Topic: Whats the future of bitcoin with these high fees? - page 3. (Read 493 times)

Nowadays People are really worried about the bitcoin fees as it is getting higher many times during the high demand period which is not a good thing for treaders and participants like us who are doing bitcoin activities and trading the bitcoin on a smaller scale basis. But yes I think these problems will soon get cleared staffs and any individuals are working on these and it will take some time to implement.

It is possible that the higher fees we're experiencing right now is because of the miners probably taking a vacation due to holiday season, another reason is that there could be some group of people trying to sabotage the network. Bitcoin is currently moving sideways because people tend to buy it now then convert it to altcoins. Once the implementation of lightning network takes place, it will be another wild ride to the moon.

that is the question in my mind.  Why are the transaction fee is so much expensive some of experts says it's because of lack of miners it's affected the blockchain and the transaction span

Perhaps the commission for transactions will become cheaper after the acceptance of Segwit2x. Perhaps the commission for transactions will become cheaper after even more people start investing in bitcoins. But do not focus only on bitcoins. There are so many other interesting and promising currencies. People just do not know about them.

i hope bitcoin is still going upp it can be use bitcoin without internet connection..is surely helping others to know about bitcoin especially poor people cannot afford to pay internet..

Recently there was hardfork and it will change something or even everything. Just wait a little. Happy holidays!

maybe they have made some solution within this but the fact about it there are less users so eventually if the users of bitcoin may increase they would rather to have less fee if that may happen but this was just an speculation.

Surely it is not very glorious if continued like this. I mean come one the fees are really off the charts and no one is there is who isn't complaining about it. People will have aggression against the bitcoin fee structure and it may not be good for the crypto currency as whole. People may think of switching the bitcoin to Ethereum or may be some other currency.

Stop giving advice. That is not why the fees are so high. Sellers aren’t so much the problem as the miners are. Miners are able to choose which transactions they confirm, which will naturally gravitate towards users setting higher fees, but the problem is rooted in the way that miners are rewarded in the first place, not how the sellers set the fees. They wouldn’t have to pay high fees if there was a hard cap on the cost of transactions.

If this problem isn’t corrected, there won’t be any demand for bitcoin in 2018 to become “the boom year”. Paying a $10 fee for a $6 cup of coffee isn’t what Satoshi Nakamoto has in mind, I’m sure.

People are creating this so called hard fork to solve the problem that is coming with Bitcoin most specially its high fees and transaction speed. Soon Bitcoin will lose its dominance to around 25% in the near future. Just like in any kingdom the King is getting old and soon a prince will emerge in the cryptocurrency kingdom.

Bitcoin core team working for this problem. She trying to add lightning network, bitcoin cash try replace original bitcoin with increasing size of block 2mb 4 8 and more, but its cant be contentious infinitly

It's a very interesting situation as fees have indeed increased and now we are seeing Bank like activity rather than community led. Thus i think we
all went to decentralisation rather than centralisation. So no one individual, or group, could manipulate things. Of course on the cost of purchasing they can't be selling on or even exchanging - well they're making a fortune. We moved away from banks because of such activities but we are lucky.

We know the market and it's becoming more competitive as we speak. Ethereum is now looking like a bargain as people turn away from the high fees
involved in Bitcoin (Maybe the BITOINGREED will come next) and turn away. This will have a significant sway and, hopefully, create reduced fees or die over time, as people look to the alternatives.

Here in the UK we took up this type of trading later than many other Countries, well some of us did. Solid platforms to buy from are also stipulating the market place CoinBase is great but way to limited and then you have China's Binance, which i can't stand. We need a solid platform that trades via all these new Cryptocurrencies and a wallet to boot. I like Exodus but that still has limits and at one point i had four different wallets and three platforms, a full time job.

Then we have IOTA a very interesting prospect but so is ripple, although owned by the very people we wish to remove - Bankers

Not a bright one. I think bitcoin will be replaced by other coins at some point that does not charge so high.

The future is hard forks with lower commissions and higher miner profit. For example, Segwit2X hard fork has all chances. Here's the link https://b2x-segwit.io/

That's really quite high for just 120$ transaction. If that continues, only those big transactions are not affected by high rates and in fact, the transaction speed is still the same. That's really unfair for those who only transact a penny over the bitcoin blockchain. I think, it can be a downside to bitcoin that lead to push away some users and investors.

Fee is not everything in bitcoin. Bcashers are attacking bitcoin blockchain by generating micro spam transactions to block the network. They know most of the fee will return to them because they have mining power in bitcoin too.

Yes ,its definitely affecting the small investors,if we have a fraction of btc and half of the fraction goes away as part of transaction fees what are the small investors left with??

It's so hard to accept if the fees are really high,when the fee is high i do transaction like 0.004 btc with 0.002 fees so that is not good for me and if that is the fee i think i will do transaction if i have big btc like i withdraw 0.05 btc,Moreover i think we don't have the right to object that so still bitcoin can brings so much conveniece even the fees are high.

It should definitely be a common man coin rather rich man coun!

Bitcoin high transaction fee is the biggest problem people are dealing with right now. if that problem is not fixed it will definitely kill bitcoin.