Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Stuart on February 06, 2021, 07:29:43 PM
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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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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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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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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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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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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 $50k soon. So it can be said that bitcoin transactions may increase.
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Bitcoin is now the most popular currency in cryptocurrency. Bitcoin is now a well-known and well-traded currency. As the price of Bitcoin is increasing day by day, I think this transaction fee will increase in the future.
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With the rise in the price of Bitcoin, the transaction fee has remained the same but the number of dollars has increased. The connection fee has increased due to the recent rise in the price of Bitcoin. We saw that when the price of Bitcoin was 7000$-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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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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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
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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.
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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 )),
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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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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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Then there will be another solution just like segwit which has a much lower fees. Prices of Bitcoin based on the charts keep on increasing and so as fees but I know maybe devs has future plans or upgrade to lower fees.
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I am also worried about this issue for two months now. I really don't like it. And it seems to me that Bitoin's price per transaction will always be high.
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It could happen.
But for me it is a natural thing that when bitcoin prices go up, gas fees also go up.
There are several factors that affect the transaction fees also increasing, namely the density of bitcoin transactions. That's one of the factors that caused bitcoin gas fees to rise. so that all people who transact using bitcoin choose to increase transaction fees so that they can get to their destination quickly
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Bitcoin transaction fees are still affordable, namely 0.00005 BTC and if we convert to USD, of course the price will go up, but unlike altcoins, which experience an increase of more than 10% for shipping costs due to the tight network on the blockchain
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I haven't seen complaints from many people about Bitcoin transaction fees even though Bitcoin's price is increasing, unlike Ethereum's transaction fees which are quite expensive. So in my opinion, don't worry too much, I'm sure Bitcoin transactions can still be reached.
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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?
Currently, the price of Bitcoin is very high. I don't think the price of Bitcoin has gone up Bitcoin transaction fees will increase. Because the transaction fee of Bitcoin is the same now as before.Bitcoin’s transaction fees in 2017 and what’s currently transacting aren’t too different.Bitcoin transaction fees may increase in the future. Because one day the supply of bitcoin will end.
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At present, the price of Bitcoin is increasing day by day. So the gas fee of this bitcoin will increase due to the increase of bitcoin day by day. Because Bitcoin is one of the best coins, its use is increasing day by day, so its price is also increasing day by day. So I think the rise in the price of bitcoin could increase its gas free. Bitcoin is the king of all coins.
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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?
At present, the price of Bitcoin is increasing day by day. Because Bitcoin is one of the best coins, it's use is increasing day by day, so it's price is also increasing day by day. Coruntly the Bitcoin price is now very high. Because the transaction fee of Bitcoin is the same now as before. Bitcoin's transaction fees in 2017 and what's current transacting aren't too different. Bitcoin transaction fees may increase in the future. Because one day the supply of Bitcoin will end.
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I wonder if bitcoin transactions may increase a little in the future. Because day by day people are getting more and more attracted towards cryptocurrency. And with the passage of time, Bitcoin's popularity has skyrocketed.Bitcoin transaction fees are very affordable at the moment. However, as the demand for Bitcoin is increasing day by day, it seems that the scientific transaction free can increase compared to the current.
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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.
That's true , you're right when bitcoin price is increasing , the fee will increase too. It's normal. Everyone complain about high fee transaction. But we should know, It was caused by price increasing.
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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 think it is normal for Bitcoin transaction fees to be expensive if the price goes up and we must not forget that miners are also involved in these fees because if miners' jobs are made cheaper it will be unprofitable. As a result, miners could stop mining and we won't be able to make any transactions further.
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With the increasing price of Bitcoin this will also affect the transaction fees. We can see now that the transaction fees for some markets are increasing even more expensive, because the price of coins is also getting more expensive. Then the same thing must have happened to Bitcoin.
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I am sure that the fee will be higher and higher again. Because commonly when the price of Bitcoin in increasing, the transaction will be more crowded and we must pay for higher fees in order to our transaction updated and also processed
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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?
Sure! Some exchanges already increased Bitcoin transaction fees. This will affect many people and perhaps Bitcoin transactions will decrease by some percent. But I don't think if the fees will go over 0.0013 BTC Satoshi.
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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 can not confirm that because I have never made a transaction. But if there is a price increase, it might just be some kind of natural and inevitable adjustment
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Last 6 months, i haven't made any Bitcoin transaction other than TRON, USDT, XLM for cheaper fees. Obviously, it's also a matter of concern with the price up of Bitcoin. It's a simultaneous process of increasing transaction fees of Bitcoin with the increase of price. It makes problem for the small amount holders when the want to make Bitcoin transactions. Actually we have nothing to do here.
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The future of the Bitcoin transaction is good and this time the fee is not so much high and in the future i hope its fee is not high like now this time but the ETH fee is high then the BTC at this time.
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Bitcoin transactions can be trimmed by using a wallet from Segwit whose address prefix is bc32h and usually only costs 5000 satoshis.
But if we use a wallet of the Legacy type, the transaction costs will be expensive, I also got this information from various friends on Telegram and it is really good to develop.
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Bitcoin's transaction gas fee has increased due to the additional increase in the price of Bitcoin. Nowadays it has become a big challenge. Because small transaction transactions touch the gas free sky. Which is not possible for middle class users. I think this problem should be solved very soon.
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I think that the developers of the bitcoin network should find a solution in the future to reduce the fee for bitcoin transactions. Otherwise, using bitcoin as a means of payment will not be very profitable and people will not use it.
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I think that the developers of the bitcoin network should find a solution in the future to reduce the fee for bitcoin transactions. Otherwise, using bitcoin as a means of payment will not be very profitable and people will not use it.
Yes, I think for now,the big issue is fee transaction. I agree with you, I think the team should solve this problem. Many people have invested in bitcoin and Ethereum, they complain about gas fee.
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The future of transaction Bitcoin may be able to check right now moreover when the price of BTC is also very high, the mining fee will be also higher. This is because the transaction is high and crowded enough so that the condition of the mining system is also crowded. If we want our transaction speed enough, we can increase the fee
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If there is no change in the Bitcoin and Ethereum fees, it will be a problem in the future. I doubt if people think that the fees in crypto are higher than the conventional market. Yep, basically, with crypto, we can transfer the coins in a cheap fee. We need to lower the fees in order to make people feel more comfortable to do transaction in crypto assets.
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If there is no change in the Bitcoin and Ethereum fees, it will be a problem in the future. I doubt if people think that the fees in crypto are higher than the conventional market. Yep, basically, with crypto, we can transfer the coins in a cheap fee. We need to lower the fees in order to make people feel more comfortable to do transaction in crypto assets.
Certainly. I agree with your opinion. In economic principles we recognize the law of efficiency. And the relatively large cost will definitely make many people consider and think looking for cheaper alternatives, and this can be a dangerous thing for bitcoin.
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Currently, we are forced to accept the problem of transaction costs, LightningNetwork used to be an effective solution, but its capacity cannot help much.
I hope that in the future the Bitcoin community will have a solution that is effective enough to solve this problem. The idea of WBTC could be developed to bring BTC transactions to a blockchain with greater transaction speed and cheaper transaction costs.
