Quote from: cjmoles on February 24, 2017, 12:11:01 AM

Quote from: notme on February 23, 2017, 11:42:51 PM

Quote from: cjmoles on February 23, 2017, 07:41:42 PM

This isn't making a whole lot of sense because we're hitting all time highs at the same time that fees are climbing and transaction times are increasing. It seem like it would be the other way around for some reason. Can somebody explain?

You're thinking about it backwards. Price rise causes the increase in transactions. Some people move their BTC to sell, some people take advantage of the opportunity to buy things and pay with BTC.

I guess that's one way of looking at it. But, it seems like if people we're selling off, it would drive the price down, and it seems like increased fees would reduce the frequency of smaller transactions which would then increase transaction speeds by reducing the stress on the mempool. Maybe I'm going to have to think about it a little more.

Maybe it is different this time with the transaction limit pressure, but in previous rallies payment processors like bitpay have reported huge jumps in bitcoin transactions. We'll have to wait and see how this plays out.