Topic: Bitcoin transaction cost is too high - page 11. (Read 3219 times)
It just compensates with the price of bitcoin, transaction cost is reasonable in the fact that bitcoin is decentralized. Bitcoin transaction cost also depends on the supply and demand.
That's because bitcoin prices so high, so transactions fees are high too. As alternative, you can swap your bitcoin into altcoin and then make transaction, it will reduce your transaction cost.
Naturally, the cost of bitcoin transactions is quite expensive because bitcoin as a digital currency is so great. You think the bitcoin transaction price is expensive then I suggest you can change it to Ethereum or litecoin or you can also use the voucher to avail bitcoin with cheaper price. Anyone can do it with positive thoughts. 
In the past years Bitcoin transaction cost ia too high and it reached up to 60 dollars. But this year 2018 the cost of transaction dumps. Maybe because bitcoin price dumps too.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
will it change after adjustment since the transaction cost is being affected by the crazy price rise
In my own opinion, It is ok for me to have a high fees if the exchanger sites are also secured because some of the sites are scamming people and because of that, more and more people are hating bitcoins. The value of bitcoins today is very high and it already reached 15k dollars so its normal to expect that the value of fees will also increase.
the bitcoin transaction cost increment is very reasonable because it is offset by very high bitcoin prices from day to day. and that's normal because in addition to bitcoin a lot of other coins that have increased transaction costs.
Since the trend of Bitcoin price is still increasing, I suggest that you use Etherum or Litecoin instead to convert you money so the transaction fee is smaller.
Yes, this is what makes bitcoin transaction costs constantly expensive, as happened some time ago when the network was busy I had to pay a fee of more than 0.0035 in Xapo.
Fees are rising constantly for the Bitcoin transactions. The hope lies in the new transaction system that will come soon and it will allow transactions with a low even a zero fee. Transactions will be done almost instantly. Right now Bitcoin is suffering from the blockchain capability to produce a low fee.
Things will change very soon and the time for the Bitcoin growth will come again.
Things will change very soon and the time for the Bitcoin growth will come again.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
will it change after adjustment since the transaction cost is being affected by the crazy price rise
Seriously this is not understandable. The fee is way too high now and for people who want to send small amounts they have to pay the fee almost similar to the transaction amount. The overall structure of fee is not changed, its just that the value of bitcoin is increase a lot. So even if we send a very minor amount of satoshi, the fee for that when converted to dollars is a lot.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
will it change after adjustment since the transaction cost is being affected by the crazy price rise
Seriously this is not understandable. The fee is way too high now and for people who want to send small amounts they have to pay the fee almost similar to the transaction amount. The overall structure of fee is not changed, its just that the value of bitcoin is increase a lot. So even if we send a very minor amount of satoshi, the fee for that when converted to dollars is a lot.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
The problems is there are too many bitcoin users on bitcoin network more than the mining power that can handle the transactions at once. Based on what I learnt the bitcoin transaction fee even dropped today because people are paying an average of $26 per transaction. Weeks ago people were even paying up to $80-120 per single transaction. will it change after adjustment since the transaction cost is being affected by the crazy price rise
Average fee: coincap.io
I think bitcoin transaction cost is too high but in my experience i have no option but to pay the transaction fee because it is the only way to withdraw or cash it to become fiat to be able to used for payaing bills, buy something that we need and even our wants. So even the fee is too high i cant do but to pay it to transact.
Yes bitcoin transaction cost is too high. if you are too worried about it better you convert them into alt coins like ETH, when you want to make transaction....
If you think the bitcoin fee is too expensive, I suggest you convert your bitcoin to ethereum/doge/litecoin,
and the total fee which you paid by converting your bitcoin is more smaller than the current bitcoin's standard fee.
The fact is that not all have the opportunity to use, say, to sell tokens and transfer them to fiat not bitcoin, but other coins. The most common option is bitcoin and in many cases there is simply no choice. Perhaps in the future, when the infrastructure for servicing the crypto currency will develop properly, new applications, websites, exchanges, exchangers will appear, etc., then such an opportunity will appear. In the meantime, we have to use bitcoin with its hanging and expensive transactions. and the total fee which you paid by converting your bitcoin is more smaller than the current bitcoin's standard fee.
Bitcoin transaction charges are increased,bitcoin miners increased their charges.
Making small payments is not an option using BTC these days. Wondering why memory pool isn't just a FIFO queue and transaction cost fixed in satoshi/byte (100 satoshi/byte or something like this). Much more simple for everybody - at least you'll be able to estimate how long would take for a transaction to complete.
after price was so crazy fee start also being so crazy. more than 1 month and you must pay high fee and wait long time.
crazy price rise not have any affected in fee
You can think of it as a donation to the network, you have a lot of fluctuations, and therefore it will not make a difference to pay $ 1 or $ 10 in fees if you earn $ 1,000.
give to a week or more and Bitcoin transaction cost will back low
crazy price rise not have any affected in fee
You can think of it as a donation to the network, you have a lot of fluctuations, and therefore it will not make a difference to pay $ 1 or $ 10 in fees if you earn $ 1,000.
give to a week or more and Bitcoin transaction cost will back low
yes bitcoin transaction fee is insane, it's like 10% of transaction amount, so I exchange my bitcoin to ethereum before cash out.
I hope the cost will get down soon
I hope the cost will get down soon
Maybe in value its too high but 0.001 btc transaction fee nowadays are just in the minimum requirements to be paid for not that fast transaction but not that slow too,yes traffic happens sometimes but its just sometimes and bitcoin still come through
Because we need quick response from our transactions that's why some of us are willing to pay high fees just to process their request.This is not gonna be that way forever. Beastly transaction costs as well as slow confirmation times are killing bitcoin, slowly but surely. In a nutshell, people are dicouraged from transacting with this cryptocurrency, and ultimately, only big cryptowhales can afford that. I don't think it bodes well for it in the long run, and this is definitely not how Satoshi envisioned bitcoin. He envisioned bitcoin to be Internet money but we are far from that already.
I hope you are right and this will not be till forever. Because transaction fees are becoming unreasonable every day. Even if you will send a little amount of btc , you have to pay a lot of transaction money for that. If that keep on, it will be effecting bitcoin's future.
It is already affecting bitcoin in very dangerous ways. I don't follow cryptomarket cap figures closely but from what I read around here, bitcoin's share seems to have dropped to measly 30% already. Imagine what its price might have been if people hadn't had to wait literally days till their transactions get confirmed, if ever, and pay these absurdly high fees. It's a complete failure if you ask me.
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