Is Bitcoin Transaction Cost Truely ON The Rise Or Not

in #bitcoin6 years ago

Is Bitcoin Transaction Cost Truely ON The Rise Or Not

Miner always has transaction fess. Anytime a bitcoin block is succesfully mine with a hash,
data of all transactions is included with the block and every transaction fees are collected by that miner creating the block, who is required to claim the fees.

Bitcoin transaction fees was penny in 2007 and 2008, later became cents, then later 40 to 50 cents and now about few dollars.

Also note, at present, miners earn just nine percent of their revenue from transaction fees; the remainder is subsidized through the block reward.
This is why the average transaction fee is so much smaller than the transaction cost — although many users still protest that fees are too high.

Also note, bitcoin is used for other purpose than it was in 2010 and 2013. Since 2013, users have a different perspective, they see bitcoin as a store of value — a kind of “digital gold”. This factor, coupled with rising fees (relative to their USD equivalent, that is),bitcoin_transaction_fees.png has caused a far smaller percentage of users to make regular, small-value transactions.
Therefore, in my opinion it might be difficult to compare transaction cost of 2013 til now with 2010 to 2013.

bitcoin-will-stunning-rally-sustain-or-sour-in-2018-fig06.jpg

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