Topic: High transaction fees (Read 655 times)

Yes.. that happened after many months. And also, this one off incident doesn't mean that transactions with a fee of 1 Sat/Byte will get confirmed with surety. Right now fee for high priority transaction is being measured at 2 Sat/Byte and the Mempool is largely empty (less than 80 MB). But once the mining difficulty gets adjusted again, you will see an increase in the fee once more. Anyway, right now I am sending some of the low-priority transactions. Two transactions got confirmed in 5 minutes, after paying a fee of 2.7 Sat/Byte.

Please go fishing with your BSV trolling to altcoin topics.
I can't help but enjoying your perfect timing: you talk about high fees when 2 sat/vByte transactions are mined.
It shows your degree of understanding on what you're talking about.

+

So many things are gettin sold under the name of Bitcoin

but just is not Bitcoin

'high fees' for electronic cash to use is just one of it

It does make sense to me and I get why that kink for dogecoin, from your side, but there's something that is missing from every other altcoin:  None of them has the first mover advantage.

Besides that, I notice a huge marketing manipulation from dogecoin.

44.51% of dogecoins are owned by 10 whales and 20.60% of dogecoins are owned by large investors, which means that 65% of the dogecoins are owned by these entities. I wouldn't call Dogecoin "for the rest of us", it looks rather an investment to me. In fees, it may be better than Bitcoin technically, but is it seemingly better? Nah. There may be better cryptocurrencies in the future, but none of the creators will convince you to switch from the first mover. It's just phenomenally impossible.

You seem more reasonable than the majority.  

Here is why I think the way I do about the non-mining nodes not helping decentralization.

https://bitcoin.stackexchange.com/questions/50922/whats-a-sybil-attack

Non-mining nodes can't generate new blocks. They only relay blocks generated by mining nodes.

What make BTC resistant to Sybil is that by segregating the evildoer's mining hashrate from the rest of the network, block propagating would stall without the rest of the network mining nodes hashrate.

All of the protection/security of Bitcoin network is from the Mining Pools and their mining nodes that generate blocks.

All a non-mining nodes does is provide the user with a local receipt copy of all transactions,
Here is an example to clear it up for you,
if I run 500 non-mining nodes from a different IP address is that more decentralized
than running 1 non-mining node. Trick question , because 1 or 500 neither generates blocks, so neither help decentralization.

If I run 10 mining nodes instead of 1 mining node, then the 10 mining nodes do increase decentralization.

If that makes sense to you , great,

if not, Have a Great Day anyway.  

Right now 1 Sat/Byte txs are confirming.

But why it never happens? That even the transaction cost is high but people have no other options to take, they'll have to pay for for it or just leave their coins. But we have to be in mind that this will not be forever (as I believe), sooner or later, the fees will drop down together with the price. It was just now that the price is too high and in correlates to the situation we have. If I have just to transfer a coins worth $50 while I have to pay for $10, I never do that unless if I'm badly need of money.

Average transactions have a size of 100-150 Bytes, so a fee of 11 Sat/Byte translates to around 1200-1600 Satoshis in fee. That comes to around BTC0.000012 - BTC0.000016, and as per the current exchange rates, this amounts to $0.67-$0.90. But the size of your transaction decides everything. If your wallet contains a large number of small-sized transactions, then the size will be larger and therefore the total fee will be higher. And a fee of 2 Sat/Byte would be too low, IMO. It may never get confirmed.

This is the biggest problem faced by a cryptocurrency, if it has a high cost then it will be immediately abandoned by the community. As well as eth, which at that time had very high transactions, they began to switch to bnb smart chain. I hope the project in the future has speed and generosity in transaction fees. it's a lot of fun for bitcoin which is too expensive nowadays.

That is the decentralized nature of bitcoin, therefore we cannot determine the transaction fees we have to adjust them like most people. Sometimes high costs are influenced by the high price of bitcoin as it is today. The solution is, using coins at a low cost, this is why not only is there one cryptocurrency in the world, but we have more than hundreds by having their own superiority.

