Post
Topic
Board Bitcoin Discussion
Re: Bitcoin transaction fees are too high, obstacle for adoption and in general
by
Ojima-ojo
on 04/06/2023, 11:46:39 UTC
Hi,

I just wanted to share my thoughts about the high Bitcoin transaction fees.

I see people paying USD 10 for an item, and then paying USD 30 in fee for the BTC transaction, and I realize that this is not sustainable. And its impossible for BTC to become a mainstream payment method if the price is increased with x3 when you buy something.
If you end up paying such a high amount on fee for such a small transaction in Bitcoin, then is definitely the platform that adds additional fees for processing the transaction because Bitcoin transaction fees shouldn't be more than $3 for such an amount, even when the network is mostly contested.

Talking about the issue with Bitcoin network congestion that pushes out high fees, it is not a new thing while some are natural other are attacks on the networks but the good thing is that, it doesn't last for long before it will get resolved and feel back to normal.