Quote from: Pecunia non olet on January 26, 2015, 04:11:31 PM

Be aware of downward pressure - every transaction costs now 8$ and that's a low

https://blockchain.info/de/charts/cost-per-transaction

https://bitcointalk.org/index.php?topic=918068.0

Multiply 3600 coins (generated in 24h) with marketprice and you get the daily costs of this nonsense. I think Bitcoin is pretty much a fail and will have make way for more efficient solutions. It's just burning money away for the investor and nothing else.

People don't like to hear it, i know.

At a price of 1000$ the network would burn 3.6 Million USD every day just for mining, that's 1.314 BILLION in a year - so think again. The answer is: in case it reaches 1000$ that will only be for minutes or hours but i doubt we will see even 400$ anytime soon.

The transaction cost doesn't matter. You are just trying to suggest a reason why bitcoin could fail. So what if transaction cost is 8$ ? it doesn't even matter, as long as network is mined, the bitcoin network remains functioning, it simply works and that's it. And profits don't matter. If you are looking to make some quick money off bitcoin, you are 5 years late. Bitcoin is a payment processor, and that's why it will succeed, not because you personally can't milk 300% ROI out of it.

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