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Author Topic: Low transactions fees but fast  (Read 1567 times)
radjie
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September 27, 2017, 01:44:25 PM
 #21

Low transaction costs but fast? I think it is very unlikely or impossible in the present because in general a fast transaction will require a high cost so as to be balanced and vice versa if the transaction costs are low then the transaction process will be slow.

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September 29, 2017, 01:41:20 PM
 #22

I think the speed of confirmation is base on the volume of transaction in blockchain because right now since china closed some of their exchange it has a big effect of redusing transactions. And regarding the fee it is the same it was based on the amount you transacted but there are some wallet that also fluctuates its transaction fee.
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September 29, 2017, 08:26:20 PM
 #23

I think the speed of confirmation is base on the volume of transaction in blockchain because right now since china closed some of their exchange it has a big effect of redusing transactions.
Whilst it will reduce the transactions a little, I don't think the closing of exchanges will have a huge effect on the number of transactions to be honest...

Most exchange transactions are "off chain"... It's effectively just people swapping numbers in the exchange's database... Only withdrawal and deposit transactions are completed on chain...

And despite the volatile nature of exchanges and security risks, most traders seem to ignore the warnings and keep all their coins on the exchange to avoid transaction fees etc.

Besides, most of the traders will likely just move to a different exchange if their normal one gets closed anyway Tongue

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September 30, 2017, 05:18:18 AM
 #24

I also think a lot of spammers realized that it is not as inexpensive as before SegWit, to spam the network anymore. SegWit

Increased the number of transactions that a block can take also, so it helps to prevent congestion. SegWit also reduces the

size of each individual transaction.  Grin ..... This will even be more effective, when the Lightning Network gets implemented.

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