Should we use Bitcoin for regular transaction now?

[cheezcarls]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Given the fees, I think it's not ideal to initiate a regular transaction because of the high fees. Recently, I had a transaction with my friend using Bitcoin with the same centralized wallet. There are no fees when transferring from wallet to the other. However, if we are to use a different wallet or a decentralized one, expect that the fees would be high. Like for example, I want to use a service with Bitcoin, but I just realized that on top of the original price, the transaction fee was very high. To me, I think it's not ideal for us to keep using Bitcoin in our regular transactions unless there is a way that it can reduce fees like the Lightning or something.

[TimeTeller]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Given the fees, I think it's not ideal to initiate a regular transaction because of the high fees. Recently, I had a transaction with my friend using Bitcoin with the same centralized wallet. There are no fees when transferring from wallet to the other. However, if we are to use a different wallet or a decentralized one, expect that the fees would be high. Like for example, I want to use a service with Bitcoin, but I just realized that on top of the original price, the transaction fee was very high. To me, I think it's not ideal for us to keep using Bitcoin in our regular transactions unless there is a way that it can reduce fees like the Lightning or something.

It does depend on the situation. Just like you said, same wallet app, no fees at all.
But if you are dealing with different platforms, the fees are getting expensive.
So if you feel you are in the situation that you can take advantage of low fees, why not?
But if not, look for alternatives as it is not practical to pay high fees for small transactions.
It is your prerogative if you will use your btc in your regular transaction or not.
But you can always use it if you want, it will just incur you heavy fees if not handled properly.

[sumant]

I don't think we can use bitcoin for regular transactions because of its high fees. There are many cryptocurrencieswhich are very cheap and low transaction fees like trx, Dgb We can use them to pay anywhere. Making regular transactions with bitcoin we loss our too much. If bitcoin fees will be down then btc is best currency to transact. Bitcoin price is too high to buy so we can not give them for payment easily.

[cydrix]

I guess we should but at the end of the day people still use physical money in the real world since not everyone use phone. I think this might happen further in the future. And it could entirely change the way some people sees bitcoin. If ever it is used as a payment for everything it would probably not be as volatile as it should be and more like a stable currency but a digital or virtual one. Some may benefit from it some may not but for me it is a good thing.

[Sithara007]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Low priority transactions with fee of around 25 Sat/Byte got confirmed during last hour. So the median fee for low priority transactions stand at around $2 right now. So in case you can wait for 1-2 hours to get your confirmation, you can input a fee of 20-30 Sat/Byte. The Mempool size is still a concern for me. It is still above 200 MB, which is almost 3 times higher than the average size. It will take a few days, or even weeks to clear the backlog.

[Zilon]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it too much?

For me i would say a big no. I can't transact with bitcoin because Its fee is way too much. I rather transact with altcoin considering the low fee cost.
However accepting bitcoin as means of payment could be considered thereafter converting it to altcoins.

[ice18]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Thats too much man, many people believed in bitcoin to be the future of money but this fees I dont think so I will never use btc for a payment transaction which fees is totally ridiculous much better to use Doge when paying to others more cheaper than btc and less stress since its fast. 

[10_sjdovn_10]

Because of transaction fees and confirmation time, most of people like to trade in exchanges instead of daily payments.
I also have the question, what other use cases arise in addition to trading ?!

[decodx]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Low priority transactions with fee of around 25 Sat/Byte got confirmed during last hour. So the median fee for low priority transactions stand at around $2 right now. So in case you can wait for 1-2 hours to get your confirmation, you can input a fee of 20-30 Sat/Byte. The Mempool size is still a concern for me. It is still above 200 MB, which is almost 3 times higher than the average size. It will take a few days, or even weeks to clear the backlog.

That' s exactly what I had in mind.
High transaction fees are paid by users who want their transaction confirmed by ASAP. I still try to plan ahead and use low priority transactions with a small fee because I don't mind waiting a few hours or even a whole day for the transaction to be verified.
There is no reason to pay high fees if there is no urgency in your transaction.

[tatalin]

I think we can’t still use Bitcoin as payment for regular transactions as the processing still takes time. Should be instant just like credit card transactions. If Bitcoin and blockchain can verify thousands of transactions in a second, I think we can all pay using Bitcoin instantly and conveniently.

