The future of Bitcoin Transaction fee?

[LeVi]

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.

[bitbit97]

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.

[Bobcrypto]

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.

[pelana vreo]

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

[bmw1]

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.

[damsix]

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.

[Power420]

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.

[lepbagong]

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.

[IyemRoker]

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.

[Newron]

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.

[Carbitcoin]

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.

[Crypto_Somrat]

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.

[Irfan12@]

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.

[CriptoLH]

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 .

[pacar_tiri]

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