♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨ - page 5.

lasry

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Quote from: reck1ess on December 11, 2017, 02:26:58 AM

Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

Right now, fees are even higher than you transaction. I was trying to send around $5 to external wallet but thwn the fee is $8. Fees are getting crazy.

those fees are what really annoys me most. Its really hard to transact now compare to years ago. Those people regulating these fees are trying now to abuse the soaring price of bitcoin. I hope they stop their greediness someday.

Lancusters

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Quote from: Gotottack on December 11, 2017, 04:51:30 AM

Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

This is a common sentiment of every bitcoin user, even the ones that has a lot of bitcoins. This is because a lot of users still do make small transactions even if they are extremely bitcoin rich. For example, if they want to buy a VPN subscription with bitcoins for themselves then it would cost like $100 per year then another, like you said, $25 for the miner's fee. Probably the segwit2x people are on to something. Likely another talks about another fork will occur due to this.

Such a high price per transaction forces the user to make small transactions. I personally have long put the coins in large amounts on the exchange and from there deduce the Fiat to a Bank card. Funny but it turns out that bitcoin itself forces users to use Fiat. It contradicts the idea of creation of bitcoins.

Dasvoni

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18sekC3fMf3VDBo8QsYiYQjV51cvaqvQ1a

imagine if bitcoin reach $1,000,000 how much is the fees? Grin

btcprospecter

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★777Coin.com★ Fun BTC Casino!

This is certainly going to present a problem for bitcoin and as many find out this they won't want to invest any more. Like others have said you could get cheaper fees but it would take longer. What's the point of that if the whole idea was for almost instant transactions.

Gotottack

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Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

This is a common sentiment of every bitcoin user, even the ones that has a lot of bitcoins. This is because a lot of users still do make small transactions even if they are extremely bitcoin rich. For example, if they want to buy a VPN subscription with bitcoins for themselves then it would cost like $100 per year then another, like you said, $25 for the miner's fee. Probably the segwit2x people are on to something. Likely another talks about another fork will occur due to this.

VitKoyn

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Activity: 490

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Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

How did you know that 90% of Bitcoin investors only have 0.1 Bitcoin each? lol. For now there is nothing we can do about this matter, because whenever Bitcoin price increases transaction fees will increase as well because there are lots of people who wants to make transactions which becomes the cause of congestion in the mempool and we can not do anything but to pay large transaction fees if we want our transactions to confirmed immediately and that's annoying, let's just wait for the lightning network mainnet to be released and I really think that this off-chain solution can solve this problem, I hope it will be available anytime soon.

crisnel26

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Future of Gambling | ICO 27 APR

Yes it is. Because fee's are constant in every exchange sites and we cant do anything about it.

btccointalk

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Yes, it is too high. It should be reduced soon so that it does not become a hindrance on the progress of bitcoins.

Juggy777

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Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

While I agree that the fees are high sometime this happened with me, on three occasions I had to transfer 1k each via Bitcoins, so first I incurred a 12$ fee, second time 6$ and third 1.45$. From what I understand is that during different time's there are different fees charged best is to transfer in the middle of the night and then see the difference, all you need to change your time of transactions and you'll benefit, check this method and post here.

Pursuer

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Where is my ring of blades...

Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

90% of all bitcoin owners have less than 0.1 BTC each

you don't know that because "bitcoin owners" don't hold a flag telling the public how much bitcoin they own. all you saw is some stats on some website telling you how much each transaction output is worth and at least half of them are change addresses and the other half is the result of the spam attacks against bitcoin network.

Quote

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

the cost of sending a bitcoin transaction which can be $1 worth or $1,000,000,000+ is worth the same and it is worth $12. that is with current bitcoin price. maybe you think bitcoin is worth $35,000 I don't know!

RawDog

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Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

Simple solution: use the real Bitcoin. Real Bitcoin has near zero fees. It always has. Bitcoin.com

hilda483

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Activity: 125

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Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

Too damn HIGH! You sned 25$ and you pay 5$ what the hell? Is it a bank in disguise or something? I feel you man, this is indeed outrageous.

hugeblack

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Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

bitcoin has a massive demand lest 7 months, a lot of people start saving some BTC, compressing on network and high fee to be confirmed.

you win fast free money without making anything, 100$ will be 120$-170$ so when paying 25$ for the fee it’s mean you send 100$ with 0 extra money right?