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This is a great sadness, which in my opinion will not allow this crypto market to fly further into this growing cycle, I think this problem will be solved thanks to WBTC!
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I think if the Bitcoin price continues to soar then the transaction fees will also be high. This will continue to happen. One way out is if the Bitcoin team made a breakthrough to solve this transaction fee problem.
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I think if the Bitcoin price continues to soar then the transaction fees will also be high. This will continue to happen. One way out is if the Bitcoin team made a breakthrough to solve this transaction fee problem.
Yes, It always be the problem, when the price is increasing, the gas fee increase too. I hope bitcoin team will solve this problem..Becaue We all see many people complain about the gas fee.
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In my opinion, the longer this transaction fee will be even higher, especially if the Bitcoin price continues to increase. this is actually very unsettling. I hope that soon will find a way out.
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Since the price of bitcoin is constantly growing and more and more people are starting to make various transactions with their bitcoins, and because of this, bitcoin transfers are constantly costing more and nothing can be done about it, you just have to wait for the price of bitcoin to fall and then everything will return to its own places.
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Of course transaction fees will always go higher as btc price escalate, but even at that, I don't think it is as high as eth gas fees, we already know btc has high transaction fees reason why most people turned to eth but unfortunately eth was hiding the true colour of being the network with ridiculous high fees.
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Who doesn't want to see Bitcoin's price increase, but who wants to accept high Bitcoin transaction fees? Even though it cannot be separated, the high price will definitely have high transaction costs. My hope is that in the future Bitcoin transaction fees will be cheaper than now, despite the high increase in Bitcoin prices.
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I believe this is a normal trend when Bitcoin rises and the transaction fee rises accordingly. The same situation is now observed with Ethereum, where the gas price reaches new highs, and everyone expected a reduction in commission after Ethereum 2.0, but few people take into account the rise in the price of the coin. in addition, one must take into account the fact that there are a lot of players on the cryptocurrency market and Bitcoin will not only rise in price, but also raise the price per transaction, since the network currently does not have very high throughput capacity.
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As the value of bitcoin is increasing, Transaction fee is also increasing. High fees have to be paid for transfer of low value funds.
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Cryptocurrency has now taken a horrible form gas fee. The gas fee has made it difficult to tokenize the token because the token costs twice as much as the token that can be sold. Due to which the token is not going to be sold now and it is under threat.
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I am very worried about this, I saw some people accept WBTC and in that network the commissions are very small, I did not understand the technology, but I think such wrappers will help, the only question is the volatility of the asset!
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Now, Transaction fee is threat for me. Mostly when i going to send BTC, ETH or any ERC20 tokens. If price of btc or eth going to up more, Then, We can't use BTC, ETH for small payment.
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I think the transaction fees for this bitcoin will continue to increase. because indeed the price of bitcoin will also be more expensive. and indeed this needs immediate handling, so that the small investors can also continue to party later.
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I am very skeptical about it.Will bitcoin transactions ever be reduced in the future?I have no knowledge or idea about this so I can't say anything.If Bitcoin transactions are reduced in the future, I think Bounty Hunters will suffer the most.At present tokens have to be exchanged and dollars have to be exchanged with huge transaction fees.Where these works are being done with a lot of loss.
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You are right that with the increase in the price of Bitcoin, the transactions of Bitcoin will become free and increase. Currently the price of Bitcoin is much higher and at the same time the transaction fee of Bitcoin has increased. At present it takes 4$ to 5$ dollars to make a small amount transaction. At present, the transaction fee has been increased from 40$ to 50$ . I think there will be more transactions in the future.
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This is one of the challenges by Bitcoin from the first time that the fee is always high. Although since Segwit wallet is created, sometimes, we can get a very cheap transaction fee. however, after this bullish time, everything is likely changing and getting higher and higher for the fee itself.
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My guess is that there will be no bitcoin transaction fees in the future. Bitcoin free will increase over time. Because as the price of Bitcoin rises, they will look for a safer way to trade it, which will be a little more free but will give more security.
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Yes, brother, you are right that with the increase in the price of Bitcoin, the transaction free of Bitcoin has also increased. To transfer a small amount, a lot more transactions have to be returned. It has become a big problem. I think this problem should be solved. We are facing many problems in increasing the price of Bitcoin.
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Now the transaction fee is high but i hope in future the fee is going to be low because the coin price go high that time and i hope that time the other ALT coins go high and touches the sky.
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Now the transaction fee is high but i hope in future the fee is going to be low because the coin price go high that time and i hope that time the other ALT coins go high and touches the sky.
Most likely the transaction fee will increase due to the fact that the demand is huge. The higher Btc price the higher fees. Why? Traders and investors need to buy or withdraw Bitcoin at this time.
The estimated minimum fee for inclusion into the next block is currently 149 sat/byte, which equates to a fee of $14.97 at a price of $44,870 per BTC. Source (https://cointelegraph.com/news/88-of-all-btc-transfers-are-overpaying-transaction-fees)
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Yes, brother, you are right that with the increase in the price of Bitcoin, the transaction free of Bitcoin has also increased. To transfer a small amount, a lot more transactions have to be returned. It has become a big problem. I think this problem should be solved. We are facing many problems in increasing the price of Bitcoin.
That's true brother, Bitcoin price is increasing now, we all see the gas fee also increasing ..I think It is normal but really high cost for transaction and trading. I hope gas fee will go down. Because many people complain about it
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In the future, I think bitcoin transactions.Free will be reduced. Currently Bitcoin Free has increased a lot.Due to which investors are having a lot of problems.So if the transaction fee is reduced in the future Then it will be beneficial for everyone.
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In the future, I think bitcoin transactions.Free will be reduced. Currently Bitcoin Free has increased a lot.Due to which investors are having a lot of problems.So if the transaction fee is reduced in the future Then it will be beneficial for everyone.
You are absolutely right right now Bitcoin transactions are much more free Due to which all investors Having a lot of problems.So Bitcoin should be reduced free.
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Currently, if you use any wallet, you can see that all the wallets are free of excess gas. Currently the biggest problem for Bounty Hunters is the extra transactions in different wallets Free. However, since the value of bitcoins is being pumped a lot at present, I think bitcoin transactions can be doubled at any time for free.
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Currently, if you use any wallet, you can see that all the wallets are free of excess gas. Currently the biggest problem for Bounty Hunters is the extra transactions in different wallets Free. However, since the value of bitcoins is being pumped a lot at present, I think bitcoin transactions can be doubled at any time for free.
I highly suggest you review your post before your publish them on the forum because this post in particular lacks proper meaning,
How is the Bitcoin transaction going to be free? That has never happen when btc cost way less and won't happen now that btc cost a fortune,
From what I can is the higher the btc price the higher will be the transaction fee.
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I doubt if Bitcoin transactions will be reduced in the future.Because the transaction fee is increasing day by day.Which is the saddest thing for the current Bounty Hunter.Bounty Hunter is currently facing many problems due to additional transactions being fee.You can earn a small amount of tokens by bounty and you have to pay a large transaction fee to exchange those tokens.From which it can be said that there is nothing left at present.I'm still not sure if the transaction will be reduced in the future.
