BTC, Transaction Fees now $ .60 , Now Cheaper to send a Money Order

[JanpriX]

BTC officially sucks,

$ .60 fee to send BTC, this is on top of a $2 cost to convert from FIAT to BTC.

So now the Minimum Cost to send $20 of BTC is $2.60  .

That is a 13% fee of the total amount.

It is now cheaper to send money by using a Money Order than BTC, and with the large # of unconfirmed transactions,
mailing a money order may be faster.

BTC is Now Slower than the US Postal Service,


 

Well, these have been the byproducts of the unsettled debate/rift (whatever you want to call it) between the Bitcoin Core and Bitcoin Unlimited. If they don't come to an agreement, these problems will persist and plague the BTC community. Being decentralized doesn't mean you have to pay for high transaction fees. Anyway, even if we are experiencing these problems, the adoption of BTC by the community is still there.

[kiklo]

Well, these have been the byproducts of the unsettled debate/rift (whatever you want to call it) between the Bitcoin Core and Bitcoin Unlimited. If they don't come to an agreement, these problems will persist and plague the BTC community. Being decentralized doesn't mean you have to pay for high transaction fees. Anyway, even if we are experiencing these problems, the adoption of BTC by the community is still there.

High Transaction Fees will KILL adoption,
the community is there , but over a year of unconfirmed transactions taking longer and longer and costing more each time.
What good is the community , if they can't FIX the problems.


 

 

[clickerz]

High Transaction Fees will KILL adoption,
the community is there , but over a year of unconfirmed transactions taking longer and longer and costing more each time.
What good is the community , if they can't FIX the problems.


 

I do fully agree here. One of the reasons that bitcoin become popular is that it is very flexible and cheaper to send through btc. But if that if that does not work already, its time to rise another rival cryptocurrency that offer this features which is lacking in btc. Also, transaction becomes slower and slower. Hope this will be resolve now.

[AjithBtc]

At the present moment the transaction fee have reduced a lot compared to the past days. Though the transaction gets confirmed depending upon the fee, most of the users will be placing less fee. Today the dollar price has dropped a little, so we can have a small reduction in the transaction fee.

[jubalix]

given that hard drive space has 10x at least since 2009 there is no reason why blocksize canot do the same and then you would see transaction costs come down ~10X.