50k is exciting

[promise444c5]

 It's  so nice and exciting having BTC breaking a $50k point
Yeah so exciting 
BUT
It isn't as  exciting as not having a Fundamental and standalone right to accessing your wallet without  any interference  from a third party.
Wait a minute you! Yes you!! Why are you still using that Exchange wallet for Holding  your coin 

Get a privacy wallet, a non constodial one to be precise and save yourself  from any form of future drama, store your wallet related datas in a cold storage form
Ingeneral Learn more about your wallet privacy, using a more secure wallet doesn't  guarantee a 99.99% security and threat  free.
Remember you are the number 1 security bridge  to your wallet

[Mia Chloe]

Yeah it definitely is exciting but this over excitement of holders not patient enough is what has caused drastical increase in fees. Take a look;

FROM

     

• fastestFee: 11 sat/vB
• halfHourFee: 11 sat/vB
• hourFee: 11 sat/vB
• economyFee: 8 sat/vB
• minimumFee: 4 sat/vB

TO

     

• fastestFee: 53 sat/vB
• halfHourFee: 48 sat/vB
• hourFee: 42 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

In just a space of about 6 hours just because people are rushing to move their Bitcoins to exchanges and quickly make profit off it. However the fees will go back to normal though once the rush has subsided.

[sunsilk]

Sadly, there are still people that keeping their funds on exchanges so that they're ready to sell them asap. But most of them are just keeping it there for storage purposes and they can't determine whether they'll sell or not when the bull arrives.

While some may think that they're wise enough to keep it there because of the current high fees again, it doesn't makes sense if you have no intention of selling.

Yeah it definitely is exciting but this over excitement of holders not patient enough is what has caused drastical increase in fees. Take a look;

I've checked the fees as soon as I've seen the price increase and again, it's high. 

[bitmover]

Yeah it definitely is exciting but this over excitement of holders not patient enough is what has caused drastical increase in fees. Take a look;

FROM

     

• fastestFee: 11 sat/vB
• halfHourFee: 11 sat/vB
• hourFee: 11 sat/vB
• economyFee: 8 sat/vB
• minimumFee: 4 sat/vB

TO

     

• fastestFee: 53 sat/vB
• halfHourFee: 48 sat/vB
• hourFee: 42 sat/vB
• economyFee: 10 sat/vB
• minimumFee: 5 sat/vB

In just a space of about 6 hours just because people are rushing to move their Bitcoins to exchanges and quickly make profit off it. However the fees will go back to normal though once the rush has subsided.

This is a spike which affected just a few blocks. Didn't change overall fees for the day.
You can still use less than 30 sat vB fees

[Bitcoin_Arena]

In just a space of about 6 hours just because people are rushing to move their Bitcoins to exchanges and quickly make profit off it. However, the fees will go back to normal though once the rush has subsided.

Even 12 sat/byte transactions are getting confirmed right now, and then the size of unconfirmed transactions in the mempool has dropped. I would's say that's bad. A few weeks back, this was just a dream.

Of course, the upcoming difficulty adjustment with 48 hours from now could slightly change things. Blocks have been getting confirmed much quicker on average.

[sheenshane]

Yeah it definitely is exciting but this over excitement of holders not patient enough is what has caused drastical increase in fees.

The reason why we always see immediate correction when the price goes up is because of these people who can't patiently wait.
We can't blame them and it might they're a short time holder, but the problem is after selling their Bitcoin they need to wait another month before making another entry point on Bitcoin investment.  Let them realize that repentance always comes at last.

Just keep holding on even though it reached $50k.
ATH isn't yet come.

[Yamane_Keto]

In just a space of about 6 hours just because people are rushing to move their Bitcoins to exchanges and quickly make profit off it. However the fees will go back to normal though once the rush has subsided.

The fees spike is understandable due to the decentralized nature of Bitcoin and will occur with every change in the price, but such a spike will not affect the fees in the long term because it will be in less than 60 blocks and the fees will return to normal after several hours. The continuity of the spike will be due to things like injections, which we seem to be responsible for causing high fees so far.

