I think for most retail just starting out, the fees don’t affect them because they either leave their bitcoin on the exchange or they are dealing with altcoins where fees are low.

This has been discussed for years. For major bitcoin adoption we will use an l2 solution similar to lightning. Doing transactions for coffee purchases on the main chain just won’t work, even if the mempool was empty it would not be worth it anyways due to the long block times. Hence we need better side chains pretty much for the job. Transactions on bitcoin blockchain can be for long term storage such as cold storage.

The mempool is still big and has a huge queue however what is different this time is that more of the transactions have lower fees than before.

There are tons of transactions now in the 20-50 sat area, before there was tons closer to the 100 sat area. So if you wanted a transaction confirmed quick, you had to spend at least 120-150 sat/byte. Now you can spend 50-60 sats and get it confirmed.

Crazy the amount of money that people sent to that Genesis block.
I am pretty sure it will never be moved and it’s considered lost. Even some of the recent donations sent there have been large. I understand you want to piece of history but will anyone actually check all those transactions? Probably not.

Coinbase also tweeted the hash of the first block and many had no idea what it means. It’s also crazy seeing how low the difficulty was back then compared to now and how we need these ASICS all around the world to solve the next block. I remember my first Antminer S1.

What is scary is how 80% think it will be approved this month. This is getting to the point where everyone expects it to be approved and usually when the herd is going one way the opposite happens.

Reminds me of 2017, people were 99% it would be approved and instead it was rejected and we had a nasty spike down. But the remainder of the year was still bullish when bitcoin broke $1K all the way to $20K.

He actually made a prediction like 2 weeks ago and it was also before bitcoin hit $45K and was sent down to $41K. And after this tweet of his, I also got nervous and was hoping he wouldn’t be wrong but a few hours later it was proven he was wrong as usual.

I don’t understand why he has such a bad track record. Only reason I can think of is that people watch his show, they buy the stocks he picks and then it causes price to go up a little and then all the smart money gets out then because he tweeted or mentions the stock on his show.

Ark doesn’t have those $200M worth of GBTC shares. They sold them all last week and bought $100M worth of Bito. No idea why. Maybe some conflict of interest since they are both launching an etf.

Jan 10 th is the assumed date but it’s only to approve all. But the final deadlines are far into. 2024. If it doesn’t get approved by mid of late Jan then we might see some sell off due to a period of etf delays for months like in the past.

Yeah in TradFI many are speculating that tomorrow will be the day that the etf gets the approval. So it coincides with the Jan 3rd genesis block launch date.

Today prior to NY open the futures went crazy. Had a huge premium over spot. Seems something leaked and someone knows something because this is unusual trading activity.

You can’t get an accurate answer to this question. One person can hold basically 20-50 different addresses in the same wallet. Most don’t want you to reuse an address and usually a change address is unique. So due to this there could be many addresses for each and every Bitcoin holder.

Wallet downloads don’t mean anything because people can hear about bitcoin, download the app, then realize there are tons of documents to fill out and give up.

I don’t know which country you are from but I never heard of anyone tipping a security guard. And these days it seems like everyone wants to get tipped.

We get asked to tip when picking up an order, getting a haircut, taking our food ourselves at a fast food joint, etc and it’s getting out of hand.

Tipping should only be for waitresses in actual sit down restaurants. Tipping anyone else is just getting out of hand in my opinion.

We are hearing rumors both ways. Some say it will be approved others say it will be rejected.

But if you look at the chart for the last few hours, we hit a new yearly high and we are still going up. Seems some news might of leaked and I think some people are trying to get in on the action before it’s approved officially and prices go even higher.

The way RBF works is that the nodes and miners see that you are offering a higher fee and they usually ignore the original transaction.

I think you are confusing this with child pays for parent. It’s where you got 1 transaction which is older with a small fee and you got a newer transaction with a much larger fee using the unconfirmed input, so the miners will usually confirm both transactions as long as the average fee for both is high enough.

The sad truth is that the majority of people who get into bitcoin or crypto for the matter is for personal gain, they aren’t in it for the technology.
Most people deposit their fiat into their exchange, buy some crypto, leave it there and sell it in a few months or so and withdraw. They just do it out of speculation.
So whenever there is a huge rally it’s when we get this huge surge of people who just want to get rich quick. Pretty sure this wasn’t Satoshis original vision.

Yeah I’ve been using this also. The only issue is that last week for a period of 4 days or so it was always full. The new hour would start and all the 100 slots would be used up. Almost instantly.

I tried 2 days ago and finally got a spot and it worked. However if you need to get more transactions in, do it soon because most likely with bitcoin hitting new highs it will only get worse from now on.

You should not  buy more when price is higher and buy less when price is lower. Do the opposite.

This is what Saylor did back in 2020, he bought small amounts in the $10K area and then when it peaked at $69K, he bought tons around that area and his average ended up being $35K or something because he started to average up at a different price than earlier.

So either buy the same amount or buy more at lower prices and less at higher prices so your overall average isn't too high.

You can do this if you want. There is no risk. It’s very rare to capture a flash crash all the way down to $1K. However I happened before on illiquid exchange and pairs.

The issue here is you will need to provide capital to keep those orders in the book. You will need actual fiat on the exchange when you set the order at $1000 and you won’t be able to withdraw it because it needs to stay on the exchange if you want the order to be active.

Haven’t heard about Ftx 2.0 in many months. I think the trustees suggested it rebooting and that’s about it. I think it’s possible at the moment with all the funds they secured from the SOL and BTC gains but the issue is that it won’t be straight forward.

I don’t think they can simply just turn it back on and let everyone trade like before. There is just going to be too many challenges and due to this , I don’t see it actually making a reboot. Most likely people will get their funds back and it’ll be closed forever.

I rarely do any p2p bitcoin transactions now a days but if I did it wouldn’t be on the bitcoin network. And the fees are only half the problem. The other half is the wait time.

I remember years ago, doing some p2p meet and I think it took 1.5 hours for the block to confirm. And this was when blocks were empty, basically default fee was like 10000 sats which was a few Pennies back then.

If you do p2P you need it cheap and quick. Best is Ethereum with a stable coin of some sort like USDT.

It works again. Just got a transaction in. 5 minutes after the hour and there are still 60 spots left or so.

So if you need to get some urgent transaction in then do so now before the bots return. There is a good chance the bots are taking a day off for New Years and will be back at it in a few hours. Either that or the admin somehow banned these Ordinal transactions from spamming their TX accelerator.

Generally if you are borrowing money, you don’t get any rewards. One reward can be they offer you a lower interest rate. However you won’t get any rewards by borrowing money.

If you keep money in the bank then they will reward you by paying you interest. Then this money they lend out and charge more interest. However depending on the bank, the savings rate is small. So most put it in a money market.

No, they would most likely earn less.

The only reason why fees are high now and people are paying high fees is because only 2500 or so transactions can fit in a block. So if they increased it by 10x the mempool wouldn’t be clogged and people would pay the min 1 sat byte fee and miners would end up actually making less money.

And we would also lose nodes due to the bandwidth and space requirements for such large blocks.