Opportunities for Bitcoin holders increase

[AprilioMP]

bitinfocharts.com

Bitcoin network fees are still high. It wouldn't be bad if this situation continued until the end of the year because it could lead to an increase in holders.
People will consider several times the desire to send when transaction costs are expensive unless it is for reasons of urgent need.

The highest transaction fee is around 86 sat/vB. Requires about $4.49. Previously, about a few minutes ago the highest transaction fee reached 111 sat/vB.
Take reference from bitcoindata.science to see changes in costs.

[Jawhead999]

What's the relation between not send Bitcoin will increase Bitcoin holders? if they not want to send Bitcoin, it means stagnant, not increasing.

Small or high the Bitcoin fees not really give a big impact to newcomer to buy Bitcoin because they mostly will buy Bitcoin through CEX, then hold it without move to his non custodial wallet.

[PrivacyG]

Never thought I would see the day coming where Bitcoin Talk members praise Mempool congestion for making it difficult for some Bitcoiners to use their own Coins.

It would be great if there were more holders as a consequence of a positive event.  Bitcoin has more holders than EVER before after an unexpected uprise!  Would be a good headline.  But maybe it is not the best idea to consider Mempool congestion a positive story after all.  We should rather find a way to solve the issue of those people who find it difficult to spend during congestion than find ways to make more people not be able to use their Coins.  Defeats Bitcoins purpose.

[AprilioMP]

What's the relation between not send Bitcoin will increase Bitcoin holders? if they not want to send Bitcoin, it means stagnant, not increasing.

Small or high the Bitcoin fees not really give a big impact to newcomer to buy Bitcoin because they mostly will buy Bitcoin through CEX, then hold it without move to his non custodial wallet.

Not for newcomers who will buy, but for owners who already have Bitcoin in their wallets. With high transaction costs, they will refrain from sending until transaction costs return to normal.

I mean, by not sending or making transactions because of high costs, it can reduce the number of people and I consider them Bitcoin holders until transaction costs return to normal even though the holders in question are not what I mean because of this situation.  

Never thought I would see the day coming where Bitcoin Talk members praise Mempool congestion for making it difficult for some Bitcoiners to use their own Coins.

It would be great if there were more holders as a consequence of a positive event.  Bitcoin has more holders than EVER before after an unexpected uprise!  Would be a good headline.  But maybe it is not the best idea to consider Mempool congestion a positive story after all.  We should rather find a way to solve the issue of those people who find it difficult to spend during congestion than find ways to make more people not be able to use their Coins.  Defeats Bitcoins purpose.

As a Bitcoin supporter, of course I don't mean it like that. I don't mean to feel happy when friends have difficulty spending coins.
If this response could be negative, maybe I wouldn't keep this topic open, I would lock it.

[cryptoaddictchie]

Thats quite witty mate. I really thought some sort of earning for holders but a reason to hold due to a huge transaction fees. Well thats a funny sarcasm in my opinion. Maybe due to ordinals bitmap thing happening and probably the reason of the increase in tx fees. But if you are a retailer might as well hold it and if you got a litttle fraction of bitcoin since youll only spend couple of dollars for small gains. So better to hold it for a very long term.

[Fivestar4everMVP]

Never thought I would see the day coming where Bitcoin Talk members praise Mempool congestion for making it difficult for some Bitcoiners to use their own Coins.

It would be great if there were more holders as a consequence of a positive event.  Bitcoin has more holders than EVER before after an unexpected uprise!  Would be a good headline.  But maybe it is not the best idea to consider Mempool congestion a positive story after all.  We should rather find a way to solve the issue of those people who find it difficult to spend during congestion than find ways to make more people not be able to use their Coins.  Defeats Bitcoins purpose.

You are completely right, I had exactly same thought while I was reading the op, mempool congestion is not something we should praise, but rather, find a lasting solution to.

Many of us stopped keeping money in banks because we don't trust them to hand over our money to us the very time we need it, and we moved over to bitcoin because, with Bitcoin, we believed we had access to our money (no matter how small) anytime we need it for some anything urgent.

And here we are, mempool congestion is making that freedom bitcoin represents to seem like a sham to some people, who may not be able to transfer their bitcoin because the cost of doing so is to high for them to pay, so they are forced to hold it, and surprisingly, some of us think this is actually a good thing.

Personally, I can tell that the reason why bitcoin holders is rising is because of the coming bull run which alot of people are already preparing for, not because mempool is congested and cost of sending bitcoin is high.

[ultrloa]

Never thought I would see the day coming where Bitcoin Talk members praise Mempool congestion for making it difficult for some Bitcoiners to use their own Coins.

