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Top Analysts Trolling PayPal and Altcoins as BTC Transfer Fee Sees Significant Drop

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Tue, 05/26/2020 - 12:54
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Yuri Molchan
Michael van de Poppe and Mati Greenspan are trolling PayPal’s alleged superiority to Bitcoin as the BTC transfer fee has dropped around 50 percent
Top Analysts Trolling PayPal and Altcoins as BTC Transfer Fee Sees Significant Drop
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Mati Greenspan and a crypto analyst from Amsterdam, Michael van de Poppe (aka Crypto Michael on Twitter), have come together in a comment thread to discuss the news of the BTC transfer fee dropping from nearly $7 to about half of that.

In the course of the discussion, they also trolled PayPal and different altcoins that non-Bitcoin maximalists love so much and see as superior to BTC.

Bitcoin transfer fee drops, but ‘still a bit high’

Bitcoin expert and crypto analyst Mati Greenspan, who founded Quantum Economics after leaving the position of eToro’s chief analyst, has taken to Twitter to share some good news.

Last week, the average fee for sending Bitcoin totaled $5.82 before rising to nearly $7. Mati Greenspan tweeted that this problem would be solved in 91 blocks after the next Bitcoin difficulty adjustment.

Now, he has written on his Twitter page that the BTC fee now totals $3.30. However, that is still a little bit high, he added.

He also wrote that the Bitcoin network is currently slow, taking twelve minutes to produce one block.

According to Blockchain.com, there are now fewer non-confirmed BTC transactions than there were over the weekend – the value has dropped from 93.558 m bytes on May 23 to 58.203 m bytes on May 26.

BTC mempool
Image via Blockchain.com

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PayPal under fire for being ‘cheaper than BTC’

Michael van de Poppe stepped in to take a jab at the payment service giant PayPal. He began trolling all of those who say that BTC fees are too high, reminding those individuals that PayPal charges four percent of every transaction.

Mati Greenspan also shot an arrow at altcoins, saying that he can use one of them to send cash much faster and cheaper without having to wait for BTC transactions to get verified.

Fans of XRP and DGB often refer to these arguments when offering proof that their altcoin is superior to BTC.

Mati Greenspan
Image via Twitter, @MatiGreenspan
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.