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loof99
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January 03, 2018, 01:36:45 PM |
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I think so it may happen, if the investors demands to lower the cost for transaction or processing fees I think they will make some plans for it.
As a Bitcoiner I am looking forward to have a lower cost in this since it will be a great help for everybody.
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Newboybb
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Activity: 266
Merit: 10
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January 03, 2018, 01:44:52 PM |
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At present, the transfer fee of bitcoin is not reduced, because there is no new technology to change the current block congestion problem. |
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richardivan
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January 03, 2018, 02:33:54 PM |
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I think so it may happen, if the investors demands to lower the cost for transaction or processing fees I think they will make some plans for it.
As a Bitcoiner I am looking forward to have a lower cost in this since it will be a great help for everybody.
Out there many people try make Bitcoin fee's lower. but it's hard the implementation since bitcoin's community not consist only few people, and make them all accept that change |
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zais
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January 03, 2018, 02:55:35 PM |
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The cost of bitcoin transaction depends on what wallet to use, there is a wallet provider who bear the transaction costs of its members such as Triv and some provide transaction fees to its members. but in general the cost of bitcoin transactions ranges from: 0.0001 - 0.0005 BTC For the purchase / sale cost of Triv there is a taker fee that ranges from 0.3% -3.5% based on the nominal purchase |
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nanasei
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Activity: 126
Merit: 0
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January 03, 2018, 03:00:56 PM |
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As far as bitcoin is highly demanded and the network keep congestion, how do the network fees reduce? I don't think is now.
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tegarp90
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January 03, 2018, 03:06:35 PM |
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i think bitcoin mining is become harder as long as the supply is decreasing, so the fee will be increasing too, correct me if i'm wrong
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Anti-Cen
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Activity: 210
Merit: 26
High fees = low BTC price
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January 03, 2018, 03:13:39 PM |
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At the moment the bitcoin network is just overloaded, and the price of bitcoin is too great for standard commissions. Just wait until the Lightning Network.
Yeah sure it is and it will stay that way just so long as the miners can get away with ripping us off. LN looks like lots of small banks to me but the debate is not over however it's a long way off |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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Carrody
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January 03, 2018, 03:17:59 PM |
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everybody hopes  I agree, transactions are too slow and fee is too high(( |
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ritsel02
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January 03, 2018, 03:21:22 PM |
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That's the sad reality,bitcoin transactions became higher nowadays and there's a lot of normal transactions being stucked.Hopefully the transaction fee will be reduced and will also solve the delay of each transactions.Don't have the idea on the performance of super bitcoin yet,I still trust bitcoin and being hopeful to solve its weaknesses. |
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randal9
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January 03, 2018, 03:26:00 PM |
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i think bitcoin mining is become harder as long as the supply is decreasing, so the fee will be increasing too, correct me if i'm wrong
I agree that it is logical that the fee will increase, but how can ordinary users of bitcoin act? it becomes unprofitable |
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levvv
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Activity: 532
Merit: 17
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January 03, 2018, 03:27:39 PM |
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Yeah i think bitcoin transaction fee must be reduced in the future. Peoples start to using bitcoin at beginning, one of their reasons is because they want to avoid high transaction fee in the bank or other fiat transaction. If the bitcoin transaction fee even much higher than fiat transaction fee, i think people will start to leave the bitcoin which is sad for bitcoin as the Father of Crypto.
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hridoyb (OP)
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January 13, 2018, 06:48:51 PM |
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As far as bitcoin is highly demanded and the network keep congestion, how do the network fees reduce? I don't think is now.
Many people already use eth or waves because waves tx fee is low.I think bitcoin try to reduce there tx fee and try to added new technology for there service .People are worst and boring bitcoin high tx fee and microsoft already remove bitcoin payment |
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Huskarls
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Activity: 364
Merit: 10
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January 13, 2018, 06:52:33 PM |
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As far as bitcoin is highly demanded and the network keep congestion, how do the network fees reduce? I don't think is now.
