Will Bitcoin fees be too high in the future?

[Senator]

It appears to me that the higher the price worth of this Bitcoin, the bigger the transaction fee gets too. Of this continues like this, then it is also going to be true that the Bitcoin transaction fee will keep increasing with price

 

[Sincerem]

BTC transaction fees will only be high when the coin's price is again. At the moment it is on the down together with its marketcap.

 

[Hena101]

Yeah there is an increase in the price early this year which make it to be very high even that time, but things change with change in the government and also banning crypto currency in some countries this make the price to go down again but even now we wish the price will rise again.

 

[Aaron625]

The bitcoin fees is always lowering nowadays , its not $10 , is usually $2 or $3 , though the price of bitcoin is actually high at $300. I remember bitcoin fees was very high when the price was just $15k

 

[kay169]

Yes of course the price of bitcoin and other alt coins will increase though the price and state of bitcoin might be terrible now but it will increase later

 

[Justin]

Bitcoin transaction fees is the miner's fee plus fees from wallets and exchanges. Since die to the rising cost of mining, miner's fee is also increasing, thus I believe it will increase in the future.

 

[Senator]

Bitcoin fees during transaction of sending out Bitcoin will certainly become more and more expensive as the coin gets more price increase in value

 

[Grandeur]

Now that bitcoins Price has reduced due to the dip, the fees gas reduced a bit but after the bear run, Bitcoin fees might just spring back up if operations increase again.

 

[Elfinito]

I always believe so, because when all the Bitcoin has been mined and the demand is greater than the supply then Bitcoin would certainly be at a high cost

 

[tyrim88]

If you want to truly benefit from crypto currency, you will have to think about the long term investment. Short term investment will give you little profit. The best strategy to benefit from crypto currency is to hold them for at least 5-10 years. In 2015, bitcoin was $400, now it is $33K. Look at the price growth in just 5 years.

This is actually a good idea,while doing the crypto investment,but for investors that has the huge funding base and wants to benefit fromthe momentary price fluctuations and get quick returns,the could just be their own way of trading.

 

[Honny143]

If you want to truly benefit from crypto currency, you will have to think about the long term investment. Short term investment will give you little profit. The best strategy to benefit from crypto currency is to hold them for at least 5-10 years. In 2015, bitcoin was $400, now it is $33K. Look at the price growth in just 5 years.

Hold bitcoins for years really profitable deal, last few years bitcoin price increased too much, that's the reason so many rich peoples, holding their bitcoin to get good return in future.

 

[Potuse]

I do not actually know the algorithm that is behind the bitcoin transaction fee, but I believe that the transaction fee of Bitcoin should be improved upon. What I meant is that the price should go down a little bit for the comfort of the Bitcoiners.

 

[Billy]

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.

The median fee is only $10 right now, but it's not going to stay that way. You're right to think that as Bitcoin grows, there will be more transactions happening per second. That's exactly why the reward is halved every four years—to keep the same number of bitcoins being produced, but with more users trying to get their hands on them.

Once we reach a point where there are enough people using Bitcoin for it to be considered a medium of exchange, then we'll need to look at other ways to incentivize miners. One idea would be for miners to charge fees for transactions above a certain amount. For example, if you want your transaction processed within an hour, you'd have to pay a higher fee than if your transaction took two days.

 

[Bookwormlux]

I doubt if bitcoin fees would be too high in the future. Especially considering the fact that Bitcoin is gradually losing relevance these days and it's not getting so much attention again.

 

[Genie01]

There is a statistical probably that still believes that Bitcoin is going to reprice higher in the future.
It might take decades or more but I believe that Bitcoin has come to stay.

 

[tyrim88]

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....

One of the things that has being making lots of persons to use other network for their transaction is that the gas fees for bitcoin is very high and also the time to complete a transaction is usually slow.

 

[Chibson]

I think there is a probability that the price of Bitcoin fees will be heightened in the future and this will be after every bitcoin has been mined and the price skyrockets.

 

[eenya00]

i do not believe that the price of bitcoin would be very high in the future infact i believe that with time the price of bitcoin will greatly reduce and even become way lesser in the future.

Definitely, the transaction fee of Bitcoin and other altcoin will be high in the future as long as the price of the coin is going up. Prices will skyrocket and Will definitely go higher as projected. It will continue to rise for now.

i honestly do not believe that this would be the case, remember how high Ethereum gas fee was, but today it is a lot better as the developers are seeing that people are using other mediums for there exchange

 

[Sincerem]

What I do observe is that whenever the price of bitcoins is down there is definitely a decrease in the transaction fee. As long as bitcoins is on an uptrend and is increasing every day the transaction fee will always increase.