Topic: Whats the future of bitcoin with these high fees? - page 5. (Read 493 times)
Commission fees for Bitcoin transactions are now too high. For this, as well as for the slowness of bitcoin in transactions, it is fairly criticized. However, the network of lightning on the bitcoin has already been tested, which should eliminate all these existing bitcoin problems. The lightning network makes it impossible to wait for confirmation of the transaction and therefore they will be implemented very quickly. In addition, it will be possible to make transactions for small amounts and commissions for them will cost less than one dollar. Let's hope that from the New Year this network will work and bitcoin will lose these its shortcomings.
The problem is getting fixed soon, fees were better two or three days ago, I could send a 20$ transaction with a 1$ fee. I guess the number of unconfirmed transactions got bigger. If the lightning network gets activated the problem would be solved much faster than waiting, without the lightning network maybe it wont even get fixed.
The future of bitcoin is sure to be sunny rising bitcoin price is definitely very safe security done more tightened I think.
$20 fee for a $120 payment!
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
Compared to other investments there are many other factors such as safety, depreciation along with various fees respectively, Bitcoin's only major problem is high fees, this fees will eventually go down and while making huge transactions fees is very nominal. These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
everyone has this problem of paying high rates, I was angry myself these days because I paid 0.002 btc of fee and as if that was not a big loss I had to pay a 1% fee and I had to pay another $25 of the rate, I transfer $1000 for my country and I pay $200 of fee... it would be very good if they solved this question of high fee to minimize my situation
if you transfer money to your visa card, you pay a very large fee. $350 and they charge a fee of $30
one day these problems will be corrected
Don't know if lightning network could be activated soon and solve this problem, all I can believe is that the scalability problem would always be a serious threat for bitcoin existence itself. People could move to other crypto currency when they feel it's not worth to wait it gets solved anymore. $20 fee for a $120 payment!
These fees make using bitcoin unpractical.
These fees make using bitcoin unpractical.
if you transfer money to your visa card, you pay a very large fee. $350 and they charge a fee of $30
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
one day these problems will be corrected
Exactly dude ! I'm done with paying such high fees. The first transaction I had paid around 2 weeks ago still didn't confirm . I had paid around 1 USD and that was my biggest mistake. I don't know how long it is going to take now .
$20 fee for a $120 payment!
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
Indeed it does. Which is why a practical decision is to not use bitcoins as a tool for payment and only make transactions when you are looking to transfer big amounts or if it is for urgent emergencies.
If it lost its money feature, i think i may abandon it. Since i am after the coolness of using a crypto currency. If earnijg is what people want, they can do so and have even more investing in promising ICOs rather than investing in bitcoin. But still, i am not sure with my decision. Gues I'll just have to wait and see till this happens.
I think so, because i have been hearing a lot of this ligjtning network trying to fix the issues regarding bitcoin transactions. Would be pretty nice if this fix happens sooner.
I think it does not matter with it because bitcoin itself also has an increase so there will be a balance so there is no loss that makes us into someone who is distressed
What affect these high fees are small investors, like you said $20 for $120 transaction. But will the $20 matter if it's the 1 btc transaction?
We could only hope that these fees will be lower the soonest and if the slow transaction will be fix also, that will be great.
We could only hope that these fees will be lower the soonest and if the slow transaction will be fix also, that will be great.
Bitcoin was created by Satoshi Nakamoto to reduced problems faced by common people performing banking transactions. Its main purpose was to reduce charges and save money and time. This basic platform of bitcoin is now destroyed by the transaction charges of bitcoin. With rising price of bitcoin, transaction charges are also increasing. If things remain same in future investors may get diverted to some other investment options. Because charges was the main issue with other investment tools.
I completely agree with you. Such high fees can gradually destroy interest in bitcoin, which will entail many problems.
This is a worried matter in this time. Fee is not negotiable now and user is suffering much for sending small amount. But we see it, price of Bitcoin is not low. It is increasing day by day and for this reason fee is also increasing. Hope it will correct soon.
$20 ? You are still on the past my friend, the fees are much more expensive that just twenty bucks, they are 0.0017 btc, aproximately more than $28 at this moment. It really needs to get lowered asap.
bitcoin was really get a really high fees. it was so ridiculous to lose a lot on fees.. i have to sell bitcoin to other coin if i wanna to sell it rather transferring bitcoin to another place. it will be more cheaply for me.
well, I guess the fee in the bitcoin transaction really makes all bitcoin users uncomfortable. but, to get a fast transaction, in need of a large fee. well, I just hope that in the future, the fee from bitcoin is really reduced.
Yea I think this is something they need to fix ASAP I think it is the NUMBER 1 problem with bitcoin.... This is supposed to be a currency to use to transact globally not "gold" if I wanted gold I'd buy gold these developers need to move their ass and fix this issue YESTERDAY. It is basically stupid to transact in bitcoin right now LTC is the way to transact as of right now especially if your paying for low value items...
I don't disagree that the fees and scalability are the biggest issues right now but bitcoin can be both a currency and an investment and people can either use it to transact or hold it as a gold-like commodity if they want. The way it was designed was even compared by satoshi himself to essentially being similar gold with mining in the bitcoin whitepaper:
Quote
The steady addition of a constant of amount of new coins is analogous to gold miners expending resources to add gold to circulation
And for that reason I think bitcoin could become some sort of digital gold and pretty much one of the only reasons the price is so high right now is because people are speculating on its future value due to the fixed amount that will ever be in circulation (like gold). If people were only just going to use it as a currency then I don't think it would be worth as much as it is now but it's the future potential that people are investing in so that's why I think bitcoin is both a currency and a commodity like a digital version of gold which I think it a good thing if you can handle the fluctuations.
Well value of bitcoin is still high , so fees are high also. But with these high fees I don't see good days for bitcoin in the upcoming future.
However, no matter how high the transaction fees are, a lot of people will still transact because of a lot of reason. However, in terms of transaction, in my case, I haven't encountered a transaction that has a really high amount such as yours. I have already sent an amount of 0.1 bitcoin before and the only amount I used for transaction fee is 0.0001. It took atmost 24 hours, but still, that wasn't so bad.
$20 fee for a $120 payment!
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
These fees make using bitcoin unpractical. When people stops using it, Bitcoin should start losing its value... Some believes bitcoin will gain value because it is considered as virtual gold and a kind of investment even if it loses its "Money" feature.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
yes of course how not if the price is more expensive then the shipping cost will also be more expensive and the transaction will also be denser which causes bitcoin delivery to be very long, we can use altcoin that can replace the role of bitcoin and shipping cost is also cheaper.
Yes, it really needs to be corrected as soon as possible. For small transactions, the cost is really too high. We hope to find a perfect solution to both the cost and the lightning deal in the coming year of 2018.
Indeed if we cannot do something to fix it it will be useless and unpractical to use bitcoin,
Hoping that Bitcoin developers will push all possibility to improve Bitcoin transaction speed and transaction cost.
Hoping that Bitcoin developers will push all possibility to improve Bitcoin transaction speed and transaction cost.
bitcoin transaction prices are expensive because bitcoin prices are also increasingly expensive.
I think it's a natural thing, people who invest bitcoin will still benefit because bitcoin prices are more expensive.
I think it's a natural thing, people who invest bitcoin will still benefit because bitcoin prices are more expensive.
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