The cost of making a BTC transaction—now at a whopping $128—is his main worry.
Schiff also reports that there is a major lag in the confirmation of transactions.
Even after the latest halving event, Bitcoin skeptic Peter Schiff continues to criticize the cryptocurrency. Schiff draws attention to the problems with Bitcoin that, in his opinion, are the cryptocurrency’s most basic function. The enormous rise in the cost of making a Bitcoin transaction—now at a whopping $128—is his main worry.
Schiff also reports that there is a major lag in the confirmation of transactions, which may take more than an hour. Schiff claims that these changes make Bitcoin unworkable for regular transactions and cast doubt on its future as a digital currency.
Credibility of Schiff’s Sources
The bitcoin community has been quick to voice their disapproval of Peter Schiff’s claims about the processing times and costs of Bitcoin transactions. Many have questioned Schiff’s assertions,
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