Realist247

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Quote from: jseverson on December 11, 2017, 03:18:33 AM

Quote from: ShortCoins on December 11, 2017, 02:45:11 AM

This is supposed to be the money of the future.

I personally don't want to wait a week and pay 25% fee. That's some bullshit

Yep. And people choose to believe that statement despite all these glaring flaws because they know that in the grand scheme of things, Bitcoin is still in its infancy. Bitcoin has a community and a group of developers that are trying to ensure that Bitcoin evolves with the times. That part has hit a snag partly because of Bitcoin's explosive boom, but I have no doubt in my mind that these problems will be solved eventually. For now, I'm willing to wait it out.

They've had 8 years to foresee this let alone figure it out. 8 years is an eternity in the software world. If they have not solved this by now I tend to lean toward the idea that there is no solution that will make everyone happy...and right on queue the futures markets open to allow the billionaires to ease their way out of the sinking ship. Note that the fiddlers are still playing music as the Titanic is halfway underwater.

odolvlobo

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Quote from: vv181 on December 11, 2017, 03:18:44 AM

The good thing is the progress of development of Bitcoin lightning network is running nicely. We can see it already been successfully tested on the mainnet test. Although, it still needs more development to be able to reach the perfect and stable state.

Unfortunately, nobody is going to use the lightning network if the fees to open and close a channel are high.

mickymax777

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Cryptologist

I love bitcoin and is a huge advocate for it, but I do not exchange using BTC. As mentioned above it is way too expense and slow - but it keeps is value and that is all I want.

I use LTC to exchange, it's much faster and cheaper, have a look at the price increase of LTC due to this. LTC is going to skyrocket due to the increase of use.

I've seen comments from prominent members in the crypto space that LTC will reach $500 shortly.

The silver of the cryptospace.

vv181

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The good thing is the progress of development of Bitcoin lightning network is running nicely. We can see it already been successfully tested on the mainnet test. Although, it still needs more development to be able to reach the perfect and stable state.

jseverson

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Quote from: ShortCoins on December 11, 2017, 02:45:11 AM

This is supposed to be the money of the future.

I personally don't want to wait a week and pay 25% fee. That's some bullshit

Yep. And people choose to believe that statement despite all these glaring flaws because they know that in the grand scheme of things, Bitcoin is still in its infancy. Bitcoin has a community and a group of developers that are trying to ensure that Bitcoin evolves with the times. That part has hit a snag partly because of Bitcoin's explosive boom, but I have no doubt in my mind that these problems will be solved eventually. For now, I'm willing to wait it out.

ranman09

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Quote from: crytomusica on December 11, 2017, 02:56:26 AM

Quote from: rikybrosh on December 11, 2017, 02:22:19 AM

Quote from: ShortCoins on December 11, 2017, 02:10:45 AM

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

Yes the fee is too high, I hope there is a way to lowering the fee of bitcoin transaction. The current fee will not good for daily transactions, I am sure that people will prefer like to use paper money if the fee is still high.

This is one of the sad side of this beautiful market. This muıch transaction fee is not really sustainable. I believe that will effect the future of bitcoin.

I thought also, If fees were this high then bitcoin will need a front coin to support microtransactions. I hope lightning helps.

YuginKadoya

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This is really a problem since the past when bitcoin only are gaining an upper value many are sure irritated with the fees over the transaction, but even if many are thinking about the Outrageous transaction fees let's look on the bright side bitcoin will still be bitcoin regarding its transaction fees, every time bitcoin surge its price we can see that the transaction fees also would increase as well, I really think this is necessarily for the miners fee and everything and if you are not OK with the transaction fees right now then wait for it to go down or you can check this service https://btc.com/stats/unconfirmed-tx to see what transaction fee is more economic for you.

Topic: ♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨ - page 5. (Read 1411 times)