Will transaction fees get in the way of the bull run?

[el kaka22]

If you check out the transactions done in the previous 1 month you will see that we had one day with 452 thousand transactions and one day with 439 thousand transactions, those are literally second biggest transaction day in history and fourth biggest day in transaction history as we know about it.

It means we already have seen a ton of transaction increase in the past month and the only reason why fee's get higher is that there would be more transactions in bitcoin and people would pay more to get theirs priority, if we have seen the second and fourth biggest in the last month and the fee's didn't go up like it used to in the past then how could be wondering if the fee's will get higher later on? We would need double the amount of transactions then the highest transaction in bitcoin history to even get close to previous ones which I doubt will happen.

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[Pamadar]

I have the same concern, last time in 2017 the fee went crazy and really expensive, it caused so many people looking for alternative when want to do transaction, but seems like the developers will find a way to tackle this problem this time, and because the bull hasn't been so high I think we are still safe

The developers should learned from past experiences, fees should be taken care properly if we are aiming for more adoptions and usage in the future,any available system that will help  both businesses and users for more convenient ways to keep transactions being active from time to time.

[prtty2gal2]

We all saw the crazy $50 tx fees in December 2017. It's only gonna get way worse this next bull run since it seems nothing will be done anytime soon to address block congestion.

Do you think the bull run, or at least bitcoin's role in it, will get cut short significantly by absurd transaction fees in the next couple of years?

I could definitely see transaction fees going into the hundreds of dollars when the price really starts getting crazy, which I think would pretty quickly stop bitcoins bull run in its tracks. This is the only thing I'm worried about for the bull run over the next couple of years. Everything else looks positive except that nothing was done to address tx capacity during the down market.

People will always find a way out to maneuver it even when the transaction fee increases, we cannot avoid it, the higher the price and congestion, the higher the transaction fee will become, but it is not every time within the hour that it gets clumsy.

I could remember during the last bull run when the transaction fee became very high, I and my friend usually wait for there to be decongestion before we try to make any transaction, moreover, the profit that will always climb our investment then will cause excitement that most people may not really feel it that much on their transactions.

[Osarman]

We all saw the crazy $50 tx fees in December 2017. It's only gonna get way worse this next bull run since it seems nothing will be done anytime soon to address block congestion.

Do you think the bull run, or at least bitcoin's role in it, will get cut short significantly by absurd transaction fees in the next couple of years?

I could definitely see transaction fees going into the hundreds of dollars when the price really starts getting crazy, which I think would pretty quickly stop bitcoins bull run in its tracks. This is the only thing I'm worried about for the bull run over the next couple of years. Everything else looks positive except that nothing was done to address tx capacity during the down market.

Well, transaction fees might become a problem at some point, but I think since lightning network has been implemented already in the bitcoin network, then what will just happen is that the increase in transaction fees is going to bring massive adoption of lightning network by projects, especially those who offer small services like payment for pizza and coffee in which people who make the purchase of this things will not want to spend so much money in transaction fees than what they spend in making purchase of coffee.

[TheHas]

There are enough ways to get around excessive transaction (and exchange) fees that it probably won't make much of a difference at the macro level.

For example instead of withdrawing from an exchange in bitcoin, it is usually cheaper to convert to ethereum or a stable coin and then withdrawal. So if fees matter to you, then you can find ways to trade around it.

[davis196]

We all saw the crazy $50 tx fees in December 2017. It's only gonna get way worse this next bull run since it seems nothing will be done anytime soon to address block congestion.

Do you think the bull run, or at least bitcoin's role in it, will get cut short significantly by absurd transaction fees in the next couple of years?

I could definitely see transaction fees going into the hundreds of dollars when the price really starts getting crazy, which I think would pretty quickly stop bitcoins bull run in its tracks. This is the only thing I'm worried about for the bull run over the next couple of years. Everything else looks positive except that nothing was done to address tx capacity during the down market.

Interesting question.We have Segwit and Lightning Network(I don't personally recommend them,but they are an option),this means more options to do offchain transactions.I'm sure that this will remove some of the pressure over the blockchain and thus it will lower the chance of the transaction fees going up.I'm no expert by any means,by the way.

[Adriano2010]

As we see until now the bitcoin unconfirmed transactions not grow and this maybe happen because people not put high fee or there is not a lot of transaction like on last bull run.

[erikalui]

This can't be compared to 2017 so soon as then we couldn't see transactions with 5sats/byte getting confirmed while now even transactions with 2sats/byte get confirmed within few hours. Some transactions do take long but not weeks like it used to happen back then. With many users using hardware wallets, they can choose to pay a lower fee and unless the network is not congested, I don't see it as a major problem. Only exchanges would try to grab more dollars for users.

[South Park]

We all saw the crazy $50 tx fees in December 2017. It's only gonna get way worse this next bull run since it seems nothing will be done anytime soon to address block congestion.

Do you think the bull run, or at least bitcoin's role in it, will get cut short significantly by absurd transaction fees in the next couple of years?

I could definitely see transaction fees going into the hundreds of dollars when the price really starts getting crazy, which I think would pretty quickly stop bitcoins bull run in its tracks. This is the only thing I'm worried about for the bull run over the next couple of years. Everything else looks positive except that nothing was done to address tx capacity during the down market.

The fees were very high during the last bull market and that did not stop it, so why it should be different now? I agree with you that we are going to see some crazy fees as the price of bitcoin keeps rising but that is to be expected and anyone expecting otherwise will be disappointed, but taking into account the huge profits that you can get during a bull market and that most of the time you will only need to make a few transactions to obtain those benefits I will say the returns you can get justify the transactions costs.

[STT]

With many users using hardware wallets, they can choose to pay a lower fee and unless the network is not congested, I don't see it as a major problem. Only exchanges would try to grab more dollars for users.

Many users but with a higher price we get the newer users and a large amount are going via the easiest route which is exchanges I guess.    I do agree hardware wallets are clearing quite nicely still on custom fees ( not immediate but I dont need that) and the various measures taken since the last bull run are acting as a positive now I think