Topic: Fees are killing/have killed Bitcoin.... it is sad but true. - page 3. (Read 736 times)
I really agree time will come most people would rather hold bitcoin as an invetment and not a currency because using bitcoin really suck due to high transaction fees with this thing the market of bitcoin might fail and people will shift to alternative coins which are faster and has a very small fees. As much as investors would love to have bitcoin because of fees they might make a lot of thinking and this will really kill the market bitcoin which has been establish for a decade
These transaction fees has surely discouraged a lot from the use of btc and has left the others with nothing much to do. There is hope on the imposition of the lightning network, and the use of segwit addresses has alleviated it. If the transactions fees and long confirmation time were not given a solution, it would definitely make it hard for bitcoin users from utilizing the coin.
The fees have severely harmed bitcoin but they have definitely not killed it, there are still solutions in the pipeline and people have belief for the future. If it persists for a long time then it can really damage bitcoin but it won't come to that.
yeah agree with your statement...as we know that bitcoin prices jumped drastically in the last year but the price makes the fee for each transaction more expensive too and it makes all the prices that use bitcoin as a means of payment to be unreasonable.example like you say the price of a coffee cup 5$ plus a fee 20$, so the price for a coffee if using bitcoin be 25$.if you thinking is a insane price of coffe cup a 25$.perhaps if things continue like this, everyone will turn to invest from bitcoin to altcoin
But the problem is that it will be never be solved. A lot of people are here only for making money purposes,and they all are trying to do as much as possible in order to earn. And what do you think, they will risk all their money just because of a dip? of course not, that is why they sell everything.
Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.
For now, im holding and trading only the extreme price changes.
Well i believe that BTC have such a high status, that people will want to trade it.
I believe that eventually the whales will sell out, the coins will be devided on more persons, and the price will stabilize much more because one guy selling will not make the same impact on the price.
I dont see BTC as a usable currency in the future, rather as an asset, traded like gold between its owners, and traded because of its status. In this scenario the fees will not be just as inportant, because people will not use it in everyday life, but only as a longterm investment.
But this is just what i think, and the chances i have foreseen the future is literally extremely low, because there are so many possible outcomes.
These transaction fees has surely discouraged a lot from the use of btc and has left the others with nothing much to do. There is hope on the imposition of the lightning network, and the use of segwit addresses has alleviated it. If the transactions fees and long confirmation time were not given a solution, it would definitely make it hard for bitcoin users from utilizing the coin.
But what the heck is that pack of the 1sat/B transaction with the size more than 40 MB?
Protest vote and people are sending $0.01 maybe and I don't blame them myselfWhy don't these sites just give us the cost in $UDS because that's what we pump into the machine
You broke my browser you know
I am sure that in the future the fee problem will be solved for btc cuz if it is not solved it obviously will harm btc more and more until some other coin takes it`s place.
I'm ready to be stoned for my next words but I'm pretty sure that the problem will be solved within the next 2-3 years because at this point >90% of all people have moved on to other coins (because you can't do shit with bitcoin anymore). I expect bitcoin to become finally stable at about 250$ in 2020 or 2021. 
Nope. Already near 19% of transactions are using SegWit and transaction pool is not so big as it was. Also now a correction continues so price of almost every cryptocurrency is very low
Mempool at about 135,000 today and in the past it was at the same number so if fees are set by "Market Forces"
then how come they are about $15 today and in the past when the pool had about the same number were we charge
$40 ?
Monopoly by miners maybe https://blockchain.info/pools or was the code changed in the full nodes to simply use lower fees
Hey you don't think the BTC prices going down has anything to do with what miners can rip us off for do you
When did you send you last transaction? What services do you use to estimate your fees? People are simply overpaying for their transactions. I have seen quite a few transactions which were confirmed with a fee 60 sat/b so it isn't a lot. Most of the exchanges and web wallets don't allow you to use your custom fee. There is no room for small transactions in Bitcoin these days so that is why we need Lightning Network which aims at making micro-transactions possible. Give it some time, don't overpay.
I usually check the actual fee structure (usually several times a day) on blockchain.info:https://blockchain.info/charts/mempool-state-by-fee-level
Today I just realized something weird:
It's OK that the regular fee is around 50 sat/B, it's very friendly rate compared to the end of last year...
But what the heck is that pack of the 1sat/B transaction with the size more than 40 MB?
