Most people own less than .01 BTC
The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Especially when the cost to send .01BTC cost more than .01BTC. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.
What do you think about bitcoin fees and the .01 theory?
The fees to sell or transfer this .01 BTC is getting absurdly expensive and will continue to rise. My theory is the fees will become so high that most people will just hold onto their BTC rather than sell. Especially when the cost to send .01BTC cost more than .01BTC. Eventually the addresses holding huge amounts of BTC will start to sell. It will clog the blockchain and fee prices will sky rocket even more. The transfers will take longer and longer to confirm and everything will get "stuck". I believe this will fuel more and more panic selling as everyone tries to cash out at the same time.
What do you think about bitcoin fees and the .01 theory?
I think the theory that most people earn less than .01 in BTC is probably right. Does it even matter in the real Bitcoin world? Is there enough attention given to it? I think it does not and it is also being set aside as an issue. But it should actually be given importance. Why? Because we want Bitcoin to become what it is supposed to become. However, I think we cannot easily get away from this situation because the price of Bitcoin will continue to rise and rise up to a point when Bitcoin will not be spent anymore. Or might be spent only on things that are so expensive such as a Lamborghini.