Bitcoin transaction fee is fixed or not?

cicciobtc

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Quote from: Panda Trump on December 02, 2017, 05:37:02 PM

Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Bitcoin transaction fee fluctuates a lot. It depends on how many people want to send their transactions and how many of them want to push them in front of the others.

Basically, your transaction fee also depends on the size of your transaction, but it's mainly the huge amount of traffic on the Bitcoin blockchain that's making it fluctuate so much.

A good site to check what Bitcoin fee to send: https://bitcoinfees.earn.com/
A graph of the Bitcoin Transaction Fee I found: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

many wallets give an automatic estimate of the fee to be entered for the transaction, but the sites indicated are very useful to set the best fee.
it is important to find the right balance between the lowest fee to be sent and the highest probability of its confirmation!

DaMut

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Quote from: Wipro on December 14, 2017, 08:29:21 AM

Quote from: Mymikagab on December 14, 2017, 08:11:42 AM

Its depends on your transaction if your transaction is bigger you know your fee is big.me sometimes i withdraw wth amount of 0.003 that is only small fee

Are you really making transaction or simply blabbering here. Whether you send 0.003 btc or 0.3 btc you will get the same fee for both the amount so understand that first before using the wallet. Fees would be differs according to wallet provider.
Some desktop wallet shows you the cheap price as fees but it takes much time you are making with the desktop wallets. Kindly try to have funds in multiple wallet so when you needs that time you will be take it out easily.

well he might be telling us about the fees instead of the transaction.
we can tell that from the way he's talking to us,i believe he's using google translate to translate it.
so take it easy my friend.

the transaction fees is not fixed or at this moment we will not see that.
because many people can change their fees based on their goal.
for example i am using 100.000 satoshi for every transaction that i made,i did it because i want to get my Bitcoin as soon as possible.
compared to other people,
i am using a fees that slightly higher from average transaction that many people used.
in other words,
the fees will not fix at certain number until we're finding a new technology to fasten the transcation.
also based on the total that we're spending on satoshi,
we also can see the change that can be happen with its value when the price is pumping or dumping.

Wipro

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Quote from: Mymikagab on December 14, 2017, 08:11:42 AM

Its depends on your transaction if your transaction is bigger you know your fee is big.me sometimes i withdraw wth amount of 0.003 that is only small fee

Are you really making transaction or simply blabbering here. Whether you send 0.003 btc or 0.3 btc you will get the same fee for both the amount so understand that first before using the wallet. Fees would be differs according to wallet provider.
Some desktop wallet shows you the cheap price as fees but it takes much time you are making with the desktop wallets. Kindly try to have funds in multiple wallet so when you needs that time you will be take it out easily.

Mymikagab

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Its depends on your transaction if your transaction is bigger you know your fee is big.me sometimes i withdraw wth amount of 0.003 that is only small fee

Aleister Crowley

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Quote from: jvdp on December 02, 2017, 10:09:25 PM

Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Bitcoin transaction is depends on the network congestion. This is a many transaction is doing in same time. This take some time to transact the Bitcoin. This transaction time is fixing the transaction fees that means miners are fixing the amount. So avoid less transaction amount. You should hold more Bitcoin then transacting your Bitcoin. This is reduce the transaction fees and transaction time.

when found the transaction fee is less ,. it is ascertained that bitcoin transaction speed will decrease and will reach a considerable amount of time .. and that is what causes the network to become bogged down with hundreds of jamming transactions causing transaction fee to be high .. but that is only for a moment and when all problems are settled, become normal

jvdp

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Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Bitcoin transaction is depends on the network congestion. This is a many transaction is doing in same time. This take some time to transact the Bitcoin. This transaction time is fixing the transaction fees that means miners are fixing the amount. So avoid less transaction amount. You should hold more Bitcoin then transacting your Bitcoin. This is reduce the transaction fees and transaction time.

dillpicklechips

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Quote from: Panda Trump on December 02, 2017, 05:37:02 PM

Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Bitcoin transaction fee fluctuates a lot. It depends on how many people want to send their transactions and how many of them want to push them in front of the others.

