Bitcoin Forum

Bitcoin is about 10 years old now, little more.
Question is, Is Bitcoin still usable after 10 years of creation ?

I remember when i was using Bitcoin in 2014, i was paying very low fees when 1 bitcoin was less than $500.
I was feeling it's great, It was fast, and i don't remember i was paying fees. Bitcoin was for me better than fiat money.

Now and after few years, i feel Bitcoin transaction becomes very costly, sometimes i wait hours for confirmation when i try to reduce fees.

I work online on Ad networks, usually i withdraw my balance when i reach $100.
recently, i notice that i'm paying $5 and sometimes more, sometimes it pass $8 fees on transaction. I don't remember i was worrying about tx fees before when i started to use Bitcoin. Now things are more difficult and costly.

Is Bitcoin changed? or only i feel that?
Now it's costly to use in normal days, sometimes goes slow when i lower fees, i try to find for alternative but i worry to invest on altcoins because i don't want my money to lose value by the time.

Is Bitcoin still usable for payments less than $100 ? i think not even for less than $500. i mean daily uses.
I feel paying $8 of $100 for fees, is like someone is sharing me with profits. i work hard to collect $100 then i throw $8 in that easily.

Should we ask for update on Bitcoin to make it little more faster, and cheaper to use ?
I don't mean super fast, and super cheap, just to be like it was before..

That's the downside of Bitcoin for the past years. When the network is clogged with a lot of pending transactions you really need to increase your fee or else it might take a longer time for your transaction to be broadcast and confirmed. If you are not in a hurry then you don't mind paying the minimal fee and wait until it is processed. But if your transaction cannot take a lot of waiting time, you will be forced to pay high fees. That makes transactions of Bitcoin good only when involving large amounts. I hope the future will be better to boost adoption.

waiting time is still fine for me, but paying high fees and wait long this gonna be crazy :-\
before maybe we was waiting, but fees was very little as i remember.. now fees could be %10 of your amount. it's really too much.

With about 7 TPS, it's clear that Bitcoin has a scalability issue that has linger over the last couple of years. But over the years, there have been several community proposals to mitigate this problem. One of such proposals is lightening networks which hasn't really being widely adopted across the network yet.

You can still make bitcoin transactions with less than $1 in fees. The problem here is that, if you're spending bitcoin from an exchange or any platform, they tend to set a fixed fee for their users just so they can process withdrawals at a faster pace and no backlog of pending transactions . I believe that's the issue you're having. There's a lot more flexibility if you do these transactions from your personal Bitcoin wallet. You get the options to pick a fee that you want. However, low fees also means longer confirmation times that made extend from 24hours up to 48 hours.

This has been the unfortunate part of bitcoin for the last couple years.  Keep in mind in 2014 there were a heck of a lot less people transacting with bitcoin, so the blockchain was much less bogged down.  I think any blockchain out there would have handled it relatively the same way.  I'm not sure how much SegWit did or will continue to help, but I do have hope for the lightning network.

That's not nice to hear. If that happens then you would have to set aside Bitcoin transactions for larger amounts and those which are cross-border. Segwit has been implemented but it seems we are still hearing the same complaints over the years ever since the update. Right now we can only wait for the larger adoption and faster momentum of the lightning network. Is it all right for you to do transactions off chain?

This is because bitcoin’s value in $ has gone up significantly over the years. Had the price stayed down below $1000 levels until now, everyone will be ‘enjoying’ the low prices of fees in $. However things does not work that way, unfortunately. As more and more people became interested in bitcoin, more and more began speculating its prices, thus sending us into where we are right now. Going back to the fees, it is completely relative IMO. I measure my transactions in satoshis per byte, although I understand that a lot more people are still comfortable in using the $ per tx metric as it is more comprehensible and easier to understand. If you can avoid using bitcoin on small transactions, it will be better and economical. Or if you can wait a few hours for your payment, you can always try to lower down the fee on your transaction and wait. In sat/byte terms, there’s not much difference when it comes to that, although at times the network really is clogged due to transactions being processed and sent simultaneously at a given point in time.