Many people already use eth or waves because waves tx fee is low.I think bitcoin try to reduce there tx fee and try to added new technology for there service .People are worst and boring bitcoin high tx fee and microsoft already remove bitcoin payment but for now, the fee for ETH is also starting to be insane, for today it's down to 0.1 gwei and a while ago, safe gas price rose again to 40 and fast became 90. I am quite frequent transactions using eth every day forced to vacuum for a few days because of gas prices become craze so i thinks this is the time back to doge |
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hridoyb (OP)
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January 13, 2018, 06:53:37 PM |
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Yeah i think bitcoin transaction fee must be reduced in the future. Peoples start to using bitcoin at beginning, one of their reasons is because they want to avoid high transaction fee in the bank or other fiat transaction. If the bitcoin transaction fee even much higher than fiat transaction fee, i think people will start to leave the bitcoin which is sad for bitcoin as the Father of Crypto.
Yes i am agree with you.People only use bitcoin other crypto currency for avoid high transaction fee.We usually see most of the exchanger increased there withdraw fee and thank people try to use another coin like as waves eth to reduce fee. |
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cutebat
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January 15, 2018, 06:49:20 PM |
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I'm sorry to break the news to you but there is no way you can reduce the transaction fee because it relies on the price of the Bitcoins. So, the higher the price, the higher the fee.
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WordLease
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Merit: 0
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January 16, 2018, 12:12:45 AM |
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it can be reduce if we all stop using bitcoin.
miners ask for very high fee which makes bitcoin so suck.
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The Alchemlst
Full Member
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Activity: 350
Merit: 100
BITDEPOSITARY - Make ICO's , More Secure
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January 16, 2018, 01:00:53 AM |
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I noticed the same problem and I think the best response for this is to wait for the moment before we trade our bitcoins and manage our funds, well as for me I am holding so I am not affected now by the trading fees and since bitcoin's value has dropped I wouldn't want to cut my loss now specially when there is a very high fees. |
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droptableguy2
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Activity: 434
Merit: 10
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January 16, 2018, 01:05:44 AM |
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As far as bitcoin is highly demanded and the network keep congestion, how do the network fees reduce? I don't think is now.
Many people already use eth or waves because waves tx fee is low.I think bitcoin try to reduce there tx fee and try to added new technology for there service .People are worst and boring bitcoin high tx fee and microsoft already remove bitcoin payment but for now, the fee for ETH is also starting to be insane, for today it's down to 0.1 gwei and a while ago, safe gas price rose again to 40 and fast became 90. I am quite frequent transactions using eth every day forced to vacuum for a few days because of gas prices become craze so i thinks this is the time back to doge Because the value of the bitcoin is so high, the miners ask for the corresponding high value so there is no way to reduce the bitcoin transaction fee unless you stop using bitcoin. Excessive transaction costs have caused some traders to refuse to trade the bitcoin due to overcharging, but if you have to invest, you have to accept this if you want to get a profit from it. |
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andrei56
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January 16, 2018, 01:05:48 AM |
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As far as bitcoin is highly demanded and the network keep congestion, how do the network fees reduce? I don't think is now.
You can use segwit addresses, the fee is greatly reduced if you use addresses like that, however if you do not have any hurry to use your bitcoin you could wait until the lightning network is activated we do not know when that is going to happen but it may happen in this year. |
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Anti-Cen
Member
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Activity: 210
Merit: 26
High fees = low BTC price
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January 16, 2018, 01:12:13 AM |
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At the moment the bitcoin network is just overloaded, and the price of bitcoin is too great for standard commissions. Just wait until the Lightning Network.
Please educate yourself better about lightning because the hubs are mini banks See https://www.youtube.com/watch?v=MpfvhiqFw7A Hate to say but not only will you wait six months because the miners are having a ball of a time with fees but LN does not do what it says on the box |
Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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