Topic: Bitcoin transaction cost is too high - page 20. (Read 3200 times)
I agree that transaction fees is really high now, but I hate more how long it's need to complete transaction. This days there are many new people starting with bitcoins so there are transaction volume little higher then usual. I hope it will be solved with new lightening network that they tested last days.
How to manage BTC transaction fee. To all all costs in advance & be sure that transaction will be transmitted. Any hints?
What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise
Currently only the congestion in the network is causing the huge fees upto 350 sat and more, if you consider 100sat/byte as fine fee then we should be back to it if BTC somewhat stabilizes and people stop flooding the mempool with transactions. But obviously this isnt a soultion to the high fees and already BTC is lacking in becoming a real currency because of these high fees, the lightning network can solve this so lets see. 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
I hope that will be some softforks to increase transaction speed and decrease fees, because it is really high now. will it change after adjustment since the transaction cost is being affected by the crazy price rise
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.
yeah i always do the same with you when i sent my balance to another accounts. and the total fee which you paid by converting your bitcoin is more smaller than the current bitcoin's standard fee.
almost convert all of them in to doge coin before make a transaction.
Due to the increase price of bitcoin value the transaction fees
or getting very high, I hope this issue can get solved by the bitcoin
online bank merchants. But I think it will be fine after the bitcoin
price gets stable.
or getting very high, I hope this issue can get solved by the bitcoin
online bank merchants. But I think it will be fine after the bitcoin
price gets stable.
Too bad that is is not easy to fix. maybe a good fork will do the trick
the reasons for the current high fee when converted to FIAT are dual:
1) the fact that the current transaction volume is higher than the capacity of the blocks
2) bitcoin does not care about the fiat value... The current fiat value went trough the roof, so when you payed a 0.001 BTC fee in the past, the fiat equivalent was much lower than when you're paying a 0.001 BTC fee right now
I do agree that the fiat price of an average transaction fee is waaaay higher than it *should* be, but like others have already said: the lightning network is being developed, and if more and more people would switch to a segwit wallet, the problem should also become less pronounced.
1) the fact that the current transaction volume is higher than the capacity of the blocks
2) bitcoin does not care about the fiat value... The current fiat value went trough the roof, so when you payed a 0.001 BTC fee in the past, the fiat equivalent was much lower than when you're paying a 0.001 BTC fee right now
I do agree that the fiat price of an average transaction fee is waaaay higher than it *should* be, but like others have already said: the lightning network is being developed, and if more and more people would switch to a segwit wallet, the problem should also become less pronounced.
Recently I read in news that lightening network is being tested and a transaction was successfully made upon it. If lightening network came out to be successful, then yes, there would be a huge fall in fees on the transactions which will be executed on lightening network. This is something which has the potential to boost bitcoin utility and adoption to much greater extent and might solve the long going scaling problem. Right now, these slow transactions and high fees are limitations o bitcoin development. Things are being done to solve it. Have patience!
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.
and the total fee which you paid by converting your bitcoin is more smaller than the current bitcoin's standard fee.
If You need deposit or withdraw just use conversion Etherum or Litecoin for transactions.
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
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