News

BITCOIN ON THE RISE WITH FEES SKYROCKETING

Date: 2017-08-24 11:48:08


It is no surprise to Bitcoiners that the price of Bitcoin is above $4,000 and rising after its fall to $3,600, as this is the usually life of a cryptocurrency.

Rather, the rise of the bitcoin transaction fees has made bitcoin users more than a little bit uncomfortable with people complaining of spending up to $5 to send $100. This is a surprising development especially since it hasn’t been up to a month since the notorious Segwit activation protocols began.

The activation of Segwit took place finally in the early hours of today, 24th August 2017. This upgrade promised to increase block size to 1.7 MB, although hours after this upgrade, there have been no visible change.

The question on everybody’s mind now is “why has Segwit been fully activated with no notable difference in block size?” or maybe it is too soon to expect changes.

 

What are your opinions?