Bitcoin fees are reducing?

[peterthegreat]

I think Bitcoin fees have reduced recently. Is it due to Segwit?

[alyssa85]

I think Bitcoin fees have reduced recently. Is it due to Segwit?

They ARE reducing, only about 29,000 transactions in the mempool now, down from over 200,000 in mid December:

https://dedi.jochen-hoenicke.de/queue/#24h

I think two things are happening. Bitcoin's price was at an all time high in mid December and a lot of those transactions were from people hurriedly sending coins to the exchanges to cash out. Now that the price has fallen, people are hodling again.

Also - I'm pretty sure a large exchange has started batching transactions. It might be Coinbase, who announced in early Jan that they were looking at doing this. In December about 50% of the mempool was just Coinbase and GDAX transactions, so if they're batching, that's a big reason the mempool has cleared.,

[abded1]

that's will be one of the causes , that because of it bitcoin will explose these year
because it will be more useful

[peterthegreat]

I think Bitcoin fees have reduced recently. Is it due to Segwit?

They ARE reducing, only about 29,000 transactions in the mempool now, down from over 200,000 in mid December:

https://dedi.jochen-hoenicke.de/queue/#24h

I think two things are happening. Bitcoin's price was at an all time high in mid December and a lot of those transactions were from people hurriedly sending coins to the exchanges to cash out. Now that the price has fallen, people are hodling again.

Also - I'm pretty sure a large exchange has started batching transactions. It might be Coinbase, who announced in early Jan that they were looking at doing this. In December about 50% of the mempool was just Coinbase and GDAX transactions, so if they're batching, that's a big reason the mempool has cleared.,

Coinbase has not started batching yet but its good other exchanges have started doing that. What do you think of segwits impact?

[pawanjain]

Yes the bitcoin transaction fees have reduced too much now and it has become back to normal now which is a good sign of stability. Wee can expect it to rise in price again since the low fees might attract the users again. Many people sold their BTC just because of the ridiculously high fees charged for making transactions. Now that everything is back to normal we might see a gain  again. This might be the spike we were waiting for since the price fall of BTC

[alyssa85]

Coinbase has not started batching yet but its good other exchanges have started doing that. What do you think of segwits impact?

It must be another exchange that has started batching then, because the drop in the mempool is dramatic.

Segwit use is still only around 20%, so it isn't big enough yet to reduce the mempool by 80%. It must be something else.

[BubblySheep]

This is really great news.. I was hoping for a solution for the fees and it looks like Coinbase and other similar services took it upon themselves to help with this.. At least we can still use Bitcoin as an effective and cheap payment platform again.

[kuntet99]

I think Bitcoin fees have reduced recently. Is it due to Segwit?

yes we wait aja hopefully the cost is not deficient, right we also do not know maybe belom har har

[ezbreezy08]

I think Bitcoin fees have reduced recently. Is it due to Segwit?

I think so?? Maybe? but i read some articles that they are on test net they implement Lightning Network already and i hope that the transaction will reduce fees.

[kueyen]

This is really great news.. I was hoping for a solution for the fees and it looks like Coinbase and other similar services took it upon themselves to help with this.. At least we can still use Bitcoin as an effective and cheap payment platform again.

Although it is good news, it simply due to the conjecture and not due to any improvements on bitcoin's part. Unless lightning network gets implemented, we are never going to reach low fees and high speeds which would enable bitcoin to become a payment method for daily use.

[Rinsend]

segwit is one of the causes of transaction fee reduction.
I think some segwit in launch because want to anticipate the problem of fee and now proved successful.
with reduced cost of bitcoin transcription is already in the sure that the use of bitcoin will burst again
and cause the price to return high

[ReindeerOnMe]

Then I guess it is being ready for the new pump that will happen in this year. If the fee reduces, then the possibility of it being transacted will also increase and that will be a great news. I just hope it is true and it will be really implemented since there are a lot of bitcoin users that are having a pain out of these fees.

[SiDtHeBeSt]

Yeah, they are obviously reducing. It is the result of lower traffic. When the value was reaching crazy heights, the number of investors kept on increasing, which resulted in a very high traffic and high fees, very long confirmation period. Now, due to the dip, alot of people cashed out and I don't think alot of them would be investing again anytime soon.

[sharted]

Then I guess it is being ready for the new pump that will happen in this year. If the fee reduces, then the possibility of it being transacted will also increase and that will be a great news. I just hope it is true and it will be really implemented since there are a lot of bitcoin users that are having a pain out of these fees.

Yes Segwit is the one of the reason for bitcoin fee reduction.Due to this fee reduction,many transaction may occur.And which in term increase the price of bitcoin as compared to current situation.

[Sasuke102001]

Yea the transaction fees have gone down and are back to normal as it was before, I recently did a transaction with 47/byte and surprisingly it didn't take much time. This is a good sign of stability and we can look forward to the increase in the price of bitcoin. Many users who shifted to altcoins for transaction issues may also come back to bitcoin now.

[reda]

Yea the transaction fees have gone down and are back to normal as it was before, I recently did a transaction with 47/byte and surprisingly it didn't take much time. This is a good sign of stability and we can look forward to the increase in the price of bitcoin. Many users who shifted to altcoins for transaction issues may also come back to bitcoin now.

Bitcoin pricess now incres and most of the people use for future invest and improve business process. Bitcoin process is changing. So if you will sell coin it will increas the prices for the trading process. Now People will be wait for the prices incres for the change the bitcoin for other currency. So people waiting for prices increas. One increas the prices and compete the trading process on time. You fees is low on time.

[bigmaster23]

We can all experiencing somehow again the stabilised P2P network system we all used to know, this is perfect sign for investor come back to the match.  

[prins]

Fees need to reduce even more. Fees had become very high and caused problems for many people.

[Washball]

Transaction fees seem to have lowered, maybe due to Segwit, but probably there's some other reason. Lightning Network still is in a test phase, although some people already sent transaction on the Network, so it's neither because of LN. The point is, the price is increasing again, that's what we're waiting for.

[Rubble898zaitO]

Yes, it did. It reduced and is still reducing. One of the possible reasons is Segwit. Plus the low volume of transaction/traffic. I hoe this is the answer since high fee cost has been a hassle to every Bitcoin enthusiast.