Post
Topic
Board Development & Technical Discussion
Re: Bitcoin Fees - $59! Holy shit!
by
aardvark15
on 10/10/2017, 20:22:18 UTC
Just watched a vid on Youtube posted yesterday by Rover Ver. He said that it cost him $59 to send Bitcoin. Jesus Christ, that's bloody ridiculous! Those miners are incredibly greedy and will send Bitcoin to the ground if that's the case. Who the hell is going to use Bitcoin for everyday transactions when it costs you $59 to buy a pack of chewing gum? Imagine going to buy a cup of coffee and you need to wait a few hours before the retailer can confirm your payment went through before they let you out of the shop.

The amount of the transaction must have been big but I've also noticed that if the Bitcoin you are moving comes from an address that received a bunch of small amounts that you are now sending as one transaction, the fees also get higher.

Fees for Bitcoins could be a problem in the future and will prevent it from being used for small transactions. Bitcoin will most likely be used for large transactions and a store of value.

There will be other altcoins that will take over for the small transactions. My guess is that Iota with no transaction fees will be used for micropayments and tips, etc.