Solidot | High transaction costs are destroying the value of Bitcoin for small payments

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Imagine you’re going to buy $20 worth of items in bitcoin but find that the transaction cost is more than 20 dollars, do you also plan to use Bitcoin for small transactions? This is the current Bitcoin market. By the start of the year, Bitcoin’s transaction costs were less than $1 trillion, often less than $0.1 trillion, but the surge in the past few weeks was accompanied by a surge in trading volumes and transaction fees, with the latest transaction costs 32 dollar . Bitcoin founder Ching had envisioned a digital currency for small payments, but high transaction costs are destroying the value of Bitcoin for small payments . In the case of transaction costs exceeding 20 or even 30 dollars, it is impossible to use Bitcoin for small payments. This is the Bitcoin exchange BitPay and Coinbase (tentatively on insider trading) have decided to support Bitcoin rival Bitcoin Cash (transaction costs are only 25 cents), Steam to stop supporting the background of Bitcoin. Bitcoin insiders know the problem, and their solution lightning may or may not solve the problem.