Bitcoin transaction fees..

[orkoso]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

[Thekool1s]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Well segwit has already technically reduced the fee in half and there is a plan to implement the lightning network in the future so saying bitcoin hasn't made any progress in terms of solving this issue is totally wrong. You can use 30 to 50 sat/byte and use transaction accelerators to get fast confirmations. Also people need to stop associating bitcoin as a perfect solution. Think of bitcoin as the first computer, it wasn't fast but it was the first step towards the right direction.

[ralle14]

Few hard forks have been dished out to solve this problem but no one wants to move and support the new coins. I too don't want to support those coins because it's hard to trust a new coin that is similar to bitcoin and the prices can be easily manipulated bitcoin cash can be an example of what i'm talking about.

[player514]

Few hard forks have been dished out to solve this problem but no one wants to move and support the new coins. I too don't want to support those coins because it's hard to trust a new coin that is similar to bitcoin and the prices can be easily manipulated bitcoin cash can be an example of what i'm talking about.

Yea, segwit and hard forks have definitely reduced the transaction fee price and that's a great outcome, but the coins that have come out of the forks are just practically worthless. No one trusts them; they just seem more like attacks on the main coin Bitcoin.

[AngelSky]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Well segwit has already technically reduced the fee in half and there is a plan to implement the lightning network in the future so saying bitcoin hasn't made any progress in terms of solving this issue is totally wrong. You can use 30 to 50 sat/byte and use transaction accelerators to get fast confirmations. Also people need to stop associating bitcoin as a perfect solution. Think of bitcoin as the first computer, it wasn't fast but it was the first step towards the right direction.

Segwit is been taken in bitcoin to increase the block size and due to that number of confirmations will be increased so fees amount you afford for the each transaction will be reduced too.
However, if you use any desktop wallet means you will be able to change the transaction fees and I mean modifiedable and can reduce fees but I am sure that you transactions will be reach in some hours.

[Jating]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Well segwit has already technically reduced the fee in half and there is a plan to implement the lightning network in the future so saying bitcoin hasn't made any progress in terms of solving this issue is totally wrong. You can use 30 to 50 sat/byte and use transaction accelerators to get fast confirmations. Also people need to stop associating bitcoin as a perfect solution. Think of bitcoin as the first computer, it wasn't fast but it was the first step towards the right direction.

Segwit is been taken in bitcoin to increase the block size and due to that number of confirmations will be increased so fees amount you afford for the each transaction will be reduced too.
However, if you use any desktop wallet means you will be able to change the transaction fees and I mean modifiedable and can reduce fees but I am sure that you transactions will be reach in some hours.

Today I transfer my bitcoin to my other wallet and it seems very fast and fee's I used is "within the next 10" blocks and I don't have any complains though about the fees. Of course the higher the fees, the faster your transaction can be pick up by the miners. Yes, there is only a planned to integrate LN but I'm not sure when it is going to be implemented.

As for the alts very fast and focusing speed, maybe they are quick because their network is not yet saturated and the blocks are not even filled in, unlike bitcoin that the blocks and mempool are always full and clogged. Its not that bitcoin has made little effort, the community hasn't made any real consensus because of many factor, like political bickering amongst them.

[Thekool1s]

Segwit is been taken in bitcoin to increase the block size and due to that number of confirmations will be increased so fees amount you afford for the each transaction will be reduced too.

Wrong! That is segwitx2. Segwit is to optimize the code,  remove out the junk data from the transaction and place it in a separate block, you are mixing two different things. You need to learn more about segwit. 

[malikusama]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Just interest? They have already taken many steps to lower down the transaction fee. It was one of the major issues bitcoin users were facing in the past but after segwit it has reduced a lot than before. With the passage of time as the technology is evolving day by day we are getting more solution to this problem, and lightning network will make it more better.

[insight7]

Yes, in bitcoin is now quite a large commission. I wonder how the situation will develop further when people start switching more to forks with less commission for the transaction.

