Bitcoin transaction cost is too high - page 8.

dohh

jr. member

Activity: 332

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Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

What is happening, is a start of collapse of this scheme. Miners get paid exponentially less with every halvening. So they need to put expensive price of mining into fees.
What will happen soon: transaction costs grow even more and when it will become unreasonable even to speculate with BTC, whales will leave BTC. Price will collapse into next to nothing. I give it maximum 1 year.

MarieMoore12

newbie

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Bitcoin transaction fees over the past few days have been reduced to about $ 1 for mid-range payments, despite the fact that the Bitcoin mempool size is still above 120 million bytes. Bitcoin purse platforms widely used such as Blockchain are offering a fee of 55 satoshi per byte, well above the $ 1 level for average transactions. Earlier, just a month ago, Bitcoin transactions were up to $ 30 for medium-sized deals, particularly for wallet platforms and Segregated Witnesses.

yousuf5

copper member

Activity: 70

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high transaction cost is normal and it is as a result of increasing rise in value of bitcoin. however i think online bitcoin wallet like coinbase and blockchain offer lower transaction cost than other desktop wallets like electrum.And, i hope in the future all exchange and wallet can speed up all the process of sending funds in any case.

Dmitry.Vastov

hero member

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Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

As we all know that bitcoin is entirely a decentralised crypto currency and being decentralised there is as such proper authentic regulating body over bitcoin who could keep eye over all illegal activities or other activities associated with bitcoin and one of such issue is high transaction fee, yes now a days people around a world, suffering the issue of high bitcoin transactions fee and what I feel is that all these issues will be sorted only when bitcoin will be declared as a central currency globally.

Cult

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Enter the future of gaming

Quote from: muhammedb on July 29, 2018, 02:03:09 AM

Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

Yes think transaction fee is really killing it investors and secondly the transaction speed don't even worth the amount of fee. I guess is this why many people are running away or dumping bitcoin for altcoins which is really causing harm to it community.

It's pretty ignorant for these people to dump btc at that stage as the lightning technology which is already working in a test regime can solve both transaction speed and cost issues.

Sam San

sr. member

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Quote from: jakezyrus00 on July 29, 2018, 01:08:49 AM

Yeah btc transaction cost is quite too high and all of us already knows it but we cannot to anything about it. It is just understood by the users because it is part of the reason why bitcoin value is still high and continuously increasing.

the cost of the transaction is reduced in bitcoin cash, but it did not give him any special advantages. so the cost of the transaction is not yet highly appreciated by users, they need the asset itself.

Eden Thompson

copper member

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Bitcoin has a problem with scalability because it relies on PoW mining and we want to avoid further centralization pressure.
PoS coins have completely different scalability considerations, they can support 100x transactions per second without breaking a sweat.

Miguel Fulton

jr. member

Activity: 32

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It's 8 year old technology........
Should of progressed better then this, but this is why I feel other coins have came to exist. Because bitcoin took too long too find solutions. Take any technology and look at it 8 years ago compared to today, it's completely different and advanced to suit the current needs. Anything that doesn't, gets left behind.
Most technology progresses ALOT in 8 years, and bitcoins plan from the beginning was mass adoption and worldwide use by anyone and lots of cheap transactions. Creating something to solve those problems(bitcoin) and not having a solution to what you are going for, 8 years later, really is troubling.

muhammedb

full member

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Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

Yes think transaction fee is really killing it investors and secondly the transaction speed don't even worth the amount of fee. I guess is this why many people are running away or dumping bitcoin for altcoins which is really causing harm to it community.

samvel86

newbie

Activity: 294

Merit: 0

Yes it is expensive, and from time to time it seems like you spend unnecessary money. But profit sometimes closes the gap. In any case, I'm happy with the high income, of course, it would have been better if we had to make lower fees.

juperos

member

Activity: 459

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Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

I think Bitcoin is suffering a deficit in investing or expanding its business so they need to increase their transaction fees to make more money. I think it will only increase in a short time and everything will return to normal. There are still a lot of transactions happening in a day and there are almost $ 4 billion in daily transactions.

jakezyrus00

full member

Activity: 406

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Yeah btc transaction cost is quite too high and all of us already knows it but we cannot to anything about it. It is just understood by the users because it is part of the reason why bitcoin value is still high and continuously increasing.

Opera1p

newbie

Activity: 67

Merit: 0

Due to its position among the crypto,its transaction fee is too high... But I will advise people to covert it to ETH, the transaction fee is quite to its normal transaction

hongxh

newbie

Activity: 39

Merit: 0

Some coins like Neo don't have transition fee. It is free.

alexs_03

jr. member

Activity: 197

Merit: 1

What i know it's because the priced of bitcoin. But i reading your posts and other blog bitcoin transaction fee is too high. And, i hope in the future all exchange and wallet can speed up all the process of sending funds in any case

Raidal

full member

Activity: 560

Merit: 100

Indeed some time ago many people complained of transactions with bitcoin. This complaint is due to high transaction costs and long transaction time. Not to mention the frequent instability when hard fork occurs. But I've seen the current bitcoin effort that keeps improving. The bitcoin development team seeks to continually innovate bitcoin so that bitcoin is increasingly in demand. Not easy to create new innovations because competition in the world of crypto currency is very tight. Many crypto currencies are vying for public trust.

lestariptr

full member

Activity: 287

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I think the transaction fee on bitcoin is fair enough. Indeed for some people this is too high. But somehow this is a fair cost. Just imagine the cost can be used for different countries. Does that seem fair enough? So do not think about transaction costs on bitcoin anymore. That's just my opinion.

fipper

member

Activity: 383

Merit: 10

Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

indeed for the current very high transaction costs I think it has become commonplace in the investment system required only patience and confidence in this investment

MMA

legendary

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Quote from: fianaindriati on July 14, 2018, 10:13:20 AM

Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

if you think the cost of bitcoin is too high, better find a coin that is enough with the cost you have as now there are many coins that appear. but that does not mean you can choose origin because at this time many coins are scam

I think it is not the solution to choose another coin for investment, to me i think it is the bad news for the bitcoin popularity because people do not like it to pay a high fee for transaction purpose only.

muhammedb

full member

Activity: 378

Merit: 108

Quote from: tasiah on December 13, 2017, 06:01:34 AM

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

Yes the bitcoin fee is too high and the even we the market price is low it seems not to be affecting the transaction fee, I think the best thing to do is to convert bitcoin to any other altcoin before transfering it to reduce the cost, my question is What about does that do use bitcoin as a miss of payment how do about it?

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