Topic: Bitcoin transaction fees are too high, obstacle for adoption and in general - page 3. (Read 369 times)

Bitcoin isn't perfect but people can make their transaction with lower transaction fee and still be able to buy wanted items. Like you want to save your money, prepare money for Black Friday with massive discounts on many things.

With Bitcoin, you can choose times to make transactions with cheaper fee, like weekends and when mempools are not too congested. If you can prepare more like consolidate your inputs when fee is cheap, you are good when fee is higher or expensive. Use Segwit address bech32 bc1q for your transactions. By doing this, you self help yourself and minimize cost for your transactions.

People can choose altcoin networks, stable coins for cheaper fees when they don't see fit to use Bitcoin network.

The mempool has gotten down to 16 sat/vbyte recently and not getting much higher than expected, unlike what happened when Ordinals and Inscriptions transactions began that led to mempool congestion.

You can use lightning network. Or get use to the onchain fee as odolvlobo commented earlier.

Well, you will have to get used to it. This is what is will be like in the future. Bitcoin's success means higher fees.

Well, currently there is no more than a $3 dollar transaction fee and you are saying people have to pay $30 dollar fee on 10 dollar worth of transactions. You can check for yourself from the Bitcoin Fee Graph that it was in the previous month when the fee reached to 30 dollars but after that, like after 18 May, the fee begins to reduce and now it ranges from 3 to 5 dollars if i am not wrong. And, i think it is still not that much for those who are making millions of dollars of transactions because they are still paying less than 10 dollars (max) to transfer funds from wallets to other wallets or exchanges.

Well, when Defi projects were inscribed into ETH in past, then it was also congested like BTC, and still the transaction fee on ETH is more than BTC idk why you mentioned ETH. I do not know about LTC but according to graphs, the fee is less than cents. Well, it also depends on the functionalities and adoption of the token, And despite the fact of high tx fee, people are still using it but few no doubt have left BTC as a payment method.

You are a bad motivational speaker (haha) just kidding no disrespect. So you have chosen the side, as there are many people who do not want this ordinal problem to get solved and many developers are also included among those people. But no doubt there are others too. Well, let's see what good this problem will bring when its solution will be released. But till then, people are making hell lot of money out of BRC-20 tokens.

Hi,

I just wanted to share my thoughts about the high Bitcoin transaction fees.

I see people paying USD 10 for an item, and then paying USD 30 in fee for the BTC transaction, and I realize that this is not sustainable. And its impossible for BTC to become a mainstream payment method if the price is increased with x3 when you buy something.

I understand that the "network is congested" and im sure people are working on it. But in my opinion this should be top priority no 1! It is hard to explain to people all the time that they should use LTC or ETH or something else when we just started to get people to trust Bitcoin.

What is my suggested solution? That the people that can actually do something about this, the people involved in the development, start to act like grownups and sort this issue once and for all!

Im not going to solve it, not with this article and not by complaining. But others can and they should!

This is not sustainable over a longer time. Bitcoin popularity might be increasing but with fees like now it will never really work.

Please some intelligent involved developer read this and get motivated!

<3