Quote from: jtipt on November 28, 2017, 03:21:38 AM

Quote from: Bitophile on November 27, 2017, 11:54:18 PM

As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.

I think that's unlikely, fees are mostly depending on the congestion of the network. On a bad day when everyone was selling/buying bitcoin the fees were as high as 800sat/byte but on a normal day an 100 sat/byte has became the normal fee. I don't think it will decrease more than that.

That's right. the fee affected by how crowded the network is, sometimes people want their transaction to be ahead and always setting the most higher fee, if so many people do that, the recommendation fee will simply increase and unstabilize the ecosystem. just see when bitcoin pumped, the network will get crowded and there'll be so many unconfirmed transaction.