Why I just sold 27 BTC after holding for years. (Also, a positive experience with BTC-E.)

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I've been in Bitcoin for years, held through the Mt Gox crash like it was nothing. Why? Because I believed in Bitcoin. I saw its future as the first and major internet currency, backed by the quickly growing infrastructure, low fees, programmable.

As of now, it's no longer true. Bitcoin is not a currency, it was turned into some sort of a settlement network with ridiculous fees and crazy amount of stuck transactions. We used to pride ourselves with kicking WesternUnion's ass, but we're quickly approaching their level of greed. I just paid more than $7 in fees just to transfer my coins in reasonable time. I used to pay for my hosting with BTC, but the fees would double my costs now.

Bitcoin is still good for wealth transfer. Maybe okay for wealth store, but I'm not so sure about that. As a programmer, it pains me to see such a great invention go to waste, and all that has to be done to solve the problem is the block size increase.

I still have a good amount of BTC left, but if some other currency takes over the market cap of BTC, I will probably sell more.

On the second part of my post – had an awesome experience with BTC-E. As shady as it seems, it has always worked for me. The deposits are way faster than Bitstamp's. The withdrawals worked perfectly. Thumbs up!

submitted by /u/putin_vor
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247 Bitcoin

Bitcoin News Search

1 News - 247 News - 247 Bitcoin - 1 Search


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