And Bitcoin fees are getting higher cause less people are mining due to the fact the return when mining is poor, which means there isn’t enough computing power to process the transactions.
Ripple is the interesting one because they are controlling the mining aspect. However they will also need at some point to continue to fund their processing powers and that isn’t cheap.
As some article pointed out above it currently costs 267kw per transaction. In Victorian power terms that’s $69.42 per transaction in electricity alone!
Up here on Endor I’m a popular ewok. Everyone wants to be my friend. They know I like to eat deep fried wookiee, but unfortunately my deep fryer exploded. Ten of my friends immediately said borrow my deep fryer as we’re going overseas for a while. I only needed one deep fryer – there is only one brand up here but it’s a good one as it can flash fry a whole wookiee in just minutes – but Cindel, my cute but evil girlfriend told me to borrow all 10 deep fryers.
So I had 10 deep fryers and Cindel had a get rich quick scheme. We decided to sell all 10 deep fryers to other friends through Cindel’s corporate empire and leave the message out there that I still needed to borrow a deep fryer. Endor is the arsshole of the universe and I knew my friends wouldn’t come back any time soon to reclaim their deep fryers.
Then something amazing happened. Of the 10 people I sold other friends’ deep fryers to, within a short time they all said – ewok we know you love to deep fry wookiee so borrow ours whilst we go overseas. So of course I did and I sold theirs too.
Quickly I realized there was a mysterious force in the universe which I called the velocity of circulation of deep fryers. They just kept coming back to me. There were only 10 deep fryers but we were able to sell 100 because my stupid friends kept lending them to me.
As long as they don’t come back to reclaim their fryers there’s no problem and why would anyone want to live here as the only fun things to do are to hunt wookiee, hang with Cindel and count our money.
since i took an interest in all this the price went up 200 odd, while i’ve been doing some research, getting verified and waiting for funds to clear, so i was like man, i’ve missed the boat.
now i’m i’m like plz keep falling so i can get in and get a decent starting package so to speak, so i can invest in other coins.
My best guess is it’ll slide a bit more. I just learnt a little more about the South Korean and Chinese market and how what we’re seeing with prices atm is being driven by those markets.
So much illegal money from China and Korea seems to be being laundered through Korean exchanges. Now that the Korean govt is trying to clean things up, ppl are liquidating their holdings which is driving prices down. I’m going talking billions and billions of illegal money.
Good news is that this money is expected to re-enter the market which will push prices up again. This could take weeks or months though.
yep. and i think cos of that there’s been a fair bit of panic selling from new ish people into the market today by the looks of it.
I mostly wanna get as much as i can for my initial investment into eth purely just to buy up other coins that are predicted to blow up in 18 and beyond.
it could be a 2 fold win sort of if ether keeps going down, seems the others coins are somewhat linked to it’s price, and their price is falling also.
now i just gotta hope this 2 days waiting period for fund trasnfers doesn’t ruin it for me in this small window.