Post
Topic
Board Economics
Re: Why do you want high price of bitcoin after all?
by
Apex Investments
on 12/04/2018, 02:01:32 UTC
High prices are good in that they generate more excitement for BTC.  Your point about the mining fees increases is a feature rather than a bug in the system.  If more people are using BTC then the network gets clogged and users need to pay more to have their transactions processed.

This is not a bad thing in that higher prices paid to the miners ensures transactions are processed promptly (relatively). 

This is similar to oil/gas prices when prices are higher the oil companies make more revenue and divert it to investments since investments make more sense due to the higher price.  This increased investment causes prices to fall due to the resulting increase in supply. 

Granted, oil/gas is a more mature market but the same economic process occurs in the crypto arena.  Personally, would prefer BTC to be $20k and pay higher fees than $7k and pay very little.