High transaction fees made my life very tough. I have earned many coins through airdrop or bounties in my wallet which transaction fees are more then their value. Eth transaction fees are out of this world. There is coin called tron what ever the market value would be but the transaction fees is only 1 trx. On  Other side  eth goes in price their fees are ahead of eth value.

and i am one of those people, i don't remember the last time i used bitcoin to buy something or to sell, i always look for other option with lower fees, but Ethereum seems to be doing just fine these days though, but nothing you can do with bitcoin if you have small amounts transactions to make.

High gas fees has made loads of people to avoid the blockchains that are actually related with those gas fees. For example, ethereum has recorded the highest gas fees over the period of time when it came to play. The bitcoin network has also recorded high gas fees but not as much as it has been recorded with the ethereum network. Although it has been slashed by 50% but its quite difficult to see people pay outrageous amounts for gas.

High transaction fees has always been the challenge associated with loads of blockchain starting from the Bitoin which is the flagship of cryptocurrencies and all other blockchains as well. Ethereum so far, has the most charged fees in the history of blockchain as loads of transactions gets to be verified within the same time and therefore attracts high ges fees.

Almost every weekend the transaction fee can drop lower than normal days. I just thought that someone might mind paying high transaction fee if the estimated bitcoin value they had was not that much and a good solution for them would be to wait over the weekend. So far, I am quite used to doing it there. Small transaction may not occur much as long as transaction fee increase, and that's normal. But in my opinion it will not be a problem for those who need fast transaction with a sizable amount of bitcoin.

No you don't. You may be that "nerd" in order to understand their technical background, and LN's is obviously harder to understand, but both of them can be easily used by the averaged person. (After you show him/her how it works)

I agree that being difficult to understand is a disadvantage, since you have to understand everything you're doing on this sector, but sometimes, good stuff require complexity to work. I hope that we both agree that if you transact off-chain it is more practical.

Also, I want to point you that the majority of its users are already unaware of its technical background. They just use it, because they feel it's simple. You shouldn't be forgetting that Bitcoin was invented by those "nerds". It then delved into the market, as always...

Please excuse me! I am reading about LN these days, but it seems I didn't know that. Merited by BlackHatCoiner (1)

Anyway, I don't have much to say here. For the revocation keys and the commitment transactions, I can gently respond that LN is under development. I guess that there will be a solution for those two on improvement proposals. As for losing funds by going offline, I'll have to take it a better look, because I haven't fully got how can that happen.

What exactly will you accomplish if you move your funds to an exchange? Paying even higher fees?

So, all bets are off. 

Not sure if you can sue them, but anyway.

You're lucky that I'm ran out of demerits. Ever heard of Sybil Attack? You are contributing to the harmony of the network if you run a full node. AFAIK, you aren't connecting on the same nodes each time you establish a connection, but a Bitcoin Core expert can correct me. There's that thing called peer discovery that stimulates decentralization.

The fewer the nodes the worse the decentralization.

Just for your information, I ain't a Bitcoin fanboy, but neither a hater. I like seeing things objectively. I don't believe that Bitcoin can be used on a global scale, or in other words:  I don't believe the so called "global adoption", because realistically it can't work.

A few months ago, the price of Bitcoin was just below 10,000. Although the transaction fee was very low at that time, its value is much higher at this time. The transaction fee has now increased 6 times. The volume of transactions has increased a lot with the increase in the price of Bitcoin. Anyone who needs it will no longer move to pay the fee. Rather it will hold more.

Thanks for the Demerits, I shall Cherish them.  


Bitcoin is easy to use , for even the moderate PC person.
LN is the stuff , where you have to be a super nerd to even mess with.
This is not the majority of people.



https://bitcoin.stackexchange.com/questions/91211/how-can-someone-lose-funds-in-lightning-network
You lose your partner's revocation keys:
You lose the commitment transactions:
Losing funds from going offline

Random Bugs, not sure if the one below has been fixed yet.
https://bitcoinerx.com/bitcoin/90-of-bitcoins-on-the-lightning-network-could-be-lost-to-attackers-following-current-lightening-implementation-research-says/

Nothing a Super Nerd would worry over, but more than the rest of us will waste time with,  


So, I only leave the amount on the exchange, that I plan on spending.
No one should ever keep all of their eggs in 1 basket.
However if the exchange was reputable , and they lose my coins, I can sue them for damages.
So I can get something back.

