Bitcoin dropping after BTC China said it is closing

Post by olala69 » Fri, Sep 15, 2017, 10:05 PM UTC

nosuchthing wrote: post #166

rothbardrand wrote: post #142

Earlier quoted context omitted.

You can send several million dollars in under a day for about $0.50 right now. IS that "high fees"? Hell if you do it right you can do it in under an hour for under a dollar. Any talk about it being a replacement for fiat money is evading my point. I made the point that it was a plausible good store of value, not currency. Oh, and by the way, there's nothing wrong with using bitcoin to pay for drugs, and this argumen…

If someone actually paid that small of a fee in BTC for several million USD, they would risk far more of their transaction being lost due to volatility during the multi-hour long transaction. Anyone holding that much BTC, and facilitating that type of transaction will likely be subject to some form of regulatory scrutiny, sooner or later.

The size of the transaction grants it higher priority.

Post by rargulati » Sat, Sep 16, 2017, 8:15 AM UTC

synicalx wrote: post #178

rothbardrand wrote: post #126

Every time bitcoin slips a little, the anti-bitcoin crowd claims victory and it's kinda hilarious. The summer of 2015 BTC was around $200, it's now over $3,000- so up 15X in a bit over 2 years. This is failure? Why is down $500 failure but up 15X in less than 30 months not success? There are about 11 million millionaires in America. There are only ever going to be 21 million bitcoins total. That means, even just amon…

>> - Its terminal supply is absolutely fixed, unlike gold, and its rate of inflation is rapidly decreasing to below golds. This only applies to Bitcoin, and as anyone can see even big operations like Coinbase trade in at least three difference crypto currencies. >> - It's easy to store wealth in without being obvious to others. Can you elaborate on exactly what benefits you propose this offers? And don't say tax evas…

> We've been able to send money all over the world for decades now, I can literally send my friend in New Zealand $50 using an app on my phone. Not sure how Bitcoin makes this any easier. Maybe it makes it a bit cheaper, assuming it's value doesn't plummet while your transfer is going through?

It's not about sending $50, it's about sending $5,000,000.00. Which is an entirely different class of problem (paperwork, fees, process). Making that cheaper, faster, easier.

Re: Bitcoin dropping after BTC China said it is closing

Re: Bitcoin dropping after BTC China said it is closing