Re:Bitcoin hits 3-year peak, nears record high on U.S. ETF a...
by wmf on Thursday February 23, 2017 @05:51PM
(#13718630)
Bitcoin's value comes from speculators who use exchanges not the blockchain. Their off-chain transactions don't need to confirm and they don't pay (Bitcoin) fees.
Long-term "hodlers" also probably don't care if it takes a full day and a $100 fee to cash out their $100K of profit.
People who actually use the Bitcoin blockchain could all be scared away and BTC would still be $1,000.
Long-term "hodlers" also probably don't care if it takes a full day and a $100 fee to cash out their $100K of profit.
People who actually use the Bitcoin blockchain could all be scared away and BTC would still be $1,000.