Topic: bitcoin transaction fees are abnormal (Read 263 times)
Do yourself a favor, and stop using freaking legacy addresses. Consolidate your funds in SegWit addresses instead.
The better way for now wait when bitcoin core completes lightning network.
For exchanges we can exchange funds to other crypto and easy transfer
For exchanges we can exchange funds to other crypto and easy transfer
I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
my god, crazy fee for btc, almost 20% for withdrawal. maybe it's right time we shoud shift to altcoin So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
This is really a big problem for bitcoin, network congestion and high fees are making other crypto users to look for a cheap and alternative way to send money. If this is not resolved this will be the start of the end of bitcoin.
I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
We have an announcement in Coinbase.com that they are woking on the backlogs. I am sure once the backlogs are cleared, the trasaction fees may get reduced. .0012 is so costly here. Even localbitcoin.com as well, costs .0009 for incoming trasactions. So when you change .005 into your fiats, you would almost loose .0021 btc. Really worried at the cost.
Wait, what backlog? Their users' transactions? Because I'm pretty sure they have no control over that. That's why they're charging high fees in the first place -- so that their users' transactions can be confirmed as soon as possible.
What they can really do to help clear the transaction backlog is to use Segwit. I know that they already plan to have it implemented by the end of the first quarter of 2018, but man this should have been a long time coming.
Yeah the cost is worrying, but the crypto market as a whole is in a complete uproar right now. Some exchanges are even denying registrations. Crypto grew too big too fast, and while that shouldn't be too much of a problem long-term, it's pretty inconvenient at the moment.
I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
The blockchain network still congested, there are so many pending or unconfirmed tranasction right now. Its not recommended to make a small transaction using bitcoin. Try to use other altcoin for your transaction, it has smaller fees compared to bitcoin. Make it temporary till the bitcoin transaction fee go back to normal
I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
I have also experience this and made me think how come transaction fee keeps on rising. For this reason I tried to diversify my fund for platforms which doea not require big amount of transaction fee. I think aa bitcoin keeo on rising bitcoin transaction fee will also increase. This should be develop and be fix before people transfer to another one.
There actually other coin who offers smaller transaction fee, this made people choose bitcpin over it. Personally I prefer eth to transfer fund because I find it cheaper that bitcoin.
these may seem to be a problem especially if you are doing transactions with smaller values.
that is why it will be better to accumulate bitcoin first on a bigger amount before doing any transfer in order to save from transaction fees.
and we can't really do anything about this.
all we can do is accept it.
that is why it will be better to accumulate bitcoin first on a bigger amount before doing any transfer in order to save from transaction fees.
and we can't really do anything about this.
all we can do is accept it.
I think you should aware on the fees before withdrawing and if you are active and old here on the bitcoin world, you are not surprised with this. Transaction fees are truly high, and so far, its the only way of getting a withdrawal.
I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
We have an announcement in Coinbase.com that they are woking on the backlogs. I am sure once the backlogs are cleared, the trasaction fees may get reduced. .0012 is so costly here. Even localbitcoin.com as well, costs .0009 for incoming trasactions. So when you change .005 into your fiats, you would almost loose .0021 btc. Really worried at the cost.
I personally have nothing to say the cost of bitcoin is% of the bitcoin value and since bitcoin has 10x since last year you have to have cost also will be 10x from last year. The cost roughly goes up slightly higher than this but until they apply LN there's nothing we can do if we want to transact on BTC. If you have a small amount, try using DOGE coins or DAG coins at zero cost for transactions if possible.
That's not all it takes time for the transaction to be confirmed by the miners especially when you choose the low priority ones take it into account as part of my friends experienced but talk about the transaction fee. Man it's all of our incomes are being served to them. They are like preventing the increase of demand of bitcoin.
Sent a payment of 0.26 cents a couple of days ago cost me more than $12.00 in fee's. People think that lightening network will be the answer to our prayers, it appears that we are being directed to that as the only solution to the current fee structure. This won't work unless each of your neighbors has at least the same value of BTC in there wallet, as you want to send. This is going to mean that hubs will have to be created with vast sums of btc in them, to make it work, looks like we are coming full circle again and back to those people that control the banking industry!!!!
Why are the transactions fees so big. What is the point here?
Don't be angry. Just calm down and pay fees. Don't wait that transaction fees will be lower in the near future. The Lightning Network is just a banking outside of the blockchain of Bitcoin.
yes, bitcoin is geting popular make the busy traffic, for now bitcoin is not good for low amount transaction. I don't know until when bitcoin cost like this.
Well, fees are out of control really, for 14.99 USD i have to pay transfer fee 22.19 USD, please guys, explain this???
I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
So, to the end BTC address there was only 0.00461678 BTC!
Why are the transactions fees so big. What is the point here?
BTC fees is not just abnormal but it has gone crazy. Reason for downfall of BTC will be high transaction fees with long confirmation hours. This is the reason, traditional investors has shifted to altcoins. BTC dominance also got down to only 33% today which use to be more than 50% because of this high transaction fees.
When I started using bitcoin around 5 years ago, the fee was cents and the low processing fees were the argument. Nowadays, they charge even a higher percentage than all existing fiat money processors. So it is time to add some other crypto wallets to your repertoire for sending lower amounts.
Thank you all for your comments. Yes, 20% of a fee is way to much but I didn't see any other options becuase I actually made the transaction from Coinbase to another exchange where I wanted to buy some small amount of new altcoins and I needed BTC for the purchase.
I guess in the future I would need to exchange BTC on Coinbase to ETH for example, then transfer the ETH to another exchange. On this other exchange change back the ETH to BTC and make the purchase or just transfer some bigger amounts of BTC as you pointed out..
It is all getting quite complicated and it seems I will need to spend a lot of time calculating for the best methods just to buy some altcoin the easiest way and without being robbed by way overrated fees in the process.
I guess in the future I would need to exchange BTC on Coinbase to ETH for example, then transfer the ETH to another exchange. On this other exchange change back the ETH to BTC and make the purchase or just transfer some bigger amounts of BTC as you pointed out..
It is all getting quite complicated and it seems I will need to spend a lot of time calculating for the best methods just to buy some altcoin the easiest way and without being robbed by way overrated fees in the process.
Hopefully with lightning network the fee will become much lower, now it is insane and it will not help the bitcoin.
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