Is this a bug in the blockchain.info script or I don't know. I just can't imagine that people are sending their transactions with such a low fee. Even if they're thinking about accelerating the transaction later on, ViaBTC needs at least 10 sat/B for a transaction to include it into their free spots.
I'll have an eye on that for now
It is true transaction fees really affects the bitcoin market from gambling, sending fund, shopping online amd even making just a sort of withdrawal there is also certain cases where the amount of fees is higher than what you are going to expense. I think this is an important issue that needs solution from developers of cryptos because if this will continue I don't think the market can stay for long
I am sure that in the future the fee problem will be solved for btc cuz if it is not solved it obviously will harm btc more and more until some other coin takes it`s place.
The huge fees is getting its solution I think its the chronic disease of FUD's that is killing bitcoin in general. If we see as a whole today there are lot of people involved in crypto trading so just a slightest of a rumour is more than enough to burn the whole market these days. Fees problems is getting solutions like the lightning network and segwit. Segwit itself has been good at removing high fees problems.
The FUD is often based on facts like slow speeds, high fees and you forget that Segwit came out five months ago and fees just kept going up so trust in the development team has been lost because they sat on their hands and did nothing. Lightning Network now has the spot light
on it and many developers don't like what they see and Mr Poon is not answering emails
Have you taken the time yourself to read the lightning white paper to understand just whats going on ?
https://lightning.network/lightning-network-paper.pdf
Quite simply if you care to look the correct name for "Hubs" is banks and Channels are "Credit Lines" but if your not convince
then search the document for "Savings Account"
Nope. Already near 19% of transactions are using SegWit and transaction pool is not so big as it was. Also now a correction continues so price of almost every cryptocurrency is very low
Still High, but is going down
Falling fees for now doesn't really cut it. Either Coinbase could decide to up what they're paying ridiculously again or miners might decide to start spamming. High fees are a permanent addition unless Bitcoin's in a fallow period. Even if there is one if any merchant acceptance comes back it may well be extinguished by another period of high fees.
its not miner spam.
its mixers spam
Only a few years ago we had a growing number of shops here in berlin that you were able to buy food and/or drinks from for bitcoin. Right now there are no more of these stores left. And most of the sellers I used to buy things from on the big marketplaces now refuse to trade bitcoin too and changed to etherium. I know for those people that think that bitcoin is the new gold it is not that bad but bitcoin was "released" to be something completely different. Right now bitcoin is no real crypto currency at all. Buy a coffee for 2,5 bucks and pay 25 bucks fee.... sure.......... In my opinion bitcoin completely failed because of these fees and I sold every last satoshi and invested in other crypto currencies. Is there a single reason to stick to bitcoin? If yes, please feel free to tell me!
Yes, really worth taking a look for. Every transactions requires over the usual fees which really can be considered a bad thing especially for us small traders/ transactors. With this current issue, bitcoin will find it really hard to move on and I am sure that this will continue for months or even years to solve.
Sadly that is exactly the way I'm thinking about the lightning network. For me it's not a solution it's the final nail in the coffin. 
Why not wait until it's fully up and running before making a judgement? It could be everything everyone ever hoped for an more. It could be a load of shit. There's no point in declaring anything, like many a pinhead here does on a daily basis, until it's fully operational and fleshed out.
Does anyone know when this lightning network will be implemented? Or an approximation at least?
I don't think that you need to talk in the past tense.
I'm sure there are people working on this as we speak.
I know it's annoying, but it won't be like this forever and bitcoin won't die.
I'm sure there are people working on this as we speak.
I know it's annoying, but it won't be like this forever and bitcoin won't die.
Sadly that is exactly the way I'm thinking about the lightning network. For me it's not a solution it's the final nail in the coffin.
Why not wait until it's fully up and running before making a judgement? It could be everything everyone ever hoped for an more. It could be a load of shit. There's no point in declaring anything, like many a pinhead here does on a daily basis, until it's fully operational and fleshed out.
Transaction fee is a battle on his own which bitcoinhave to fight otherwise it spells a doom for BtC
Definetely an issue worth solving.
For now, im holding and trading only the extreme price changes.
For now, im holding and trading only the extreme price changes.
They need to fix this asap before all this shit gets out of control.
It has been more than 10 days since i do not use bitcoin because i do not want to spend more than $15 just for the fees, but yes, it is innevitable after all.
Anyway, they are not soooo expensive.
Same as you. I am keeping hold of what I mine to to minimise transaction fees. Driving me nuts as I want to buy other alt coins. Whole point of why I mine in the 1st place.
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