segwit appears to be one of the better solutions as of right now. The problem with that is it could still take approximately 15 hours and cost $5 at this point. That is more than the average fee of an ATM and there is a waiting time of 15 hours. For that reason I believe the current solutions aren't very effective for overcoming the $35 fee. It appears the fees will continue to go up. Not just because of congestion, but because it will cost more to mine bitcoin, and the fees need to cover that. What happens when the fees reach $100s of USD...
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Are the fees exactly the same no matter how much you send?
So it cost $35 to send $35 in BTC right now.
Would it also cost $35 to send $100,000 in BTC?
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I agree the fees are getting too high for smaller size investments, which is unfortunate. It is changing the way people use and think about bitcoin
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Since there are so many threads on Bitcoin Fees right now, I put together a list on the first post for easier access I tried to pick threads that cover different topics so there isn't too much redundancy  * if anyone else wants to add a valuable thread to the list let me know. especially if it covers the solution side of the topic! |
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there is no one behind to manipulate it unless you have a lot of bitcoin There doesn't have to be one person behind the scheme. Everyone who buys into it is essentially part of the process. The creators don't have to have bad intentions and the miners don't have to have bad intentions. Like you said, bitcoin can be manipulated by ANYONE who has a LOT of bitcoin. 3% of the addresses control 97% of the bitcoin. And there could be people/group that control many addresses. Stop thinking there has to be one evil person behind it. And look at the entire picture instead. |
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A lot of people are saying that bitcoin is becoming less of a currency and more of a storage of value. I think the fees reflect this.
Fees go toward:
A. Miners
B. Exchanges (like coinbase)
It appears that the fees for A. Miners will continue to rise. Since the coins will become very costly to produce.
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people are getting huge returns based on their investments This is an interesting debate. You don't get any return until you cash out. And from what I see most people are HODLers If the price were to crash, it would be so slow to sell off and so expensive to do so, that millions of investors could lose all of their returns. Who are the losers going to be on bitcoin? There has to be losers in order for there to be winners. 500B in profit can't just happen (the current market cap of all cryptos) without there being lots of people losing too. I predict the addresses holding most of the bitcoin will have a dramatic influence on BTC price if and when they choose to "cash out". |
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So if the fees went up $10 in just one day...
$24 to $34.
How much are the fees going to be next week? I fear the fees will reach $1000s of dollars and it will force all the small investors out. No one will be able to sell their bitcoin because it will cost too much to do so
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