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Topic: $0.85 transaction fee is absolutely ridiculous! - page 15. (Read 24268 times)

legendary
Activity: 2814
Merit: 1192
Ok, since I'm the OP I'm gonna drop another example of some bullshit. I use mellowads as one of my banner ad providers for some of my sites. I typically wait until my balance reaches .01 BTC (currently $17.57) before I withdraw my balance. So, I had .0105 and some odd change in my account and went to withdraw. I paid a fee to mellowads of 0.00005 BTC ($0.09). I have absolutely no problem with that. So I ended up sending 0.01041323 BTC ($18.30)  to my CoinBase wallet and ended up receiving 0.009375 BTC ($16.47) which means I paid an additional $1.83 on top of my mellow ads fees somewhere along the way. Not only does neither system tell me about these fees explicitly so I know beforehand exactly how much I am going to have to pay, but that is a 10% fee and I don't even know who took it or where it went. Seriously, if people keep saying this isn't a big deal, then you are an idiot. I'm not usually one to call names, but 90% of the people chiming in on this discussion are saying the exact same thing....make large transactions only, it's not a big deal if you are buying a goddamn house, just don't expect to buy a cup of coffee with bitcoin. Oh, you are so insightful, thanks for explaining the difference between paying high fees for small transaction and low fees for higher transaction....I wasn't at all aware of that. The thing is, if you are one of those people that think this is ok, you are missing the fact that most people actually using bitcoin for purposes other than hoarding digital gold are being screwed. The people who are literally creating the bitcoin economy are the ones getting robbed. Keep telling yourself it's all ok, and we should all just be making large transactions and see where that gets us in a year when nobody can come to an agreement on how to resolve this problem and people stop fucking using it. At some point, investors and developers are going to start looking to other coins that don't have this problem. And then what do you think happens? You think Bitcoin is invincible? Well it's not. If this elephant in the room simply doesn't ever get addressed, you hoarders are going to be sorry you didn't care and the next big party is going to fly right by you while you're blinded by your shiny digital gold.

Ok rant over....
You touched a problem than people usually don't see at first and that's receiving and sending small payments. What you experienced (a 10% fee) is still nothing compared to even smaller transactions, like buying a drink, or a snack. In such case our fee (which is fixed) will take 50% or more, which starts to look like a joke. The answer people are giving is: send only big transactions. OK, so we're not using Bitcoin to buy a drink, a snack, a pack of cigarettes, but when does it become worth it if the fee is constantly rising. At the moment sending $20 with a $2 fee is borderline acceptable, so you you will no longer order a pizza, but buying clothes, jewelry, electronics is still fine. 6 months from now it might no longer be.
hero member
Activity: 563
Merit: 500
I can't even get few dollars to an exchange and its pissing me off. This is the third time trying to use minimum fee's but the bitcoin client custom fee input that I inputted is totally different from the blockchain.

Quote
f9d3fcfc42f5cfb8b86b15e3198ea8422711bd598d9ad1b26c68811654f65cb2
(Fee: 0.0000664 BTC - 29.78 sat/B - Size: 223 bytes) 2017-05-21 00:21:05
12NcNYb2oEh6ANo95AakEjPqQdgbcxh4m9 (0.00132885 BTC - Output)
14XknsfpDYGV4pusK7b8bsixDQER4PZok9 - (Unspent) 0.00126245 BTC
https://blockchain.info/address/12NcNYb2oEh6ANo95AakEjPqQdgbcxh4m9

I fucking inputted "0.0001338BTC" as a fee.

So, it's gonna stay unconfirmed again for days on days.
legendary
Activity: 2674
Merit: 2965
Terminated.


Welcome to reality and stop shilling some centralized shitcoins.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
Unconfirmed transaction every friday to sunday is crazily high. I dont know if there is a manipulation happening but i just cant stand to it. We need to solve this kind of problem
Well, the transaction fee is not the real issue since anyone could put whatever transaction fee with their transaction.
I typically send my transactions with a 0.0001 BTC fee so that's around $0.19 if I had to get it calculated in USD.

