drm
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August 29, 2017, 03:39:49 AM |
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It has always been discussed, and it is actually a more effective argument nowadays.
And it will be even more if btc prices go up in the future, it will be one of the deciders..payment solution or store of wealth.
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"With e-currency based on cryptographic proof, without the need to
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effortless." -- Satoshi
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Netnox
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August 29, 2017, 04:29:11 AM |
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Many BTC users want to see higher fees. Just compare fee revenue vs. subsidy revenue for miners. Fees need to increase much more to pay for the same level of security when the subsidy dries up.
I am a bitcoin user and I definitely don't want the fee to go over $0.30 (the fee charged by Visa). Miners already get a reward of BTC12.5 in the form of block reward. They should not get too greedy. Bitcoin is still in its infancy and the miners need to wait until the user base increase to 100 million or 250 million. If they increase the fee now, then it will negatively impact the adoption. |
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nethan1btc
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August 29, 2017, 06:58:10 AM |
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It has always been discussed, and it is actually a more effective argument nowadays.
And it will be even more if btc prices go up in the future, it will be one of the deciders..payment solution or store of wealth.
I don't really care much of those possibilities to come and those arguments of such exploding fees is no an issue here but the contentment of a person. Since bitcoin earning isn't taxable well fees will rise higher of price also went expensive. It's more like with government taxes when a certain product or business do have bigger sales, well taxable deductions also will be applied based on the regulations implemented by law. |
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OneUnderBridge
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August 29, 2017, 07:08:52 AM |
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Maybe Bitcoin Cash would be cheaper to use than bitcoin? If more businesses start using bitcoin cash because it's cheaper to use then maybe bitcoin would be replaced?
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haroldtee
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August 29, 2017, 07:16:57 AM |
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As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
Over time, this fee issue will settle and be a thing of the past. Moreover, I don't see this fee issue being a downfall of bitcoin as what most people do not know is that there is already a lot at stake, so many investments centered on bitcoin. However, none of us know what happens tomorrow so we are all assuming now. |
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drm
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August 31, 2017, 12:36:45 AM |
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Maybe Bitcoin Cash would be cheaper to use than bitcoin? If more businesses start using bitcoin cash because it's cheaper to use then maybe bitcoin would be replaced?
They are all claiming it's cheaper but in reality it;s just the price difference between bitcoin and bitcoin cash keeping it "cheaper". Makes no sense to use this argument really. Unless you're talking about bch introducing some different kind of fee. |
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bitcoinmaniac52
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Presale is live!
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August 31, 2017, 01:13:47 AM |
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Bitcoin fees vary depending on the time of day and how many people are using the network. Right now the PRICE is exploding, which is causing unprecedented network congestion.
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bamboylee
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August 31, 2017, 01:22:23 AM |
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This argument has already been discussed before and is already getting old.
Bitcoin will not crash just because the fee is high. If it will be the cause, it could have happened long ago because there are lots of alts with way lower tx fees. There is many uses of bitcoin. It could have failed to be a currency, but others uses is still good.
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Kaller
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August 31, 2017, 10:46:06 PM |
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"BTC fees exploding and BTC will crash down"
No, no it won't. Fees are not that high unless you need your transaction processed instantly. THEN you will have to pay a lot. Otherwise they are still not that bad.
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6Asmodeus6
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August 31, 2017, 10:54:19 PM |
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The fees are quite normal with the prices.Of course it's not fair to the people just started using bitcoin but can you imagine that BTC was worth $2.400 just 2 months ago.Thats a insane progress.The transactions are increasing , the prices are increasing we can't expect fees to be same.I want them to reduce too but it's almost impossible now.
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Ngewex Yuk
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September 01, 2017, 12:10:25 AM |
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yes right, currently bitcoin transaction fee feels expensive, 0.001 btc or equivalent to $ 4.5 and need about 6 hours to be used by the recipient. I hope bitcoin can lower the fee to make it better.
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GreatOrchid
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September 01, 2017, 12:22:50 AM |
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Yes the fees are so high right now, but you must know that actually bitcoin is more for holding purposes. Now that are are more altcoins in the market you can easily send money fastly and cheaper if you use other coins like Ethereum, it is listed in almost every store that accepts bitcoin.
But yes, they are so high and it is a little bit impossible to send low amounts of money because of fees, if you send only $5 you must pay $7 for fees and that is ridiculous.
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perla
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September 01, 2017, 12:28:58 AM |
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yes right, currently bitcoin transaction fee feels expensive, 0.001 btc or equivalent to $ 4.5 and need about 6 hours to be used by the recipient. I hope bitcoin can lower the fee to make it better.
are you sure if bitcoin's fee lower it can be better ? it only better for user not miner, just follow the rules and about 0.001 btc equivalent to $4,5 it is because the price. |
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vasrasus
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September 01, 2017, 12:36:11 AM |
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yes right, currently bitcoin transaction fee feels expensive, 0.001 btc or equivalent to $ 4.5 and need about 6 hours to be used by the recipient. I hope bitcoin can lower the fee to make it better.
are you sure if bitcoin's fee lower it can be better ? it only better for user not miner, just follow the rules and about 0.001 btc equivalent to $4,5 it is because the price. Bitcoins transaction fee will increase as long as btc valie imcrease. Let's face it btc will continue to incrrase without us noticing that it reaches the value we thought it counld just reachafter years yet can only happen in a month. Crashing down will never happen. |
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Rahar02
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September 01, 2017, 12:44:53 AM |
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As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
Stupid idea obviously, I'm not sure what you mean? If fees will go down for short time? Or if fees won't go down? Current price of bitcoin continue to increase and fees problem already resolved by segwit activation. But, not all wallet platforms release new updates which support segwit addresses just like electrum wallet https://twitter.com/ElectrumWallet/status/900591309521596416 |
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Ilegendph
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Thinking on the higher plane of existence.
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September 01, 2017, 01:00:49 AM |
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Fees only seem ridiculous because the price of Bitcoin is so high. They have pretty much stayed the same...
I agree with this one, the transaction fees of bitcoin is not constant because its price goes up and down, volatile in short. But the rate of transaction is constant. For example you would change your btc to an altcoin and the price of that btc at that time is high then if multiplied to the rate the answer would be also high and vice versa if the the price of btc is low. |
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Somz1
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September 01, 2017, 04:29:00 AM |
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We just have to wait until segwit gets property integrated to see those fees go drastically down
The Lightning network also will contribute to this in future
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