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There are actors in the system sending thousands of transactions to themselves in order to add leverage to the block size debate.
Bitcoin politics plays too big a role in its scalability dispute, meanwhile unconfirmed transactions queue, increasing fees scare investors away.
Gains miners make from increased Bitcoin fees pale in comparison to losses from price restriction due to lack of scaling solution, Erik Voorhees has said.
Cryptocurrency businesses continue to feel the strain from increased fees as Bitso levies a 0.0005 BTC withdrawal charge.
A poll by Vinny Lingham has revealed an average 31% of respondents believe $1 transaction fees are too high.
On April 29, the Bitcoin mempool, the holding area for unconfirmed and pending transactions, recorded more than 82,000 transactions. Most transactions were delayed for up to 48 hours.
While some transactions are delayed, preferential treatments have been given to transactions where fees are applicable, thereby chipping into one of the acclaimed advantages of peer-to-peer transactions which is the absence of charges.
Coinbase users will have to pay miner fees themselves from Monday as the company says costs have become “significant.”
Ethereum price is surging and on March 13 it reached its all-time high market cap of $2.74 bln.
Markets have factored in the fee imposition by Chinese exchanges, so we are entering a period of Bitcoin price stability.
Four major Chinese Bitcoin exchanges including BTCC, Huobi, OKCoin and Yunbi have officially begun to charge trading fees to all users, traders and investors, as of Jan. 24, 2017.
Bitcoin’s scaling issues have long caused a deep divide within the community as well as transaction delays. Unfortunately, there is a human cost to these delays.
Facebook IQ published a white paper entitled “Millennials + money: The unfiltered journey” saying that 92% of millennials firmly expressed their distrust of banks.
Consumers want a repeal of the Durbin Amendment which cost them an estimated $4 billion annually as they use a debit card to make a purchase.
Bitmain’s BTC.com launches its open-source platform to compete in the global Bitcoin mining pool distribution market.
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