A Bitcoin wallet that has supported Lightning Network and using a wallet that supported with SegWit transaction for having a less fee is far better as of now when it comes to having less transaction fee.  Because there are custodial wallets that have a fixed fee that you can't able to modify your transaction fee and set into lower fees.  Remember that lower fees might also longer time to wait, sometimes waiting is the best thing to do.  If your transaction isn't urgent, choose lower fees, but if that is urgent it should be good if you follow the required fees by the miners depend on the network congestion.

You can also avoid transaction fees when the Bitcoin network isn't busy or congested, through the help of Johoe's Bitcoin Mempool Statistics (https://jochen-hoenicke.de/queue/#0,2w), you will be able to calculate your transaction fee and the time to be confirmed.

Bitcoin is a decentralized currency which everybody is seeing as a currency will be rate as the best currency in the world. The year 2014 many people find it difficult to understand bitcoin the way they understood it now. Many thought in 2017 bitcoin will not last more than two years before it will fall totally in the world. Bitcoin is still improving taking over many currencies during the pandemic which still have a large population in different countries of the world. Many where still thinking bitcoin will fall some few months ago Which people are see bitcoin going higher and other cryptocurrencies are reducing in the market. I think more benefit are still coming for their users that still believe that bitcoin can only change positively.

Always take note that fees are priced specifically in sats, and not in USD. And comparing bitcoin's(and sats') price when it was less than $500 compared to know where it's upwards of $13k, then obviously the fees would be higher in USD because the price increased.

And yes, at times of heavy price movements fees(in sats) tend to go up due to mempool congestion. Yes, this is a problem, but developers are working on solutions to make user experience better.

bitcoin age is getting closer to 12 years now :D

and of course bitcoin has changed. it has gotten so much better. the nodes are a lot more efficient and they have a lot less bugs and exploits both in the implementation and the protocol. the mining is also a lot more efficient and has made the network outstandingly secure.

bitcoin never promised to have ultra cheap or free transactions. although i am not a fan of high fees either. bitcoin was always meant to give financial freedom by decentralizing money.

That's a disadvantage of bitcoin, I know. They're working on lightning network that promises immediate transactions, but I don't see that happening soon. I don't know about you, but with 10 satoshis per byte, the transaction gets confirmed pretty quickly. I spend about 3-5 cents on my transactions mainly because I don't care when it'll be confirmed. But on online payments, you can't wait 8-12 hours to make a purchase. I think with 10-15 sats/byte (which is about 20 cents) you'll get it confirmed within an hour. Of course, there are exceptions (https://cse.google.com/cse?cx=016660200577587308545%3Aesf40ml9aag&ie=UTF-8&q=stuck+on+mempool&sa=Google+search#gsc.tab=0&gsc.q=stuck%20on%20mempool&gsc.page=1) too.

I don't understand why you spend $8 on a single transaction. I think you're using an online wallet. Check this (https://electrum.org) wallet. It is not like bitcoin.com (if you use that). You choose your fee. I mentioned it, because I've seen that bitcoin.com charges high fees so you can instantly get your transaction confirmed, which is in my opinion dumb.

the thing that have change is its price , fees , and speed . fees wont became high and speed wont became slow if not because of the increase of the price  . increase of the price is also cause by the increase in adoption . nothing have change on the use of btc tho but it was only became easier to use btc now because the support are now more wider than before.

 you dont want to pay high fees but you have done a good job of reducing the fee but waiting more longer , why complain ?

Lightning is working already, we're all using it.

Instant transactions, less than 1 satoshi in fees 8)

Breez[1] and Phoenix[2] wallets have been working freakin great to the point that the UX is really close to Bitcoin mainchain transactions. What we lack is merchant acceptance unfortunately, because there's little reason for casual bitcoiners to use lightning if the places they can use LN is really limited.

