$0.85 transaction fee is absolutely ridiculous! - page 8.

stompix

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Blackjack.fun

Quote from: RealBitcoin on June 04, 2017, 02:00:38 PM

1$ fee? Soon it will be 1000$ to send a TX through.

But it actually wont even hit that because all BTC users will just go to cheap coins like Dash or others. Nobody has money to spend on huge fees. I'd rather just use Wire Transfer then, what is the point of BTC if the fees are huge?

I've been hearing that for months and when I look at the number of transactions done via altcoins I can only laugh.
Daesh? Who the hell will use it? For what?

To transfer daesh to somebody then use it to buy bitcoins and then use it to buy fiat?
That's the only purpose all altcoins serve at the moment.

Hazir

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★Nitrogensports.eu★

Scaling solution is announced and shall take place in August. If done correctly it should significantly lower transaction fees.
Until then I would recommend that you don't use Bitcoin for low priority transactions, use other means of payment instead.
Paying $1.5 when you want to send $10, while waiting a day for the confirmation is not worth it.

1Referee

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Quote from: RealBitcoin on June 04, 2017, 02:00:38 PM

1$ fee? Soon it will be 1000$ to send a TX through.

But it actually wont even hit that because all BTC users will just go to cheap coins like Dash or others. Nobody has money to spend on huge fees. I'd rather just use Wire Transfer then, what is the point of BTC if the fees are huge?

It won't stay like this for ever. Bitcoin right now badly needs Segwit to be activated in order to cope with the demand. After Segwit is activated, Lightning Network will make most people here very happy. Not only will Bitcoin be able to process an insane amount of transactions per second, but the most interesting thing for me is that miners will lose their importance when it comes to being the central point in allowing people to transfer value from one place to another. No longer will they form an obstacle in the way that they ignore transactions with a lower fee. End result - Lightning Network is great for the users, and not so much for the miners themselves. Exactly how I like it - they caused enough damage already.

TrissMerigold

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Bitrated user: Olysikes1. Authenticate

and again , but this time im using coinomi wallet just send deposit on nitrogen 44$ and have to pay 6$ fees lol , and guess what ? its still low priority , high priority cost like 7$ .. btc is slowly dying if they keep this ridiculous fees Embarrassed

megynacuna

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Quote from: Shenzou on June 04, 2017, 08:39:24 AM

The whole point of paying extra fees is to make transaction faster, the more you pay the faster you send bitcoin, but the probelm now is that everyone is paying fees which means that all the transaction have the same priority, so there is no point in paying them

You have a point pal, what's the point if we all pay high fees and still gets delayed confirmations? Does that mean we have to raise it higher for some people to stay behind before we can get quicker confirmations? This really sucks and needs urgent addressing.

RealBitcoin

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JAYCE DESIGNS - http://bit.ly/1tmgIwK

1$ fee? Soon it will be 1000$ to send a TX through.

But it actually wont even hit that because all BTC users will just go to cheap coins like Dash or others. Nobody has money to spend on huge fees. I'd rather just use Wire Transfer then, what is the point of BTC if the fees are huge?

cluit

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Quote from: jekjekman on June 03, 2017, 05:54:02 PM

Quote from: Pearls Before Swine on June 03, 2017, 05:49:06 PM

As of this moment, I'd be happy to pay just $0.85 to send bitcoin. Just last week my wallet was asking for around $5 to send about $175 worth of bitcoin, and that's just crazy. I think that from the time this thread got started, the fees have skyrocketed because the price of bitcoin has skyrocketed. Wish I could have bought what I needed to with Dash or something similar. Those fees are pretty reasonable.

As My experienced, I sent a $8 worth of bitcoin with a $1.75 transaction fees and I just completed the sending earlier this day, I sent it may 20 though. So hard to understand what is happening right now but I got so much output in my payment that is why I have a big tx fees but the waiting time take me 2 weeks to be done, so fraustrating.

Those huge wait times on Bitcoin from the week before are making people reevaluate the system and the needs of the system to update is must. We cant go on long with high fee and still high confirmation times.

Dudeperfect

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Well even though I am noticing a much better improvement in transaction confirmation time, I still believe that we should find a concrete viable solution for this high fees issue. I want bitcoin to become popular as a medium of exchange of values and if the fees will keep increase at this rate then sadly it will be called as mere medium of storage of values. Many people would join us once we find a way to control the high transaction fees.

FasTroy

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Quote from: Shenzou on June 04, 2017, 08:39:24 AM

The whole point of paying extra fees is to make transaction faster, the more you pay the faster you send bitcoin, but the probelm now is that everyone is paying fees which means that all the transaction have the same priority, so there is no point in paying them

I think you are right, There is no point when people pay high fees to accelerate their transactions, it can affect a lot of peoples and increase miner fees slowly.
The current Miner fees now according to bitcoinfees.21.co is around 0.001 btc. The fastest and cheapest transaction fee is currently 420 satoshis/byte.
It's too high. by the way I'am a user of xapo, and when i decide to make a transaction, i reflect 10 times before because of fees.

Shenzou

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The whole point of paying extra fees is to make transaction faster, the more you pay the faster you send bitcoin, but the probelm now is that everyone is paying fees which means that all the transaction have the same priority, so there is no point in paying them

crwth

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https://linktr.ee/crwthopia

Quote from: szpalata on June 04, 2017, 02:52:32 AM

Quote from: Shinpako09 on June 04, 2017, 01:49:10 AM

It's too high for a small bitcoiner. It cost around $4-$5 now for a normal transaction fee so even if it's annoying to wait for how many hours or even days i'm using low-prio fee in mycelium. I'm just using normal fee when selling if not I prefer low prio.

