Have you stopped using bitcoin for small transactions completely ?

[krishnaverma]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

[Hatchy]

In times like this, when the mempool is congested and fees are very high, you are expected to note that small transactions could incur high fees which might be equal to their output value. However this shouldn't deter small transactions altogether. If you own a business and use Bitcoin as a payment option you may consider utilizing other cryptocurrencies for such transactions temporarily. This isn't the first time we've experienced mempool congestion, and it won't be the last, so fees may take a while to return to normal. Some might also consider using the Lightning Network for small transactions during these times, but not everyone is familiar with it.

[hZti]

You can send transactions for a very low fee if time is not an issue. Just reserach how to set a specific sat amount for the fee.
Still this is not how it should be, but at this point I think Bitcoin has forever lost its ability to be usable for small transactions.

[Catenaccio]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

You can wait and you can use Bitcoin blockchain for small transactions again. Time is what you need because Bitcoin mempools can be loaded more or less with demands on Bitcoin on chain transactions.

If you don't want to spend expensive transaction fee and convert your bitcoins to dust, you can have chance to see your bitcoin increases in value and can enjoy cheap transaction fee in future.

In waiting time, you can use altcoins, I hate to say it, for transactions.

[Potato Chips]

TBH, if I have some low fee altcoins at my disposal on my hot wallet, I always use it for small purchases like my VPN.

Otherwise, bitcoin could still do provided that the mempool is not congested AF. Bitcoin miner fees are dynamic so it's not always high. Once price correction starts, perhaps we could see the single digit sat/vb or so again.

[Charles-Tim]

You can use lightning network. If you can not setup your own channel, there are some wallets that will provide you an easy way. What you will do is to download the wallet, do backup and start sending and receiving bitcoin. But just for little amount of money.

You can go for those coins pegged with bitcoin price. They are not bitcoin and they may be centralized to some extent. They can also depeg from bitcoin price.

[alastantiger]

Small transactions using Bitcoin are not worth it. However, what types of transactions would a person make with $20? Unless it is in a place like El Salvador, where Bitcoin is legal tender and many merchants accept it, I would avoid it. Merchants help their customers avoid high transaction fees by using lightning payments, which are fast and cheap. This is what makes it attractive. For example, the Strike App enables merchants to use lightning payments, which I believe is being used in El Salvador. There is also another app called BitPay, which also utilizes the lightning network for payments. You have to check which lightning app is available for your country.

[MrB.Easy]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

Bitcoin obviously cannot be used for small payments when the fees are so high. Several large altcoins can do the job for less than a penny per transaction. That's the way to do it for now. EDIT: Lightning network is also a good option, I currently have the habit of using alts.

[lionheart78]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

If the medium priority transaction fee price is more than 10% of the amount I am sending, I opt to wait for a while until the fee becomes lower.  I agree that it does not make sense to pay a fee equivalent to the amount we are sending.  If the fund is on an exchange, I convert it to another cryptocurrency that has lower fees and can also be accepted by the merchant or person I am sending the amount to.  

I might look for another option until the price of the Bitcoin transaction fee returns to normal ($0.3 - $1) and it did not make me completely stop using Bitcoin for small transactions.

[nakamura12]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

That reason won't be enough to make people stop using bitcoin for small transactions just because the transaction fee as of now have increased. It doesn't mean you can't send your bitcoin although it won't be confirmed right away and will take time before it is confirm when you set the sat/byte for lower or cheaper transaction fee. Anyway, if you really need to transfer small amounts of funds then using altcoins is also not a bad idea.

[Rruchi man]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

The high and unstable tx fees can be very discouraging to those who use bitcoins as currency.

As for me, I stopped using it for small transactions for other reasons not just this, because I consider bitcoin first as an investment. Using bitcoins for small transactions will be bad because it has the potential to affect what I am trying to Hodl immediately the habits gets used to me.

[ajiz138]

It makes no sense to make small transactions in bitcoin in a crowded mempool, you may be able to wait until sat/vB is low but it is uncertain when it will drop.
For now do not make small transactions in bitcoin, like gambling activities I prefer other coins that are lower, now for bitcoin only HODL.
Have you used this lightning network cheaper but unfortunately I have never tried.

[Jating]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

Isn't it obvious though, that when the fees are high, making a small transaction doesn't make any sense. But it doesn't mean we will go on the argument that Bitcoin should increases and be a big blockers, we have that kind of Bitcoin forks and they seem to die down already.

And it's not Bitcoin's fault that the fees are getting ridiculous, it's a deliberate attack on the network itself and just trying to put pressure on the devs and other individuals. Anyhow, for now, it's better not to do another small transactions and the best thing to do is wait for the mempool to clear.

Also there is a option called LN (Lightning Network).

[franky1]

You can use lightning network.
..
You can go for those coins pegged with bitcoin price. They are not bitcoin and they may be centralized to some extent. They can also depeg from bitcoin price.

the question is have people stopped using bitcoin.. not have people started using other networks
why do some people keep trying t promote other networks while pretending by using other networks they are still using bitcoin

other networks ARE NOT BITCOIN, even LN is not

Small transactions using Bitcoin are not worth it. However, what types of transactions would a person make with $20?

less than 1 billion people think $20 is insignificant/ only an hours labour
where as 7 billion people think $20 is significant and worth more then an hours labour

your question should be what types of people do you want to exclude from using the bitcoin network

seems to me segregation has a double meaning for bitcoin cores roadmap.. learn the other political/social meaning

[franky1]

Isn't it obvious though, that when the fees are high, making a small transaction doesn't make any sense. But it doesn't mean we will go on the argument that Bitcoin should increases and be a big blockers, we have that kind of Bitcoin forks and they seem to die down already.

