Post
Topic
Board Bitcoin Discussion
Re: Reduced transaction fees
by
VitKoyn
on 28/11/2017, 04:25:01 UTC
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.
If you use Bitcoin wallet that uses Segwit addresses it significantly reduces confirmation times and it can also help reduce transaction fees. But the problem is there are only few Bitcoin wallet that uses Segwit features right now like Trezor and Ledger nano s, while blockchain.info will implement it next year. The other solution on this scaling problem is Lightning network that uses off-chain protocol, it is still under development and when Bitcoin developers finds a way to make it compatible to Bitcoin network and successfully implemented it will surely solve high transaction fees and confirmation delays. Btw adding more miners will not solve this problem.