well now really different from Xapo though, they charged you for 0.00050331($0.778) for outgoing transaction
i dont really think ridiculous about it, cause the bitcoin price is at the peak right now
Topic: $0.85 transaction fee is absolutely ridiculous! - page 27. (Read 24270 times)
Fee is very high in bitcoin right now to make micro transactions but if you are sending over $100 in bitcoin paying 1$ in fee can still be considered as cheap.
Mempool is full with spam transactions to increase transaction fee in ridiculous manner, when this types of attacks will be over fee will get lowered to the level it was few days ago.
Mempool is full with spam transactions to increase transaction fee in ridiculous manner, when this types of attacks will be over fee will get lowered to the level it was few days ago.
Something really needs to be done about the pricing. It's really high at the moment and I think we need to do something about this. I use Bitcoin to gamble and it's unreasonable to spend an extra dollar or half a dollar on a 2$ or 5$ bet. It will drive people's interest from Bitcoin in the long run if something is not done to address the issue.
it is too much. its more of a rippoff to me
Start using LTC instead , where the transaction fees are pennies if that.
BTC high transaction fees are going to kill it as a way to transmit money.
Have been thinking about this from quite some time now and my friend's circle shifted from Bitcoin to litecoin recently. Now the price of litecoin sky rocketed, don't wanna use it for simple purposes, it's becoming mini Bitcoin now.
Start using LTC instead , where the transaction fees are pennies if that.
BTC high transaction fees are going to kill it as a way to transmit money.
It is very very ridiculous and you need to accept it. You can lower the fee if you want but I'm scared your transaction will never be confirmed. People will change the top crypto soon, believe me
This is a real problem. If you have to spend 3 or more inputs, the fees will be really high and aggravated by the price of bitcoin really high right now. Since there is no real solution yet coming from the devs, the only work around is to avoid having small inputs. Inputs below 100K sats will just incur more fees when spent.
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?
No you're not the only one who realizing this kind of matter mate. 220 sats/byte is the high priority fee as of now right? Let's say your transaction size is 500 bytes you will have to pay BTC0.0011 or $1.73! plus the waiting time for block is 15-30mins is unreasonable unlike in other payment processors you don't have wait and pay a high fee to buy goods in internet. Core dev must work a solution on this problem This is getting insane and is completely uncalled for, or am I wrong?
$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.
The transfer rate has always been high, which makes us feel this with greater intensity is what many have already said, bitcoin high price. But you can change that, but confirming the transaction will take longer.
If the purpose of your multiple transaction was gambling. Then try ETH instead of using Bitcoin since many gambling site already accept altcoins especially ETH. ETH only requires low fee for an instant transaction rather than bitcoin which is very slow. I am just using bitcoin for saving purposes because it's price
is inflating.
is inflating.
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?
At the present time, the BTC transaction fee is slightly higher so that small transactions can be carried out. Hopefully, it will be improved in the future with the strength of the community.This is getting insane and is completely uncalled for, or am I wrong?
Am I the only one realizing that ~$1 fee to make a transaction is absolutely insane and defeats one of the core benefits of using bitcoin for daily transactions.
This is getting insane and is completely uncalled for, or am I wrong?
Actually if you will not base the amount of fee you are sending based on the price, it's still the same but considering that the price has gone up then it's to be expected. The only think that I wish would change is how transactions usually takes too much time to confirm and that makes it not worth to pay almost 1$ fee to still wait for your money so you can spend it. This is getting insane and is completely uncalled for, or am I wrong?
With the increase in BTC price in USD, and also increase of fee in BTC, both factors caused the high fee in USD. However, if you can generate the transaction yourself and you are not in a hurry, you can set a much lower fee like 100 bits (~ $0.16). To me 100 bits is a reasonable fee- it was $0.04 or $0.05 a year ago...
http://coincap.io/
Average Fee
$1.61
https://btc.com/stats/unconfirmed-tx
The current best transaction fees 199 Satoshis/byte | 0.00199 BTC/KB
0.00199 = 3.19 USD
https://bitcoinfees.21.co/
Which fee should I use?
