Topic: Bitcoin huge fees - page 5. (Read 2455 times)
Bitcoin transaction fees are certainly getting quite expensive for some users that wish to send money to each other at an affordable rates, maybe it is time to store bitcoin in wallets until the miner fees gets lower, for the time being, I am using altcoins for payment as the transaction fees is lower and waiting time for confirmation is much faster too.
Everyone thought the activation of SegWit will be the magic solution to all our scaling problems, but they were wrong. SegWit is the first step towards that goal. The full impact of SegWit will only be experienced when the wallet providers adapt their software to enable people to make SegWit transactions. Even with these changes, we will still have congestion on the network, because the miners are playing games by switching pools between BCC and BTC.
The Lightning Network will take us to the next level of the scaling solution and this will evolve as we grow. Scaling is a on going battle for most payment networks. ^smile^
The Lightning Network will take us to the next level of the scaling solution and this will evolve as we grow. Scaling is a on going battle for most payment networks. ^smile^
Post from Adam Bach on Twitter yesterdy (@adam3us)
"if you're not in a rush it's helpful to manually set fees low, otherwise fee estimation compounds your unintentional assumed default urgency"
"if you're not in a rush it's helpful to manually set fees low, otherwise fee estimation compounds your unintentional assumed default urgency"
I will have to agree with you on that, the issue of transaction fees is getting way out of hand, something needs to be done. We can't be paying so much just make transactions, banks are way too cheeper than this. At times you will end up having doubts to top up your bittrex or any other exchange wallet since the fees are too much, but at the end of the day you just have to do it anyway.
Yes, this is true the bitcoin network has the biggest fees of all networks. There were forks, but none of them have solved these huge fees. This is why Litecoin is going to increase in value 100-1000x and people say when talking of Doges "To the Moon!" . Bitcoin will continue to appreciate in the next years but bitcoin is now an asset to hold not to transact. These fees happen because of this.
I love bitcoin and everything that it's done for me but I see it as more of a store of value—like gold—than an actual currency used for daily use. Right now I use my credit cards, pay no fees, and actually make money cause I don't carry balances and take advantage of the points. But you never know, Bitcoin could get a lot faster! But first it will have to get about a million times more stable than it is right now. Exciting times to come!
The solution as I see it is not to use bitcoin for low value transactions. It's
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
But the problem with this is most people need to use it for low volume transactions. Fees right now are upwards of 5% on small amounts under $100. This is simply unacceptable... needs to get fixed asap!
I totally agree with this. bitcoin fees now is friggin high so much higher than my income. the transaction fees is so expensive that I pay more on fees than I get and its so frustrating. this is so wrong and needs to be fix as soon as possible. miners are more richer than the bitcoin earner wtf.
Thats true,its very high now. We are expecting a ; low bitoins fees or even a reasonable fees after this segwit activation. Also, the bitcoin price that goes high is directly proportional also to fees that rise significantly. Hope they can fixed this situation.
Yes it's kind high fees charge to bitcoin transaction good thing in our country we have coins.ph which transferring of bitcoin after converting into fiat has no transaction fee, I just transfer it to my bank account then withdraw them.
And also when you are sending to a the same wallet provider address or coins.ph bitcoin wallet address, there's no fee at all. The fees are depending here https://bitcoinfees.21.co/ and this is not new and that's why there are some proposals and resolutions that are being implemented just to secure a lower fee in the future. After the lightning network, I thought the price will decrease immediately.
There is no free lunch. Wake up. Sending money costs money. What do you think this is? The future?
Yes, but - WAKE UP - if me sending $5 costs $10 then this whole thing is getting absolutely ridiculous!
I thought the $3 fee was quite laughable, but today Jaxx was asking $10 to send $5 so I guess I'm done with BTC. Better leave this to the guys for whom $10,000 is pocket money not wroth picking up if it falls from their pocket.
Yea the fees are really high at the moment... I hope the bitcoin devs can find a way to scale better, BTC is meant to be a peer to peer cash system, not a storage of value... not "digital gold"...
The solution as I see it is not to use bitcoin for low value transactions. It's
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
But the problem with this is most people need to use it for low volume transactions. Fees right now are upwards of 5% on small amounts under $100. This is simply unacceptable... needs to get fixed asap!
I totally agree with this. bitcoin fees now is friggin high so much higher than my income. the transaction fees is so expensive that I pay more on fees than I get and its so frustrating. this is so wrong and needs to be fix as soon as possible. miners are more richer than the bitcoin earner wtf.
Thats true,its very high now. We are expecting a ; low bitoins fees or even a reasonable fees after this segwit activation. Also, the bitcoin price that goes high is directly proportional also to fees that rise significantly. Hope they can fixed this situation.
Yes it's kind high fees charge to bitcoin transaction good thing in our country we have coins.ph which transferring of bitcoin after converting into fiat has no transaction fee, I just transfer it to my bank account then withdraw them.
now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks
Its pretty expensive now to send bitcoin with small value because of the high transaction fees so the solution for now is to send bitcoin in high value so that you cannot feel that much the high transaction fees. Though I hope that later the transaction fees would become less expensive and if there are transactions that you can pay with fiat, then pay with it if the fees would be lower than paying it with bitcoin.
The solution as I see it is not to use bitcoin for low value transactions. It's
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
But the problem with this is most people need to use it for low volume transactions. Fees right now are upwards of 5% on small amounts under $100. This is simply unacceptable... needs to get fixed asap!
I totally agree with this. bitcoin fees now is friggin high so much higher than my income. the transaction fees is so expensive that I pay more on fees than I get and its so frustrating. this is so wrong and needs to be fix as soon as possible. miners are more richer than the bitcoin earner wtf.
The solution as I see it is not to use bitcoin for low value transactions. It's
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
But the problem with this is most people need to use it for low volume transactions. Fees right now are upwards of 5% on small amounts under $100. This is simply unacceptable... needs to get fixed asap!
The solution as I see it is not to use bitcoin for low value transactions. It's
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
that simple. If you can pay for something with cash, do it and you avoid
all of this mess. Fees are one of the biggest drawbacks to using (not
necessarily owning) bitcoin. You can't send dust anymore, and the definition
of dust is rapidly changing, no?
now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks
How much bitcoin is involved here? I mean in terms of fees.
You know a BTC0.001 USD value in the past is not the same BTC0.001 USD value today because of the price increase. Therefore, your $3 fees with the same bitcoin quantity will be different in value even the amount of bitcoin you send is the same.
About your shapeshift dissapointment, I suggest to make a research on some companies who have the same feature and try to compare their price and choose what's reasonable for you. We need to adjust and thinks of a way on how to deal with that kind of problem.
For me I suggest that never transact small amount of bitcoin because transaction fee is too high due to high value of bitcoin now, many miner increase there fee also.
Lightning network is going to lower the fees for micro transactions 
Stop complaining, just send larger valued transactions to take advantage of the platform. Instead of transmitting 10$ transactions, transmit 10,000$ transactions like everybody else on the blockchain. Come on, get with the program!
Most complaining about the large fees every transactions. This happen transactions fees become expensive because of the bitcoin value is rising. But some said and hope it would be corrected. Well, let's see and hope then. Jump to: