Ninjastic
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Board Bitcoin Discussion
Re: It is pointless if the BTC fees increases along with rise in BTC price!
by
TGD
on 28/12/2020, 01:16:45 UTC
Quote from: dansus021 on Today at 01:10:34 AM
Quote from: Charles-Tim on December 27, 2020, 08:39:28 AM
Quote from: so98nn on December 27, 2020, 08:35:13 AM
I have observed many times whenever there is rise in the price it will proportionally increase the fees as well. BTC becomes useless if I want transfer my coffee bill worth $5 or lets say lunch of $50 bucks if I have to pay more than 10-15 USD for single transaction.
That is the reason for bitcoin lightning network, bitcoin lightning network transaction fee is very negligible, for now, it is as low as $0.00005 or lower. For making small transactions and for everyday transactions that require low amount, people will not have any option later than to resort to bitcoin lightning network which has low transaction fee.

Do not just think that bitcoin is just only a money, it is also an asset.

I heard of it about the lightning network its very helpful when bitcoin fee right now when bitcoin reach new ATH "WHALES"/investor that hold much bitcoin start to transferring their Bitcoin to an exchange.

and i have an idea why company like paypal offer payment from user to user its more cheaper right

They are using internal transfer so it has no fee or minimal fee at all. The problem was your BTC there can't be transfer outside there wallet so it's just a coin representing BTC itself. It's good for short trading purposes only but if you want to use it for long term investment, buying there coin is not a good idea because you don't full control of your asset and not all user have PayPal.