Quote from: breathlessz on June 23, 2019, 02:30:23 PM

Quote from: Thanasis on June 23, 2019, 09:22:15 AM

Quote from: whyrqa-1 on June 22, 2019, 07:42:02 PM

Quote from: Betwrong on June 22, 2019, 10:53:23 AM

Quote from: nightways on June 21, 2019, 08:31:11 AM

I always think about that sometimes. There are times I even feel like I don't want the price of Bitcoin to increase just because of the transaction fees, I know what I had to pay for transaction back in 2017 when there was a bull run and the price was very high. In times like that, Litecoin seems to be a better option than Bitcoin cause the transaction cost is always cheap. There are other coins that has cheap transaction cost also, but I prefer Litecoin and it is one of the top coins in the market. They really need to find a way to fix the high transaction cost issue, if possible.

It's not that transaction fees depend on BTC price like you think. First of, in 2017 the Bitcoin network was spammed intentionally to make Bitcoin look like it's unusable. I mean, even then transaction fees should not be that high. Secondly, today we have almost the same number of transactions per day, and yet the transaction fees are much smaller: around $2.50 for a fast transaction, compared to $30-$50 back then.

Of course there is a minimum rate for transaction fees. But you still have to take into account the fact that who the owner of the cryptocurrency who performs the transfer, specifically raises the price per transaction, so that his transactions are carried out first. And therefore, the price growth ladder is carried out one by one.

If someone increase the transaction fee then it would get priority and will confirmed first but normal people will try to keep the fee as low as possible some if someone or few trying to increase it won't even last long for a day.

right, they will be able to measure the transaction costs that are appropriate for themselves. by choosing the lowest transaction costs, you will be able to measure the time required

Always use recommended fee if your wallet have such feature or just see what can be the best recommended and priority fee for the coin you are transacting and then initiate your transaction.