Mempool Observer - Discussion about Bitcoin Fees

[Yamane_Keto]

The basis for that is the market cap and volume and I agree that if it's. But if it's about the use case of it, I still enjoy it using for transactions. I guess that we'd get to see it drop some more of the ranks as it seems to be dropping and can't soar unlike the other cryptos. If it's about long term, I'd still pick this than any of the memes.

Circulating supply for many cryptocurrencies can be easily manipulated. As for Litecoin, the coin is still in good stead but its use cases are limited which make its value diminish. Low fees are the only advantage of LTC but even Bitcoin (in these days) you can broadcast a transaction for 15 sat/vByte and get confirmation in less than 20 min.

[Stompix]

Low fees are the only advantage of LTC but even Bitcoin (in these days) you can broadcast a transaction for 15 sat/vByte and get confirmation in less than 20 min.

But $1.5 plus $1.5 and multiplied by 50 weeks a year starts pending in anyone's wallet.
I'm saying twice 1.5$ because if you send some coins the guys receiving them has also to pay to use them as it's not a bank deposit, then if you have multiple outputs and so on, if your CEX is a shitty one that charges more for BTC than LTC or Doge (cough , Binance) you look back at a year of expenses and you realize even 2$ for a tx is too much for random weekly usage.

And I think daily or weekly usage is dead on Bitcoin, we have sky-high prices compared to 3 months ago, fees have flattened despite half of the block space being used by ordinals and consolidation, I think that most deals have shifted to stablecoins as not only fees but volatility has also become a pain in the ass

Anyhow, finally, the mempool is not during above 1.30sat/vb for the default 300MB settings, two more weekends and nothing out of the ordinary and we might see 1sat/vb not being rejected by default nodes.

[IvugeoEvolutionCoin]

The basis for that is the market cap and volume and I agree that if it's. But if it's about the use case of it, I still enjoy it using for transactions. I guess that we'd get to see it drop some more of the ranks as it seems to be dropping and can't soar unlike the other cryptos. If it's about long term, I'd still pick this than any of the memes.

Circulating supply for many cryptocurrencies can be easily manipulated. As for Litecoin, the coin is still in good stead but its use cases are limited which make its value diminish. Low fees are the only advantage of LTC but even Bitcoin (in these days) you can broadcast a transaction for 15 sat/vByte and get confirmation in less than 20 min.

LTC is currently one of the oldest cryptocurrency projects still alive, the project they have this year doesn't seem to be of much use to many people but still remains to this day is a very good value. Litecoin must continue to develop to keep increasing its use.

[Stompix]

Let's dump this a bit since we crossed 500sat per vbyte.
And I already see a few meltdowns on BT but here seems like everyone is either completely chill or hasn't heard the news or wasn't forced to use bitcoin today. Anyhow, it's the weekend and instead of seeing again fees of 1$ during the weekend, we're most likely have to wait this one out.

Dramaaaa! 

[examplens]

Let's dump this a bit since we crossed 500sat per vbyte.
And I already see a few meltdowns on BT but here seems like everyone is either completely chill or hasn't heard the news or wasn't forced to use bitcoin today. Anyhow, it's the weekend and instead of seeing again fees of 1$ during the weekend, we're most likely have to wait this one out.

Dramaaaa! 

Your drama queen ambitions did not go over well this time 

Honestly, I already bored myself with the drama about the high fee, so I accepted things and decided to reduce my nervousness about it.
I used Mastercard for some payments in those days, so my conclusion is that Bitcoin is good as long as you have a bank card as a backup means of payment. I guess that's how Bitcoin was conceived.

[dkbit98]

Meanwhile mempool fees on Liquid network for L-BTC and L-USDT are around ~0 sat/vB or $0.00 
https://liquid.network/

I think fees on main chain is acceptable again with around ~30 sat/vB, but I am expecting big changes in next few months.
We could see major crash in all markets including stocks and bitcoin, but this is going to be bigger crash than 2008.
That usually means chaos in mempool and possible bear market, so better prepare for this, but let's wait and see what happens.
Remember this when autumn comes and tell me if I was wrong or not.

[philipma1957]

Meanwhile mempool fees on Liquid network for L-BTC and L-USDT are around ~0 sat/vB or $0.00 
https://liquid.network/

I think fees on main chain is acceptable again with around ~30 sat/vB, but I am expecting big changes in next few months.
We could see major crash in all markets including stocks and bitcoin, but this is going to be bigger crash than 2008.
That usually means chaos in mempool and possible bear market, so better prepare for this, but let's wait and see what happens.
Remember this when autumn comes and tell me if I was wrong or not.

Do you really think we will,super crash?

I can tell you that the Fed's refusal to lower rates in 2008 push the crash back then.