If I lose my Funds in LN for any of the reasons mentioned earlier,
who do I sue, No one, it is just gone as a sacrifice to the crypto deity.



I get most bitcoiners believe that,
but to me it is a line of BS.

Artificially limiting BTC onchain network , so that I can claim 12 year old kids are running full nodes and keeping the network less centralized is just plain wrong.
No matter 1 or 1 billion non-mining full nodes, it has zero effect on decentralization, because all they do is relay, they don't validate ,
so this virtue is pure imagination on the part of bitcoiners, kind of you have to believe it to join the bitcoiner cult.
This one confusion of the english language causes so many bitcoiners to repeat the decentralization myth.
Validation only occurs , when a transaction is added to a new block , only mining nodes can add new blocks , so only they validate.
Non-mining nodes, can't add new blocks all they can do is relay blocks, which is why 1 non-mining node is as good as a billion, since all they do is relay blocks.
If this makes no sense to you, no worries just means you are a loyal bitcoiner that does not question blockstream.  




I get you think LN is the solution.
Personally , I don't.

The only way it becomes a solution , is if you pay a bank to credit you with capital on their LN channels, and when finished they let you cash out in fiat. Notice at no point , do you actually buy or sell bitcoin in the above scenario. That is the only way you avoid the overly high transaction fees to open and close LN channels. But theses are just my opinions. In time, all will be apparent.  


FYI:
https://coingeek.com/lightning-strikes-out/

Demerited by BlackHatCoiner (2)

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There are just so many things I disagree with this message, that I'll have to demerit it. 

Let's take them from the ground up.

Your opinion? That's clearly something personal. It surely is complicated for someone who doesn't know how to use Bitcoin, but someone who does? I'd rather say that he/she just lacks interest in it to say that.

Once you open a channel you're locking your funds on a multi-sig address that requires both signatures to spend from. Every time you transact off-chain, you sign your final balance and you're free to broadcast it whether your node wants it or not. So, how can you lose money if you "don't follow the overly complicated rules"?

But you don't have bitcoins. Your exchange keeps the keys, so they own them.

You do get that the block confirmation time of dogecoin has its downsides, don't you? If the block generation happens that fast, it makes decentralization harder to achieve.

Lightning Network is a solution. It is very practical to transact off-chain for small micro-payments instead of broadcasting them all one-by-one in the block chain. Can you please understand that once you broadcast a transaction it gets saved on hundreds of thousands of computers world wide? You can't really believe that broadcasting a transaction every time you want a coffee is a solution, because this isn't VISA. This is the Bitcoin network and decentralization costs. The Lightning Network is the closest thing we have to accomplish the scaling issue.

---

As for your dogecoin:  Pump it!

Yes,Right,Nowadays it's really getting hard to do small transactions.

Gotcha , you think blockstream can do no wrong.
Most Bitcoiners think that way.

As far as LN goes, keep your eyes on it,
in time it will be apparent to all , that only Banks are suitable to use LN, and since they will be running the LN hubs,
they will earn those fees, that you think they can't afford.

Have  a Nice Day. 

Higher Bitcoin price brings us higher transaction fees. No one likes that but U guess at the current Bitcoin transaction concept this is something that can't be avoided and some price has to paid.
However, I don't think that high fees are showstopper for Bitcoin and that it will not affect the overall volume of transactions.

Don't get too comfortable with any coin forked from bitcoin, and bitcoin isn't overrated, maybe you just don't understand or have a clue of why you should buy some, at this time there's no point arguing, you can just go to CoinMarketCap and choose between the 6,000+ altcoins we have in the market and buy one instead of fudding about bitcoin here.
also I don't see how bitcoins transaction cost will limit its growth in the future, a few months ago Ethereum was charging higher and no one said anything.

