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Topic: Bitcoin expensive to use (Read 838 times)

full member
Activity: 672
Merit: 100
November 12, 2018, 01:04:26 PM
#52
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?
0.001 per transaction is a low fee level not too high. This fee has not changed and has been a fixed fee for the past ten years. The Bitcoin price change has made the value of 0.001 so high that you feel that this is a high level of fees.
full member
Activity: 546
Merit: 100
November 12, 2018, 12:58:30 PM
#51
Bitcoin use is not very expensive but it's earning is very expensive and it is very common that now people have many coins and they are mostly interested in crypto mining and trading so bitcoin is then on other side and for ordinary people it is better way of online payment system and i hope that for the reason when it was designed it is fulfilling that and bitcoin is good because it is low fee for transaction than processing any transaction through banks.
jr. member
Activity: 378
Merit: 4
November 12, 2018, 12:50:33 PM
#50
thats why lightning network created.its very cheap for small amount however it has still some bugs and low transactions.i believe its going to be used many people in a few years.
full member
Activity: 602
Merit: 100
November 12, 2018, 12:38:01 PM
#49
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?
for me a 0.001 commission is not too big if we see our profits when we trade on a stock exchange network, besides that the commission price is in accordance with the benefits that we feel. and this commission does not occur every month as you would save your money in a bank.
full member
Activity: 546
Merit: 100
November 12, 2018, 12:01:05 PM
#48
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?

Many cheap altcoin to have and to learn trade or earning bitcoins.
So newbie is better to start buying altcoin and learn to use them before they use bitcoins
legendary
Activity: 1316
Merit: 1145
November 12, 2018, 11:56:55 AM
#47
if you are not comfortable using Bitcoin. you can switch to altcoin. but for a large number of transactions. Bitcoin is very good to use than altcoin. indeed the price of bitcoin is very expensive. and for beginners, you can start from altcoin. after reaching big. can switch to Bitcoin.
jr. member
Activity: 182
Merit: 1
Looking to the future and control myself
November 12, 2018, 11:16:51 AM
#46
the bitcoin now have big price in the crypto market, and the fee is permanent in transaction: 0.001$ in many exchanges, so i think it is too expensive, if we exchange to usd, this is about 6.3, so we have a hight fee to practice our transaction. If the price of bitcoin will increase in the future, the fee can increase too.
full member
Activity: 457
Merit: 100
November 12, 2018, 10:55:16 AM
#45
I never thought that the cost of sending or using bitcoin was expensive, because it was comparable to the higher price of bitcoin.
yes in my opinion, bitcoin is very expensive, if not rich people will not be able to buy or invest. bitcoin actually can beat gold. so we never underestimate bitcoin even though the price drops.
full member
Activity: 546
Merit: 100
November 12, 2018, 09:03:47 AM
#44
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?


This is completely related to the amount made in the transaction. While it is advantageous for high-consistent operations, it is disadvantageous for low-consistent operations.
full member
Activity: 280
Merit: 100
November 12, 2018, 08:53:56 AM
#43
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?


This is not like your assumption, you can have bitcoin from bits to bits like the gold chunks you say, you can start from trading or investing in order to bring in every profit. so you can do it from bitcoin trading with altcoin.
full member
Activity: 840
Merit: 101
November 12, 2018, 08:47:01 AM
#42
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?