---

[1] https://breez.technology/
[2] https://phoenix.acinq.co/

Well, it's a price to pay together with how much BTC is right now. The price is literally many times different from when you used it to now, so it's natural for fees to change as well. The issue with speed is currently being addressed, as a result of that, we've seen the development of the Lightning network, though afaik it's still in its infancy and still can't really be used or adopted fully. As for the fee issues, I'm not particularly sure if there's a solution for that, but if the lightning network were to come true, then fees wouldn't really be an issue. \

Also as a personal solution to your problem, you can try increasing the amount before withdrawing, let's say $500 or so. Up to you tbh, but that sounds much cheaper since you'd normally pay $5-$8 per transaction.

I don't think Bitcoin has changed but it's just that now it's facing the real challenges and issues of mass adoption. It's obvious if we want mass adoption there are going to be some challenges tell me one software/hardware which got it's best version in 1.0. it's about facing challenges and improving. I think if we get Lightning Network it might solve out these scaling problems upto some extent. But yes if fees increases too much then after some extent BTC will not remain much lucrative for people doing transactions. As of now I think if we compare it with other methods of cross border payments it's still cheaper but compared to methods of in country payment it's way expensive.

Bitcoin were definitely evolved from the starting point up to now. A lot of us has observed it and one of it was the exchange fee of altcoins were get higher than before fees. But despite of this, it is amazing to think that some of the evolution of bitcoin was for its good. Bitcoin were already proved the project worth and now become a known digital currency. Though it is decentralised but hopefully this may bring to us a financial freedom.

Higher transaction fees will surely be always present when you make bitcoin transactions and it is not new to us even if we do it for the next upcoming years.

We need to accept the fact that bitcoin is pain in the ass when we make transactions with it when there's a lot in a queue.

Probably in 10 years, bitcoin will become much more wider due to a progressive adoption in that span of years. We just need to be optimistic about it and aim for a gold and success. Also, patience in transaction is necessary and be disciplined investor.

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I am hoping for the same.
Been using Bitcoin also before with every transaction.
But because of the traffic and high tx fee, I need to stretch my options into using other cryptocurrencies.
The last time was Ethereum and then heavy traffic came again with DeFi coming in.
Now I am using XRP.

Trying to be optimistic about these events. That just means there are more using technology than before which I think is a good thing.

If we check bitcoin price, marketcap and relate it with the latest news, we will not have to think twice before thinking correctly that bitcoin is a deflationary currency with its adoption increasing which makes it to be a coin that will benefit its holders.

You are right about the bitcoin fee which is very high, but not the transaction fee is the problem, it is the scalability, in such a way that time and fee are both the factors to be considered, I still make a transaction of bitcoin with a fee as low as $0.2, this is low enough, but it takes like 3 or more hours before such transaction will be confirmed.

maybe we was paying higher fees in Bitcoin, but in Dollar it was much lower when Bitcoin price was ~$500

i mean when i was withdrawing $100 in bitcoin which was ~0.2 BTC, fees was 0.001 BTC (high) but in Dollar it was only $0.5
now for $100 i'm paying $5 or more fees. it's x10 higher than before.

that's why i think Bitcoin is no longer usable for small payments. now Bitcoin price high so it's good for big amounts only.

problem is i can't set fees from the site i use when i ask for withdraw payment  :-\

use Lightning

If you are way too annoyed by the Bitcoin transaction fees and confirmation time,then good luck with finding a better fiat or crypto alternative(there are cheaper and faster ones,but they aren't so popular).
Unfortunately Bitcoin is more like a "digital gold" asset now,than it used to be back in 2014.
The BTC blockchain and the fiat payment processors kinda have the same problem.When more people join the system,transaction fees usually go up.Fiat payment processors don't have a problem with confirmation time,but their transaction fees will never go down.

From my views it depends on bitcoin marketcap because the value of bitcoin or price of bitcoin in previous years remain constant to the next year therefore the values can't change and it remain until the market determine, but the process we're by the values is in rotations after ten or twenty years, the values will keep on increasing and their will be a surplus benefit from user, but the values does not increase based on total numbers of years it's based on marketcap.

