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Bitcoin High Transaction Fees And Inflation Rate Revives the 2017 FUD Again

Financial Institutions in the world reportedly have started to include Bitcoin. However, the major products being launched, at the moment, are investment and trading related. While this adds credibility and security to the asset, it makes it a speculative asset nonetheless.

Moreover, gold has limited use, but people all around the world still value its lustrous property. Bitcoin is an efficient store of value, but its transaction capabilities restrict it.

The average fees of each transaction on Bitcoin is again on the rise as the number of transactions is increasing. Marc Bevand, a Twitter user, published his discovery on of the transaction fees problem that has crept us again. He tweeted,

“Bitcoin hit 19 BTC in pending tx fees. It’s an 11-month high, since Jun 20, 2018. Translation: mempool is filling up, tx fees going 📈 Average tx fee over the last 6 hours is 3-4 USD. “

high trasnaction fees on bitcoin
Bitcoin Average Transaction Fees (Source)

Vinny Lingham also expressed his apprehensions about the transaction…

Read Full Story : Coingape

2019-05-16 14:24:32

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