This is why bitcoin fees really are not an issue

Running my own business I run into a lot of payments large or small they all come in from various sources. Some better then others but all of them come with a nice hefty fee.

At the moment of writing this bitcoin fees are sitting at about $5.55 across the board. (which BTW I love how Hashflare just closed out all my miners all of a sudden now that it became profitable again. Just a warning DON'T PUT ANYTHING INTO CLOUDMINING!)

Now that might sound like a hefty fee and its a bit up there from where it was before. However when you look at the large sums of money being transferred these people are paying hardly anything.

As for a business you normally get slapped with a $0.30 fee on every transaction and then another charge on top of that ranging from 2.9% and upwards to near 4% in some cases. Oh but that is not all, if the bank for some reason gets a charge back you could be stuck with a nice $25 or more fee on a product that could of been $7. Tell me how that will ever make sense. With bitcoin you never have to worry about a charge back.

For example a $250 payment I just got will only net me $242.45 and wont clear to my bank for 3-5 days. While if I would have used Bitcoin I would have gotten about $244.45 ore more if I didn't care about getting it in the first 1 hour as fees tend to lower the further out you go.

So in this case I could of received more money in pocket and received it days sooner.

It is cases like this where you start to see that fees don't matter all that much.

Bitcoin should be used for large transactions, while off chain items of $100 or less can be used on LN Lightning network which comes with a near zero fee and instant transactions.

I have a strong feeling as fees do go up this time around people are going to find a way to start incorporating Lighting network. But not just that, they will most likely rally altcoins as a means to transfer funds at a lower rate. I believe this is what cause the alt coin rally last time.

All in all at this pace it should be interesting to see what happens, if altcoins rally to transact or if Lightning network ends up getting more connections and simply ballooning into one of the biggest networks to date.

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