So I've been using BitCoin on and off for the past year or so, and I've noticed the trend for processing fees to go sky high during peak times and still fairly high at all other times - the fees for small transactions are ridiculous. And yes, I know that you can customize the fee and set a lower amount manually because the network just automatically assumes a high fee. The problem is, everytime I've done this, the miners take weeks to confirm the transaction. Some transactions have never been confirmed and disappeared into the ether.
It just seems like this whole bitcoin thing is not for the little people (not leprechauns) and intended more for the big spenders. It's too bad, because it's really useful for making payments on various platforms where normally you'd need Paypal (I hate Paypal, though it is fairly cheap to use).
Re: Bitcoin - waste of time for the little people?
#2My money is stuck in limbo... Does anyone know how long it takes until low miner fee payments clear and/or get returned to wallet?
The Expanse. Watch it!
Re: Bitcoin - waste of time for the little people?
#3I know very little on crypt-o currencies. I was actually going to invest in Ripple at some point before there stock went up by 400%+ but I didn't and when I read up how that particular currency works it didn't exactly follow the decentralisation system that many other currencies follow in that world
Re: Bitcoin - waste of time for the little people?
#4I've kinda given up on it and just written off the money in those wallets. And with the hardcore crackdown on cryptocurrency in Korea it's probably not worth the bother.
The Expanse. Watch it!
Re: Bitcoin - waste of time for the little people?
#5Well it looks like BC crashed due to Korea's new crypto regulations. On the plus side, fees are now reasonably small...
The Expanse. Watch it!