Post
Topic
Board Bitcoin Discussion
Re: Transaction fee has gone up by 10x during the last two weeks
by
Khaos77
on 17/05/2019, 18:25:48 UTC
The network congestion cannot be controlled right? Unfortunately, bitcoin wasn't developed to solve this problem particularly.

Hmm, No.

Sure it could, increasing blocksize to a mere 8mb or changing blockspeed to 2.5 minutes would dramatically increase the onchain transaction capacity.

Before the LN hype for offchain banking, something sensible like the above would have been done.

Bitcoin does not need to match visa, it only needs to be able to handle it current requirements, of which fees increase because of devs refusing to upgrade the onchain system.

Instead of bitching about the fees, You should be bitching about why the core devs never improved the onchain capacity. Tongue
Fees are going to go up over time, because the onchain capacity is limited, with no plans to improve it , not even on a gradual basis.

Within 3 years, expect fees of $20 to be low and $80 to be normal.