High fees don't irritate me too because I know they're not going to be around always but only around because of some congestions. The only time we get high fees are when there are congestion on the Blockchain and I don't see that as a problem because it shows that Bitcoin Blockchain is busy and this means many people are doing transactions on the Blockchain and adopting Bitcoin gradually. Sending bigger amounts of Bitcoin out is better than sending small transactions as it makes you to have lots of UTXOs that you have to pay for later and this increases your transaction fees. Durning this time that fees are high and you're making use of a non constodial wallets that allows you to set up your fees, you can adjust your fees to what you think is appropriate and wait for the miners to confirm.

Owning to the choice of word, I can't get irritated by the high transaction fee of Bitcoin but it always annoys me and it denies Bitcoin a lot at that time for I look for alternatives. Even companies handling transactions do so and also advise their clients/customers to do the same. It shows that no one is happy at that time because paying less is better than paying more. This is never a win for Bitcoin and no thanks to the miners who have monopolised everything, they are the only happy class at that time.

To me, it's just a natural phenomenon, and as with any other natural phenomena, I ought to accept it and move on. Bitcoin is designed to sometimes have very high fees, and as time goes by, the network must be even more congested than it is now, due to block subsidy decline.

It's the price you pay to have a hard cap at 21 million coins. In tail emission, all coin holders pay through inflation. In Bitcoin, it's those who transact. Someone always has to pay for the security. I'd rather have both options, and observe the preferences of the market.

You don't feel annoyed because you don't make transactions frequently and you can wait for the transaction fees to go down but for those who have to make transactions frequently this is really irritate and troublesome.

As you said, having more transactions shows that bitcoin adoption is increasing, but what do you think will happen if this adoption becomes global, when the whole world uses bitcoin? I believe that small investors like us will no longer have a chance to use bitcoin, not to mention high fees are not a problem.

Not to mention, this will make bitcoin unable to become a means of payment, people will hesitate to use bitcoin for payment when having to pay additional transaction fees. Don't underestimate high transaction fees, this is a hindrance for bitcoin.

What's stopping small investors from using BTC, a lot of us here are not whales, so we mostly fall under the umbrella of small investors, but we still use BTC, maybe not for micropayments, but for cross-border and macro payments and also as an investment and hedge against inflation.
Take note that tx fees are not always high, many times there is no congestion in the network and it is very cheap to make tx's in such times. Tx fee is ~ 3 sat/vB right now, so it is not expensive.

Everyone who transacts bitcoins wants to transfer their bitcoins cheaply. When Bitcoin transaction fees rise up, it can seem a little annoying to everyone. This becomes a big problem especially for those who do small transactions. This is a big problem for many people who collect bitcoins regularly, especially those who use the DCA strategy. Many people are reluctant to use Bitcoin when the transaction fees increase so much that they are worth more than their original money. However, for those who are large holders of Bitcoin, transaction fees are not a problem, but when transaction fees increases, the price of Bitcoin also increases. I usually hold transactions during the periods when the fee rising because I know it will go back to previous position.

Looking at your contribution in the thread you created on 26th July 2024, it seems as though you do not have much of an interest in what others are writing. The three posts you have made demonstrate it.

And what cannot be overlooked is that when you did manage to write you barely strung along enough words to remain coherent to a degree. The question that comes to mind is why would anybody other than puppeteers controlling alt-accounts and farmed accounts behave in this manner?

I'm talking about a future where bitcoin is globally adopted and everyone uses bitcoin. If we don't have a solution for bitcoin transaction fees, what will happen?
BRC and Rune alone caused the bitcoin network to become congested and fees to skyrocket. So what happens when there are billions of people using bitcoin and transacting every day?



Do you think BRC and Rune will stop anytime soon? I'm not that naive and I bet you that as the market heats up again, things like BRC-20 will continue to appear and the bitcoin network will continue to get congested. To be a means of payment, we need a stable network, not waiting for cheap fees to use or having to wait up to 7 days to complete a transaction when bitcoin is congested.

And as I said: what will happen when bitcoin is widely used in the world, does that mean transactions will be 10, 100 or even 1000 times more than now and what do you think the transaction fees will be? We need a long-term solution for the future, not just looking at the present.

You are welcome.

I have gotten used to the congestion and Bitcoin's high transaction fee, it doesn't happen all the time so that's fine by me, I am someone who will go for what Bitcoin has to offer me as my store of value rather than the charges on transaction fees, nothing else does it better than Bitcoin and no blockchain project is 100% perfect in this crypto space.

The last time I experienced a high transaction fee was in 2023 I think, it's been months now, I had to use Booster online and someday I had to leave my Bitcoin in my wallet until the fee was fair enough, if you are moving small BTC then you will have a problem, but for those with high amount of BTC, they dont mind moving their BTC around.

If you want to know how I felt then I wasn't happy, I was sad because I needed to make transactions at the time, but I got used to it, even some BM on this forum started using USDT to pay members instead of BTC, but a few weeks later thing went back to normal.

No one feels comfortable spending a lot of money on transactions, especially small transactions, but we need to know that it is the price we need to pay. If we want bitcoin to maintain its decentralized nature and protect our privacy, paying higher fees is acceptable. Like any other service or product, if we want better quality, we need to pay a little more than others.

Nothing is absolutely perfect: if we want privacy, want to ensure safety, we need to accept high fees + slows and vice versa. Bitcoin offers privacy and security but sometimes comes with drawbacks like high transaction fees and congestion. Meanwhile, altcoins will have cheaper fees, faster speed but the network can be attacked at any time, our privacy is gone. The choice is up to each person.