In your estimation of the appropriate fees, although the recommendations on mempool.space are useful, but if you take a deeper look at mempool, it will save you more fees.

[Luzin]

The fees spike is understandable due to the decentralized nature of Bitcoin and will occur with every change in the price, but such a spike will not affect the fees in the long term because it will be in less than 60 blocks and the fees will return to normal after several hours. The continuity of the spike will be due to things like injections, which we seem to be responsible for causing high fees so far.

In your estimation of the appropriate fees, although the recommendations on mempool.space are useful, but if you take a deeper look at mempool, it will save you more fees.

Of course, I always use the mempool to transact. Mempool is quite helpful. But there is something I am worried about, when the price reaches the new ATH later. There are concerns that transaction fees will cost me. The problem that the Ordinal network has entered a saturation period has made transactions return to normal. I feel happy with this condition even nowadays 12sat/VB is quite cheap price. If later Ordinal is crowded again and ATH comes, I don't expect transaction fees will not reach the new ATH. Although actually these miners can also deliberately strengthen the network to increase fees so that they get a lot of benefits.

[Litzki1990]

I was watching the market live when bitcoin price touched $50K and touching $50K was a really happy moment for me. After almost two long years the Bitcoin market has reached $50K again I think it could not be more happy news for investors. We did not think in 2023 that we will see so much positive movement in early 2024. Yes I thought that the market might start well in 2024 but it was not expected to start so positive. The market touching the $50K milestone early in 2024 is definitely a positive sign and we can expect Bitcoin to surpass its all-time high in this year itself. And we look forward to that time.

[mk4]

Getting back to $50,000 is GREAT don't get me wrong, but it's funny how the euphoria I'm feeling right now is only like 5% of what I've felt the last time we went up to these levels. The last time I got up from my chair and started jumping with joy but right now I had a small smirk lmao.

[pooya87]

Yeah it definitely is exciting but this over excitement of holders not patient enough is what has caused drastical increase in fees. Take a look;
~
In just a space of about 6 hours just because people are rushing to move their Bitcoins to exchanges and quickly make profit off it. However the fees will go back to normal though once the rush has subsided.

This is not all about "lack of patience" or wanting to "dump" because price went up. A lot of these transactions are from day traders wanting to increase their bitcoin wealth during a more volatile period. They are not selling, they are trading. Which means they are not holders, they are traders. And the increased traffic comes down when the market calms down.

For example you move your trade funds to the exchange and sell when price reaches the short term peak like at $50385 and then place your buy orders at lower prices to buy more when it dips like after going back to $49760 (the dip after) that way you make about 1% profit.

If these ups and downs are bigger, you make more profit. It is a risky trading strategy but something that is used. After all price doesn't go up in a straight line, it goes up like this:

[Porfirii]

First of all, it is exciting indeed to re-test the 50k resistance. Sooner rather than later, we'll break it again, and hopefully that will be the signal for the next bull run (I'm aware that we already broke it several times, I mean turning it from resistance into support).

Secondly, we tend to demonize exchanges (me the first), but as per fees, I strongly believe that if you have a part of your holding you don't hodl and want to liquidate it as soon as the price hits your goal, it may be better to keep that part in the exchange to avoid what Mia Chloe said: you'll save in fees and help others save too.

[Z390]

Sadly, there are still people that keeping their funds on exchanges so that they're ready to sell them asap. But most of them are just keeping it there for storage purposes and they can't determine whether they'll sell or not when the bull arrives.

While some may think that they're wise enough to keep it there because of the current high fees again, it doesn't makes sense if you have no intention of selling.

Yeah it definitely is exciting but this over excitement of holders not patient enough is what has caused drastical increase in fees. Take a look;

I've checked the fees as soon as I've seen the price increase and again, it's high. 

