Bitcoin Fees

Just a random few thoughts in this post.

BTC Fees

The fees for moving BTC (Bitcoin) around are now higher than a majority of wallet balances.

Think about that: a MAJORITY of BTC users can’t move their money without being negative on the fees.

Nope

I saw this coming awhile back and I liquidated my holdings just before the tipping point when it comes to fees preventing moving BTC around.

That alone is a giant pile of NOPE in my opinion.

Liquidity

How do you maintain any kind of liquidty in a market where the fee’s are preventative for anyone that doesn’t hold large amounts of value?

Do you care?

Gold Standard

This is the point where BTC is OFFICIALLY a GOLD STANDARD and NOT a CURRENCY. You can’t make the argument it’s a currency anymore.

Currency

Currencies allow people to move value freely. BTC does NOT.

It’s not a currency, its a value storage (ie. [e]Gold Standard).

Going Forward

Given the current market, what are you going to do going forward?

I cashed out to the alts. I also ensured my current token holdings are outside of exchanges (greater liquidity).

No Interest

I have no interest in paying more in fees than the value I hold.

I have no interest in a crappy community.

Interest

I DO have interest in currencies

I DO have interest in practical applications of the blockchain concept

I DO have interest in good communities

End Rant

This was clearly an opinion piece. Do what you feel appropriate.


(function(f, a, t, h, o, m){ a[h]=a[h]||function(){ (a[h].q=a[h].q||[]).push(arguments) }; o=f.createElement('script'), m=f.getElementsByTagName('script')[0]; o.async=1; o.src=t; o.id='fathom-script'; m.parentNode.insertBefore(o,m) })(document, window, '//fathom.kemonine.info/tracker.js', 'fathom'); fathom('set', 'siteId', 'PUEYX'); fathom('trackPageview');