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Author Topic: bitcoin transactions costs in the future  (Read 1480 times)
Rufsilf
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June 30, 2019, 03:38:07 PM
 #161

But miners need to recover their ROI on their bitcoin mining gear, will have to pay people to maintain the mining farm so there is still a cost eventhough they will get free renewable energy in the future. And besides, mining fee is base on the hashing difficulty, so the more difficult it to find a block, the more fee's we need to pay.

Exactly, the fee will still be there, I think it would only be lesser since they will be using solar energy. Maintaining the mining farm may need a lot of money so if the fee will be free then I think no miners will want to mine anymore since they can't recovers their expenses.

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June 30, 2019, 03:38:31 PM
 #162

in any case, the cost of transactions will increase if the price of Bitcoin will also go up.  Who men need to take into account the fact that each user himself increases the price for the urgency of the transfer of funds.
has become a law of investment and crypto currency transactions, cryptocurrencies have increased, of course, transaction costs will also increase and in my opinion the value of crypto currencies with transaction costs will not incur a loss in the investment
That actually shouldn't be justified though, it is always better to develop further into solving this problem where the blockchain won't stuck with the scaling problem. So that when the mass could finally adopt cryptocurrency there'll be no problem regarding to this, maybe we take it too lightly for now but in the future we may even need a more scalable and faster blockchain.

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June 30, 2019, 03:52:56 PM
 #163

in any case, the cost of transactions will increase if the price of Bitcoin will also go up.  Who men need to take into account the fact that each user himself increases the price for the urgency of the transfer of funds.
has become a law of investment and crypto currency transactions, cryptocurrencies have increased, of course, transaction costs will also increase and in my opinion the value of crypto currencies with transaction costs will not incur a loss in the investment
That actually shouldn't be justified though, it is always better to develop further into solving this problem where the blockchain won't stuck with the scaling problem. So that when the mass could finally adopt cryptocurrency there'll be no problem regarding to this, maybe we take it too lightly for now but in the future we may even need a more scalable and faster blockchain.
I cant really deny on this thing.We might not able to feel it now but when adoption rises for sure there would be problems would be facing

up on near future where people would find it too hassle or not feasible for long term or for daily use.So it would end up on finding a better solution and
that maybe the time we are seeing bitcoin would be possibly replaced.



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June 30, 2019, 04:12:39 PM
 #164

But miners need to recover their ROI on their bitcoin mining gear, will have to pay people to maintain the mining farm so there is still a cost eventhough they will get free renewable energy in the future. And besides, mining fee is base on the hashing difficulty, so the more difficult it to find a block, the more fee's we need to pay.

Exactly, the fee will still be there, I think it would only be lesser since they will be using solar energy. Maintaining the mining farm may need a lot of money so if the fee will be free then I think no miners will want to mine anymore since they can't recovers their expenses.

I don't think so. In the future, I don't think they would even improve their miners since btc at that time would be all mined. That means they have nothing to get back their money but only through transaction fees amd that means in the future, there will be higher fees than now. Some miners might even mine other cryptos after that.

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June 30, 2019, 05:06:21 PM
 #165

We have to be aware that every party in.the chain should get their fair share. So transactions can't be free, this is mot sustainable. But at the moment I think that fees are reasonable and with time they will probably get lower. With new technologies and new energy sources miners will find the way to lower the costs and that will probably affect the fees.

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July 02, 2019, 07:05:53 AM
 #166

We have to be aware that every party in.the chain should get their fair share. So transactions can't be free, this is mot sustainable. But at the moment I think that fees are reasonable and with time they will probably get lower. With new technologies and new energy sources miners will find the way to lower the costs and that will probably affect the fees.

Maybe at some point in the future, after several halvings of the block reward, the reward will be so small that transaction fees will be necessary, but not today. 12.5 BTC, the current block reward, is still much higher than all the transaction fees combined. If nobody was paying more than $0.01 per transaction, or even any fee at all, the blocks would still be mined because of the block reward.

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July 02, 2019, 07:29:10 AM
 #167

in any case, the cost of transactions will increase if the price of Bitcoin will also go up.  Who men need to take into account the fact that each user himself increases the price for the urgency of the transfer of funds.
has become a law of investment and crypto currency transactions, cryptocurrencies have increased, of course, transaction costs will also increase and in my opinion the value of crypto currencies with transaction costs will not incur a loss in the investment
This is a normal scenario and we don't have to complain about it, the solution to this is pretty simple, find another coin that is with cheap transaction and use it, I'm sure a lot of those coins can be found in altcoins market, and you also won't have a problem selling them as we have lots of exchanges in the market.

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..PLAY NOW..
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