[1Referee]

Most people don't realize that a very important aspect is that fees largely depend on usage. If a certain coin doesn't experience much actual network usage, which applies to the far majority of the coins, the fees that you use to send a transaction through these networks will be ultra cheap. In some cases you can even send your transactions without including a fee at all. People initially were praising Ethereum for being fast and cheap, but as soon as Ethereum started to enjoy a decent bit of adoption, the fees started to sky rocket, and its network suffered difficulties several times in quite a short period of time. If every altcoin claiming to be fast and cheap experiences the same level of network usage, people will change their view on altcoins completely. Also, people were claiming to ditch Bitcoin for other coins because they are faster and cheaper, but they still use the "slow" and "inconvenient" Bitcoin.

[Granxis]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Actually there is no way to reduce the transfer fee, but there are a few tips that everyone knows. In particular, you should follow unapproved transactions before making a transfer, and it would be better if you set a price accordingly.

[polymerbatt]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Well, you can reduce the fee though by customize the fee and if the confirmations takes too long, you can use txid accelerator. There are many free txid accelerator out there.

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Actually there is no way to reduce the transfer fee, but there are a few tips that everyone knows. In particular, you should follow unapproved transactions before making a transfer, and it would be better if you set a price accordingly.

Nah you can reduce the transfer free, just click the Customize Fee when you want to send your bitcoins or you can check here https://bitcoinfees.earn.com/ to know how much is the normal fee.

[Lindazz]

Bitcoin does need to take some steps to reduce the cost of transfers, and as prices rise, the high cost of transferring money has clearly hindered the flow of bitcoin.

[pooya87]

when you want to compare bitcoin fees with altcoins the question is, can they keep their fee low if the circumstances were the same?
and the answer is no.

first of all most of them won't even be able to handle the amount of transactions that bitcoin is handling on a daily basis.
secondly when their blocks become full and if by a dim chance they were worth $9000+ then their fees would be the same as bitcoin and in some cases even more.

[Thekool1s]

when you want to compare bitcoin fees with altcoins the question is, can they keep their fee low if the circumstances were the same?
and the answer is no.

first of all most of them won't even be able to handle the amount of transactions that bitcoin is handling on a daily basis.
secondly when their blocks become full and if by a dim chance they were worth $9000+ then their fees would be the same as bitcoin and in some cases even more.

Exactly people need to understand this, the fees will always increase in fiat terms, let's say it costs 10 cents to send a payment on dash network, or 0.001 dash. It will cost the same 0.001 dash if the price reaches 9k per dash. But in Fiat it will seem like 10x more. So technically no coin has solved this issue so far..

[tarpa07]

Bitcoin Transaction fees are very low but if you need to first Transaction so you need to pay high fees look like blockchain.

[jekjekman]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

Of course there is, Bitcoin developers really want to make transaction fees to become low again and that's the main purpose of having a Segwit, Segwit2x and eventually Lightning network. Bitcoin is having a big number of transactions per day compare with those Altcoins that's why the transaction fees is going up too.

[darewaller]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

I Believe other cryptocurrencies are targeting speed and lesser fees because they have low price rate. Nobody would like to have a coin that is worth just $150 bucks and cost a fee of 10 bucks to send and receive. Bitcoin has a high price rate, so that’s why they are setting fees at a higher rate which is really bad. They do everything in favor of the old guys and not even considering the new guys.

[Janation]

Hi, Do you think is tehre any interest to reduce the transaction fees for bitcoin? Many alts are focusing on speed and low fees while bitcoin has made little effort.

There are a lot of BIP or Bitcoin Improvement Proposals about this and as you can see, some of them are being turned down and not supported. I guess it will take time before this problem is done.

[sungaiyangderas]

has many ways to solve this problem but no one wants to act to support new coins. I do not want to support those coins that are similar to bitcoin and can easily be manipulated bitcoin cash can be an example of what I discussed ..