Bitcoin fees make me angry - page 7.

ir.yance

full member

Activity: 354

Merit: 100

Quote from: Nomteck on October 28, 2017, 07:32:17 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 best solution i found now is pay using ETH , then convert it to BTC using changelly. (something like 0.2$ fees) and its automatic.
Shapeshift is also take huge fees and blockchain.info support it to be part of their site. (don't use) .

I think this is all the while, hopefully bitcoin can be better because I need the services of bitcoin

zarados

full member

Activity: 364

Merit: 130

Quote from: Images21 on October 28, 2017, 07:48:18 PM

Quote from: Nomteck on October 28, 2017, 07:32:17 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.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: 2girls on October 29, 2017, 07:42:08 AM

Quote from: Granxis on October 29, 2017, 02:56:11 AM

Quote from: glowing10 on October 29, 2017, 02:43:24 AM

I am just thinking at present level if the fees seems so high then just think once it reaches 10k the fees would almost be double of what it is today. As the price of the coin keep increasing the fees would automatically be getting costlier and not cheaper. Will this bring down the users interested in btc due to its fees is what wee will need to watch out.

I suggest you use an online wallet, it is not possible to escape from the charges, but the oflline wallets are really cruel.

Which online wallets gives no fee ? I have not heard of any such wallet which is free from charges . Can you please name such wallet so that it may help all of us ?
Previously coinbase and Xapo did not charge fee but this was last year, these days they too charge tx fee on each transactions.

Quote

I suggest you use an online wallet.

im a bit confuse to this? i think were allready using an online wallet.

Quote

it is not possible to escape from the charges, but the oflline wallets are really cruel.

no, it can and you can still escape or avoid charges. all you gotta do is to switch or use another curency.

Quote

Which online wallets gives no fee ? I have not heard of any such wallet which is free from charges . Can you please name such wallet so that it may help all of us ?
Previously coinbase and Xapo did not charge fee but this was last year, these days they too charge tx fee on each transactions.

Quote

Which online wallets gives no fee ?

all wallets have fees unless you use other currency like xrb (which has zero fees) and you can try litecoin and dogecoin for a lesser fees compared to bitcoin.

Quote

Previously coinbase and Xapo did not charge fee

i think they wont charge you a fee if your sending bitcoins to coinbase to coinbase or xapo to xapo wallets.

polymerbatt

full member

Activity: 350

Merit: 100

Quote from: Nomteck on October 28, 2017, 07:32:17 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 best solution i found now is pay using ETH , then convert it to BTC using changelly. (something like 0.2$ fees) and its automatic.
Shapeshift is also take huge fees and blockchain.info support it to be part of their site. (don't use) .

I always do this way to reduce the fee on my transaction. First customize the fee and reduce it to minimum $1 and if the transaction is not confirmed in 1 hour, i will use txid accelerator to my transaction and it's really works. Actually the fee is quite low nowdays.

bitcoinvestor

hero member

Activity: 812

Merit: 501

Quote from: SureLockLoans on October 28, 2017, 07:49:24 PM

You can always choose to send less yes it won't be as quick to confirm but at the end of the day this is how bitcoin works and will never change. Bitcoin miners need an incentive to pass a transaction and higher fees are going to do that.

If you don't mind waiting a few hours then just pay a smaller fee.

If you send 0.1 I think isn't too big but if you send small amount of money you 'd better use eth or litecoin. I usually do that for transaction. To exchange quickly bitcoin to eth or vise versa I like to use flyp.me. Flyp.me is automatic excanger service that no needs registration. It needs only few minutes to arrive in my wallet. That's cool exchanger you'd better try. The fee is not too high.

hacker1001101001

sr. member

Activity: 1288

Merit: 415

Yes some times bitcoin fees interrupt the transactions which are of low amount. The bitcoin transaction fees are very unstable it can increase and decrease any time and no on can predict it. sometimes people skip bitcoin payments for this but i think as more and more people start using bitcoin the fees will be lowed as transaction per day increases and this will make small bitcoin transaction fees affordable .

2girls

sr. member

Activity: 1002

Merit: 254

Tontogether | Save Smart & Win Big

Quote from: Granxis on October 29, 2017, 02:56:11 AM

Quote from: glowing10 on October 29, 2017, 02:43:24 AM

I am just thinking at present level if the fees seems so high then just think once it reaches 10k the fees would almost be double of what it is today. As the price of the coin keep increasing the fees would automatically be getting costlier and not cheaper. Will this bring down the users interested in btc due to its fees is what wee will need to watch out.

