a fee of 67,800 satoshis... dust is expensive !

eli113

sr. member

Activity: 358

Merit: 254

void

Quote from: stompix on September 14, 2017, 09:29:41 AM

Quote from: KEPLER99 on September 14, 2017, 09:22:29 AM

The rate at which the transaction fees has been increasing these days has been really surprising. I had my transactions stuck for almost 15 hours for two transactions, this got me really worried cos I thought I had lost my money.

Absolutely false!!!!
The fees are some of the lowest this year.
Estimated run at around 120 satoshi per byte right now and early in the morning (around 8 am gmt) bitcoinfees21 was showing 40 satoshi per byte.

So no, fees are decreasing blocks are not just getting empty but are starting to show more and more segwit tx.
So the initial post is no longer valid.

Check:
http://bitcoinfees.21.co/ or https://estimatefee.com/
If you're willing to wait 8 hours your fee for basic 2 inputs 2 outputs tx is 7 cents.

this post was not a claim i am a prophet .. Grin

THANK YOU ALL FOR POSTING.

things are going to normal , wish you all Happy hodling and a good life.
Elias.C.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: KEPLER99 on September 14, 2017, 09:22:29 AM

The rate at which the transaction fees has been increasing these days has been really surprising. I had my transactions stuck for almost 15 hours for two transactions, this got me really worried cos I thought I had lost my money.

Absolutely false!!!!
The fees are some of the lowest this year.
Estimated run at around 120 satoshi per byte right now and early in the morning (around 8 am gmt) bitcoinfees21 was showing 40 satoshi per byte.

So no, fees are decreasing blocks are not just getting empty but are starting to show more and more segwit tx.
So the initial post is no longer valid.

Check:
http://bitcoinfees.21.co/ or https://estimatefee.com/
If you're willing to wait 8 hours your fee for basic 2 inputs 2 outputs tx is 7 cents.

KEPLER99

full member

Activity: 448

Merit: 101

Quote from: eli113 on August 16, 2017, 09:29:15 AM

if i was a miner of bitcoins , this is awesome

if my daily microtransactions was into 10s of thousand dollars this is heaven Grin

you may reply , bitcoin is under spam attack , or you may object why i need to send/receive
bitcoins within minutes , or segwit and bip666 is coming but ...

and the price Rally making it more ridiculous , change amounts of 3+ usd$ are dust Huh

i am sorry because my text has no capital letters , thank god i am just a spectator here.

elias.c.

what a wonderfull world

The rate at which the transaction fees has been increasing these days has been really surprising. I had my transactions stuck for almost 15 hours for two transactions, this got me really worried cos I thought I had lost my money.

swscowods

full member

Activity: 419

Merit: 100

Quote from: eli113 on August 16, 2017, 09:29:15 AM

if i was a miner of bitcoins , this is awesome

if my daily microtransactions was into 10s of thousand dollars this is heaven Grin

you may reply , bitcoin is under spam attack , or you may object why i need to send/receive
bitcoins within minutes , or segwit and bip666 is coming but ...

and the price Rally making it more ridiculous , change amounts of 3+ usd$ are dust Huh

i am sorry because my text has no capital letters , thank god i am just a spectator here.

elias.c.

what a wonderfull world

That is very high, but that is what has been happening these days since when the bitcoin cash was launched it now seems that the fees for each transaction has been increasing and the one of the reasons I think is because miners are switching to bitcoin cash.

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: SONG GEET on August 26, 2017, 01:05:54 AM

Quote from: eli113 on August 26, 2017, 12:54:53 AM

ten days later...

bitcoin price at 4314 Grin

a fee of 118,480 satoshis now !!

have a nice day !

Elias.C

If you are sending $1000+ than paying $5 in fee isn't much if you compared with what paypal like usual payment gateway will charge for such transfer.

But it is true that bitcoin is no longer suitable for micro transactions till we will have lightening network.

Most of the people were used to make tiny transactions with bitcoins but now due to high charges, they have dropped the idea. I do not know what threat it poses to the future of bitcoins but I sincerely wish this problem to be sorted out very soon. For large transactions, it is still the best option, no doubt.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Even though at this time that we all agree that it is no longer suitable for micro payments, but its still something that should not be wished away because quite a number of transactions are borne out of micro transactions and if various updates, upgrade, activations or fork cannot accommodate those micro transactions, then its not living to its full expectations.

leonair

sr. member

Activity: 1400

Merit: 420

Quote from: tosmartak on August 26, 2017, 01:10:37 AM

Quote from: SONG GEET on August 26, 2017, 01:05:54 AM

Quote from: eli113 on August 26, 2017, 12:54:53 AM

ten days later...

bitcoin price at 4314 Grin

a fee of 118,480 satoshis now !!

have a nice day !

Elias.C

If you are sending $1000+ than paying $5 in fee isn't much if you compared with what paypal like usual payment gateway will charge for such transfer.

But it is true that bitcoin is no longer suitable for micro transactions till we will have lightening network.

It is obviously no longer suitable for micro transaction. I actually thought without the lightening network, things may still cool down a little bit compared to what we had before most especially after segwit was activated. So now, we have to wait for the lightening network! Hope that resolves it cause what will be the point of going mainstream without being able to micro-transact..

Yes it is, much better to send your transactions and hold your Bitcoin as soon as Segwit is fully activated because of that transaction fees that is so devastating right now when sending small amount of payment. How I remember that I am so happy when I first enter Bitcoin world last october of 2016 when I try to send a below $1 worth of btc for free and within less than 1 hr of waiting time.

tosmartak

sr. member

Activity: 630

Merit: 250

Quote from: SONG GEET on August 26, 2017, 01:05:54 AM

Quote from: eli113 on August 26, 2017, 12:54:53 AM

ten days later...

bitcoin price at 4314 Grin

a fee of 118,480 satoshis now !!

have a nice day !

Elias.C

If you are sending $1000+ than paying $5 in fee isn't much if you compared with what paypal like usual payment gateway will charge for such transfer.

But it is true that bitcoin is no longer suitable for micro transactions till we will have lightening network.

It is obviously no longer suitable for micro transaction. I actually thought without the lightening network, things may still cool down a little bit compared to what we had before most especially after segwit was activated. So now, we have to wait for the lightening network! Hope that resolves it cause what will be the point of going mainstream without being able to micro-transact..

SONG GEET

hero member

Activity: 700

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Quote from: eli113 on August 26, 2017, 12:54:53 AM

ten days later...

bitcoin price at 4314 Grin

a fee of 118,480 satoshis now !!

have a nice day !

Elias.C

If you are sending $1000+ than paying $5 in fee isn't much if you compared with what paypal like usual payment gateway will charge for such transfer.

But it is true that bitcoin is no longer suitable for micro transactions till we will have lightening network.

eli113

sr. member

Activity: 358

Merit: 254

void

ten days later...

bitcoin price at 4314 Grin

a fee of 118,480 satoshis now !!

have a nice day !

Elias.C

eli113

sr. member

Activity: 358

Merit: 254

void

if i was a miner of bitcoins , this is awesome

if my daily microtransactions was into 10s of thousand dollars this is heaven Grin

you may reply , bitcoin is under spam attack , or you may object why i need to send/receive
bitcoins within minutes , or segwit and bip666 is coming but ...

and the price Rally making it more ridiculous , change amounts of 3+ usd$ are dust Huh

i am sorry because my text has no capital letters , thank god i am just a spectator here.

elias.c.

what a wonderfull world

Topic: a fee of 67,800 satoshis... dust is expensive ! (Read 501 times)