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The price of bitcoin has gone to the moon. This is normal since the price of Bitcoin has gone up so it cannot be said that transaction free can go up. But now bitcoin transactions are much more free which is also imaginary It can't be done. However, I hope that the bitcoin transactions will decrease very soon
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Bitcoin transaction fees will still be more expensive as the price increases, it might be a problem for people who want to send a little bitcoin around $ 30 and one day expensive transaction fees will not be a problem anymore
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Bitcoin fee transactions do feel heavy when sent between exchanges but if you use a blockchain wallet the direct fees are not too expensive than Ethereum
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Currently, if you use any wallet, you can see that all the wallets are free of excess gas. Currently the biggest problem for Bounty Hunters is the extra transactions in different wallets Free. However, since the value of bitcoins is being pumped a lot at present, I think bitcoin transactions can be doubled at any time for free.
Hi, where bitcoin transaction fees are fee? Do bounty hunters use Bitcoin wallet or ERC20 wallet mostly? I am confused and don't understand your comment. Please comment after thinking.
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The amount of transaction fee currently charged in cryptocurrency is unimaginable. Because the transaction fee is twice as much as the token that sells can be used to earn income. If this continues, many investors will not be able to survive soon because of the huge transaction fee.
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I hear rumors in everyone's mouth that all other coins including bitcoin are subject to transaction fees. The fact that transaction fees has increased so much I think it will have no effect on investors. Because they are very big businessmen or owners of a company that I think will not have any effect on them. But for those who are usually working in the bounty section, the transaction fees is the biggest problem.
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Gas fee have been skyrocketing for some time. Because if you want to send a fee tokens, it costs three times more gas fee. We are not able to make any transfer at present. The biggest problem is the extra gas fee is currently being consumed.
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Gas fees are now the biggest problem in cryptocurrency. Due to the increase in additional gas fees, we are currently not getting payment from any project. I don't know if it will decrease in the future. If gas-fee costs continue to rise, cryptocurrencies will soon be destroyed.
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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?
With the rise in the price of Bitcoin, the amount of Bitcoin transaction free has increased. Bitcoin used to be traded at 0.0001 BTC. But now it has increased to 0.001 BTC. Then you understand how much bitcoin transaction free has increased with the increase in the price of bitcoin.
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I'm hoping that the gas fee would not turn to be like ethereum. For sure it would be the biggest regret of bitcoin for letting the competitors gain a big part from btc losing momentum.
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Again, fees are a problem in this crypto world. High fees are a major obstacle. In fact, Bitcoin itself has always required a higher fee for the transaction to be successful. After there was a Segwit Electrum wallet, anything could happen. sometimes only a few satoshis. But now it's different, fees also increase with tajham as the Bitcoin price increases.
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I hope there will be a cheaper low in Bitcoin transactions. It will be so hurt to see the price of the transaction really high. As far as I know, it should be lower. Satoshi stated on the whitepaper that the fee of the transaction should be cheap. If it is high, what is the difference between Bitcoin transactions and conventional bank fees in real life? Low fee on the transaction should be the characteristics of Bitcoin.
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Well yes it will continue to increase the fee if bitcoin price keeps increasing. Satoshi Nakamoto abandoned the bitcoin so there is no hope that can lower the bitcoin transaction fee.. If you want to transfer or sending someone with your tokens better to use other cryptos that has cheap transaction fee..
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The transaction fee will be changing if the transaction in the block is crowded enough. So, it influences how high to speed up your transaction. But actually and basically the transaction fee of Bitcoin is high enough. And now is also increasing always more than 100 sat
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The cryptocurrency market is developing a lot at the present time but everyone is having problems due to the additional increase in transaction free. There are many small traders who are having a lot of problems to trade as the section is so fees. The price of science is still rising at a huge rate but the transaction fees will be reduced a bit. In fact, everyone will benefit, especially for trading.
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Bitcoin prices have started to fall. It is unknown at this time what he will do after leaving the post. We know that the transaction fee for bitcoin has increased due to the increase in the price of bitcoin. So again, if the price of Bitcoin goes down, of course, the transaction of Bitcoin will go down. I have no idea if there is any other way.
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Bitcoin prices have started to fall. It is unknown at this time what he will do after leaving the post. We know that the transaction fee for bitcoin has increased due to the increase in the price of bitcoin. So again, if the price of Bitcoin goes down, of course, the transaction of Bitcoin will go down. I have no idea if there is any other way.
Of course fee transaction will increase ,if the bitcoin price is increasing. That's normal at crypto currency market. Because when bitcoin price is increasing, I think the traffic will increase too. that's my opinion
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Bitcoin currently takes many transactions for free Which is why investors are more of this free Not getting a very good benefit by investing.So I think in the future bitcoin transactions will be free If reduced then for all of us Many will benefit.And for investors it would be considered much better.
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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?
Ofcourse the bitcoin transaction fee will get increase near future because of huge number transaction request in a single block.. Actually the bitcoin smart contract has a block space and the space storage increase on and it cost the high fee now for a single transaction..
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In the current situation, gas fees are being incurred on the way to transfer tokens. The way gas fees are spent is beyond comprehension because selling tokens costs twice as much as what is available. Thus, if gas fees continue to be spent, the cryptocurrency will gradually be threatened.
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Due to the fact that transactions are more free at the present time Everyone is having a lot of problems.Because no one has their wallet because it is more free Unable to give token cell from.Wants additional transactions free If you want to reduce the free then everyone There were many benefits.It is expected that the transaction will be reduced in the future.
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Currently Bitcoin's transaction fees are much lower than Ether's. However, the rise in the price of Bitcoin is likely to increase the transaction fee in the future. I wish the authorities good luck so that the transaction fee of Bitcoin does not increase in the future.
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Gas fees have risen very fast for a few days
Thus, if the gas fee continues to increase, the forum will be destroyed in a few days. Because everyone will skip working. There is a huge cost involved in transacting something.
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I think today bitcoins are mainly held by large funds for which such commissions are small, and even when paying with bitcoins, these are quite expensive purchases, bitcoin is not suitable for mass use, but this is cool digital gold!
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Yes, you are right. The price of Bitcoin has already multiplied many times over. Bitcoin has crossed 50k dollars and reached 58k dollars. With the rise in the price of Bitcoin the price of Ethereum coin has been increasing and so has the transaction fee. This has now become a major problem for cryptocurrency users. Especially for those tiny bounty hunters who have had the biggest problem. No one knows when this problem will be solved.
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Network Congestion on the Blockchain Competitively Raises Fees
The main reason for high bitcoin miner fees is supply and demand. The bitcoin block size is 1MB, which means that miners can only confirm 1MB worth of transactions for each block (one every ten minutes). If the number of transactions waiting to confirm exceeds what can fit in 1 block, bitcoin miners choose to confirm the transactions with the highest bitcoin miner fees.
