Quote from: Out of mind on April 02, 2024, 03:07:07 AM

Quote from: moonie on February 12, 2024, 05:40:27 PM

What will happen when only large institutions can afford to use Bitcoin's blockchain, due to rising fees? Won't this centralize the network if most can only trade bitcoin on centralized exchanges?

Basically, in most cases we know that trading with Bitcoin is very convenient, and it is possible very fast. However, small traders face many problems due to Bitcoin's sometimes excessive transaction free. Although we are currently successful in doing transactions with very low freebies, there are times when the number of Bitcoin transactions increases significantly. This is mainly due to the pressure of Bitcoin transactions which require high transaction fees, when you deposit your funds on an exchange or transfer from there to anywhere your fees are slightly higher. However, even if it is for a temporary period, the payment system will later become accurate and complete with lower transaction fees. So no need to stress about it if you wait a BTC transaction fees will definitely come down, and currently Bitcoin transaction fees are very low.

So then
is the whole point of Bitcoin now trading for local currency on exchange, not p2p transactions?