Topic: Will Bitcoin have faster transations with lower or no fees? (Read 187 times)
no way if you what that use alts .Miners are going to milk this for it is worth
I really how it is sorted out soon because it is really getting annoying waiting ages but more annoying very high fees that defeat the whole reason to use bitcoin to buy things. It was becoming too much of a commodity or asset and I hope this lightning network will fix everything.
I know the pain of huge transaction fees sometimes it is larger than the amount of bitcoin you were actually sending but don't worry every problem has a solution and the devs are working hard to solve this problem and currently they are testing lightning network and in few months lightning network will be released on the main network if this will a successful microtransaction will be possible in bitcoin again.
The "lightning" project, which is designed to solve all these problems, is already successfully tested on bitokoy. It will allow not to wait for confirmation of transactions and therefore the transactions themselves will be conducted very quickly. In addition, this project allows you to carry out transactions with small amounts and commissions with them will not exceed one dollar. The implementation of this project is planned to be carried out next month. It remains a little time, let's see how it will be in practice.
In time yes, look in to the lightning network that is being developed, it should lower fees and increase transaction speeds. In the nearer future it looks like segwit2x may go ahead again, increasing block sizes should in theory increase speeds.
When the lightning network gets implemented you won't need to bigger the block size. Segwit isn't even fully adopted yet.
If everyone would use segwit, the transaction fees would be way lower. Actually segwit is enough scaling until LN get implemented.
On-chain scaling like doubling block size is just a short-term solution. A second layer (e.g. lightning network) are the way to go and make block size increase needless.
Bitcoin can't have faster transactions since they're already instant. You must be referring to the confirmation time which is almost 15 minutes if you pay the right amount as for the fees I don't see it getting lower since it's needed for the bitcoin miner that will create the block where your transaction info will be stored.
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
In time yes, look in to the lightning network that is being developed, it should lower fees and increase transaction speeds. In the nearer future it looks like segwit2x may go ahead again, increasing block sizes should in theory increase speeds.
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
Bitcoin is going to have faster confirmation speeds when a company decides to host up nodes that can support transaction fees.
Bitcoin as the top of investment and payment in digital zone right now still update and develop their own system. I am pretty sure that bitcoin will have faster transactions with lower or no fees in the future. So I can predict that bitcoin will become powerful in affect people's life in the future because it is faster in transaction and cheaper fees.
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
Just small edit in your title: Will Bitcoin have faster Confirmations with lower or no fees?
No, bitcoin has only 1 MB block size which and will be confirmed 10-20 Min-max{high fee} or more than 1 Hour {low fee}.
maybe in future developer increase block size{less confirmed time and low fee}, until that pay high fee or use forks and altcoins.
probably it will not be any cheaper or faster in the next few years. BUT, this is exactly what some alts are trying to fix, and one of them might even succeed.
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
I guess it the future will be possible to have small fees and transactions will become faster than of today, because if more miners will mine bitcoin transactions it will help to prevent congestion of block-chain network. If this will happen there will be more day trades and the circulation of bitcoin trading will improve a lot better, so buy and sell will become more prominent.
Stop spewing rubbish if you have no idea about how Bitcoin works. There is no correlation between the number of miners and confirmation times. Congestion of the bitcoin network is caused due to large number of transactions. This will be solved only if the block size increases or if other scaling solutions are developed.
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
Transactions are almost INSTANT.
Confirmations are based on the 10 minutes delay between blocks.
One of the exchanges I use requires just one the other 3, so even if the tx makes it in the first block my funds will get confirmed by them 20 minutes later.
And fees will go as high as people are willing to pay and as low as usage can get.
The only solution is LN:
https://en.bitcoin.it/wiki/Lightning_Network
As for the future....my crystal globe needs a nougat upgrade
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
Bitcoin has only 1 megabyte as time goes on less and less Bitcoin reward per block = higher difficulty on getting a single bitcoin. i think the fees would go high same with the price of Bitcoin it self. if all of the Bitcoins are mined the miner would just rely on the fees on what their getting from the transactions = Higher fee demand from miners would be high I think. what is happening at this moment there are some big whales that are flooding the blockchain to make transaction fees higher and slower than the usual.
Since BTC blocks are approximately every ten minutes, confirmation times are usually 5-15 minutes if you send with a high fee.
As for fees, it's obviously a complicated matter but they would drop somewhat if we moved into a bear market, because there might be less dramatic volume on exchanges.
They could also fall if more people begin to use SegWit (which is still not being used by most users) and the Lightning Network is implemented in major services (which could take a very long time).
As for fees, it's obviously a complicated matter but they would drop somewhat if we moved into a bear market, because there might be less dramatic volume on exchanges.
They could also fall if more people begin to use SegWit (which is still not being used by most users) and the Lightning Network is implemented in major services (which could take a very long time).
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
I guess it the future will be possible to have small fees and transactions will become faster than of today, because if more miners will mine bitcoin transactions it will help to prevent congestion of block-chain network. If this will happen there will be more day trades and the circulation of bitcoin trading will improve a lot better, so buy and sell will become more prominent.
The main problem of BTC transations is the unpredicteble time to receive the payments. Will Bitcoin in the future have faster transations? And what about the fees? Will the fees decrease on the future? What solutions are being developed? What will be the future of Bitcoin about these questions?
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