Post
Topic
Board Development & Technical Discussion
Re: Transaction Cost Problem
by
pawanjain
on 12/12/2017, 13:05:30 UTC
The current satoshis needed per byte to make a normal transaction successful is around 293 which give around $10 for an average transaction.
The high fee is an issue which everybody is pissed of. Bitcoin is not meant for any micro payments at the moment. Although it will be done in the future with the help of the lightning network it is just a waste of money to spend high fees on micro transactions. It is better to avoid small transactions and just hold the BTC until the lightning network is fully established. The development is going with a successful testing recently. I think people should stand together and join hands towards the development of BTC. Why should just a small group of people do all the hardwork and let the other enjoy it's benefits.