Post
Topic
Board Bitcoin Discussion
Re: future bitcoin transaction fees
by
m.mendoza
on 04/07/2018, 06:07:29 UTC
No less transaction fees, but we also found that the time to confirm the transaction is much faster than 2017. In 2017 it took me nearly 1 hour to send 1 btc but now it is different. This is due to changing the way the new btc block chain works in September and 11/2017.

that is wrong. nothing about how bitcoin blockchain and confirmation time works have changed. it is the same exact thing as 2009 when the first block was found. we are having 2016 blocks per 2 weeks which is approximately 1 block per 10 minutes.

you pay a fee from 0 to any amount that is standard and the miners seeing your transaction can choose to pick it up and include it in the next block they find or  choose to ignore it.
during a couple of months of 2017 there were more transactions than there was block size so a fee war/competition started where you had to pay a higher fee so that the miners don't ignore your transaction.



There is a possibility to go back to high fee when the price do good in the market which make you to get high amount of earning to used the fee worth. I think that when the market will again recover this rate won’t get high anymore it will be in a constant position