With high fees or funny LN you have no P2P transaction system any more

Introduces counterparties to pay, interface whatever nonsense

When you say 11 Sat/Byte in fee, how much satoshi is that and how much USD is that approximately?


So you could send a transaction right now with 2 sat/byte and it would work but take very long?

Yes, it is a higher transaction fee for smaller amounts.  BTC prices are high now,  The higher  price is a reson of higher transaction fee. However, I think the price and demand of BTC will not decrease due to its high transaction fees.  When we want to buy something with cryptocurrency, most of the time we have to pay with BTC. BTC is always in demand

Yeah.. a few hours back, some of my transactions got confirmed immediately, after paying as little as 11 Sat/Byte in fee. The Mempool is still quite bit, with 100 MB of transactions pending to be confirmed. But this is a big improvement when compared to the situation we had two weeks ago, when the size had swelled to around 250 MB. I hope everyone makes use of this opportunity to combine their smaller outputs, so that the fee can be reduced in the future.

4 sats per byte fees are now confirming. The mempool is much clearer than it’s been for some time, might be a good idea to consolidate smaller amounts now if you want to.

High transaction fees is something else, mostly on ethereum blockchain, the charge fees is too much, secondly, which Binance Smart chain has made it easy for Binance network.

At this point I understand that the trafficking in cryptocurrencies is getting much,so before this will come down according to op it will take some period of time, and I was told that while the fees is getting higher is because  of lack of developers but is not quite understanding that a developers determine the charges of any cryptocurrencies.

You've got a point. Buying and sending small amounts of BTC is not profitable. But for this cases you should use altcoins. BTC is for HODLing.

Even though you are starting to become offending, I will clear up things for you about Lightning:


If you are an enduser, you might want to open a channel for more than just 50$ and the fee to open that channel depends on what the actual fee for a btc tx is. So right now you pay about 1000 Satoshis btc tx fee to open a channel, which will save you alot of fees in the future.
You don't need to open a channel to every coffee shop you are going to, but you would have a channel open to a well connected node and all of your payments will be forwarded by that node to your favorite coffee shop (if he is also well connected to other lightning nodes which I assume)

Nobody incl Bitcoin cares about what this company and its individuals are doing (or not)


You don't understand Lightning. A transaction this big would cost a fortune on Lightning, because the fees on Lightning depend on the number of Satoshis you are sending, while Bitcoin transactions depend on their size in bytes. As I said, Lightning is a solution for the enduser and not for banks.

Hmm,
I know you are only 12,  it is stupid to pay $18 to lock up $50, which is why the LN coffee shop myth is blown.
Which was the point , junior.

Banks are the only ones, that LN or Liquid could ever be feasible to use , as they are the only one that make enough transactions between other banks that it could be viable at even $1000 onchain fees. They do still teach math to 12 year olds, or do you skip school alot?

Maybe you should ask Maxwell to explain it to you.
Blockstream is partnering with Banks to use Liquid.
https://www.coindesk.com/unpacking-the-avit-avanti-banks-new-digital-asset-being-built-with-blockstream

https://www.coindesk.com/in-first-pure-crypto-hire-silvergate-bank-recruits-blockstream-liquid-network-exec

FYI:
By Blockstream artificially limiting bitcoin onchain transaction capacity which keeps the fees high.
This gives them the potential to create profit for their company by creating offchain networks for banks.
Oh, you thought they made LN for the little guy, and you were wrong.  
No worries the banks will still drive the price of BTC higher, but don't expect to be sending alot of bitcoins onchain unless you are rich or a bank.

Who said banks would practically pay $1,000 for a “locking fee”? That’s based on assumptions, and your own biased assumptions at that. Bitcoin Exchanges, which should be, in my opinion, the biggest liquidity providers for Lightning has not adopted it yet.


Are you listening, or getting the context of AGD’s post? Who would be so stupid to pay $18 to open an channel for $50?

