Bitcoin Forum

I support Bitcoin but cannot see it being widely adopted when paying a $10 fee for a $15 transaction. Maybe if the fee is $0.15 for a $15 transaction, but will that happen?

I think the transaction fee will decrease in coming days as the number of unconfirmed transactions are decreasing. Now at the time of posting,  there are 88000 unconfirmed transactions. There were about 150000 unconfirmed transactions 2 days ago. But I don't expect the fee decrease to 0.15 dollar unless you wait a long time till your transaction to be confirmed. With the current price of Bitcoin 0.15 dollar  is equivalent to 2000 satoshi.

Fees will go up over time so that fewer and fewer people will use it. This is by design

I don’t know if the fees will drop unless there is some kind of fix for it. I have heard that the Bitcoin foundation has ideas for adding on to Bitcoin to address fees and slow transaction times. If they can’t do something to address it, this could inhibit Bitcoin. It may never be anything more than a store of value as we are seeing new altcoins that are tackling this issue. Those altcoins could rise in the market cap as they address needs that Bitcoin can’t.

This is completely irrelevant.  Bitcoin fees are nothing to do with the amount you send in fiat value nor in BTC value.

All that matters is the space your transaction will be taking up in the blockchain in bytes, and the fee that miners (in most cases, mining pools) are willing to accept to allow your transaction to take up that space in the blockchain.  If you want to set a lower fee, you can.  You just have to be aware of how long it's likely for miners to take before including your transactions.
In the past when the blocks were near-empty, most people would send their transactions without including a fee.  Now it really depends on the market to come to an appropriate fee considering the demand for block space.

If the block space increases (for example if more people begin using SegWit), the fees that you would pay would decrease.

We have seen the bitcoin fees rise and the only way this can fall is when the price for mining and paying for gas drops. it is possible that with new developments in GPUs and ASICs it may be so.

This was written years prior to SegWit and the "Cash" and "Gold" forks.

The open question is: "Did SegWit increase on-chain capacity enough to maintain its availability to the average user?"

My guess is no, but time will tell.

The current situation is not normal at all. Someone is spamming the network with "worthless" transactions. {possibly to

push the agenda that Bitcoin Cash is much better as a payment option} This has caused a "backlog" in the Mempool with

tx's piling up. They combined this attack with a shifting of loads of hashing power to Bitcoin Cash. This will continue until they

reached their goal or until the Bitcoin Core team implements the Lightning Network to counter it.  ;)

707sat/byte is ridiculous! $15 is now too small to send.

You are mistaken.

Lightning is NOT part of Bitcoin Core, and the Bitcoin Core team is not working on the Lightning Network.

While there are some developers on the Bitcoin Core team that also participate on various Lightning development teams, that does not make Lightning a Bitcoin Core project (or vice-versa).

Everything takes time my friend.Currently we only have segwit.LN  will come in near future then fees will surely drop.Moreover as we know bitcoin core team is the best and will also bring more features to improve bitcoin protocol and community may consider them :)

Probably yes. Because of the number of unconfirmed transactions that happened last days. But no need to worry pf course we all know that this is just temporary and as always its value will increase again.

I expected that increasing the block size to solve the problem with the speed of transaction confirmation and will be able to reduce prices for smaller transactions. But as we know this did not happen. I hope that the miners showed what they can do and now the developers can use this experience to minimize risks during the transition to larger block sizes. What to do I have no doubt.

Just remember that Bitcoin fees is always dependent upon the network congestion and the total number of transactions waiting in the mempool to be mined. Currently with the the seemingly increasing uncertainty, it is looking like the fees for an average transaction to be included within the next 10 blocks would be high given that the fee is over 100k satoshis which is quite a lot for smaller transactions. Will take quite some time for the network to ease up and then the miner fee might go lower.

i think its not because theres no reason why go down fees so its never go down

Right now we can't expect the transaction fee to go down, because large number of transactions were found unconfirmed. Even after paying higher than the normal fee, the transactions were not getting confirmed in a short. It's good to stay active and allow for confirmations to take place on its own without any accelerator usage.

You are right Lightning network isnt really part of the plan specially on bitcoin development and as being said they might be involved into another project but they wont really implement this thing to bitcoin.I do really feel the problem on bitcoin transfer fees which it is really high specially if the network is congested. If you do make micro transaction then it will really hurt you a lot. Talking about dropping $0.15 fee for now is impossible.

I am also curious why Bitcoin charged too much fees. But I thought Bitcoin lovers still with Bitcoin. And I hope after completing all segwit ,the fees is go down. Let's see

Bitcoin prices is change every day. So bitcoin is down next time it will increases. So don't thing about it. Bitcoin is  a future currency. So it become increase future. If need to for the information check the market place. Some tips you will get from market place.  Bitcoin is not affect other currency. So it will good to use for the future growth.

I think BTC transaction fees are depending on two factors :
   1/ BTC price : fees are fixed regarding to price ( when the price goes up , fees go down "but remain proportional to the price".
   2/ The exchange platform/wallet you use ( for me I use freebitcoin as my saving wallet , it takes fees according to the time of transaction ) .
So I think we can't say if these fees will go down or not unless we refer to BTC price

Since core developers don't want bigger blocksize to be implemented, some people have started to sent spam transactions to the network, and I've seen total fees over BTC2500 for 197K unconfirmed transactions, that's crazy I thought. Since Bcash price rise up significantly, some hashrate switch to mine bch which makes bitcoin transactions slowing down and we have to pay higher fees to push it be confirmed faster. If bitcoin scale solution "lightning network" will be implemented in few months later, hopefully we can pay low fees.