I suggest you use an online wallet, it is not possible to escape from the charges, but the oflline wallets are really cruel.

Which online wallets gives no fee ? I have not heard of any such wallet which is free from charges . Can you please name such wallet so that it may help all of us ?
Previously coinbase and Xapo did not charge fee but this was last year, these days they too charge tx fee on each transactions.

Caelanpelley

sr. member

Activity: 602

Merit: 250

Quote from: Nomteck on October 28, 2017, 07:32:17 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 best solution i found now is pay using ETH , then convert it to BTC using changelly. (something like 0.2$ fees) and its automatic.
Shapeshift is also take huge fees and blockchain.info support it to be part of their site. (don't use) .

It is too expensive for a transaction. I find this fee is not appropriate. If you trade more then it will cost a lot of money. It is disadvantageous for those who invest.

penig

member

Activity: 266

Merit: 13

Quote from: exstasie on October 29, 2017, 03:22:31 AM

Quote from: verifyas on October 29, 2017, 03:01:39 AM

Quote from: glowing10 on October 29, 2017, 02:43:24 AM

I am just thinking at present level if the fees seems so high then just think once it reaches 10k the fees would almost be double of what it is today. As the price of the coin keep increasing the fees would automatically be getting costlier and not cheaper. Will this bring down the users interested in btc due to its fees is what wee will need to watch out.

I doubt it would get that extreme. I think the increase is temporary. The miners should know that transactions would not make sense if being too high. users would just opt for other currencies and hold BTC without trading.

No, the increase is not temporary. Fees are essential to the network's function, and most importantly, fees are in the process of replacing block subsidy already. The supply of BTC is more then 75% mined already, and the block subsidy has halved twice. Fees need to start replacing that subsidy loss in order to incentivize miners to keep securing the network. Otherwise Bitcoin would be insecure and subject to double spending and other attacks.

In a couple years, the block subsidy will only be 6.25 BTC per block. On-chain fees need to be rising, not falling, for the chain to remain secure. This is why the future of low cost payments in Bitcoin is with the Lightning Network and sidechains, I think.

There's an alternative, one which was implicit in the original plans for Bitcoin - that the widespread, distributed mining was cheap and written off as a hobby/interest in maintaining the project. ASIC and mining farms weren't in the plan and they've skewed the project. Ideally transaction fees should be tiny and high volume makes mining viable.

As it is I laugh and cringe every time I read someone advocate no or low fees as advantage for Bitcoin, when its 5-10x a debit card transaction to get in the next block, and only large transactions/movements of bitcoin are financially advantageous.

Virman01

sr. member

Activity: 402

Merit: 250

it is true that the cost is too big, I also feel the same with you. is there no other way, besides using ETH, because I think if using meth is too complicated and less simple.

jjacob

legendary

Activity: 1554

Merit: 1026

★Nitrogensports.eu★

Quote from: Granxis on October 29, 2017, 02:56:11 AM

Quote from: glowing10 on October 29, 2017, 02:43:24 AM

I am just thinking at present level if the fees seems so high then just think once it reaches 10k the fees would almost be double of what it is today. As the price of the coin keep increasing the fees would automatically be getting costlier and not cheaper. Will this bring down the users interested in btc due to its fees is what wee will need to watch out.

I suggest you use an online wallet, it is not possible to escape from the charges, but the oflline wallets are really cruel.

Using online wallets might help you save on fees, but you risk losing all your money if the service provider gets hacked. I think it is much better to pay the fees. If your transaction is not urgent, you can try paying lower fees and wait for it to get confirmed.

Givebirth

full member

Activity: 187

Merit: 100

Quote from: Nomteck on October 28, 2017, 07:32:17 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 best solution i found now is pay using ETH , then convert it to BTC using changelly. (something like 0.2$ fees) and its automatic.
Shapeshift is also take huge fees and blockchain.info support it to be part of their site. (don't use) .

