Topic: ♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨ (Read 1411 times)
Yes, the transaction fees are very high although transfers take too long. That's why I think if this problem is not solved, people will use other coins such as Ripple for sending money.
It is definitely ridiculous. I really hope that due to it's slowness and high fess bitcoin will become the second choice in exchange currency, giving way to lite coin which is a lot cheaper and a lot faster.
True the fees are making bitcoin very hard to use , if i want to move my money quick i prefer most other alts over bitcoin at the moment.
I just hope they get their shit together soon and come to a agreement which will help bitcoin back in the right direction.
Because at this pace bitcoin is on its way to become obsolete soon.
I just hope they get their shit together soon and come to a agreement which will help bitcoin back in the right direction.
Because at this pace bitcoin is on its way to become obsolete soon.
We need to find a solution to make it cost friendly at least for the offline market transaction because there are some things of daily needs are available at the cost of Bitcoin transaction fee so why would anyone use Bitcoin if technically he is getting something for free? Using Bitcoin for the overseas transaction is still my favorite option.
Well, I guess you're right. Buying single candy by bitcoins having a fee that can buy you a whole pack of the same candy really wouldn't make sense. Which is why using it for overseas transactions or for big amounts is the most preferable choice for me also. But as lightning networks improve more and more each day, I think this issue will completely turn around sooner or later. I just hope that it wouldn't have to take so much time before effects are experienced because the fees still hurt even when they have decreased already.
Then maybe you should save more bitcoin and not always transfer it always so that you can save more and earn more rather than always transferring bitcoin. Because of bitcoin popularity thats why they make transfer rate higher.
We need to find a solution to make it cost friendly at least for the offline market transaction because there are some things of daily needs are available at the cost of Bitcoin transaction fee so why would anyone use Bitcoin if technically he is getting something for free? Using Bitcoin for the overseas transaction is still my favorite option.
Bitcoin is now growing and it's possible to make good money on it, so invest in it until it falls down
I noticed the fees got a little better right now. I pay 0.30$ for a transaction that's 30 min -1 hour long and 3$ for a rapid transaction.
90% of all bitcoin owners have less than 0.1 BTC each
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
Litecoin, can send thousands of dollars for less than a penny....
Bitcoin Cash is cheaper by far and will get 32MB blocks soon. Asics are more secure so why LTC?
90% of all bitcoin owners have less than 0.1 BTC each
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
Litecoin, can send thousands of dollars for less than a penny....
Totally agree the fees are a joke
Agreed. The "store of value" arguments are mostly nonsense and an attempt to sweep the issue under the rug. Bitcoin was designed to be "the" peer-to-peer digital, decentralized cash system.
There is another system which is peer to peer cash. No worries. Just go use it.
High transaction fees will kill bitcoin, but remember even if lots of people have stopped mining, there will be a difficulty correction to maintain the amount of blocks created. The cost problem is because people are mining as a business to make money. My understanding of the original theory was go use latent processing power.
Bitcoin fees are main problem every bitcoiner feel fees to be regulated
Agreed. Almost everyone is bothered about it, and yet the core developers remain blind to this issue. Bitcoin is slowly losing the confidence of the users, and the alts such as ETH and BCH are using this opportunity to gain more users.
Bitcoin fees are main problem every bitcoiner feel fees to be regulated
90% of all bitcoin owners have less than 0.1 BTC each
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
I feel bad for Mc Donald's, really bad.
) They are gonna pay more on BTC fees rather than the hamburger
If this issue is not resolved any time soon
Bitcoin will be replaced by a superior coin
with better features and that has the solution
for the current problems.
It is a grave issue as what good will Bitcoin do
if a normal person can't use it to transfer money.
Bitcoin will be replaced by a superior coin
with better features and that has the solution
for the current problems.
It is a grave issue as what good will Bitcoin do
if a normal person can't use it to transfer money.
That is ridiculous but faucets and deposit sites have to make their money one way or the other just the way life works...
Agreed. The "store of value" arguments are mostly nonsense and an attempt to sweep the issue under the rug. Bitcoin was designed to be "the" peer-to-peer digital, decentralized cash system, and if it can't become this then more competent development is needed. Other coins can do it, I see no reason why bitcoin can't. Even if a hard fork is required, if the exact same balances of all coins are retained with no pre-mining, I can't see why this would be an issue.
90% of all bitcoin owners have less than 0.1 BTC each
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
the fees to transfer $100 worth of BTC cost around $25. that is outrageous
that means 90% of the owners cant even afford to transfer their coins without losing a lot of money
Yeah, currently that's right. However, BTC is investment tool at present. I think it is not used for payments. It is like a gold - you will never pay with gold
Some exchange wallets like XAPO even worst than others their transaction fees much higher than electrum or blockchain wallets. They used to be free long back but their charges are very high so I almost stop their wallet using.
In general, if this continues like this then many small amount transactions will shift to other altcoins like ETH or LTC.
Jump to: