Today I sent a BTC transaction from the Blockchain.info wallet. The default tx fee given by the wallet and was 722 sats/b (actually charged 750 sats/b) which put me at almost the very top and I was included in the next block and it was fast, but damn expensive.
I'm not trying to spread FUD, just spreading information and objective facts, all provable on the blockchain.
Tx: https://blockchain.info/tx/4a4497a5b56db63e72027e5e4c3cfe9d662e6e644c3e86fccae0cea696e1cb39
For completeness, here's a link to show where you "stack up" with your sat/b tx ratio : https://jochen-hoenicke.de/queue/#24h
This is why I love Steem! Nearly instant transactions and never a fee. It's only a matter of time, Steemians....
Eventually, the Market will recognize where the real value and utility is...and fast/cheap blockchains like Steem, Bitshares and EOS will prove the best.
UPDATE: For the record, I now own 0 BTC and 0 BCH. Ok, that said, I just found this rly funny page which compares the speeds of Bitcoin vs Bitcoin Cash.
-Ashe
I hope people can get out of the Bitcoin worship and recognize the far superior assets that provide the best utility, as you say.
Here's to a robust future w/Dash, EOS, Steem..!
They're blinded by bitcoin's bling. I've written many times about bitcoin's rising fees. Maybe when the fee reaches $1000 people will wake up and dump that crap.
Nah! Fanatics never really learn. They just want the semi-centralized LN. What a joke when DPoS and InstandSend exist on-chain.
Wow! another Dash and EOS fan. There are lots of EOS fans on steemit. But not so many Dash lovers. I've been posting and recommending Dash all the the way since it was around $300. The baby has grown so much and so is the self-funded treasury.
Happy to see another fan :-)
I was lucky enough to be turned on to Dash by a very smart (and now very wealthy) friend of mine back when it was $45 - ish.
If only I had been smart enought to buy more and HODL!!!
Damn. I wasn't even in the market at the time. I got me and a friend of mine into Dash around $300. He HODLed. I traded. I'm trying to see if I can make enough profits to get a PIVX masternode (as I believe it has more percentage gains). Let's see how things turn out.
What really gets in my nerves is not having any cash left when these major dips happen because I've already put 100% (okay 99.9% there are some scraps left) into cryptos.
I feel ya. I'm paycheck to paycheck at the moment with anything left already in crypto. So I often miss these discount buy options.
Only thing I guess there is to do is keep learning, keep up to date, and keep putting in whatever we can as soon as we can!
Exactly what I'm doing at the moment.
OMG whatttttt $120 worst :(
@ashe-oro Thank You for showing this to us. This is Why all my New Purchases are in Alt Coins instead of anymore Bitcoin.................
that is insane
Gahh!! I have 3 transactions waiting for confirmations, one is over 3 days old. Are they stuck forever do you think?
Not stuck forever, but it can take a while. If it takes too long the mempool will drop the transaction and you should get your coins back.
Thanks!:)
Woah! Holy Moly $120 for nothing?!
Not the future of cryptocurrency! na na!
It's the crutch of bitcoin. IMO Bitcoin will be the gold of the digital currency. Altcoins will be what we use day to day. These fees are instane!
YIKES!! They can't get the Lightning Network going soon enough. There's a couple of other things in the works also. Bitcoin is gonna be just fine, and that couldn't happen if the insane fees, and ridiculous confirmation times persisted. They won't.
Wow that is some impressive reasoning brother.
Fees are so rough these days. I have been putting them off. You don't need to be THAT fast, lol. Half of that would get you through in a few blocks. I think the infinity zone is under 150.
Suppose you have so much money that Bitcoin transaction fees are relatively small. Don't you still have to transact a number of times proportional to the amount of money you're processing? I mean, you wouldn't buy $10million worth of BTC in one transaction unless someone were selling that much. Do the exchanges minimize the number of transactions because they process them off the books (off the blockchain) first? Anyways, it seems like these high transaction costs are a problem for everyone.
Ouch. Just ouch.
In early November I sent 0.00923271 BTC to empty an old wallet and claim my BCH. Not only did I pay $16.37 in transaction fees, but I also waited at least a week for the transaction to confirm because it was still telling me that my fee was too low. I didn't receive what was left of my BTC til november 15th.
I also remember seeing that I could "speed up the transaction" for $500
I call it Bitcorn b/c it's no longer a currency and is now a commodity.
Bitcorn made me LOL for real.