Post
Topic
Board Bitcoin Discussion
Re: btc transaction fee is way too much and btc transactions are way too slow
by
Jstandhope
on 25/09/2020, 16:08:21 UTC
so who and when will solve that problem?
btc transaction fees are way too high!
btc transactions are way too slow!
as im the big fan of fiat money and banks and reason for that becouse i make my transaction with online bank much faster to same bank and with much less fees then  i do it with cryptocurrency.



the cost of something what is so hovest should be cheap as possible is way too high and ethereum is expensive too but at least eth transactions are much more faster so you get what you pay for at least but bitcoin it need to improve much more

Ways to reduce the fees were already mentioned, and I also want to point out that you should put the fees into perspective. If you compare a Bitcoin transaction with PayPass, then it's taking too long and is costly. But compared with international banking transfers, it's faster and cheaper. The transaction fee is also quite different in different periods of time, ranging regularly from dozens of cents to a few dollars. Moreover, the sum also matters. If you're spending 200 dollars or more, the transaction fee for BTC can be quite small in comparison, whereas it would be too high for a cup of coffee. Finally, you're right that the price and the speed compose a huge problem of Bitcoin that has to be dealt with.

Concerning what you said you are correct. I think it will be better to be used while doing international transfer and it's safer too and cheaper. Because I could remember going to one the banks and I saw the amount for transaction charges for someone who wants to send money abroad. It's a whole lot of money. For me instead of such amount I will wait for the amount of time Bitcoin will take to arrive.