The year 2017 was a good example of high miner fees. For all of 2017, the number of bitcoin transactions people wanted to make every 10 minutes exceeded what the 1MB block size could handle. As a result, miner fees skyrocketed and Larger Transactions Cost More to Send
Generally, bitcoin transaction fees are directly proportional to the size in bytes of your transaction.
Sending a bitcoin transaction is a lot like sending mail through the postal service. If you're sending a small letter, it is quick and inexpensive. However, if you're trying to send a large package, shipment will take longer and be more expensive.
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But in 2020, transaction with 10-15 sat/byte were confirmed in few days (sometimes even during 1 day). 5+ sat/byte transaction were confirmed in less than 5 days and I've waited a week for 1 sat/byte. Some days ago, I've made a transaction with 5sat/byte and expected it to come in a week, but already 13 days passed since then. It is not even rebroadcasted to mempool. I might say that transactions have degraded.
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As a matter of facts, there is the possibility of a higher transactions fee as price increases on a regular basis, and think this situation may not change even in the future. As long as price keep rising, transaction will go likewise. Despite noejwork congestion, I believe transactions fees will keep rising because miners will also demand more for their network confirmation.
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There is nothing you need to worry about because there are many Bitcoin miners today, the Bitcoin network is certainly getting denser due to the increasing number of activities, but it is not like Ethereum which has many users because of the many projects on the ether network, Bitcoin fees are still affordable and you can see them at here :
https://bitinfocharts.com/comparison/bitcoin-transactionfees.html
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The way the price of Bitcoin has increased, it has been seen that the network fee of Bitcoin is much higher but now it is seen that the price of Bitcoin has come down more than before. So it can be said that due to the reduction in the price of Bitcoin, I hope that the transaction fee of Bitcoin will be reduced in a fair way.
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The higher the Bitcoin price, the more expensive the regular transaction is, even though it is only in the form of 1 satoshi because the fraction of 1 satoshi is taken from the Bitcoin price at that time.
Suppose we have about 10 Bitcoin and will be sent at a cost of 3000 satoshis with the rate at that time the Bitcoin price is around 100,000 USD then it is certain that a multiple of 3000 satoshis will get a price share of 100,000 USD.
In conclusion, the more expensive the Bitcoin price, the transaction fees are the same as usual, only the price for Fiat is expensive.
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The current gas fee for transfer is very high. Thus, if there is a transaction fee, then there will be no one to work in very bad cryptocurrency in the future. Because selling tokens costs three times more transaction fees than what is available.
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The current gas fee for transfer is very high. Thus, if there is a transaction fee, then there will be no one to work in very bad cryptocurrency in the future. Because selling tokens costs three times more transaction fees than what is available.
Obviously, this is a problem that must be addressed immediately because people may start apathetic about this. but I am sure they will listen and begin to improve, if not sure there are other ways that can be taken so that the fees will not have a big impact. because there is no other way, someone will look for and make that alternative, we just have to wait.
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Maybe transactions from Bitcoin will feel expensive and of course Bitcoin also has an unpredictable price increase.
I think this will be a talking conspiracy for all cryptocurrency traders and will create a FUD for Bitcoin in the future.
But don't worry because there are so many altcoins that offer low fees because of their large supply of coins and pairs with BTC in various markets and this is a solution for cheaper BTC transaction fees.
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Bitcoin transactions are unlikely to be free in the future. As time goes on, the transaction fee for security will increase further. Because if you don't think about the security of the rate at which the price of Bitcoin is rising, there will be a possibility of Bitcoin being stolen, so everyone will work with the reason of the transaction in mind.
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Bitcoin transactions are unlikely to be free in the future. As time goes on, the transaction fee for security will increase further. Because if you don't think about the security of the rate at which the price of Bitcoin is rising, there will be a possibility of Bitcoin being stolen, so everyone will work with the reason of the transaction in mind.
The fact is that miners will not work for free, but nevertheless, transactions cannot be different if they plan to use Bitcoin as a means of payment. If this does happen, then
Ethereum has a better chance of becoming a leader as ETH teams are looking to tackle transaction costs in the near future.
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I think Bitcoin transaction fees will not decrease in the future. And what is likely to be a gradual increase in bitcoin transaction fees. This is actually a very painful thing. Many of us can't do much because of high transaction fees. Hopefully the bitcoin transaction fee will continue to decrease.
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I think Bitcoin transaction fees will not decrease in the future. And what is likely to be a gradual increase in bitcoin transaction fees. This is actually a very painful thing. Many of us can't do much because of high transaction fees. Hopefully the bitcoin transaction fee will continue to decrease.
At present, the main problem is that Bitcoin transactions are free. I think with the increase in the price of Bitcoin, Bitcoin transactions are free Will increase further. If so, many middle class holders and investors will not be able to trade Bitcoin. Hopefully the bitcoin transaction fee will go down.
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Now, as the price of bitcoin increases, so does the price of transaction fees. Using bitcoin as a means of payment is not very profitable. Perhaps still in the future, a solution will be found to reduce the commission. Satoshi Nakamoto when he created bitcoin conceived a low commission .
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Now, as the price of bitcoin increases, so does the price of transaction fees. Using bitcoin as a means of payment is not very profitable. Perhaps still in the future, a solution will be found to reduce the commission. Satoshi Nakamoto when he created bitcoin conceived a low commission .
Yes, that's right, if the bitcoin is increasing ,I think the transaction fee will increase too. That's normal at crypto currency market. I hope the team will have good decision to solve this problem. It is not good for investors
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The way the value of bitcoins is rising, it seems that transaction fee will increase a lot in the future. Because in the case of Ethereum, we have seen that when the price of Ethereum was pumped a lot, Ethereum transactions Fee grew in a very bad way. As a result, no participants were able to transact from the Etherium platform. So if Bitcoin transactions increase for fee, it could be a headache for all users.
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The main reason why future bitcoin transactions will not be free is that the price of bitcoin is increasing over time. Hey everyone is worried about security. So keep the bitcoin safe in the safest place to keep the transaction free.
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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?
As the price of Bitcoin rises, so does the fee for Bitcoin transactions. However, the increase in fees for bitcoin transactions is very difficult for customers. It seems very embarrassing to me.
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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.
Yes, I agree with you because the increase in bitcoin price will increase the gas fee. However, it is more common in etherium. So I don't think that's possible with Bitcoin
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For now transaction fee encourages holding also it encourages locking your bitcoin in a lending protocol where you are getting like from a savings account some interest on your locked bitcoin and then you can use those funds to be transfered as nano which does not have a transaction fee to wherever you want without a fee
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Yes, saving your bitcoin is a very good idea now that btc is pumping, and a return from saving activities could be use to effect all transaction fees depending on the amounts of btc coins for transfers.
However, I think that the more the increase in the price of btc the higher the transactions fees.
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Brother you have discussed the most complex issue of the transaction at the present time. Currently the price of many coins including Bitcoin and Etherium has gone up. This is good news for crypto related people. But along with the increase in the price of various coins, the transaction fee has also increased a lot. Which is hard news for us. However, gas fees are highest on Ethereum platforms. It is often seen that selling a 100 token costs around 50 to 60. Hopefully this problem will come down very soon.
