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Topic: ♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨ - page 2. (Read 1411 times)

newbie
Activity: 89
Merit: 0
alta, ridicula, btc vai morrer assim.
BCH E OUTRAS COIN DE FORK DOMINARAM
member
Activity: 196
Merit: 10
Too expensive a fee will clearly hinder further development of bitcoin, such as small payments, trading speeds and so on. I believe the community will solve this problem in the future.
sr. member
Activity: 658
Merit: 250
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


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 Smiley
full member
Activity: 168
Merit: 120
Yeah definitely the fees are just too much it even costs much higher than transaction of other remittancebor money sending firms. Which is why it's hindering the growth of price of bitcoin because its a bit of discouraging especially to its users who have been with bitcoin for a long period of time.
full member
Activity: 196
Merit: 100
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


I was worry with this fee and very long transaction. What will happen if those two thing continue happening?
It will affect to bitcoin itself about price. Marketcap also will decrease if it continue happening in future.
full member
Activity: 448
Merit: 100
DOMINIUM - Decentralised property platform
We could not deny bitcoin fees is quite high because of its market price. Exchange market for instance would ask such amount for the blockchain transaction you made so i think it's better to transact big than transact a little amount where almost half of the amount being transacted goes to the charge fee.
newbie
Activity: 30
Merit: 0
ETH is also slow nowadays. Kitties were enough to kill the network Cheesy
I think that LTC is now the quickiest way to send money. I have never waited more than 10 minutes to transfer them. Fee is also very low and all exchanges accept LTC. BTC has never been meant to allow many transactions. I do not know if it is even possible to increase its capacity to the level of VISA or MasterCard.
newbie
Activity: 6
Merit: 0
Quote
That's only $1.70 at current price

You are the first person I have heard say the fee is under $2. Can anyone else confirm how much the fees are right now? I thought much higher

Use ETH  Grin
newbie
Activity: 14
Merit: 0
Quote
That's only $1.70 at current price

You are the first person I have heard say the fee is under $2. Can anyone else confirm how much the fees are right now? I thought much higher
legendary
Activity: 2968
Merit: 3684
Join the world-leading crypto sportsbook NOW!
Quote
Suggest that we all use sewgit address, you can save fees about 50%

So how much does it cost using "SegWit" at the moment? Fees on bitcoin are around $35. Is SegWit still costing around $17.50?

It doesn't cost anything to "use SegWit". What he means is that you should now look to use wallets with that can support it. Nodes that see your transaction will then see it as slightly smaller in size, so the fees you pay for the transaction become essentially become more efficient.

Fees on Bitcoin are NOT around $35. There is no fixed amount of fees, the effective fee you end up paying is completely based on the size of your transaction. For me, almost all of my spends have 1 input, at most 2 or 3. This means the majority of my transactions are around 225 bytes. To get an almost guaranteed confirmation within the next block at current conditions, this means I would need to pay under 10,000 satoshis as a fee (for an effective fee of 391 satoshis per byte based on https://bitcoinfees.earn.com/).

That's only $1.70 at current price.
full member
Activity: 224
Merit: 100
That's right fees are too high, I'm trying to transfer my funds to my other wallet but I will lose a lot of money because of the fee so I decided not to transfer at all, it's really a waste.Hopefully they can do something with this fee problem. One of the advantage of bitcoin is easy transactions but with this high fees,it's now painful in the pocket.
member
Activity: 70
Merit: 10
Surely this transaction fee issue will be a big problem if BTC price keeps increasing (and it probably would) in the future. The Lightning network can't come soon enough.
hero member
Activity: 3052
Merit: 651
It is a problem ages ago.
Some of us here are already used to it.
Hell even when Ethereum also increased their gas price just so to complete the transaction, we are used to it.
This is a problem with users also. Those who made too many transactions with just a little amount to pay are stucked there. Now, whose miner would want complete that?
You will understand this once you understand the miners. Pfft. Pay enough and the service will be done.
newbie
Activity: 14
Merit: 0
Quote
Suggest that we all use sewgit address, you can save fees about 50%

So how much does it cost using "SegWit" at the moment? Fees on bitcoin are around $35. Is SegWit still costing around $17.50?
newbie
Activity: 14
Merit: 0
Why are bitcoin transactions already getting clogged when only 1% of the world is using bitcoin?

Shouldn't bitcoin be able to handle more than 4 transactions per second? This seems very inefficient

I can't think of any solid reason to pay such absurd fees and wait such long times, unless doing illegal/sketchy purchases :/
full member
Activity: 168
Merit: 100
Try to send $60 worth bitcoin charged me $10.50 for it, been 24 hours still didn't receive it, lol what's going on?

Your transaction might be in clog thats why its taking to long to be verified in the network, you are not alone from this scenario there are many other who has been waiting for much more hours.
Thought they implemented lightning network already? this will reduce the fees and make the transaction much faster.
hv_
legendary
Activity: 2534
Merit: 1055
Clean Code and Scale
The CORE team and the BCH developers are still chattering about who is orthodox Bitcoins, but horrifying bank transfer fees have forced us to turn to BCH or other altcoin for lower transfer fees.

Yep, and so BitcoinSegwit market share plummed down.

Now, what do you expect if BCH could solve it?
legendary
Activity: 1078
Merit: 1014
sorry btc is too expensive for you to use, better go back to breaking rocks at the side of the road for 5 rupees a day or find a paid signature campaign
newbie
Activity: 56
Merit: 0
The CORE team and the BCH developers are still chattering about who is orthodox Bitcoins, but horrifying bank transfer fees have forced us to turn to BCH or other altcoin for lower transfer fees.
newbie
Activity: 78
Merit: 0
Suggest that we all use sewgit address, you can save fees about 50%

Indeed. This is the faster way to avoid this overfees
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