That's a stupid excuse for anything that are keeping their Bitcoin on exchanges, it takes only few minutes to send your Bitcoin from a hardware wallet to a exchange, it's not a demanding work at all, I believe the reason why some do this nonsense is because they trust the exchange more, if something goes wrong they can blame the exchange.

It's just the way we all get used to banking system, we give our money to them for safe keeping and if something goes wrong we blame it on the bank, many people would rather blame something else than blaming themselves, that's why many people don't accept mistakes as their own.

Sadly many people are still like this today, claiming ownership themselves is not in their blood, non-custodial sounds scary to them, they will rather leave the assets in the hands of centralized exchanges, mind you, not all of them, some left those funds on exchanges for trading, it's not all they have, it's just the amount they can afford to risk in the hands of CEX.

[Humblevirus]

Sadly, there are still people that keeping their funds on exchanges so that they're ready to sell them asap. But most of them are just keeping it there for storage purposes and they can't determine whether they'll sell or not when the bull arrives.

While some may think that they're wise enough to keep it there because of the current high fees again, it doesn't makes sense if you have no intention of selling.

Many individuals who store their funds on cryptocurrency exchanges without any immediate plans to use them are often newbies to the industry who haven't grasped the essential concepts before diving into Bitcoin investment. Among these crucial concepts, privacy stands out as a fundamental principle to understand prior to investing in Bitcoin. Without a solid understanding of privacy measures, it's difficult to ensure the security of one's funds.

Moreover, keeping funds into an exchange resembles a gamble with one's funds. Entrusting your funds to a palace where not only you have access means your funds aren't entirely secure. The accessibility of your funds to others opens the possibility of unauthorized use or even loss. Thus, relying on exchanges as a storage solution isn't advisable due to the inherent risks involved. There's always the looming threat that the exchange may abscond with your funds or encounter unforeseen issues, leaving users in a precarious position.

To mitigate these potential risks and avoid potential future complications, it's prudent to acquire a personal wallet like hardware wallets where you have complete control over your funds. By having sole access to your wallet, you significantly reduce the likelihood of unauthorized access or misuse of your funds, providing greater peace of mind and security for your cryptocurrency holdings.

[ArikeTobi]

Many individuals who store their funds on cryptocurrency exchanges without any immediate plans to use them are often newbies to the industry who haven't grasped the essential concepts before diving into Bitcoin investment. Among these crucial concepts, privacy stands out as a fundamental principle to understand prior to investing in Bitcoin. Without a solid understanding of privacy measures, it's difficult to ensure the security of one's funds.

Any bitcoiner who is inexperience in any related field with the use of bitcoin could fall a victim, we just have the higher rate on this with the newbies, other members that are not been careful can be a victim of anything they lest expected to come after them in this crypto world, therefore, there's need for us to always stayed informed and never get relented of every efforts of being updated on the current scam techniques and hacks, we are the first custodial to our assets.

[KingsDen]

 It's  so nice and exciting having BTC breaking a $50k point
Yeah so exciting 
BUT
It isn't as  exciting as not having a Fundamental and standalone right to accessing your wallet without  any interference  from a third party.
Wait a minute you! Yes you!! Why are you still using that Exchange wallet for Holding  your coin 

It is exciting to see BTC at $50k but then this is the period many people will lose their hard earned bitcoin just because of some negligence or not securing their coins. Scammers troop in their numbers into the cryptocurrency industry. It will be save to have saved or DCAed from the bear period till now that you are supposed to take profits and you suddenly discover that you have been hacked or exchange has collapsed. But then, despite the abundant advice on the internet, people still fall victim of exchange dramas

First of all, it is exciting indeed to re-test the 50k resistance. Sooner rather than later, we'll break it again, and hopefully that will be the signal for the next bull run (I'm aware that we already broke it several times, I mean turning it from resistance into support).

That's my opinion but some people are seriously anticipating a big correction. It is difficult to know which opinion to follow even after doing your own research.

