Whats the future of bitcoin with these high fees?

[Kotone]

$20 fee for a $120 payment!
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.

Is bitcoin going to get fixed and make itself an easy and cheap payment method again?

HAVing bitcoin being regularized is much more worse I think especially with the fees as it is now I think that we have to bear this burden much more further as it is sill not being regularizef. A Little patience would be sufficent especially with the burgeoning prices of hitcojn

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[NoSkyLimit]

Well value of bitcoin is still high , so fees are high also. But with these high fees I don't see good days for bitcoin in the upcoming future.

[Anti-Cen]

I think bitcoin value is staying because there is more users of bitcoin who are holding it for long terms and have no intention to sell the coins

Yes i am sure it's different this time if we can keep finding new excuses and the black tulips with yellow tips in
1634 were doing better than other tulips but flowers are use to brighten the place up and money or currency
has a job of moving wealth from A to B so that's a nice theory but it's wrong

Draw a graph and plot the recent rise in fees against the price and also note that BTC is making bad press for
the other coins too so the party might we wilt on the vine if they don't fix this darn fats too.

[boyshx]

Bitcoin was created by Satoshi Nakamoto to reduced problems faced by common people performing banking transactions. Its main purpose was to reduce charges and save money and time. This basic platform of bitcoin is now destroyed by the transaction charges of bitcoin. With rising price of bitcoin, transaction charges are also increasing. If things remain same in future investors may get diverted to some other investment options. Because charges was the main issue with other investment tools.

[dificanovi]

bitcoin transaction prices are expensive because bitcoin prices are also increasingly expensive.
I think it's a natural thing, people who invest bitcoin will still benefit because bitcoin prices are more expensive.

[danpaz]

Indeed if we cannot do something to fix it it will be useless and unpractical to use bitcoin,
Hoping that Bitcoin  developers will push all possibility to improve Bitcoin transaction speed and transaction cost.

[kiboloves]

Yes, it really needs to be corrected as soon as possible. For small transactions, the cost is really too high. We hope to find a perfect solution to both the cost and the lightning deal in the coming year of 2018.

[putrii]

$20 fee for a $120 payment!
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.

Is bitcoin going to get fixed and make itself an easy and cheap payment method again?

yes of course how not if the price is more expensive then the shipping cost will also be more expensive and the transaction will also be denser which causes bitcoin delivery to be very long, we can use altcoin that can replace the role of bitcoin and shipping cost is also cheaper.

[Swenna]

Well value of bitcoin is still high , so fees are high also. But with these high fees I don't see good days for bitcoin in the upcoming future.

However, no matter how high the transaction fees are, a lot of people will still transact because of a lot of reason. However, in terms of transaction, in my case, I haven't encountered a transaction that has a really high amount such as yours. I have already sent an amount of 0.1 bitcoin before and the only amount I used for transaction fee is 0.0001. It took atmost 24 hours, but still, that wasn't so bad.

[guybrushthreepwood]

Yea I think this is something they need to fix ASAP I think it is the NUMBER 1 problem with bitcoin.... This is supposed to be a currency to use to transact globally not "gold" if I wanted gold I'd buy gold these developers need to move their ass and fix this issue YESTERDAY. It is basically stupid to transact in bitcoin right now LTC is the way to transact as of right now especially if your paying for low value items...

I don't disagree that the fees and scalability are the biggest issues right now but bitcoin can be both a currency and an investment and people can either use it to transact or hold it as a gold-like commodity if they want. The way it was designed was even compared by satoshi himself to essentially being similar gold with mining in the bitcoin whitepaper:

The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation

And for that reason I think bitcoin could become some sort of digital gold and pretty much one of the only reasons the price is so high right now is because people are speculating on its future value due to the fixed amount that will ever be in circulation (like gold). If people were only just going to use it as a currency then I don't think it would be worth as much as it is now but it's the future potential that people are investing in so that's why I think bitcoin is both a currency and a commodity like a digital version of gold which I think it a good thing if you can handle the fluctuations.

[Farma]

well, I guess the fee in the bitcoin transaction really makes all bitcoin users uncomfortable. but, to get a fast transaction, in need of a large fee. well, I just hope that in the future, the fee from bitcoin is really reduced.

[jekanmasin]

bitcoin was really get a really high fees. it was so ridiculous to lose a lot on fees.. i have to sell bitcoin to other coin if i wanna to sell it rather transferring bitcoin to another place. it will be more cheaply for me. 

[heringasem]

$20 ?  You are still on the past my friend, the fees are much more expensive that just twenty bucks, they are 0.0017 btc, aproximately more than $28 at this moment. It really needs to get lowered asap.

[Rana590]

This is a worried matter in this time. Fee is not negotiable now and user is suffering much for sending small amount. But we see it, price of Bitcoin is not low. It is increasing day by day and for this reason fee is also increasing. Hope it will correct soon.

[Snub]

Bitcoin was created by Satoshi Nakamoto to reduced problems faced by common people performing banking transactions. Its main purpose was to reduce charges and save money and time. This basic platform of bitcoin is now destroyed by the transaction charges of bitcoin. With rising price of bitcoin, transaction charges are also increasing. If things remain same in future investors may get diverted to some other investment options. Because charges was the main issue with other investment tools.

I completely agree with you. Such high fees can gradually destroy interest in bitcoin, which will entail many problems.

[Catch-22]

What affect these high fees are small investors, like you said $20 for $120 transaction.  But will the $20 matter if it's the 1 btc transaction?
We could only hope that these fees will be lower the soonest and if the slow transaction will be fix also, that will be great.

[nellakarisma]

I think it does not matter with it because bitcoin itself also has an increase so there will be a balance so there is no loss that makes us into someone who is distressed

[redhondaxrm125]

$20 fee for a $120 payment!
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.

Is bitcoin going to get fixed and make itself an easy and cheap payment method again?

Indeed it does. Which is why a practical decision is to not use bitcoins as a tool for payment and only make transactions when you are looking to transfer big amounts or if it is for urgent emergencies.

If it lost its money feature, i think i may abandon it. Since i am after the coolness of using a crypto currency. If earnijg is what people want, they can do so and have even more investing in promising ICOs rather than investing in bitcoin. But still, i am not sure with my decision. Gues I'll just have to wait and see till this happens.

I think so, because i have been hearing a lot of this ligjtning network trying to fix the issues regarding bitcoin transactions. Would be pretty nice if this fix happens sooner.

[ReLieD]

Exactly dude ! I'm done with paying such high fees. The first transaction I had paid around 2 weeks ago still didn't confirm . I had paid around 1 USD and that was my biggest mistake. I don't know how long it is going to take now .

[poplolnman]

everyone has this problem of paying high rates, I was angry myself these days because I paid 0.002 btc of fee and as if that was not a big loss I had to pay a 1% fee and I had to pay another  $25 of the rate, I transfer  $1000 for my country and I pay  $200 of fee... it would be very good if they solved this question of high fee to minimize my situation

$20 fee for a $120 payment!
These fees make using bitcoin unpractical.

if you transfer money to your visa card, you pay a very large fee. $350 and they charge a fee of $30

Is bitcoin going to get fixed and make itself an easy and cheap payment method again?

one day these problems will be corrected

Don't know if lightning network could be activated soon and solve this problem, all I can believe is that the scalability problem would always be a serious threat for bitcoin existence itself. People could move to other crypto currency when they feel it's not worth to wait it gets solved anymore.