Fees | Bitcointalksearch.org

Coin-1

legendary

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Quote from: mcsean2163 on February 02, 2018, 03:25:49 PM

The fees seem to be the biggest reason cited for bitcoins impending demise.

Will the fees ever reduce to a reasonable amount?

I think, not in the near future. The Lightning Network is just an external wrapper outside of the blockchain of Bitcoin, which requires a big banking hubs. The transactions of the users will be merged by the channels of this technology, but the internal fees of Bitcoin won't be reduced.

o_e_l_e_o

legendary

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Quote from: LFC_Bitcoin on February 02, 2018, 03:30:29 PM

Yes! Both Lightening Network & a future Block Size increase will result in smaller fees & perhaps faster confirmations.

Pretty much this. The fees will reduce and speed will increase in the future, as the new changes are rolled out. The question is whether another coin that is cheaper and faster (such as Ethereum), or even instant and free (such as Nano/RaiBlocks) beats Bitcoin out before then.

In the meantime, fees are actually pretty low. You can see the current mempool and estimated transaction times at the sites below:

https://core.jochen-hoenicke.de/queue/#2d

https://bitcoinfees.earn.com/#fees

mcsean2163

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Wow, that's interesting! I've been out of the loop! What do you think a fee for a $100 transaction with ln will be?

surfinonmyownwavebaby

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Among a lot of other reasons including the FUD from China, Korea, and India. Add that together with Tether and a huge surge in December and you have what I call inevitable January. Don't fret though Bitcoin isn't going to die it will survive and yes the fees will get much cheaper when LN gets added. At the same time speed will get increased as transactions would then be near instantaneous!

LFC_Bitcoin

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Yes! Both Lightening Network & a future Block Size increase will result in smaller fees & perhaps faster confirmations.

mcsean2163

jr. member

Activity: 42

Merit: 4

The fees seem to be the biggest reason cited for bitcoins impending demise.

Will the fees ever reduce to a reasonable amount?

Topic: Fees (Read 122 times)