Patience in transaction is not about investment. It is about Bitcoin as it should be, a currency. So a delay is more or less acceptable if you are only moving Bitcoin as an investment but not if you are moving Bitcoin as a currency like when you are selling some stuff or service for Bitcoin or purchasing something with it.

It is really a pain in the ass but I am still hopeful that it will be highly improved with the adoption of the lightning network. I am also hopeful that when the network gets a lot busier in the years to come due to a lot of people using Bitcoin, there will be a corresponding development that would address this problem.

There is LN (Lightning Network) that let's you process faster with very low transaction fee, but It hasn't been widely used.
Scalability issues in Bitcoin network has always been the problem, and of course Bitcoin is still the same Bitcoin you knew before, the only things that's changed is the price and number of adoption ,the reason why you had have longer waiting time for a transaction to be confirmed and higher transaction fees.

No doubt that Bitcoin has improve and still improving which in a short time from now things that seem abnormal will be attend to, but, for the transaction fees in this regard, Bitcoin can't control exchanges fees but for blockchain it's due to Bitcoin price that determine the fees at any point in time. The beauty about this is, LN has something good to that effect and you can have a look at  them.

Yes I also learned Bitcoin back 2014 and some employers who automate their fees to their employees that will send BTC every hour and they didn't count the fees during that time. Now 2020, fees like $8 is unbearable. Its hurting employers already, this could be a reason for employers not to pay in BTC instead.

LN is an option or they could ask whether their employees will accept altcoins like XRP or some other coins. ETH's gas is also increasing.

Maybe yes or maybe not for me it will remain the same bitcoin is still the same after 10 years they are giving the same opportunities to whom who need it and they still give you a life opportunities to poeple who want to know bitcoin more.

From my perspective, Bitcoin market is become more reliable than anytime before. In its 10-year history, this is the longest time Bitcoin has spent over the desired $10k mark. It's presently additionally encouraging, and I think something significant is coming. Stop complaining at its lows and stay focus.

this is my recent withdraw today :
https://i.ibb.co/G53gPd5/fees.jpg

few years ago i wasn't worry about fees, because amount in Bitcoin was higher (~0.2 btc = $100).
today i paid $18 fees for about $100 withdraw. this is very annoying for me  :-\

i know fees now are high, but recently lowest fees i'm paying is $5 which is still high for me.

should i wait my balance to reach $500 or $1000 before withdraw if i want to continue using Bitcoin?

maybe we should start accepting Litecoin ? but we should see it approved on more companies before we accept it.
is there any hopes Bitcoin fees will back to $0.5 ?

Yeah I missed those old good times when fee was so low and the transaction isn't slow.
Now that the price of Bitcoin is so high so does their transaction fee and not to mention the transaction nowadays are slower compare to how it used to be in it's early stages or is it just me who feels that way.
And it is so easy to accumulate 1 Bitcoin back then because it was so cheap compare to it's current price.

Indeed Bitcoin has changed now compared to 2014, because now more and more people are making transactions with Bitcoin, of course
Bitcoin fees are getting more expensive. Because nothing is perfect, including Bitcoin has a number of weaknesses, one of which is the
transaction costs become increasingly expensive. Same with Ethereum, where transaction fees have become expensive since DeFi projects
became a trend. So now some wallets already support Lightning Network and SegWit to make Bitcoin transactions cheaper and faster,
but it seems the implementation is still not maximal. We should just be patient for a while, I hope that in the near future there will be other
solutions that can make Bitcoin transactions cheaper and faster.

In my own opinion after 10 years, the lightning network may already be live and running that would give us an experience in faster and cheaper transactions. And I have concern as well, which is the development of quantum computers that might affect the entire blockchain network and can possibly mine all of Bitcoin’s supply of 21 million. That’s just my opinion of course.

The lightning network is already in operation right now so you don't have to wait for 10 long years before it will go live and running. And even if it isn't, 10 years is too long for such a development to take. There are already a number of wallets which offer lightning network compatibility. That means faster and cheaper transactions are already being featured but off-chain.

The worries of quantum computers have already been addressed a number of times. And the common ground is that it should not be treated as the end of the world for crypto.

