Will Bitcoin fees be too high in the future?

[DareIsrael]

From my perspective, I feel it will go higher in future and may experience decrease at some point but not a drastic decrease. As exchange rate has increased over time. It will surely increase in future....

Yeah I agree with you. There will come a time that Bitcoin will become very high but at no point will it become impossible for people to invest in. It is predicted that Bitcoin will exceed the $50000 Mark the year

 

[Sammyesx]

From all indication, it seems the price of bitcoin will continue to rise, because so many are getting involve in the trade, the more people making transactions with the more the value and In a few years the price might become outrageous

 

[DareIsrael]

The beginning of 2021 gave a lot of all-time-high maximums for a number of cryptocurrencies, that in turn led to a series of positive forecasts for 2021. So, for example:

Citi analysts predict the price of Bitcoin at the level of $300,000 at the end of 2021. Although JPMorgan does not give exact numbers, it confirms that Bitcoin has the potential for further growth, as it competes with gold as an alternative means for storing capital.

 

[Sammyesx]

Bitcoin and other altcoin will be high in the future as long as the price of the coin is going up. In the crypto currency exchange Business I think the transaction fee of the coin you are selling is dependent on the price of the coin you are selling in your PLATFORM

This is a good new for Investors that are investing long term, it only means they will have a very big profit in the future. I have a feeling that a time will come when because of the increase in price it might cause a corresponding decrease in the value of the dollar

 

[Tinaconcept]

The rise of bitcoin transaction fee keeps getting high and higher but I hope that after the cryptocurrency renovations that the transaction fees will be reduced because among everything one of the disadvantage of bitcoin or other alttcoins is the fact that its high.

 

[Azhar119]

Bitcoin's fees aren't static. They dynamically change depending on current network conditions. Since Fiat is the unit of account that determines Bitcoin's price on the market, fees in BTC relative to Fiat (USD, EUR, etc.) are high. But if everyone started to value things based on BTC itself, then it wouldn't look that way. Like it or not, it's the way the Bitcoin blockchain works. If it wasn't because of the high fees, Bitcoin wouldn't be as secure as it is today.

 

[Alexandoy]

As a learner of Bitcoin my opinion on the increasing fees is the popularity. When a commodity has a very high demand the tendency is to increase not only the market price but also other things that are related to the said commodity. With Bitcoin mining there will also be an increase so miners will rejoice if the mining fee will be higher. With the service fee charged by digital wallets I guess Bitcoin users will be shifting to Paypal and other digital wallet.

 

[grabthe.com]

IMO they are already too high! And once they are all gone they will make the fees even higher

 

[Lagazine]

This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $10. Afterlots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $20 or more for a transaction. Even paypal and payeer doesn't charge that much.

No matter how bad the world economy is, bitcoin price will continue to rise against fiat currency. I predict this because of the rate at which people welcome the crypto coins. The coins was less than $100 a decade ago, it's now worth $33k which is a crazy rate of increase in price. So, with such increase rates, the coin is still going places.
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This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $10. Afterlots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $20 or more for a transaction. Even paypal and payeer doesn't charge that much.

No matter how bad the world economy is, bitcoin price will continue to rise against fiat currency. I predict this because of the rate at which people welcome the crypto coins. The coins was less than $100 a decade ago, it's now worth $33k which is a crazy rate of increase in price. So, with such increase rates, the coin is still going places.

 

[Goodday]

This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $10. Afterlots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $20 or more for a transaction. Even paypal and payeer doesn't charge that much.

You are right, brother. I have the same feelings about bitcoin but this is something hard to answer. The transaction fees may go up but it may not be too high in such a way that you will spend almost $20 for transacting $70 in bitcoin. Currently, I think the minimum ethereum transaction fee you can pay is $10 and many traders have made a lot of losses through transacting ethereum.

 

[chicnthin]

There's a high possibility that bitcoin will have a higher transaction fee among with other cryptocurrency. As the price of bitcoin increase over time, the transaction fee will increase as well. But I hope it won't be too high.

 

[Sake]

I think they will be able to fix the transaction fees problem when the bitcoin's price is more stable than it is today.. if the fees goes above $20 that would throw small investors off and only the riches will remain but was that enough? I believe that the demand in the future will be much more so im expecting a huge improvement on the price.

 

[mcjerry]

The high in bitcoin transfer fee is because of the high price. It will reduce when it the price is stable. We will also experience higher fee than this in years to come that the price of bitcoin will go higher than this current price. So we should all be expecting that

 

[greenie]

bitcoin may increase in the future but you may risk decreasing, which is not so ok. but each with his own opinion. I think it will grow. but I can't say whether to invest in it or not ...

 

[Adetayo100]

Because Bitcoin is so powerful and has so much potential, Bitcoin's projected value and estimated growth could be astronomical. Crypto analysts and industry experts suggests that Bitcoin's long term value could reach over $100,000 to as much as one million dollars per BTC in the future.

 

[Shahzad Ahmad]

It may actually make this time different, however, isn't that Bitcoin prices hit new highs in 2020 and finished the year with a head of steam. It's that the cryptocurrency succeeded in its first trial by fire. As Bitcoin prices recovered from a multiyear slump in 2020. It breached its 2017 record near $20,000 in November. So I think future will be bright.

 

[Odebunmi ajewamiri]

Will Bitcoin fees be too high in the future?​

Bitcoin as proven it self in market of crypto currency and the more people embrace it would surely become higher in future and this would also trigger or increase cyber crime.
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Will Bitcoin fees be too high in the future?​

Bitcoin as proven it self in market of crypto currency and the more people embrace it would surely become higher in future and this would also trigger or increase cyber crime.

 

[Blessedsam60]

We can't actually say that the transaction fee will increase later as we can see the same ups and downs in the crytocurrency world.
The fee might increase in the future due to some factors which is very obvious it might happen.

 

[Herzhan]

This is the chart of Bitcoin's Avg. Transaction fee: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

Right now the median fee is about $10. Afterlots of halvings the reward won't be enough to satisfy the miners. I guess that after a decade, bitcoin will be more widespread, as a result, more transactions will occur every second. Won't this increase the median fee? If it does, bitcoin will start being a not-so medium of exchange. Imagine paying $20 or more for a transaction. Even paypal and payeer doesn't charge that much.

It's obvious. It will increase in as much as Bitcoin itself is increasing. The more the Bitcoin is increasing the more the charges will be increased. It's vice versa. It increases when Bitcoin increase. The transactions fee e
will reduce once Bitcoin low in price

 

[Shivay]

It's obvious. It will increase in as much as Bitcoin itself is increasing. The more the Bitcoin is increasing the more the charges will be increased. It's vice versa. It increases when Bitcoin increase. The transactions fee e
will reduce once Bitcoin low in price

If this goes on then definitely , the fees can even go to 20 dollars or more also and also who knows that when government officially adopt it , they may impose taxes on it too.