Will bitcoin transaction fees be too high in the future?

[Innocant]

In a near future bitcoin will take to a high fees again if the price of bitcoin are in a high price. And not only can do a high transaction fees even do some altcoins like etherium can make that move also so we dont need to if that comes.

Even now the transaction fees of bitcoin are increase a little bit but it is normal for bitcoin to doing that kind of transaction.
And we are so glad that bitcoin are in a price of $15,000 and we can earn more in bitcoin for doing trade or invested.

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[Abiky]

It depends upon Bitcoin usage later on. In case I recognize Bitcoin in portion for a £10,000 space name, by then $5 is irrelevant, If I have to pay for some coffee, by then it is unnecessarily, especially as I pay nothing with a Mastercard. That prompts the probability that the recipient pays the backhoe's cost. The digger just eliminates it from £10.000. By then, there is the opportunity of lumping a ton of trades into one convenience, which should reduce the charges.

Another probability is that banks start to run their own personal mining residences, and a short time later, they could give no-charge trades as long as the portions aren't critical.

Exactly. It all depends on what use we'll give to Bitcoin. If we send large amounts of money around the world through Bitcoin, then a high fee won't be much compared to what traditional payment processors charge you (especially when doing a money order through Western Union or MoneyGram). For small payments like buying a cup of coffee or tipping others, a high fee won't prove to be feasible for the decentralized economy. That's where the Lightning Network comes in play. Unfortunately, not many people understand how to use it. The steep learning curve of Bitcoin's Layer-Two scalability solution, greatly undermines its mainstream adoption. Hence, the only choice people have for getting low fees is to either choose an alternative cryptocurrency or simply pay a low fee on the main Bitcoin Blockchain (at a cost of slow transaction confirmation times).

The higher the fees, the more secure Bitcoin will be. Spam transactions will be reduced at a minimum thanks to the fee market. After all, people are the ones who dictate Bitcoin's network fees. It seems that the majority don't care to pay a high fee as long as the transaction is processed fast on the Blockchain. In case fees rise all the way to the moon, the majority can choose to pay a lower fee in order to "regulate" the fee market. That's the beauty of Bitcoin's decentralized design. I wouldn't worry about high fees, as long as Bitcoin remains secure and reliable for cross-border payments. High fees will only encourage Bitcoin to be used as a store of value instead of a digital currency for daily payments. Just my opinion

[Gotumoot]

We don't need to wait for the future the transaction fee is already high for others who only send small amount.
Depending on how much we would send because for other the fee is already high or pricey while other see's it cheap because of the amount that they are moving is huge.
But yes I guess that we could see a much more higher fee in the future compare to our current fees right now.

[fauzan123]

Yes, bitcoin transaction fees will not remain like this forever. It will definitely change some day like Ethereum which transaction fees is too high. Bitcoin fees will go high some day but it will not be too high like other cryptocurrencies.
Many investors are enjoying with the transaction fees that is low right now which many new users are still have interest on bitcoin no matter how the future will go to look like but it will not look like Ethereum which it transaction fees is too high.

Actually, the matter of fees is relative, depending on our wishes and the demand for global fees. However, if you say how expensive the fee is, until now the movement of bitcoin fees is still at least 0.0002 btc but it will look expensive if the price of bitcoin continues to rise, of course the transaction will also increase market demand, so this is where the fee request process will continue going on, I think this is normal.

[proTECH77]

Yes, but it will not be too high like Ethereum fees, that is making some investors to join bitcoin investment because the bitcoin fee is too low compared to Ethereum fees. Since bitcoin started pumping in the exchange market, that was causing other cryptocurrencies to reduce in the market, that is making some of the cryptocurrencies investors not too happy base on what they are experiencing in the market for the decrease. Many investors think bitcoin fees will be more high than Ethereum in the future, that is making some investors afraid, that bitcoin fee should not be high like Ethereum.
Bitcoin fees will go to be high in future but it will not be too high like Ethereum that is making some Ethereum customers keep complaining about the fees that is too high for them.

[Ayiranorea]

We can't predict how things gonna change in the future. When things go advanced people expect the transaction to be more user friendly and can be used by everyone. For regular needs people have got the fiat access through cards without fee. So, people will expect the same with bitcoin. So I'm sure it'll have reduced fee. With this user can effectively use bitcoin on micropayments.

[Xinarae*]

Bitcoin is way ahead in transactions but nobody can say what proportion the fee are going to be within the future. The exchanges will determine their exact value. you're right that the worth of Fiat currency will increase  within the future, so if both currencies become profitable the quantity of fee will decrease. If the worth of the currency rises and therefore the exchange is higher then the worth of the fee are going to be lower. Then these exchange sites will get tons of recognition for transactions.