Same benefits. Different in value when you compare it's price this current year and the next 10 years.
The function of bitcoin is still the same ofcourse, decentralized, meaning their is no need for any middleman because it is peer-to-peer, just like BitTorrent.
The only thing that would change is it's value, bitcoin is not stable, it's volatility causes it's value to went to change overtime.
All of these are just pre assumptions, the fact is there is no thing that is certain, the only thing that certain in this world is change.

Bitcoin has been in this market for 11 years. Of course, we have seen many changes. For example they worked hard to build Lightning Network to provide people way better transaction speed. The thing doesn't change in Bitcoin is its system as you guess. It will be the same forever.

Bitcoin will surely change in the future. The outcome can either be super beneficial to the current users or it will be beneficial to all since there are already a lot of differences that is occurring with people that has knowledge regarding Cryptocurrencies and people without knowledge of it. As long as people are gonna support it without abusing it, it will surely be a profitable invention that might change the whole payment system. Its currently being integrated into Paypal and its only a matter of time before people start learning where to gain Bitcoin.

Basically, bitcoin hasn't changed much in the past 10 years, except for the difficulty of mining and the rising costs, it's still the same as bitcoin 10 years ago.
Rising transaction costs will cause people to limit deposits in bitcoin to a different currency, hoping that in the future bitcoin will solve this problem.

You've got a Great point here. TBH, In as much as I do cherish bitcoin, I do not like using it because of the expensive fee attached. I remember the last time I sent bitcoin, the transaction fee was not worth smiling at. Now it's more disappointing to see that the fee has rather multiplied. Maybe because of too many transactions to verify, maybe not. But, it'll be of great advantage if this fee can be well-reduced, or if possible, pegged at a particular price.

If bitcoin can't solve the problem of fees and transaction speed, I think it's very hard to be a currency.
You can't pay a $ 5 fee for an item worth $ 2, and because of the delays, if something goes wrong you may have to wait hours to solve it.

I am one of those who believe that the benefits provided by Bitcoin are increasing, therefore the demand for Bitcoin is increasing.
Even platforms as large as Paypal have started accepting Bitcoin, this is a good step to make Bitcoin more accepted by all parties.
Although there are several obstacles that Bitcoin has, a solution must be found immediately. Such as high transaction fees, decreased
transaction speed and increased mining difficulty. If these Bitcoin obstacles can be resolved properly, Bitcoin will change for the better,
and can be accepted as a currency all over the world.

In the past it was great and we never cared about the transaction fees as the price was not high and small transactions that cost $50 at the present valuation were considered dust and from that stage the vision has changed a bit from currency to store of value and i used to boast about bitcoin being a decentralized currency that would change everything but i am not loosing my hope as there are many updates that are expected in the near future and i hope we will sort these issues in the future.

Times has changed, and the bitcoin price is higher than it was in 2014.
We had enjoyed low fees but the adoption at that time was small as compared to what bitcoin has achieved these days.
For me, the benefits increased as more merchants are now acknowledging the crypto payment.
And also, look at the number of crypto exchanges, whether global or local presence, the numbers increased.
And with the inclusion of crypto in PayPal, it will aid in further increase of crypto adoption.
And so with other companies that will follow this move.

Yep, I feel the same, the fees are getting more costly. It is a bit different from the expectation of Satoshi written on the introduction of Bitcoin whitepaper. There is an implicit goal of lowering transaction fees by removing third parties there (compared to transactions done by banks). But indeed it is once the Bitcoin can achieve the goal of being a global currency. While today, Bitcoin is mostly used as a digital asset, so it is not in ideal condition dreamed by Satoshi. In this matter, we must accept if it doesn't fulfill the expectation for a low transaction fee. Just look forward to the next change in Bitcoin, maybe someday we can have the ideal condition for it. Remember that it is growing, there should be the next changes in the future.

Its true that the fees of bitcoin are very high right now compared to what they used to be at that time and the difference is because bitcoin price now is hitting the roof and every one now  is either buying or trading bitcoin so there is so much pressure on the blockchain network.

