5 ms·

Sure, it's created out of hot air and instead of interest you have crazy transaction fees.

by okl 5y ago

rgrieselhuber 5y ago
Paid to whom? If it was created out of hot air, it would be a hell of a lot cheaper than it is now.
- HWR_14 5y ago
  BTC is quite literally made out of hot air. Burning coal to create hot air to spin turbines is the most common energy source for BTC mining. And "hot air" describes most of it's coals replacements as well.
  - rgrieselhuber 5y ago
    And yet it still costs far less energy to mine Bitcoin than it does to sustain Petrodollars.
    - okl 5y ago
      Do you have data for that comparison?
    - ryan93 5y ago
      The entire world economy runs on fiat dollars.
    - HWR_14 5y ago
      Yes, if in your analysis digging up fossil fuels to power the entire world infrastructure is just a side effect of sustaining the currency's core value. Good thing cars, airplanes and shipping have as much intrinsic value as waste heat.
BTCOG 5y ago
100% BULLSHIT. The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021. The average tx on chain the past 9 months has been about 10-15 cents. Unless you stand here trying to tell everyone that 10 cents is a crazy transaction fee. Quit lying, or better yet quit spreading FUD purposely.
- okl 5y ago
  https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3y https://bitinfocharts.com/comparison/bitcoin-transactionfees... https://ycharts.com/indicators/bitcoin_average_transaction_fee https://ycharts.com/indicators/bitcoin_average_transaction_f... https://www.blockchain.com/charts/fees-usd-per-transaction https://www.blockchain.com/charts/fees-usd-per-transaction
  - BTCOG 5y ago
    https://mempool.space/ https://mempool.space/ https://bitinfocharts.com/comparison/bitcoin-median_transaction_fee.html#1y https://bitinfocharts.com/comparison/bitcoin-median_transact... And considering I use Bitcoin frequently, and I'm constantly, on a weekly basis sending on chain for 5 cents, 10 cents max. I'm in within a couple blocks, every single time. You are straight up spreading FUD.
    - Forbo 5y ago
      > 100% BULLSHIT. The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021. The average tx on chain the past 9 months has been about 10-15 cents. By your own sources your original claims don't hold up. So much for "100% BULLSHIT". Please stop with the zealotry, it makes the entire space look foolish.
    - okl 5y ago
      Let's look at your claims again: > The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021. The average transaction fee on April 21st was $62.779. You are wrong. > The average tx on chain the past 9 months has been about 10-15 cents. Clearly wrong. The data you cite is the median transaction fee, not the average transaction fee. For the lowest median transaction fee the chart shows 22.9 cents. Even that is above your claimed 10-15 cents. Good for you that you spent less on your transaction, doesn't change the data though.

Sure, it's created out of hot air and instead of interest you have crazy transaction fees.

by okl 5y ago

Sure, it's created out of hot air and instead of interest you have crazy transaction fees.

rgrieselhuber 5y ago

Paid to whom? If it was created out of hot air, it would be a hell of a lot cheaper than it is now.

HWR_14 5y ago
BTC is quite literally made out of hot air. Burning coal to create hot air to spin turbines is the most common energy source for BTC mining. And "hot air" describes most of it's coals replacements as well.
- rgrieselhuber 5y ago
  And yet it still costs far less energy to mine Bitcoin than it does to sustain Petrodollars.
  - okl 5y ago
    Do you have data for that comparison?
  - ryan93 5y ago
    The entire world economy runs on fiat dollars.
  - HWR_14 5y ago
    Yes, if in your analysis digging up fossil fuels to power the entire world infrastructure is just a side effect of sustaining the currency's core value. Good thing cars, airplanes and shipping have as much intrinsic value as waste heat.

BTCOG 5y ago

100% BULLSHIT. The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021. The average tx on chain the past 9 months has been about 10-15 cents. Unless you stand here trying to tell everyone that 10 cents is a crazy transaction fee. Quit lying, or better yet quit spreading FUD purposely.

okl 5y ago
https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3y https://bitinfocharts.com/comparison/bitcoin-transactionfees... https://ycharts.com/indicators/bitcoin_average_transaction_fee https://ycharts.com/indicators/bitcoin_average_transaction_f... https://www.blockchain.com/charts/fees-usd-per-transaction https://www.blockchain.com/charts/fees-usd-per-transaction
- BTCOG 5y ago
  https://mempool.space/ https://mempool.space/ https://bitinfocharts.com/comparison/bitcoin-median_transaction_fee.html#1y https://bitinfocharts.com/comparison/bitcoin-median_transact... And considering I use Bitcoin frequently, and I'm constantly, on a weekly basis sending on chain for 5 cents, 10 cents max. I'm in within a couple blocks, every single time. You are straight up spreading FUD.
  - Forbo 5y ago
    > 100% BULLSHIT. The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021. The average tx on chain the past 9 months has been about 10-15 cents. By your own sources your original claims don't hold up. So much for "100% BULLSHIT". Please stop with the zealotry, it makes the entire space look foolish.
  - okl 5y ago
    Let's look at your claims again: > The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021. The average transaction fee on April 21st was $62.779. You are wrong. > The average tx on chain the past 9 months has been about 10-15 cents. Clearly wrong. The data you cite is the median transaction fee, not the average transaction fee. For the lowest median transaction fee the chart shows 22.9 cents. Even that is above your claimed 10-15 cents. Good for you that you spent less on your transaction, doesn't change the data though.