Topic: Bitcoin fees are too low! - page 2. (Read 1950 times)
Too much threads on the forum about high fees and now its low. How come?
As for me, low fees are one of the advantages of Bitcoin. If we take it, than the smaller number of people invests in Bitcoin. They will start investing in another cryptocurrency with better conditions.
Have a heart for the poor miners.
edit 20sat/b is way too low.
edit 20sat/b is way too low.
they are 420 satoshis/byte, where do you get 20 sat from? they are still very high, but it's because segwit is not used i think, otherwise should be lower
Have a heart for the poor miners.
edit 20sat/b is way too low.
edit 20sat/b is way too low.
20 sats/byte is probably too low, but has it reached that stage yet? No.
I still have to pay close to 450 sats/byte on my transasction and it has only increased over the past few days, with no signs of slowing down honestly. IF the transaction fee was at 20 sats/byte and the block reward has halved then miners would probably be disincentivized, but right now miners are making bank off tx fees.
Not sure what you are trying to get at here, honestly.
it seems like OP is mostly trolling. fees are not 20 and they are not 450 either. it is somewhere in between most of the time around 120 s/b to get a high priority (get a confirmation within next couple of blocks) and during the times when mempool goes towards the moon it becomes more expensive temporarily.
of course 20 s/B or even 1-2 s/B transactions can also be confirmed but you can't rely on that specially if you want to get the coins fast like when depositing to an exchange to make a trade, you can't wait half a day or longer!
The only reason it's low at the moment is that the difficulty reduction (caused in part by miners switching to BCH) is causing mining to happen at 7 blocks an hour. The extra blocks are enough to clear the mempool. When the difficulty goes back up again, the mempool and fees will rise again.
Have a heart for the poor miners.
edit 20sat/b is way too low.
edit 20sat/b is way too low.
20 sats/byte is probably too low, but has it reached that stage yet? No.
I still have to pay close to 450 sats/byte on my transasction and it has only increased over the past few days, with no signs of slowing down honestly. IF the transaction fee was at 20 sats/byte and the block reward has halved then miners would probably be disincentivized, but right now miners are making bank off tx fees.
Not sure what you are trying to get at here, honestly.
Yes you think maybe the low bitcoin cost is due to the small bitcoin fractional value, but if compared to the currency of each country the cost of bitcoin can look high, but I think the bitcoin cost is moderate, not expensive and also not cheap ,, Live we see from the perspective alone, that's it if I think
Yeah 20sats/b is very low but sad thing is when on this Earth I can experience again to have this amount of fee when sending some bitcoins. Way to go, I understand on what's the purpose of the title and supported by an edit 20sats/b 
keep on complaining with the fees. One day there will be a delightful day when everyone will be saying again the fees are very very low.
keep on complaining with the fees. One day there will be a delightful day when everyone will be saying again the fees are very very low. 
Have a heart for the poor miners.
edit 20sat/b is way too low.
One cannot deny that the transaction fees have greatly reduced since yesterday and has reverted back to about $0.30 per each transaction and surprisingly it takes about 15 to 20 minutes for the transaction to be confirmed which was quicker than when we paid high fees in the past.edit 20sat/b is way too low.
We are expecting Bitcoin to gradually improve and with another fork this November we should be seeing a better and more efficient Bitcoin by next year. This is what we are signing Bitcoin for and this is what Bitcoin should be known for...fast, effective, efficient and cheap. As to why it took the Bitcoin community years before finally arriving at SegWit, that is telling us that we are also humans here and hence can be victims of our own human nature. Hopefully, this would not be just temporary but must be truly permanent.
Transaction fees are getting bigger and bigger. I don't see where bitcoin fees are low.
What would YOU call 20sat/b? High or Low?
Some says it is too high and some says it is too low. I am confused.
If it is "too low" (unprofitable) then it won't get done.
If it is "too high" then someone will do it for less.
Bitcoin is full of incentives and disincentives that keep the transaction price trending toward the lowest profitable value. Of course at any one moment it may be higher or lower than the optimal value.
Are you saying, that Bitcoin is working normally and will continue to do so? Phew...
