Bitcoin Forum

I began to wonder what will happen with the amount of transaction fee in the future..

I mean, that transaction fee continues to grow, increasing also Bitcoin price.

Now optimal fee is ~19k satoshi, but what gonna happen in few years? How high can be transaction fee when Bitcoin price will be let say $10k?   ;) :D

Is it possible that transaction fee in future will be for example $10 ?  ::)

I don't think the tx fee would ever increase to as high as $10, but I'm not quite aware of the workings of why it has been going up in the first place besides the increase in transaction load. I'm worried more about the size of the blockchain growing faster than Moore's Law.

Size of blockchain? I think you mean size of block?
There are already people that think about this - in my opinion it is just technical problem. Maybe not easy, but surelly it will be fixed.

Transactions fees can be minimised by sending less bitcoin not necessarily be true. I think with time transaction fees would reach sky high. At a time when miners will have very less profit then definitely they would rise three transaction fees even more

It's possible that sometime in the future at least when all the Bitcoins have been mined in 2140, most of the miners would then only be earning by the transaction fees and it would be expected that by then if the fees is about USD 10, then it still wouldn't be as high. Cause think of the future value of the currency, in the future the value of USD 10 would be just as much as USD 0.05 or 0.1 is now (only saying it's a possibility considering how the value of currencies are now as compared to the past). So, the transaction fee still wouldn't be as high as compared to other remittance services like Western Union or probably another service in the future. It could become possible that other forms of blockchain payments emerge and Bitcoin would be in larger competition with those that don't charge fee at all, but that's another situation.

It's possible.
But it wouldn't be because the tx fee rises to say .001/transaction.(could also be possible coz of the miners,although unlikely)
It would rise as Bitcoin value in USD rises.
Like this:

 if 1 BTC = $740 then  .0002 tx = $0.15 then if
    1 BTC = $7,400 then .0002 tx = $1.5 so if
    1 BTC = $74,000 then .0002 tx = $15 .

But that is only if the tx fee stays on that rate despite the dollar equivalent($74,000)
Although, who's to say how fiat value would be by then.
(Now: $10 = buy 3 bread Future: $10 = buy 1 bread)

 

I think for me it impossible that you pay high fee even the price of bitcoin is increasing they are just relaying in the present price of bitcoin.
But we have no assurance maybe it can be happen in the future..  because we are growing and the price of bitcoin is keep increasing..

This scenario is taking only rising Bitcoin price. When you calculate also rising transaction fee it can be double.
But yours and my counting is only theoretical, i'm waiting for some expert that will explain that in technical way..

maybe even more.. but it's impossible to predict...
presuming that the bitcoin price increases, the fee could even go lower.(Less bitcoin, but the same amount if converted to fiat).

Indeed.
It does only take into factor the rise of Bitcoin's value in dollar since I really have no idea how Tx fees are even calculated/based on. Not the specifics anyway. (I just sort it as miners and traffic) ;D

Very well, then, let us all wait for experts to explain the technical details.  :D


Yes. Precisely.

 

The network should quickly adapt to the change.

The recommended transaction fee increases depending on the number of unconfirmed transaction and their fee.  If most of those transactions uses high fees then the recommended fee will increase also.
It is entirely up to the sender how much fee they would include in their transactions.  Those who uses 0.001BTC per KB fee obviously thinks that they can afford it.  If the price get higher then people will most likely decrease their transaction fees to something that they can easily afford.

Looks like nobody can give clear answer what will happen with transaction fees. For me transaction fees are normal thing, we pay for everything today, and I just hope they will not increase too much in future. I use blockchain and for now fee is reasonable for me.
Do xappo still have wallet without fees, how they work?

very possible. in fact if i want to empty my wallet today in one go which has a lot of inputs it would cost me $12 normal priority. so i ain't gonna be moving it or spending it any time soon. if it continues to rise then my next tx will be to an exchange and i'll go find something that doesn't cost the earth to use instead.

the fee was lowered once before when the price went through the roof. i assume it can be done again. if it there isn't a cheaper second layer soon then bitcoin will no longer be of any use to me.

