For a umpteenth time in a past year or so, a Bitcoin transaction fees are skyrocketing once again. This is not quite good news for a cryptocurrency mostly referred to as a cheaper approach to send cross-border payments. While a transaction cost is still low compared to other offerings, some users are looking for improved offerings in a altcoin scene.
According to a chart found on Reddit, a Bitcoin transaction fees have been going adult in a past dual years. Not only by unchanging tiny increases either, as a graph shows mixed spikes between 2014 and 2016. Interestingly enough, a transaction price per retard goes adult as a Bitcoin value increases as well.
Bitcoin Transaction Fees Inadvertently Benefit Altcoins
Unfortunately, this is not good news for a people who wish to foster or use Bitcoin. It is distinct a transaction fee has to be paid to a miners. After all, they finish a strenuous charge of ensuring new exchange are available on a blockchain each 10 minutes.
It is not a initial time a Bitcoin transaction fees are being pushed upwards. There have been several incidents of network congestion in a past, ensuing in users being forced to