As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
That is the way most of us thought things should be but an higher price also means an higher demand and since the space in each block is limited then that means that the price of the fees will go up as well, something has been done with the activation of segwit but it is still not enough. 
Topic: Reduced transaction fees - page 3. (Read 962 times)
I hope that the lightning network can be realized earlier. Now such a transaction cost is very high, compared to the development of special currency is very bad. Many practical applications are not easy to cooperate with bitcoin.
As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
How are you computing your transaction fees? Is it satoshi per byte or are you converting the transaction fee to your fiat currency. If you are doing the second then you are doing it wrong. You will see really notice that a $3 transaction before is now almost $10 that is because the price of bitcoin is going high. What you should always remember taht bitcoin is the currency and don't convert the fees into your fiat.
Bitcoin Fee always rises even 10-fold, due to the Bitcoin price and slow Block transaction so it takes a long transaction time for each Bitcoin shipment. So the cost of fuel that we spend more because of the long journey that we travel. 
As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
There is some new technology floating around called Lightning Network. It's off chain so it frees up the bandwidth of the actual blockchain. I see real potential in this. As more users flood the block chain and use Bitcoin, the mining times will be slower and fees higher. LN is a good solution to this problem that continues to decline. I'm keeping up to date on their development.
Based on what I read, if the Lightning Network is in position, the transaction fees in the bitcoin side chains will be greatly reduced. Not sure how long it takes to implement the LN.. Hopefully not too late as Bitcoin user base is growing fast these days
In theory, at least. It's also worth noting that the Lightning Network can't really work at its best without segwit. Segwit adoption is still fairly low, so we'll have to wait a while for that. Only then will we be able to consider implementing it fully, probably.
Some altcoins already implement the Lightning Network with good success, but it's still relatively new. Altcoins are testing it for Bitcoin, in a sense, so when it does get implemented in the Bitcoin network, I'm sure it will be close to flawless.
As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
The transaction capacity is currently scarce because that's the limit written on the code and that has been kept there intentionally by the developers.Remember that bitcoin is a fixed-size blockchain and each block can contain a certain amount of transaction, when there'r high amount of transactions happenin
at the same time you always have to expect bitcoin fees to became higher.
As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
I think the best solution for this is that we should have more miners to cover up the unconfirmed transactions. So that though we minimized the fees up to 50sat/transaction it can still be confirmed for a little amount of time. As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
Actually, that is my concern also. I think that it is not fair to charge high transaction fees to those small transactions. What if I only need to send $5 to someone? The transaction fees is almost the same as the amount to be send. I would like to suggest that instead of a fixed transaction fees, why not get a small percentage based on the amount to be send. That would be fair to everyone.
Based on what I read, if the Lightning Network is in position, the transaction fees in the bitcoin side chains will be greatly reduced. Not sure how long it takes to implement the LN.. Hopefully not too late as Bitcoin user base is growing fast these days
Is there any place where I can follow Lightning Network development?
As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
The solution proposed to these is the Lightning Network, though a lot of people are waiting for it to be implemented, we still don't know when will it be implemented.
And I think even if the price pump 4 fold or ten fold more, without the implementation of LN, there will be no time that the fee will reduce.
Based on what I read, if the Lightning Network is in position, the transaction fees in the bitcoin side chains will be greatly reduced. Not sure how long it takes to implement the LN.. Hopefully not too late as Bitcoin user base is growing fast these days
It is very hard to reduce transaction fees with all the transactions going on and the back log. THe mining difficulty is using a load of electricity which is not cheap .My golden rule use any other coin for transferring money unless it is necessary to transfer bitcoin
As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.
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