BTC failing as a payment method

[Ambatman]

I have been battling with making a transaction for some days now and the fee is not encouraging
Even viabtc has been taken over by ordinals bot.
Bitcoin was crested to be cheap and fast but the scalability issue is affecting it.
Sigh Making transaction with fiat is way faster and cheaper.

In the festive period where transactions are rampant one can't even get any confirmation without paying an exorbitant fee.
What are your thoughts on this Decembers congestion in the mempool and how were you able to complete your transaction?

[paid2]

I have been battling with making a transaction for some days now and the fee is not encouraging
Even viabtc has been taken over by ordinals bot.
Bitcoin was crested to be cheap and fast but the scalability issue is affecting it.
Sigh Making transaction with fiat is way faster and cheaper.

In the festive period where transactions are rampant one can't even get any confirmation without paying an exorbitant fee.
What are your thoughts on this Decembers congestion in the mempool and how were you able to complete your transaction?

BTC is still a great storage of value, decentralized (not really but could be worst..) and with the possibility to be exchanged P2P. So I'm still happy.
I don't really care about the fees, as I prefer to use XMR instead of BTC when I need to do some low value transactions. And we still have LN if needed.

I don't pay my groceries with gold, but with cash 

[Primo1760]

I have been battling with making a transaction for some days now and the fee is not encouraging
Even viabtc has been taken over by ordinals bot.
Bitcoin was crested to be cheap and fast but the scalability issue is affecting it.
Sigh Making transaction with fiat is way faster and cheaper.

In the festive period where transactions are rampant one can't even get any confirmation without paying an exorbitant fee.
What are your thoughts on this Decembers congestion in the mempool and how were you able to complete your transaction?

It is almost the end of December but the Mempool is still increasing. But the Mempool is likely to increase in January as well. The probability of mempool decreasing is very low but increasing is the most likely. As I don't earn any money from here I am completely abstained from transaction at present.

[goaldot]

In my own understanding, the transaction fee goes higher whenever the price of btc increased. Not because of December, It happened most times. When I read some people's comments concerning the transaction fee, I asked why? That was how I knew.

[tranthidung]

It is almost the end of December but the Mempool is still increasing. But the Mempool is likely to increase in January as well. The probability of mempool decreasing is very low but increasing is the most likely. As I don't earn any money from here I am completely abstained from transaction at present.

Ordinals won't stay forever, it is my belief. They just were born, hyped greedy people but eventually they will end with deaths.

Basically you must think of their use cases and utilities which are not good at all. Those factors create value and because Ordinals lack of such factors, they have no value that in turn decide price.

Temporarily, when people are greedy, they ignore it and buy up the price but value is different, still useless. Time flies fast and soon price will be pulled back to reflect real value.

Then Ordinals gone, Bitcoin mempools will be back to normal but surely it will take painful waiting time.

• Inscriptions, Mempools and Miners

[Tribalchief]

It is almost the end of December but the Mempool is still increasing. But the Mempool is likely to increase in January as well. The probability of mempool decreasing is very low but increasing is the most likely. As I don't earn any money from here I am completely abstained from transaction at present.

Ordinals won't stay forever, it is my belief. They just were born, hyped greedy people but eventually they will end with deaths.

Basically you must think of their use cases and utilities which are not good at all. Those factors create value and because Ordinals lack of such factors, they have no value that in turn decide price.

Temporarily, when people are greedy, they ignore it and buy up the price but value is different, still useless. Time flies fast and soon price will be pulled back to reflect real value.

Then Ordinals gone, Bitcoin mempools will be back to normal but surely it will take painful waiting time.

I don't think it's advisable to just fold hands and look. This increment in transaction fee is affecting everyone in general. The issue of ordinals and it's various involvement with the Blockchain system should be address by the Bitcoin community. There is already a decline in NFT, so why waste people's time by introducing similar system to the Bitcoin technology.

This whole situation still feels cold. A rapid heat of the situation would definitely occur next year when lots of transaction would be done, then ordinals might be a talking point, which would lead to its mandatory decline.

[NikeFit_7777]

Is this happening for the first time? Such a situation already happened with bitcoin exactly one year ago +/-. As practice has shown, waiting is the best way to save money. Why overpay now? It's better to wait a bit, and then quietly deposit/withdraw funds, with minimal commissions. I just don't see any other way out of this situation. In the same eth similar situations with commission happen a bunch of times. Nothing, lodi wait and we will wait until everything is settled.

[examplens]

Is this happening for the first time? Such a situation already happened with bitcoin exactly one year ago +/-. As practice has shown, waiting is the best way to save money. Why overpay now? It's better to wait a bit, and then quietly deposit/withdraw funds, with minimal commissions. I just don't see any other way out of this situation. In the same eth similar situations with commission happen a bunch of times. Nothing, lodi wait and we will wait until everything is settled.

This means that Bitcoin, as the most important cryptocurrency, is only used for savings. What should those who have to sell or buy do?
What about all micro-businesses, which have many small transactions daily? Here, for example, mixers, can you imagine how this affects their business, where the basis of the entire business is making transactions?
At least one-third of the Bitcoin ecosystem is currently in trouble or has minimized operability due to this exorbitant fee.

