Topic: Whats the future of bitcoin with these high fees? - page 6. (Read 493 times)
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 think bitcoin value is staying because there is more users of bitcoin who are holding it for long terms and have no intention to sell the coins
Yes i am sure it's different this time if we can keep finding new excuses and the black tulips with yellow tips in
1634 were doing better than other tulips but flowers are use to brighten the place up and money or currency
has a job of moving wealth from A to B so that's a nice theory but it's wrong
Draw a graph and plot the recent rise in fees against the price and also note that BTC is making bad press for
the other coins too so the party might we wilt on the vine if they don't fix this darn fats too.
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.
$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?
HAVing bitcoin being regularized is much more worse I think especially with the fees as it is now I think that we have to bear this burden much more further as it is sill not being regularizef. A Little patience would be sufficent especially with the burgeoning prices of hitcojn
The bitcoin value is still high and i think time will come the transaction fees will getting lower. I think the fees are high because they knew that there is still a greater demand of bitcoin. But it is okey even it is high fees as long as there is still a profit.
If thats the case ,theres no such argument to be concealed with that, you high fees lessen the amount that we may get from the profit that we work on, I have experience this thing already I have gain a little yet the fee costs a lot and it almost take wthe 45% of my money, such a total loss to me , I hope this will end soon.
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
If they cannot make things as usual it would blemish the reputation of Bitcoin because only miners who earn this situations the patrons and investors are suffering with these.hopefully segewit will correct all these problems that widen the opportunities .$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
$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?
I guess Bitcoin will just become a source of storing value. But, I also fear the fees will destroy it in favor for other Altcoins. Everything is possible with Crypto Currencies.
I think it's depend upon the uses of bitcoin as digital payment and depend on the investment of the people in bitcoin. because even the price of bitcoin today is higher but if time comes that some people stop investing on it maybe the bitcoin will lost.
Having a high transaction fees somehow makes people thinks bitcoin is no longer worth it for investment such as big amount of our earnings will go to these fees and may somehow become impractical for a day to day transaction. If we want to have bitcoin as part of our markets as well as daily expenditute I think this issues regarding high transaction fees should be looking at and somehow find a solution.
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...
Well said that man so please vote for my code change that limits the fee to $1.50 because we don'y need 20,000 full nodes
just to process a maximum of seven transactions a second and the coin mining will still work without the CPU wars and wasting
electricity if we cut the numbers down from 20,000 to 1,000.
Miners that don't like the new rules are free to leave and if they carry on trying to use blackmail then Annon
will turn on them and that won't end well for anyone.
I think bitcoin value is staying because there is more users of bitcoin who are holding it for long terms and have no intention to sell the coins. This is the user base which keeping it all time high. If you see the market capitalisation then only +/-50 billion moves up and down everyday. This clearly gives idea that bitcoin ain’t gonna disturbed because of the high fees.
The high fees are pain in the back and everyone is getting frustrated because of it. This is the time the developers should start recognising need of people and should give out the forks like that. Hopefully everything will get cleared up soon.
The high fees are pain in the back and everyone is getting frustrated because of it. This is the time the developers should start recognising need of people and should give out the forks like that. Hopefully everything will get cleared up soon.
Many people like to send a test transaction from wallets or exchanges to an address before
committing to larger amounts but the crazy price of fees has put paid to that plan and the
slow speeds makes it look like the wheels are falling of the wagon anyway.
The question you have to ask yourself is are the miners trying to lock us in because it
sure does look that way to me and if you look at the chart below then you can see that
ten big names control 90% of transactions.
https://blockchain.info/pools
Forget about Lightning coming to the rescue in six months time or place any faith in testing
because they tested BTC for six years but apparently did not know that it would not scale
to anything over seven transactions a second.
See https://www.youtube.com/watch?v=UYHFrf5ci_g
Being a software engineer myself let me offer a fix in one line of code
public static money MaxTransFee=1.50 // Fuck the miners ripping people off
The developers keep talking about consensus so who wants to vote for my recommendations if like they say
we have a democracy in Crypto-land
committing to larger amounts but the crazy price of fees has put paid to that plan and the
slow speeds makes it look like the wheels are falling of the wagon anyway.