The top transaction fees will rise a lot. That will be for top speed processing. Even 10$ or more is clearly possible.

But the ones not in a hurry will still be able to get their transgers for tiny fees, like today.

who or what has a use for something that costs $10 to send every time? we may never get a lightning network. if it was a rock solid bona fide digital gold then maybe that could be justified but it's a couple of decades minimum before it would even look like happening. in the meantime a fee of that size finishes off almost every current use case, not there are that many.

The transaction fee is already high. The minimum recommended transaction fee is 0.0000001 per byte which means depending on your transaction, you would need to set the desired fee so that your transaction gets confirmed, irrespective of the price of bitcoins. I don't feel that this amount would matter to an extent we would end up paying a higher fee than the amount of coins we are sending as BTC would never reach beyond $20000.

it doesn't have to be free and of course it hardly ever has. what it does have to be is realistic. most people have no use for it right now and this is another reason not to consider it. most of the people who are using it right now have a finite limit of acceptable expense. it's already brushing that for some and we're hardly out of the starting blocks.

I'm not an expert on bitcoin by any means, but I don't quite understand something.... why would the fee have to remain at BTC0.0002 (for example)?  Would not the fee scale with the price of bitcoin to adjust itself appropriately? 

For example:


Rather, if 1 BTC = 74,000 then shouldn't the transaction fee be BTC0.000002?

The transaction fee varies to the best of my understanding with the value of transactions fee. I have made transfers with different transaction fees and the last one I did was 9 cents in Btc I expect the transaction fee to move in the same rate with increase in price of bitcoin but not at the same rate because its miners fee and they are paid in Btc and not dollars.

Your review makes me think of the option of handling transactions in the future .. :)
Still, it seems to me that technically it will look different.

Neither am I. But would that not be basing the value of the transaction on dollars?
As I understand it, it is usually calculated per bytes and in BTC. So if the price of bitcoin rises, so does the value of the tx fee.

Although I remember back in October 2014:
1 BTC = $350 and tx fees was around .0001 = $.04 , yet now
1 BTC = $740 while the tx fees has doubled at .0002 = $.15

So, I just keep seeing it go up. I do hope it doesn't double again.

These days you may need 70-90 satoshi/byte if you want your transaction get confirmed in less than 1h (~30min). And you can still send with 2000 satoshi / transaction, just it may take one day.
The volumes will rise and the top fees may get higher because of the competition.
That was my point, maybe first I was not clear enough...

i think in the near future when the price will increase gradully then the fees with surly be lowered because no one will pay $10 or $15 to transact $1 or even $1000 thats like paying like old days and thats what banks do

Fees will necessarily adjust to what market would dictate. Your math may be correct, but it is just math and may not correlate well with reality. If 1 Bitcoin is worth $74,000, that would basically mean Bitcoin worldwide adoption. How many transactions per unit of time will the Bitcoin network process then? I guess many millions or even hundreds of millions daily compared to pathetic 250k transactions on average today. Further, what will the block size be then? Obviously, it should get increased multifold in order to fully accommodate this growth in the number of transactions. Thereby, there is hardly any reason to think that the fees will remain the same...

They should get down proportionately with the block size increase (i.e. the number of transactions that the block can accommodate)


I subscribe to every word of this

True. The numbers do only take into account the rise in $ value and not the possible increase in traffic.

Anyhow, there really is no way to calculate accurately. Too many unknowns. (price,adoption,traffic,etc)
But I do agree with this.

Give or take a few.


 

Transaction fees are voluntary on the part of the person making the bitcoin transaction, as the person attempting to make a transaction can include any fee or none at all in the transaction.

