Money Talk

the bitcoin fee is annoying

Submitted by [email protected], , Thread ID: 45368

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RE: the bitcoin fee is annoying

#21
The only way to lower fees on Bitcoin is to raise the numbers of transactions can fit in one block.

RE: the bitcoin fee is annoying

#22
Originally, one of bitcoin's big selling points was that payments would be fast, convenient, and cheap. With bitcoins, transfers can take place across continents and timezones with no problems, no timelags, and only minuscule transaction fees.

Until the beginning of this year, bitcoin fees tended to be well below $1, and often less than $0.10. But in recent months, bitcoin's popularity has outstripped the network's ability to cope with growing demand. As a result, the bitcoin network today is a radically different animal. Fees are highthe average transaction yesterday cost around $28. And that is having huge implications for the ways bitcoin is being used and the kinds of businesses being built on top of it.

I hope Bitcoin SegWit2X on December 28, 2017, can cover any shortcomings in bitcoin. If not, we seem to have to think about switching to bitcoin cash or dash.. It might mean dropping cryptocurrency support all together until things stabilize. Or it might mean simply passing steadily rising costs on to customers.

RE: the bitcoin fee is annoying

#23
wow what 10% fee i didnt even know there was a fee

RE: the bitcoin fee is annoying

#24
The bitcoin fee is very annoyingI lose so much money I am not to smart with the trading.

RE: the bitcoin fee is annoying

#25
Right now there are too many transactions for the network. The highest bidder (fee) gets the transactions first

RE: the bitcoin fee is annoying

#26
I agree.. Coinbase rates aren't bad but when you trade the ups and downs it adds up over time

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