I think the reason why Bitcoin transaction fees are so high is because the coin is of high value so they charge according to the value
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One of the reason from my observations about the high cost of transaction fee in bitcoin is because of the value of bitcoin in the market,and it has a huge volume of trade in the cryptocurency market.Today i wanted to send my payeer Bitcoin to my luno account. The transaction fee to be exacted for processing it, is 65k satoshis. Even more than what I'm supposed to transfer, meaning I need to add up to process that transaction. I had to abandon my coins in the payeer platform. Cos I can't afford to pay such high transaction fee. I really don't know why the transaction fee is different from other coins.
What really made Bitcoin transaction fee to be so high? even when the price is going down, the transaction fees keeps topping up.
Did you get the news that, BTC is more valuable in marketcap then Facebook st the current? It is now very much in-demand now, even when others are still feeling disillusioned around it.One of the reason from my observations about the high cost of transaction fee in bitcoin is because of the value of bitcoin in the market,and it has a huge volume of trade in the cryptocurency market.
This is really a good development about the value in the bitcoin cryptocurency.I know that a lot of persons would have been frightened by the decision taken by china.But bitcoin still bounced back.Did you get the news that, BTC is more valuable in marketcap then Facebook st the current? It is now very much in-demand now, even when others are still feeling disillusioned around it.
Lots of persons where frightened when Chinese government banned BTC activities in the country. But here today, BTC is moving up, and it has crossed $50,000.This is really a good development about the value in the bitcoin cryptocurency.I know that a lot of persons would have been frightened by the decision taken by china.But bitcoin still bounced back.
Yes all these things was just to make the price of bitcoins to go lower so that a lot of whales investors in the crypto space can have an opportunity to buy it at the lowest price as possible. All these things are done to frustrate smaller investorsLots of persons where frightened when Chinese government banned BTC activities in the country. But here today, BTC is moving up, and it has crossed $50,000.