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Author Topic: Why have Bitcoin Transaction Fees Fallen so Sharply?  (Read 2237 times)

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Offline MarvonbitcoinTopic starter

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Why have Bitcoin Transaction Fees Fallen so Sharply?
« on: February 03, 2018, 11:06:32 AM »



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Bitcoin’s transactions fees, which became astronomically expensive during the later parts of 2017, has started tumbling down to its barest minimums. Here are the reasons why.

Back in 2017 when the price of bitcoin was on its journey to the moon, transaction fees also packed its luggage and followed suit. At that time, costs for even small transactions went as high as $28, and this proved to be a pain in the nether regions of bitcoiners. 

Fast forward to February 2018 and bitcoin miners are now charging less than a third of what they collected in fees in December 2017. Now let’s take a look at some key factors responsible for the decline in the cost of Bitcoin transactions



Offline MarvonbitcoinTopic starter

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Re: Why have Bitcoin Transaction Fees Fallen so Sharply?
« Reply #1 on: February 12, 2018, 07:13:49 AM »
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Offline BlockTechnology

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Re: Why have Bitcoin Transaction Fees Fallen so Sharply?
« Reply #2 on: February 13, 2018, 02:27:42 PM »
This is primarily because the technology is improved bitcoin

Offline J

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Re: Why have Bitcoin Transaction Fees Fallen so Sharply?
« Reply #3 on: February 14, 2018, 07:16:21 AM »
This is primarily because the technology is improved bitcoin
The Lighting Network is not widely deployed yet. Actually, this technology is just a banking outside of the blockchain of Bitcoin. The opening and closing a channel is pretty expensive for an ordinary users.


 


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