For the majority $1000 locking fee is a deal breaker,
but a bank can pay that $1000 locking fee and perform 1 million transactions with another bank in a month.
Which puts the banks cost per transaction at only $ 0.001 per transaction.
So for a Bank using LN, Bitcoin is still usable because of the # of transactions they can generate between other banks.
For the normal person, they make less than 50 transactions per month, and those are not between the same person or service.
Which is why LN or Liquid works best for Banks.

Now say you lock $50 away in LN for your Coffee shop, and you paid the current $18 transaction fee.
As you can see LN, already makes no sense for the normal person, due to overly high transaction fee.
You need to be sending like $10K worth of btc for a $20 transaction fee not to bother you, so the rich will use btc, but the rest,
hell, I just write a check and mail it off , or even pay with visa extra $5 fee and come off cheaper than LN with Bitcoin.
So LN won't be the solution for the little guy , LN & Liquid are the solution for the banks, which they probably let people open direct offchain accounts with then and use their LN Bitcoins, but that won't be any better for us than fiat was.

The solution for the little guys that wants to use crypto, is altcoin with ample onchain transaction capacity such as Doge, LTC, BCH, or any other altcoin that their developers have not artificially limited their blocksize and speed.

I agree with you, that a tx fee of 1000$ would make Bitcoin unusable. Not just for the lightning network, but for everybody. Now tell me, why should somebody (incl a bank) pay 1000$ tx fee? Just a rethorical question, of course nobody is going to pay a fee that high. Exactly because of this, your scenario is not going to happen, of course unless inflation ate the $ value and you pay 1000$ for a loaf of bread.

Bitcoin fees depend on people paying that fee, so we have a free market here, esp. when the 2nd layer (Lightning) fees are competing with the mainchain. Right now you can send Bitcoins for 4Sat/vb which is like half a dollar for an average tx and on Lightning this would be way cheaper.

Lightning is a solution for small payments, like buying a coffee and the mainnet has its advantages with big payments.

This has been a problem seen by a few people in the early conception of bitcoin. Perhaps Satoshi believed that bitcoin wouldn't be used as a store of value and instead as a full-pledged currency instead which of course will not cause problems with transaction fees. Then again if that's the case he allowed a very big flaw in his otherwise perfect invention. Hopefully some day someone does something about this, since if transaction fees reach 1k, lightning network wouldn't be able to help us anymore.

If the Bitcoin deposit/locking fee reaches $1000, then lighting would not be a usable alternative.
It still forces people into lower fee altcoins with ample onchain capacity.

Also if you look at Offchain Solutions such as lighting ,
to truly take advantage you need 100s to 1000s of transactions,
which the only ones that would have that many transactions monthly are corps and banks, not a normal person.

Which would be Lightning.

I can't agree with this. So currently the Bitcoin exchange rate is $50,000 per coin and the average transaction fee is around $20. You are saying that if the Bitcoin exchange rate climbs to $250,000, then we can expect a fee of $100 per transaction. And if by some miracle the price hits $1 million per coin, then the fee will be $400 per transaction. Are you really fine with this? Because I'm not. If the fee climbs to such levels, then I am afraid that I need to look towards other alternatives.

whatever your problem, I think the increase in bitcoin is reasonable because as we know now the price of bitcoin has increased, so it is balanced for the current bitcoin gas fee which has increased.

Why did Bitcoiners ignore the lack of BITCOIN ONCHAIN CAPACITY for the last 5 YEARS?

Just Sayin.  

FYI:
Bitcoin Price will still hit infinity verses fiat, but it's direct use for a digital currency is DOA,
thanks to blockstream artificially limiting the onchain transaction capacity.
Alt-coins like Doge never bothered to cripple their onchain capacity which is why they are the usable digital currencies.  
IMO, Doge is here to Stay, it will probably outlast the US Dollar.

