Whats the future of bitcoin with these high fees?

[JL421]

$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?

Compared to other investments there are many other factors such as safety, depreciation along with various fees respectively, Bitcoin's only major problem is high fees, this fees will eventually go down and while making huge transactions fees is very nominal.

[aji567]

The future of bitcoin is sure to be sunny rising bitcoin price is definitely very safe security done more tightened I think.

[PeRo]

The problem is getting fixed soon, fees were better two or three days ago, I could send a 20$ transaction with a 1$ fee. I guess the number of unconfirmed transactions got bigger. If the lightning network gets activated the problem would be solved much faster than waiting, without the lightning network maybe it wont even get fixed.

[Argoo]

Commission fees for Bitcoin transactions are now too high. For this, as well as for the slowness of bitcoin in transactions, it is fairly criticized. However, the network of lightning on the bitcoin has already been tested, which should eliminate all these existing bitcoin problems. The lightning network makes it impossible to wait for confirmation of the transaction and therefore they will be implemented very quickly. In addition, it will be possible to make transactions for small amounts and commissions for them will cost less than one dollar. Let's hope that from the New Year this network will work and bitcoin will lose these its shortcomings.

[Reid]

Then what do you want?
For bitcoin to go back to $300 so that you wont feel the transaction fees?
If only we didnt cause any traffic in the blockchain then it would still be okay.
Look we are getting populated and a lot of the tx are just small ones and small fees. Then who will be prioritize with that?
If only they werent there then miners will have no choice but to claim every tx that is there.
This will happen with every coin that will be populated.

[Tamim121]

This matter is worried in this time. Because of fees users are suffering much even sending small amount. I think fee is increasing because of high bitcoin price. I hope that it will correct as soos as possible.

[BTCforJoe]

I don't think a lot of new people to bitcoin realize how fees work. Just because you send $20 in fees doesn't mean that the miners will confirm your transaction before others. $20 fees for a transaction of 3 BTC? Yeah, chances are that your transaction will be stuck in the mempool for a while.

Fees are based on a satoshi per byte basis, so they're relevant to whatever amount of bitcoin you're sending. So for those of you saying that you had a transaction cleared with only paying $10 for a fee, shut up lol. Try sending 0.5BTC with a $10 fee...

It's sad that the miners ultimately control the transaction fee, and being that there are many of them, the competition of "transactions going to the highest bidder" is one of the biggest flaws of Bitcoin. I like how so many people are saying that this will be fixed soon.... How, really? By forking to a new "Bitcoin" again?

And for the Bitcoin Cash nut riders that say BCH fees will always stay low; don't be so naive. There's no protection in place from this happening on the BCH chain, either.

[melted349]

    The bitcoin value is still high and i think time will come the transaction fees will getting lower. I think the fees are high because they knew that there is still a greater demand of bitcoin. But it is okey even it is high fees as long as there is still a profit.

If thats the case ,theres no such argument to be concealed with that, you high fees lessen the amount that we may get from the profit that we work on, I have experience this thing already I have gain a little yet the fee costs a lot and it almost take wthe 45% of my money, such a total loss to me , I hope this will end soon.

even we have been experience the high fee on it then this is not a reason of taking that for , even you have made that you are able to have some choices for on how you are able to make some strategy of having this high fee cause we just have to take the regulation and all of us experience that the strategy is on you how you are able to skip that.

[pri3oner]

The whole price and fee costs to be corrected in the near future. 2017 has showed us the potential of quick growing therefore is reveals all the cons it has. We gon improve the situation to get more pros!

[kadutz25]

I hope with this high price it can benefit me and the team because we have some coins that I can sell at current prices and hopefully this will benefit us

[fatalbert]

Here's an instant fix. Use Bitcoin Cash. Problem solved. 20 Satoshi's vs. BTC 500-1000 Satoshis, aka cents vs. $20.

[BTCforJoe]

Here's an instant fix. Use Bitcoin Cash. Problem solved. 20 Satoshi's vs. BTC 500-1000 Satoshis, aka cents vs. $20.

There he is. It only took 4 posts before someone undoubtedly called out Bitcoin Cash as the answer to high fees.

You do understand that BCH's chain isn't protected from this same scaling issue, don't you?

[Fire Rabbit]

$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 you are right. Nowadays the transaction fee is really high and its has become impossible to use bitcoin for purchasing low value goods. Use bitcoins only for transferring high value transaction. For small payments try to use bitcoin cash. Hope this fee problem will be solved soon when lightening network is implemented.

[Crypto_Happy_Sad]

The Bitcoin voice is spreading out like Wildfire and lot of people coming into the CRypto world and are HODLING the coins expecting long term high returns ! Totally agreed with the High fees which is a pain for all the Crptoers ,considering the growth there should be a chance implemented to reduce the fees ! Hopefully everything will fall in place.

[Valentina N]

Hello author you know it's not fairy tale and it's life where something can be not as you want. I think in the future this problem will be maximal solved of course not free transaction but minimal!

[Calligiato]

Big uncle must see there are more avaliable options for ppl...

[fatalbert]

Here's an instant fix. Use Bitcoin Cash. Problem solved. 20 Satoshi's vs. BTC 500-1000 Satoshis, aka cents vs. $20.

There he is. It only took 4 posts before someone undoubtedly called out Bitcoin Cash as the answer to high fees.

You do understand that BCH's chain isn't protected from this same scaling issue, don't you?

Who cares.

"Here's an instant fix." BCH. That is a fact.

[Eduardo33]

As long as fees are high, it's only good for large transactions.

[Scripture]

And addition to this is the continually taxing of countries to bitcoin. There is a positive and negative effect on everything. Bitcoin helps many people, but when its price gets high, may government and channels taking advanyage on it by taxing it and propose high fees.

[Qartersa]

As long as fees are high, it's only good for large transactions.

That is quite true. There is no future for bitcoins if the fees are this high. Imagine if bitcoins has already gone mainstream and you have to pay $20 for just a $1 transaction, that would be inefficient and quite expensive for everybody to use bitcoins as a medium of exchange. I think though that this will either pass or that the network will be again upgraded by the developers. As of now, the network can't really handle the level of transactions we are getting. Though I can't say this is completely the result of the increase in legitimate transactions, I do think there is still some level of attack going on the network causing the slow down we are experiencing today.