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Yes it is also fearing me that Bitcoin transaction fee can go really high. But i am not sure if by Halving will be able to control it or not.
Developers are making lightning network for drastically decreasing the transaction fee.
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I think Bitcoin transactions may increase in the future. Because of the current way in which the price of bitcoin is rising, it is only a matter of time before the transaction fee for bitcoin increases.Because you may have noticed in the past how much Ethereum's transaction fee increased when Ethereum's price exceeded.So I shared this information with you from previous experience.
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Yes, transaction fees are the biggest problem right now. In 2021 the price off all coins has gone up and so has the transaction fees. This has become a problem for everyone, especially for those who are small bounty Hunters. It turns out that if we earn 50 dollars Frome a bounty project. The transaction fee it's about 25 dollars. This shows that our net cost is not rising. We aur not getting that value of the work we are doing. I think this problem should be e addressed as soon as possible.
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I think the Bitcoin price is still so high, the transaction fees will also remain at the highest level as well. So that in fact these conditions complement each other.
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The future of Bitcoin transaction fees is unclear. As there are still chances to make a transaction 1 sat/byte. It will takes weeks, if not months for transaction to reach, but it still can be confirmed. Same is as user might set any transaction price and pay for a transaction more than a sum send.
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In my opinion, bitcoin transaction fees are expensive, it is true, but that is also followed by a very sharp increase in bitcoin so that transaction fees are also high, but that is not a problem for bitcoin holders but if transaction fees can be reduced or cheaper it is better.
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If the price of BTC is rising up again, when many more people use the blockchain to have the transactions, I personally believe that the price will be also very high. It dep[dns on how crowded the chain and also the rate of BTC itself.
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as always, the speed and cost of transactions will greatly depend on each other. In addition, it should be borne in mind that the cost of transactions primarily increases with the increase in demand for asset transfers. thus, the more users use Bitcoin and also create transactions, the higher the transaction cost. But this situation will have a very bad effect on ordinary cryptocurrency users, who will plan to use Bitcoin as a means of payment to pay for a cup of coffee.
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Bitcoin's transistor free time is increasing more and more. If this continues, the cryptocurrency market will be a big problem for those who trade. If the bitcoin transistor is free then it is very good for everyone.
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It is not profitable for ordinary users to use bitcoin as a means of payment . I think that if the developers do not solve the problem with high transaction fees, then bitcoin will be used for payment by either very rich people or large companies. So far, bitcoin is best suited for investing in it.
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Bitcoin transactions will be free in the future. Because the price of Bitcoin is increasing with the passage of time. For Bitcoin security everyone will think of more security to do bitcoin transactions as a precaution. So they will stay away from the medium of free transactions.
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Bitcoin transactions will be free in the future. Because the price of Bitcoin is increasing with the passage of time. For Bitcoin security everyone will think of more security to do bitcoin transactions as a precaution. So they will stay away from the medium of free transactions.
I think Bitcoin transaction fee may increase further in the future. Store prices are rising very fast as bitcoin prices are rising as well as bitcoin transaction fees have started to rise.So I can't agree with you.Yes, the popularity of Bitcoin is constantly increasing. But that has nothing to do with Bitcoin transaction fee.
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Yes brother I agree with you. The post you have made is very good. I understand something after reading your post. Now I have some idea in my head.
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I think the of blog chains can be more. I think these two prices will increase a lot more. For example: BTC itself depends on the rate.
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I myself am confused as to how much fee bitcoin transactions may increase in the future.Because the demand for bitcoin but cryptocurrency is getting stronger day by day.So as its popularity is increasing so I think its popularity and its value increase with the transactionfeeCan grow. Although I shared this comment from my own experience.
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I think the of blog chains can be more. I think these two prices will increase a lot more. For example: BTC itself depends on the rate.
Hi buddy, How much the Bitcoin delivery fee have you paid?
even today even though the price is as high as $ 60k, delivery costs are still affordable.
I don't see a high spike in shipping fees for BTC delivery transactions.
Until now, there have been no complaints from users and shipping costs are still affordable.
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The amount of bitcoin transactions currently available is fairly satisfactory. However, if Bitcoin's transaction fee increases further in the future, it will be additional transaction fee Hopefully Bitcoin transactions won't grow as much as Fee Ethereum.
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Gas fees are increasing day by day as cryptocurrency is now decentralized. Gas fees have not been spent in this way before but now a huge amount of gas fees are spent for transfer. And the likelihood of further growth in the future seems much higher.
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There is a point that I do not understand. Are the commissions really high or are the commissions looking high because bitcoin's price is rising? For example: In the past, 50000 satoshi was taken in transfers and now 50000 satoshi is not taken?
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There is a point that I do not understand. Are the commissions really high or are the commissions looking high because bitcoin's price is rising? For example: In the past, 50000 satoshi was taken in transfers and now 50000 satoshi is not taken?
it looks like what you are saying is indeed happening right now and it could be what happened because of the impact of the very high increase in the value of bitcoin, because it resulted in everyone making rules that might be based on the increase in the price of bitcoin. but this could be wrong but the trigger is clearly the already very high price of bitcoin is the main thing.
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Since btc is already designed thos way I don't think anything can be done regarding it's high transaction fees, as a result of high fees I can't remember the last time I use btc to transfer fees,
Btc is increasing price and so will be the transaction fees
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Bitcoin popularity is rising day by day and It's demand is so high.I think it's future of transactions fees will increase a lot.
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I think the amount of Bitcoin paid now is much higher than before. However, I would like to ask the senior brothers if there is any way to reduce this free, if there is any, then of course. Discuss below so we can learn a lot from your post.
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The popularity of bitcoin is growing day by day but its not necessarily to increase the transaction fees of bitcoin. Because there are many new investors and traders are starting their business in the crypto market. When any one new in the market he or she will never invest a big amount first of all he or she will invest a little amount then the large transaction fees discourage him or her to enter into the market. So increase transaction fees is not good sign at all for crypto currency market also bitcoin. So its need to update the blockchain technology so that the transaction fees will never exit range of little investor.
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The amount of bitcoin transactions currently available is fairly satisfactory. However, if Bitcoin's transaction fee increases further in the future, it will be additional transaction fee Hopefully Bitcoin transactions won't grow as much as Fee Ethereum.
I also think that the current Bitcoin transaction fee is tolerable or satisfactory. Bitcoin's transaction fees are quite satisfactory, especially compared to Ethereum. Bitcoin's popularity and number of investors are increasing day by day; Now if its transaction fee goes up, it will have an impact on investors. So my expectation is that the Bitcoin transaction fee should be kept at a tolerable level at any cost.
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The current amount of transaction fees will not be the case in a few days. Changes will come as the current platform has been decentralized from centralized so much is being spent. Gas fees will return to normal.
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Transaction fees are currently being slashed due to the good cryptocurrency market. After a while the transaction fee will no longer be charged. The transaction will return to normal later.
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The current amount of transaction fees will not be the case in a few days. Changes will come as the current platform has been decentralized from centralized so much is being spent. Gas fees will return to normal.
