$0.85 transaction fee is absolutely ridiculous!

Memenya

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Quote from: pawel7777 on May 05, 2017, 04:32:45 AM

$0.85 is not that much, most of my recent txs were above $1, and it could go way higher if your tx is of large size.

You're not the only one having a problem with this. Some want to increase max block size to reduce confirmation/fees, some want to push most txs off-chain (Lightning Network/Sidechains).

But don't expect changes anytime soon.

Yes, $0.85 till $1 is not much on that time but now you will be more surprise about the charge fee of sending bitcoin.
However, it can not bitcoin anyway, the supporter still stay strong in the back to support bitcoin

luckybegum3907

newbie

Activity: 28

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I am really seeing is that it's becoming impossible to make smaller transactions for daily purchases. At this point, we can forget about using bitcoin as an everyday currency because it's cheaper to buy things like a cup of coffee with a debit card or cash. Everyone else pays for your free transaction. And wait till the bailouts for banks come again. Come back and tell us how the transfer is still free or ask the cypress bank account holders how their free transfers worked for them. I had to use the accelerator but would you imagine if everyone lowered the fees they're paying and massively started using accelerators. That doesn't have to be all that bad, maybe that will get miners to lower the fees and maybe it will just clog the blockchain even more.

thenameisjay

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Quote from: CoinTasker on May 05, 2017, 04:22:48 AM

Am I the only one realizing that ~$1 fee to make a transaction is absolutely insane and defeats one of the core benefits of using bitcoin for daily transactions.

This is getting insane and is completely uncalled for, or am I wrong?

This is cute. Compared to transaction fees today? This is just child's play. How I wish we didn't take for granted this kind of transaction fees before and just transferred a lot of bitcoins from then on out. But then again, bitcoin prices have then rose from that date to now.

Dabs

legendary

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The Concierge of Crypto

I sent three transactions this week with a fee of $0.09 USD. All of them confirmed within 1 to 17 minutes. The value of the transfer is irrelevant, but they were all above a few thousand USD.

Dapper

sr. member

Activity: 560

Merit: 260

It's $1.50 to $1.80 to send $2500-$3000 TODAY and that's awesome. And it's been awesome (again) for around a month now.

gabbiee

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Quote from: kriticko29 on October 27, 2017, 11:09:52 PM

Don't be ridiculous mate. As the price of bitcoin increases the value of fee's also increases. Don't be so dumb that the fee will stay the same with the bitcoin price continue to surpass its limits

Your right, one of the reason why the price of bitcoin is continuously growing because more and more people are engaging into bitcoin everyday, which means that more and more people are making different transactions through bitcoin. These leads to higher transactions fees because of the traffic or I don't know what you call it in the blockchain technology but the point is the community is continuously growing as well as the fees.

stompix

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Blackjack.fun

Quote from: BlackRacerX on February 12, 2018, 07:11:12 PM

Quote from: CoinTasker on May 05, 2017, 04:22:48 AM

Am I the only one realizing that ~$1 fee to make a transaction is absolutely insane and defeats one of the core benefits of using bitcoin for daily transactions.

This is getting insane and is completely uncalled for, or am I wrong?

Imagine the price of transaction fees compared to this post. Less than a dollar for a transaction? Compare it pricing today at around $10 per transaction depending on the volume. Considering this, I wish we just had that $1.00 transaction fee. We need it badly this time around.

Oh great Karhu, please grant me patience to deal with guys like this....

Dear BlackRacerX, have you:

a) sent a BTC tx this week?
b) have you checked the fees on https://estimatefee.com/ or even better https://coinb.in/#fees ?
c) have you checked what tx are getting confirmed right now? Block 508929?
d) have you read what just above you QuestionAuthority and LoyceV have posted?

If yes, then why, why did post this?
If not, why, why haven't you checked those before posting?

BlackRacerX

full member

Activity: 462

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Quote from: CoinTasker on May 05, 2017, 04:22:48 AM

Am I the only one realizing that ~$1 fee to make a transaction is absolutely insane and defeats one of the core benefits of using bitcoin for daily transactions.

This is getting insane and is completely uncalled for, or am I wrong?

Imagine the price of transaction fees compared to this post. Less than a dollar for a transaction? Compare it pricing today at around $10 per transaction depending on the volume. Considering this, I wish we just had that $1.00 transaction fee. We need it badly this time around.

