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re: Official CryptoTalk Thread
Posted on 6/30/21 at 12:08 pm to DallasTiger11
Posted on 6/30/21 at 12:08 pm to DallasTiger11
I liked this discussion on 1559. Not necessarily deflationary now but after the merge only 10gwei gas price will be deflationary.
Warning: Eth Bulls
https://www.youtube.com/watch?v=85M3yGvzCe4&t=3519s
Warning: Eth Bulls
https://www.youtube.com/watch?v=85M3yGvzCe4&t=3519s
2
Posted on 6/30/21 at 12:33 pm to tagatose
The next guy isn't as bullish on gas prices in the future.
Posted on 6/30/21 at 12:51 pm to boomtown143
Yeah. Their long term (5 years or more) gas prediction is 1000s of gwei on layer 1 and 1/1000s gwei on layer 2.
Predicting Layer 1 will become a ghost chain while everyone uses super cheap gas on layer 2.
(1000s of gwei on layer 1 makes staking REALLY REALLY attractive)
Predicting Layer 1 will become a ghost chain while everyone uses super cheap gas on layer 2.
(1000s of gwei on layer 1 makes staking REALLY REALLY attractive)
Posted on 6/30/21 at 2:18 pm to tagatose
those guys are paid eth shills
Posted on 7/1/21 at 6:23 am to tagatose
quote:
Predicting Layer 1 will become a ghost chain while everyone uses super cheap gas on layer 2.
Probably
quote:
Their long term (5 years or more) gas prediction is 1000s of gwei on layer 1
Probably not.
Competitors like Cardano will siphon users. Why transact at that fee? ETH could be at $10K+. 1000 Gwei would be a huge transaction fee.
This post was edited on 7/1/21 at 6:28 am
Posted on 7/1/21 at 7:48 am to Hangit
Charts last few days actually showed weakness. It’s going to be a bad sign if we retest 30 again before 42k even after chewing through 35k and rejecting 30k a third time.
This would mean there is very little appetite for 35k+ BTC regardless of perceived floor or circumstances.
That said, if btc runs, everything will, as per usual.
This would mean there is very little appetite for 35k+ BTC regardless of perceived floor or circumstances.
That said, if btc runs, everything will, as per usual.
This post was edited on 7/1/21 at 7:49 am
Posted on 7/1/21 at 8:02 am to Tiguar
Yeah, this has a been a very disappointing follow through from $35k. Rather pathetic actually.
Posted on 7/1/21 at 9:03 am to Hulkklogan
quote:
Why transact at that fee? ETH could be at $10K+. 1000 Gwei would be a huge transaction fee.
Retail wouldn't. In this theory L1 would pretty much only be used by L2s posting proofs and rollups back to L1, institutions, and whales.
Posted on 7/1/21 at 9:24 am to TigerDeBaiter
It’s one of those days…
Posted on 7/1/21 at 9:52 am to DallasTiger11
I understand that, but why would these L2s and whales continue to pay thousands of dollars per proof and rollup? At current ETH prices, 1000 gwei is ~$670 USD. 1000 gwei when ETH is at $10K? I don't even want to guess. Why would projects and sidechains not move to Cardano or another platform where they could potentially pay way less per transaction?
Count me as a skeptic of that number. I'm an ETH bull but like rocket said, those Bankless guys are paid shills and massive ETH bulls. You've got to take what they say with a grain of salt.
Count me as a skeptic of that number. I'm an ETH bull but like rocket said, those Bankless guys are paid shills and massive ETH bulls. You've got to take what they say with a grain of salt.
This post was edited on 7/1/21 at 9:53 am
Posted on 7/1/21 at 2:24 pm to Hulkklogan
quote:
Jack Mallers
@jackmallers
·
2h
I just published Announcing the Bitcoin Tab
Today, the cost to acquire bitcoin works its way towards zero.
Buying #bitcoin for no added fees is how it always should have been.
Now it is.
Pawn to e4, world. Your move.
This could be a game changer - Jack Mallers with Strike is about to offer a Bitcoin buy/sell tab in his Strike app with ZERO FEES. No inflated BTC price, no fees, all on the lightning network.
Here is where you put in your email for early access when it is rolled out
bitcoin.strike.me
Posted on 7/1/21 at 6:45 pm to TigerTatorTots
coinbase can not like that news..
why the hell would anyone use any other place to buy Bitcoin now if you can get it without fees
why the hell would anyone use any other place to buy Bitcoin now if you can get it without fees
This post was edited on 7/1/21 at 6:45 pm
Posted on 7/1/21 at 6:54 pm to rocket31
This will end up like when Schwab lowered their trading fees years ago. Everyone had to follow suit. I see it as a very good thing. Healthy competition in the space. 
Posted on 7/1/21 at 6:56 pm to rocket31
quote:
why the hell would anyone use any other place to buy Bitcoin now if you can get it without fees
What’s in it for them? Bitcoin as the attraction and then add fees on all the alts?
Posted on 7/1/21 at 6:56 pm to rocket31
quote:
why the hell would anyone use any other place to buy Bitcoin now if you can get it without fees
Exactly. Just downloaded the app.
Posted on 7/1/21 at 6:56 pm to rocket31
Currently the main drawback is Lightning being relatively in its infancy, withdrawing BTC from Strike to a BTC core wallet would require your typical miners fee (which coinbase and some others currently subsidize). However, if your wallet had access to a Lightning node, then withdrawals would also be nearly free. Or you can just hold in your Strike wallet and not worry about a withdrawal fee. Once lightning rolls out more over the coming year, I see this being a monumental step forward in buying/selling BTC.
This post was edited on 7/1/21 at 7:01 pm
Posted on 7/1/21 at 7:24 pm to TigerTatorTots
If anyone needs any proof why nobody should take my advice: I took most of my stables and aped in 2 days ago on BTC, ETH, LINK, and TEL, convinced the market is bout to take off. Looked like a good decision yesterday. Today....?
Posted on 7/1/21 at 7:31 pm to supadave3
quote:
why the hell would anyone use any other place to buy Bitcoin now if you can get it without fees
Coinbase's eventual stock price fall predictions were based on this. They will have to lower their fees to keep up. CB's revenue has been based on fees that they can not sustain in a competitive market. Although people will continue to use CB because of fear of theft and CB's mainstream stability.
This post was edited on 7/1/21 at 7:33 pm
Posted on 7/1/21 at 8:53 pm to TigerTatorTots
I feel like there's a catch, but I don't know what it is. Nothing is free.
Posted on 7/1/21 at 9:09 pm to BottomlandBrew
The bitcoin lightning network is basically free. Its the beauty of Lightning
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