Yes, I hope gas fee will return to normal..Because I think Ethereum price is increasing, I think It is the reason why gas fee is so high. But I hope Ethereum team will have good solution for it.
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Bitcoin prices are rising very fast. At the same time, the amount of free Bitcoin transactions is increasing.When the price of Bitcoin was 12,000,$ Bitcoin transactions used to cost a maximum of 1$ to 2$.And now the price of Bitcoin is around 60$ thousand and now the transaction free takes much more than before.I think Bitcoin's transactions may decrease a bit in the future
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Bitcoin is a digital currency that already exists Has gained a lot of popularity all over the world.And what is the best of cryptocurrencies is Bitcoin.But now Bitcoin's transaction free has been increased.And the price of bitcoin has also risen enormously.So I think bitcoin in the future Transaction free will be brought to a flat level.
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I do not think that bitcoin transaction gees will decrease in the future except the price go down. As it stand, the price of btc is trending between $57k to $59k as at the time of writing this post; a situation that will also affect the fees. I think that the higher the fees the higher the transaction fees now and may be in the future. We may not experience low transaction fees in as much as btc keep rising.
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Bitcoin is a digital currency that already exists Has gained a lot of popularity all over the world.And what is the best of cryptocurrencies is Bitcoin.But now Bitcoin's transaction free has been increased.And the price of bitcoin has also risen enormously.So I think bitcoin in the future Transaction free will be brought to a flat level.
I think the bitcoin gas fee will increase when the bitcoin price increase. As many people said thats normal..Why must be complain..Because It will happen as long as the market is green and going strong . that's my opinion.
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Currently everyone is in a dilemma due to the extra cut in gas fees. Because small bounty hunters and small investors have a lot of problems. Everyone is speculating that gas fees in the future Cut less. Many are frustrated by the extra cut in gas fees. We all hope that the officials will discuss this issue in the future. Everyone is speculating that the gas fee on Bitcoin will come down one day.
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Yes, and one of the solutions in cutting btc possible higher gas fees in near future is just convert to other cheaper blockchain networks to move your coins. In my opinion, many blockchain networks will help to reduce the effects of higher btc, eth gas transactions fees across the crypto space will definitely be a huge options.
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Bitcoin is much more expensive so the transaction fee will be a bit higher. However, these fees are normal in the digital ecosystem. Lots of bitcoins are traded every day. The digital ecosystem representing bitcoin transactions is growing. Bitcoin transactions at traditional banks are on the rise. Bitcoin is currently in high demand.
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Due to the rapid rise in the price of Bitcoin, the transaction fee may also increase soon. I think this could be a big challenge. What is your opinion on this? What are you thinking about it? Something will happen over time. Thoughts should be thought of as time goes on.
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No, Bitcoin still has the best hope of continuing to grow in the future because it has something called mass adoption.
Just look at Wrapped Bitcoin from erc20 and bep20, where this adoption is great for all Bitcoin transactions that can be trimmed using fees from bep20 or Binance smartchain and will be cheap about the first time it was sent.
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In my opinion, the transaction fees will not reduce it will also increase with bitcoin increasing value. But I always convert my Btc to any coin that has less transaction charges to transfer and that way I sell my BTC. We have the option and we should use these options to avoid paying high gas fees. I don't know transaction charges of BTC can be controlled or not but as far as I understand it can not be controlled by anyone.
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Due to the rapid rise in the price of Bitcoin, the transaction fee may also increase soon. I think this could be a big challenge. What is your opinion on this? What are you thinking about it? Something will happen over time. Thoughts should be thought of as time goes on.
Of course, with the rise of Bitcoin prices, Bitcoin transactions have increased a lot.I think Bitcoin transaction free will increase more in the future.Bitcoin is currently priced at over 60,000 $. Maybe by the end of this year the price of Bitcoin will reach 1 million . And then with the price of Bitcoin, the transaction fee will go up.
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I am worried about future Bitcoin transactions. Because I think Ethereum's transactions may increase for fee in the future Because we saw that when the price of etherium was low, Ethereum dropped he didn't notice much of an increase. But when the price of etherium increased, so did the price of etherium Fees increased.
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I do not think that in the future bitcoin will increase the price per transaction, but even if it is, it will not be as high as it is now with Ether, Bitcoin is stable in this regard.
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Bitcoin transaction fluctuated significantly as more users started to display interest in the cryptocurrency. Growing transaction fees both the number of Bitcoin transactions that are waiting in line to be processed, are as an incentive to miners to process the especially large transactions.
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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?
It is not impossible that the way Bitcoin's price is rising, it is normal for its transaction fee to increase a little. However, I don't think Bitcoin's transaction fees are out of reach because Bitcoin is the number one coin in the entire cryptocurrency world. We all know this, so it's impossible for Bitcoin to behave in a way that would put all cryptocurrency-related transactions at risk.
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There are so many transactions in the current cryptocurrency that it is impossible to imagine. Because cryptocurrency is spending so much gas fee for the first time. Gas fees have never been spent in this way before but now the amount of gas fees is likely to increase further in the future.
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I think the transaction fee of Bitcoin in the future should have the solution to make it be friendly. The transaction fee of Bitcoin is a bit expensive right now. One of the reasons may be about the bullish season, so people become active to send their Bitcoin from a wallet to another wallet. This probably leads to an increase in Bitcoin fees. After the bullish, it can be normal again.
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I am worried about future Bitcoin transactions. Because I think Ethereum's transactions may increase for fee in the future Because we saw that when the price of etherium was low, Ethereum dropped he didn't notice much of an increase. Maybe by the end of this year the price of Bitcoin will reach 1 million . And then with the price of Bitcoin, the transaction fee will go up.
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I think Bitcoin transaction free will increase more in the future.Bitcoin is currently priced at over 60,000 $. Maybe by the end of this year the price of Bitcoin will reach 1 million
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There are so many transactions in the current cryptocurrency that it is impossible to imagine. Because cryptocurrency is spending so much gas fee for the first timeso it's impossible for Bitcoin to behave in a way that would put all cryptocurrency-related transactions
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I am worried about future Bitcoin transactions. Because I think Ethereum's transactions may increase for fee in the future Because we saw that when the price of etherium was low, Ethereum dropped he didn't notice much of an increase. Maybe by the end of this year the price of Bitcoin will reach 1 million . And then with the price of Bitcoin, the transaction fee will go up.
of course there will always be cause and effect that will occur from the increase in bitcoin, so if there will be a high enough fee, then that is likely one of the consequences that will occur. but usually a lot of innovations will occur as long as there will indeed be someone who feels disadvantaged, by making alternatives so that prices will be cheaper and it is more natural that it will happen. the more innovations there are, of course there will be improvements that must be made so that many are interested in using them.
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Bitcoin still has the best hope of continuing to grow in the future because it has something called mass adoption.What are you thinking about it? Something will happen over time. Thoughts should be thought of as time goes on.
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The bigger and higher the Bitcoin price, the more expensive the transaction fees are.