Well we have to accept it as it is and move on because the transaction fees were made to be directly proportional to the increase of Bitcoin's value and so if it's going up andvtheres a corresponding increase in bitcoins prices I think we should of accept and move on because I used to whine about the high prices too but I think it's conebto stay so I'm not worried anymore.

You could see a positive side on all these because there are people still willing to pay at that amount and see that they are going to make it into the network with high confirmation rates. People are still using it makes it more awesome because Bitcoin is getting news from everywhere and its price is getting higher and higher. I don't know what will happen after August 1, introducing the soft fork. We will see.

hotsurfing

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Bitcoin and Eth were nice experiments. Time to go to greener pastors. Iota = no fees and is quantum resistant so that means I can sleep better at night 😃

szpalata

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Quote from: Shinpako09 on June 04, 2017, 01:49:10 AM

It's too high for a small bitcoiner. It cost around $4-$5 now for a normal transaction fee so even if it's annoying to wait for how many hours or even days i'm using low-prio fee in mycelium. I'm just using normal fee when selling if not I prefer low prio.

Well we have to accept it as it is and move on because the transaction fees were made to be directly proportional to the increase of Bitcoin's value and so if it's going up andvtheres a corresponding increase in bitcoins prices I think we should of accept and move on because I used to whine about the high prices too but I think it's conebto stay so I'm not worried anymore.

Shinpako09

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It's too high for a small bitcoiner. It cost around $4-$5 now for a normal transaction fee so even if it's annoying to wait for how many hours or even days i'm using low-prio fee in mycelium. I'm just using normal fee when selling if not I prefer low prio.

Raja_MBZ

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Quote from: TryNinja on June 03, 2017, 03:56:08 PM

Quote from: zonik on June 03, 2017, 03:53:39 PM

Eth was not meant to make payments the way bitcoin was.

https://medium.com/@edmundedgar/why-ethereum-is-great-for-payments-ee80c5cb912a
"Ethereum is a great technology for sending people money on the internet. Maybe it wasn’t supposed to be, but it is."

Ethereum seems pretty good to me now as well, I now switch my profit of Polo & Bittrex wallets through Ethereum, instead of bitcoin. Super-fast & very cheap.

To me, now it seems like ETH can be a good alternate to bitcoin in payment processing as well.

Dabs

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The Concierge of Crypto

Quote from: richardsNY on June 03, 2017, 12:33:01 PM

Quote from: Dabs on June 02, 2017, 08:18:32 PM

I notice that with the current version of Core (0.14.1) there is no 1 block estimate anymore. The lowest estimate (fastest) is 2 blocks. If you look at the numbers closely, bitcoinfees.21.co is just slightly higher than what you have on your Core client. Depending on the transaction sometimes I use whatever value is displayed there and add a satoshi to the total, or a satoshi to the fee per byte. The tx will get included quickly either way.

As far as I can remember, Core has always given me a 2 block estimation. On one of my machines I still have v0.12.1 installed (have been too lazy to update -- will do right now), and here it also just gives you a 2 block estimation. What Core client did you use that gave you 1 block estimations?

I don't remember, but I would regularly go to the console window and type estimatefee. Perhaps it was a much older version.

I've stopped looking at that and just use bitcoinfees... https://bitcoinfees.21.co/api/v1/fees/recommended and keep that window open. Before doing any transaction, I refresh that page.

jekjekman

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Quote from: Pearls Before Swine on June 03, 2017, 05:49:06 PM

As of this moment, I'd be happy to pay just $0.85 to send bitcoin. Just last week my wallet was asking for around $5 to send about $175 worth of bitcoin, and that's just crazy. I think that from the time this thread got started, the fees have skyrocketed because the price of bitcoin has skyrocketed. Wish I could have bought what I needed to with Dash or something similar. Those fees are pretty reasonable.

As My experienced, I sent a $8 worth of bitcoin with a $1.75 transaction fees and I just completed the sending earlier this day, I sent it may 20 though. So hard to understand what is happening right now but I got so much output in my payment that is why I have a big tx fees but the waiting time take me 2 weeks to be done, so fraustrating.

Pearls Before Swine

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Activity: 1190

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As of this moment, I'd be happy to pay just $0.85 to send bitcoin. Just last week my wallet was asking for around $5 to send about $175 worth of bitcoin, and that's just crazy. I think that from the time this thread got started, the fees have skyrocketed because the price of bitcoin has skyrocketed. Wish I could have bought what I needed to with Dash or something similar. Those fees are pretty reasonable.

Zaun

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Forza Roma

Quote from: zonik on June 03, 2017, 03:53:39 PM

Quote from: Alicia Keys on June 03, 2017, 07:00:00 AM

Now is more expensive because of bitcoin's rise, I worry about less ppl will use ETH instead. It is crazy to pay so much as fee.

Eth was not meant to make payments the way bitcoin was.

Well it's not because bitcoin's rise. I am sure 100% of the users would accept bitcoin's inflation rate as increase. The problem is that the mempool is too large and miners choose higher fees transactions which makes it a battle of who can afford the most to pay.. which is wrong if you ask me. Bye bye micropayments.

jekjekman

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Quote from: Shenzou on June 03, 2017, 12:55:54 PM

The fees are totaly insane, i have an Xapo wallet i wanted to send 10$ worth of bitcoin and the standerd fees were about 5$, is thnis really what bitcoin has come to these days are we going have to pay 50% of the transaction as fee for miners, in this case using bitcoin will have no point we will be better off using PayPal or other payment methods that has fixed fees

Because you have a big bytes in your transactions output that is why you pay $5 worth of bitcoin, the more output of your tx the big bytes will you be getting, I guess you got it from a faucet or many other different small payments.

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