Hi,
Even just a year ago bitcoin was useable... now the fees are about 10x what the banks charge. Seems like its changing from a peer-to-peer money system for everyone into yet another convenient way for rich people to exchange funds!
What went wrong> And more to the point, who is responsible? What can be done to fix it?
Thanks
Andy
The fees must be increasing along with its price. And since Bitcoin has reached to a much higher price from a year ago, you must also expect that the fees will also be moving along. I guess there are certain transactions wherein a specific percentage is being charged as fee. There are also others that charge a specific Bitcoin amount. Either way, it would be a lot wiser if you transact with large amounts rather than small ones.