What happen to bitcoin fees continues increased.? - page 3.

cjmoles

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Quote from: savioroshan on August 22, 2017, 06:50:42 PM

op your question is good. If bitcoin' s fee increase people won't use bitcoin for small transactions. For small transactions they will prefer fiat currencies only.just think, for a 10 dollar product who will spend 12 dollars? If the fee keeps on increasing like this people won't use it for buying stuff, they will hold it as investment only.

It's getting ridiculous....if the problems persist, the markets which accept bitcoin payments will switch over to a more economically sound platform. I mean, who's buying coffee with bitcoin anymore? The other day I was going to make a five dollar purchase but changed my mind when I realized the minimum transaction fee was 6 dollars!

savioroshan

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op your question is good. If bitcoin' s fee increase people won't use bitcoin for small transactions. For small transactions they will prefer fiat currencies only.just think, for a 10 dollar product who will spend 12 dollars? If the fee keeps on increasing like this people won't use it for buying stuff, they will hold it as investment only.

squatter

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STOP SNITCHIN'

Quote from: anon4250158 on August 22, 2017, 04:59:28 PM

Significant numbers of miners are seriously moving their hashing power to BCC? Is the difficulty so low that it covers the $3400 difference in price?

I don't know the details about difficulty, but it is has dropped a lot for BCH vs. BTC. There are sites that track the difference in profitability, and Antpool is now implementing an automatic pool switcher depending on profitability. This is the biggest drop in the BTC hash rate I've seen in a very long time. It's bigger than any drop I can see in the 9-month chart. No matter how profitable it is to mine BCH, Bitmain is likely behind the majority of this drop.

spadormie

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Well I think the fee for the transaction is good for me and I think that it is affordable for us especially at delivering with high price. For example I'm to transfer .1 btc and the fee for that let say .001 btc. I think that it is affordable for me. Can I ask what is the fee before? I just known bitcoin for about months.

anon4250158

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Significant numbers of miners are seriously moving their hashing power to BCC? Is the difficulty so low that it covers the $3400 difference in price?

1Referee

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Quote from: darkangel11 on August 22, 2017, 03:53:41 PM

BCC is unpopular at the moment, so it's cheap and fast, but so are other altcoins. Some of them have instant transactions and still nobody is switching from BTC for that reason.

People have been threatening to leave Bitcoin a few months back due to the high fees and slow confirmation times, but yet they are still making use of Bitcoin. It's all empty talk from these people. Bitcoin is by far the best and safest network to conduct payments, and there is no altcoin that changes anything in that regard. People, and then mainly the blind chickens, don't realize that if whatever altcoin gets to experience the same level of growth as Bitcoin, it will go through the same difficulties. Take Ethereum as an example - this coin was stated to be a cheap and fast alternative, but turns out, the fees went up significantly due to the increased usage, and the network experienced difficulties. Roll Eyes

squatter

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STOP SNITCHIN'

Quote from: Bitcoinsummoner on August 22, 2017, 01:13:28 PM

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

Bitmain is going full speed ahead promoting Bitcoin Cash. First, the pump. Then the "automatic BTC-BCC pool switcher" from Antpool. Hash rate is falling for BTC -- 1 block is being generated every 10.7 minutes. And now they are back to spamming the network: https://blockchain.info/unconfirmed-transactions Blockchain.info is showing nearly 100k unconfirmed transactions (almost 100 BTC in fees).

Tanaka Osato

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Quote from: HTracer on August 22, 2017, 03:11:47 PM

Has "Make bitcoin dead again" FUD campaign begun? Gonna wait couple of day when it gets at full swing and buy.

Agreed, these are good times for buying opportunities.

darkangel11

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Don't let others control your BTC -> self custody

Nobody is going to switch to BCC because its fees are lower. Once transactions would start piling up on that blockchain the fees would go up as well. In this world you get nothing for free. BCC is unpopular at the moment, so it's cheap and fast, but so are other altcoins. Some of them have instant transactions and still nobody is switching from BTC for that reason.

HTracer

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Has "Make bitcoin dead again" FUD campaign begun? Gonna wait couple of day when it gets at full swing and buy.

pitiflin

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Quote from: Bitcoinsummoner on August 22, 2017, 01:13:28 PM

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

Bitcoin cash,seriously? There is this saying ,"If you are good at something,never do it for free!" I am not saying that the fees should definitely be the same or increase,you have to expect the fee to go up when the price goes up.So the fees will be increasing and you should not stop using bitcoin just because of its fees.Are you ready to give up on bitcoin just because you will have to pay a couple of bucks more for every transacion? No one is stopping you,go ahead.

Catmony

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This one is just another temporary congestion of mempool because of sudden shift of bitcoin miners to bitcoin cash which will change when mining difficulty will be readjusted in both chains. Miners will be back to btc mining and even if they will not blocks will be mined in every 10 minutes like before, this will also lower down the fee.

kokojie

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Quote from: Bitcoinsummoner on August 22, 2017, 01:13:28 PM

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

CORE want you to do off-chain transactions and is about to introduce Lightning Network, and to push users into this new paradigm, on-chain transaction have to become very expensive, so you probably haven't seen anything significant yet.

This is why CORE has refused basically every single attempt to increase block size that now has proven to provide simple and easy scaling for Bitcoin on chain transactions.

TheQuin

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Freebitco.in Support https://bit.ly/2I9BVS2

It's because BCC became more profitable to mine, 40% of the miners switched over and BTC has been processing blocks much more slowly. In about an hour or 2, the BCC difficulty will retarget making BTC more profitable so they'll mostly switch back and fees will go down again.

channingwilmer

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the fee is still comfortable to me. The price has doubled so you can not expect that the fee will be lower then. BItcoin cash has the lower fee but 8mb block is insane. This blockchain can easily be attacked and make the whole system collapse

Bitcoinsummoner

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Maintain Social Distance, Stay safe.

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

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