This is unavoidable because the decimal fraction of Bitcoin is also expensive and difficult for everyone to hold.
It's just that everyone is not aware of these costs because the price of Bitcoin is also expensive and can make yourself forget.
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It is not impossible that the way Bitcoin's price is rising, it is normal for its transaction fee to increase a little. Bitcoin to behave in a way that would put all cryptocurrency-related transactions at risk.
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The bigger and higher the Bitcoin price, the more expensive the transaction fees are.Because cryptocurrency is spending so much gas fee for the first timeso it's impossible for Bitcoin to behave in a way that would put all cryptocurrency-related transactions
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The bigger and higher the Bitcoin price, the more expensive the transaction fees are.Because cryptocurrency is spending so much gas fee for the first timeso it's impossible for Bitcoin to behave in a way that would put all cryptocurrency-related transactions
This is a cause and effect thing and a natural thing, where if the price is high, the costs will automatically follow. but bitcoin is still decent compared to ethereum, which in fact requires a lot of transactions with ethereum, but the price is sometimes, with what to be transferred can even be greater in cost. This is of course very unfair if it is related to bounty participants, whose income is already small but the costs are very large.
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Bitcoin transaction fees can only be reduced if it scalability issues is resolved by introduction of lightning Network which will FasTrack transactions and lead to drastic reductions in the transaction fees if not resolved the fee will continue to rise as the price of Bitcoin increases
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The bigger and higher the Bitcoin price, the more expensive the transaction fees are.Because cryptocurrency is spending so much gas fee for the first timeso it's impossible for Bitcoin It's just that everyone is not aware of these costs because the price of Bitcoin is also expensive and can make yourself forget.
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Bitcoin developers are thinking about this problem, how to reduce the transaction fee, or do they still make money on it. Then it is profitable to use bitcoin when its price is low, we will wait for the fall of bitcoin and buy a full cutlet.
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A few days ago, transactions on Bitcoin were much more fee. But now the transaction fee has returned to normal. So now if you transfer token, you can transfer token at low cost or limited cost. Transaction failures are much lower now than in the past and more likely to be lower in the future.
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A few days ago, transactions on Bitcoin were much more fee. But now the transaction fee has returned to normal. So now if you transfer token, you can transfer token at low cost or limited cost. Transaction failures are much lower now than in the past and more likely to be lower in the future.
The fact is that the price of Bitcoin is growing and its demand in the market is increasing. the time will also come when Bitcoin will be used in society more often and almost every day. thus, the network bandwidth will be significantly reduced and therefore the transaction price will only increase.
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Bitcoin is the king of other coins in the cryptocurrency market. The price of bitcoins in the cryptocurrency market has risen at a rocket speed. With the rise in the price of bitcoin, Bitcoin developers are thinking about how to reduce bitcoin transactions and how to make money from bitcoin.
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Bitcoin transaction fees are higher than before. Not just Bitcoin. E-fees for all other currencies are currently higher in cryptocurrencies. But the latter can be expected. It will be reduced a lot through updates. Just waiting for the time.
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Bitcoin transaction fees are higher than before. Not just Bitcoin. E-fees for all other currencies are currently higher in cryptocurrencies. But the latter can be expected. It will be reduced a lot through updates. Just waiting for the time.
The fact is that a decrease in fees on the Bitcoin network can be expected only after the throughput of the BTC blockchain increases. But today Bitcoin is becoming more and more popular in society and transactions on the network are increasing in number. this fact cannot lead to a reduction in the cost of the transaction.
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Yes, the price of Bitcoin transaction fees is too expensive now. I don't know what we can do to the Bitcoin transaction fees. But it is needed to lower the price, it is too expensive for small traders. I also believe that even big traders have difficulties with the current Bitcoin transaction fees.
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At present Bitcoin has a lot of transaction free transactions which is why investors are in a lot of trouble with transaction free.Reducing bitcoin transactions for free would have benefited all investors.However, I think in the future, Bitcoin's transaction will be reduced to free.
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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 itcoin transactions can be trimmed by using a wallet from Segwit whose address prefix is bc32h and usually only costs 5000 satoshi. But if we use a wallet of the Legacy bitcoin network should find a solution in the future to reduce the fee for bitcoin transactions. Otherwise, using bitcoin as a means of payment will not be very profitable and people will not use it
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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'm afraid it will stay on that way. That is always the normal trend in every kind of project that has a huge traffic and there is no way to change it since everybody in the community is part of it.
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Bitcoin developers are thinking about this problem, how to reduce the transaction fee, or do they still make money on it. Then it is profitable to use bitcoin when its price is low, we will wait for the fall of bitcoin and buy a full cutlet.
In fact, I am not in favor of the fall in the price of Bitcoin, I want the Bitcoin transaction fee to be reduced. Although the transaction fees for Bitcoin and Ethereum have already dropped significantly compared to a few days ago; However, it has not returned to its former state. My expectation is that Bitcoin transaction fees will soon come down as before and the price of Bitcoin will rise further. If the price of Bitcoin increases, the market of the whole cryptocurrency will increase.
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Importance of bitcoin is increasing day by day due to the increase in traffic and investment of different users in the cryptocurrency market. So now new users are interested in bitcoin transactions as soon as they join the cryptocurrency market. Bitcoin tops the list of more transactions. So even if a much higher fee is required for future Bitcoin transactions, Bitcoin transactions will not be reduced in any way. Rather the day will improve with the change.
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Bitcoin's transaction free and increased in the same way that the price of Bitcoin has increased.The price of Bitcoin will increase further in the future and it can be said that Bitcoin transactions may increase However, I think Bitcoin transactions will return to normal very soon.Because Bitcoin is the best currency among all cryptocurrencies. This coin is the most used.
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We all know that Bitcoin reigns supreme in cryptocurrencies. Bitcoin is called the king of the cryptocurrency whose position is first. Several days ago, Bitcoin was cut off from gas due to investors There have been many problems. But now he has overcome the problem. Gas free is now cut less than before. In fact, if the transaction fee is cut more, everyone has to face various problems. Ethereum at present The problem is no more.
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I will agree with the original poster that the cost of settling a transaction on Bitcoin blockchain will continue to grow alongside the increase in the value of Bitcoin. To peers, this might seem discouraging for them but to miners its a good thing because in the future when bitcoin supply will become fully in circulation, miners will have to rely only on the incentives from transactions confirmation since there will be block reward again.
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Many thanks to the senior brothers for bringing up such a beautiful post among us. At present, free token transactions are very common. But I don’t know which free cuts at which time and which Time is short. So if you know any senior brother, you must raise a little among us. Then we can learn a lot from there.
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I think Bitcoin has the highest market value among all the coins in the cryptocurrency now.For the past few days, cryptocurrency users have been almost frustrated with the issue of additional transaction fees. It has been seen that if you get payment from any bounty, you have to pay 50 dollar transaction fee.But now there is no such problem.The additional transaction fee issue has now been resolved.
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I think Bitcoin has the highest market value among all the coins in the cryptocurrency now.For the past few days, cryptocurrency users have been almost frustrated with the issue of additional transaction fees. It has been seen that if you get payment from any bounty, you have to pay 50 dollar transaction fee.But now there is no such problem.The additional transaction fee issue has now been resolved.
