Tag Archives: Fees

Bitcoin transaction fees show cryptocurrency’s limits

The bitcoin rate spike, still alive despite bitter divisions in the community that supports the cryptocurrency, has laid bare the biggest problem with bitcoin: compared with fiat currencies, it’s painfully inconvenient and expensive to use as a means of payment. Bitcoin is set up to reward users for verifying transactions. Miners who package transactions into […]

Bitcoin’s High Transaction Fees Show Its Limits

The Bitcoin rate spike, still alive despite bitter divisions in the community that supports the cryptocurrency, has laid bare the biggest problem with Bitcoin: Compared with fiat currencies, it’s painfully inconvenient and expensive to use as a means of payment.  Bitcoin is set up to reward users for verifying transactions. Miners who package transactions into “blocks” receive […]

As Bitcoin Reaches New Price Highs, Network Congestion and Fees Spike

Technology Bitcoin markets have been on a tear lately, and the price has spiked quite a bit last month and into November. However, as bitcoin’s value surpassed $7K per BTC, transaction bottleneck and miner fees have risen again, causing users to complain about unconfirmed transactions and paying $5-10 per transaction. Also read: Ethereum […]

Mounting Bitcoin Transaction Fees Cause Uproar Once Again

It is that time of year again when the Bitcoin transaction fees are on the rise. We have seen this problem occur multiple times already. Right now, the median fee is $4.23, which is ridiculously high. It may even result in a new all-time high. Not the good kind, though, that much is certain. Rest […]

Rising fees have bitcoin users rethinking practicality

Ryan Charles recently switched his business, the social platform Yours Inc., from using bitcoin — simply because he couldn’t afford it. Fees for sending money over the distributed-ledger network have risen nearly 19-fold, from 13 cents per average transaction in the second quarter of 2016 to $2.40 in the same quarter of this year, according […]

Bitcoin Fees Chasing Businesses Away, Dash, Litecoin Benefit

In Bitcoin’s early days, one of its selling points was the ability to move money globally, with little to no fees. That is no longer the case, as the cost of moving Bitcoin can sometimes exceed the costs of PayPal and Western Union. Commerce companies are struggling to use Bitcoin for its intended purpose, as […]

Ethereum Sets New Throughput Record, Fees Stable

The Ethereum network set a new throughput record yesterday, processing over a half million transactions in less than a 24 hour period. With all the news attention being focused on Bitcoin, the Chinese ICO ban, and Ripple’s lawsuit woes, Ethereum has quietly continued to grow in number of users and computational power. Fees unchanged While the network usage […]

Bitcoin fees in decline » Brave New Coin

After the long-awaited activation of the Bitcoin network’s upgrade SegWit many questions quickly arose about when and how bitcoin users would start to enjoy its benefits. Once wallets and users employ the new SegWit format, blocks can theoretically grow as large as four megabytes each. In practice, however, developers have stated that they’ll be more […]

Stuck With Fees? New Bitcoin Tech Could End Wallet Guessing Games

Two years ago, average bitcoin transaction fees were less than a penny. Today, they have surged to nearly $6 on average. In short, the reason behind this rise lies in bitcoin’s limited transaction space. As demand has grown over the years, that space has started to fill up, so miners, in an effort to make the most […]

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