Post
Topic
Board Speculation
Re: High transaction fees affects buyers and seller in payment in bitcoin
by
Jating
on 30/12/2023, 20:45:17 UTC
We all know that Bitcoin is used for making payments. So, people who buy uses bitcoin to send payment and those who sell uses it to receive payment from anywhere in the word. But the situation of high transaction fees is affecting buyers and sellers. They are now looking for an alternative to make payment instead of using bitcoin. Another thing is that if transaction is made, sellers will have to wait for long to receive payment and no seller wants that kind of delay in his/her business.

Do you think there is a solution to this, or B2B and P2B, business that uses bitcoin should find another alternative to payment method instead of Bitcoin?

For those who are into business that make use of bitcoin, how do you harness this situation of high transaction fess to not affect your business and customers? So that others will learn from your tips.

I think LN is the answer for those stores and it has been proven already. But as far as online goes, I do agree with the current fees, you don't expect someone to buy using their bitcoin specially that it was initially design for "micropayments", the mempool is congested because of BRC-20 ordinals that everyone is really affected and suffering.

As far as I know there was a proposal, anyways, it's beyond us for now, the devs or who is involved should debate whether they will implement it or not.

Or course, those businesses have options to used other cryptos, but it will defeat the purpose of bitcoin being that supposedly coin to handle that.