Post
Topic
Board Bitcoin Discussion
Re: Damn fees!
by
Hell-raiser
on 15/01/2018, 20:37:16 UTC
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??

Is this really what bitcoin become? Currency used for miners so they can earn more money?

This is the thing with Bitcoin nowadays, mate.

I don't think you have to explain to them anything. Trying to explain would likely turn them away from crypto altogether. Nevertheless, if they are hell-bent on buying Bitcoin, better tell them to wait a liitle. In the best case scenario, the fees should go down dramatically when Lightning Network is activated in a few months. If it doesn't, well, that will be the worst case scenario, then tell them to buy a handful of major altcoins like Ethereum or Litecoin. $100 is not a big deal anyway, so they won't lose much if Bitcoin tanks and drags down other coins with it.