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Author Topic: Lowering transaction fees will promote the use of bitcoin and adaptability?  (Read 658 times)
xWolfx
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February 01, 2019, 08:46:21 PM
 #61

The subject seems to be getting heated up now.

I personally believe that we first need to improve the system behind it, Blockchain and then that idea which is in fact pretty good can be a reality.

Bigger transaction costs or bigger costs on any way will keep costumers away, since costumers constantly search for the cheapest stuffs or for something different. Bitcoin can in fact have both but it still needs to mature.
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February 01, 2019, 09:06:08 PM
 #62

Bigger transaction costs or bigger costs on any way will keep costumers away, since costumers constantly search for the cheapest stuffs or for something different. Bitcoin can in fact have both but it still needs to mature.

yep.
as i said before the social drama queens meandered in
instead of everyone paying a 'average' fee
if someone wanted to respend funds every 10 minutes then each of their transactions should be 144 more than someones transaction who only spends once a day. (yes its possible)
the advantage being.. even for the social drama meander group. is that it incentivises the spammers to then use LN. (thus the social drama group can then celebrate they have actual customers to feed fee's from). meanwhile letting others remain using bitcoins network without being impacted by huge fee's

it also can b done by not having bloated features onchain. but going back to simple practical lean transactions. thus the byte per tx goes back down, which then allows more transaction count in.

it also can be done by removing the washy washy code of scale witness which has always been a stupid thing. thus allowing real utility of space instead of trying to hide/fudge the numbers

oh look. no mention of me saying block sizes need to grow by "tremendous volume". and yet these things will help adoption. and also transaction throughput beyond the 600k number thats been apparent since 2010

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Vishnu.Reang
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May 14, 2019, 09:39:55 AM
 #63

A low transaction fee can be one of the factors which can accelerate the global adoption of Bitcoin as a mode of payment. But that said, there are several factors and the transaction fee is only one of them. Along with the high transaction fee, another concern for the users is the volatility in the transaction fees. For example, in 2019 I have paid an average of $1 for Bitcoin transactions. But this amount is not constant. I still remember paying transaction fee of $40 during the 4th quarter of 2017.
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