What will be the transaction fees for Bitcoin above 20k, 40k, 80k,100k?

Shreek

full member

Activity: 476

Merit: 112

IDENA.IO - Proof-Of-Person Blockchain

Quote from: GreatOrchid on January 10, 2018, 07:53:48 PM

Quote from: Crypto Piece on January 10, 2018, 07:46:45 PM

Also will the transaction fee put downward pressure on a the value of it to rise?

No, they will be getting back to normality once that the lightning network gets implemented, so do not worry about that, because they will be lowered.

You guys need to be a little bit more informated about what is happening on the crypto world, and specially about bitcoin, the only thing that can change the fees, are these; using segwit wallet's, or just adapting ourselves to lightning.

But the lightning network is not going to be released for the next few months or so.

yes, I agree with you. everyone is waiting for the lightning network, to get the transaction back to normal, and I think it's a tough day to make a deal.

RoccoSiffredi

member

Activity: 134

Merit: 10

Quote from: GreatOrchid on January 10, 2018, 07:53:48 PM

Quote from: Crypto Piece on January 10, 2018, 07:46:45 PM

Also will the transaction fee put downward pressure on a the value of it to rise?

No, they will be getting back to normality once that the lightning network gets implemented, so do not worry about that, because they will be lowered.

You guys need to be a little bit more informated about what is happening on the crypto world, and specially about bitcoin, the only thing that can change the fees, are these; using segwit wallet's, or just adapting ourselves to lightning.

But the lightning network is not going to be released for the next few months or so.

Are there any exact dates for the lightening network implementation? And HOW low will be the fees then? At the moment the fees make Bitcoin unusable.

Futurm

member

Activity: 179

Merit: 10

The deployment of the lightning network may solve the problem, and if the problem is not solved, the continued rise in the price of bitcoin will only increase the cost of the poundage.

jseverson

hero member

Activity: 1834

Merit: 759

I don't think the actual price will have any significant effect. All that really does is increase the value of satoshis, which, under normal network conditions, shouldn't be too hefty. Higher price may even drive the satoshi fees down, even.

The price increase may trigger an increased volume of transactions though, and depending on how far the scalability fixes have gone at that time, they could make the fees skyrocket, like what's happening now. Should we assume that Bitcoin can already scale to the demand at that point, I don't think there would be any problems at all with fees.

vv181

legendary

Activity: 1932

Merit: 1273

I believe in case that happens the transaction fees will put a pressure on the market price because I'm sure many investors will think about the network stability of Bitcoin before they put a large amount of money. Currently, we know Segwit wasn't adapted successfully, and the only hope, for now, is the lightning network.

denzkilim

full member

Activity: 1218

Merit: 105

Quote from: SamReomo on January 10, 2018, 07:59:41 PM

Quote from: Crypto Piece on January 10, 2018, 07:46:45 PM

Also will the transaction fee put downward pressure on a the value of it to rise?

I am very sure that the transaction fees would be lower than now in upcoming days of the Bitcoin. There are many new are constantly being added into the Bitcoin network to make it the "King of The Cryptoes". One of such features is LN(Lightning Network), and as soon as it becomes ready the transaction speeds will be higher and fees will be much lower than expected.

I'm hoping that the lightning network will be implemented as soon as possible to kill the annoying high fees of bitcoin. And if this will be implemented I think the price of bitcoin will go for another crazy rising year. Cool

NakaBTC

newbie

Activity: 5

Merit: 0

transaction fees doesn't depend on price of the coin, but on the load on the network, and the costs that mining involves. LN will lower the fees and they won't change much even if the price is 100k.

panghae

member

Activity: 148

Merit: 10

If thats happens tx fee would cost a lot and eventually people wont use BTC anymore in my opinion but if the Lightning network will be implemented tx confirmation will be faster and lesser fee.

player514

legendary

Activity: 1414

Merit: 1039

Quote from: Crypto Piece on January 10, 2018, 07:46:45 PM

Also will the transaction fee put downward pressure on a the value of it to rise?

I have a feeling that if the coin is increasing like crazy, some people will want to hold as well. Transaction fees probably won't go to crazy with this in mind as well as the potential lightning network implementation. If that all works out according to plan, BTC transactions will be simple and quick, and the price will likely go up due to the new technology. I don't think transaction fees will pose a major threat to bitcoin increases in the future if this much development is conducted to simplify and better the whole situation.

SamReomo

hero member

Activity: 784

Merit: 672

Top Crypto Casino

Quote from: Crypto Piece on January 10, 2018, 07:46:45 PM

Also will the transaction fee put downward pressure on a the value of it to rise?

I am very sure that the transaction fees would be lower than now in upcoming days of the Bitcoin. There are many new are constantly being added into the Bitcoin network to make it the "King of The Cryptoes". One of such features is LN(Lightning Network), and as soon as it becomes ready the transaction speeds will be higher and fees will be much lower than expected.

GreatOrchid

legendary

Activity: 1092

Merit: 1001

Quote from: Crypto Piece on January 10, 2018, 07:46:45 PM

Also will the transaction fee put downward pressure on a the value of it to rise?

No, they will be getting back to normality once that the lightning network gets implemented, so do not worry about that, because they will be lowered.

You guys need to be a little bit more informated about what is happening on the crypto world, and specially about bitcoin, the only thing that can change the fees, are these; using segwit wallet's, or just adapting ourselves to lightning.

But the lightning network is not going to be released for the next few months or so.

Crypto Piece

member

Activity: 166

Merit: 43

Also will the transaction fee put downward pressure on a the value of it to rise?

Topic: What will be the transaction fees for Bitcoin above 20k, 40k, 80k,100k? (Read 125 times)