A transaction was safe to send without fees if these conditions were met:

- It is smaller than 1,000 bytes.
- All outputs are 0.01 BTC or larger.
- Its priority is large enough

The transaction fee is processed by and received by the bitcoin miner. When a new bitcoin block is generated with a successful hash, the information for all of the transactions is included with the block and all transaction fees are collected by that user creating the block.

The transaction fee is therefore an incentive on the part of the bitcoin user to make sure that a particular transaction will get included into the next block which is generated.

How much fees we pay for a transaction?
Sometimes, it is not possible to give good estimates, or an estimate at all. Therefore, a fallback value can be set (default: `0.0002` BTC/kB).
Furthermore, Bitcoin Core will never create transactions smaller than the current minimum relay fee. Finally, a user can set the minimum fee rate for all transactions, which defaults to 1000 satoshis per kB.

The transaction fee is going to remain relatively the same, assuming the community grows continuously and we see the block sizes grow to accommodate more transactions. If that can happen then we are going to be able to manage a ton of transactions in the span of a single block, and while upping the size of the blockchain it is also going to allow for the fees to be considerably lower.

Okay. Thanks, that helped. Since I must admit I didn't know one could actually send without fees.
Though you really should have included the link.
https://en.bitcoin.it/wiki/Transaction_fees
--------------------------------------------------------
Anyone tried this?

I dont think it will be higher that much , see we are growing the people who uses btc is increasingly in numbers now so there will be more that can be charge for transactions, there is a positive side that the more people who transacts in bitcoin the more that the ransacton fee uses to. It maybe enough.


Btc is increasing but im not hoping that transaction fee will that increase too. Only the btc please :)

The price to reach such big value of 10k is not that easy as well if it reaches too there won't be much difference with the transaction fee. One can go upon one's own need. You may get delayed confirmation if you afford a reduced fee and get faster confirmation if high fee paid. Another thing based upon the amount to be transferred it might be differentiated with certain fee.

If Bitcoin reaches $74,000 would it then be possible to send a small amount with a .000002 transaction fee? It should because why send $100 in Bitcoins with a $15 fee across the network. That would be stupid and "anti Bitcoin".

Sorry, but i think that you make one basic mistake: transaction fee must grow in this condition of market. I dont see any other way. If you have any other option about market condition for next years, please, let as know..

Market may have an effect in transaction fee but I think it is safe to say that the said transaction since voluntary will be set to minimum if the price of bitcoin skyrocketed.  I'm sure everyone will try to set their transaction fee to be economically cheap and by that they will follow the default transaction fee.  which is as of now bitcoin wallet default tx fee  is 10 satoshi per byte.  But since competition is tight others tends to double even more it resulting to 30 -50 satoshi per byte for the optimum speed of confirmation.  

source : http://www.coindesk.com/new-service-finds-optimum-bitcoin-transaction-fee/


Probably the competition of being confirmed first will be the key of the increase of the tx fee in the future but I am sure senders will limit so they won't be spending too much just for the transaction fee.  But i think future upgrade will somehow fix this issue.
By the way transaction fee is not dollar base but instead it is based on the transaction's size.  So if the price of bitcoin gone higher so is the cost of the transaction fee in terms of USD.

That is correct. The minimum transaction fee has fallen over the years in BTC terms.
What we are seeing now is a temporary blip, where the fees have increased due to limitations on block size.

I will start from the beginning, because in my opinion here is what we all want to know:

1 - Bitcoin price i growing
2 - Transaction fee is growing

How the he11 it is possible that with everything growing something can go down?

yes i think its possible and actually i am not to confusing to think about the fee because for right now, the fee is still smallest fee that i can pay and beside i think that its fine to send some amount with that fee.



its depend on how people react about this, but if the demand is increase but the supply is reduce then it will make the price going to high. i don't know if in the future, people don't use bitcoin for some reason, maybe the price will be going down as you said. but me and especially people with using bitcoin don't want this to be happen, all we want is the price still going up.