Now you can use them more than 5 years ago, and 1 2020 btc = x30 2015 btc, so who cares if it's more expensive now?

Those are two big hindrances in reality. While Bitcoin is really appreciated as it is an amazing technology which the people would definitely prefer over the centralized fiat, the downsides are enough for it to not move forward as it should be. I think if Bitcoin does not have such problems, it must have been already more accepted as payment form. But of course there's also the fact that it is having a hard time pleasing those people holding the most powerful positions in the government. 

That is one bottleneck to surpass by bitcoin. So the development of Lightning Network should really push thru as it will address the tx fee problem. Or use other alts like doge/xrp as part of the payment method. Because right now, btc is really not a friendly crypto to pay for things.

It badly needs to. Until then, Bitcoin is just a preferred store of value or asset or a cryptocurrency best only in terms of large transactions. I agree that this is one point which makes some altcoins useful. I am not really a hard fan or hater of altcoins. In fact, I own a few of them because I believe they are contributing to the overall development of cryptocurrency and they have a role to serve such as a cheaper and faster alternative to Bitcoin. For as long as Bitcoin remains imperfect, having an alternative is always better than not having at all.

Good to hear that you are using Bitcoin when this was below 500$ but what happens in between?why stopped using this and now asking relative question that you can answer if you don't stop.
6 years passed mate and you expect low fees still?remember that everything in this world increases in value same as the fees of course.
it is fast if you pay for correct fee,and besides you have options mate using other cheaper altcoins if you cannot go with bitcoin progress.

btc were said created on 2008 . You compare btc when it was 5years ago or on 2015 , that was 7 years later from 2008 and that's long enough for btc to be known and btc was actually starting to get popular that time but another 5years have passed and we are now on this current date 2020 and the markets for btc got even much better . So you are correct

You mean the price of 1btc now times 30 than its price on the year 2015 . According to my research it shows that price of btc on year 2015 was $395–$504,  that was early November [ credits to google and wiki for that data ] . Your calculations could be right . The price will play at that range  . Who you think won't care for the current price of btc but even if btc fell down people will still care

A few user above me has mentioned that you may need to try another way to send your bitcoin especially through lightning network and using segwit address it is very low to pay the fees. I've done it several times and I don't have any problem when using it, yeah although there is some issues about lightning network but I'm still loving it.

As for using altcoin, as long as you use it for sending your money I think it is really safe. Because there is some altcoin who just need a low cost for fees transaction like XRP or TRX because after that when you accept the altcoin in your another wallet you will sell them right? So it doesn't matter when you using it.

I don’t really know about that, but which wallet are you using? Because the last time I did a transaction of over $200, which is more than the $100 threshold of yours, I didn’t pay up to the $5 you mentioned not to talk of the $8 for the sending fees.

The only problem I have had is with the waiting time, but with some of the wallets I have, like Blockchain and BitPay, I am able to spend unconfirmed funds (for my BitPay wallet I had to go to the settings and activate it, while for Blockchain the funds appear immediately and I am able to spend them.).

As long as there are Internet and users Bitcoin will never lost its value.
Because there are only few people that have the knowledge about the power and potential of Bitcoin so others won't mendle on it. Due to the unpopularity of Bitcoin that time the price is not that high due to the facts that it has less demand and are more on supply.
Because there are numerous transaction happened world wide so the system can't handle these overload of pending transaction so they choose to raised the fees in order to lessen the transaction happens from time to time.
It's because there's no stability on the market on crpto world.
All crypto currencies had changed drastically these few years and these changes will still happens in the future.
It's sad to say that we can't do anything about it.
It's depends on the market and on the one that have a better control on the market

Bitcoin is appreciated by everyone because it is a pioneer of the cryptocurrency market, but now people come to bitcoin to invest and make a profit.

Bitcoin is a decentralized currency, so governments don't like it. In the future, even though bitcoin improves its speed and transaction fees, it will also be difficult for bitcoin to gain support from the government.

