Without sounding like a violated record, the Bitcoin network fees are getting more ridiculous. Albeit this kwestie has bot present for some time now, things are not improving. Ter fact, the average transaction toverfee is now well overheen $50. This is the highest it has bot for fairly some time. When and if this solution will be resolved, remains to be determined. Right now, it seems unlikely anything will switch soon.
Using Bitcoin is expensive beyond belief. It is not what Satoshi Nakamoto envisioned originally, that much is rather overduidelijk. Ter fact, the aim wasgoed to make Bitcoin scale and accommodate more transactions overheen time. So far, that hasn’t happened. This is mainly due to companies fighting to integrate Segregated witness support. Te some cases, they are purposely delaying this development spil well. Something will have to give before the average transaction toverfee surpasses $100.
Average Transaction toverfee Keeps Rising
Albeit most people stopped caring about thesis high fees , it’s still an significant kwestie. After all, if the average transaction toverfee keeps rising, things will get out of forearm very quickly. Right now, it’s far too expensive to use Bitcoin spil a payment method. Strafgevangenis is it a suitable way to combat high remittance fees. Bitcoin has become too expensive for its own good and people grow tired of it. Unluckily, paying this average transaction toverfee is the only solution right now.
Remarkably, none of this is affecting the number of transactions. With almost 350,000 processed te the past 24 hours, things are still looking good. Moreover, almost 11% of the total market cap wasgoed transacted te the past day. Those numbers are still positive despite the glaring issues Bitcoin brings to the table. It also seems the average transaction value is on the rise. This may be due to the average transaction toverfee mounting. Otherwise, it would make little sense for users to even spend BTC.
How all of this will pan out, is a big question. After all, it is overduidelijk this average transaction toverfee has to come down. Enforcing such a switch will not be effortless whatsoever. Ter fact, it may require some drastic switches no one is willing to pursue. All of this also makes Bitcoin Contant look far more superior. The next few days and weeks may very well be critical to Bitcoin’s survival te terms of being a “useful currency”. For now, things can lightly go either way. It’s still a good store of value if you can belly 30% dips overnight.