FYI2:
I send the same amount in fiat value in doge for fiat transfer fee value of 40 cents, and the same value transfer in bitcoin transfer fees cost me $23.
Simple math. * Note the Doge transfer was 20 minutes faster to confirmation also.*

then why do you guys only show up here to advertise doge only while it is pumping and you can make some profit (the profit in bitcoins you invested in doge) then disappear the moment that doge starts dumping and we don't hear anything about it for months

1.  LN is overly Complicated.
2.  Losing your Bitcoins when LN is a real possibility if you don't follow the overly complicated rules of LN.
3.  Using an EXchange offchain transactions is cheaper and easier than LN.
4.  Altcoins like Doge do what Bitcoin used to do, except faster and cheaper.

LN is no real solution, the altcoins such as Doge, have more onchain transaction capacity ,
so in the end they are better for actually using as digital money.

Bitcoin is pure investment, that if you are smart , you never ever bother sending onchain.
Bitcoin is for the rich, Doge is for the rest of us.  

Transaction fee I think can be reduced anytime you don't like the fees that you are sending with. You need to select it out or adjust to your capacity to pay for. I believe not many people know such service especially newbie. Sometimes the transaction at low active season is another way to get around high transaction fees.

Same holds for the so sold world computer ETH - there is only on industrial way to get Bitcoin AND smart contracts to scale

some see it

few speak about, cause bashing of trolls is result https://www.youtube.com/watch?v=3MJSEGnpgB8

and it works what was not understood 2014 / 15

https://bitcointalksearch.org/topic/turing-complete-language-vs-non-turing-complete-ethereum-vs-bitcoin-431513

For me, it’s lacking in business development, and a good UX/UI that newbies can use. But I believe it’s currently the wrong time for front-end developers to start building apps on Lightning. Lightning needs more support from Bitcoin exchanges/services.

I am sure that over time, the fees should become lower in order to attract more crypto investors. But how to achieve this, I do not yet know.

If you do not like Bitcoin, please go, I am very sure without you bitcoin will be fine, and much better, because I believe internet bitcoin, and crypto will always be there and will not go away, if bitcoin goes I am sure the others will follow
bitcoin, although there are many who hate it, botcoin is always at heart ..

Your deduction about all this is quite too sudden for you to make conclusions based on what you are recently seeing or associated with. I am only saying this because from your post I deduced that you are a newbie on this forum not just sure if this is also pertaining to bitcoin as a whole. Bitcoin is not overrated and it is not flawed

I don't get why people are still sleeping on LN, it is a promising one for bitcoin. It might be the soltuion that we had been looking for a long time and we just didn't bother checking it out.

OP’s argument will be, it’s too complicated to use, it’s a banker’s network, it’s not centralized now but it will be, and it’s “not Bitcoin”. Only bigger blocks/low fees are the solutions for “Peer to Peer Digital Cash”, the users don’t need to run nodes, only miners.

Four years later of Bitcoin Cash, then why are there more transactions in Bitcoin? Did the community actually want it, or just a minority?

Other cryptocurrencies can be used to transfer the value, no doubt in that! But bitcoin itself is value. Tell me how many of the F500 companies would like to maintain a portion of their reserves in any coin other than bitcoin? None I guess. But they are happily adding bitcoin in their Balance Sheets.

Other blockchains may be getting their own space by providing smart contracts, cheap fees, faster transactions and all those fancy stuffs but no matter how good they do, they will just be a medium to transact value, they can never become the value like bitcoin. And if bitcoin suddenly goes away, believe me the crypto market will die. If the strongest network can be taken down, why not the others?

Hey guys. Bitcoin Lightning (NO shitcoin!) is what you need. Electrum wallet supports it btw
If you want to run your own node to make money with routing fees your can build it on a RasPi or you buy a complete RasPiBlitz, that is almost ready to start a node on arrival.

https://shop.fulmo.org/

Ooh, a Brand New sockpuppet just for me!  I’m not impressed by these children’s games.


P.S., yes, I have read the Bitcoin whitepaper.  Also, I’m poor (an open secret scattered in my post history), and I am not priced out of Bitcoin; I use it just fine.  If its current performance is “a failure”, then I want for it to fail some more, please!

it gives me such a headache that bitcoin core refuses to raise the blocksize. Their main argument is to keep the cost of running a node cheap due to space but this makes transactions so expensive that people are priced out.

