i think bitcoin will not be common for small transcitions

[therealfalcon]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

[ktabb]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

Maybe I misunderstood your point but this doesn't seem like an issue to me. You can use indefinitely small fractions of bitcoins for transactions so it doesn't seem like a problem.

[tolopi]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

That is already the case, I think the bigger question is what will happen if the fees required go beyond what is reasonable for ordinary transactions.

There are already several solutions that have been suggested but the community can't agree on which one to adopt, bitcoin can't move forward unless an overwhelming majority agree on the changes required.

[Panda Trump]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

Maybe I misunderstood your point but this doesn't seem like an issue to me. You can use indefinitely small fractions of bitcoins for transactions so it doesn't seem like a problem.

You can use up to a 100 millionth of a bitcoin right now, which is about 0.0025 cents... Yep, you can use indefinitely small fractions of bitcoins for transactions!

But now you want to send this bitcoins to someone else... For example $3 to a friend and $2 to your son, etc...

If you'd send $3, there would be fees you have to pay to the miners too, which would mean you would pay more than $3 to send $3 to your friend. If the fees are high, these fees could be $2-$3 actually... And if you don't use these fees? Your transaction could take days up to weeks, or it might just never get confirmed... So you would pay $6 to send $3 to a friend? Not alot of people would do that...

That's why he thinks bitcoin will not be common for small transactions!

[lionheart78]

With high transaction fee, I think the idea of bitcoin being used in small transactions are gone now.  Though it is still cheaper in moving large transaction.  We are still waiting for the scaling solution to fix this issue.  Though there are some comment that Bitcoin is really not meant for smaller transaction like coffee payment but until this scaling solution is implemented, we never know.

[lite]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

Activation of SegWit and lightning network implementation will resolve the issue. we'll be able to send small tx with very little fees once LN is available.

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

Maybe I misunderstood your point but this doesn't seem like an issue to me. You can use indefinitely small fractions of bitcoins for transactions so it doesn't seem like a problem.

i think he's talking about the fees. atm fees is high to create a small tx with high priority.

[susila_bai]

What you are saying is true and that is why happening right now with bitcoin users who are now keeping bitcoin as reserve coin like gold and balance other alt coin which are good are kept for small transaction

[Superzpay]

Suppose if a person will transact about $1 then for that transaction he will not be willing to pay more than 2 dollars of fees so for that type of transactions I am sure that no one will use bitcoin. But if in the future they reduced the fees for smaller transactions then they will use bitcoin even for that.

[erpbridge]

I don't think that is where it is headed for. People are now looking at bitcoin only as a gold replacement to invest their money in. They know the fees is way too much, and it won't be used for transactions. But they can trust it as a source of investment since it is decentralized.

[lizardbtc]

You might see it as a problem now, lets wait and see what will happen after 1st of August when some nodes go to USAF, if bitcoin activates SegWit well bitcoin could be used for a tiny transactions - with low fee.

Anyway bitcoin is not the currency you can pay a cup of coffe now sadly, lets hope and stay positive that this will be solved. Looking forward to see it fixed this year!

[Himanshu111]

Yes, i think you are correct because now the transaction fees of Bitcoins is really high for small transactions so small transactions should be avoided. Bitcoin should not be seen as money but investment option like gold and silver.

[PacePay]

I am sure that this problem will be solved very sooner and then we will be able to send the smaller amount of money in transaction of bitcoin without any high fees. I am sure that it is only a limited time issue and sooner the developers will work for it to solve this.

[megynacuna]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

No challenge at all even if bitcoins are used for bigger transactions because we are yet to develop the usage of the satoshis and if that is eventually ensured I think Bitcoin will become eligible for all levels of transactions.

[Tyrantt]

I'll have to agree with the OP, to be completely honest, I don't see bitcoin as something to be used for buying something like bubble gum or a single can of soda, it's probably going to be used for something bigger like cars, bills or anything that would cost a little bit more than a few dollars.

[jonald_fyookball]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

The high price of Bitcoin has nothing to do with the high fee.

The high fee is because the block space is limited.

bigger blocks = lower fee.  

freakin simple.  read my letter to the miners.

people: stop drinking the koolaid propaganda -- Bitcoin can be used for all size purchases , down to a few pennies..it worked that way just fine until blocks became full. 

[Velkro]

what you think, how could it be solved?

Only 2 solutions:
1. Scaling offchain
2. Leave it alone, treat bitcoin as digital GOLD

[HaXX0R1337]

Suppose if a person will transact about $1 then for that transaction he will not be willing to pay more than 2 dollars of fees so for that type of transactions I am sure that no one will use bitcoin. But if in the future they reduced the fees for smaller transactions then they will use bitcoin even for that.

Hope you know the reason why you are forced to give higher fees,it is simply because someone is happy to give a competitive price to get his or hers transaction as fast as possible and if you think that bitcoin is too much to handle then you can very well step away from it. it cannot be used for micro transactions for several months now and i do not think that we will see a change for some time now unless we see some sort of scaling solution.

[haroldtee]

Bitcoin is now like a top notch and definitely no longer for micro transactions. The values are high and everything about bitcoin is so high now that micro transactions are getting close to impossible if not impossible already.

what you think, how could it be solved?

Only 2 solutions:

2. Leave it alone, treat bitcoin as digital GOLD

Love the 2nd solution most. Apparently a lot of people who didn't start early will end up falling into this category. If you can't afford it, find an alternative. Thank God for some altcoins.

[moviebuff777]

What you think ?

as prices of bitcoin raises up, the ability to do minimum fees transaction also goes up



what you think, how could it be solved?

I THINk people will use other currencies for small transitions, and bitcoin for main balance

Yes I agree that because of higher fees for bitcoin, it will probably be used only for large transactions and investing. Several other altcoins could be used for smaller transactions.

[kelseydustin]

From my perspective, bitcoin is an internet gold and as we know, we can not make small transactions, micro transactions with gold. Therefore, it is time for other cryptos to rise and become a good online payment for micro transactions