Went away for a week. Now I'm the proud owner of 1 bitcoin. (reddit.com)

Before I left the price was $ 8500 and I had set a buy limit order on Gemini for $ 7K a few weeks ago when the price dipped below $ 10K. I figured it would never drop that low. I was on a cruise with no WiFi and roaming had no data for a week. So I arrived in Miami this am and the order had gone through. Insanity! I hope it doesn’t drop any more.


NYSE Owner on Bitcoin Futures: “We May Be Stupid for Not Being First” (news.bitcoin.com)

The chief executive of the owner of the New York Stock Exchange (NYSE), Intercontinental Exchange Inc (ICE), has discussed the company’s decision not to launch bitcoin futures markets. Jeff Sprecher of ICE described the opacity of the bitcoin markets as a driving factor behind the company’s decision.
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This whole “omg the transaction fees r so high, bitcoin is dying” thing is getting ridiculous. As a small business owner, I am charged 3% per credit card transaction and I am ALSO at risk for charge backs.

Crypto currency and bitcoin specifically is a game changer though we still are in the early phases of adoption. Transaction fees really aren't that much, especially when the transaction queue's aren't kept artificially high. As more people start to use bitcoin, this will stabilize.

Regardless though, I am just trying to show perspective. When you say that bitcoin transaction fees are too much, consider what merchants have to pay for credit card fees and the potential loss from chargebacks. And let's also think about cash usage. Just because a business accepts cash doesn't mean that they don't also incur additional costs such as armored trucks, security systems, etc that they need to use as a precautionary measure for security.

Bitcoin would alleviate so many of those costs and give businesses more security over time. As Bitcoin continues to evolve such as Lightning we can expect to see faster and cheaper transaction times.

Don't buy in to that Bitcoin is a terrible currency. As a matter of fact, it is a brilliant one and as time goes on, it will become more efficient and resilient.

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