Bitcoin is now mainly used for hedging and increasing wealth, in other words like a speculative asset, not so often to make day-to-day payments. We do have the Lightning network through which AFAIK the fees are minimal and tx speed is pretty much instant. I'm sure the congestion problems will be solved in some way eventually.

Bitcoin has been living with the issue of scalability which might live with it forever. Remember, Bitcoin has never promised it inhabitant of free transaction, so, the price of Bitcoin back in 2014 compare to 2020 should create the awareness of seeing different transaction among the mentioned years. As the value of Bitcoin keep increasing, then we should be expecting a higher transaction fee in the future and not less fee base on what we have today. The Lightning Network has made this problem solvable as it transactions are small compare to our normal pay fees while use Bitcoin in other platforms.

Everything changes and so does Bitcoin. It is now different that when it was worth $500 of course. You feel that transactions became expensive because you measure them in usd.
IF your AD network OP paid you 0.1 BTC a month and you had to pay 0.001 BTC to send that transaction, it should be the same now, but it isn't. I'm sure when your employers saw that bitcoin increased in value 10x, they begun to pay you less and now you feel like you have to pay higher fee, but the fee is the same! You are earning less coins, so you feel like you have to pay more to process the transaction, but it's still that good old 0.001 BTC.

this is what changed actually.

few years ago i was buying PS4 games using Bitcoin. now i can't because of high fees.
recently i'm using Litecoin to buy PS4 games, and started to approve Litecoin on my sites which has cheap products, i don't mean Litecoin is better than Bitcoin, but for small purchases i see Litecoin is good currency.

if talking about changes in bitcoin, maybe bitcoin is still the same but the discussion here is the high cost of bitcoin transactions,
this will be difficult if Bitcoin is used as a means of payment,
if this continues maybe Bitcoin will only be an investment tool,
but if transactions are fast and low fees are not impossible Bitcoin will become a means of payment,

Yes, it has changed and that many had adapted and do like bitcoin. Bitcoin for me is more like an asset like gold but it could also act as a digital currency all in one kind of thing bitcoin that bitcoin brings. Now, many people are using bitcoin and that explain the current market to it which surpassess 13K the biggest run so far in this year 2020. Not only that I can sense that bitcoin market price is still counting and that can probably broke another record for ATH that had happen way back on 2017.

Yeah, it has changed a lot. Especially the use cases. Back then the network wasn't under heavy load. The prices of bitcoin was low. The fee was also very low. Like just few cents. It could be easily used as a regular currency. You could make a payment and get your network confirmation with an average time of 10 minutes. But right now that is almost impossible. You will have to pay high fees or wait for hours when the network is underload.
Right now people uses bitcoin as a store of value. Though bitcoin still has the same benefits.

It's hard to count chickens when they are still eggs but if Bitcoin after 10 years still didn't reach its peak of pyramid (price limit) then I guess it's safe to assume that it's still usable and would give us 10x profits of what we're getting as of now.


There's nothing wrong about transaction fee in my opinion, of course it's just a simple demand and supply thing. The higher the price bitcoin will be, the highest transaction fee we'll pay with the most fastest transaction we could have. If I'm not mistaken, you could simply choose what transaction you'll be having, either with a mid range fee or high range fee, depends on how you urgently needed your money.

But just like what you have said, it's not necessarily recommended to use Bitcoin under a $100 transaction since you're worried wasting the transaction fee. Nonetheless, there's still a lot of cryptocurrencies out there in which requires only cheapest transaction fee like XRP.

The changes are obvious and can be seen by all, bitcoin was built to conquer the finance Industry by been the go to currency for transparency and speed but it's begining to lose that tagged to other alternative currency coming into the space. It's very disappointing that the fees are discouraging users from engaging the bitcoin blockchain which is something the industry was not known for few years back.

What benefits are we to get from using bitcoin if we're been charged outrageously just as we were taxed with the fiat system.


What's the usability based on? Irrespective of the high fees people are still willing to support the bitcoin blockchain which goes to show the believe and hope people have in the system.

