BTC $8109.04 0.88%
ETH $253.38 0.85%
XRP $0.386820 0.29%
show
show
Witnessing the digital breakthrough

Bitcoin transaction fee lowest since 2011

28 May 2018 00:00, UTC
Bitcoin transaction fee lowest since 2011

Despite the recent dynamics which cannot be called positive, Bitcoin has had a serious improvement since the beginning of this year. The price for transactions fell sharply, and now it does not seriously differ that of Bitcoin Cash. The financial technologies of the latter allow to conduct operations for $0.0038 (median rate), while Bitcoin transfers cost $0.113 (same parameter).

The image above demonstrates that Bitcoin Cash had low transaction prices since December 2017 to March, while Bitcoin has reached the similar fee rate only at the end of February. The very probable reason for this mismatch is SegWit combined with Lightning Network - these two systemic upgrades have not been implemented at once, they were being adopted gradually.

The argument of some researchers about Bitcoin’s high transaction fee rate is becoming obsolete. In a notable occasion, Bitnewstoday observers noted that the reasoning of Michael Beggs (Sydney University) could prove as irrelevant over time.

The issue of transactions, however, is only one of the problems Bitcoin has to solve: the cryptocurrency community has yet to improve its reputation in the eyes of investment companies, and especially fiat stock exchanges.

Image: Shutterstock



Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies
Found a mistake? Select the text and press CTRL+ENTER
Leave a comment
Leave a comment
Report a mistake