Quote from: nutildah on March 24, 2018, 07:07:22 AM

Quote from: exstasie on March 24, 2018, 01:06:22 AM

You argued that fees had a negative correlation to price. Any data to support that? Because you're ignoring an obvious and established correlation which suggests the opposite.

No, I didn't. We're actually in agreement on this. Its just that you said price follows fee and I'm saying its the other way around.

You're now just arguing with me for argument's sake.

Well now you're just confusing things. I didn't say price follows fees. That would imply causation. I merely said there was a correlation between BTC price and transaction fees that is at odds with your theory.

You actually went further than mere correlation. You argued they have a causal relationship (higher fees causes lower price):

Quote from: nutildah on March 23, 2018, 11:58:39 PM

BTC has a price ceiling which is determined by its average transaction fee. If the ave tx fee goes too high, BTC loses its intrinsic value as a currency and is no longer competitive.

Quote from: nutildah on March 24, 2018, 12:39:28 AM

I believe bitcoin's upward potential is limited by an increasing non-competitiveness in transaction fees

I don't believe BTC price and transaction fees have a causal relationship. I believe the correlation exists because higher demand = higher price, and higher demand = higher network activity. So price and average fees rise together, but one doesn't cause the other. They are both caused by spikes in demand to own/use BTC.