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Author Topic: Who to blame for the increasing transaction fee?  (Read 2668 times)
Blawpaw
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February 10, 2017, 10:54:49 AM
 #61

The transactions fee cost is going higher and higher because of the ever increasing of the number of transactions. Everyday the number of bitcoin transactions is increasing and the network is not prepared to handle such a big number of transactions. So in order to make sure the transactions go through, users are paying for higher fees. The only viable solution to this issue for now is increasing the Block size in order to fit a lot more transaction in each block, but it seems that this can cause all sort of new attack vectors. That’s why it is still not implemented and that’s why many of the community members do not agree with it.
Pettuh4
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February 10, 2017, 11:34:57 AM
 #62

We all know that recently, a huge backlog of transaction of at least 50,000 at any point of time.
And one of the solution is to increase the transaction fee. Which defeat the purpose of micro-transaction
with bitcoin.

Is this the miners fault alone? Who do you think need to step up  to stop this madness
of increasing transaction fees?

What's your thought about it?

Yes I will blame the miners for monetizing Bitcoin transactions. I feel there must be a standard setup to regulate this because it's gradually getting out of hand and it can make Bitcoin unpopular.
BitcoinHodler
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February 10, 2017, 11:42:53 AM
 #63

instead of trying to find someone to point the blaming finger at, i think it is best to try and find a solution for the problem and then when the solution were found we should try and find some way of enforcing that solution to take place instead of waiting around for years so that maybe miners accept it or not.

Holding Bitcoin More Every Day
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