Post
Topic
Board Bitcoin Discussion
Re: Excessive Bitcoin fees
by
Z-tight
on 12/04/2024, 17:56:55 UTC
So then
is the whole point of Bitcoin now trading for local currency on exchange, not p2p transactions?
BTC is p2p electronic cash, whether you send it with a high or low tx fee, as long as you do not use centralized services that act as a third party in the trade, then it is a p2p tx. However, i cannot deny that spending BTC on 'cheap' goods or services is almost impossible when tx fees are high, but if you are making cross-border payments or sending a large amount in BTC, then it is great. Take note that tx fees is not always high and we used to make tx's with ~ 1 sat/vbte before and if the network is not congested, tx fee can fall to that level.