To me, bitcoin is still useful. I cant find a better place to put my money in which is both safe and profitable. As far as I am concerned, bitcoin has changed a lot since it was created. First, its main purposes has been deteriorated. Satoshi wants people to see bitcoin as a currency. Right now, most of the people consider bitcoin as a safe, profitable haven, including me. However, I dont feel bad about it. At least bitcoin is recognized by the people and it does bring benefits to us

Moreover, it has made a revolution in digital currency, which creates many different altcoins which millions of shapes. Well, when gold was first found by human, it was believed to be a currency for trade. Right now, it is the most valuable asset. So, becoming an investing asset is not a bad idea though

In recent days bitcoin growth is like what we are expected while the price drops so this involved lots of different kinds of transaction people uses it for their urgent needs so they are paying higher fees for their transaction but still lots of people makes transaction for less amount of fees for transacting bitcoin.

I would say the benefits have increased from the reasons already listed, but decreased since its now quite costly to use and slower due to network congestion.

For some reason the lightning network hasn't been widely used as of now. I'm not sure but some says that LN was flawed, I don't know about it but thats what I've heard.
Actually, Bitcoin's scalability has always been the issue since, It didn't actually changed, but the fact that we have progress like the LN will give us hope in the future that this problem will be resolved.

The answer to your question is very simple from my perspective, we get to know that the higher bitcoin the higher the charges and lower a btc the lower the charges, the benefit of bitcoin annually does not remain constant because of it's regulations in price because it's change's in price, the change's of it's price after 10 years just after the benefit just because of it's market liquidity or marketcap of bitcoin.

Change is very inevitable and anything that is existing in this world undergoes certain changes. Comparing 2014 to now which is already 2020 is now just a sense of long time memories for what have happened on the past years can or cannot be expected to happen as for now. The old times have past and we are now currently working on the present. On the old times, only few people are transacting and using Bitcoin compared to now that there are really lots which causes congestion on confirming transactions and causing high fees if you wanted to confirm your transaction in a short period of time. The price of Bitcoin have improved compared to old days so we can say Bitcoin has changed in a good way. The downside is just on fees and transaction time which is now manageable at this point of time. Bitcoin is still usable and many people are engaging because of its flexibility to be used.

It will change probably since there are always modifications in every coin. In fact, it had already updated when it comes to development, the lightning network. In ten years, we expect a more fast and low transaction fees in bitcoin. There are also plenty of people that will use bitcoin instead of paying in fiat currency. Who knows about future update? As long as we already knew about bitcoin, no matter what happens we are the winners of this coin.

yes, the development of bitcoin is getting better every day.  although bitcoin development is slow, and prefers stable.  but for me bitcoi is still good and useful.  profitable and become a priority asset for my financial investment.  I believe, bitcoin will make a happy ending.

We don't what will happen for the next few years because from the bitcoin itself, it is already volatile in the market.

So what will we expect from it? But above all, I'm still rooting for a positive run for bitcoin's existence.

We just need to deal with the bitcoin's up and down journey in the market.

To be honest no one knows what would be happen to the Bitcoin or to the cryptocurrency after 10 years but one thing is for sure there will be a lot of changes for the 10 year run of the Bitcoin. Nothing is permanent in this world and everyone or everything is changing day by day, this as goes with bitcoin it may change day by day in which it may be a good change or a bad. On the past 10 years bitcoin's initial price is just $.08 but compared now that it is going higher and higher. What I want to say is that there will be a lot of changes after the 10 years and maybe there will also a lot of changes when it comes to the benefits that is brought by bitcoin.

There is no difference, it functions same as the past. I'm not sure of its early days of usage. From the day I started using it, I find this to be same without much of difference. Only the changes taking place in terms of block confirmation. Maybe the same question will have different answers when discussed from the miners point of view.

First of all, Bitcoin is even more usable after it 10years of creation which is the reason why theres increased in mining difficulty, increased in mempool size which directly leads to a hike in transaction fee and these are the challenges we'll experience since Bitcoin is going mainstream but the best thing you can do now that Bitcoin is going mainstream is increase the price of your service in other to fix the tx fee.