I think transaction fees are not too expensive, although will be increase up to 20k sat, and will there are different fees between bitcoin wallet service fees, for example Blockchain.info will has different fee with btc.com and the other bitcoins wallets services , so depend on what kinds of services wallet will be used.

we should be thinking about moving the minimum fees down to 100sat/kb. when the fiat valuation rises.

but nah. core wants to push the fee war by introducing 0.0002 fall backs and then average fees etc
rather than letting transactions through and letting pools be instantly reactive to demand and open to decide,

so lets show a scenario where nodes AND pools used the "averaging" instead of reactive

in the future it wont matter what you set in your node. if someone else in the network had their relay fee set to "average" or say 0.00024. this will cause transactions to hop around the network of ethical nodes but then get dropped by the expensive node BEFORE even getting to a pool.

imagine there were 7 hops to reach a Pool from yoUr node, and each node in the relay set a different rate

U->0.00010->0.00012->0.00016->0.00018->0.00020->0.00022->0.00024->P

now imagine you have 1000tx of 0.00011 they get dropped here. and pool never sees it
now imagine you have 1000tx of 0.00019 they get dropped here. and pool never sees it
now imagine you have 1000tx of 0.00023 they get dropped here. and pool never sees it
now imagine you have 1000tx of 0.00024 they get through and pool sees it

whatever node has the highest rate between you and a pool becomes a gatekeeper, keeping cheap transactions from reaching the pool. forcing people to pay more just to be let past the gatekeeper to even be seen by the pool.
enforcing a fee war of a price rise just to be seen even during low demand.

also pools themselves wont just add any tx if demand was low not just because they are not even receiving tx's but also the "average fee" doesnt instantly react. but slowly reacts over a number of blocks. as they are no longer reactive to just add what they please, but now what gets added is based on an "averaging".

now continue imagining the pool only sees transactions over 0.00024(due to average previous demand). and an "average fee" of 3 hours (like 21.co uses) takes upto 18 blocks to bring the average down. meaning pools then makes empty blocks. until the average drops enough to see cheaper transactions

meaning if there were only 4000 sent in one 3 hours segment. where blocks allow 2500tx in per block
where the "average" network fee starts at 0.00024 due to previous demand

now imagine the 4000tx's vary in fee like this:
1000tx of 0.00011
1000tx of 0.00019
1000tx of 0.00023
1000tx of 0.00024

3000 would not even reach the pool straight away due to expensive relayers dropping the tx, treating it as third class citizens

it would look something like this:
block 450,000 - 1000tx (average already at 0.00024) <-the relay network only lets the 1000tx at 0.00024 to reach a pool
block 450,001 - 1000tx (average decreases to 0.00022667) <-the relay network only lets the 1000tx at 0.00023to reach a pool
block 450,002 - 0tx (average decreases to 0.00020148) <-the relay network hasnt let any tx to reach a pool
block 450,003 - 1000tx (average decreases to 0.00018889) <-the relay network only lets the 1000tx at 0.00019 to reach a pool
block 450,004 - 0tx (average decreases to 0.00016371) <-the relay network hasnt let any tx to reach a pool
block 450,005 - 0tx (average decreases to 0.00015111) <-the relay network hasnt let any tx to reach a pool
block 450,006 - 0tx (average decreases to 0.00013852) <-the relay network hasnt let any tx to reach a pool
block 450,007 - 0tx (average decreases to 0.00012593) <-the relay network hasnt let any tx to reach a pool
block 450,008 - 0tx (average decreases to 0.00013333) <-the relay network hasnt let any tx to reach a pool
block 450,009 - 0tx (average decreases to 0.00011334) <-the relay network hasnt let any tx to reach a pool
block 450,010 - 1000tx (average increases to 0.00010074) <-the relay network only lets the 1000tx at 0.00011 to reach a pool

