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In this video, I discuss Bitcoin's scarce blockspace and high transaction fees, with reference to Yogi Berra's famous aphorism: "Nobody goes there anymore. It's too crowded."
Bitcoin has higher transaction fees than most blockchains because its digital real estate has the most demand. The only reason that your blockchain has lower transaction fees is because your coin is losing and global demand for it and associated blockspace is not as high as it is for Bitcoin.
Having high transaction fees is a feature, not a bug. It helps to compensate Bitcoin miners against the backdrop of an ever-decreasing block subsidy (currently 3.125 BTC and trending to zero).
If people don't want to hodl your coin, then your coin will never develop a strong circular economy, where people want to both earn it and spend it.
And if no one wants to hodl your coin, then you are at a distinct disadvantage to Bitcoin, which not only has many more merchants and other people who want to accept it as payment (strong network effects) than any other crypto in the world, but which also has the strongest hodler community in the world.
Bitcoiners invented "hodling," and no one does it like a fanatical committed Bitcoiner. Altcoiners are constantly searching for the next pump, so that they can dump their current coin and buy more BTC with the proceeds.
That's why every single altcoin chart will continue to go to zero against BTC forever. No one wants hot potato money. Everyone wants digital gold.
"Transaction fees are so high that no one wants to use Bitcoin anymore."
This common cope has strong Yogi Berra vibes: "Nobody goes there anymore. It's too crowded."
The only reason that your blockchain has low fees relative to Bitcoin is because your blockchain is losing against Bitcoin.
Not investment advice! Consult a financial advisor.
Yogi Berra:
https://en.wikipedia.org/wiki/Yogi_Berra
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