It would be great if there were more holders as a consequence of a positive event.  Bitcoin has more holders than EVER before after an unexpected uprise!  Would be a good headline.  But maybe it is not the best idea to consider Mempool congestion a positive story after all.  We should rather find a way to solve the issue of those people who find it difficult to spend during congestion than find ways to make more people not be able to use their Coins.  Defeats Bitcoins purpose.

Those issues where actually the one can possibly disappoint those new holders since they can't do anything with their holding since they afraid to lose a lot more money due to huge fees brought up by network congestion. And I don't convince that people will be more interested about it if this continue to happen since for sure every transaction they do it hurt them so bad that's why hopefully there's a institution can way find way that can create other alternatives that can help bitcoin to lessen up the congestion and fees since if this would really happen for sure many people would love to adopt it and possibly try those opportunities what they think that can offer to them by adopting cryptocurrencies.

For now since situation like this occur maybe we can see not so high increase of users since they would provably consider if they can earn and will not lose anything nor struggle to handle something that they can't afford to do on multiple times

[Jawhead999]

Not for newcomers who will buy, but for owners who already have Bitcoin in their wallets. With high transaction costs, they will refrain from sending until transaction costs return to normal.

I mean, by not sending or making transactions because of high costs, it can reduce the number of people and I consider them Bitcoin holders until transaction costs return to normal even though the holders in question are not what I mean because of this situation.  

But most of Bitcoin holders whether new or old is holding their coins in CEX, as I've said network congestion has no impact for people who hold their coins in CEX, they can sell it without any problem.

You seems not understand with my previous post, stagnant ≠ increase.

If I pour a water in my glass, my glass will be filled with water. If I not pour it, my glass is still empty.

[nelson4lov]

The spike in transaction fees might be undesirable but it's just for a while. Just last month, we had some of the lowest fees across the board at 3-16 sats/vb and we'll have such times again in the near future once current backlog is cleared.

Bitcoin network fees are still high. It wouldn't be bad if this situation continued until the end of the year because it could lead to an increase in holders.
People will consider several times the desire to send when transaction costs are expensive unless it is for reasons of urgent need.

If the transaction fees stay high for far too long, It would leave a sour taste in the mouth of users especially those who just got onboarded in recent times. How do we get people and businesses to adopt bitcoin more if both users and merchants spend so much value on fees? The cost in traditional finance is 10x lower.

[pakhitheboss]

This is one crazy comparison that I have read in my time active in the forum. While the forum members and small traders are getting frustrated with the amount of fees that are showing up on mempool. Our OP comes up with an amazing theory! He might have forgotten that just holding Bitcoin does not mean the price of it will go up. Without trading Bitcoin's price will remain constant and would never hit ATH'S.

Bitcoin was created to help people gain financial freedom not at the cost of high transaction fees. At the moment only whales and those crazy ODRI holders have made it impossible to make any kind of transaction on the Bitcoin network. This is a deliberate attack as per my understanding and something needs to be done otherwise they would continue to manipulate the network.

[hugeblack]

Increasing transaction fees may negatively affect the price of Bitcoin. Let us say, for example, that the last block mined was 817783 and the cost of the fees was 1.178 BTC. If these fees increase to 3.25, then literally, the return from the block + transaction fees will equal 6.25, which is the same Bitcoin that is being mined at the present time as It does not greatly affect demand, especially for services that have to pay fees, no matter how high they are. Therefore, increasing fees may not be a positive indicator for those who view Bitcoin as an investment or a tool for cheap money transfers.

[EarnOnVictor]

Bitcoin network fees are still high. It wouldn't be bad if this situation continued until the end of the year because it could lead to an increase in holders.
People will consider several times the desire to send when transaction costs are expensive unless it is for reasons of urgent need.

This is simply a very bad remark from you, Bitcoin is neutral of this itself and wouldn't want to be a party to spamming and unbearable high transaction fees and its causes. What's happening now is better solved than appraised. Fees or no fees, Bitcoin will always be appreciated and transactions will continue to go on. About the high fee dissuading people from making transactions, I say that is a lie, if the money is for an urgent need, the transfer would be made. Mind you, those who have a sizeable amount of BTC in their wallets don't care about the transaction fee. Are you not watching the Meepool at times to see how people pay more in multiples even when the transaction fees are low?

This is not just a valid point for anyone not to spend their coin unless the coin is so little and below $10 which would also be wickedness to be happy that people can't spend their money. I believe this Mempool congestion issue is a problem indeed, an issue that most Bitcoin enthusiasts are even complaining about, it's better that a road is easily accessible rather than congested, what's the point if it's not easily accessible?

Contrary to your view, have you also thought about many people that was supposed to use Bitcoin for transaction but changed their minds to use altcoins due to this high fee issue? I don't see how this is a win for Bitcoin, maybe the increase in the market capitalization is what deceives you, it is for a pure investmenet reason, not forcibly.