/biz/ - Business & Finance

>>49294619
>Right now monero's fees are like 0.001 usd but it seems if monero was 30k like btc then the fees would be the same?
Nope. Monero has low fees due to using a dynamic block size. It's also a lesser known feature of Monero that fees actually go down the more people use it, as min. fee per transaction is a function of block reward / block size, meaning that as Monero gets bigger blocks due to usage it actually drops fees in XMR. Since we would assume that a large increase in transactions is likely going to correlate in higher XMR values, by requiring less XMR per transaction in fees actually means that it stays affordable to transact with even with much higher use.

You could still see fees go up in real terms though if you saw massive price increases without the corresponding volume of transactions pushing block size up.