but sticking with the "average" scenario.
ofcourse human emotion would see the 450,002 was empty so the 2000tx that got rejected for the 3rd time. would up their price to get into 450,003
block 450,003 - 2000tx (average decreases to 0.00018889) <-the relay network lets the 2000, >0.00019 tx to reach a pool
and bring the average over 0.00019000

however if pools were instantly reactive to demand. and the relay network was instantly reactive. instead of the stupid concept of averages.
in this low demand scenario all transactions would have been included in 2 blocks..
eg
block 450,000 - 2500tx - includes 1000 at 0.00024, includes 1000 at 0.00023, includes 500 at 0.00019,
block 450,001 - 1500tx - includes 500 at 0.00019, includes 1000 at 0.00011,

not 11 blocks with 7 blocks being empty if just left to wait for averages to drop, or 4 blocks if getting peed off to pay more due to emotional rejection and seeing an empty block

the increasing number of providers and how the price of bitcoin wallet grows. value fee in bitcoin can go up and down depending on the price of bitcoin

And it is what i was waiting for! Thank you franky1 !
I have to go sleep now because im tired a bit, but tomorrow i will read your text two times!
Thank you for your all effort!

In the past, the size of the blocks were significantly smaller and miners have more capacity to include more transactions into their block. With the increasing transaction volume, blocks are getting extremely close to 1MB per and they simply don't have so much capacity and accept transactions with smaller fees. If the block size does increase or segwit works well, miners can accept more transactions.

Transactions with very low fee will still confirm, just over a long period of time.

Transactions can be relayed if they fits under the free transaction policy. However, the transactions have a very low chance of getting confirmed over the next few blocks. The problem with this is that miners are choosing to accept the transactions with fees first and blocks are mostly filled with them. I sent a transaction without fee and it took weeks to confirm.

Transaction fee will be given when you transfer your money or convert into other wallet. Although the transaction fee is paid, it is also increasing the fee depends on value of the money you transact. In the other words, the transaction fee is deduct to your actual money you transact. Therefore, the amount of the transaction fee will be pay depend on the percent they want to get from you to be successful confirmed.

Ofcourse it is possible, the value of fees depend on the price of bitcoin, for example if now we pay 0.0005BTC for a transaction which lets suppose is equal to $0.3 and if the price of bitcoin gets doubled from what it is now and we pay 0.0005BTC for a transaction that would cost $3 for that, so it depends on the price of bitcoin.

The total transaction fee is the total outputs minus the total inputs. The miners will be able to claim them if they mined a block. The fee you pay can vary, miners look at the fees/kb or fees/b to ensure that they earn the most transaction fees for the block. You can choose your own transaction fees, the higher it is, the higher chance that the next miner would include it into their block.

Actually it is pretty simple, if the price of bitcoins is sky high then we pay fees accordingly and the miners being paid good since the value of bitcoins is high would happily continue to mine. Problem happens when the price is low and then miners want more fees.

I think that the transaction fee should stay at $0.10 - $0.20 all the time whatever the bitcoin price will be.

If a transaction fee gets to $10 then it would be very hard to make transaction because they don't check if a transaction has a vlue of $1 or $1 million dollar, they check only the transaction size.

That's right. Eventhough the fees had increased, still sending through bitcoin is the cheapest option in my opinion. Unless there is another popular coin to use that the community will support it. It is ok to increased for me, since the mining are also doing their share. If no miners,thransaction will be delayed. I think its a good option also.

Yes, I wonder the same, I am non technical and what I know is pay at least .0002 fees at least to make sure the confirmation occurs timely. Maybe the mining is less profitable with time due to difficult increase or something .. well while I am concerned it is increasing but I am not worried since the developers will sort it :)

Let's face it, the majority of miners (we must acknowledge the few who still volunteer their hashpower to nominal fee transactions) are in it for profit.

They first have to offset their mining costs (which is still mainly a fiat cost) and then think about a percentage to take as profit for their work.

