Bitcoin Transaction Fees Lowest Since 2014
crypto·@hunter5·
0.000 HBDBitcoin Transaction Fees Lowest Since 2014
 Bitcoins 🥇 transaction 🔃 volume in December #2018 increased to levels not seen since the #December #2017 crypto #bubble 🎈 , over 350,000 transactions. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Despite this, transaction fees haven stayed low ⬇️, around 25 cents per transaction. This tells us two things: ⠀⠀⠀⠀⠀⠀⠀⠀⠀ More people 📶 are trading and or actually using #crypto (adoption). The Bitcoin 🥇 #network is properly scaling so it can efficiently handle 🏋🏻♀️ higher volumes of transactions. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ The efficiency #gains can be attributed to SegWit, a soft fork 🍴upgrade that the Bitcoin software 💻 received in 2017, which made transactions take up less space on the #blockchain 📦. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Currently only about 60% of bitcoin wallets have activated SegWit ⚙️so costs should continue to go down as #SegWit ⚙️ activation continues. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Lighting Network ⚡️, another potential Bitcoin #upgrade could reduce transaction fees to less than a penny in the #future . ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Currently, companies like @visa and @mastercard 💳 charge 2-2.5% per transaction so any transaction over $15 would actually be cheaper to do in bitcoin #today ⚖️. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ Bitcoin 🥇will continue to #develop and mature, but it’s also #important to stop and realize the #progress it has made already. ⠀⠀⠀⠀⠀⠀⠀⠀⠀ #learn #money #business #motivation #education #finance #smart #weekend #cryptocurrency #motivate #wealth #money #entrepreneur #educate 