Bitcoin fees make me angry - page 8.

pearlmen

sr. member

Activity: 322

Merit: 250

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 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) .

Another way to go about this is the timing, I have realised that the same transaction you can pay different fees at different time of the day. Just try when there will be likely to be less activities on the block chain maybe sometimes early in the morning. Also, you can just send with low fees and use one this acceleration services to boost the confirmation time. Its still to.achieve the same result at lower fee.

SiNeReiNZzz

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αLPʜα αɴd ΩMeGa

I don't know but i have seen some sites, exchanges and wallets that has cheap transaction fees, but either if it we don't have much choice once we are using those service providers, not unless they are doing something fishy behind us, then we don't need to use it further.

exstasie

legendary

Activity: 1806

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Quote from: verifyas on October 29, 2017, 02:01:39 AM

Quote from: glowing10 on October 29, 2017, 01:43:24 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.

audaciousbeing

hero member

Activity: 1330

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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 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) .

You really don't need to get worked up over that because its something you can correct and the fact that its high does not mean you have to accept it. The option of customizing fee is there where you can select the amount of fee you want to pay and it will still confirm within reasonable time.

Another way is to ensure that since you are collecting small amount of bitcoin try as much as possible to limit the addresses you use because the number of addresses to aggregate where the sum payment is coming from is also something of concern here that goes a long in determining what will be the transaction fee.

maruf9522

member

Activity: 280

Merit: 10

yes me also , i don.t know , some site fees $5-$7 , day by day theare fees incress ,

paloloy

full member

Activity: 238

Merit: 102

REVOLUTIONIZING THE TRAVEL INDUSTRY

Keep in mind that Bitcoin's value is very high then fees do when making transactions. Don't makr transactions witl little value in it, just wait for a while until time will give you good option for fees. Other than that, you can find cheaper fees in this forum anr there's a lot of them.

verifyas

member

Activity: 112

Merit: 10

Verify is an Ethereum-powered Reputation protocol

Quote from: glowing10 on October 29, 2017, 01:43:24 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.

emberbekas

legendary

Activity: 1904

Merit: 1000

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 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) .

This is one of the bitcoin inhibitors to be applied as a mean of payment especially when we deal with small items for a relatively small price. And yes, using other alts will be considered as the best solution so far.

Granxis

hero member

Activity: 1400

Merit: 536

Quote from: glowing10 on October 29, 2017, 01:43:24 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.

glowing10

full member

Activity: 812

Merit: 142

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.

Nisharawal

member

Activity: 336

Merit: 11

I am no stable coin. to the mooonn.. and back

Yes i agree with you my friend, $4.5 is really a high fees that you paid here. Actually i think it's just a short term increment in the fees because the miners are feeling difficulty in mining and they cannot process the payments by mining, but they should not have charged this rate for facing the difficulties.I am thinking how much they would charge if the difficulty increases more than 50% which i hope is not possible for now, but in future there are chances to get increased. I have even paid $13 of fees for sending 0.39 of bitcoin to my client, which is too high for me Lips sealed

don't know howto reduce this type of work?

1NV3ST0NM3

full member

Activity: 420

Merit: 110

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 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) .

Is it on a third party wallet or a private key wallet? I dont think a private key wallet could have such a high fees for medium transactions I myself has been doing transactions everyday with just 0.5 USD fees only day when it took too much time was on fork day.

pooya87

legendary

Activity: 3472

Merit: 10611

high bitcoin fees make all of us angry but sadly "Fee" is a necessary evil that needs to be there. it is like a mechanism preventing spam attacks. and right now there is another big one going on. increasing fees and ending up at a high fee is not just for you and me, it is also affecting the attacker making the spam attack more and more costly every step of the way. which means they can not keep up the attack forever.

p.s. please try to always report your fee as (satoshi or bitcoin) per (byte or kilo byte) that makes the fee more meaningful than when you just say the amount in bitcoin or satoshi or worse in USD!

vandvl

member

Activity: 154

Merit: 10

its nothing new about trasaction fee. we have no choice and we have nothing to do just accept that higher fee. i search the wallet that low fee transaction and almost wallet is the same fee..

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

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

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..

you can combine all the payments into one transaction to save time and fee.
you can also use an altcoin which had really low fee not some altcoin that already has high fee like ETH. use litecoin for example.

Quote

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 am curious to know how you "pay with eth". nowhere really accepts ETH as payment. unless you are paying someone for some job they did and forcing them to accept it.
and also ETH has one of the highest fees altcoins can have.
compare to it other altcoins have much lower fees. why not choose one of them?

shadowdio

sr. member

Activity: 1876

Merit: 289

Zawardo

well me too bitcoin fees makes me mad that's why I never send a small amount bitcoin in external wallet sites just because of fees bitcoin price keeps increase so the fees increase also. I'm afraid that some people will never use bitcoin because of fee they will find another coin with small transaction fee.

Mr.grin

legendary

Activity: 1218

Merit: 1000

I guess that does not just happen to you. but, almost all of us are also experiencing the same thing. well, we can not do anything, because the smaller the fee that is issued, the longer the transaction you feel. maybe, the transaction you make will be faster because of the high fee you get.

Yukyzu

full member

Activity: 241

Merit: 100

Large shipping charges are charged on very fast delivery of transaction time, it's all option if you will send in a very short time then you are charged a large fee but if you are willing to wait with longer delivery time then you are charged more shipping low.

BossMacko

hero member

Activity: 1134

Merit: 502

It happens to me most of the time and what i do in that situation wherein fees his very high i just delay my transaction. What i mean by delay is instead sending the Bitcoin now i will cancel it and check again later if how much the fee. Do the transaction if you see the fee is better after checking it again.

dasher797

member

Activity: 115

Merit: 10

Get your share of the future

Butcoin transaction fees is depend on the amount that we want to send, isn't it? So I think if you send a lot of bitcoin the fee will be very high.

Topic: Bitcoin fees make me angry - page 8. (Read 2423 times)