I like this thread Once in a few days someone comes crying with a "fees are killing bitcoin" thread.
"listen up folks, switch to BCC because BTC is going to die soon. It's going to crash if fees keep rising! Sell now before it's too late!"
Nice job trolling them OP
Once in a few days someone comes crying with a "fees are killing bitcoin" thread. "listen up folks, switch to BCC because BTC is going to die soon. It's going to crash if fees keep rising! Sell now before it's too late!"
Nice job trolling them OP
You're welcome!
Have a heart for the poor miners.
edit 20sat/b is way too low.
edit 20sat/b is way too low.
These "poor" miners are getting BTC12.5 as the block reward right now. They don't need revenues from transactions. When the block reward becomes less than BTC1.00, we can consider rising the fee. Until then, we need to keep the fee low, so that more people will use Bitcoin rather than any of these altcoins.
Have you thought about how this will work in practice? How is the transition to fees going to work in that case? In your scenario, I think miners will simply shut down in increasing numbers as block reward dwindles (and particularly around reward halvings).
This is a threat to security in general, and if the hash rate drops are severe enough, it could lead to a situation where generations-old mining hardware could be used to attack the network and cause large block reorganizations.
Do you think -- under these circumstances -- that users are going to jump at the chance to pay higher fees? After decades of cheap transactions, they will suddenly want to pay, as the network is becoming increasingly unreliable? At that point, inflation beyond 21 million BTC may begin to look attractive, to ensure PoW security incentive...
Fees are supposed to be low. You do know that each block they mine is worth a lot of BTC dont you? and thats where most of their revenue comes from?
High fees are only good for alienating the community and potential new users.
High fees are only good for alienating the community and potential new users.
Miners should be focusing on mining subsidiary - a reward for mined blocks. Don't forget that this is the main source of income for them.
Transaction fees shouldn't be a primary concern for miners anyway.
Additionally, according to bitcoinfees.21.co:
"The fastest and cheapest transaction fee is currently 390 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 88,140 satoshis."
The recommended fee on that website is often very high. You can look at the information yourself and decide how quickly you need your transaction to be confirmed, then choose the fee.Transaction fees shouldn't be a primary concern for miners anyway.
Additionally, according to bitcoinfees.21.co:
"The fastest and cheapest transaction fee is currently 390 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 88,140 satoshis."
My blockchain app had 20 sats for normal and 285 sats for priority yesterday. I used 30 as that would get me ahead of the big bar and my transaction was confirmed within an hour.
200 sats or more is way too much. I'd like to see sub 10, but I can live with sub 30.
I like this thread Once in a few days someone comes crying with a "fees are killing bitcoin" thread.
"listen up folks, switch to BCC because BTC is going to die soon. It's going to crash if fees keep rising! Sell now before it's too late!"
Nice job trolling them OP
Once in a few days someone comes crying with a "fees are killing bitcoin" thread. "listen up folks, switch to BCC because BTC is going to die soon. It's going to crash if fees keep rising! Sell now before it's too late!"
Nice job trolling them OP
yes this is the great thing bitcoin transaction fees is not too much then others this is the great opportunity to make transaction and save the fees which is very good thing.
I dont want to point fingers but.. it is a funny post or sarcastic?
fee's arent low but that is my opinion.
I would love to see them low AF once the segwit networks gets mainstream
fee's arent low but that is my opinion.
I would love to see them low AF once the segwit networks gets mainstream
If you look at the map of bitcoin transactions, or unconfirmed transactions, you will see that most of the third world has avoided bitcoin. High transactions fees are certainly a barrier for most of the developing countries. We need bitcoin fees lower to encourage mass adoption.
I don't know for what reason op stands blindly supporting miners for their fee.Every one very well know that bitcoin transaction fee is very high and uneconomical in terms of small transactions.Miners ether need a high transaction fee or thy just want to mine BCH which seems to be much profitable and easier to mine for them.Segwit has been activated and it would completely get locked in in november and after that,the transaction fee would start to decrease.But surprisingly,today,my transactions got confirmed within thirty minutes with very low transaction fee.
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