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Let's say "a few times a year" is once every two and a half months. Everyone who wanted to use Bitcoin would then have to pay about $100 a year to use it at tod
by owenversteeg 9y ago
Let's say "a few times a year" is once every two and a half months. Everyone who wanted to use Bitcoin would then have to pay about $100 a year to use it at today's rates. That's still ridiculous. And fees have increased mostly because the price increased. If people actually started using Bitcoin, the price would skyrocket and fees would rise even higher.
- SamPatt 9y agoThe fees have increased because there's not enough space in the blocks. The price increase would be irrelevant if there was enough space in blocks.
- wereHamster 9y agoThe fees have also increased because of the large number of unconfirmed transactions (we currently have over 160k transactions in the mempool). Once that decreases to more reasonable levels the tx cost will decrease, too.
- nrhk 9y agoSome premium credit cards come with annual fees and benefits. $100 a year for the ability to use a censorship resistant, semi-anonymous payment system doesn't sound like a bad deal.