Topic: Bitcoin transaction cost is too high - page 18. (Read 3174 times)
Personally if I need BTC and I have it in an exchange, I always try to transfer with another coin to Poloniex, it has one of the lowest tx fee for BTC nowadays.
Bitcoin transaction is too high now for the high amount of pending transactions in blockchain . Hope it will solve soon . As the other crypto currency transaction is still low so bitcoin transaction should have also low cost . Hope blockchain will be stronger than before and will decrease the cost in the near future .
The reason why it looks high right now is because Bitcoin's price is now above 16000$ making it look high as the value of Bitcoin is expensive. But in terms of Bitcoin it has still remained the same. The network fees in Coinbase are around 70,000-85,000 which I normally see even before Bitcoin reached the price of 3,000$. I really hope that the implementation of the Lightning Network will improve the fees and transaction speed. Right now it is best not to use Bitcoin as a mode of payment.
Don't you think that fees should be revisited so that it should be lowered? Most of the suggestions here are to use alt-coins when transferring to lower the tx cost. I think that move is bad for bitcoin.
Others do not trust Lightning Network because it makes bitcoin an alt-coin.
Hope, the fees could be lowered, that will reflect the current price of bitcoin, so it will remain usable. NO one wants to use bitcoin if it takes tens of dollars just to move a few sats.
I think it's really worth the coins.ph they charge the cost of their site there but I'm in blockchain you're just steady with the 0.0002 bitcoin fee as well as the coinpayment.net site steady only at 0.0002 bitcoin the fee but where do you want the wallet to be with you that you have to be there, do not believe in other wallets that are not legit since most wallet sites are scams but with blockchain and coinpayment and legit and have long running the wallets that's it.
I guess it is so high too. But you know, they can always argue that this is due to the influx of Bitcoin demands. With such, everything increased including electricity costs. This all resulted to the decreased bargaining power of Bitcoin investors because the supply of the admin can hardly compensate the demands. I am hoping things will get better otherwise Bitcoin investors will just end up getting robbed of their earnings.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
The transaction fee is high due to more traffic in the blockchain network but it will be resolved soon,so the fee will be decreased in some days.But we need to find a permanent solution for transaction fee or it will affect the future of bitcoin.The lightning network is the option to overcome this problem so it have to be implemented soon. will it change after adjustment since the transaction cost is being affected by the crazy price rise
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
we should use altcoins like Ether or Litecoin for transaction or buying other new coinwill it change after adjustment since the transaction cost is being affected by the crazy price rise
Problem is in our country we cannot buy ETH and LTC directly and have to exchange with BTC first.
OTC is way too much risk and hassle to do.
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
we should use altcoins like Ether or Litecoin for transaction or buying other new coin will it change after adjustment since the transaction cost is being affected by the crazy price rise
I think that's a natural thing if bitcoin transaction costs are expensive, because bitcoin is a great digital currency.
if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.
No, that is not natural. The lightning is being developed and tested. I saw an article its been successfully deployed on the mainnet test, It should help to reduce the transaction fees and the transaction confirmation. if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.
It is true . Is bitcoin fee fixed for any amount or it is depend on how much amount you are going transfer ?
Thank.
Thank.
I've actually given the correct answer in this very thread... It's not fixed, and it's not dependant on the value of the transferred BTC.
The fee depends on the size (in bytes), the size (in bytes) depends on the NUMBER of inputs and outputs, not on their value.
The transaction fee is high because the memory pool is filled with many transactions. It happens whenever the mem pool exceeds 100mb in size.
You can see the current fee and the mem pool size in https://btc.com/stats/unconfirmed-tx . The transaction fee will lower when the mem pool is decreased in size. The problem of high transaction fee will not be solved until the lightning network is released and we will have to pay these fees until then.
You can see the current fee and the mem pool size in https://btc.com/stats/unconfirmed-tx . The transaction fee will lower when the mem pool is decreased in size. The problem of high transaction fee will not be solved until the lightning network is released and we will have to pay these fees until then.
I think that's a natural thing if bitcoin transaction costs are expensive, because bitcoin is a great digital currency.
if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.
if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.
It is true . Is bitcoin fee fixed for any amount or it is depend on how much amount you are going transfer ?
Thank.
Thank.
I just paid 33 dollars for a transaction with a few inputs... I feel sad to see bitcoin this way, i hope it can recover soon to its great days.
$33 for an average transaction seems a bit excessive.
https://bitcoinfees.earn.com/ teaches us that you'd need 380 sat/byte for a 95% chance of getting in the next 3 blocks. For an average, non-segwit, transaction of 226 bytes, that would come to ~86000 satoshi's = 0.00086 =~ $14 (at current preev rate).
Granted, this is way higher than i'm comfortable with, but if you payed $33, it either means you had a large transaction (many inputs/outputs) OR your wallet screwed up.
Mind telling us which wallet you were using?
I just paid 33 dollars for a transaction with a few inputs... I feel sad to see bitcoin this way, i hope it can recover soon to its great days.
If You need deposit or withdraw just use conversion Etherum or Litecoin for transactions.
yeah, you can use Ethereum and pay $2.5 for a transaction and still be stuck because some big ICO is clogging up the Ether network for good or maybe some cryptopuppies this time is causing the same issue. and your transaction may not even propagate and disappear every 2 minutes.
all in all very good choice /s
Yes, Bitcoin transaction cost is too high that is why most of the time when i do a deposit or withrawal and i see the transaction is high i wait for an hour or i check the transaction time to time and withdraw when the transaction fee are lessen. I do that when i am sending out Bitcoin from my coins.ph web wallet.
very high. and very long for each transaction. You have to spend more than 10 breads and take 3 days to complete a bitcoin deal. Bitcoin transaction speed is too slow. So I advise you not to use bituminous to swap
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
Yes i agree with you now bitcoin transaction fee is more than expensive than before. But it causes density in the blockchain network that causes the length of the transaction process. so the fee is increased so that the transaction process is fast.
It's not, in the future, it will be higher and higher, only sky is the limit
Jump to: