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Bitcoin Conference Stops Accepting BTC Due To High Fees (bitcoin.com)

Posted by msmash on from the not-the-onion dept.

An anonymous reader shares a report: Next week the popular cryptocurrency event, The North American Bitcoin Conference (TNABC) will be hosted in downtown Miami at the James L Knight Center, January 18-19. However, bitcoin proponents got some unfortunate news this week as the event organizers have announced they have stopped accepting bitcoin payments for conference tickets due to network fees and congestion. Bitcoin settlement times, and the fee market associated with transactions, have become a hot topic these days as on-chain fees have risen to $30-60 per transaction. These issues have made it extremely difficult for businesses to operate, and many merchants have stopped accepting bitcoin for services and goods altogether.

2 of 135 comments (clear)

  1. Greater Fool Theory by Anonymous Coward · · Score: 5, Informative

    Speculation. I buy bitcoins because I know some other idiots will buy bitcoins with the hope that they will keep on growing in prize.

    That's called the Greater Fool Theory. Highly speculative markets can turn the other way instantly.

  2. Re:$30+ fees? by Joce640k · · Score: 1, Informative

    The idiocy seems to have stopped now. It hasn't gone up for hours.

    I suspect Bitcoin will now oscillate up/down for a while then gradually die as the idiots move on to other things.

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    No sig today...