[Question123]

Everytime that the price of the bitcoin increasing the fees of also to the bitcoin rise and it is what I've noticed like in 2017 the transaction fees for every send any amount of bitcoin even it's little it's very high.

I do not want to rise the transaction now or even in the future because we can save more money for every transaction we make in the future. But now the fees is low and I hope it will not rise anymore.

[Jeger.Kiting]

I hope that in the future the transaction fees for bitcoin can be lower, maybe at this time it is still too high either on some exchanges or sending via blockchian, it is impossible for everyone to expect higher transaction fees, of course there are many complaints from someone who has a Bitcoin income. the amount is small, of course it benefits the whales who have large amounts of bitcoin, I hope that the transaction fees can be low in the future, so that the small number of bitcoin holders can feel the balance of the transaction ...

[XZERO1]

I believe transaction fees will be really high since as the price of bitcoin increases the network traffic would increase at the same time too which as a result would make transaction fees more expensive, but on the other side we also got bitcoin lightning network and it all would depend on how good lightning network would do at those times and whether we see any more improvements and advantages providing by lightning network till then, right now lightning network is doing great and there's not much downsides to it but I just wonder how much the huge increase in network traffic will affect bitcoin lightning network efficiency.

[pankowri]

At initial, the appetite for everything is low. Everything is in short allowance due to meager demand. Bitcoin didn't seize long to evolve popularly but I guess its transaction fees are relatively low. And now that Bitcoin is at its peak of popularity, its breadth will deliberately heighten. So it strives that its transaction fees will too high in the future.

[Tahsin Kabir Kollol]

As the value of the bitcoin increases, so does its transaction fee in conventional currencies. Although bitcoin prices have risen, most exchangers have not reduced their bitcoin withdrawal fees. In many cases, the amount has increased. This has resulted in excessive spending on small amounts of Bitcoin withdrawals which are hampering small amounts of transactions. If this transaction fee exists, the amount of transaction fee will increase significantly if the value of bitcoin increases further in the future.

[Abiky]

As the value of the bitcoin increases, so does its transaction fee in conventional currencies. Although bitcoin prices have risen, most exchangers have not reduced their bitcoin withdrawal fees. In many cases, the amount has increased. This has resulted in excessive spending on small amounts of Bitcoin withdrawals which are hampering small amounts of transactions. If this transaction fee exists, the amount of transaction fee will increase significantly if the value of bitcoin increases further in the future.

Exactly. The higher the network load, the higher BTC's fees will be. Considering that Bitcoin is valued against Fiat, this translates into a lot of money depending on how high prices are on the market. That's the way Bitcoin works. High fees may be a bad thing to most people. But if you look at it the other way around, it's a good thing as it demonstrates how secure the network is. Current fees prevent transaction spamming and other attacks that would disrupt the entire Blockchain network. If it weren't because of the high fees, Bitcoin wouldn't have gained its reputation as the most secure cryptocurrency in the world. I'd prefer to pay a high fee knowing that my transaction will go through as intended, than paying a low fee on another coin that's extremely vulnerable to external attacks. Besides, you have the option to pay a lower fee on the Bitcoin blockchain at a cost of slower transaction confirmation times. If that's not enough for you, there's the option of the Lightning Network where fees are ridiculously low and transactions settle instantly. Your last resort would be to use an alternative cryptocurrency with greater transaction capacity than Bitcoin. But be aware about the risks inherent within scalable cryptocurrencies as they often sacrifice security/decentralization/reliability for convenience/ease-of-use.

As long as there's a competitive "fee market" on Bitcoin, there should be nothing to worry about. It's certain that fees won't stay high for a very long time, as people select a lower fee for their transaction to get processed on the Blockchain. Miners will be forced to accept the low fees if the majority of Bitcoin users make such a decision. With active development and innovation surrounding the Bitcoin project, it'll be here to stay for a long, long time. Just my opinion

[JahriMeayer]

I think transaction fees will increase if the bitcoin price continue growing in upcoming days cause the current demand of bitcoin, indicate to increase the price more. Although there are some wallet which allow you to set low transaction fee but takes lot of time for transactions done.people can use those by their need.although miners never satisfied with transactions fee! hope it will be made lower by the help of upcoming technology

[jrrsparkles]

In terms of sats it will be decrease but in the fist value surely there will be a huge rise because the price of bitcoin is expected to increase in the future so the value of the transaction fee also increase if we calculate the actual sats required with the value in the future.

