Bitcoin commission

[signalbitbot]

Hello everybody! I heard that soon the bitcoin commission will be lower, did anybody hear about it? It's true?

[jossiel]

Hello everybody! I heard that soon the bitcoin commission will be lower, did anybody hear about it? It's true?

Do you mean the transaction fees?

Soon it will be lowered when Lightning Network is already implemented. It's on test and we'll definitely going to have lower fees in the future.

https://lightning.network/

[bitart]

Hello everybody! I heard that soon the bitcoin commission will be lower, did anybody hear about it? It's true?

Do you mean the transaction fees?

Soon it will be lowered when Lightning Network is already implemented. It's on test and we'll definitely going to have lower fees in the future.

https://lightning.network/

There are some LN nodes and channels already on the mainnet also. The number of the nodes and the payment channels between nodes are growing day after day, but they're only testing (but with real bitcoins). This needs time to get implemented and to get widespread, so it's not weeks or two weeks.
If we don't count on LN yet, there's another possible short term solution to cut down the fees on the transactions. Using the SegWit type of addresses can help blocks to contain more transactions and this can cause the fees to decrease, but people needs to make their homework and switch to SegWit to get lower fees at the end.

[Cryp2]

I've just read an article in reddit about that issue ,a reply of someone claims  that segwit & Ligntning Network  will really make transaction less expensive .
to read the full article : reddit
PS : I assume u're reffering to transaction fees

[Vladv26]

Yes, it is true but we dont know when it is going to happen. I think you are referring at Lightning Network wich is a technology that allows bitcoin transactions to be confirmed faster at a much lower price(they say 0.5$ for every transaction). The developers are working at this project since last year but there is no date announced when it will be launched because they dont know how much it will take. It could take a week or a year until it is going to be released. So for the moment we have to stick with this huge commission. We cant do anything

[jossiel]

Hello everybody! I heard that soon the bitcoin commission will be lower, did anybody hear about it? It's true?

Do you mean the transaction fees?

Soon it will be lowered when Lightning Network is already implemented. It's on test and we'll definitely going to have lower fees in the future.

https://lightning.network/

There are some LN nodes and channels already on the mainnet also. The number of the nodes and the payment channels between nodes are growing day after day, but they're only testing (but with real bitcoins). This needs time to get implemented and to get widespread, so it's not weeks or two weeks.
If we don't count on LN yet, there's another possible short term solution to cut down the fees on the transactions. Using the SegWit type of addresses can help blocks to contain more transactions and this can cause the fees to decrease, but people needs to make their homework and switch to SegWit to get lower fees at the end.

Appreciated your addition to the info.

Regarding with Segwit, it's starting to gain popularity throughout the forum and it's a good alternative to cut off fees while waiting for the LN result.

There must be some sticky thread or someone who's more knowledgeable will create a thread that's more info about Segwit.

[TooDumbForBitcoin]

Bitcoin protocol will be also improved by Schnorr signatures method to cut size of transactions https://medium.com/@SDWouters/why-schnorr-signatures-will-help-solve-2-of-bitcoins-biggest-problems-today-9b7718e7861c

[Vinarianty05]

I think you are referring to Lightning Network which is a technology that allows bitcoin transactions to be confirmed faster at a much lower price (they say 0.5 $ for each transaction)

[Jating]

Hello everybody! I heard that soon the bitcoin commission will be lower, did anybody hear about it? It's true?

Yes, soon the high cost of transaction fee with be reduced. Its gonna be cheap, actually with Segwit address its already quite cheap already but when Lightning Network goes into effect, we will see drastic changes in terms of speed as well.

I suggest you read about Segwit and Lightning Network (LN) so that you will have a better idea on how this new scaling solution could potentially affect bitcoin's price in the next coming months.

[NuttyOrange]

I have been asking this all the time. Let's say LN had finished its testing phase and ready for implementation, would the public adapt to it? I mean the mining pools, common investors, trading platforms.

[barabut]

In the coming years we will see for sure the underlying bitcoin technology, high speed and high volume transactions with fewer fees by the LN start implementation. Currently the bitcoin price vs. the fees are expensive and this comes out of its scope.

[BrewMaster]

I have been asking this all the time. Let's say LN had finished its testing phase and ready for implementation, would the public adapt to it? I mean the mining pools, common investors, trading platforms.

it is a cool technology with a lot of benefits, so yes they will adopt it and adapt their setups to match LN requirements.

i don't think mining pools need it.
the common investors, specially traders, and also gamblers, and generally those who make a lot of transactions too often will be the biggest fans of Lightning Network.
for example one of the obstacles a trader faces is that they can't leave their coins on exchanges because of risks but also transferring bitcoin to an exchange takes time so you can miss a lot of opportunity. with LN this will be instant and with nearly no fee.

and by the way it is already being adopted! there are nearly 250 LN nodes which started nearly a week ago