Post
Topic
Board Bitcoin Discussion
Re: WOW- Bitcoin Fees AREN'T Too High Anymore
by
30Burger
on 18/02/2018, 19:23:19 UTC
There's just so much FUD being spread around this forum and so few users who actually take the time to educate themselves.  All this does is un-arm yourself to be able to fight back again the worthless FUD.  If you're a bitcoin supporter than do your homework and educate yourself so that you can help stop the many bitcoin misconceptions.  

Everyone should be aware that the Lighting Network has been implemented. While the process will take a little time, it's off to a great start (If you're unaware of the L.N. , how it works, or need further clarification please read this short article - https://medium.com/@melik_87377/lightning-network-enables-unicast-transactions-in-bitcoin-lightning-is-bitcoins-tcp-ip-stack-8ec1d42c14f5).

One of the last blocks mined- (Block #509796) -minimum fee paid was 2.77 sat/Byte. This represents a fee of around BTC0.000005 ($0.05) for an average sized transaction.

Fee Chart:
https://i.imgur.com/v3tbCRb.jpg


Once the L.N. is up and running, when all wallets add it to their platform (as well as the likes of SegWit)..things will be that much brighter for an already improved bitcoin platform.  

If you want to truly learn more about BTC and educate yourself- you'll find no better youtube channel that this one: https://www.youtube.com/channel/UCJWCJCWOxBYSi5DhCieLOLQ

Good to know.  I stopped doing Bitcoin transactions because they were so high.  I preferred Litecoin TBH.  I'm going to give it a go next time and see what my fees are like.