Quote from: YOSHIE on January 03, 2024, 02:03:53 PM

Quote from: Agbamoni on December 30, 2023, 11:27:24 AM

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've seen and read several outside sources related to Bitcoin fees lately, many of them are complaining about Bitcoin fees, For this reason, many businesses that implement Bitcoin payment features are currently switching to the USDT payment method, there is no other way than for users/customers who make Bitcoin payments to have to switch to USDT at this time, waiting for Bitcoin transaction fees to stabilize.

Yes, moving to another cryptocurrency payment option is not a bad business idea. Since transaction should not seem to occur. There must be a means for making payment if the hike of bitcoin fees does not seem to subside. USDT, ETH and TRX have been a common alternative in making payment for business that accept cryptocurrencies. Although Bitcoin have been the most trustworthy and one people believe in. Why they use the alternative they still keep their eyes on Bitcoin to know when the fees will go down, so that they can go back to using it.

Quote from: YOSHIE on January 03, 2024, 02:03:53 PM

Quote from: Agbamoni on December 30, 2023, 11:27:24 AM

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.

However, there is also quite a bit of speculation that suggests Bitcoin fees will take a long time to return to their previous stability,

Indeed, it was a speculation because currently fees are a bit normal now. And confirmations do not take long anymore. This made me to conclude it was because of the festive and celebration period that made the fees high. Now it is over Bitcoin transactions fees are returning to normal. Am glad i didn't take a long time so we can now send and receive payment without time delay.s

Quote from: YOSHIE on January 03, 2024, 02:03:53 PM

Quote from: Agbamoni on December 30, 2023, 11:27:24 AM

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.

perhaps this is one of the challenges to Bitcoin with high transaction fees, just hope that in the future everything can return to normal, if not maybe many businesses will switch to other types of crypto payments.

Don't make it sound like it is a characteristic of the Bitcoin network. High transaction fess happens occasionally and unexpected but not regularly thing. Yes, it has affected businesses and cryptocurrency projects but now we have seen the end of it. I pray it doesn't come up again. Although we cannot predict if it will occur again or not. If it does, am glad we have alternatives and so businesses have a solution.

Quote from: The Sceptical Chymist on December 31, 2023, 05:36:24 AM

Quote from: Sexylizzy2813 on December 31, 2023, 03:43:32 AM

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I'm going to scan the rest of this thread to see if there's a solid answer to that, as I've been wondering about the cause ever since the first time I saw the network super-congested with fees sky-high. I've always chalked it up to high volume during times of price volatility, like during bull markets with severe dips and such. Usually fees don't jump to the roof when the price falls (though I could be mistaken on that), so I'm puzzled.

But either way I'm so fakkin' tired of this shit. You can't send $25 worth of bitcoin without paying nearly half of that in network fees in order to get your transaction confirmed in a reasonable amount of time. It's crazy.

Buddy, i hope you have seen a response that have given a well constructive and structured answer to what you want to find out in this thread. ?

Transaction fees are normal now, and lots of speculations here said it was because of the Christmas and New Year season that has caused the hike, However, i dont totally believe them but they have a valid point. So from your own observations what do you think was the cause?