Since most networks calculate transaction fee in the cryptocurrency itself, and as a percentage of the output size, then the coin's value obviously will come into play at some point. For example, if BTC drops to $100 today, the current minimum network fees would probably barely cover costs of most miners. It's possible increasing complexity has a bigger role in pushing up coin price than we estimate.

Miners do not care about the total fees you paid for the transaction. They care about the amount you pay PER fixed size. The higher it is, the more efficient they can use the 1MB block space.

Actually, most miners rely on block rewards for their income and they do not care a whole lot about transaction fees. However, the blocks are nearly filled to the brim as of now and they can only include that much transactions. And the transactions are mostly ranked from the highest fee to the lowest fee per byte.

geez its too complicated for me too understand and i am really confusing with this but its so completed for us to know about the fee. and you need two times, maybe i will need more than two times to understand this. but thank you franky1.

Yes,this may be happen when the price reach a high value for example 10000$!

I believe it would be fair for users and miners.

And if every world start to use the coin, for sure we will make changes in the code to find a solution to keep the low fair for all.

I once tried to withdraw 1 bitcoin from Bitfinex (August, 2015) seeking to catch an arbitrage opportunity, but the transaction didn't get confirmed for two days. It had too many inputs and the fee seemed to be too low for its size as I was told later. I saw quite a few empty blocks with only a block generating transaction in them, and it looked like miners deliberately refused to include my transaction in the blocks. It was really frustrating to watch all these empty blocks appearing on the blockchain...

Though I got better exchange rate in the end since the price had changed more in my favor during those two days of waiting


If you see a lot of words, don't expect many of them to make any sense

Transaction fees has become a serious issue and for this same reason people are using wallets like xapo or directbet casino wallet because they don't charge fees. Actually this was a major reason why sites those chain based games were closed since people can not bear so much fees. Maybe that's why luckyb.it is getting less popular .. ?

keyscore indeed, the vast majority of users are still people who own less than 1 bitcoin like myself so even a transaction fee of 20k satoshi feels like a hit to me. The fact is, more and more users are choosing a wallet based on network fee rather than security or ease of use.

Imagine that web based or micro wallets are now the choice as you mentioned.

yeah that's the hassle of using chain based games,can't store the bitcoin on the account's balance therefore paying fees for every transaction,it's not going to be a problem when the value of bitcoin is just about $500 but now it's about $700 and maybe will be going to the moon
even though if we're using it for only usual transaction the fees still can be considered as normal

Possible. However, there are other possibilities. For example, the reference node has a policy of only relaying blocks that has at least 0.0001BTC/kb of fees in the past (currently 0.00005BTC/kb, adjustable) if it does not fit under the free transaction policy. If that transaction is below that fee, miners will not be able to see it and thus they won't be able to mine it.

i am sure that the transaction fee will be increase too since there are more people start to use bitcoin and the transaction itself is increase in total number in a day. and i think its fine when we see in someday the transaction fee is not the same as before.

I think it will not happen. because basically the greater the number of transactions that we send, the greater the amount of the fee we have to pay. was reasonable, because it can give us a faster time in sending bitcoin to others.

More transactions=higher transaction fees,i guess.

What will happen with the transaction fee after all the 21 million bitcoins are mined?

I though that transaction fees are reward for the btc miners.After mining stops perhars there shouldn`t

be any transaction fees exept online wallet fees,i guess.

Its Not Possible Because the Transaction Fees We Pay For a Transaction is Mainly Depends Upon the Bitcoin Network That the Bitcoin Network is Weak Or Strong....
E.g. If the Bitcoin Network is Weak then the Bitcoin Fees We Pay is High But If the Bitcoin Network is Strong Then the Fees is Not High.......

