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The rally is partly because it can’t scale and people are unable to get their bitcoin to an exchange to sell it. Instead it is stuck in the mempool... and there

• gruez 9y ago
  >The rally is partly because it can’t scale and people are unable to get their bitcoin to an exchange to sell it. that's demonstrably false. there's plenty room of you're willing to pay enough in transaction fees. if you don't want to pay $5 in transaction fees to cash out $5000, that's your problem. either that or you don't want to pay $5 to cash out $10, but in that case that has no appreciable impact on trading volume. >For a bitcoin that has scaled see Bitcoin Cash. if you mean bitcoin with block size limit lifted, then yes. but right now it's handling less transactions than bitcoin so it's not fair to say it has scaled.
  • deleted 9y ago
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  • taysic 9y ago
    The median fee is currently $15 and there have been around 200k unconfirmed transactions for days. Is it false in addition to this that around half of all bitcoin addresses hold less bitcoin than the current fee? That’s a massive constriction of supply. Very few people are transacting at amounts of $5000 where the fee might make sense.