Post
Topic
Board Bitcoin Discussion
Re: Bitcoin can't be used for transactions?
by
avikz
on 24/02/2021, 11:21:36 UTC
From what I've read, Bitcoin now charges high transaction fee and long transaction wait time so it can't presently be used:

a) for a conversion from Bitcoin to cash?
or b) purchases using Bitcoin? Huh

No system can be flawless and bitcoin is no exception! So the fees and waiting time are real challenges at this moment. And the fees is expected to go up in case the price goes up further. So we have something called lightening network. Which is a side chain transaction Facilitator and where you can send bitcoins using low fees and the transactions are usually instant.

I think, people should start using LN more and more now because of these challenges! Otherwise, you will have to constantly look at the mempool volume and time your transaction for the optimum period.