Bitcoin is having a moment. In addition to becoming the talk of the townits staggering price rise over the last 12 months has made some early holders of the cryptocurrency exorbitantly wealthy. But not everyone is riding that high. In fact, it's directly contributed to frustrated would-be Bitcoin transactors chasing a high of a different sort: Bitcoin is dark market bitcoin price victim of its own success.
It seems that the growth of Bitcoin's popularity has brought with it some challenges to the dark-web marketplaces that exchange cryptocurrency for illicit goods and services, and people are pissed. The transfer fees, you see, have gotten too damn high. What once was a pseudonymous way to buy bricks of cocaine has transformed into a relatively illiquid store of value.
Transferring BTC from your wallet to your dark market of choice now costs you a pretty Satoshi — a bunch of them, actually. And why is that? At present, the number of transactions that can take place on the blockchain is limited to around dark market bitcoin price per second.
In Bitcoin's early days, this was way more than enough capacity to handle the volume of trading. As such, there can be long waits for transactions to confirm — unless you pay dark market bitcoin price transaction fee, that is.
Those fees help your request cut the proverbial line, but as the line gets longer, those fees get higher. Even a relatively low fee seemed excessive to a would-be buyer transferring his or her BTC into a dark market ahead of a presumed purchase. Some aggravated buyers are even pressing markets to accept other forms of cryptocurrencysuch as Monero or Bitcoin Cash.
None of the markets seem to take dark market bitcoin price. Whether you're buying concert tickets, Airbnbs, or supposedly percent pure MDMA crystals, no one likes paying fees.
And while people looking to score questionably legal items like bags of uncut amphetamine sulfate powder have only a few online options — and those options may only accept Bitcoin — those hoping to use their cryptocurrency for legal transactions dark market bitcoin price have the luxury of using altcoins with significantly lower transaction fees.
Whether dark markets like Dream Market will eventually start accepting cryptocurrency other than Bitcoin is anyone's guess, but, ya know, the customer is always right and all that — perhaps especially when that customer is furiously trying to score. We're using cookies to improve your experience. Click Here to find out more.
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