Transaction costs are a hot topic of debate in the world of cryptocurrency. There is much discussion about the cost of Bitcoin versus Bitcoin Cash in this regard. Now it seems the average Bitcoin transaction fee is lower than the BCH. As always, a temporary snapshot can look very different within a few hours.
Bitcoin Costs in Perspective
When directly comparing BTC with BCH fees, there seems to be no real contest. The transaction cost of Bitcoin Cash is much lower than that of the world's leading cryptocurrency. In fact, the cost of BHC is relatively flat for some time now. The cost of Bitcoin, on the other hand, is uncertain as usual.
However, temporary snapshots often tell different stories. Tweet by Ven Verret shows the BTC cost is lower than the BCH in a period of six hours. An interesting development, though it only tells a small part of the story. The screenshot itself shows this cost for Bitcoin has jumped just an hour or two before. Why the sudden increase took place, remains somewhat unclear for now.
This does not mean Bitcoin suddenly becomes cheaper to use. When setting the transaction time correctly, it can be a temporary case. In addition, users with patience can still send transactions on 1 Satoshi per byte. It may take several hours to confirm, but this is another interesting option to search. When looking at the bigger picture, however, BCH remains a cheaper option with little margin.
The Debate Continues
As is usually the case when such trends are shown, public reactions are palpable. Bitcoin Cash supporters do not accept this development well. However, they also show how their average TX cost is 0.24 cents or lower. It's cheap enough, though others will dispute this. The overall use of BCH networks compared with Bitcoin is very different.
The bigger question is how this situation will develop. More specifically, there is a growing need for faster and cheaper Bitcoin transactions. Lightning Network can effectively provide that functionality. Thanks to the growth of payment channels, it seems this logical development can happen soon. Even so, this technology is still in beta testing, and the "official" launch has not been announced.
This kind of development is interesting to keep in mind. However, keeping the bigger picture in mind needs to be first and foremost. The picture clearly shows that Bitcoin has the highest market capitalization and Bitcoin Cash remains an altcoin. It also shows that Bitcoin has a higher cost in general, and the situation may not change immediately. Thus, the current status quo between BC and BCH will not benefit the currency.