Same to our local wallet. When sending bitcoin to others they deducted too much bitcoin fee than the value you are sending. I think the problem with this is the company of the wallets and sometimes this is pissing me off. I hope other wallet take action about this because this is you unfair to us.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: Nomteck on October 28, 2017, 07:32:17 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 best solution i found now is pay using ETH , then convert it to BTC using changelly. (something like 0.2$ fees) and its automatic.
Shapeshift is also take huge fees and blockchain.info support it to be part of their site. (don't use) .

how much money you want to send? i think if the amount is more than $100 or even $1000, then i think fine if your fee is $4,51 at least you still have the biggest amount. we are paying fee to make transaction run smoothly and our transaction is not getting delay or waiting too long to be arrive in our wallet. if the amount that we want to send is bigger then we don't need to complain anything and we can receive that fee because we don't want to waiting too long.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: btc_angela on October 29, 2017, 03:42:04 AM

I also had the same experience earlier. Was frustrated that I have to pay a high fees and the confirmation didn't went through for more than 10 f*** hours. I already slept, woke up get up and see a doctor and it is still not in my wallet yet. But I have read that it has something to do with the difficulty rising at 21% if I'm not mistaken. Maybe those mining BCH earlier went back to the legacy nodes or whatever, that's why the hashing power is very difficult resulting in a increased of mining fees.

Edit: Alas, it just went through....

difficulty goes up by increase of hashrate (mining power), for example when new miners start mining bitcoin, when more people buy ASIC miners to mine bitcoin,... the hashrate goes up and the difficulty increases to match this increase and make blocks be mined every 10 minutes on average.

it has nothing to do with the fees though. maybe I missed it but looking at the blocks that have been mined in the past couple of days I do not see any major gap that can cause such a backlog that we currently have, which means only one thing: a spam attack.

kiver

full member

Activity: 210

Merit: 100

the fees has really became a big problem these days especially if you are using small amounts on a regular bases i have an idea that could solve this

that they could make a fee based on the amount you send not all of us have a huge amount of btc

Rajamuda

sr. member

Activity: 924

Merit: 255

I think which causes the fees to be more higher because bitcoin price was increasing. At past.. long day before bitcoin price are so very high up as it's today, the average fee fees from various sites is very cheap. But of course it's different for now, that's bitcoin more days being more popular be used by many people, with price that tend continue to increase from previous years, of course this can be causes the fees to be more higher I guess. And well.. indeed we should really be able to balancing with like this condition.

btc_angela

hero member

Activity: 2632

Merit: 546

I also had the same experience earlier. Was frustrated that I have to pay a high fees and the confirmation didn't went through for more than 10 f*** hours. I already slept, woke up get up and see a doctor and it is still not in my wallet yet. But I have read that it has something to do with the difficulty rising at 21% if I'm not mistaken. Maybe those mining BCH earlier went back to the legacy nodes or whatever, that's why the hashing power is very difficult resulting in a increased of mining fees.

Edit: Alas, it just went through....

Sithara007

legendary

Activity: 3220

Merit: 1344

Leading Crypto Sports Betting & Casino Platform

Quote from: cryptjh on October 28, 2017, 09:06:40 PM

what wallet are the cheapest to use for sending coins

You can decide on how much fees you want to pay, if you use an online wallet which allows you to do so (such as Blockchain.info). But then, be ready to wait for 4-5 hours, if you are paying a significantly lower fee. Last time, one of my transactions got stuck for 3 days after I manually paid a fee of 10 Sat/Byte for my transaction. It was frustrating!

BeManga

sr. member

Activity: 961

Merit: 269

CryptoDirectories.com

Quote from: Nomteck on October 28, 2017, 07:32:17 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 best solution i found now is pay using ETH , then convert it to BTC using changelly. (something like 0.2$ fees) and its automatic.
Shapeshift is also take huge fees and blockchain.info support it to be part of their site. (don't use) .

maybe the mining difficulty rise so new block take a little bit longer and there a large unconfimed transaction again thats why fee is getting higher

Taki

hero member

Activity: 1078

Merit: 514

Quote from: Youghoor on October 28, 2017, 07:35:26 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.

I decided to check this out and when I was typing the amount which I want to send the fee was like 1,04$, but when I pressed "max" the fee increased to 4,1&$ just like the author said! From my experience I can say that Blockchain.info is not always the same, I mean one day they ask 1$ for the transaction and another not less than 4$. I don't know what from it depends, but I have never paid more than 1,5$ for the transaction on this site.

Topic: Bitcoin fees make me angry - page 7. (Read 2375 times)