Some people are spreading the idea that Bitcoin will die tomorrow because of the extremely high fees resulting from a shortage of transaction capacity.
“Fees are high” only makes sense when adding “compared to X”.
It is correct that fees for Bitcoin use are high compared to Ethereum or Litecoin.
It is far from correct compared for the fees when buying and storing gold.
One of the use cases for Bitcoin is long term secure store of value. I hear that there is a 21 million coin limit, which seems to be helping the value of this use case.
If so, comparing to some altcoin doesn’t make much sense. You should compare the fees to buying and storing gold, which is in direct competition with Bitcoin for this use case.
Googling around a bit I found that the largest online gold marketplace is run by a company called Bullion Vault, with about $2 billion in gold owned by their customers. They compare their fee rates with other options (like gold ETFs or buying gold coins), and they seem to be rather competitive.
If you buy $50,000 in gold there, they will charge you 0.5% in fees for buying the gold and 0.12% a year for storing it. Assuming you store it for 10 years before selling it (long term value store), that would be $250 for the buying fee and $600 for 10 years of storage, for a grand total of $850 in cost.
Explain again why Bitcoin is going to die tomorrow from a $1 transaction fee.