BTC transaction fees lowest since 2015

04 Jan, 2019
by Arthur Sillers
News
BTC transaction fees lowest since 2015

While prices might be at a serious lull, many are pointing out today that Bitcoin transaction fees have hit their lowest level in about three years, which is positive news for anyone rooting for Bitcoin.

Twitter user Kevin Rooke with Bitcoin Visuals and Bitinfo charts noted that the median Bitcoin transaction fee is only 2 cents right now, which gives Bitcoin trading an affordability it hasn't seen since 2015.

Jameson Lopp noted lowering transaction fees as one of the important metrics which indicate that the 'market will catch up' to the improvements in Bitcoin technology. Not only does the low transaction cost help onboard potential traders, but technological improvements should only lower the prices in the future. While on the 10th anniversary of Satoshi's white paper Bitcoin is licking its wounds from the recent crash, the low transaction fees should give Bitcoin enthusiasts at least some solace. 

The transaction fees, furthermore, are a very important consideration for Bitcoin becoming what Satoshi originally intended. Bitcoin was always designed for small, everyday monetary transactions, and the higher the fees, the less willing people are going to be to use it for this purpose. While the decade old cryptocurrency is still almost entirely used for speculation, and this doesn't look like it will change in the near future, Satoshi (wherever they are), can at least heed this victory as a serious improvement that the Bitcoin community has ushered into the technology.

Read more: Monero bulletproof update to dramatically reduce transaction fees

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Read more about: Bitcoin (BTC)

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