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by paintchipluvr
3121 days ago
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BTC fees are crazy high because the coins value is crazy high if I go back and look at some of my transactions when BTC was around $200. today, the low transactions fees of yesteryear are now $15-$20. I think that's the flaw in bitcoin, greed took over and it became something it shouldn't have. miners kept buying more expensive asics to edge out the next guy because of greed and it became an arms race. my asic mining career lasted a whole of several months before I stopped cause I saw the people making money at the time were hardware sellers, pool operators, etc. miners still made money but in small margins. that is until BTC exploded now the coins I mined are worth over $50,000 on an investment of $3,000 of miners ($30,000 of which is still retained). Now I undderstand that miners aren't the entire reason for BTC price increase but I believe they have their share in it. I think cryptocurrencies like IOTA (I do not currently own a position in IOTA but will be in the near future, hopefully.) have a place with no network fees and primarily no miners. but I still see the greed in messageboards "Buy more!, Eat away at sell walls" yada yada. very sad. I think it'd be cool if there was a coin that had a fixedish price like tether although I won't touch tether since I don't know a lot about it other than some kind of theft, and the fact that bitfinex doesn't accept U.S customers which doesn't really affect my purchasing of tether but all the same I'd rather distance myself from them. I have been looking at BNB since I do use binance exchange but it's a volatile currency as well from looks of it. and the fact they are destroying them each quarter from what I understand based on their profits or something will lead to shorter supply and more demand since it can be used to lessen exchange fees I forgot exactly where I was going with this whole thing so I'm just gonna go buy virtual kitties with ETH |
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