Bitcoin fees are like 5 sat/byte now what?

[pinkflower]

Lower fees = more happy users = more adoption = higher price = more reward for miners.
(12.5BTC+0.5BTC) * $5000 >> (12.5BTC+3BTC) * 1000

I don't understand why the miners are ignoring this very important thing. If the fee is low, then for a short while their revenues may decline by 4% or 5%. But in the long term, it will increase manifold due to the large spike in users.

I dont think a spike in users will happen just because the fees are low. No one is really using BTC to buy items online. They have their credit cards and Paypal for that. The only attraction most users have for BTC is to hold them as an investment to get rich.

actually what i meant was the opposite.
low fees may not lead to "spike in users" but high fees and all the issues associated with it can prevent the "spike in users".

in other words if bitcoin works smoothly like it has been for years, the adoption will continue to grow and the speed of it will increase. but if fees continue to be high and all the delays and stuff like that continue happening then the adoption will also be prevented.
luckily the spam attacks and with it the high fees never last long so the effects have not been severe so far.

Thats because it will never last long. Spamming will cost the attacker a lot of money. If he wants to continue doing it for years then he will inevitably realize that it was better for him to save all those BTC he wasted in the first place.

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[streazight]

Well at least I won't be asked to spend ~$7 in fees for a $20 transaction again.

Lower fees = more happy users = more adoption = higher price = more reward for miners.
(12.5BTC+0.5BTC) * $5000 >> (12.5BTC+3BTC) * 1000

I don't understand why the miners are ignoring this very important thing. If the fee is low, then for a short while their revenues may decline by 4% or 5%. But in the long term, it will increase manifold due to the large spike in users.

I dont think a spike in users will happen just because the fees are low. No one is really using BTC to buy items online. They have their credit cards and Paypal for that. The only attraction most users have for BTC is to hold them as an investment to get rich.

Isn't the unbanked and those without Paypal and CC supposedly the primary users of BTCBTCBTC. Seems times have changed.

What do you mean? The unbanked people from a third world country? They do not need a bank or cryptocurrencies. What they need is food, shelter, clothing and a helping hand in how to get their life in order.

They are barely surviving and they dont have the time to think about cryptocurrencies.

I don't think so all the people of advanced or developing countries use banks or cryptocurrencies.
It is individual's choice. However, in third world countries, there are banks but few ones and yes their life is full of difficulties. They won't give banks or digital currencies a thought if they are striving hard for even their basic needs. Nobody will.