[Hippocrypto]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

That's too much, money is everything and if you needed it for your daily living 16 bucks is really worth it. Don't waste your money just for it without thinking for any other priorities for your transactions. Use bitcoin wisely, and there's other alternatives which you can avoid higher tx fees, buying other low cost coins like xrp or trx for transfers can be a good diversions.

[dimonstration]

I think we can’t still use Bitcoin as payment for regular transactions as the processing still takes time. Should be instant just like credit card transactions. If Bitcoin and blockchain can verify thousands of transactions in a second, I think we can all pay using Bitcoin instantly and conveniently.

The transaction is way too high now to make transactions, while it is convenient to pay thru crypto and adoption is increasing from stores accepting it, companies uses these as a method too  in choices for checkout but I'd rather save my BTC now till the price goes high or for future use. I might only use BTC in terms of emergency.

[javainn]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

I think for large transactions it is okay to lose $ 16, but for small transactions you can try to think first because $ 16 transactions are actually big, but for those of you who don't think about gas costs you usually stick to bitcoin and will get used to it.

[Asuspawer09]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Let's be honest around 15$ in a normal transaction was pretty high you could be making up to 5 transactions per day that would cost you 75$ which is ridiculous, I think with the number of users the fee where I'm comfortable paying is in the range of 5$ per transaction.

Still, it solves one of the biggest problems in the world that is why it is still the best and number one cryptocurrency in the market, Ethereum has almost double or triple that fees sometimes.

At this time more people are just sticking for investment when it comes to bitcoin, well transactions let's be honest bitcoin is pretty slow compared to other networks and Ethereum which is pretty fast but around 1.5million transactions daily.

[uneng]

I suppose by regular transactions you mean daily transactions we need to execute several times per day for different purposes. So no, it doesn't worth to use bitcoin this way, even if the fees were cheap, because in the end you will have a sum of taxes paid from several transactions, reaching to a considerable amount that you will miss later. Compared to fiat, your transactions will be much more expensive, decreasing your purchasing power.
Bitcoin fits better for sporadic transactions, to purchase a special good or gift once in a while, for an example, with the possibility of setting low fees and waiting more time to have the transaction completed.

For regular transactions done with btc, the businesses you are paying to should have an internal bitcoin balance, so you could deposit a larger amount of coins paying an one time fee, and debting from this balance later as you make purchases daily. It could work for supermarkets, governments' agencies, gas stations and so on.

[MAK400]

Usually it will depend on the transaction fee.  If the transaction fee is high then why should I be so dependent on Bitcoin.  So we have to look at other platforms and if the transaction fee is less then Bitcoin can be preferred.

[TangentC]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

Bitcoin is for the rich.

Everyone else will use altcoins like Doge or 3rd party offchain systems like LN.

[aysg76]

Should we use Bitcoin for regular transaction now? While mempool is overloaded
So average transaction fee right now is about 16 bucks. Is it to much?

1)You can always use Bitcoin for any transaction you want considering the fact that you are ready to pay the average fees at that time for confirmation of your transaction easily.

2)If the network is congested which means memepool is full of unconfirmed transaction then you need to pay higher fees or use RBF feature to confirm your transaction.

3)For regular transaction Bitcoin needs to be accepted by majority of people in the market because all are not buying Tesla and some other stuffs with their coins.
 
In the end it's your coins and your money and it is how you use them.

[Yatsan]

It depends on the availability of the resources if you can be able to maximize the usage of your Bitcoin to be able to make use of it for regular transaction. But as for me, I would rather consider using fiat to make up daily transactions instead of using Bitcoin due to reason (1) the price of it matters to me that I would rather make use of it on important and essential things that cannot be make up with fiat transactions (2) there is limited availability of resources where I can transact using Bitcoin here in my place. Also, if you can bare to afford spending money for transactions using Bitcoin, then do it. It is up to you on how to make good use of your Bitcoin.

[Henrobakkara]

I guess we should but at the end of the day people still use physical money in the real world since not everyone use phone. I think this might happen further in the future. And it could entirely change the way some people sees bitcoin. If ever it is used as a payment for everything it would probably not be as volatile as it should be and more like a stable currency but a digital or virtual one. Some may benefit from it some may not but for me it is a good thing.

I do agree that Bitcoin should be used for regular transactions, it is already been used as such but the issue is the number of places where you would be able to use it for everyday purchases and like you mentioned, I dont know when that would be when Bitcoin volatility will level out and be more stable unless it is now been regarded as a stable coin so I believe bitcoin will remain the way that it is even if it has gained a much wide adoption as a means of purchase.