Topic: Say it again? Bitcoin transaction fees expensive? - page 7. (Read 1288 times)
To be fair, Roger Ver and other big blockers are complaining about the "high transaction fees" in the form of coffee-value transactions though, for the typical person trying to go on his day; not multi-million dollar transactions. Still great to be able to transfer huge amounts of money with just a fee of a few dollars though.
it's looks cheap in the sense because the transaction is worth 500btc but if the transaction is small the 5$ fee will be expensive. also most users only send small amount of btc/mbtc and so the 5$ fee is expensive for them since the transaction is small.
This is really impressive data, transaction of such a large amount of money cost only $5 
But you need to consider the fact that the vast majority of transactions within the bitcoin network is belongs to a group of micro transactions, which is usually a few dollars worth of bitcoin. Such transactions are actually very expensive, if only we take for example that someone sends $5 and it need to pay for that $5 fee.
In addition to using the Light Network which is still fairly demanding for the average user, only way to reduce fees for micro transactions is using of SegWit and to make transactions light as much as possible by controling inputs.
But you need to consider the fact that the vast majority of transactions within the bitcoin network is belongs to a group of micro transactions, which is usually a few dollars worth of bitcoin. Such transactions are actually very expensive, if only we take for example that someone sends $5 and it need to pay for that $5 fee.
In addition to using the Light Network which is still fairly demanding for the average user, only way to reduce fees for micro transactions is using of SegWit and to make transactions light as much as possible by controling inputs.
Another proof that bitcoin transactions is still very cheap, the transaction below moves $500,000 million with less than $5 fees. This is a Binance external transaction. So for those proponents who says that bitcoin fees is expensive and slow, take a look, as everything is transparent on the blockchain network.
https://twitter.com/whale_alert/status/1134411929072676864
https://twitter.com/whale_alert/status/1134411929072676864
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