Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Transaction fees rise by 590 Percent.
by
fiulpro
on 30/07/2020, 13:51:58 UTC
Along with the increase in BTC price, transaction fees also spiked Embarrassed In recent days, bitcoin had a bullish rally which lifted prices above 11000 at the time of recording. The transaction fees of bitcoin also moved up to heights with a spike of nearly 590 percent. What is the reason behind this? Click to know more
https://coinpedia.org/news/bitcoin-transaction-fees-surges-590-percent-heres-what-can-help-it-save/
Whenever we are talking about the transaction fee of Bitcoins , it's never intended to be taken in USD or some fixed Fiat Currency.
The wallet companies specifically use some amount in BTC , which is more or so reasonable because this is the only way for most of the small miners to make money .
I do think if the price of Bitcoins was really low around 5000 USD , no one would complain about it . But then again this unreasonable fee can be changed if the company wants but we did not see any of this happening even when the Bitcoins was at all time high .

We need to learn to live with it- 1st option
We need to do some modifications in the lightning network, to make it more safer-2nd option
Maybe we can in the future expect some other network similar to the lightning network-3rd option

It will take time for this fee to normalize , till then you can try using a mobile wallet with inbuilt lightning network.