The fees will of course rise if the price goes to 20 thousand but I'm sure that it won't be as bad as in 2018. That situation was different with network undergoing a transaction spam.

I don't see high fees as something abnormal, on the contrary, treat it as something bigger and more valuable. The cost of transporting $1000 worth of sand is going to be lower than the cost of transporting an amount worth $2000 and nobody finds that strange or arguable. Try sending a million USD to Europe and you'll see what the fees will be for that transaction.

That's one important thing.

The other is that it's natural that sending a transaction when 1 Bitcoin is worth 7000 dollars like in the beginning of this year will cost less in USD than sending the same transaction when the price is 12000.

People who count fees in USD often complain that the fees are higher and forgetiing that price tripled this year low to high.

Their coins increased in value and all they care about is that the fee also did.

High transaction fee in 2018 was due to lack of consensus on Segwit and Roger Ver and his BCH minions trying to spam the BTC network while launching a defamatory campaign and calling BCH the new king.

They were trying to make people sell BTC and buy BCH just to be able to send money to exchanges cheaper and faster and it work as you could see the BCH price reached ATH on that month.

I don't think it's ever going to happen again unless someone spends a lot of time and money to spam the network again.

I feel the same.

I was a bit bearish earlier this year and predicted that we'll stay below 12000 until the end of the year but I did not take the PayPal news into account. I guess nobody did.

Last week I had a friend who has not asked me about BTC since 2018 call me to tell me that he's thinking of buying bitcoin again. It's an obvious sign of FOMO on the market.

It was the same at 10000. If you look at the charts you'll see that in September we got rejected twice from 11000 and fell back to 10400 and went back to 11000 in october to finally break above 11 and get rejected 3 times in one week by 11600 before that PayPal breakout. The trend is learly bullish and rejections only slow us down a bit.

14000 is the top from last year so everybody knew it will act as resistance but I think that it will be broken soon.

Profit is good but if we went to follow that advice with every single investment we'd always end up with a low/mediocre profit.

Many early Bitcoin investors did that mistake and sold when their investment doubled. How would you feel now if you had 100BTC bought for $100 a coin and sold them all for $300 in 2013 and then came back in 2017 to see 20000 USD?

Of course the above doesn't change that most altcoins are bad and will depreciate in value over time. You have to know what to hold.

There are hundreds of opportunities that we're missing every year but we don't know about them so we don't feel bad.

OP thinks what would have happened if he bought BTC because he's now interested in BTC, but he is not interested in, say, stocks. We could say that if you bought Tesla early you could also make a lot of money. This will lead only to a spiral of negativity because there was a boxing match you could put your money on, because you felt like you knew who was going to win and you were right. You could buy that piece of land nearby for cheap and now they found oil there and so on, so forth.

I guess we're on the way to make this into another mega thread

The best thing about Bitcoin is it gives you complete control. Each coin you buy can be taken out of the system if you choose to.

One of the easiest options is to have a hwardware wallet with a hidden code. The code can be even put in a safety deposit box with the wallet remaining hidden at home. When you die your family will be able to get access to the deposit box and use the code to unlock your wallet.

You can also give parts of the wallet phrase to members of your family. Only when combining it together they'll be able to unlock the wallet.

His opinion was already discussed in a number of threads.

I can summarise everything in 2 simple sentences.

1. Warren is an old guy who never invested in any tech companies so his opinion on tech isn't something I'd value.
2. Bitcoin is used for much more than trading. He doesn't know what he's talking about.

What money does they really have control of if people are using m-pesa payments instead of their local currencies because they're worth more?

At some point you have to realize that making another trillion dollar bill sin't going to put you in power because people are already using your bills to light their cigarettes and wipe their asses.

Not only the miners but also holders. I don't believe that people who bought coins for a few million USD OTC @ $11000 and are holding it in cold wallets as a hedge would now move it all to binance or something because someone is setting up $50 thousand buy orders. I'd feel like it's a scam or the exchange was hacked.

Even if the orders would remain people would get smart and send some money to that exchange  but setting higher and higher sell orders to test out how desperate these people are.

So if I had 10 BTC to sell I'd put up 1 for 60, 1 70 and so on. Soon they'd be paying hundreds of thousands of dollars for each coin or not buying at all.

OP that's not possible. You don't understand how the free market works.

If even 16 million is really in circulation and accessible how much of it do you think is on exchanges? I'm sure it's less than half of it? Then how much is in open orders available to be bought? Half of that? So only 3-4 million BTC can be bought if you had enough money.

Even if you had unlimited money and wanted to pay 50 thousand USD for a coin right here right now you'd maybe be able to buy a few million coins.

Good luck, it's your funeral.


I like when people use low tx cost and high speed to prove that a coin is good. It makes no sense!
Bitcoin Turbo Koin had low tx cost and fast transactions. Does anybody care? On the contrary Bitcoin has high cost and low speed and it's the most popular coin out there.

When Ripple company goes out of business BTC will still be there with its high tx cost.

Don't be so sure of that last part.

In 2010 nobody thought that Bitcoin could be regulated and accepted as legal tender in a country and a few countries have done it. Some poor countries with weak and hyperinflatinf fiat currencies will one day decide that it's better to use a valuable decentralized currency than a worthless centralized fiat that people don't use and prefer to trade using loaded sim cards.

I also don't feel like the strange scare caused by the virus made people go cashless. Sure, the e-commerce is booming but in most cases you still can pay cash upon delivery.

There may be more people using online payments in countries where there's quarantine and you can't freely visit stores but that's all.

If you're looking for ways to explain the Bitcoin boom I feel like it would happen anyway with or without covid.

I think their card is going to make btc payments easier and bring more users to crypto because they will finally be able to spend from the same exchange account they uused to buy and trade.

The most obvious cons of this method are more centralization and less security. You'll have all your coins on a centralized account used for trading/holding/spending. There were many card hacks where people were able to withdraw from your card by walking next to you or fitting scanners in ATMs. If they steal fiat money a bank can trace it but with BTC card users will be in greater danger.

It won't weaken fiat money. Binance is just a single company and even with paypal the number of users of those BTC payments will be small. How much of the market will they able to take from fiat? 0.01% globally? It would be great if it was even this much.

I don't think that most BTC traders use usdt. Do you have any statistics to support that?

Most trades around the world are made with fiat money.

USDt can crash regardless of what the USD price will be. USDt is not 100% backed by usd. not even 90%. We don't even know how much they really have.

This doesn't make it a good coin.


So do hundreds of altcoins that nobody uses.
Low fees and fast transfers don't make a coin good!


What fundamentals? It's a centralized company coin that lost 90% of it's value from ATH.

If he's right we can expect another big bull market because it really doesn't look like Trump is going to win this time.

Even if people believe in Biden he's not going to do anything for Bitcoin. The world and the price of Bitcoin doesn't depend on elections when both candidates don't seem to care about BTC at all.

It does increase visibility. The name and logo becomes more recognizable and you're increasing traffic on the project's site, getting more people to join telegram, getting more people to download wallets and click referral links.

It does not increase credibility. If you want credibility you need to have a known dev team or pay someone to promote you. John McAfee used to sell his own name to add credibility to projects, but this made him lose his own credibility