$0.19 is not that much compared to most posts within this forum that complain on their fees being $1 or more.

My transactions get confirmed without any issues, I just accelerate my transactions and most get confirmed within 24 hours or less.

May I know which wallet you are using? Because here I am using coinbase wallet. It consumes 0.00059 btc as fees for the transaction. It's getting confirmed in 40 minutes but fees seems to high for me. If you let me the wallet you are using. Then I will able to save some amount from the high fees I am using.

I am using blockchain it self. It takes more thsn 12 hrs before my transaction was confirmed. Plus the fact that i pay more than $1 at that time. I usually send amounts during fridays
Changing wallet doesn't change the fact that the actual requirements for your transaction to be confirmed fastly is the fee and be sure to set it up above the current recommended rate. Whether it's blockchain.info, coinbase, or another shitty online wallet, it's all the same because if you just give the right amount of fee which matches for your transaction's size, it'll get confirmed fastly.
jr. member
Activity: 86
Merit: 5
nobody replied as to why my transaction showed plenty of confirmations which i never received on coinbase, nor explained why the money is still in blockchain. id gladly give someone $1 worth of bitcoin who can help. cant afford more seeing i paid close to $1 or more twice already off the same $40 which is still not enroute. if the money was marked "transferred" how can the money still be in my blackchain wallet and how could the same money be sent twice?

i tried their support, they essentially just sent the form letter stating the delays. ignored basically everything i typed, then didnt reply
hero member
Activity: 602
Merit: 500
Three days plus now, still have my Bitcoin stuck in Blockchain. So unfortunate the way the whole thing is going.
The fact that the infrastructure is overwhelmed is enough to make the price crash but unfortunately it keeps going up and further putting pressure on the system.

Increase in the fee is not what will make bitcoin crash. Its the miner fee which has to be paid as the block reward was halved last year, so this was expected. Also we see high fee as bitcoin prices are higher so if you convert fee , it will be higher too.
hero member
Activity: 910
Merit: 500
Unconfirmed transaction every friday to sunday is crazily high. I dont know if there is a manipulation happening but i just cant stand to it. We need to solve this kind of problem
Well, the transaction fee is not the real issue since anyone could put whatever transaction fee with their transaction.
I typically send my transactions with a 0.0001 BTC fee so that's around $0.19 if I had to get it calculated in USD.

$0.19 is not that much compared to most posts within this forum that complain on their fees being $1 or more.

My transactions get confirmed without any issues, I just accelerate my transactions and most get confirmed within 24 hours or less.

May I know which wallet you are using? Because here I am using coinbase wallet. It consumes 0.00059 btc as fees for the transaction. It's getting confirmed in 40 minutes but fees seems to high for me. If you let me the wallet you are using. Then I will able to save some amount from the high fees I am using.

I am using blockchain it self. It takes more thsn 12 hrs before my transaction was confirmed. Plus the fact that i pay more than $1 at that time. I usually send amounts during fridays
Ucy
sr. member
Activity: 2674
Merit: 403
Compare rates on different exchanges & swap.
Three days plus now, still have my Bitcoin stuck in Blockchain. So unfortunate the way the whole thing is going.
The fact that the infrastructure is overwhelmed is enough to make the price crash but unfortunately it keeps going up and further putting pressure on the system.
legendary
Activity: 1428
Merit: 1000
Now you're getting it. Don't spend $1 to send $20. Spend $1 to send $100 or more.

This shows that bitcoins are no more attractive for doing any smaller transactions. This also gives a clear indication that another altcoin got a good potential for these smaller transactions.

its true some wallet auto set fees too high. should check carefully before send


Recently XAPO has introduced fees for outgoing transactions and they will decide the two kinds of fees and give you an estimated amount of fee. The minimum amount of fee itself is more than $1 to send any small amount. That's why I'm trying to use ETH for my smaller amount transactions.
newbie
Activity: 32
Merit: 0
its true some wallet auto set fees too high. should check carefully before send
full member
Activity: 206
Merit: 100
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?
How is it completely uncalled for? This is what happens when the block reward gets lower. Miners want more money and they are willing to do whatever they want to achieve that.
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
Now you're getting it. Don't spend $1 to send $20. Spend $1 to send $100 or more.
hero member
Activity: 966
Merit: 535
I paid a $1 fee for 0.02 BTC about 6 hours and I am still waiting. Do you guys think this is going to become a huge problem or will it be ok ?

