Quote from: leonair on December 06, 2023, 02:12:38 PM

Quote from: NewRanger on December 06, 2023, 01:25:31 PM

Quote from: Z-tight on December 06, 2023, 01:09:47 PM

The high fees does not affect BTC's decentralization, what it affects is the use case of BTC as a means of payment, with the fees as high as it is now, it is almost impossible for people to use it for payments, especially micro payments. We have been discussing about ordinals and the congestion it is causing in the network, i thought it would be over by now, but i was wrong and i can't even see an end to it anytime soon. I think the only solution right now is for bitcoiners to adapt, they can use LN for micro payments or hold their coins until fee rate drops a little.

Maybe, Fee fees really depend on network density and each exchange also has different withdrawal fee policies. However, if we look at the current conditions, fee fees are only increasing. I tried to test sending BTC which was worth approximately 20 dollars if converted with the requested fee of $13.55 it's already over 50% percent and it's very unnatural. At least, like you said, hold on.

Due to the rapid rise in the price of Bitcoin, these transaction fees have also increased significantly as these fees are reduced by miners. If the price of Bitcoin struggles a bit, its fee will come down again. Now huge amount of transactions are being done due to which the transaction fee of Bitcoin is forced to increase. We have seen this happen many times before but it has come down again. It will come down again just like that, maybe it will take some time

I remember the first btc fee spike of the year was in May, mostly from Ordinal being launched and the second spike of the year was also related to Ordinal. did you realize this is very similar to ETH where the merger occurred, and now it is happening to Bitcoin which is acting differently post Ordinal. I hope this problem doesn't last long and hopefully it will return to normal. because many people tip some people in BTC and that makes it impossible/not feasible because of transaction fees.

But personally, I don't mind expensive fees because for me, don't think about what Bitcoin can do for you, but think about what you can do for Bitcoin, and what I'm doing now is Hold.