CoinExchange.io Introduces A .05 BTC Minimum Deposit Amount Because Of High Transaction Fees

Came across an interesting piece of news today.

All CoinExchange.io members are given this message if they attempt to deposit BTC into their accounts.

"Due to the high miners fees on the bitcoin network we will be introducing a minimum deposit fee on the 17th of January. Any deposit of less than 0.05 BTC will incur a fee of 0.0008 BTC. Deposits of equal to or less than 0.0008 will not be credited into a users account. CoinExchange.io has been spending close to or in excess of 3 BTC per day to dust clean smaller transactions out of our wallet.

This is not sustainable.

The minimum deposit fee will be used to help us group small transactions into larger outputs. Hopefully lightning network clients will be released soon which we can integrate into our system that will reduce BTC withdrawal fees. That will allow us to completely remove minimum deposit fees. In the meantime we will endevour to add more LTC, ETH and DOGE markets as well as adding a new QTUM base market."

In my humble opinion this is not good for BTC.

In the future, I see other established currencies such as DOGE, LTC, Bcash and ETH being adopted more rapidly than Bitcoin.

For a while now Bitcoin has been synonymous with crypto, but unless the Bitcoin Core devs (or whoever is responsible for updating the source code) get their act together and introduce a proper solution, I'm afraid that BTC is going to be dead in the water in the very near future.