Quote from: BlackHatCoiner on June 27, 2024, 02:10:44 PM

Quote from: pooya87 on June 27, 2024, 12:30:32 PM

2) Their prices are far lower than bitcoin so what you pay in fiat terms appear lower.

I don't think this has anything to do with it. In your example, you used an arbitrary number (0.0001) as a transaction fee, but if there is no competition, then no matter how much 1 ALT unit costs, the user can divide it into smaller pieces in case 0.0001 is expensive. In 2014, you'd be paying more than 0.001 BTC as a transaction fee. Ten years later, you'd pay less than 5% of that.

Lets not forget that Litecoin, like many other altcoins, is a copy of Bitcoin so it is performing exactly as Bitcoin. Litecoin is currently worth far less than what bitcoin was worth in 2014 and yet it is using the same fee mechanism as Bitcoin. The min fee is 1 sat/vb and it spikes just the same if its usage grows.