Gold bug Peter Schiff has once taken to social media to lambast Bitcoin, calling it"a failure." This time, he took issue with the cryptocurrency's exorbitant fees. Schiff pointed to the fact that the cost of a single Bitcoin transaction soared to a whopping $128. This prevents the cryptocurrency from functioning as a viable digital currency, according to the market commentator.
The massive uptick in fees was caused by the launch of the Runes protocol, which allows creating fungible tokens on top of Bitcoin. by YCharts, the average Bitcoin fee dropped to $34 on Apr. 21. While this is still high, miners might not be able to enjoy such profits for a long time following the halving event. Bitcoin has always been touted as a better alternative to gold due to how easy it is to transact it.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Peter Schiff questions Bitcoin ETF demand and $100K BTC price targetSchiff’s unwarranted dig didn’t go unnoticed, as several Bitcoin proponents responded to his post debunking his selective data.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »