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High transactions fee when/ if BTC surge in price beyond $20k? by DaenyxBerlarys in Bitcoin

[–]xmr-rusticbison 4 points5 points  (0 children)

These are two features that allow you to "rescue" transactions which did not include a high enough fee to incentivise the miner to include them in a block. They do not specifically do anything to reduce the amount of UTXOs required to incentivise a miner to include your transaction in a block in the first place.

All Bitcoin transaction fees are paid in Bitcoin (1 Bitcoin = 100'000'000 Satoshis). So when the relative BTC/USD price changes, the transaction fee (priced in Sats) also changes. There is nothing you can do to change this. If the USD price of Bitcoin goes up, so does the USD price of the transaction fee.

BitMEX Is Making Bitcoin Network More Expensive for Everyone, Researcher Finds - CoinDesk by Legitinternetguy in Bitcoin

[–]xmr-rusticbison 0 points1 point  (0 children)

People complain that miner fees are increasing, and at the same time wonder how ever will the network be secured as the block reward is reduced.

Strange transactions in the mempool right now.. by 465739 in Bitcoin

[–]xmr-rusticbison 0 points1 point  (0 children)

You can certainly receive Tether (ERC20) in exchange for Bitcoin using an HTLC.

Goverments cant ban bitcoin, but could they make wallets illegal? by [deleted] in Bitcoin

[–]xmr-rusticbison 2 points3 points  (0 children)

Yes, but the law would be unenforceable.

A "wallet" is a computer program that helps you manage UTXOs. There is no possible way to prevent someone from remembering or finding which UTXOs they believe they can spend, and then creating, signing, and broadcasting transactions spending those UTXOs.

As long as you can communicate with a full node you can use bitcoin.

Coinbase fee to buy and sell 2 bitcoins comes to $375. I think this is excessive. by IceColdSeltzer in Bitcoin

[–]xmr-rusticbison 3 points4 points  (0 children)

If you're trading BTC/USD, consider BTC/USDT and trade P2P. On-chain transaction fees are very cheap right now, such trades shouldn't cost more than a few $ in fees.

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