[Nellayar]

I think transaction fees will increase if the bitcoin price continue growing in upcoming days cause the current demand of bitcoin, indicate to increase the price more. Although there are some wallet which allow you to set low transaction fee but takes lot of time for transactions done.people can use those by their need.although miners never satisfied with transactions fee! hope it will be made lower by the help of upcoming technology

Just like what happened last 2017 wherein bitcoin demand was high. Transaction fees are increasing because of the demand and low of its supply. As we all know that bitcoin was halved in the 1st quarter of 2020. When it will continuously moving up, expect to have a dollar/s fee in your transaction which is really hurting the bitcoin users. If we want to slower down our fees, we will move it to the slowest transation rate per minute. But I think 2 sat/byte seems to be fast today since I had made a quick transaction this day.

[Oilacris]

In terms of sats it will be decrease but in the fist value surely there will be a huge rise because the price of bitcoin is expected to increase in the future so the value of the transaction fee also increase if we calculate the actual sats required with the value in the future.

You got some point which is actually true. Actual sats value will really vary specially if the price of bitcoin would really go to the rooftop.

Even having that 1sat/byte will really be costly in near future but who knows? No one can predict on what would be the price ahead neither we do see hundreds of thousands
or would just remain into this level.

This had been a common issue with Bitcoin but somehow it is bearable or can be handled out.

[OcTradism]

You got some point which is actually true. Actual sats value will really vary specially if the price of bitcoin would really go to the rooftop.

Even having that 1sat/byte will really be costly in near future but who knows? No one can predict on what would be the price ahead neither we do see hundreds of thousands
or would just remain into this level.

This had been a common issue with Bitcoin but somehow it is bearable or can be handled out.

Lightning Network is in its growth and fee on Lightning Network will be cheaper. In future, more developments will be considered and developed and they are things will happen. In 2017, fee was very high and the bitcoin network was stucked for weeks. Now, bitcoin climbs to $24,000 and the fee is low. You can open a debate that if bitcoin climbs to $50,000 and thousands of people are hurry up to sell their bitcoins, fee will be higher again. It is true but I have never thought the network and fee will be crazy like what happened in 2017.

[Twinkledoe]

You got some point which is actually true. Actual sats value will really vary specially if the price of bitcoin would really go to the rooftop.

Even having that 1sat/byte will really be costly in near future but who knows? No one can predict on what would be the price ahead neither we do see hundreds of thousands
or would just remain into this level.

This had been a common issue with Bitcoin but somehow it is bearable or can be handled out.

Lightning Network is in its growth and fee on Lightning Network will be cheaper. In future, more developments will be considered and developed and they are things will happen. In 2017, fee was very high and the bitcoin network was stucked for weeks. Now, bitcoin climbs to $24,000 and the fee is low. You can open a debate that if bitcoin climbs to $50,000 and thousands of people are hurry up to sell their bitcoins, fee will be higher again. It is true but I have never thought the network and fee will be crazy like what happened in 2017.

I believe LN will be more popular in the coming years as crypto users will find a way how to avoid paying high fees. For sure, there will be options that will be implemented because if high fees will not be resolved, this will be the bottleneck in mass adoption.

[Viscore]

You got some point which is actually true. Actual sats value will really vary specially if the price of bitcoin would really go to the rooftop.

Even having that 1sat/byte will really be costly in near future but who knows? No one can predict on what would be the price ahead neither we do see hundreds of thousands
or would just remain into this level.

This had been a common issue with Bitcoin but somehow it is bearable or can be handled out.

Lightning Network is in its growth and fee on Lightning Network will be cheaper. In future, more developments will be considered and developed and they are things will happen. In 2017, fee was very high and the bitcoin network was stucked for weeks. Now, bitcoin climbs to $24,000 and the fee is low. You can open a debate that if bitcoin climbs to $50,000 and thousands of people are hurry up to sell their bitcoins, fee will be higher again. It is true but I have never thought the network and fee will be crazy like what happened in 2017.

I believe LN will be more popular in the coming years as crypto users will find a way how to avoid paying high fees. For sure, there will be options that will be implemented because if high fees will not be resolved, this will be the bottleneck in mass adoption.

True, but not only LN, maybe there are other platform that will help to minimize the fees and bitcoin will be massively adopted still. The transaction fee is really the reason why people is not using bitcoin in the long run, of course who would use bitcoin if you'll have to pay $5 or more per transaction if you are only transacting a minimal amount. In short, bitcoin is no good for micro transactions.