Author Topic: Bitcoin's transaction fee lowered by 4000%  (Read 28 times)

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Bitcoin's transaction fee lowered by 4000%
« on: February 14, 2020, 12:55:51 PM »
I probably start with a question, have you noticed the decrease in transaction fee of average bitcoin transaction of today?

In the past 2017, the demand for bitcoin is nearly the same for today. And according to this resource, the bitcoin's average fees today is $0.50 dollars in comparison to $20 dollars wayback 2017.

Moreover, the reason behind this decrease and improvement we have is the SegWit and payment Batching. Before, it seems that SegWit isn't providing the best solution to solve the problem of huge transaction fees. But for today, we can see its effect since the transactions of this time is somehow the same with 2017.

In relation to the news concerning bitcoin-related searches, the demand for bitcoin seems to increase significantly over time. I just not sure if SegWit could handle an all time high and huge amount of transaction since we are near to a serious event of bitcoin halving.

There's no doubt that most of the cryptocurrency enthusiast are now suggesting a transaction using SegWit wallet address and since we now have the information regarding its effect on the bitcoin's transaction fees. I don't think we still have a reason to stay with the traditional bitcoin address.