Will bitcoin transaction fees be too high in the future?

[slapper]

This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $2. After lots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $5 for a transaction. Even paypal doesn't charge that much.

Anonymity has its price. You can not have everything you want. Sacrifices are needed in every circumstance. Paypal can charge less than bitcoin but you will provide full of your identification and identity. And they can easily trace you whenever you make a transaction

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[CarnagexD]

It depends on the bitcoin price, if the price goes up then fee s price also increase, also it depends on transaction volume.

Fee increase is inevitable. This is the price to pay with bitcoin's decentralized function. A pretty big one so to speak. But I hope the people working on bitcoin's development somehow find a loophole that would allow us normal investors to transact with bitcoin without the worry of breaking the bank. Coz as of now pretty much we can only hope for the fees to go down is for the price of bitcoin to go down too.

[Sayma83]

Hello dear, i hope It is relies upon Bitcoin utilization later on. On the off chance that I acknowledge Bitcoin in installment for a £10,000 space name, at that point $5 id unimportant, In the event that I need to pay for some espresso, at that point it is excessively, particularly as I don't pay anything with a Visa. That prompts the likelihood that the beneficiary pays the diggers charge. The digger just removes it from the £10.000. At that point there is the chance of lumping a lot of exchanges into one accommodation, that ought to lessen the charges.
Another likelihood is that banks begin to run their own mining ranches, and afterward they could give no expense exchanges as long as the installments aren't pressing. thank you

[romero121]

We can't be judgemental on the transaction fee of bitcoin in the future. A huge spike in transaction fee happened with the May month. This is all because of the increased number of activities happening on the network considering the halving event predicted to take place. It caused the transaction fee to spike to a value above $6 from a low transaction cost of $0.28 between the month of January and May.

After the halving the market allowed to drop the transaction fee. Now this has dropped low compared to the peak value of May month. In future surely there'll be continued development to keep the fee nominal so to grow the network.

[Mr.sprin]

It depends on the bitcoin price, if the price goes up then fee s price also increase, also it depends on transaction volume.

I agree that the price of bitcoin has gone up, so the transaction price has also risen and vice versa, but there are also those that have increased the transaction price when many are selling on the market, so many have put up expensive transaction prices so that the coins are sold quickly.

[PonZZ]

Logically Bitcoin price will rise in the future due to its limited supply. As a result, fees will increase too.

[mindrust]

It depends on the bitcoin price, if the price goes up then fee s price also increase, also it depends on transaction volume.

On-Chain activity matters more than the price imo.

If the place gets too crowded, high unit prices speed up the process.

If there isn't too much activity, then bitcoin's high price won't affect the tx prices that much, probably not at all.

[Zilon]

This is a very relevent question I must confess considering the transactions been carried out with bit coin on daily bases. as years goes by certainly there be an increase in bitcoin transactions fee becomes more investors and stake-holders will want to venture into this form of wealth mining thereby causing an increase in demand which might trigger its market value. With this the market capitalization of bitcoin will tend to increase leasing to increase in transaction fee. So its much adviceable to Accumulate as much bit coin as possible so as to avoid been kicked out from the market in the nearest future

[EdenHazard]

If you are in hurry to make certain transaction then yeah you need to put higher fee even it might still have a long time to get confirmed and as time goes by the price of bitcoin could possibly getting incredibly high we might could face a $100 fee when the 10k satoshi equally to that $100.
We have some ways to reduce the bitcoin transaction fee including through the segwit wallet & transaction batching .. we might will find something more than these in the future which hopefully it comes soon.

[PancongStreet]

most likely it depends on transactions created on blockchains just like ETH currently has high gas due to accumulated transactions
if bitcoin can be used for payments in various international web shopping, it is very likely that the fee will continue to rise

[Shohanur]

It is really pathetic for some people who send bitcoin regularly. There are a lot of people who send bitcoin for micro works and they send it several times in a day. Hopefully, transaction fee will be starting to fall again.

[pixie85]

It depends on the bitcoin price, if the price goes up then fee s price also increase, also it depends on transaction volume.

There's no such rule. We cannot be sure that the transaction cost will go up with the value. You can see that in Jul 2017 the fees skyrocketed to very high levels but the price was just 3000 dollars atthat time and the number of users was much lower. So we had lower price, lower number of users, but higher fees!