Basically, your transaction fee also depends on the size of your transaction, but it's mainly the huge amount of traffic on the Bitcoin blockchain that's making it fluctuate so much.

A good site to check what Bitcoin fee to send: https://bitcoinfees.earn.com/
A graph of the Bitcoin Transaction Fee I found: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

In other words, Bitcoin's transaction fee varies base on the traffic and what other people pay for. If you have noticed way back months ago where there are about 200k uncomfirmed transactions and people have been competing to get their transactions confirmed faster resulting to paying much more tx fees but as it subsides then the tx fee subsides too.

jagster

newbie

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Just gotta look at the transaction fee as an incentive for the network to compute your transaction.

The higher the incentive, the more likely you are to have your work performed by a miner. If the work is hard and miners are busy, you gotta make it worth their while to pay attention to you, or wait your turn at the back of the queue. Supply and demand at work, my friend.

Oh and it's always about the profit; difficulty is the resistance to that.

Ctn

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Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

It is not same always becaus it depends on the miners community so that they can increase or decrease the load of transaction if situation like millions of unconfirmed transactions came into effect. Yes, this and many other reasons could be reason for that. They do it for their easiness and sometimes they will do it for profits.

However, note that for any transaction you can set your own limit and depending upon the fees you paid you will have your transaction confirmed through various blocks. If you pay lowest fees then it could take more than 50 blocks and if you invest like highest fees then it could be confirmed within next 5 blocks also. That’s how it works really.

Icaxx

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Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Recently fee of sending bitcoin is hot topic inside and outside this forum.
High fee with small transaction make people scare about it. I know the simplest about fee, the fee is not fixed and it depend on the volume of your transaction.

deadsilent

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No. Bitcoin transaction fee is not fixed. It only move because the network is busy and loaded at the moment. I think Bitcoin can only handle 7 transactions per second and that's pretty low. We all know that theres so many people who are using Bitcoin. Of course if you want faster confirmation time. You must be on a priority, which can cost you a higher fee in able to make your transaction fast. I heard also that someone is spamming the network with fake transactions to make transactions slower. The only one who benefits from this are the miners because they get high fees. That's why it's very impractical to use Bitcoin at any small transactions because of the crazy fees. Lightning network i think can fix this. The question is, when?

filharvey

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Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

It depends upon the market congestion.It as very high earlier and after segwit activation,its far better.But due to huge number of spam transactions,once again the fee has increased a little.It would be better for you to download electrum wallet from its official website Electrum.org and not from fake websites.Here,you can manually set your transaction fee.

Question123

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Sometimes the transaction fee is depends on the amount of bitcoin you send . If you send big ofcoarse the fee also big but if you send small it only small fee also. But sometimes even you send small amount the fee is high sometimes the fee is higher than 5 dollars and that's not good. I hope the transaction fee will decrease so we can save more money.

Anonylz

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What do you mean by fixed? They are very cheap at the moment, if you are trying to send $10 or $15 worth of bitcoins then it is not worth it, because the fees are probably a 25% of the total amount of money that you are trying to send in that transaction.

The best thing that you can do is just buy a nano ledger wallet, you can setup your own fees, and of course, choose to pay less money (because they have segwit implemented)

Or download electrum wallet, it has the same features than the ledger one, and it is free because you can download it.

Kindless

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Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Get electrum wallet or other were you able to set up a desirable fee.

Panda Trump

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Quote from: gsm_sharif on December 02, 2017, 05:10:12 PM

Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Bitcoin transaction fee fluctuates a lot. It depends on how many people want to send their transactions and how many of them want to push them in front of the others.

Basically, your transaction fee also depends on the size of your transaction, but it's mainly the huge amount of traffic on the Bitcoin blockchain that's making it fluctuate so much.

A good site to check what Bitcoin fee to send: https://bitcoinfees.earn.com/
A graph of the Bitcoin Transaction Fee I found: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

gsm_sharif

newbie

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Bitcoin transaction fee is so fear.Is bitcoin transaction fee is fixed for any amount transaction?plese anyone explain me.

Topic: Bitcoin transaction fee is fixed or not? (Read 350 times)