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Author Topic: The future of Bitcoin Transaction fee?  (Read 13764 times)

Offline Stuart

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The future of Bitcoin Transaction fee?
« on: February 06, 2021, 07:29:43 PM »
As the price of bitcoin is surging higher, I feel that the transaction fees will likely increase and this could be a big challenge. What do you think, will something be done to that as time goes on or it continues the way it is already?

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The future of Bitcoin Transaction fee?
« on: February 06, 2021, 07:29:43 PM »

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Re: The future of Bitcoin Transaction fee?
« Reply #1 on: February 07, 2021, 02:46:24 AM »
I haven't actually done any bitcoin transactions in the current situation which is why I can't say so accurately.  But the fact that I have traded in ETH has made it very difficult to trade. Because when a token is sold for $50, it is seen that $40 seems to be gas fee. Gas fee has increased several times with the increase in etherium price.
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Re: The future of Bitcoin Transaction fee?
« Reply #2 on: February 07, 2021, 03:37:38 AM »
As the price of bitcoin is surging higher, I feel that the transaction fees will likely increase and this could be a big challenge. What do you think, will something be done to that as time goes on or it continues the way it is already?

I am hoping that we should be proactive about this big issue and not just wait for it to happen right before our eyes. There must be things in place to effectively tame the rise of transactions fees especially during the bull run or if there can be clogging in the network. The solutions should be long-term and not just band-aid type. I hate to be paying a lot when doing cryptocurrency transactions all because this is not what we signed up for and I think - just a personal view - that it is a big shame to experience exorbitant fees for any cryptocurrency including Bitcoin.


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Re: The future of Bitcoin Transaction fee?
« Reply #3 on: February 07, 2021, 04:45:42 AM »
While the price of Bitcoin has risen so much, transaction fees has also increased. There is a problem in giving token sale as the transaction is more fee.

So my question to everyone is that if the transaction is fee, is there any possibility of reduction ??
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Re: The future of Bitcoin Transaction fee?
« Reply #4 on: February 07, 2021, 04:52:21 AM »
I haven't actually done any bitcoin transactions in the current situation which is why I can't say so accurately.  But the fact that I have traded in ETH has made it very difficult to trade. Because when a token is sold for $50, it is seen that $40 seems to be gas fee. Gas fee has increased several times with the increase in etherium price.
In fact, brother, I have heard such things from several users. Again I found it to be real proof that I have a token that showed $49 tension fees at the time of sale but I can sell that store for 45 dollars. If there is such a problem then it will be seen that no one will want to give token sale anymore.
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Re: The future of Bitcoin Transaction fee?
« Reply #5 on: February 07, 2021, 05:06:38 AM »
I think so too because the way the value of bitcoin is rising now and the way its popularity is rising seems to be the future of transactions. Free will increase a lot. Currently the most popular cryptocurrency coin is Bitcoin. Bitcoin is called the king of cryptocurrencies. Currently, the price of bitcoin is rising uncontrollably.I think Bitcoin is going to touch $50k soon. So it can be said that bitcoin transactions may increase.
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Re: The future of Bitcoin Transaction fee?
« Reply #6 on: February 07, 2021, 02:00:38 PM »
Bitcoin is now the most popular currency in cryptocurrency. Bitcoin is now a well-known and well-traded currency. As the price of Bitcoin is increasing day by day, I think this transaction fee will increase in the future.

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Re: The future of Bitcoin Transaction fee?
« Reply #6 on: February 07, 2021, 02:00:38 PM »


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Re: The future of Bitcoin Transaction fee?
« Reply #7 on: February 07, 2021, 02:25:07 PM »
With the rise in the price of Bitcoin, the transaction fee has remained the same but the number of dollars has increased.  The connection fee has increased due to the recent rise in the price of Bitcoin.  We saw that when the price of Bitcoin was 7000$-10000$ then there was a transaction fee
 0.0005 btc.  But now the same transaction fee remains to increase the price of Bitcoin.  So I think the bitcoin transaction fee should be reduced a lot.
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Re: The future of Bitcoin Transaction fee?
« Reply #8 on: February 07, 2021, 03:41:42 PM »
Of course I agree with you. As the price of Bitcoin continues to rise, there is a possibility of a free increase in Bitcoin transactions. I think bitcoin transactions must increase in the same way that bitcoin prices have risen over time. However, at present, bitcoin transactions are normal. I'm not sure how long it will last.
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Offline Shahinaz

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Re: The future of Bitcoin Transaction fee?
« Reply #9 on: February 07, 2021, 11:45:45 PM »
Of course I agree with you. As the price of Bitcoin continues to rise, there is a possibility of a free increase in Bitcoin transactions. I think bitcoin transactions must increase in the same way that bitcoin prices have risen over time. However, at present, bitcoin transactions are normal. I'm not sure how long it will last.

Free costs are not possible, there are higher costs, for example eth, shipping costs are very high for whatever reason, maybe in exchanged sometimes give free sales, but if for delivery it will not be possible for free

Offline I-Bit

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Re: The future of Bitcoin Transaction fee?
« Reply #10 on: February 07, 2021, 11:54:36 PM »
I think the fee of Bitcoin transaction is normal, you can choose when it is not too expensive. Actually, it is not too different with Ethereum fees. It becomes ezpensive because of many people use it. But when people don't use it many, it will decrease the transaction fees.

Offline ayatoslaw

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Re: The future of Bitcoin Transaction fee?
« Reply #11 on: February 08, 2021, 12:22:54 AM »
I don't think that's a problem for bitcoin today, because I didn't hear any info about upgrades to be made to the bitcoin network, usually when there is a problem the bitcoin developer will upgrade.
I think the one with the problem about transaction fees is Ethereum, not BTC )),

Offline Tamsialu$$

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Re: The future of Bitcoin Transaction fee?
« Reply #12 on: February 08, 2021, 01:29:51 AM »
The transaction you mentioned is basically a problem but I haven't seen it in Bitcoin. This problem is most prevalent in Etherium. Because there are so many rumors that Ethereum's transaction is free. So I don't think Bitcoin is the problem.
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Offline Damrai5$

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Re: The future of Bitcoin Transaction fee?
« Reply #13 on: February 08, 2021, 02:40:39 AM »
I have proved practical in my own way. The price of Bitcoin has increased so much that I have not seen any change in Transaction fee as it was in the case of Transaction fee Bitcoin. But I have noticed that Ethereum requires more fees transactions. I believe Bitcoin will not be so gas fee.


 

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