Transaction cost usually goes up when the number of transactions goes up and it's true that the more Bitcoin is worth the more people are willing to pay to get a fast transaction but we don't know if the network doesn't get faster with the introduction of secondary layers like the LN.

[Stedsm]

There are chances for both scenarios when:

Scenario 1 -

Miners and pools decide to decrease the fee levels by setting the minimum fee based on the (upcoming future) price if it goes too high, like if the price of BTC goes 10x some day, they may decide to ease the process and scale BTC at that time by decreasing the minimum sendable fee to 2k sats instead of keeping it high at 10k - 20k sats.

Scenario 2 -

Miners decide not to go for a reduced price for them to confirm the transactions and charge even higher under the effect of greed because you know, most people mine for money. I'm sure that hobbyists don't care a lot about fees but those who are invested a lot into this, do care for the same.

[kemoglo]

This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $2. After lots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $5 for a transaction. Even paypal doesn't charge that much.

When price go up enough so that the fee is problematic, well, price has gone up, so in general people transact less amounts, less bytes per transaction = less perceived fees. Say we reach a point where 1 satoshi = 1 USD, a current transaction cost would be in the thousands of USD! But a regular transaction of around 1000 satoshis, costing some 2 or 3 satoshis wouldn't be too out of the ordinary.

The chain will evolve, some miners will move on, but this is my perception of how fees will stabilize in the future, adoption is going to grow so price will follow as well. (the above is NOT a price estimation, it's just an example)

[BuNga_cute]

Many cause Bitcoin transaction fees to be high, especially if Bitcoin demand continues to increase, while Bitcoin supply is limited.
So it is very possible that Bitcoin transaction fees will be high in the future. Even now when compared to altcoins transaction fees,
Bitcoin transaction fees are quite high. Meanwhile, using the Lightning Network is a solution to get cheaper Bitcoin transaction fees
right now.

[bakasabo]

Ethereum and DeFi are the great example of high transaction fees. I'm 100% sure, that after DeFi rans out of hype power and becomes something regular (like ICO and IEO now), people will come up with something new, that will grow an interest to bitcoin. And where is interest, there are people who will want to earn on it. You dont need to go far for an example. Every time bitcoin's price grows speedily, network fees goes up also.

[tbct_mt2]

This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $2. After lots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $5 for a transaction. Even paypal doesn't charge that much.

The median fee is misleading for newbies. They will simply think that average fee for each bitcoin transaction is $2. They don't know fee depends on transaction size. The median the site gives us is fee for all transactions at all sizes. They should give a median per byte. 

Ethereum and DeFi are the great example of high transaction fees. I'm 100% sure, that after DeFi rans out of hype power and becomes something regular (like ICO and IEO now), people will come up with something new, that will grow an interest to bitcoin. And where is interest, there are people who will want to earn on it. You dont need to go far for an example. Every time bitcoin's price grows speedily, network fees goes up also.

Scammers will create another new scam trend and if Ethereum keeps its current network structures and its role for running new projects, pools on their smart contracts, and if the Ethereum 2.0 won't solve network issues, fee on Ethereum network will have other crazy rises.

[Vishnu.Reang]

You can't predict the transaction fee for Bitcoin, if you don't know what will be the future limit on Block size. If the user base expands, and in case the number of transactions go up by a lot, then there is a good chance that the community will unanimously decide to increase the block size. If that happens, then the transaction fee will be more or less stable. Else it will go up to the levels we had in 2017 December.

[skarais]

Every time bitcoin's price grows speedily, network fees goes up also.

The increase in price is a factor that affect the number of bitcoin transaction. The higher the number of transaction, the denser the network will be so that the transaction costs will be higher. So in my opinion, it is not the price increase that causes high transaction cost but the network congestion.

I can't be sure how much it will cost in future Bitcoin transaction because it's very difficult. Miners will face hard time as some of them will have to stop activities that are no longer profitable. But I believe the transaction fee will not exceed the reasonable limit.

[budi691]

Ethereum and DeFi are the great example of high transaction fees. I'm 100% sure, that after DeFi rans out of hype power and becomes something regular (like ICO and IEO now), people will come up with something new, that will grow an interest to bitcoin. And where is interest, there are people who will want to earn on it. You dont need to go far for an example. Every time bitcoin's price grows speedily, network fees goes up also.

yes I agree with you with the increasing number of requests, the higher the transaction fee, in my opinion Bitcoin is the same, if the use of bitcoin is high the costs will also be higher, but I hope that doesn't happen