Why didn't you mention What kind of fees exist today to transfer Bitcoin? I believe that even if we are talking about paying 10 or 15 dollars of commission, then it will not be a big problem for an investor or trader, But if you use Bitcoin as a means of payment in everyday life, then such commissions are unprofitable for an ordinary user in general, of course, if it is not about buying valuable enough items.
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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 )),
Bitcoin transaction fees are really high compared to top altcoins. For trading on stock exchanges, this is still acceptable, but for payment for the purchase of inexpensive goods and services, it already becomes unrealistic. If you buy coffee with Bitcoin, paying for the transaction will cost many times more than the coffee itself. This is one of the reasons why bitcoin is not used in everyday life.
It was necessary to fix the situation with expensive transactions for a long time, but a close-knit team of developers does not stand behind bitcoin, and their individual groups cannot agree among themselves to choose a specific solution. This is another bitcoin problem.
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We know that bitcoin is a very modern and technological currency in the cryptocurrency market. We also know that it's the best valuable and top currency in the cryptocurrency market. We can see that when bitcoin price is increasing than we can see that it's transaction fee is increasing.So i trust the transaction fee of bitcoin is very well in the future time.
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As far as I know after halving of BITCOIN the transaction fee or the block size will decrease and this means the transaction fee will increase too. Also the fee depend on BTC price. The more the price will increase , the more the fee will increase too if you calculate the fee according to the USDT value. But in case of satoshi value, the fee may remain same.
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I think from the available data, the bitcoin transaction fee will increase in price because when the selling price of bitcoin goes up and many people have difficulty getting bitcoin, it will make the bitcoin price very expensive and of course it can have a terrible impact on transaction fees in bitcoin.
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I think from the available data, the bitcoin transaction fee will increase in price because when the selling price of bitcoin goes up and many people have difficulty getting bitcoin, it will make the bitcoin price very expensive and of course it can have a terrible impact on transaction fees in bitcoin.
Yeah, when the bitcoin price is increasing, I think bitcoin transaction fee will increase. That's normal.
Ethereum too.
Those coins are very high transaction fee.
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Bitcoin is a great coin and this time so many peoples will start trading in this coin and they make good money through this coin easily and also so many investors will hold their coins and they sell it when the coin price go high and in future the fee will be low.
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when the price of bitcoin continues to increase in price then there are some fees in bitcoin that may still be cheap, but in general the price usually goes up then the transaction fee will follow the selling value of bitcoin, if you don't want to incur expensive fees to make transactions using bitcoin then you can use an altcoin that has low cost and high speed.
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when the price of bitcoin continues to increase in price then there are some fees in bitcoin that may still be cheap, but in general the price usually goes up then the transaction fee will follow the selling value of bitcoin, if you don't want to incur expensive fees to make transactions using bitcoin then you can use an altcoin that has low cost and high speed.
Yeah I agree with you that the prices of bitcoin highly fluctuate but being a merchant my most of the customers still prefer to pay in BTCs because with my capital wallet payment gateway the transaction fees is quite low and also offers better speed.
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I think this is an important issue for the future of cryptocurrencies, from the factor of the cost of gas used to make transactions such as bitcoin, ethereum and other blockchain networks, because over time the selling value of coins soars and can make the price expensive including the cost of gas used to make transactions.
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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?
It's the problem for us.
Trader and investors can't do transaction because high gas fee.
Hopefully bitcoin fee will lower, but it seems impossible
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My favorite project is MetaverseMe, because it mixes past, present, and even future technology:). Despite the fact that it will take extra time, I believe it is necessary, and it will be added to my operation's to-do list.
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Bitay has the potential to be great, but they need to strengthen their portfolio and attract much more investor interest. I feel there is no reason for them to fail if they take the proper procedures.
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I'm a student who used my pocket money to invest in Bitay. I'd want to put my money in a local coin that I've been using alongside BTC and ETH. The watch and win function also makes it extremely simple to earn a local currency.
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Gaming projects are incredibly popular right now, and if BitBrawl can reach its full potential, they will certainly take part. There's a chance to get a big slice of the pie, and I don't think SOL projects will pass it up.
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The reality is that as BTC price goes high, so as the transaction fees unless when we are using the Lightning Network. In El Salvador, when Nayib Bukele announced that Bitcoin is a legal tender, I believe that businesses are using the Lightning Network in order not for the customers to wait long minutes to get their transactions confirmed. However, fees still exist in the Lightning Network.
Hopefully that one day at least we could see BTC having a fixed low transaction fee rather than just relying on the blockchain network's condition. As long it remains as proof-of-work (PoW) concept, it's now impossible to make the fees lower. If it does under PoW, most likely the transaction will fail.
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Its not looking good for time bitcoin pumping fees will go high may be in future fees can low in future I think this next 1 or 3 month fees can be low we should wait for it.
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It is obvious that during the Bitcoin pump, there is sure to be increase in transaction fees at intervals, and fees will continue to fluctuate just like some other networks are doing on the crypto market. I think the future of Bitcoin transaction fee will definitely move up or down wherever there is changes in price at certain period.
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I have transacted in Ethereum. Earlier its transaction fees used to be very low. But a few months ago, if we focus on this, then we see that its fees had gone up a lot. In this transaction was very difficult but now the fee has been reduced.
Maybe the same thing happens in bitcoin. It is difficult to say anything about this.
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I think that there is a possibility that with the release of the next fork we will get a lower transaction fee, as happened when switching from Legacy to SegWit
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I believe the gas fee for bitcoin transactions will not go down because in economic principles, if there is a shortage of supply of an item, it will have an impact on increasing the price of the item. then the transaction fees that are set will automatically increase
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I believe the gas fee for bitcoin transactions will not go down because in economic principles, if there is a shortage of supply of an item, it will have an impact on increasing the price of the item. then the transaction fees that are set will automatically increase
Anything can happen at crypto currency , I believe bitcoin transaction fee will down.
But it depends on the progress of bitcoin at market.
If bitcoin price goes up, we all know transaction fee will up.
Almost all of investors complaint about ERC20 transaction fee, It's also so high.
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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?
We all know the transaction fee is always depending on traffic and the price of bitcoin.
At bearish when the trading volume go down, I think transaction fee will go down.
That's my opinion.
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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 ??
I think transaction fee is impossible to reduction , because we all see Ethereum 2.0 has been launched but didn't solve the gas fee problem.
yeah, You're right gas fee is depending on bitcoin price.
that's the fact
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With the power and popularity of Lightning Network, BTC transaction costs can drop to as little as 0.01-0.1 USD in the future and we will no longer need to pay so much BTC for daily transactions. If BTC becomes the official currency in the world, Lightning Network is the only solution that meets the requirements: fast, cheap, convenient and easy to use.
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Now bitcoin transaction fee is lower than before when I did first bitcoin transaction it used to cost $8 This time when I transferred bitcoin the transaction fee was only $0.26 which is an improvement step.