Maybe I’m wrong, but today there is no action on updating the Bitcoin blockchain. If we compare the current situation with ethereum, then the developers are working in this direction, which showed good results after the last update, namely, the transaction speed has increased and the prices per transaction have decreased. If the same thing happened in the Bitcoin system, one would hope for a bitcoin transaction price reduction at least.
in the development of crypto currencies and crypto markets no one can know for sure and all possibilities can happen and no one can know for sure one day will surely develop better because it will be needed for the economy 
Topic: bitcoin transactions costs in the future - page 2. (Read 1786 times)
I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.
It will go low as the number of users will go high then the number of transactions will go high and it will create low transaction fees for exchanges and other platform that will deduct transaction fees will becoming a competition for them to atteact users or traders in their platform. As we all know that traders or users prefer low cost transaction fees and this is already forseen by the platform devs.
I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.
~
If someone increase the transaction fee then it would get priority and will confirmed first but normal people will try to keep the fee as low as possible some if someone or few trying to increase it won't even last long for a day.
If someone increase the transaction fee then it would get priority and will confirmed first but normal people will try to keep the fee as low as possible some if someone or few trying to increase it won't even last long for a day.
It depends on the amount you want to transfer. No one wants to pay $4(the highest fee currently) transferring $20, but if it's $20,000 and you want it fast, why not? Apparently, not so many people are craving for their transaction to be included in the very first block. They decide to wait additional 10-15 minutes but save around $3 on tx fee, and thus we don't have fees race, when transaction fees go higher and higher. The above mentioned race can be bad not only for regular users, but for miners as well, because if BTC price goes down consequently, they lose a lot of USD on each block reward.
I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.
In some years we won't need mining because we are reaching the full capacity , when it will be entirely mined then there won't be any income generated by the mining.
Now when we are talking about the cost , have you tried the lightning network payments or payments using segWit Integrated addresses ?
In those you can actually choose your own fee according to your urgency of transaction, therefore in that way the transaction fee is decreasing day by day , I think it won't be entirely free , maybe free only if you buy a subscription for the particular company and such , because even the wallets and the firm's you are investing in needs some money for the fact that they are providing this service.
Making it free , won't it be an injustice ?
Now when we are talking about the cost , have you tried the lightning network payments or payments using segWit Integrated addresses ?
In those you can actually choose your own fee according to your urgency of transaction, therefore in that way the transaction fee is decreasing day by day , I think it won't be entirely free , maybe free only if you buy a subscription for the particular company and such , because even the wallets and the firm's you are investing in needs some money for the fact that they are providing this service.
Making it free , won't it be an injustice ?
I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.
wayback on 2017.Fees are still low and we can already see network tx's are almost the same on numbers
which do really proves out that it had been spammed before.
I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.
Without any fee we cannot expect bitcoin transactions to take place, miners were the people who help in making every transaction with certain fees which gets used for the electricity, equipment and other service charges. In the future there'll be sure increase in fee, probably legalizing bitcoin usage will help with the support on electricity generation through renewable resources.
in fact there are many benefits obtained from the creation of crypto currencies and all of their economic technologies, but all technologies depend on the intentions and purpose of the users.I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.
Without any fee we cannot expect bitcoin transactions to take place, miners were the people who help in making every transaction with certain fees which gets used for the electricity, equipment and other service charges. In the future there'll be sure increase in fee, probably legalizing bitcoin usage will help with the support on electricity generation through renewable resources.
in fact there are many benefits obtained from the creation of crypto currencies and all of their economic technologies, but all technologies depend on the intentions and purpose of the users.
I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.
but the use of excess energy, especially solar can cause increased global warming.
Wow, we have a candidate to replace Al Gore here...
I wonder what's so special about solar panels that is causing global warming faster than burning oil/as/coal.
The transaction had fees because of the reason for the energy/resources. Once the miners could mine with a lower cost, the senders would demand a lesser rate.
TX fees might be lesser in the future, yes that's correct because occurring problems are being solved gradually.
The only thing I see here with solar is that it will reduce the cost of bitcoin transaction a little bit if applied.
I once argued with somebody that 99% of the people here have no clue how mining and bitcoin transactions work.
