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Author Topic: The reason why bitcoin transaction price was so high  (Read 153 times)
redsuncrypto
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January 12, 2018, 06:38:21 AM
 #21

The cost of bitcoin payments is skyrocketing because the network is totally overloaded

source:http://www.businessinsider.com/bitcoin-payment-mining-fees-hit-new-high-2017-12

In the link above there were some reasons why most bitcoin transaction fee was getting higher and higher and higher

How to lessen your headache because of transact fee:
(this is only the best thing I know feel free to suggest)

Use other crypto so called altcoins instead of just using one crypto that is bitcoin you can try to use ETH,XRP or LTC
because as of today the users of this crypto are not the same as BTC.

PS: if you have any suggestion to avoid or lessen high btc transact fee in your transaction  please just comment it down
that would be a great help to everyone thanks
more power


totally agree with you, fee so high, delay confirmation, low speed transaction is very very big problem of bitcoin. i think we shift to use altcoin  like eth, ripple etc
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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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edsnow2017 (OP)
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January 12, 2018, 06:39:59 AM
 #22

is it possible that because of that. that's why there are some scenario that btc transactions take too long to confirm?
Rajamuda
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January 12, 2018, 06:45:40 AM
 #23

Basically the more bitcoin price increases or leads to a higher price than before.. it surely be the one reason the transaction fees are getting higher, and not only that.. of course due Bitcoin is a crypto coin that's indeed like a king of crypto coins, it could affecting that coin is more special than altcoins / other crypto coins in any things. Not to mention Bitcoin today was increasingly popular among many people from a various countries, all efforts made that related to Bitcoin.. of course, currently it's more providing a high profits given the increasingly high prices from time to time.
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January 12, 2018, 06:54:18 AM
 #24

Think this is the reason why so many Altcoins are gaining in value all of a sudden. People are fed up with the high transaction fees and slow network.  Quicker they fix it the better

Quicker fix is better but they dont implement the lightning network yet and as i know lightning network can make the transaction quicker and lower fee or maybe till zero fee. Thats what i know.

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January 12, 2018, 06:59:46 AM
 #25

Think this is the reason why so many Altcoins are gaining in value all of a sudden. People are fed up with the high transaction fees and slow network.  Quicker they fix it the better

Quicker fix is better but they dont implement the lightning network yet and as i know lightning network can make the transaction quicker and lower fee or maybe till zero fee. Thats what i know.

Do you have any reference about this I also heard about this but I haven't read any blogs
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April 23, 2018, 11:34:33 AM
 #26

due to the enhanced technology promised by Bitcoin through system changes. Bitcoin developers are promising Bitcoin scalability enhancements through a new method called Segregated Witness (SegWit) to provide additional space for more transactions.

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