In terms of USD value are transaction fees going to get more expensive over time? At ~13 cents USD they're pretty high for transactions under $10. Now this doesn't affect me personally. But we see a lot of talk about bitcoin helping out the unbanked, and bringing bitcoin to Africa and such, and higher transaction fees are really going to limit bitcoin's potential in certain markets.
Do you think at some point we'll see miners voluntarily reduce transaction fees? Or perhaps the opposite, more and more miners not including low fee transactions thus driving the price up.
As the market is now, are we heading towards increases? Or do you think the transaction fee issue is one that will be resolved on it's own? I think some people might underestimate how much of a limiting factor it could be.
Do you think at some point we'll see miners voluntarily reduce transaction fees? Or perhaps the opposite, more and more miners not including low fee transactions thus driving the price up.
As the market is now, are we heading towards increases? Or do you think the transaction fee issue is one that will be resolved on it's own? I think some people might underestimate how much of a limiting factor it could be.
Sooner or later , people will stop offering such high fees and miners will be forced to accept these lower fees.
This may not happen in the short term , but when the fees exceed around 25c , it will hit a hard cap and fees will definitely reduce.