QuestionAuthority

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Quote from: LoyceV on February 12, 2018, 03:01:32 PM

Quote from: Raja_MBZ on February 12, 2018, 01:16:08 PM

This thread was made months back when fee used to be around $0.50 usually. It's a blessing now if bitcoin transaction gets confirmed even with $5 fee.

You can stop the FUD, fees have been much lower for quite a while now.
Example: last week I paid 0.53 USD for a transaction with 4 inputs (730 bytes). It confirmed in 12 minutes. The same block included a transaction with 0.05 USD fee.

Yeah, that’s what I was thinking too. For the last week or so I’ve been doing transactions from $.50-$.75.

LoyceV

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Quote from: Raja_MBZ on February 12, 2018, 01:16:08 PM

This thread was made months back when fee used to be around $0.50 usually. It's a blessing now if bitcoin transaction gets confirmed even with $5 fee.

You can stop the FUD, fees have been much lower for quite a while now.
Example: last week I paid 0.53 USD for a transaction with 4 inputs (730 bytes). It confirmed in 12 minutes. The same block included a transaction with 0.05 USD fee.

Raja_MBZ

legendary

Activity: 1862

Merit: 1505

Quote from: incomefromcoins on February 12, 2018, 09:30:09 AM

Bitcoin fee is major worry for every one these days we need to see less fees

This thread was made months back when fee used to be around $0.50 usually. It's a blessing now if bitcoin transaction gets confirmed even with $5 fee. This is why some say that Bitcoin Cash is the real bitcoin (and to some extent, I agree with that too, just except for the problem of centralized mining of BCH). However, the next upgrade to the system of original bitcoin should be enough to get rid of these huge fees.

incomefromcoins

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Bitcoin fee is major worry for every one these days we need to see less fees

pawel7777

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Quote from: QuestionAuthority on January 31, 2018, 08:04:44 PM

Quote from: ?? on ??

Am I the only one who realizes that the ~ $ 1 charge for doing a transaction is completely insane and defeats one of the major benefits of bitcoin use for daily transactions.

It's going crazy and completely unwarranted, or am I wrong?

Now that’s something you don’t see every day.

Why did you duplicate the OPs post almost word for word? LOL

Poorly designed bot I guess. I went through few of its latest posts, it's all the same.

Reported to mods

QuestionAuthority

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Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: ?? on ??

Am I the only one who realizes that the ~ $ 1 charge for doing a transaction is completely insane and defeats one of the major benefits of bitcoin use for daily transactions.

It's going crazy and completely unwarranted, or am I wrong?

Now that’s something you don’t see every day.

Why did you duplicate the OPs post almost word for word? LOL

Sithara007

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Quote from: wellsontheja on October 27, 2017, 10:37:10 PM

You're not right but not wrong too, actually 0,85$ is not much for bitcoin usually my transaction for bitcoin is use fee around 1.61$, 0,85$ for fee i think it's worth it.

I think you guys have been lucky. A few weeks back, I remember paying close to BTC0.0015 or around $8.00 for a single transaction. And most of the times when I withdraw coins from exchanges such as YoBit, LiveCoin and Cryptopia, they are charging anywhere from BTC0.0010 to BTC0.0015, which is equivalent to $6.00 to $9.00 in fiat.

Philipp M.

newbie

Activity: 3

Merit: 0

The problem with the rising fees is that it prevents people from using bitcoin in their daily lives. Would you buy a coffee for 2.50 $ and pay a fee of 2$ for a transaction?

I think that if bitcoin was to be used as a 'normal' currency, it would contribute to its worth and success even more. The recent development with the fees could be counterproductive for the value of bitcoin, that's my guess

kriticko29

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Don't be ridiculous mate. As the price of bitcoin increases the value of fee's also increases. Don't be so dumb that the fee will stay the same with the bitcoin price continue to surpass its limits

wellsontheja

full member

Activity: 210

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You're not right but not wrong too, actually 0,85$ is not much for bitcoin usually my transaction for bitcoin is use fee around 1.61$, 0,85$ for fee i think it's worth it.

Hotel_Prodeo

sr. member

Activity: 588

Merit: 253

This is the excess bitcoin, with a very cheap cost of $ 0.85 we can send money to the world, it does not cost $ 25 to be able to send to other countries but very cheap. this is what bitcoin users favor for bitcoin transfer rather than banks.

Gudhal Untu

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If we use a low cost of course there is a risk that it takes a very long time to be used by the recipient, I suggest to use a larger cost of about 100k or $ 5 so within 2 hours can be used the recipient.

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