As monero increases in price, what are the plans to lower the fees? Paying a few dollars per transaction is a bit much. anything less than 10 cents would be ideal. What are the proposed plans to do this?
asked Sep 28, 2017 at 16:45
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1 Answer
Fees are variable, based on the current moving average of the block size, and the block reward. It is thus expected to go down as time goes on, assuming constant usage. Since usage is also expected to increase in the long run, this adds another downward pressure. If you're measuring in dollars, then the exchange rate adds another variable which the consensus can't take into account as it's extrinsic. I suppose if the fees become too low or too high, they might be scaled, but there are no such plans at the moment.
answered Sep 28, 2017 at 18:14
