Bitcoin use for transactions are getting low

[budz0425]

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.

The demand is just continuing to increase and if they will hold it, it is their choice we cannot control it, afterwards they will still spend it in the future so it is normal, if I have a lot of money I will do the same to hold my bitcoin as much as I can so I can earn a lot more that what I am earning in my current job that don't give much or don't return my efforts.

[teilwalL05]

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.

If it is a newbie then they might switch to a different coin after this kind of event, but if it is a veteran then they will keep on the bitcoin flow, I really think there are still many buying for bitcoin and are really aware of the scalability and high fees but they can sure understand the situations they are getting at, at investing with bitcoin there is a risk involve with it, and I think newbies needs guidance on how is the right way to earn, and knowledge is the possible solution for this.

[audaciousbeing]

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.

People naturally would pursue the one that would bring the most profit to them and they would prefer not to spend now then wished they had wait a little longer because the value has increased greatly since the last time. Just like the evolution of coins when it was made with gold people would hoard and then mine because it worth more than the face value of it. There is nothing we can do about that even in fiat, while some are spending their money others are keeping to generate more money.

Whether that will reduce transaction fees, is something I doubt happening. There are several transactions that have happened that takes several days to confirm and the fee didn't even reduce what would then happen if transactions are doubled it would run to weeks to confirm. Other ways to reduce fees are welcome but not increase in transactions.

[heureca]

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.

Yeah, I agree that currently a lot of people just hold BTC. At the same time a lot of BTC transactions are performed every day - new investors, traders and etc.

[alani123]

This comes as no surprise. As bitcoin rises in value using it to transact value just keeps getting more and more expensive. It's no longer convenient to use BTC to transfer small amounts of cash but other alternatives are coming in to fill the gap temporarily. We're hoping that solutions like the lightning network will have a bitcoin specific solution to the issue on the longer term but needs more testing still.

[fullhdpixel]

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.

I am very much sure that the market value of bitcoin will keep on going up and because of this, the transactions will also go high. This is just the start and there is still lot more to come. Bitcoin is going to make a great name in the world and it will give much benefit to all those who will get associated with it one way or another. Moreover, we may also see bitcoin getting legal across the entire world.

[jseverson]

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.

Do you have a figure you would like to cite? Steam did drop Bitcoin as a payment option, but other than that there hasn't been many news in that end.

You also got the relationship between transaction fees and transactions backwards. When there are no transactions in the mempool, you have instant priority. You could probably get away with not paying a fee. If there are a lot, then you will have to outbid everyone else's transactions to get quick confirmation.

Small transactions haven't been viable for Bitcoin for a while now and it's as strong as ever. It's still quite ideal for larger transactions, at least.

[Saftention]

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.

best way to accept using 2x will reduce price more.

also we can stop sending bitcoin until number of unconfirmed transaction down

[Lingqingyi]

In fact, the number of people who use bitcoin to do business is not so much as before, and more of it is as a kind of speculation, but more people are speculating, resulting in more handling fees.

[Usafstar]

beside all these i think the bitcoin is used for transaction are getting low because of the other coins the people are also moving towards them they are buying altcoin for making future gains. but with this all we like to use bitcoin for many transactions in the past and now in the future. some time the demand for bitcoin are very high due to which the transactions will automatically high.