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Author Topic: Is $1.1 Billion Transaction in Bitcoin That Big of a Deal?  (Read 191 times)
blckhawk
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January 19, 2020, 04:22:06 AM
 #21

What alarming conclusions? It just proves that Bitcoin is an excellent platform to be in when handling macrotransactions. It provides excellent security with minimal fees (unlike traditional banks) and much faster than going through all verifications in a traditional bank transfer. This isn't something to get FUD on since it's not a whale dumping all his coins in the market, which would be roughly 3.2% of daily trading volumes. It's just an address transfer and does not contribute to decrease of demand for Bitcoin.
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January 19, 2020, 04:25:40 AM
 #22

Such transaction is actually huge in my view. If you compare the value of that transaction to how much bitcoin it is, then you can appreciate that is high. I think that such transaction is showing us that the bitcoin business is really getting a huge attention.
Bitcoin look get huge attention with many people want to make investment with bitcoin by higher amount, when bitcoin have been destination for investing many people will make bitcoin raise with higher price and look profitable way with investment. Bitcoin become most safety assets if you invest and make it as your way.
It can't be assured that bitcoin can be a safe assets due to it's volatility, but with ore adoptions and businesses to participate and start bringing
money to make more strong foundations. Bitcoin is a good for long term believers as they can work it out, portions of investment for long term
and the other portions can be deal with short term scalps. It will be depend for each perceptions and point of views.

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Eugenar
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January 19, 2020, 06:00:29 AM
 #23

What alarming conclusions? It just proves that Bitcoin is an excellent platform to be in when handling macrotransactions. It provides excellent security with minimal fees (unlike traditional banks) and much faster than going through all verifications in a traditional bank transfer. This isn't something to get FUD on since it's not a whale dumping all his coins in the market, which would be roughly 3.2% of daily trading volumes. It's just an address transfer and does not contribute to decrease of demand for Bitcoin.

Well, the opposite will probably happen with this, instead of a decrease of demand for using bitcoin, people could see it as the best platform to transaction even billions of dollars with the best possible maximum security they could have. But let's focus more on the transaction fee, for me, it do really cost allot considering us, having not that much amount of bitcoin, these kind of transactions would be even possible if bitcoin system could adjust more to lower down the transactions fees.

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Twentyonepaylots
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January 19, 2020, 04:20:38 PM
 #24

What alarming conclusions? It just proves that Bitcoin is an excellent platform to be in when handling macrotransactions. It provides excellent security with minimal fees (unlike traditional banks) and much faster than going through all verifications in a traditional bank transfer. This isn't something to get FUD on since it's not a whale dumping all his coins in the market, which would be roughly 3.2% of daily trading volumes. It's just an address transfer and does not contribute to decrease of demand for Bitcoin.
He might be capitalizing on the fact that it the transaction fee was relatively higher on this particular transaction than with others. But he also have to understand that the transaction is 125000+ worth of bitcoin and the one he's focusing on is a mere 40000. So there will indeed be a higher transactio fee than the usual. But nonetheless, things like this are only evidences of bitcoin being a very efficient type of cryptocurrency that can even surpass banks itself. This is great news for me.

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mahilchii
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January 19, 2020, 04:44:07 PM
 #25

safe and convinient to use compared to banks.
Agree that bitcoin is more convenient but I think bitcoin is not more secure than banks, the banking system has a long history and it has a very high level of security.
Bitcoin has only been around for more than a decade but we have seen many hacks and lots of stolen cryptocurrency. Meanwhile, we rarely see bank robberies of large scale and stolen money.

I agree banking system has more security because people are follow this from ages, let's give some time for crypto currency too. Crypto asset is made only to secure financial transactions that's why it's known as decentralized digital payment structure.

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pixie85
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January 19, 2020, 10:56:08 PM
 #26

I agree banking system has more security because people are follow this from ages, let's give some time for crypto currency too. Crypto asset is made only to secure financial transactions that's why it's known as decentralized digital payment structure.

Time has nothing to do with security. Old systems become obsolete. We shouldn't think that banks are safer than bitcoin because people used to trust them for a long time. How many went bankrupt and lost money? What about The Lehman Brothers?

People are scared of big transactions because they think a dump is coming. In reality people who have a lot of money to spend don't want to crash the market. They want to make more money.


Ratash
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January 19, 2020, 11:04:17 PM
 #27

Even if the transfer is for a cold wallet it means that these bitcoins will not be circulating which means that the bitcoin will rise in price because the circulating supply will be reduced.

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January 20, 2020, 05:02:59 AM
 #28

I agree banking system has more security because people are follow this from ages, let's give some time for crypto currency too. Crypto asset is made only to secure financial transactions that's why it's known as decentralized digital payment structure.

Time has nothing to do with security. Old systems become obsolete. We shouldn't think that banks are safer than bitcoin because people used to trust them for a long time. How many went bankrupt and lost money? What about The Lehman Brothers?

People are scared of big transactions because they think a dump is coming. In reality people who have a lot of money to spend don't want to crash the market. They want to make more money.


to make lots of money certainly not from investing, we must know the right time to shop for bitcoin, the large number of transactions whether selling or buying will certainly affect the movement and it can affect the psychological other traders to react to the market


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