Topic: Bitcoin fees so high? - page 2. (Read 394 times)

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The reason why transaction fees are increasing is there are lots of individual who are making Bitcoin transactions and most of them are still unconfirmed transactions, that will makes Bitcoin network congested, more unconfirmed transaction expect higher fee. You can't avoid to pay higher fees if you want you transaction gets confirmed in short period of time. You can try using wallet that have a segwit features it may not solve the high transaction fees but it can reduce it. I don't know any wallet that support segwit except ledger and trezor. If delayed confirmation is fine for you then pay low priority fee then you can use transaction accelerator service.

I agree,it's a very good protection...even meself can not take my BTC.
But I can not spend for an android more than I have on Xapo.

Yes you are right that nowdays the transaction fees increased too much.The main reason of increasing fee is that the nowdays the price or btc is also increasing too much.And nowdays many new miners come to the market.So the difficulty of every block increased than the before blocks.so it's take more time and. It's also consume the more electricity therfore the mining fee is also increased.And therfore the fee of transaction alsoincreased. I suggests you to use zabpay wallet beacause  it's fee is very law than any other wallets.

You are right. Xapo really want to switch completely to the use in smartphones. Now this seems like a Scam but maybe it's due to the fact that they want so to protect your money from hackers. I also had a problem with this wallet. I had an Android but the app no longer supports version 4 Android. To access your account I had to buy a new smartphone.

I think every wallet fee is high at the moment due to blockchain traffic and number of transactions occurring per seconds also very less like only 7 transaction per second is done.But normally thin number will be around 30 transactions per second.Currently 130K pending transactions in blockchain network so you need to wait for that traffic gets clear to send with lower fee.You can tray wallets with customizable fee but if you send too low fee your transactions will be pending for months,so if you don't know to customize the fee then just send it with default fee.

Xapo tried to rob me over 1 million of satoshi

they attracted me without transaction fees.
Then they have set transaction fees
And now they forbid me to access my account because I have not an android mobile phone.

To attract me it was not necessarary...

For me Xapo is my biggest scammer.

Bitcoin transaction fees are getting higher every day because millions of people are conducting transactions over bitcoin blockchain network. The more people on the network the slower the network is going to be. But if you can pay the higher transaction fee (miner fee) your transaction gets processed quickly. you should try Xapo i think their transaction fee is more affordable. 

Well I have encountered this one, I sell tokens and its not a big enough profit and the required fees were almost 47% of my Bitcoin to be gain, and I have no choice than to pay what they are aquiring cause it will be zero for me. I hope they will lessen fees.

Basically bitcoin network performs about 7 transactions per second when the tx exceeds that limit the algorithm is set to increase tx fee. This algorithm is implemented to prevent spam.

yes, I think it's a bitcoin rating today, usually good stuff, then the transaction cost will be expensive.
if you want cheap, I suggest to you, so you can use etherdelta market.

If we convert to local fiat bitcoins miners fee it is so high because bitcoins value now is so high. For example if we have a 0.005 btc transaction fee before when converted to USD it is just about $1 but now a 0.005 btc is worth about more or less $10 now same btc value but different local fiat value.

Because the demand for bitcoin has increased greatly and people are priotising their transactions by setting high fees which as lead everyone to follow.

You will only take advantage of such services if you are sending the bitcoins on the same platform with little to no fees and with the high miner fees bitcoin is best used to send larger amounts of money than sending small amounts like 20 dollars.

The mempool is getting larger, the transaction exceeds the block size, that could be the problem. The only solution is to implement the lightning network as soon as possible since it could significantly improve the problem that Bitcoin has.

My opinion, if you want to do a higher cost transaction, your confirmation will be faster. and if you do not want to lose profit on bitcoin, it's the best thing for us to do so. so also with low cost transaction it will take a very long time , so you will lose the opportunity. because the look at bitcoin prices is currently very good, compared to before.

Dang I just halted a transaction because the fee was too much. I chose an altcoin to send the payment. I wish and hope bitcoin solves the fees issue.

Fees are not determined by the wallet, unless you are using some strange off-market wallet that none of us tend to use. The fees are determined by the amount of inputs your transaction has, and the amount of received-transactions that constitute the amount you're trying to send is what is called thee inputs. These inputs add Size to your transaction, and you pay a transaction fee based on size, Satoshi per Byte. Each input adds something like 180-Bytes if I'm not mistaken onto your transaction; I was sending transaction fees of 175 Satoshi per Byte and getting my transactions confirmed almost immediately even at the height of the congestion a few days ago.

Your 10-15 USD may be difficult to send because of the manner in which you have received it, also with the price of a single Satoshi being so "high" right now, it causes ever input towards your transaction to be extraordinarily costly. It's easier to not think about Bitcoin in terms of USD in my opinion, if you think about the fees in this way you'll never send any coin and may miss out on some opportunities, because you're irrationally upset about things you should already understand.

No wallet can "take less fees" and give you any better outcome, this is determined by miners and the network itself. The wallet is just the customer representative you're choosing to be upset with today. I say hold your coin until it is worth it to move around or eat your losses and get out of the game before the fees are even more USD.  

I transfer on the trading platform, received my 0.002BTC fee, transfer fees are too high now, a bit unbearable ah, really expensive. If you can use the other, but there are differences, so I am very contradictory each transfer. However, BCH transfer fees are relatively much lower! Time can also be converted into BCH, but the exchange rate risk, you know.

So far speed of each transaction is affected by transaction costs incurred, some transactions will be slower if using lower transaction costs, probably because bitcoin price is very high as if transaction cost feels bigger and expensive, but in my opinion it isn't a burden if it has substantial incomes in bitcoin.

This is definitely going to have to be addressed at some point. When the transaction fees were lower, I think people were thinking that this was a feature of the bitcoin environment. If the fees increase now because bitcoin costs more and the network is congested, this is bound to create problems for most users.