Quote from: Synchronice on April 12, 2024, 01:55:57 PM

Quote from: Iranus on April 12, 2024, 08:33:13 AM

Have you tried checking bitcoin's transaction fees today and if I remember correctly the transaction fees are around 40$ per transaction?

No way, transaction fees weren't that high today, during the time I posted, it was around 6-7 dollars but just right now it's up to $20 based on average native segwit transaction of 140 sat/vByte.
$40 is also still affordable for some people. If transaction fees $100 or something like that and will stay that way for more than two weeks, I think then there will be a major decision made about Bitcoin's block size or other solutions but I think that people just move on altcoins and don't use Bitcoin for daily transactions.

Bitcoin transaction fees are even more volatile than bitcoin prices, LOL. If you only make transactions every few months or you are investing in bitcoin with capital of a few hundred thousand dollars and a few million dollars, then a fee of $40-50 is an affordable and insignificant price. But for those who only invest a few thousand USD or make many transactions every day, it is not as small as you think, even spending 4 USD per transaction is a problem for many people, not to mention higher.

There is no need to wait for bitcoin transaction fees to increase to $100 for people to switch to altcoins, many have already done this.