Fees will get to high!

[jootjejodel]

If bitcoin will really have a value off $100,000 or even $1,000,000 will fees then rise to an avarage of 100 or 1000 dollars per transaction? In that case banks offer way lower fees!

[1715088035]

1715088035

[1715088035]

1715088035

[1715088035]

1715088035

[1715088035]

1715088035

[1715088035]

1715088035

[pooya87]

If bitcoin will really have a value off $100,000 or even $1,000,000 will fees then rise to an avarage of 100 or 1000 dollars per transaction? In that case banks offer way lower fees!

no.
because simply two things will happen in the far future that you are thinking about:
- either we get an scaling solution and there is enough block size to include all the transactions in it, so fees will come down the same ways they came down from being 0.01BTC back when price was $10
- or people will stop using bitcoin and blocks will be empty again and again fees will come down because there is no competition.

[prashanta]

Already i have taken my payment in altcoin due a raised volume of bitcoin fees. once a time, when we will prefer bitcoin to take payment but now we prefer altcoin because altcoin transaction is lower fees & to take a small time for confirming transaction. Sometime one of the all altcoin will overtake to bitcoin provably.  

[jootjejodel]

Yes because we should be able to buy a candy scanning QR codes on our phone! For that you can better use dogecoins!

[jootjejodel]

But on the other side we also don't buy a candy with our credit card! So for big transactions we will keep using bitcoin!

[freebutcaged]

Yes because we should be able to buy a candy scanning QR codes on our phone! For that you can better use dogecoins!

But on the other side we also don't buy a candy with our credit card! So for big transactions we will keep using bitcoin!

Are you talking to yourself now?

You create a problem and provide a solution for it as well?

That's fucked up mate, for someone without the ability to transact $200M internationally, paying even $1000 as a fee is a blessing if Bitcoin

Could do that for them, this is not only a bad thing but many people see it as a blessing. if you were under embargo and banks were denying

To provide any service to you then you'd understand my point, you go and buy your candy kid.

[jootjejodel]

Yeah you think for the big boys! I think about the people of Venezuela then could use bitcoins for their daily expenses! So they can start ignoring their government! And btw you need big and small players in each economy!

[Pearls Before Swine]

Yes because we should be able to buy a candy scanning QR codes on our phone! For that you can better use dogecoins!

But on the other side we also don't buy a candy with our credit card! So for big transactions we will keep using bitcoin!

Are you talking to yourself now?

You create a problem and provide a solution for it as well?

That's fucked up mate, for someone without the ability to transact $200M internationally, paying even $1000 as a fee is a blessing if Bitcoin

Could do that for them, this is not only a bad thing but many people see it as a blessing. if you were under embargo and banks were denying

To provide any service to you then you'd understand my point, you go and buy your candy kid.

He's a shit poster trying to pile it up for another payout. 

I like pooya87's thesis,  though I'm hoping fees will come down in the former scenario,  i.e., the scaling problem gets solved.

This is another thread where nobody speaks english, so I'm outty.  Keep babbling broken english nonsense guys.  You're doing a great job.

[jootjejodel]

Well bitcoin (and altcoins) should not become your english speaking world thing! You better stay with your dollars. Its now time for other parts of the world!
And come one why being so arrogant! Do you ever try to speak dutch, german or spanish! At least we know some more languages!
And i'm so sorry we don't get all your slangs and we are not yet as arrogant as you guys! Keep one watching your crap on MTV and loose all your friendlyness!

[olushakes]

If bitcoin will really have a value off $100,000 or even $1,000,000 will fees then rise to an avarage of 100 or 1000 dollars per transaction? In that case banks offer way lower fees!

The scenario you are proposing will happen or even go beyond that it terms of fees if nothing is done to the current situation as we have it which I feel will be sorted in due time because the core stakeholders I am sure are looking for ways to solve this issue. On the other hand , I won't agree that the fees charged by banks will be lower in that even today to send the amount of money sent through bitcoin with the current fees is not compared to what banks are charging in addition to the amount of personal information you have to share which in most cases priceless.

[bixbem90]

If not high your transaction have a long time to come... As for me, have 6 hours for get 1 confirmations... more and more people mining now... and block reduce.. i know btc fee depend ons btc not depend on usd... but this is the truth we must accept

[jootjejodel]

But what i'm really wondering is don't we need the small guys as well! Better 100 million owners of 0.1 then 1000 owners of 10000 BTC right?

[iamTom123]

Personally, I would not mind that big transaction fee...that is because I am more worried if I would have Bitcoin by that time. But then, this is a valid concern because Bitcoin is supposed to be low in fees in contrast to the traditional transfer agents we use. What is happening now is quite opposite of what Bitcoin should be.

However, we are expecting that this problem is just temporary and that solutions can be coming soon so we can all go back to the time when fees are really low and quite rationale unlike today.

Things will get better by the time when Bitcoin will already be reaching the $100,000 level...that is nothing to worry about actually.

[jootjejodel]

Personally, I would not mind that big transaction fee...that is because I am more worried if I would have Bitcoin by that time. But then, this is a valid concern because Bitcoin is supposed to be low in fees in contrast to the traditional transfer agents we use. What is happening now is quite opposite of what Bitcoin should be.