The fastest and cheapest transaction fee is currently 200 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 45,200 satoshis (0.75 USD).
Where did you get the "because fees are still $0.4-$0.5"?
Average Fee
$1.61
https://btc.com/stats/unconfirmed-tx
The current best transaction fees 199 Satoshis/byte | 0.00199 BTC/KB
0.00199 = 3.19 USD
https://bitcoinfees.21.co/
Which fee should I use?
The fastest and cheapest transaction fee is currently 200 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 45,200 satoshis (0.75 USD).
Where did you get the "because fees are still $0.4-$0.5"?
the numbers you are quoting are fee per byte not fee.
if you don't do Address reuse and don't receive a lot of dust inputs from things like faucets and microjobs then your wallets stays clean of dust and when you want to spend bitcoin your transaction size will be about 220 byte (give or take). and with a 199 Satoshis/byte fee your total fee would be 43780 satoshi and that is $0.7 with the current $1600 (my calculation was with a lower bitcoin price because I forgot to check the current price of today! and $1600 was reached today)
in any case it is still not $0.85 and not $1 and not $1.61 or $3.19
Yeah, you both have a point, but should be aware everyone makes different types and sizes of txs. Personally, no spend I've ever made has had more than 40 satoshi per byte, but I do recall paying a 100k+ satoshi fee once for an unfortunately bloated tx. Price was just over $1,000 at the time so I paid over a dollar.
That been said, the majority of bitcoin I received especially in 2017 has had a fee well over 120 satoshi per byte with actual fee as high as 2 dollars at today's rates. In fact, if my withdrawals are part of batch txs I've easily seen 4 or 5 dollars fees. One particular site I withdraw a lot from spent over 1 BTC a day in fees alone, performing only batch txs.
Where did you get the "because fees are still $0.4-$0.5"?
Maybe he's using the web wallet from blockchain. The wallet sometimes suggests you to send a miner fee of 0.00027 btc ($0.45) I stopped trusting their recommended fees because sometimes my transaction size could be above 500bytes. http://prntscr.com/f4d4tp
Yes, that could be the case, I have similar experience with blockchain wallet. But on the other hand ignoring recommend fees could lead to problems with transactions confirmation. Although if you look at today's numbers there are so much unconfirmed transactions, seems there is some problem with Blockchain again, no matter the amount of fee.
I don't see a problem. Bitcoin is not going to be used to buy lattes, its more like the crypto version of holding gold. What we need is a good altcoin to take over the function of currency for daily use whether its ETH, XEM, or some other one. Stop making small transactions and use it as a store of value instead.
I actually completely agree with this statement, but I question anyone who claims bitcoin was never intended to be an every day digital currency. I think that's exactly what the intentions were. Just my opinion though.
We've seen some big exchanges add certain altcoins alongside Bitcoin, it's only a matter of time before merchants do the same.
But we'll see...
Honestly who the hell cares. It's up to you sending a bigger or smaller fee, if you can't afford spending $1 dollar for a transaction then stop using BTC or deal with the fact that your transactions are never gonna be confirmed.
I sent like $3 as a fee for a 0.14764921 transaction yesterday and I think that's extremely low compared to the size of the transaction. I don't care about fees, you only get "fucked" if you send a small transaction.
I sent like $3 as a fee for a 0.14764921 transaction yesterday and I think that's extremely low compared to the size of the transaction. I don't care about fees, you only get "fucked" if you send a small transaction.
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 getting insane and is completely uncalled for, or am I wrong?
Actually what you need to do in order to avoid this high transaction fees is to change the bitcoin wallets that we are using, because the transaction fee in the blockchain is way too much unfair, especially to those who are earning bitcoin that is not that big, condolence to those FAUCETS users, better not to use this and try other wallets, and also try a new way on how you guys are going to earn bigger amount of bitcoin, I've been there, done that, that is why I'm saying to you guys that FAUCETs is not worth of your time.
I'd rather joing the Social Media Campaign here or the Signature Campaign here in this forum than to do FAUCETs where I could only earn a little.
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