Maybe the feds will drop rates this Wednesday June 12.  I feel that pushing the rate drop down the road out into the future time after time is a sign we will crash like we did in 2008.

[dkbit98]

Do you really think we will,super crash?

Not now, but probably in next few months, September and October are their favorite months for things like this.
I think they are preparing stage for big war and maybe new round of scary flu propaganda, as excuse for that huge crash in all countries.
If that happens than Bitcoin will also go down, but I hope that I am totally wrong about this.
Prepare your BTC accordingly in case this happens.

we will crash like we did in 2008.

This could be much much worse than 2008.

[bitmover]

we will crash like we did in 2008.

This could be much much worse than 2008.

When you look back, every crash looks small. Even covid crisis look small now when we look at charts.

But when we are living it,  and our money is at stake, those crashes are all terrible and make people afraid.

I see many people saying that a crisis is expected in usa. I hear that for a long time alread (like 10 years).. personally,  I hope it doesn't come, what we had is enough

[examplens]

When you look back, every crash looks small. Even covid crisis look small now when we look at charts.

Bitcoin proved to be quite resistant to the COVID crisis. On the day of the declaration of the pandemic, the value dropped to $5k, but recovery soon began and the value of Bitcoin grew constantly until the end of the year, I think it was around $30k.
At a time when everyone was working hard, due to the lockdown, the values ​​of digital goods like Bitcoin came to the fore.

[bitmover]

When you look back, every crash looks small. Even covid crisis look small now when we look at charts.

Bitcoin proved to be quite resistant to the COVID crisis. On the day of the declaration of the pandemic, the value dropped to $5k, but recovery soon began and the value of Bitcoin grew constantly until the end of the year, I think it was around $30k.
At a time when everyone was working hard, due to the lockdown, the values ​​of digital goods like Bitcoin came to the fore.

Although it recovered soon, I was quite scared because I was losing money everywhere...

I lost basically 30% of my overall portfolio (of all had) in the beginning of the pandemics.  I was much better later on  in the end of 2020... and amazingly better in 2021

[Stompix]

Bitcoin proved to be quite resistant to the COVID crisis. On the day of the declaration of the pandemic, the value dropped to $5k, but recovery soon began and the value of Bitcoin grew constantly until the end of the year, I think it was around $30k.
At a time when everyone was working hard, due to the lockdown, the values ​​of digital goods like Bitcoin came to the fore.

If you look strictly at the covid crisis almost everything recovered from that, Microsoft shares crashed from 170 to 130, by 2022 they were at 300 and now 400 (euros) and of course that's nothing compared to oil that went negative  The troubling thing is that high inflation didn't influence the price the way we wanted and expected, we all look to low inflation and fed cuts to boost prices when normally it should have been high inflation that would have driven it.

Although it recovered soon, I was quite scared because I was losing money everywhere...

A real crisis not just what happened there won't be good for anyone, you're not going to have unemployed, homeless, and bankrupt people invest money in crypto the way you do when there is economic growth and everyone has something to spare.

[NotATether]

Although it recovered soon, I was quite scared because I was losing money everywhere...

I lost basically 30% of my overall portfolio (of all had) in the beginning of the pandemics.  I was much better later on  in the end of 2020... and amazingly better in 2021

Was that only in Bitcoin or in other ventures as well?

Because most people who had YOLO'd into Bitcoin and went all in also lost about a third of their net worth by March 2020 at the height of the pandemic.

I suppose everyone who took advantage and bought the dip at that time period were really happy at their gains in the end.

[bitmover]

Although it recovered soon, I was quite scared because I was losing money everywhere...

I lost basically 30% of my overall portfolio (of all had) in the beginning of the pandemics.  I was much better later on  in the end of 2020... and amazingly better in 2021

Was that only in Bitcoin or in other ventures as well?

Because most people who had YOLO'd into Bitcoin and went all in also lost about a third of their net worth by March 2020 at the height of the pandemic.

Basically all assets lost value at the beginning of the pandemic, even Gold was hit

The point is that  looking back, every crisis looks smaller than it was. Probably the next crisis will be also as hard as the other ones for those who will live it, but looking back at charts they will look but fine like a big V.

I suppose everyone who took advantage and bought the dip at that time period were really happy at their gains in the end.

The point is that one time the money ends. I am basically 100% bought already in thinks I think will have a positive valuation over the next years (mostly BTC, Sp500, some ETFs, some treasuries and bonds from 5-6% APY, some brazillian bonds 15-20% APY, etc). I will not have money to buy more stuff in a crisis if it comes soon.

[Yamane_Keto]

Fees are low, it is an opportunity to group your inputs and/or open LN channels.

Fees are low, it is an opportunity to group your inputs and/or open LN channels.