Bitcoin fees make me angry - page 5.

Zebra.Guy

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Activity: 61

Merit: 10

Quote from: Youghoor on October 28, 2017, 06:35:26 PM

Wow 4,50 each transaction, that is so high mate, but the fees were not so high a few days ago, i dont understand why it is happening. Well, maybe it is because the difficulty of mining has increased to 21% in the last few hours, but it shouldn't change the fees. Maybe the miners are so congestioned and they can not proccess that payment and this is why the fees are so high.
Anyway, i sent a payment yesterday and it only costed me $1,20, and it got confirmed in 20 minutes.

the reason behind those fees, as I am seeing it, is that a lot of people trade their bitcoin. The price is 15k at the moment so a lot of sales are happening, the same congestion (currently there are 140.000 unconfirmed transactions) was there when bitcoin hit 10.000 dollars. It may be like that for a few days unfortunately.

And the congestion makes fees higher

carodupuis

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Activity: 382

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Live cams shows pimped with cryptocurrency on Sexy

Quote from: zarados on October 29, 2017, 07:19:13 AM

Quote from: Images21 on October 28, 2017, 06:48:18 PM

Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

it's way too much . i pay higher on fees than the amount i'm sending to people
and i work a lot with bitcoin on small amounts..

The solution for this is: pay using ETH , then convert it to BTC using changelly.
What a great site is changelly! brings al ot of value.

This looks to me a simple way of promotion. I think you are one member of changelly or a paid advertiser using posts here in the forum. The fees that bitcoin is asking in each transaction is getting really high. We have been experiencing this for some time already. That is why many people would advice not use bitcoin in small transactions such as buying a cup of coffee. But if you are determined to use it for such transactions, then you also have to accept the high fees.

If it is true that bitcoin transaction fee are all equal, big or small, this should be a serious problem for the users. Because this technology is intentionally made to divide into 8 digit digits, to be obtained in small quantities. But if the transaction fees of bitcoin in large quantities is equal to small (Equally high) it means more bitcoin is for large transactions. While small transaction, will harm users.

We are claiming that bitcoin is a online currency through which we can trade anything, online. It is also expected that we will very soon become able to use bitcoin in our local area, but in fact it has now become difficult with the increasing price of bitcoin to use it for trading small and daily trade use items, because of the increasing transaction fee. We even pay more transaction fee than the item price, which we want to buy using bitcoin.

kier010

full member

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today fees gets higher as bitcoin value increase. better use altcoins for trading in other exchange site. well this is still business they want to earn too.

A1exander

full member

Activity: 336

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Yes, the fees are high. I've transferred some of my coins to new addresses and payed a few $ for a simple (one input, one output) transaction. It does not seem high when one is transferring large amounts equivalent to thousands of $ or more, but for day-to-day transactions it's absolutely unacceptable. The original idea of bitcoin used for habitual payments is long dead. Bitcoin now is a sort of 'digital gold', and paying with BTC for coffee is as ridiculous as paying with a gold bar.

TheGodFather

hero member

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Merit: 500

Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

Just like taxes i think that these are not helpful to us jowever I see the necessity of it. If we can still compare we are still gaining something even if the costs are surgingg steadily however if it comes to an unreasonable rate then I think that that is hhe time to end it

Qartersa

hero member

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Well yes, you have a point in there. But you know, the level of difficulty in mining Bitcoins has been at the edge lately because of increased Bitcoin demand. The increase is just so much for the miners to handle given the fact that the latter would need to invest in more innovative computers or software that will make their mining business feasible and at par with times. Also, brought about by the increased demand, comes along increased electricity bills. I guess all these factors were put into consideration by Bitcoin miners.

1NV3ST0NM3

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Quote from: ananas99 on December 04, 2017, 01:27:27 AM

Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

And you wanted to earn and not earn on you. Well, there is no price at the height of the prospect is, then the fees can be made good. And there is your business whether you should pay them or not. But after all, the fee changes with time, maybe you went to not the best time.

The problem due to which we end up paying such hefty amont of fees is that fees is measured by sats/bytes units. Even after transaction compressing and segwit we are still not able to reduce the size of transactions to such an amount which is bearable as fees. Lightning network proposes a better idea to reduce fees however this idea will also give a flop show with continued increase in fees.