Bitcoin at this point is a failure. Yes the price increases but its unusable for most of the world. Its why many OG bitcoiners like roger ver support bch.

Maybe nullius should read the whitepaper and see what bitcoin was meant to be.

Bitcoin Forum > Bitcoin > Development & Technical Discussion (Moderators: gmaxwell, achow101) > High transaction fees
https://archive.is/zIioX#selection-267.3-489.175

This blatant Bcash shilling is off-topic in Development & Technical discussion.  I am reporting it to the moderator with the suggestion that it be moved to a more appropriate dumpster fire.  Please at least keep your stupid trolling on-topic in the future.  Thanks.

P.S.,


Please don’t buy Bitcoin.  Bitcoin does not need you and your drug purchases.  Go away.

Intelligent people know that Bitcoin’s base layer competes with wire transfers, not Visa, and use it accordingly.  They probably have more money than you do, so Bitcoin will get along just fine without you.

Let's understand the market psychology. If bitcoin vanish, no value at all. Value against the standard fiat unit goes zero then there will be panic everywhere. The myth will be everywhere that if Bitcoin disappears then another cryptocurrency form can disappear as well. Means everyone will move away from the entire industry. None will exist any more. Theoretically maybe one can prove it but practically vanishing all bitcoin node, vanishing all saved data of the node owners are not going to happen unless the whole world suddenly goes back to the past when there were no digital form of technology, no digital data storage device.

Bitcoin is going nowhere, Internet is not going anywhere, crypto industry, crypto technology is going to evolve further.

Consider bitcoin as gold and platinum bar in physical form. Other alts are those of cheap silver coins. You can use these silver coins (cheap alts) for regular shopping.

Small purchases were almost always a problem. It's just more intense now. If you want to make micro-payments without spending a fortune in fees, consider reading what is the Lightning Network. We'd discussed on another thread and as far as I understood, you didn't know what is LN. There is one problem with LN:  It hasn't been adopted by many stores yet!

Are you sure that you do? Because I don't think that the fees was the cause of Bitcoin Cash. Rather, I'd say that someone found the chance, because of a soft fork, to retain the previous chain by calling it "Real Bitcoin" and himself "Satoshi" just to make money out of it. Not sure why BSV exists, though.

Where does that "Not anymore" refer to? That you can't buy it with Bitcoin? Or that you can't buy cannabis seeds overseas? Because if it's the first one:  Altcoins!

None of them would have existed without bitcoin, but (don't crucify me for this) if bitcoin suddenly went away, other cryptocurrencies could fulfill the currency role that bitcoin had quite easily.  And while those forked coins aren't popular on this forum, it's hard to argue that right now it'd be much easier to buy something with pretty much any coin other than bitcoin. 

Careful with that--there are a lot of scammers trying to sell illicit stuff for bitcoin, and often you have no way of telling whether a site is legit or not.  I'd wait until it's legal in your area, too, but that's just me.

Don't get too excited with those forked coins or even with all other shitcoins. Imagine the cryptocurrency industry without bitcoin. None of them will exist if Bitcoin is not around.

The recent spike of fees are maybe annoying, but it's temporary.

It seems Ver hired you to shill for his shitcoin. You can still buy those cannabis using BCH or BSV or even with your fiat currency.

Small purchases are impractical. This is a problem.

For that reason alone Bitcoin is over rated. I'm not surprised it is crashing and dragging the alt coins down with it. Now I realize why Bitcoin hard forked into Bitcoin Cash. Bitcoin's transaction fees will limit it's growth in the future. I will not buy bitcoin unless transactions fees can be reduced. I don't have long term confidence in Bitcoin. It has a growth limit because transaction fees will increase with it's growth.

I have concluded Bitcoin is flawed unless you are rich and always make large purchases. I once considered buying bitcoin to purchase cannabis seeds overseas. Not anymore. It is not worth it because of the transaction fees. Add the volatility of the price to that. Why? Why would I bother? I think many others will conclude the same.