The fees in effect on the Bitcoin network irritate the users of crypto-currencies

In recent weeks, there has been a lot of debate concerning the costs of transactions Bitcoin, and timely confirmation. On the 23rd of December many people complained of many transactions that are not confirmed and transaction fees that can reach $ 52. The Bitcoin is divisible by eight decimal places, all of these decimal places are redundant, because small amounts of satoshis kept on portfolios that can never be spent, unless the costs do not disappear.


Costs very high

The discussion about transaction costs and time of confirmation have become increasingly strained as users have complained that the costs exceed the $ 30 for a simple transaction of 226 bytes. At the time of the writing of this article, there are 219 887 transactions that are not confirmed under Companies that specialize in the treatment of Bitcoin, such as Coinbase, Bitpay and Shapeshift inform their users about the delays in confirmation. Initially, Bitpay also requested its users to always load their cards with more than $ 100 in Bitcoin because of the high fees. The company has changed its mind and came back to a $ 5 card fees. Shapeshift, meanwhile, is asking people to move more than $ 250 in Bitcoin in order to change to another crypto-currency. Moreover, the CEO of Shapeshift has expressed its displeasure with the high costs.


All the actors in the area of crypto-currencies are affected

Even the owner of, Cobra Bitcoin, complains of the basic costs of Bitcoin in recent times. He has said that he will never be able to use Bitcoin to pay for the renewal of the SSL certificate to the Web portal. “The only ones willing to bear the high costs of transaction fees in Bitcoin will inevitably be financial institutions or large companies “, he explains. The market transaction costs of Bitcoin has definitely frustrated the followers of crypto-currencies ; a feeling that is felt on the forums and on social networks.

Source : Cryptocoinsnews