From all my heart, thank you, people, for proving me that I'm not entirely wrong in my estimate.
Anyhow, guess I'll have to report this topic to get locked, nonsense concentration levels are starting to get really dangerous.
using solar power generation technology does not mean that miners do not need a fee, remember that the equipment they use at any time definitely needs repairs and that it costs money.
Therefore the costs for bitcoin transactions will also always be there. because miners also need to benefit from what they do.
Miners cannot still shy away from their responsibilities no matter how much they try to economize. The cost of setting up that solar technology that will power those mining machines is also not a child’s play, the fact that they don’t get to continuously make payment on solar technology doesn’t mean the heavy amount paid for it at the initial setup should not be considered, and moreover, solar technology also requires maintenance, and some of its maintenance also could gulp lots of money. Therefore the costs for bitcoin transactions will also always be there. because miners also need to benefit from what they do.
I don’t know about other countries, like my country where electricity is poor, we use solar here and the cost of changing those batteries every 2 years is very expensive. The only thing I see here with solar is that it will reduce the cost of bitcoin transaction a little bit if applied.
we have already seen bitcoin transactions may cost around 5 dollars for even million dollars transactions recent example of this transaction is Binance did huge transactions to their cold wallet which cost then few dollars after bitcoin halving we may expect less fees
I think the transaction costs when you use bitcoin when the price has reached $ 20k more or more expensive then the exchange of transactions that will occur will be very expensive because the price of expensive bitcoin exchanges will have a very significant price effect. 
Well I think that as long as the price stays low, we are not going to have any problem with transactions fees being too high and unaffordable. My problem is those people who are wishing that the price of Bitcoin should get to $1 million just because they are greedy and they want to make quick money and buy islands and become rich. These people forgets that as the price of Bitcoin gets high so will the transactions be getting high as well. With the way Bitcoin has been going, I'm guessing that if 1 Bitcoin should be up to $1 million then we will all have to be paying up to $100 thousand for a transaction lol.
So, what are you trying to insinuate now, that the price of Bitcoin should remain low for us to continue to enjoy low transaction fee which I doubt if anyone will support you on that because I believe that while we have 90 percent of people who are wishing that the price of Bitcoin continues to surge and are willing to pay any amount for fee provided it is still the same Bitcoin that gives them the profit in it.Bitcoin transaction fee when high, only does not favor this who are basically using it for utility, which is also why we still have other reliable altcoins that are good for payment with low transaction fees?
We are improving on renewable energy as well don't forget that, electricity will be cheaper and when its cheaper we will have the chance to drop the cost of bitcoin mining as well and when we drop that the transactions could happen a lot cheaper too. However no matter what the idea should be involving more transactions in one block so we can just make it go faster, the cheaper transaction can't be done without actually finding a way to transact more inside one block, making it quick is not the solution, making it same speed but bigger is the real solution.
When one block has 100 transactions and mined in 10 minutes vs one block have 1000 transactions but mined in 20 minutes it is always better to pick the more heavy block for all of us. That will make sure the costs will drop in the future.
When one block has 100 transactions and mined in 10 minutes vs one block have 1000 transactions but mined in 20 minutes it is always better to pick the more heavy block for all of us. That will make sure the costs will drop in the future.
we have already seen bitcoin transactions may cost around 5 dollars for even million dollars transactions recent example of this transaction is Binance did huge transactions to their cold wallet which cost then few dollars after bitcoin halving we may expect less fees
His point is about the renewable energy that the miners are using.He concluded that fees should be free because of that but hey it won't be free since it won't be called 'fee' if its free. TX fees might be lesser in the future, yes that's correct because occurring problems are being solved gradually.
The transaction fees are what keep miners mining, even with the access of these wind turbines and and solar panels they the electricity may not be cheap due to it, they miners needs to get paid well. The other option to take is to pick an altcoin where transaction is lesser. There are stable coins too, it that makes the charges fixed.
Not really. As of now, the transaction fee represent less than 10% of the mining reward. The remaining is the mining block reward and the levels will remain the same for another year or so. Even after the block reward halving in 2020, the share of transaction fee will increase only to somewhere in the range of 15% to 20%, and it will stay so till 2024.
Jump to: