Topic: Cryptocurrencies now days are more than money! very high cost and fees high now! - page 3. (Read 742 times)

Comparatively, yes there was a time bitcoin fees where very high and annoying, I think sometime middle last year but with what the fee is now, I quite prefer it more than fiat. Etheruem also is very affordable.

I remember those days when eGold was still so popular especially with online programs but that can be categorized akin to stablecoins we have now as the value is not deflationary like bitcoin and the rest of the gang. Now, we have cryptocurrencies taking the marketplace by storm. Aside from its use as a currency or money, bitcoin can also be a store of value that can rise depending on the market dynamics. Yes, the problem sometimes is that the transfer fees can go astronomical depending on the volume of transactions clogging the network. There must be something that can be done to solve this problem. There are still many things we should do about this platform and I am sure we will eventually get there.

I made a bitcoin transaction not quite long from now and the fee is still within limit, nothing have changed that I can obviously observe. Not withstanding that, we can't compare the fees charged  on crypto transactions to what it is in fiat especially with huge amount. Fiat is more and causes delay.

Where you get this analysis? I have recently traded some bitcoins with very low transaction fees and this exchange also provide a secure wallet.
"Trade with Confidence"

I agree it is as simple as that you should just try other crypto and for me the best one to use would be ETH,
And why would you be sending your crypto if you are going to trade it then it is better to keep it on a good and trusted site since you worry too much about the transaction fee.
But if it is nothing important then why would you even bother sending it?

yea, it is still a currency however and how you rate it depends on the part of the world where you are.one of the most active reason for creating bitcoin is to help distribute wealth. and to achieve this the value must actually worth it. for cryptocurerncy to emerge the world currency, its value must be attractive enough.

The higher the demand, the higher the price, the higher the tx fees because of high demand which automatically leads to increased amount of transactions, peoplr want to get confirns as soon as possible, because of increased competing, fees rise overally.
There is ine solution for you to use bitcoin tx accelerators (viabtc for example) or convert your bitcoins and use another coin, a lot of altcoins have ultra low tx fees.
Current period is nothing, situation was insane when price hit to 20k.

It's still faster than any cross border banking transaction, and cheaper as well. I agree bitcoin's transaction fees have gone up recently due to higher number of transactions and price, but it's still cheaper than banking wire transaction.


Liberty Reserve, Alertpay, Payeer - these are all payment processors, not a coin! So don't compare these two as it makes no sense at all! Try comparing Apple to Apple, not Apple to Jackfruit!


That's your call! If the price of cryptocurrency becomes stable, it will not be considered as an investment. It will then be used as a currency only and we don't have many places where we will be able to use it. In longer term, I would definitely want it to be stable as the adoption grows, but for now, it looks great as an investment with fluctuative price!

Aren't you saying you don't think crypto is useful as a currency as opposed to an investment?  They're two different things, you know. 

Network fees and confirmation times are definitely a pain in the ass when it comes to bitcoin (usually).  Altcoins generally don't produce the same frustration, but I digress.  But those negative aspects affect bitcoin's utility as a currency.  People who want to buy bitcoin as an investment probably don't really care if it takes a while to get their transaction(s) confirmed, and if that's the case then large fees don't need to be included for transactions anyway.

I agree with most of your points, OP.  I've always been skeptical about bitcoin being a fiat competitor for exactly the reasons you mentioned.  Joe Blow on the street has no reason to figure out a way to buy bitcoin (not always an easy task) in order to buy something that he could just as easily pay for with cash--and that's if the merchant who's selling what Joe Blow wants to buy accepts bitcoin anyway.  This is why most people haven't adopted bitcoin.

But I've always supported bitcoin as an investment.  And it is also useful when you want to buy something online from a merchant that can't accept credit cards (try buying marijuana seeds or kratom or other gray market items with a credit card), and it obviously has been used on the dark markets.  Anyway, looking at the current market price right now it's obvious that investors are looking past all the drawbacks and are seeing bitcoin as an excellent investment.  I'm definitely happy about that.

what crypto you're talking about?
xlm transaction fees are cheap, xrp too. you can use eth and will pay less than $1 in extreme case, for quick confirmations you should pay less than $0.1.

saying crypto is not worth investing just because 1-2 crypto tx fees are quite high is unjustifiable imo, you're generalizing way too much. you already have stable coins as well if you want more predictable fees (usdc, usdt and most stable coins fees are around $1 from exchange to exchange).

Everyone has a different analysis, and I like your analysis of crypto fees.
If the fee is expensive, there is actually a good solution trying to use another coin that has a cheaper fee. XLM / stelar applies a low fee on every transaction. I think it's worth a try.

Cryptocurrencies now days are more than money! very high cost and fees high now!

I thought that it going to be easier and faster then banks in the old days and fees were reasonable, but now days are getting very high fees and takes mostly 30 mins...

Not only CryptoCurrencies the only digital money the only available, back then used to use liberty reserve and e-gold which was good and you send USD and keep the money which stays the same amount you pay for, and sometimes worth even more...

E-gold was a digital gold currency, back in 2000 and 2014 was much famous and usable at the time, you log in they send you to email confirmation, and you get number in email and you copy and paste on website to be able to log in, that's besides password of course that was better then 2 Factor authorization now days.

then it was closed for some time and lost it famous and everyone goes to use liberty reserve, which was also good at a time, I know it might be good for money transfer and may be used in illegal transaction, I do not know, I didn't use it illegally, used it for normal transaction and buy online usually, and keep transaction anonymous, which I do not think it's anonymous much.

Then I stumble upon the CryptoCurrencies and was a hit back then, I do not know what is happening nowadays, which makes fees very high and not as same as US dollars, which makes it unclear to know the item price that you are buying or if you merchant it's hard to know how much US dollar equivalent you have to get in order to ship item or even if it's digital item to calculate the fees to keep the fees out of the profit.

It's really good to have CryptoCurrencies, but it will be good if it's stable more, then it's now. or at least US dollar equivalent as the same as static currency, it's now more dynamic.

Some people think it's good to invest in CryptoCurrencies, but I do not think so.