Bitcoin Transaction Costs Skyrocket Above $20

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There is a worry among online gambling operators and some gamblers themselves that fees tied to the crypto-currency Bitcoin are getting too high for comfort.  On Tuesday, it was reported that Bitcoin transaction fees had shot above $20.

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Speaking to Bitcoin.com site owner and one of the original Bitcoin investors, Roger Ver, this past week, Gambling911.com was warned that these fees could move even higher.

“I think that PayPal fees are even less than that of Bitcoin right now,” Ver told us

That could be especially true right now.

CalvinAyre.com issued this ominous warning late Tuesday:

If BTC doesn’t collapse by New Year’s, it will probably go even higher into 2018 as the subject will be the holiday talk of nearly every family in the Western World, in a market that operates 24/7, inspiring other reluctant family members to buy in as well. If this doesn’t scare you, then you should probably stand up to charging rhinoceros for a living. In this case though, we all lack the depth perception necessary to determine when the rhinoceros will actually hit. We’re all just sitting there looking at it run towards us thinking how awesome and fearless we are.

ArsTechnica illustrated the fluidity with the fees in just a few days period. 

A week ago, it cost around $6 on average to get a transaction accepted by the Bitcoin network. The average fee soared to $26 on Friday and was still almost $20 on Sunday.

Ver has shunned Bitcoin in favor of Bitcoin Cash, pressing that the later is what Bitcoin was meant to be.

- Aaron Goldstein, Gambling911.com

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