Another Increase in Bitcoin Withdrawal Fees by drakos

bitcoin · @drakos · Mar 23 '20 (edited)

$4.93

Another Increase in Bitcoin Withdrawal Fees

View this post on Hive: [Another Increase in Bitcoin Withdrawal Fees](https://hive.blog/@drakos/another-increase-in-bitcoin-withdrawal-fees)

👍 surpassinggoogle, msp-mods, ausbitbank, drakos, msp-creativebot, lexiconical, foxkoit, livingfree, uwelang, msp-lovebot, precise, overkillcoin, clayboyn, preparedwombat, bluemist, irreverent-dan, saywha, steemreports, scorer, arcange, followbtcnews, baki87, isaria, techwizardry, mcfarhat, msp-canada, fr3eze, atopy, crimsonclad, suprepachyderm, discordiant, steemcenterwiki, montedeilumi, joshtristram, raphaelle, amvanaken, steemgigs, troyr, mstaader, cifer44, thinknzombie, sandrina.life, simonpeter35, cryptonik, gempluz, sameer777, ar4ikk, sbrys, steem-untalented, creativesoul, matstaader, the-bishop-ufc, princessdanger, morozova, amec, shadowspub, buckydurddle, evie5el, epicure, geetasnani, natra, cardinalkennedy, awesomianist, cinder420, and 22 others

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@smaeunabs · Nov 18 '17

Increase of bitcoin's price also results to increased transaction fees.

properties (22)

@drakos · Nov 18 '17 (edited)

Let's say you're a small merchant and you made $1000 in profits. This means you'd have to pay 11.4% to withdraw your funds. Bitcoin has become very unpractical for merchants and consumers.

properties (22)

@smaeunabs · Nov 18 '17

That's pretty big.

properties (22)

2 replies

@clayboyn · Nov 18 '17

It's a shame there isn't some ridiculously quicker currency with zero fees that could be used instead... hmmmmmm... maybe we should all find one and start promoting it.

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@drakos · Nov 18 '17

$0.05

There is one. It starts with *S* and ends with *TEEM* 🤑

👍 overkillcoin, irreverent-dan, clayboyn

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@overkillcoin · Nov 18 '17

exactly!

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@precise · Nov 18 '17

say goodbye to micro payments :(

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@bobinson · Nov 18 '17

> This makes JP Morgan look like an angel!

not sure whether we should be crying or laughing!

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@drakos · Nov 18 '17

Maybe a bit of both.

👍 bobinson

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@steemreports · Nov 18 '17 (edited)

$0.12

I think Bitcoin is more like gold than cash, so yes I agree it's currently impractical to use for many everyday transactions. I wonder if a lot of this is because of its futures listing on the CME? It's going to be very interesting to see the effect of that when it starts!

👍 drakos, preparedwombat

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@sandrina.life · Nov 18 '17

Giggling auhauahuahauh

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@fr3eze · Nov 18 '17

Havent move bitcoin for a long while, seems like not worth the fee at all doing so

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@mcfarhat · Nov 18 '17

That is just crazy !
A transaction might soon cost more than its own value, if not already lol

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@preparedwombat · Nov 18 '17

$0.15

Bitcoin for store of value, Litecoin for transactions, Steem FTW. 😎

👍 preparedwombat

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@overkillcoin · Nov 18 '17

FFFFFFFFFFFF... that's insanely high! :O 

Totally impractical bro, I knew it was bad, but this really breaks it down.

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@foxkoit · Nov 20 '17

Why it go so up... I not see reason why they must do this..?? it destroys any interest in exchanging it there over time. This what I see.

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@moorkedi · Nov 22 '17

heyy @drakos :D what about now this price " By the way, 0.015 BTC x $7600/BTC = $114 !!! "  :)  8250 $ :) btc now on preev

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