Secondly, we tend to demonize exchanges (me the first), but as per fees, I strongly believe that if you have a part of your holding you don't hodl and want to liquidate it as soon as the price hits your goal, it may be better to keep that part in the exchange to avoid what Mia Chloe said: you'll save in fees and help others save too.

I have always told people that exchanges are part of the cryptocurrency industry and it will remain here as long as the industry remains. I only advocate that people should use exchanges the right way they are supposed to be used and not as a wallet.
At the height of mempool congestion, it was exchanges that was helping people out easily. Thanks.

[ultrloa]

The fees spike is understandable due to the decentralized nature of Bitcoin and will occur with every change in the price, but such a spike will not affect the fees in the long term because it will be in less than 60 blocks and the fees will return to normal after several hours. The continuity of the spike will be due to things like injections, which we seem to be responsible for causing high fees so far.

In your estimation of the appropriate fees, although the recommendations on mempool.space are useful, but if you take a deeper look at mempool, it will save you more fees.

Of course, I always use the mempool to transact. Mempool is quite helpful. But there is something I am worried about, when the price reaches the new ATH later. There are concerns that transaction fees will cost me. The problem that the Ordinal network has entered a saturation period has made transactions return to normal. I feel happy with this condition even nowadays 12sat/VB is quite cheap price. If later Ordinal is crowded again and ATH comes, I don't expect transaction fees will not reach the new ATH.

Well expect that to happen since there are lots of people want to move their bitcoin due to different reasons and spiking up of fees is expected to happen. If we don't want to deal anything with high fees related transaction then much better not to follow the crowd and send while this scenario occurs. Still much better for the fee to subside so that we can get more better experience on upcoming new ATH which people awaits for long time. To many people are happy to see the transaction fee became more lower since at the moment even if bitcoin price reach at $50k they can still transact at anytime they want without worrying about those huge fees that need to spend.

[Coyster]

Secondly, we tend to demonize exchanges (me the first), but as per fees, I strongly believe that if you have a part of your holding you don't hodl and want to liquidate it as soon as the price hits your goal, it may be better to keep that part in the exchange to avoid what Mia Chloe said: you'll save in fees and help others save too.

The thing is, you do not know how long it would take to achieve the said goal, and you might end up hodling your funds in an exchange for too long, and who knows what can happen within that time. Moving your finds from your non-custodial wallet would cost you fees, but leaving your funds in an exchange for a long time, only because you want to save in fees is very risky and it might not be a wise choice. Imo, it is better for your funds to be safe in your custody and cost you tx fees for moving it to an exchange when you want to liquidate, rather than leaving it in an exchange and risk losing it.

[Mpamaegbu]

Getting back to $50,000 is GREAT don't get me wrong, but it's funny how the euphoria I'm feeling right now is only like 5% of what I've felt the last time we went up to these levels. The last time I got up from my chair and started jumping with joy but right now I had a small smirk lmao.

I guess the reason you weren't that much excited is because of your past experience with this type of thing. At every circle, Bitcoin had been known to replace its previous ATH. We know the present ATH is around $69k. If the current price is at $50k, we know it's still short of that mark. We still have more $20k to cover to get any veteran really excited. Those who bought at $69k level wouldn't be excited though they now know it's just a matter of weeks before their entry price is hit. This won't be same for those who bought around the $22k region. We know.

Nonetheless, people shouldn't FOMO. I think there's a retracement coming, as expected.

[Jating]

Lol, but yeah, I remember way back in 2017, wherein when we break $5k, everyone is very happy to see and jumping for joy. And here we are again, $50k a big accomplished already from the last lowest low of $15,500 in this bear market. But we shouldn't be just selling though just because we hit this numbers. We should all be looking at the bigger picture, we are not technically even in the bull so just hold your horses.

I know what it feels for newbies in seeing a price that we have been talking for months. But as I have said, the more that you can control your emotions here, the better. Just watch the price to hit 6 digits this year and that will be our goal as it will be the first time that we are going to see that magical numbers.