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Author Topic: In the bitcoin network, the fees fell to a record low.  (Read 45 times)
megget
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January 30, 2018, 09:19:48 AM
 #1

So, if at the end of last week to confirm the transaction in the next block it was enough to pay 10-12 satoshi / bytes, then by Tuesday morning this figure decreased almost 10 times.
Such figures are explained by experts as a reduction in the cost of bitcoin, the size of the commission itself and the amount of spam transactions in the network.
Note also, in the bitcoin network, the percentage of SegWit-transactions increased, which help to reduce the amount of commissions. As of Tuesday morning, January 30, their share in the total volume of transactions is estimated at 16%.
Will the bitcoins again have low fees?

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January 30, 2018, 10:35:28 AM
 #2

That remains to be seen...but there is indeed a great reduction in terms of transaction fees compared many weeks ago when fees went to the top of the chart. We have been looking for this and I am personally anticipating coming implementation of the Lightning Network that can cement back the reputation of Bitcoin as a fast and cheap way to transfer cryptocurrency. Now, am really wondering why there is no clear market reaction to the good news already on the horizon for Bitcoin...maybe the gloom sentiment is so thick that positive developments are being set aside. Still, maybe am guesstimating that Bitcoin is just gathering some energy for a big bull run happening soon.


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January 30, 2018, 12:46:23 PM
 #3

The price of the transaction depends on the value of bitcoin. So I'm not surprised the price drop. This system only makes sense for those who earn money in bitcoins. But if people are buying bitcoin for Fiat it is not acceptable. It is high to use bitcoin for purchases in stores. Only trade can foster the diffusion of bitcoin. The solution to the problem of the cost of the transaction remains relevant.

 
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January 30, 2018, 01:08:11 PM
 #4

The price of the transaction depends on the value of bitcoin. So I'm not surprised the price drop. This system only makes sense for those who earn money in bitcoins. But if people are buying bitcoin for Fiat it is not acceptable. It is high to use bitcoin for purchases in stores. Only trade can foster the diffusion of bitcoin. The solution to the problem of the cost of the transaction remains relevant.
It cant really be consider as a payment gateway which bitcoin to be used on such purchases on stores. Its really normal to think and even assume that fees would go eventually low if we do look at on bitcoins price. It is somehow stabilizing or doesn't really signify active transactions is occurring which means less transaction= less congestion= faster confirmation. They wont really retain higher fees if this would be the case.


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January 30, 2018, 07:17:43 PM
 #5

Will the bitcoins again have low fees?

That was the whole idea behind SegWit, and it will drop even further as more and more people adopt it. Those are really good news, it will get BTC back to normal. to the good old days where it was possible to buy a pizza with BTC. It wasn't possible a few weeks ago, when the fee alone was worth several pizzas.

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January 30, 2018, 07:38:10 PM
 #6

Will the bitcoins again have low fees?

That was the whole idea behind SegWit, and it will drop even further as more and more people adopt it. Those are really good news, it will get BTC back to normal. to the good old days where it was possible to buy a pizza with BTC. It wasn't possible a few weeks ago, when the fee alone was worth several pizzas.
What a beautiful scenario or scene which seeing the entire community would adopt segwit. Bitcoin actual usage would really come back as it should be where less fees. When we do try to flashback on where the fees almost reaching out for $100 it isnt really  worth at all to make such transactions. How i wish it would go even more lower.

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