Bitcoins 🥇 transaction 🔃 volume in December #2018 increased to levels not seen since the #December #2017 crypto #bubble 🎈 , over 350,000 transactions.
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Despite this, transaction fees haven stayed low ⬇️, around 25 cents per transaction. This tells us two things:
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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.
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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 📦.
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Currently only about 60% of bitcoin wallets have activated SegWit ⚙️so costs should continue to go down as #SegWit ⚙️ activation continues.
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Lighting Network ⚡️, another potential Bitcoin #upgrade could reduce transaction fees to less than a penny in the #future .
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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 ⚖️.
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Bitcoin 🥇will continue to #develop and mature, but it’s also #important to stop and realize the #progress it has made already.
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#learn #money #business #motivation #education #finance #smart #weekend #cryptocurrency
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