Post
Topic
Board Development & Technical Discussion
Re: Bitcoin cannot survive on transaction fees alone so why do we even bother?
by
Hariz
on 19/12/2017, 08:05:53 UTC
This sure is an issue. The high fees has been driving many Bitcoin investors to cause problems in payments. Bitcoin's purpose itself was to be used to make peer to peer transactions and remove the traditional banking system. But the congested network and high fees for the miners has made it completely opposite. The high fees is too much since the transfer through traditional banking is way cheaper than BTC. The delayed confirmations is also an issue when compared to net transfers through banks are way more faster. Until Bitcoin doesn't solve these issues Bitcoin cant rise successfully and will eventually go down.

+1 - Until the high fee and network congestion issues are solved, this is no different than a traditional bank. The whole point of a virtual currency is dissolved by these hurdles. If the core team doesn't act quick, its not far before LTC/XRP take over the market with their super fast network.