On Fees and Usability of BCH: What do people say?

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4 years ago

Below are the collection of what do people say about BCH when we talk about fees and it's usability.

Enjoy :)

“Bitcoin Core’s transaction fees have made purchasing at our ATMs economically unfeasibly again. We will be resuming sales when/if the meme pool backlog is cleared. Bitcoin Cash purchases are unaffected and working smoothly. Dash also available.” – @confuciusatl

“If you think consumers are going to throw away $100s and soon $1000s on transaction fees to open up a payment channel on the lighting network, you are delusional.” – @olivierjanss

“I just sent a friend his first $2 worth of BCH…for .000003 BCH, which is roughly $.0054. This is peer to peer. This is decentralized.” – @mzietzke

“When BCH reaches over 100,000 USD per coin and has 100s of millions of daily users, the fees on Bitcoin Cash per transaction will be under .01USD for most people. When 5 billion people use it for 10 or more purchases a day of anything from a coffee to a house. Fee ~ .01USD/TX” – @ProfFaustus

“The fee situation on BTC is what big blockers have been predicting all along. Ou next prediction: Users will evacuate High Fee Coin for better alternatives. The easiest thing to switch to is BCH.” – @ryanxcharles

“I’ve grown tired of the scaling debate. To me it’s over. At this stage if you believe in the original Bitcoin vision of fast, cheap, unchain transactions then you should be using Bitcoin Cash. If you want slow, expensive, unreliable, centralized transactions then use SegwitCoin.” – @bronxr“To those arguing that Bitcoin Core fees are no longer “through the roof,” it only reached this point because you destroyed your user base with an artificial 1mb block size limit. The data speaks for itself – transactions/block down to 2 year lows with dominance at all time lows.” – @rogerkver

“Average payment size on Yours is about $1.00. Because we use Bitcoin Cash, fees are about half a percent. If Yours used Bitcoin Legacy, fees would be about %2000, ie, far more than the payments themselves. This is why I refer to Bitcoin Legacy as ‘High Fee Coin.'” – @ryanxcharles

Bitcoin cash enables the free flow of value. BTC not so much. The stream was blocked ages ago, as anyone who used it on a daily basis would know.” – @onwindowly

“Transaction fees for a digital cash are self defeating. Things become money by being used as money, in other words the “moneyless” of an asset is an emergent phenomenon. TX fees reduce usage, therefore reducing utility and finally reducing value.” – @tusharJain_

“BTC supporters yesterday: High fees are great! Pop the Champagne! BTC supporters today: Low fees are great! Pop the Champagne!” – @rogerkver

“Bitcoin Core has removed non-reversible transactions by adding “replace by fee” against the will of the community. They did this because their willful neglect caused transaction prices to rise and they thought people should bid on the next block. This goes directly against the Whitepaper.” –  @Annapurna317

”Initial impressions of Lightning on testnet: c-lightning segfaults a lot, and when it’s not crashing payments fail more often than not. Writing it in C – a notoriously dangerous language – doesn’t strike me as a good idea.” – @peterktodd

“When it’s cheaper (and sometimes faster!) to FedEx private keys to someone than to send a digital payment, Bitcoin is no longer a P2P electronic cash system.” – @ErikVoorhees

“Just heard from another merchant adding BCH. I think we’ll see a wave of “dropping BTC, customer support costs too high” within six months.”  @gavinandresen

“Fellow Bitcoiners, are you ever going to realize how problematic these fees are getting? Avg fees now over $40 per tx. A year ago avg fee was $4. A year prior, $0.40. Growing faster than price, and exponentially with usage. We just spent $4800 to move 15 BTC in one TX.”  @ErikVoorhees

“Bitcoin’s usefulness as a store of value comes as a secondary effect from its usefulness as a medium of exchange. If you destroy the medium of exchange, you destroy the store of value.”  @rogerkver

“This “store of value” nonsense really needs to stop. Bitcoin MUST have functional utility to justify the current price. If you insist that bitcoin is nothing but a store of value you are just asking for the millions that you have made to go poof.” – @chrispacia

“Bitcoin’s payment system functionality was deprecated in 2014 and removed completely on November 8, 2017. Any businesses that need payment system functionality should upgrade to Bitcoin Cash immediately.” – @ryanxcharles

I remember a time when Bitcoin was fast and cheap to send. Sigh.” – @jeffreytucker

source https://derekmagill.com/2018/03/09/bitcoin-cash-quotes/

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