Hi,
Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!
What went wrong> And more to the point, who is responsible? What can be done to fix it?
Thanks
Andy
How is bitcoin not peer to peer even if the fees are higher? it's peer to peer, just rich peer to rich peer.
If we want to solve this situation, we need segwit, then lightning networks.
Onchain transactions will always be expensive for small transactions. If we want to get everyone on board, again, segwit + lightning network is the way to go.