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What would concern me is, for example, if the cost of a transaction grows faster than the price of a given bitcoin in dollars. If that trend would continue for
by keith_analog 9y ago
What would concern me is, for example, if the cost of a transaction grows faster than the price of a given bitcoin in dollars. If that trend would continue for too long, then I suppose my bitcoin could get trapped in the system for an indefinite period of time, that is, from the time I no longer can justify moving the bitcoin because of high transaction fees to the time I can. It seems that this situation suggests a lower bound on the amount that makes sense to store in a bitcoin wallet. I wonder what that lower bound is today.
- wmf 9y agoThat has already happened as transaction fees have increased from less than 1 cent to $5.