Yes, it is expensive especially if you're not a rich person. That's why there are cheap altcoins where you can invest. There are altcoins that have a great potential to grow in the future.
full member
Activity: 700
Merit: 101
November 12, 2018, 08:29:09 AM
#41
I never thought that the cost of sending or using bitcoin was expensive, because it was comparable to the higher price of bitcoin.
newbie
Activity: 35
Merit: 0
November 12, 2018, 08:22:54 AM
#40
It is really too expensive for small transactions, it is like paying double.
member
Activity: 336
Merit: 10
November 26, 2017, 08:48:22 PM
#39
Bitcoin is expensive to use because the cryptocurrency adoption is up. Bitcoin is at all-time highs right now. As bitcoin grow in popularity, so did all cryptocurrencies which are cheaper than 1 BTC.
legendary
Activity: 1372
Merit: 1014
November 26, 2017, 07:57:43 PM
#38
That is what LTC is for  Wink
hero member
Activity: 720
Merit: 500
November 26, 2017, 07:55:21 PM
#37
Honestly its not that expensive at any price. Few months ago when bitcoin was at 2700$ I thought absolutely same thing, and after few weeks I purchased bitcoins at 5200$, Now I am almost doubling the profit. I am sure if you buy it today at 9400$, after a year or two you will have 100% profit.

Wow you are really lucky and you have made the right decision in right time.

Well bitcoin is not expensive but the fe of the transactions has to be adjusted otherwise miners will get all the money.
sr. member
Activity: 1372
Merit: 269
★Bitvest.io★ Play Plinko or Invest!
November 26, 2017, 07:53:02 PM
#36
I think Bitcoin when you buy it in whole is expensive but if you buy it in part, it is not.  That is the good thing in Bitcoin, we can buy it by parts.  With regards to the transaction fee, I do not think that it is expensive, and it varies depend on the number of people demanding the confirmation.  Aside from that if you buy Bitcoin, you also have the value of that money in Bitcoin, so I think you do not lose or put anything to waste here.
legendary
Activity: 2562
Merit: 1441
November 26, 2017, 07:50:50 PM
#35
I would like to make a case for bitcoin not being expensive to use.  Smiley

There's a 9% to 14% sales tax in some US states. This implies that if a person makes a $100 purchase, their sales tax could be $9 to $14. Purchasing something that costs $100 in bitcoin and paying xfer fees is much cheaper than a $9 to $14 sales tax in fiat.

In europe, there is something called a VAT (value added tax) which is like their equivalent of the sales tax the USA has. The VAT can go as high as 20% on goods and services which qualify. 20% is a far more massive value than the cost of bitcoin transfer fees.

One might make a case of the euro and dollar charging far more in sales tax and VAT (which are almost like fiat transfer fees) than the cost of using bitcoin.
hero member
Activity: 686
Merit: 500
November 26, 2017, 07:22:45 PM
#34
Explain to the newbie because with the increase in the value of bitcoin grows and Commission of the network 0.001 (if I'm not mistaken) it is very expensive. Bitcoin to become like the big ingot of gold, which is a pleasure to own but it is inconvenient to use in everyday life. The community decides for ease of use, or we will move on to altcoins?
Bitcoin is nowadays used more as a store value and so,it would not be an issue.If it has been thought like that,then already many would have switched to altcoins.But it has not occurred.Segwit was activated to solve this issue and it was also solved to some extent,but some miners just mine empty blocks to make transactions get stuck and so,transaction fee has increased.
full member
Activity: 588
Merit: 101
November 26, 2017, 07:18:21 PM
#33
Yes, it is very expensive to send small transaction via bitcoin as it reaches its max transaction throughput. It is a hot topic on how to scale bitcoin. So bitcoin is more like a digital gold for storing value and less like a cryptocurrency for daily transactions.

Bitcoin became more of a asset or investment than being a currency. I don't know if its a good thing or a bad thing for bitcoin to go over the price right now because there is a positive effect whether it goes down or up, if bitcoin price goes up investment rises and if the price goes down less transaction value.

If the question is bitcoin expensive to use then yes it is, but it depends on your reason of using, if you are only use bitcoin for gambling, buying things etc. then it is expensive but if you're about to use it for quick sending then it is not expensive at all. The purpose of why you use will tell you if its expensive.

for now the function of bitcoin as currency is still not maximal. most people still use it as a commodity with a very high sale value. well, because bitcoin has not been recognized globally, so the use of bitcoin is still limited to other users.
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