However, we are expecting that this problem is just temporary and that solutions can be coming soon so we can all go back to the time when fees are really low and quite rationale unlike today.

Things will get better by the time when Bitcoin will already be reaching the $100,000 level...that is nothing to worry about actually.

So change as much fiat to bitcoin now you can still do it!!

[DOGE12321]

If bitcoin will really have a value off $100,000 or even $1,000,000 will fees then rise to an avarage of 100 or 1000 dollars per transaction? In that case banks offer way lower fees!

no.
because simply two things will happen in the far future that you are thinking about:
- either we get an scaling solution and there is enough block size to include all the transactions in it, so fees will come down the same ways they came down from being 0.01BTC back when price was $10
- or people will stop using bitcoin and blocks will be empty again and again fees will come down because there is no competition.

Yes I agree. One of the above may happen. Moreover, if we are to find a solution to the scaling issue, it may also result in the loss of decentralisation.
However, if one takes it into a realistic sense, Bitcoin would never reach 100,000.

[jootjejodel]

If bitcoin will really have a value off $100,000 or even $1,000,000 will fees then rise to an avarage of 100 or 1000 dollars per transaction? In that case banks offer way lower fees!

no.
because simply two things will happen in the far future that you are thinking about:
- either we get an scaling solution and there is enough block size to include all the transactions in it, so fees will come down the same ways they came down from being 0.01BTC back when price was $10
- or people will stop using bitcoin and blocks will be empty again and again fees will come down because there is no competition.

Yes I agree. One of the above may happen. Moreover, if we are to find a solution to the scaling issue, it may also result in the loss of decentralisation.
However, if one takes it into a realistic sense, Bitcoin would never reach 100,000.

If you were realistic 4 years ago you would never think it would be worth almost 3000

[Kakmakr]

Yes because we should be able to buy a candy scanning QR codes on our phone! For that you can better use dogecoins!

But on the other side we also don't buy a candy with our credit card! So for big transactions we will keep using bitcoin!

Are you talking to yourself now?

You create a problem and provide a solution for it as well?

That's fucked up mate, for someone without the ability to transact $200M internationally, paying even $1000 as a fee is a blessing if Bitcoin

Could do that for them, this is not only a bad thing but many people see it as a blessing. if you were under embargo and banks were denying

To provide any service to you then you'd understand my point, you go and buy your candy kid.

He's a shit poster trying to pile it up for another payout. 

I like pooya87's thesis,  though I'm hoping fees will come down in the former scenario,  i.e., the scaling problem gets solved.

This is another thread where nobody speaks english, so I'm outty.  Keep babbling broken english nonsense guys.  You're doing a great job.

Check your facts before you attack someone. The member is not even signed up for a signature campaign or any other campaign at the time of posting, so what payment should he receive? Then you start talking down to people who use "broken English" Have you even considered that most people on this forum speak other languages? < Give them credit for trying to communicate in your damn language >

OP, the fees are also dependent on the amount people are willing to pay. I made a payment today and paid the minimum fees, because I was not in a hurry to get the transaction confirmed. It took 3 hours to confirm and it cost me $1,07. < Still a lot of money for people making tons of micro transactions, but future scaling solutions will address this matter >

[jootjejodel]

Yes because we should be able to buy a candy scanning QR codes on our phone! For that you can better use dogecoins!

But on the other side we also don't buy a candy with our credit card! So for big transactions we will keep using bitcoin!

Are you talking to yourself now?

You create a problem and provide a solution for it as well?

That's fucked up mate, for someone without the ability to transact $200M internationally, paying even $1000 as a fee is a blessing if Bitcoin

Could do that for them, this is not only a bad thing but many people see it as a blessing. if you were under embargo and banks were denying

To provide any service to you then you'd understand my point, you go and buy your candy kid.

He's a shit poster trying to pile it up for another payout. 

I like pooya87's thesis,  though I'm hoping fees will come down in the former scenario,  i.e., the scaling problem gets solved.

This is another thread where nobody speaks english, so I'm outty.  Keep babbling broken english nonsense guys.  You're doing a great job.

Check your facts before you attack someone. The member is not even signed up for a signature campaign or any other campaign at the time of posting, so what payment should he receive? Then you start talking down to people who use "broken English" Have you even considered that most people on this forum speak other languages? < Give them credit for trying to communicate in your damn language >

OP, the fees are also dependent on the amount people are willing to pay. I made a payment today and paid the minimum fees, because I was not in a hurry to get the transaction confirmed. It took 3 hours to confirm and it cost me $1,07. < Still a lot of money for people making tons of micro transactions, but future scaling solutions will address this matter >

Yes you can still put very low fees even my $0,24 fee came trough after more then a week! And this happened in the last 2 weeks! I wonder how many English speakers from mother language now anothers language as good as we know English!

[mk4]

If bitcoin will really have a value off $100,000 or even $1,000,000 will fees then rise to an avarage of 100 or 1000 dollars per transaction? In that case banks offer way lower fees!

As of our current situation, fees will definitely go higher if transactions rise to the point of bitcoin being impractical to use.

Will it be fixed? We shall wait for the BIP148 implementation on the end of July and see if SegWit > Bitcoin unlimited or the other way around.

[AGD]

Fees will get as high as people are willing to pay.