The question you have to ask yourself is are the miners trying to lock us in because it
sure does look that way to me and if you look at the chart below then you can see that
ten big names control 90% of transactions.
https://blockchain.info/pools
Forget about Lightning coming to the rescue in six months time or place any faith in testing
because they tested BTC for six years but apparently did not know that it would not scale
to anything over seven transactions a second.
See https://www.youtube.com/watch?v=UYHFrf5ci_g
Being a software engineer myself let me offer a fix in one line of code
public static money MaxTransFee=1.50 // Fuck the miners ripping people off
The developers keep talking about consensus so who wants to vote for my recommendations if like they say
we have a democracy in Crypto-land
Yes i noticed it too :3 bitcoin transactions fee now is really high 
i dont know if i could send some of my bitcoin to some exchanger to buy some coins , i hope they will fixed it and make it a little lower but it still okey to me if i will not going to take out my bitcoins on exchanger need to hold it there
i dont know if i could send some of my bitcoin to some exchanger to buy some coins , i hope they will fixed it and make it a little lower but it still okey to me if i will not going to take out my bitcoins on exchanger need to hold it there 
I just sent a transaction of about $100 worth of Bitcoin for $12 and it took almost 3 days to confirm. This time last year, I sent about $100 worth for $4 which took a couple hours. And in 2015 around this time of year, I sent a transaction of about $250 with a fee of $1.28, and it was confirmed within minutes.
I’m starting to worry about the high fees and overflowing mempool and quite honestly starting to explore alternative currencies until this problem is resolved... IF this problem is resolved, that is.
I’m starting to worry about the high fees and overflowing mempool and quite honestly starting to explore alternative currencies until this problem is resolved... IF this problem is resolved, that is.
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...
$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
I don't know what country you live in but to use my Visa card for anything but cash withdrawals the fees are zero. It doesn't cost me anything to send money to it either nor do I have any interest to pay if I pay it all off within a month. One of the biggest selling points of bitcoin when I first started was that you could send money to the other side of the world instantly and for a very minimal fee. This is obviously no longer the case and needs sorting asap.
Is bitcoin going to get fixed and make itself an easy and cheap payment method again?
one day these problems will be corrected
But the question is when? Every day that goes by that people have to pay these ridiculous fees more and more people leave bitcoin for other such coins. The longer this issue goes on the more damage it does to the bitcoin brand and one day it may never be able to recover and we may even find it becoming second or even third in line.
$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?
Though the fees on bitcoin is very impractical but you must also consider its increase in value so impractical. What I mean is that it is only normal for the fees to be high since the increase in bitcoins value is growing rapidly. So maybe if the volatility of bitcoins stops then maybe the fees will also be lowered. But since that will not happen we just accept the fact that higher fees are just a part of the daily routine of bitcoin.
For me it is also a problem that the wallets are charging much fee which ia not good for me when i want to send some amount of bitcoin then the wallet fee disappoint me the $20 for $120 payment is not a fare fee because the $20 is not a small amount for this we do a lot of work and we are very disappointed with this. The future of bitcoin will highly affected by the high fee as i noticed that the people are changing other wallets. The people with less amount of bitcoin are not able to withdraw any amount with this high fee.
We all know that the cost of bitcoin needs to be corrected. We hope to have a solution in the coming 2018, or it will hurt the development of the bitcoin itself.
Well looking at how high fees are applied for our transaction it is really impractical or not wise on our side to make payments with Bitcoin now. The ridiculous price of network fees make Bitcoin not look like a currency if the future anymore. Plus the bad thing about it is the sender or the buyer is the one who is shouldering the burden of the network fees, for me I don't like how I will incur additional cost just to send/pay on something using Bitcoin as it is unwise and more expensive to do so. It will look more of like a investment vehicle rather than a currency in the future.
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