Are heavy fees and transaction delays in BTC causing crypto market to fail?

[supermine]

Please correct me if I am wrong but isnt Eth cheaper to send than bitcoin and faster?

We are the one going to set the fee for the crypto currency transaction so you can set low fee for the bitcoin transactions too,the confirmation time will be based on how much your fee is going to be,the higher is the fee then more quicker your transaction will be confirmed.ETH transactions are also same the transaction priority will be based on gas you going to set.

So the fee is the key thing which can decide that your transaction will be faster or slower.But now the tranffic in the blockchain much got cleared and people started to use SegWit address too which can perform the transaction quicker than the legacy one.

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[shahzadafzal]

On Kraken, you can buy quite a lot of major crypto directly with fiat.  So I don't think that this matters.  Moreover, if you buy "BTC" on an exchange, you are actually only buying an exchange IOU.  Nothing happens on the block chain, and no miner fees are paid for.  The fee is only paid when you "withdraw" your coins, that is, when you nicely demand your exchange, to send you real BTC or other when you try to redeem their promise (the IOU).  Until then, no real crypto coins are handled, all this is just on the web site of your exchange. 
So if you buy a BTC IOU, and you then exchange that BTC IOU for Zombie Coin IOU on the same exchange, I don't see how the high fees on the BTC block chain that has nothing to do with this, has anything to do with what you're doing.

Of course, if you want to buy BTC on exchange 1 and send it to exchange 2, you have to pay twice a block chain fee.  This is why it is a bad idea to use BTC for that.  Use something like LTC or BCH or another cheap fee coin, it is much cheaper.  The actual price of LTC doesn't matter.  The only thing that might matter is the volatility between you exchanging your BTC IOU into a LTC IOU, withdrawing them, receiving your LTC from exchange 1, and you depositing your LTC on exchange 2, and exchanging the LTC IOU into a BTC IOU.  LTC being a very fast chain, the price change (the volatility risk) should be small.   You are only exposed for about 10 minutes or so to LTC volatility.  Whether LTC trades at $1 or at $1000, doesn't matter at all.  The amount of BTC you had on exchange 1 will be close to the amount of BTC on exchange 2 ; if the two trade fees on the exchange are small compared to the BTC block fee, you win on fees, it is faster and smoother.

Thank you so much, really I never thought of this instead of sending BTC directly we can covert to any other coin and send it and later convert back to BTC to cash it, it makes transactions faster. Thank you so much. I like the idea.

[Kakmakr]

I am going to throw a spanner into the works here, by saying that the high fees are cancelled out by the huge profit you make, when the price skyrockets. Last year a lot of us <early investors> made more than 800% profit in one year. <If you only bought 1 coin in January 2017 and sold it in December 2017, then the profit on that one coin, would have been +/- $18 000. ^smile^

Ok, the concept is flawed if you were late to the party, but future profits might cancel out the high fees that you are paying now. Just throwing it out there, but I know it will trigger some anger and counter arguments. <Just playing Devil's advocate here>  

[shahzadafzal]

I concede that the concept of probabilistic payments probably has been "on the shelf" for a while and not much has happened.
However, the concept has recently resurfaced in conjunction with the Lightning Network.

Take a look at the following paper:
https://courses.csail.mit.edu/6.857/2017/project/7.pdf

Wow the solution is already here...!!! its not implemented? or who is stopping this? I really don't know how it works if there is consensus they should for lightning network.

But really can someone tell how this decision making thing works? like who decides what technology should be implemented or rejected specially in case of Bitcoin issues?

[diwataluna]

Many of the new altcoins are trying to address the problems you mentioned. There is certainly a disadvantage right now as more people buy and sell or pay, but that is the purpose of updates to the system as well as new networks launched. Many in my country currently use p2p because of the high fees and slow transaction times when the networks are busy. But I know these will be addressed because devs know the survival and dominance of their crypto depends on these issues being solved.

[drwhobox]

Please correct me if I am wrong but isnt Eth cheaper to send than bitcoin and faster?

Yes Ether is much more faster than Bitcoin when it comes to transacting payments from peer to peer.

On Kraken, you can buy quite a lot of major crypto directly with fiat.  So I don't think that this matters.  Moreover, if you buy "BTC" on an exchange, you are actually only buying an exchange IOU.  Nothing happens on the block chain, and no miner fees are paid for.  The fee is only paid when you "withdraw" your coins, that is, when you nicely demand your exchange, to send you real BTC or other when you try to redeem their promise (the IOU).  Until then, no real crypto coins are handled, all this is just on the web site of your exchange. 
So if you buy a BTC IOU, and you then exchange that BTC IOU for Zombie Coin IOU on the same exchange, I don't see how the high fees on the BTC block chain that has nothing to do with this, has anything to do with what you're doing.

Of course, if you want to buy BTC on exchange 1 and send it to exchange 2, you have to pay twice a block chain fee.  This is why it is a bad idea to use BTC for that.  Use something like LTC or BCH or another cheap fee coin, it is much cheaper.  The actual price of LTC doesn't matter.  The only thing that might matter is the volatility between you exchanging your BTC IOU into a LTC IOU, withdrawing them, receiving your LTC from exchange 1, and you depositing your LTC on exchange 2, and exchanging the LTC IOU into a BTC IOU.  LTC being a very fast chain, the price change (the volatility risk) should be small.   You are only exposed for about 10 minutes or so to LTC volatility.  Whether LTC trades at $1 or at $1000, doesn't matter at all.  The amount of BTC you had on exchange 1 will be close to the amount of BTC on exchange 2 ; if the two trade fees on the exchange are small compared to the BTC block fee, you win on fees, it is faster and smoother.

Thank you so much, really I never thought of this instead of sending BTC directly we can covert to any other coin and send it and later convert back to BTC to cash it, it makes transactions faster. Thank you so much. I like the idea.

think about it this way. you're sending money to an trading site with fee on it just to send Bitcoin(s) to still you're paying the exchange and the miner their selves . still the same i think would happend when you transact and convert it to Bitcoin.

[Anti-Cen]

Please correct me if I am wrong but isnt Eth cheaper to send than bitcoin and faster?

ETH does 15 transactions per second and BTC can manage 7 however $1.50 on ETH is still much too high
in fees but at least the miners are kept in check by the development team and did not hold a knife to
peoples throats and start charging $55 per transaction and this will never be forgotten

Many coins only cost $0.001 per transaction to put things in perspective and a year ago with Bitcoin
we were only talking cents and it was not "We" that changed the rules of game.