Topic: Bitcoin Transaction Fee - page 6. (Read 785 times)
it's worth it for now you will get fast transactions you have to be ready to lose high fees, if you have low fees low you have to be ready for slow transactions. that is a consequence for all current crypto holders and it can be used as a benchmark if the coin price has a high increase, the fee is also high.
The optimal fee rate has been quite high lately especially for those looking to transfer small amounts of Bitcoins. I decided to stop making transactions involving small amounts until the fee rate goes down.
It was quite promising at the beginning of this month, but It looks like we might hit new highs in fee rate before it drops again
It was quite promising at the beginning of this month, but It looks like we might hit new highs in fee rate before it drops again
Ransaction fees on the Bitcoin network has often given no challenges except for cases of large cluster and then the need arises for prioritizing gas fees which in turn drives the fees up by a significant percentage. I think the concept of lightening network will help solve the issues of fees in the near future, pending when he hat is deployed, we will keep at what comes and rely on devs to help remedy it with upgrades.
During April, I saw a tremendous increase in bitcoin transaction fee. I think there are enough people who want to make fast transaction that they are willing to pay miner more than usual. Quite a few people seem in a hurry to get their turn for confirmation in the next block, so anyone who wants to send a small transaction has to be patient for a longer turn. I hope the mempool can be cleaned up as soon as possible, but if the panic of trader and investor continues then maybe these expensive fee will last longer.
Here are some of the data I collect from https://privacypros.io/tools/bitcoin-fee-estimator/ about bitcoin transaction fee.
Here are some of the data I collect from https://privacypros.io/tools/bitcoin-fee-estimator/ about bitcoin transaction fee.
Many people may have complained about the very high transaction fee condition today. Currently it is not good enough to make transaction with small amount as you may not agree to the high fee. If you don't mind and are not in an urgent situation, you can still use the lower fee and wait longer for confirmation. I prefer to temporarily hold bitcoin in my wallet rather than send them directly to an exchange while waiting for the fee to down.
If you want your transaction to get confirmed on time I guess you are left with no choice than to opt for a higher transaction fee, the situation is tough on both btc and eth network, untill this is resolved (in the eth aspect) people will continue to pay higher price to get transaction proceed immediately.
Know that the recent high fee is because of mining pool in China that are not in operation for now, in less than two weeks time now the mining difficulty will be adjusted, transaction will be back to normal. Less than $100 should be able to get confirmed after the adjustment is done.
During April, I saw a tremendous increase in bitcoin transaction fee. I think there are enough people who want to make fast transaction that they are willing to pay miner more than usual. Quite a few people seem in a hurry to get their turn for confirmation in the next block, so anyone who wants to send a small transaction has to be patient for a longer turn. I hope the mempool can be cleaned up as soon as possible, but if the panic of trader and investor continues then maybe these expensive fee will last longer.
Here are some of the data I collect from https://privacypros.io/tools/bitcoin-fee-estimator/ about bitcoin transaction fee.
Here are some of the data I collect from https://privacypros.io/tools/bitcoin-fee-estimator/ about bitcoin transaction fee.
Jump to: