Post
Topic
Board Bitcoin Discussion
Re: Reduced transaction fees
by
stompix
on 28/11/2017, 21:29:11 UTC
Bitcoin Fee always rises even 10-fold, due to the Bitcoin price and slow Block transaction so it takes a long transaction time for each Bitcoin shipment. So the cost of fuel that we spend more because of the long journey that we travel. Smiley

Bitcoin fees don't rise or do not fall following the bitcoin price.
We gad higher fees in terms of USD when BTC was at around 3k than when it was at 8k

The fees are always determined by the number of transactions that wait to be included in the blocks and the willingness to pay a larger fee.
Demand and offer for the space in the block. Simple as that.
The price per coin is irrelevant.

There is no absolute way to get over the fees as it's the miners who control them and they don't care for end users,

Miners don't control fees.
Probably you have no idea how the whole thing works so better shut up that giving wrong advice and causing misunderstandings.
The ones that decide how much are they willing to pay are the users. Even the spammers of the chain have this possibility , they can check how much they want pay for each kb they spam the chain.
If nobody will pay more than 10satoshi/b miners will create 1mb blocks with 10sat/b transactions.
If we all decide it is worth paying 4000sat/b , then that will be the new average fee.