[Gladitorcomeback]

It is almost the end of December but the Mempool is still increasing. But the Mempool is likely to increase in January as well. The probability of mempool decreasing is very low but increasing is the most likely. As I don't earn any money from here I am completely abstained from transaction at present.

Ordinals won't stay forever, it is my belief. They just were born, hyped greedy people but eventually they will end with deaths.

Basically you must think of their use cases and utilities which are not good at all. Those factors create value and because Ordinals lack of such factors, they have no value that in turn decide price.

Temporarily, when people are greedy, they ignore it and buy up the price but value is different, still useless. Time flies fast and soon price will be pulled back to reflect real value.

Then Ordinals gone, Bitcoin mempools will be back to normal but surely it will take painful waiting time.

• Inscriptions, Mempools and Miners

It doesn't matter if Ordinals don't stay for long. the fact is that they are causing a lot of chaos and trouble in bitcoin market. I don't know who are benefiting from them (there are probably people who making hell a lot of money off them. that's why they are so much in hype) but for normal Bitcoin users like OP. these ORDI causing a lot of problems specially in term of transaction fee. as OP mentioned it almost became impossible to use BTC as a payment option nowadays due to these high transaction fee.
and only high transaction fee is not the problem. the bitcoin network is very slow too. normal transactions taking several days to confirm. how are people suppose to live with that?

[NikeFit_7777]

Is this happening for the first time? Such a situation already happened with bitcoin exactly one year ago +/-. As practice has shown, waiting is the best way to save money. Why overpay now? It's better to wait a bit, and then quietly deposit/withdraw funds, with minimal commissions. I just don't see any other way out of this situation. In the same eth similar situations with commission happen a bunch of times. Nothing, lodi wait and we will wait until everything is settled.

This means that Bitcoin, as the most important cryptocurrency, is only used for savings. What should those who have to sell or buy do?
What about all micro-businesses, which have many small transactions daily? Here, for example, mixers, can you imagine how this affects their business, where the basis of the entire business is making transactions?
At least one-third of the Bitcoin ecosystem is currently in trouble or has minimized operability due to this exorbitant fee.

Obviously, bitcoin is the most important cryptocurrency. Those who need to sell/buy urgently should wait a bit (or pay full commission). Alas, I don't see any other option.
As for the mixers and (business in general), I think they still have additional sources of income that will cover the current losses. I won't insist on my assumption, because it's an assumption and nothing more. 

And so, in general...the situation with the commission is not pleasant, I agree. 

[bitmover]

At least one-third of the Bitcoin ecosystem is currently in trouble or has minimized operability due to this exorbitant fee.

I think this is temporary. This has happened before, and after Ordinals crazy in May 2023 , and things just went back to normal

soure: mempool.space

[Ambatman]

I think this is temporary. This has happened before, and after Ordinals crazy in May 2023 , and things just went back to normal

soure: mempool.space

Yes i believed it was temporary too and after the first debacle i thought it was over but boom is back during December
For reasons am still not clear about.
This fee is going to be outrageous if this persist till the approval of ETF.
Saw a news that their website was attacked recently and Casey Rodarmor who stated has step away from ordinals was the first to speak out.

[Fivestar4everMVP]

The current state of the bitcoin network is very disappointing to be honest and also say the least, but then, I do not think bitcoin has failed or is failing as a payment method.

L2 version of the bitcoin network exists for a reason, and that is to handle the micro payments of bitcoin, but the issue right now is that, many are yet to start using it, most don't even know that such facility exists for bitcoin, which is, instead of transaction on the L1 bitcoin network and paying exorbitant fees, one can easily use the lightening network to enjoy cheap and faster bitcoin transfers globally.

It's time we start looking at the L2 bitcoin network as a possibly solution to the high transaction fees on the main bitcoin network, or better still, avoid bitcoin transaction at the moment pending when the network returns to being cheap and stable again.

[KingsDen]

I'm always a preacher of coexistence. In the cryptocurrency industry I support that every aspect of the industry should be allowed to exist because there will be a time that the help of that particular aspect of the industry would be needed. This is the reason why I am not happy about the predicament that the mixers are facing in the industry. Even though we know that most of them are bad players at least we should give them a place to exist because Bitcoin its is not without a sin.

I am saying in Ernest is that many people were against centralized exchanges that accept kyc. I am not that much privacy human being so I submitted kyc in the one of the centralized exchanges. During this period of high transaction fees, it is the exchanges that have been helping me. I have seen their importance this time around meanwhile I think some people are making use of lightning network. However, I am confident that this situation will not continue this way

[Mrbluntzy]

Bitcoin is not failing as a payment method, Bitcoin is only facing a temporary problem which the cause is already known to be as a result of the ordinals. If the ordinals finally get off the mempool, the transaction fee will definitely become normal, these may take some time but I believe it will still get resolved and when ever thing goes normal again, we will forget about this current issues and pretend like it never happended. Every thing on earth has its disadvantaged and advantage and right now Bitcoin is still faced with this issue but that doesn't mean it will not get better.