BITCOIN Discussion..........

[raiders72001]

No, I mean why do you think that's bad?
Fees are often high when money is flooding into BTC. Money flooding into BTC = higher demand = higher BTC price. That is, until more miners enter to take advantage of the high fees which brings it down to its usual level.
Basic economics

The network can't sustain it.

 

[raiders72001]

Risky but I bought some HXD.

 

[rolandcorts]

The network can't sustain it.

Of course it can, more miners will enter and compete the fees down. We all wish more people used BTC right? Well imagine if an additional 10% of the planet decided to start using it, what do you think would happen to fees? Would you regret this 10% increase because of higher fees? Would you say the network can't sustain it?

LTC has low fees but has actually depreciated YTD. So if you want to use a known shit coin to avoid high fees for book deposits, go ahead but as you're holding that coin it's likely to depreciate on you which is its own cost.

 

[Ace7550]

Litecoin has been around a long time. I've been using it to transact with sportsbooks and friends for years. I'd hardly call it a shitcoin.
If you wanna use it to deposit and withdraw at sportsbooks but don't want to be exposed to price fluctuations, just hold dollars on the exchange of your choice. Buy it when you need to send it and sell it when you receive it.

 

[rolandcorts]

Take any time period and BTC has appreciated way more than it (or depreciated less).
LTC up 100% last 5 years, BTC 1000$
LTC even YTD, BTC 150%

I can't see a world where LTC appreciates more than BTC going forward.

Holding $ on an exchange has its own risks too.

 

[Ace7550]

Take any time period and BTC has appreciated way more than it (or depreciated less).
LTC up 100% last 5 years, BTC 1000$
LTC even YTD, BTC 150%

I can't see a world where LTC appreciates more than BTC going forward.

Holding $ on an exchange has its own risks too.

100% agree if you are gonna hold something long term it would definitely be bitcoin over litecoin.
And I agree about holding dollars on an exchange. I try to limit it. There's no perfect way.

 

[raiders72001]

Of course it can, more miners will enter and compete the fees down. We all wish more people used BTC right? Well imagine if an additional 10% of the planet decided to start using it, what do you think would happen to fees? Would you regret this 10% increase because of higher fees? Would you say the network can't sustain it?

LTC has low fees but has actually depreciated YTD. So if you want to use a known shit coin to avoid high fees for book deposits, go ahead but as you're holding that coin it's likely to depreciate on you which is its own cost.

A couple of things. First the block size is 4 MB. The difficulty of solving the equation changes so that each block is created approximately every 10 minutes. If you add miners, then the fee has to increase to make mining profitable.

Think of it this way, if there are a total of 10 miners and the reward is $100. 1 out of 10 times a miner will get $100. If 10 miners are added, now there are 20 miners. 1 out of every 20 times a miner gets $100.

 

[raiders72001]

Litecoin has been around a long time. I've been using it to transact with sportsbooks and friends for years. I'd hardly call it a shitcoin.
If you wanna use it to deposit and withdraw at sportsbooks but don't want to be exposed to price fluctuations, just hold dollars on the exchange of your choice. Buy it when you need to send it and sell it when you receive it.

LTC is definitely not a shitcoin. I wish that all books accepted SOL. Fast and cheap. Right now I like to play at books that keep balances in BTC or alts. You make money while your money is at a book.

 

[rolandcorts]

A couple of things. First the block size is 4 MB. The difficulty of solving the equation changes so that each block is created approximately every 10 minutes. If you add miners, then the fee has to increase to make mining profitable.

Think of it this way, if there are a total of 10 miners and the reward is $100. 1 out of 10 times a miner will get $100. If 10 miners are added, now there are 20 miners. 1 out of every 20 times a miner gets $100.

You have it backwards.

# of transactions increases ---> in the short run # of miners is fixed ---> fees rise
In your example that's like there being 10 miners and the reward just went from 100 to 200.

Now
# of miners rise because reward is higher ---> fees fall to normal
In your example that's like there being 20 miners and the reward returns to 100.

 

[raiders72001]

You have it backwards.

# of transactions increases ---> in the short run # of miners is fixed ---> fees rise
In your example that's like there being 10 miners and the reward just went from 100 to 200.

Now
# of miners rise because reward is higher ---> fees fall to normal
In your example that's like there being 20 miners and the reward returns to 100.

The reward is a constant every 10 minutes 6.25 BTC. It cost a lot of money to mine because of the rigs and electricity. It's easier for me to link to people that explain it better than I can arguing both sides. Personally I want cheap fees.

Ordinals are driving up Bitcoin fees — but that may be good for the network​

Ordinals are driving up block congestion with arbitrary data. It’s not Bitcoin’s first rodeo with network congestion

Ordinals are driving up Bitcoin fees — but that may be good for the network

Ordinals are driving up block congestion with arbitrary data, but it’s not Bitcoin’s first rodeo with network congestion.

blockworks.co

 

[raiders72001]

MEME coin season right now. Degen coins but they can pay jackpots.

 

[jjgold]

Everybody’s gonna be rich in this thread

 

[fishhead]

Everybody’s gonna be rich in this thread

GL GOLD

 

[raiders72001]

ANALOS . biggie across the street found it first.

 

[raiders72001]

SOL could flip ETH some day. Transactions almost immediate for less than a penny. Everything in the SOL ecosystem will be big including NFTs and MEMEs. Some are already 100x in 24 hours.

 

[raiders72001]

This one not SOL MEME but crazy things happening.

 

[rolandcorts]

NFTs lol
The biggest joke in the crypto space.
Most crypto people are delusional

 

[danielesp]

SOL could flip ETH some day. Transactions almost immediate for less than a penny. Everything in the SOL ecosystem will be big including NFTs and MEMEs. Some are already 100x in 24 hours.

Solana keeps making new highs wtf. I expected SOL to be dead after FTX fiasco.

All that money was supposed to enter into ETH

 

[raiders72001]

Solana keeps making new highs wtf. I expected SOL to be dead after FTX fiasco.

All that money was supposed to enter into ETH

A ways back I thought that ETH would be the biggest gainer of the top coins. Then I switched to SOL along with RAY and 8 others in the ecosystem. Still have ETH and BTC. SOL is the most centralized and they run like a business. The other top ones try to get better but profit isn't the motive. These MEME coins make absolutely no sense but I've been buying those too. ANALOS is the latest.

 

[raiders72001]

NFTs lol
The biggest joke in the crypto space.
Most crypto people are delusional

May be some truth to that. The prices of things such Bored Yacht Ape Club and others are insane. But many NFT's have utility and are being used in metaverses. I flipped from AI being the biggest sector to Gaming. People, especially kids, will be bringing NFTs into metaverses giving both the tokens, land and NFT's value. AI should hit too.