Topic: Bitcoin transaction cost is too high - page 13. (Read 3174 times)
I think the mining-pools of Bitcoin want to earn much money on the transaction fees. Therefore they rejected SegWit2x because the increasing of the block size would devaluate fees. Also sometimes mining-pools add to blockchain even an empty blocks.
This can be seen as an increasingly obvious disadvantage of Bitcoin, which is becoming more and more common and causing many obstacles when dealing. Transaction costs are too high for users, although the speed and processing time of transactions is slow. I think that the high value of Bitcoin is also affecting this issue. More and more new investors do not have much experience joining Bitcoin, the number of transactions is increasing day by day and that makes the block will not handle data in short time because its size isn't enough. Hope that new solutions will come out soon
Well bitcoins has attracted lot's of people interest which increases the transactions volume and many newbies has started using bitcoins and during transactions they pay very little fees which increases the number of unconfirmed transactions so people has to pay more to get their payments confirm faster.The fees now is too high i heard 25$ is recommended, i think that best solution for this problem would be lightning network it would definitely reduce fees and increase speed drastically.
If You need deposit or withdraw just use conversion Etherum or Litecoin for transactions.
i think it is in balance because even if it is high you cant experience a have a big income because if you exchance low your fee is low but if you exchange high your fee is high so do you think its expensive no it is about to balancing the price you want to exchange!
It’s really to high and it takes forever to send or receive bitcoins
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
The transaction fee has been always so high and is so impractical for transactions, especially for micro transactions. The activation of SegWit made the fee go down but it did not held up for so long. The tx fee is just difficult to control. We might end up with having more hardforks before we could arrive with the most probable solution. 2018 would be the best year to know what would be the solution.
The transaction fee is received by the bitcoin miner. When a new bitcoin block is generated with a successful hash, the information for all of the transactions is included with the block and all transaction fees are collected by that miner creating the block, who is free to assign those fees to himself. Traditionally, the sender pays the full Bitcoin network fee; deducting the fee from the amount received by the recipient will often be considered an incomplete payment, although some wallets have a "sender-pays-fee" feature where the miner fee is deduced from send amount.
I use LTC or DOGE coin to transfer, depend on situation and purpose. It very very cheap than Bitcoin transaction and faster that Bitcoin transaction
I think that the transaction costs Is a to your linking problem of bitcoin intensify, especially on top of the mainstream. Now it is the most popular crypto but if it will not be skillful to resolve its tormented when readiness of transaction and touch ahead, it is probably that additional currency will believe his place.
It will take some years before an idea to take over will happen, this ongoing issue with transaction fee will be settled in a short while,we are enjoying the high value of btc so we should not complain about the fee.
This is the most common type of problem in the Philippines or I think worldwide when we are going to invest in trading platforms, the high transactions fee. But these transaction fee or cost should not be called like this because it is indeed the miners fee. In some wallets, they have a fixed miners fee of 0.002. Way back then, when the bitcoin price was not yet too high just like today, we can still afford the bitcoin miners fee. But today, I think it is too hard. Miners fee is too material to be given just for the bitcoin you want to transfer, so to enable you to immaterially assess the miners fee, you should be able to transfer funds with high total costs.
There is nothing complex here,usually the average transaction charges you pay is around two hundred thousand satoshi and since the price of bitcoin is too much for anyone to purchase as a full bitcoin the price for that average transaction is now around forty dollars and when the price of bitcoin increases the transaction price increases,its a normal math. 
No,It is not normal math.
Time ago my fees was 1% to 10%
Now it is often 20% or more for longer send time.
Fees rate has nothing to see with bitcoin price.
It depends on the "road"
The "road" is over loaded.
There is something to be said for denominating fees in dollar value while Bitcoin rises in price. All else equal, a rising price will increase the dollar-denominated fees. I think we should discourage calculating fees in dollars, particularly if we are trying to transition to a bitcoin-denominated economy.
But indeed, the bitcoin fee rates have significantly increased. Priority fee rates are up ~ 3-4x over recent lows over the last month. I was paying 5-10 satoshis/byte a few weeks ago and I've had to increase more than 10-fold to get reliable confirmations within 24 hours. Over this period of time, that's not natural growth. It's a spam attack.
And what does it tell us?
Maybe that Bitcoin has less and less to do with commerce and real trade? Obviously, this is not natural, but the whole thing about mining and their monopoly over the fees is not natural. Bitcoin aims at becoming money, but money should be cheap in respect to transaction costs and fast in respect to transaction times, while bitcoin is nowhere near that. Essentially, bitcoin has lost its appeal to first adopters unless all they are looking for now is profits.
I think that the transaction costs Is a to your linking problem of bitcoin intensify, especially on top of the mainstream. Now it is the most popular crypto but if it will not be skillful to resolve its tormented when readiness of transaction and touch ahead, it is probably that additional currency will believe his place.
I don't think its too high although if you are a newbie then I guess it is high at the moment. I think it is just equivalent to what bitcoins price us, it adjust its fee whenever bitcoin adjusts its price as well.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
Yes if the bitcoin's value will rise up there is a tendency that the transaction fee will goes up because the demand of selling of bitcoin will increaese. will it change after adjustment since the transaction cost is being affected by the crazy price rise
Yes,This is true, and i have this problem, i can't send btc from my wallet because it costs too high, for example, for 15$ i should pay 17$ and this is really very expensive ..
There is nothing complex here,usually the average transaction charges you pay is around two hundred thousand satoshi and since the price of bitcoin is too much for anyone to purchase as a full bitcoin the price for that average transaction is now around forty dollars and when the price of bitcoin increases the transaction price increases,its a normal math.
No,It is not normal math.
Time ago my fees was 1% to 10%
Now it is often 20% or more for longer send time.
Fees rate has nothing to see with bitcoin price.
It depends on the "road"
The "road" is over loaded.
There is something to be said for denominating fees in dollar value while Bitcoin rises in price. All else equal, a rising price will increase the dollar-denominated fees. I think we should discourage calculating fees in dollars, particularly if we are trying to transition to a bitcoin-denominated economy.
But indeed, the bitcoin fee rates have significantly increased. Priority fee rates are up ~ 3-4x over recent lows over the last month. I was paying 5-10 satoshis/byte a few weeks ago and I've had to increase more than 10-fold to get reliable confirmations within 24 hours. Over this period of time, that's not natural growth. It's a spam attack.
do not calculate bitcoin price in usd.calculate by bitcoin.
its same like past so dont worry.
its same like past so dont worry.
Yes, the transaction fee in Bitcoin is same as before. But it cost more than before. Now 1 mBTC costs about 17 dollar and bitcoin is not useful for sending such amounts of money.
Yes this is so bad...i lost 13$ in one transaction yesterday used blokchain wallet...hope that transactions fees will be normal soon
As the value of bitcoin increase, I think the transaction fee also increases. But I still don't see the logic on it, how come price of sending bitcoin is much higher than before? Can anyone enlighten me?
These commission collectors think you have money on Bitcoin you earn at last perios of time more than most of men in your country so why don’t can to pay a few dozens of dollars of commission. That’s justice for them.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
The pricing of the transactions within bitcoin was just the effect of its price hike in the market. Due to the rise of the bitcoin price, it is just fair that the transactions will also be brought up into rise also making the price transactions too expensive for just one trasaction to be made. So the best thing to do to get along with this price hike is to make your transactions you make bigger than the transaction fee. will it change after adjustment since the transaction cost is being affected by the crazy price rise
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