Bitcoin use for transactions are getting low

[masterbt]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

If small transactions not approved fast then many will move out, leaving big fishes take out all money and we are facing a downfall.

Fees and confirmation time has to be reduced in some way.

[davis196]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

I think that the relation between transaction volume and transaction fees is the opposite.
The more transactions,the higher the transaction fees.The number of transaction increased actually during the last month,so the fees increased as well.There aren`t many websites where you can spend your btc.
Big platforms like Steam and Fiverr cancelled bitcoin purchases because of the high fees.

[hakimovic]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

it's the opposite when the demand and the number of transaction increases the fees go crazy and the blocksize also go up . Bitcoin is still having the problem of scalability and if people hold that wouldn't effect the market really ,what would effect it is if institustions started to accept bitcoin and hold.

[Glutius]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

You are right, maybe the price will decrease if there are more transactions, but if bitcoin continues to go up in price, the transactions will also go up. It's a vicious circle.

[alyssa85]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

Many of the noobs who have bought, have done so via Coinbase, and are still blissfully unaware of bitcoin's scalability and fees problems. It will take a few months for them to realise it is unusable. At that point they might switch into an alt, if they've caught teh crypto bug, or cash out into fiat and give up on crypto.

[snipetr]

In my experience, many sites increses there transaction fees due to high demand for there site, directly proportional way i.e. increase in transaction fees with increase in number of transactions.
So due to this high transaction fees, people's hold bitcoins and wait for increase in price. And that is obvious, why one will do trasactions by spending that much high fee?

[Kprawn]

This is why some of us are spending about 20% of all the bitcoins we buy. If you would have spend say $1000 {Fiat} on

something and you can spend that with Bitcoin, why would you not do that? You would be helping to support merchants that

supports Bitcoin. We are actively looking for merchants in our area that accept Bitcoin and we {recruit}  new services all

the time. If I buy beer over the weekend? Then I take that budget and convert it to bitcoins and then buy that beer at a

merchant that supports Bitcoin. 

[Iranus]

If there is many transaction then automatically fee will be reduced due to large number of transactions.

Clearly you need to spend some time reading about how Bitcoin works. 

There cannot be more transactions confirmed unless the block size is increased; another method of increasing capacity is implemented; or the average size of a transaction in bytes decreases.  As it is, blocks are pretty much all full.

I'm fully in favour of spending BTC in merchants when it's practical to do so, but the vast amount of transactions being sent for speculative purposes is making it far less practical.

[Shamie1002]

You're a bit too early discussing things like this on your own my friend. I find it hard to believe that you understand the relationship between demand and supply to the movement of prices in the market. Also, the movement of fees in relation to the size of bytes per transaction.
Study hard buddy, I remember myself when I was in your place. Difficult at first.
As an explanation, like what others have said, the more transactions made, the higher the fees. More transactions causes traffic. That is why there are fees needed to accelerate some of the transactions to be confirmed or just wait for it like a traffic enforcer. Get that ?

[Siren]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

Yes I agree with your statement. Bitcoin today is being used not for small transactions but rather for storing of wealth. Its a far cry from what the original designed by Satoshi. And unless the high tx fees and slow confirmation time is solve, it will take some time before we can really used it to pay someone from the other side of the planet.

And maybe this is the main reason why online retailers like Amazon, Ebay and even the rumored McDonalds is still not getting into bitcoin. Even Steam already stopped accepting bitcoin because of this reason.

[Wulanayu]

I think you are very wrong, the more transactions the cost will increase and bitcoin will also increase rapidly as more and more demand.
if more and more hold the bitcoin I think bitcoin will drop slowly, because surely many are switching to another coin.

[masterbt]

You're a bit too early discussing things like this on your own my friend. I find it hard to believe that you understand the relationship between demand and supply to the movement of prices in the market. Also, the movement of fees in relation to the size of bytes per transaction.
Study hard buddy, I remember myself when I was in your place. Difficult at first.
As an explanation, like what others have said, the more transactions made, the higher the fees. More transactions causes traffic. That is why there are fees needed to accelerate some of the transactions to be confirmed or just wait for it like a traffic enforcer. Get that ?

You seems to be misunderstood my point, When transaction increases there will be more earning for miners. Thus, they will pass the transaction quickly, if the transactions are less then they will put a high price to approve a transaction.

More transactions causes traffic but earning and demand increases the mining capability as well.

I understood what you are saying, there are many accepting my point as well.

I think you are very wrong, the more transactions the cost will increase and bitcoin will also increase rapidly as more and more demand.
if more and more hold the bitcoin I think bitcoin will drop slowly, because surely many are switching to another coin.

If the small transactions are not passed with less fee this will die quickly.

[masterbt]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

I think that the relation between transaction volume and transaction fees is the opposite.
The more transactions,the higher the transaction fees.The number of transaction increased actually during the last month,so the fees increased as well.There aren`t many websites where you can spend your btc.
Big platforms like Steam and Fiverr cancelled bitcoin purchases because of the high fees.

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

it's the opposite when the demand and the number of transaction increases the fees go crazy and the blocksize also go up . Bitcoin is still having the problem of scalability and if people hold that wouldn't effect the market really ,what would effect it is if institustions started to accept bitcoin and hold.

The main problem here is the fees, if that is not lower down then there will be no one accept bitcoin and eventually big fishes cash out and put medium holders in dark.

[jesusvs_dots]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

I think that the relation between transaction volume and transaction fees is the opposite.
The more transactions,the higher the transaction fees.The number of transaction increased actually during the last month,so the fees increased as well.There aren`t many websites where you can spend your btc.
Big platforms like Steam and Fiverr cancelled bitcoin purchases because of the high fees.

Indeed is the opposite, currently there are so many ongoing transactions that the amount of miners can't handle them.

[carrash912]

I think everyone wants to hold a bitcoin. Because from now to the end of the year, with such growth momentum, bitcoin can increase more. so what should not hold

[ShortCoins]

The main problem here is the fees, if that is not lower down then there will be no one accept bitcoin and eventually big fishes cash out and put medium holders in dark.

Yup. Small and medium size investors are about to get squeezed out of the picture

[mandro]

Bitcoin is rising too high and this is the trend of emerging investors.

[btcjoin14]

I think everyone wants to hold a bitcoin. Because from now to the end of the year, with such growth momentum, bitcoin can increase more. so what should not hold

A lot of people will be trying to keep their coins. There won't be that many people that can afford to purchase a whole Bitcoin soon.

[jhongzjhong]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

I agree with you dude, maybe bitcoin created just for earning or being profitability not for transaction method. Bitcoin fluctuated depend on the demand and supply of the coins, high demand less supply, and if less supply many holders of bitcoin and also transaction will too slow. So they think now much better to hold than to spend their bitcoin at this scenario. This is make bitcoin so delayed and have traffic in every transactions.

[plr]

Many are holding the bitcoins rather than spending it. If there is many transaction then automatically fee will be reduced due to large number of transactions. But, many are just holding it to get gain. if this trend continues, we will see a fall sooner or later.

You have a point we should encourage people to use bitcoin to buy stuff online and offline because this is what bitcoin is intended to use this is not meant to hoard bitcoin it will drop soon if these trends continue but who can stop these people from holding bitcoin everybody wants to make money of course.