And it's not Bitcoin's fault that the fees are getting ridiculous, it's a deliberate attack on the network itself and just trying to put pressure on the devs and other individuals. Anyhow, for now, it's better not to do another small transactions and the best thing to do is wait for the mempool to clear.

Also there is a option called LN (Lightning Network).

bitcoin has no technical reason to be restrained. its dev political motivated. when you follow the funding and roadmap plans of core devs it is their plan to segregate and migrate people away from native use of bitcoin. bitcoin core added an exploit 8 years ago, which is being abused 2years ago to cause these annoyances/attacks and core devs have had 8 years of knowledge of the exploit and a few years of seeing the annoying results of its impact. but all they care about is migrating people away from using the bitcoin network.
even those performing the attack/annoyance are funded by the same groups promoting the segregation of majority/trying to push people into migrating people over to the other network(rich/poor divide)

anyone telling people to:
use another network
stop using bitcoin
wait weeks, month, years and hope the utopia fixes itself

is not a ally/friend of bitcoin

if they think their reasons are justified that spending $50 for 1 tx is fine but spending $50 spread over several years for a hard drive to store decades of transactions is some how bad economics.. those fools have their maths the wrong way round, and no understanding of math/economics of utility

as for the 'do nothing, just wait' i think 8 years of waiting for the promises of bitcoin scaling to offer more transactions of cheaper fee is enough waiting. lets accept it the promises made 8 years ago have not been met. and no, other networks are not the solution. they are the diversion

other networks only provide small niche sub services of options. and should not be thought of as the ultimate replacement utility.

its funny how those that support other networks are the solution where 'small' transactions should occur. but in same breath they dont want the 'small' transactions of bloat/spam to be stopped

anyone promoting to not censor junk, but to sensor genuine bitcoiner utility have thigns the wrong way round
bitcoin HAD rules to articulate every byte as having purpose. those rules have been softened and many transactions always have been:
'dropped', 'scrubbed', 'evicted', 'orphaned', 'pruned', 'unrelayed' and many other terms that made bitcoin clean and purposeful.
suggesting bitcoin should be filled with junk but actual use should be delayed/migrated elsewhere is a social-con, a social abuse of trying to suggest bitcoin shouldnt be used by bitcoiners

[uneng]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

I have never used Bitcoin for small transactions. It has never been a good alternative for such negotiations. It's better to use Bitcoin for big and valuable purchases, so the fees you are going to pay totally worth when you dilute it inside the total price of the transaction. If you send too many small transactions, you are going to waste a lot of money in fees. If that is what you are looking for, you should look for alternative altcoins which present cheaper transactions fees. At least on this matter, altcoins have a very practical function.

Anyway, if I have a large transaction to do, I won't refrain doing so just because I have to pay a 20$ fee, because compared to the total value of the transaction, 20$ won't be a significant amount of money. So it totally makes sense to keep sending these transactions across the network, despite the high fees costs. What I suggest you doing is to accumulate the maximum amount of satoshis you can before moving it to another address. Don't be in a hurry. Thankfully we are in a good moment of crypto market to hold, so you can wait for the next increasement in price which should take Bitcoin to a new ATH.

[Sandra_hakeem]

For small transactions, yes!  
The mempool is currently congested and there's no two ways about it - atleast for a layman. I'd say running a lightening network node is an alternative but, there has not been any update about it since the last time.. Plus you'd have to pass through several processes of creating a channel, manual tweaking etc .. I prefer integrated transactions instead.

less than 1 billion people think $20 is insignificant/ only an hours labour
where as 7 billion people think $20 is significant and worth more then an hours labour

7 billion? Well, I understand your enthusiasm and nobody is against Bitcoin either, but do you have a chart to prove your estimation?

[tabas]

Small transactions on bitcoin does not make any sense now at all. Like to make a $20 amount transaction, one has to pay about same amount, $20 in fees. This does not make any sense. Have you stopped using bitcoin for small transactions completely because of this reason ?

Yes, it doesn't makes sense if I'm going to pay with that amount and the transaction is even lesser than that. It's okay to stop for a while because the fees are going to calm down. As I type this, the fees are still quite high and the high priority is gonna cost one to pay $6 and that's still a lot. Before with the ordinals, the fees are the same but eventually it has became lower and that's why it's best to wait if you are not in a hurry doing that transaction but if you are, you have no choice but to pay that.

[Stalker22]

Well, for some folks, Bitcoin resembles an investment like gold - a way to stash value long-term, even if its not great for everyday purchases.  The possibility of appreciation matters more than trivial transaction costs.  Consider it a high-security bank vault for savings, where access takes some effort. 

But thats drifting from Bitcoin's original purpose as fast cheap peer-to-peer payments and  the stunted capacity is unfortunate.  Complex addons like Lightning feel inadequate; the base layer itself needs an upgrade.  The core devs ought to confront the scaling limitation more directly, imho.

[Assface16678]

In these days, committing to this kind of transaction is not practical or simple not a good thing because you will also pay a high transaction fee, lucky if that day the transaction fee is not that high, but still doing transaction in bitcoin with that small amount doesnt make any sense l, that's also why adopting bitcoin or accepting as a mode of payment is hard to implenent because its not practical to do transaction that is lower than the transaction fee, so this concept is need to be discussed and study further more, added with congested network so the transaction make took some time before it will be completed so yeah it is not practical so I dont also do transaction with bitcoin that I know is not efficient. If you want to just do fiat or other crypto currency, not bitcoin, it will also be a waste to use your bitcoin holdings as payment or whatever.