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Title: Cost per transaction above 120USD - and increasing Post by: freightjoe on December 21, 2017, 07:56:54 AM Look at the statistics for transaction costs pocketed by the miners - it is increasing exponentially and is now more than 120USD per transaction.
For smaller investors this will end up locking you so realistically you cannot take home the profit of your investment - the miner will take it all. https://blockchain.info/charts/cost-per-transaction GTHO (Get The Hell Out) Title: Re: Cost per transaction above 120USD - and increasing Post by: thesavoyard on December 21, 2017, 08:00:34 AM Yeah, it's insane, go to a crypto that will scale to an unlimited level. Personally, I see a much brighter future in Dash as a currency. If Satoshi kicks the corrupt core team out then BTC may have a chance.
Title: Re: Cost per transaction above 120USD - and increasing Post by: FiiNALiZE on December 22, 2017, 11:52:12 PM Look at the statistics for transaction costs pocketed by the miners - it is increasing exponentially and is now more than 120USD per transaction. Don't use Bitcoin to send transactions for products that don't need it. Bitcoin is better to use when there is a lot of people holding the coin.For smaller investors this will end up locking you so realistically you cannot take home the profit of your investment - the miner will take it all. https://blockchain.info/charts/cost-per-transaction GTHO (Get The Hell Out) Title: Re: Cost per transaction above 120USD - and increasing Post by: PeRo on December 23, 2017, 12:01:50 AM Yeah, this is some huge crap.. I have a small amount but it is locked away, I cant spend it or get cash or anything! I could only use it with a small fee and the transaction would be confirmed in about a week if I do that. I can only hope this will be fixed soon. I do not want a valuable coin which I can't use, it is ridicolous.
Title: Re: Cost per transaction above 120USD - and increasing Post by: emuLOAD on December 23, 2017, 12:05:34 AM If price goes up, fees go up. Bitcoin has very low fees... if you're sending massive transactions.
If its no longer fit for small sums, then so be it. There are plenty of alternatives. There is no real need for BTC to support tiny transactions, even without that it has a place and value. (much like, say, gold does IRL). Title: Re: Cost per transaction above 120USD - and increasing Post by: fenican on December 23, 2017, 12:08:43 AM The fees are still really small in Bitcoin. The problem is that fiat currency has crashed relative to it so your fiat has, right now, little or no BTC buying power. To move 100 BTC around, which was about $100 back in 2010, still costs just .002 or so BTC which is a really small fraction. But if you're sending .01 it's a massive tax.
Title: Re: Cost per transaction above 120USD - and increasing Post by: sabine80 on December 23, 2017, 01:22:10 AM its really to much. bitcoin must fix this issue asap. it make no sense to pay so much for a transaction.
Title: Re: Cost per transaction above 120USD - and increasing Post by: Prem.Soorajpaul on December 23, 2017, 01:36:24 AM I can't understand the logic behind bitcoin is going up and transaction rate also going up. They should fix it as more bitcoin popularity means more volumes and more transaction, obviously they will get more commission.
Title: Re: Cost per transaction above 120USD - and increasing Post by: sucix on December 23, 2017, 01:39:45 AM Look at the statistics for transaction costs pocketed by the miners - it is increasing exponentially and is now more than 120USD per transaction. For smaller investors this will end up locking you so realistically you cannot take home the profit of your investment - the miner will take it all. https://blockchain.info/charts/cost-per-transaction GTHO (Get The Hell Out) What? Is it really $120 per transaction? It was arround $12 till 20 before. Maybe you send big amount so fee is $120. But if its happen, i think small bitcoiners like me will just loss money. Title: Re: Cost per transaction above 120USD - and increasing Post by: ldah94 on December 23, 2017, 09:57:27 AM what small buyers will do is just invest and not use bitcoin as a means of payment until these high fees are solved, although with the great decrease in btc their prices in fees also decrease
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