The best idea? Here on the forum I read suggestion of a person who says that fees must be kept as a percentage in fiat. Well this idea suits me a lot if only miners are ready to accept it. Because it will make their earning stagnent. Believe it or not bitcoin is now being run by authority of miners and there number is so low that the system end up being quite central. This is my suggestion to reduce the fees or else it will make BTC an asset used for investment purposes only.

jilani

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Activity: 244

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Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

Fee 4.51 USD This is really disappointed thing because Bitcoin transaction fee is more high.I think should price will be reduce after that people feel to comfort in BTC transaction.Otherwise it's very difficult to carry high transaction fee.

deepika the crypto girl

member

Activity: 308

Merit: 10

Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

Yes, the fees are pretty high these days, If you are making small transactions than the money you earn is only slightly more than the fees paid. I think using altcoin can be a good alternative to lower the transaction cost.

ananas99

sr. member

Activity: 644

Merit: 250

Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

And you wanted to earn and not earn on you. Well, there is no price at the height of the prospect is, then the fees can be made good. And there is your business whether you should pay them or not. But after all, the fee changes with time, maybe you went to not the best time.

ramsdaj28

sr. member

Activity: 420

Merit: 256

اللعنة

Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

Bitcoin transaction fee changes from time to time. In our country (GMT +8:00), transaction fee is usually at its lowest early in the morning and at its highest during daytime. The best thing to do when you are trying to transact with bitcoin is to check the transaction fee at every point of the day so that you will be able to pay the lowest possible transaction fee later on.

Another thing, transaction fee varies in every wallet. There are some wallets that really require high transaction fee to accomodate the volume of transactions in their platform.

CryptoClown

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Activity: 261

Merit: 100

Gone were the days that we can send bitcoin funds with zero transaction fees. I guess we should anticipate that the more it gets popular, the more fees we need to pay for the blockchain.

chuckblocker

member

Activity: 126

Merit: 12

https://blockchain.info/charts/mempool-count?timespan=24h

Noone paying those "priority" fees so mempool just becomes more jammed up by the minute. It was at 80k or smth unconfirmeds 10 hours ago, lol.

just name it whalecoin already

Sucks for those who tried getting out @ 7400-7700 values. Not get any confirms and value now is 6392$. So 1k drop in value while waiting for confirm and going down still. Hahaha, really sucks for those panic sellers.

trinketmage

member

Activity: 80

Merit: 10

Transaction fees are way to high for Bitcoin. It´s a problem, and the devs should fix it asap.

chuckblocker

member

Activity: 126

Merit: 12

It's going to shit quick. I paid 5$ for a 10$ transaction yesterday and still didnt get confirmed 1 day later... LMFAO, that's 288 sat/byte

https://blockchain.info/tx/470eed8c0118e02d8b3accec1a3b041fb32683496f7cf33e33234a29d29e2fbf

Now they are asking 8.77$ / 580 satoshis for priority, blockchain.info.

So yea, bitcoin is dead for microtransaction. And anything below 250$ is considered a micro... LMFAO again.

Good riddance, can't wait for it to go back down to 450$ or die already. Perfect money here I come again after years.

Ooh, and I f***g miss Liberty Reserve. Too bad feds killed it to make way for this bitcoin garbage.

kqyyzmlc

member

Activity: 80

Merit: 10

If the number of bitcoins you use to transfer is less than 0.0 x, the current transfer fee is really high because the price of bitcoin is really high. The transaction fee is the same whether it is 0.001 or 10, so it is very inconvenient now. I hope there is a good solution.

pushups44

sr. member

Activity: 868

Merit: 281

I agree that the fees are too high. Hopefully they will go down as bitcoin scales. I suppose there is both a positive and a negative to this, as rising fees are an indicator of rising demand. However, for bitcoin to become mainstream, the fees will have to drop substantially.

DBronze98

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Activity: 403

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Quote from: Nomteck on October 28, 2017, 06:32:17 PM

What the hell ?

LOL, it is normal for bitcoin high values to be higher than expected to ensure that transactions are smooth and profitable for each withdrawal.

daight

newbie

Activity: 22

Merit: 0

in my case I always make fee of my transaction is 120 satoshi/byte and almost 1~2 hours to get 1 confirm this is cheapest more than exodus wallet fee, I think not below 110 if below that transaction gonna be long

wantjokull

sr. member

Activity: 700

Merit: 275

Yup, fees are killing everything very badly. Its also not the same every other day from what I have observed since last week. Many of the transaction that I’m doing from my personal account are taking more than 6-7 hours upto 24 hours for some of them after paying the “Normal” fees also. This is ridiculous to see how this may get worst in the future. This might be due to more competition and hence more difficulty in finding the blocks. However, I’m afraid that prices of the bitcoin could also be one of the reason fro this. The fees are always dynamic and paying higher fees also won’t do much good and they will result in successful transaction after 6+ hours only. This is clear that its the difficulty that these guys are getting or may be something else I don’t know but its not good for small transactor like me.

Topic: Bitcoin fees make me angry - page 5. (Read 2423 times)