Quote from: SiDtHeBeSt on February 23, 2018, 04:10:33 AM

Quote from: TheBartender on February 23, 2018, 01:35:58 AM

Not sure how many people noticed but the cost of sending BitCoin has dropped significantly of late. One of the biggest complaints about BitCoin vs altcoins is the speed in the cost. Lightning is supposed to solve the speed issue and it appears that the cost issue isn't so much of a problem these days.

The average cost was about $26 but now it's down to about $3.

My question is what effect do you think this will have on altcoins? In my view, this makes BitCoin more attractive. And secondly, does anyone believe this is a long-term change (the drop in price) or is this merely temporary?

Yeah, the fees has surely dropped alot, which might make bitcoin more attractive and invite more number of investors. But, the fees might go high again in the times of high traffic. I saw the fees went down a few days ago when bitcoin's price had become a bit more stable and had stopped dropping down further, but as soon as it dropped a little bit more the fees were high again. So, I think this might be a temporary thing as there is not much of a traffic.

Quote from: jtipt on February 23, 2018, 03:30:27 AM

Quote from: TheBartender on February 23, 2018, 01:35:58 AM

And secondly, does anyone believe this is a long-term change (the drop in price) or is this merely temporary?

It's temporary. It may last for long, even several months but it's always temporary. If we see another bull. Run to $20k the transactions will increase along with that, and mempool will become congested again. Right now there are very few transactions compared to what it was 1-2 months ago. This is the primary reason for the drop in fees, while yes segwit helped a lot but still segwit adoption is way too less.

Exactly, if bitcoins go as high as 20k USD again, definitely alot of transactions would be made and it would cause congestion, which would result in higher fees again.

certainly so. The higher the bitcoin cost, the higher the transaction fee. In addition, the transaction time will be significantly longer. However, we can buy bitcoin at a low price and sell high. If your profit is $ 10000 then the $ 26 fee for the transaction will not be a problem. So it is important that we make a lot of money from investing. We will not have to worry about transaction fees.