Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
yeah we could but realistically using btc as cash is not practical.
If the transaction is under 100 dollars and fees are high it simply does not work.
If btc does go to 200k which is possible the smallest on chain fee is maybe 440 sats or 1 dollar
so at a 200k price and 4 sats a byte fee we would be one dollar cost.
I can see this as being always true 1 dollar and up per send seems to be certain.
while doge is 10x the blocks and 1 doge per tx is only 11 cents even if it goes to a dollar a coin.
so for small 100 dollar sends doge is clearly better.
btc is not a p2p payment system anymore.
If the transaction is under 100 dollars and fees are high it simply does not work.
If btc does go to 200k which is possible the smallest on chain fee is maybe 440 sats or 1 dollar
so at a 200k price and 4 sats a byte fee we would be one dollar cost.
I can see this as being always true 1 dollar and up per send seems to be certain.
while doge is 10x the blocks and 1 doge per tx is only 11 cents even if it goes to a dollar a coin.
so for small 100 dollar sends doge is clearly better.
btc is not a p2p payment system anymore.
it is, still, just not for coffee size payments at the moment.
Lightning seems to stall a bit.
The main 'problem" is that people don't care to pay with an appreciating "currency'. They would rather pay with a depreciating one.
In that sense, doge is purrfect
Philipma1957 is a shitcoiner with heavy Doge bag trying to protect his shitcoin bag with utterly nonsence as ''Bitcoin is not a p2p paymenst system anymore''.
I thought i've seen it all over the year still these shitcoiners making new lows all the time.
a free market capitalist system,
In a free market capitalist system, high prices mean efforts are made to meet the demand. What we have is centrally controlled artificial scarcity.
If you refer to the 21 million BTC cap, it's decentralized scarcity based on proof-of-work (PoW) in a consensus system.
Any change to the 21 million cap in the source code would require a Bitcoin Improvement Proposal (BIP) which must be approved by at least 90% of the miners and the final most important decision comes from the Bitcoin community who have to upgrade to the new software version (which we most likely would refuse in this case).
EDIT:
Never mind, this was about fees, but still doesn't make sense.
Richy_T is a bigblocker who still believes Bitcoin is under centralised control by Blockstream.
Better ignore these parasites.