We all know that recently, a huge backlog of transaction of at least 50,000 at any point of time.
And one of the solution is to increase the transaction fee. Which defeat the purpose of micro-transaction
with bitcoin.
Is this the miners fault alone? Who do you think need to step up to stop this madness
of increasing transaction fees?
What's your thought about it?
Its all occuring due to the limited block size and increased transactions.This issue of increasing the block size has to be solved between westerners and chinese miners.Bitcoin has progressed today very big and transactions have increased high in number and we have to believe , still only 7 transactions are performed each second. Its terribly low for such a big growing bitcoin community.When there are lots of transactions waiting, priority is only given to transactions which offer high fees.Its not good for bitcoin progress.