Very high Bitcoin fees: Bitcoin, Ether & Crypto currencies are here to stay – but Governments will control them…
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[This is from some short notes I made to Alex on pieville. Crypto is very sophisticated. This is a revolution unlike any other. It won't go away. But the Government and the Rich and powerful will eventually move in on it and the Governments will control it. I also discovered why Bitcoin has such incredibly high fees now. It's simply from use!!! High demand! Jan]
Alex, I’ve been digging a LOT more into crypto of late, looking into technical things like mining, etc. I’m hearing things which show me that crypto is here to stay. Crypto is NOT going away. In fact, some crypto is so incredibly sophisticated that it’s decades ahead of its time. Ether for example contains the ability to create "contracts" that are totally automated. I have a pal who is studying that. Crypto won’t go away. But the Govt will move in on it over time.
In another note to Alex I wrote:
Alex, it also appears to me, from some of what I’m hearing that Bitcoin is helping to make other crypto prosper. There are so many people wanting to transact in Bitcoin and the prices of transactions are so insane that now it is forcing people to use other cryptos!!! So Ether is moving up. I hear that big companies are moving money using Ripple.
SOME ADDITIONAL COMMENTS FROM ME:
The more I look at crypto the more impressed I am. It is way ahead of its time. The sheer sophistication of some of the crypto is unbelievable. Ether, for example is an accounting system. It’s not just a coin but an accounting system and you can write COMPUTER CONTROLLED CONTRACTS in Ether. So it seems the computers will be able to automatically do banking type functions. AUTOMATICALLY. No humans will be involved.
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