Quote:
Originally Posted by MrBottomTooth
Was just moving some cryptocoins out of coinbase so I can actually sell them at some point and I see the network transaction fees are over $40 for bitcoin.
So you have to pay that even if you're just trying to buy a pizza? What good is bitcoin as an actual currency then?
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That's what some are arguing right now: that because it is completely impractical for transaction purposes (unless you're moving some serious funds), it's really more a store of value, which is really only of interest to speculators. What other currency would be this volatile? (There's probably an answer to that, but let's just consider it a rhetorical question.
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Bitcoin's upcoming Lightning features (off-chain settlements) are taking too long and even once available will take some time to adopt, so we're going to have to endure this pain for a while longer. The Bitcoin Core team refused (and continue to refuse) to increase the block size. Hopefully that decision is not going to result in a mass exodus to another coin before Bitcoin transaction levels (and costs) become reasonable again.