Then the price of the recommended fees will decline so that the price tag of a transaction will stay the same.

the transaction fee goes to the people who generated the bitcoin means the one that mined it and since mining bitcoin becomes more and more harder means the more Poole it is required to generated,this transaction fee is split between the number of people who generated the bitcoin so it is fixed whoever it is going up since the price of bitcoin is

Yeah it looks like soon we might be paying 1$ fees for a 10$ transaction, hehe but that been said I think the only way this can be solved is by introducing some miners. Maybe some huge mining farms can be opened which runs just at low profits and hence problem is solved.

i am thinking what will happen when block halving reward will become negligible may be after 2050 or before that. even now itself miners had quit mining  because profit dropped from 25 to 12.5 then think of 2050's situation.

This won't work since the law of diminishing returns will kick in eventually, if not already. I think that the only viable way to keep transactions at their current price level in fiat terms with Bitcoin price going exponential ("to the moon") is to keep miners profits (in Bitcoin terms) they earn through transaction fees intact. There maybe other ways to do that, but what comes to mind at once is to pack more transactions per block, so that their Bitcoin price could safely decline while keeping the grand total of transaction fees at the same level...

As far as understand it, this could be achieved by gradually increasing the block size along with the growth in Bitcoin price

That is the reality that it will closely to happen and if a transaction doesn't require fees then the miners will just stop mining. For it is not going to be profitable to them to make mining as sourrce as it is not going to be helpful for us if there is going to be an implementation that no fees are going to be ever made with our transactions.

Halving will increase the price, so in the end they will earn the same amount when they convert to fiat also they are still holding "old" coins.

Fees will depend of the adoptance of the bitcoin, in 2050 it can be dead or be with high fees.

That is a wrong statement. Before halving the exchange rates were around $230 per coin. So for every block, they were getting the equivalent of $5,750. And now, after the halving they are getting $740 per coin, for a total of $9,250. Actually their profits have increased by around 80%.

Historically that may be true, but as the reward continues to divide, I don't think that miners will continue to make the same amount. It would require the price of bitcoin to at least double every reward halving.

it all hinges on adoption. for what bitcoin aims to be, internet money, it's currently a pitiful price. if it can't rise to accommodate more people and commerce then it's gonna be abandoned in lock step with the mining. it's a self perpetuating loop either towards success or death.

But miners take and maintain fees in a manner right ?
I mean if the price of bitcoins reaches 1000$ then maybe more transactions and hence less fees ? Plus miners can take .0001 and hence have a 0.1$ easy while right now they are taking .0002 because price is a bit low. I am not sure though.

there can't be any more transactions at present. and i don't believe there are enough, or any, people with a pressing enough need to use only bitcoin to stomach paying stupid high fees. they'll switch to regular money. why would you pay a dollar or two in fees to buy something on steam when you maybe already had to pay a premium to get the bitcoin in the first place? you'd forget bitcoin and use your card or paypal.

Past performance is not indicative of future results


I don't particularly disagree with that, since it goes without saying that future adoption is what ultimately matters. Nevertheless, having said that, I still think that we are sort of insured from the necessity of doubling the price before or right after each halving. Let's assume that the price doesn't change at the next halving and halving itself doesn't get canceled. Obviously, miners will receive half as much revenue, and some of them may start leaving while others will continue mining since they all have different profit margins. But once some miners leave, the mining difficulty will decrease eventually, and the remaining miners will share the bitcoins that otherwise would be given to those who had left...

The inference is that, no matter how low the price might fall, mining will always be profitable in the long run

as the exchange have their own monaply to impose transaction rate according to their own wishes i think there should be a proper mechanism for imposing transaction rate, as it is really effecting the image of bitcoin also,

i dont see anypoing to worry about. 19k satoshi is the recommended miner fees for every transaction but i pay only 4.5k satoshi for each transaction since i use wallets with 0confirmations so i do not need to worry about anything.

Transaction fees are being distributed to the miners ,which is always and distributed between them at last it been sold by a person .this is how the chain goes on ur plz quote me if i am wrong.