I've have to agree the price for fees has grown too much. With bitcoin rising i expected it to go down again, but it seems to me the network is not stable yet.
Which make the fees going up... daily.

The fees have forced me to take out bigger investments and make larger trades. I just can't justify sending less then $20 if I pay $1 fee that is 5% and much too high so my transactions have usually been about $40 . It was much nicer when I could send smaller amounts even a couple dollars and pay s low fee I didn't waiting for hours or even over night. Now I can't do that even with the normal fee it just won't even process. It's horrible ;(
hero member
Activity: 896
Merit: 1000
Live Stars - Adult Streaming Platform
I've have to agree the price for fees has grown too much. With bitcoin rising i expected it to go down again, but it seems to me the network is not stable yet.
Which make the fees going up... daily.
jr. member
Activity: 86
Merit: 5
i dont really care so much about the fee, but i do wish my money to come QUICKLY. to avoid being seen gambling online, when taking money off on coinroyale, im sending it to my blockchain wallet. then from there i transfer it to coinbase. yesterday (last night after midnite) the $40 i withdrew from coinroyale arrived very fast, im not sure how coinroyale processes them so fast without delays.

But heres the problem. i went to send it to coinbase (so i could put it in my bank), i paid the much higher miner fee, (like $1.17 on close to $40) said it should be in 10 minutes instead of 20. well i never got the coinbase email, and the money never arrived. so when i login to blockchain today, i see the money still listed in there in my balance, so i try sending it again.

but it turns out the money isnt there, and the balance total is just to fool me?? for now i see 2 transactions (of the same money twice) marked as pending transactions, of slightly different amounts, both of the same $40. how do i fix this? neither of which are ever enroute to coinbase of course. what will eventually happen, will i get the money back and the fee back if its never sent, and how do i avoid this in the future?
hero member
Activity: 2814
Merit: 734
Bitcoin is GOD
I think this is not too ridiculous considering bitcoin is in its all time high value at this moment and continue to rise day by day, you can customize the fees in some desktop wallet like mycelium if you want but expect it may take time to confirm from 1-4 days..

Really?
So you're ready to pay 5$ in fees when you buy a vpn subscription for 8$?
Let's say bitcoin reaches 1 million and every transaction cost 500$.

Are you still going to use bitcoin? I doubt it.

We will need to find workarounds for it, instead of paying one month of whatever service you want to pay you could pay a full year if you have tested the service long enough, you could exchange your money to LTC instead and pay with it that way you could save on fees.
newbie
Activity: 43
Merit: 0
the $0.85 transaction fee is absolutely ridiculous we know but blockchain is mess up!
i deal with buyers using their own wallet platform, blockchain to blockchain and coinbase to coinbase to avoid
unconfirmed coin in wallet, i'm tire of using bitpie app to acelerate the coin...
legendary
Activity: 954
Merit: 1000
You simply claim that $0.85 transaction fee is absolutely ridiculous, but how about $2,000 bitcoin price?  Smiley

If it's growing that much, the fee increase is also okay to me.

Thats not the right way to see it. If I am a person new to bitcoin and wish to use it, I can't rely on the past price, as thats probably not the price what I acquired it for. I will still be paying 0.85$ for a smaller transaction which is still a lot based on any standards.
sr. member
Activity: 2268
Merit: 275
Fee for each bitcoin transaction from time to time always rising even send with low amount. Sending with high fee not guaranteed will get confirmed directly.
full member
Activity: 139
Merit: 100
You simply claim that $0.85 transaction fee is absolutely ridiculous, but how about $2,000 bitcoin price?  Smiley

If it's growing that much, the fee increase is also okay to me.
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