Topic: bitcoin transaction fees has put me out of business - page 3. (Read 1186 times)
This cannot be true, it is a really secured network and you can totally rely on this.
Transaction fee now is good compared to the december 2017. I experinced before 20 dollars each transaction but it's only cents and that is good because we can save more bitcoin instead of paying high transaction fees. I hope this year and coming few years it will be stable with low fees.
It is because of this, it is making small businesses to go off.
You can't change people's minds. What you see now is the result of people's consensus, just as they only accept gold as the standard for measuring prices, and Bitcoin is their only recognized coin!
In the year of 2015, I started to do some transactions in the bitcoin community but it is good in that time the fee's in the blockchain tech is very light and very cheap but after the increase of bitcoin a year passes the fee's started to increase too and that's what people are talking about when the value goes up. if they can fix that for sure it will increase again maybe the bull will comeback early 
The developers are working precisely on that, they know that the fees need to go down if we are really expecting people to use bitcoin as a currency once again and I am sure they are going to be successful in the implementation of the lightning network and then people will stop complaining about the fees which are not as high as they were one year ago. 
Bitcoin is the most popular, secure, stable and accepted cryptocurrency at the moment. Accepting cryptos is a risk on its own, any other than bitcoin is not feasible at the moment.
Transaction fees also maligne traders who make numerous trades per day, as it eats unto the potential profits.
Although Bitcoin is one of the most popular coins in the cryptocurrency market, trading with Bitcoin has made trading difficult for many investors. In addition, Bitcoin has a slow pace of transaction, which is two things that Bitcoin needs to update to meet the huge investment needs today. Transaction fees also maligne traders who make numerous trades per day, as it eats unto the potential profits.
Over years now bitcoin transaction fees has been so high. However, if you send with low gas you will that the transaction may deliver the next day. Besides, if you really main business and you are ready for it trade all you asset in ETH and also use ETH transaction. ETH have a low gas transaction.
In the year of 2015, I started to do some transactions in the bitcoin community but it is good in that time the fee's in the blockchain tech is very light and very cheap but after the increase of bitcoin a year passes the fee's started to increase too and that's what people are talking about when the value goes up. if they can fix that for sure it will increase again maybe the bull will comeback early
The only people who are currently benefiting from bitcoin transactions now are the miners, the transaction fees are insane,,
so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Because things are never that simple, the reason the fee in other coins is cheaper is because no one is using them, just a few weeks ago I made a transaction and the fee was very cheap because the mempool was empty now that the price of bitcoin is going up is likely the fees have increased, but something you can do to reduce the fees is to use a segwit address.so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Bitcoin is the most popular, secure, stable and accepted cryptocurrency at the moment. Accepting cryptos is a risk on its own, any other than bitcoin is not feasible at the moment.
Transaction fees also maligne traders who make numerous trades per day, as it eats unto the potential profits.
Transaction fees also maligne traders who make numerous trades per day, as it eats unto the potential profits.
Tx fees always tends the increase and miners are the ones always enjoying. Come to think of it, mines are always in profit during bull or bear. Mining bitcoin have become very costly and too many things have to be considered before even trying to attempt it. From cost of electricity to cost of mining hardware. Mining rigs are now too huge this is due to competition in the market. So tx fee increasing is to the benefits of the miners.
The biggest problem with bitcoin now is the high transaction costs that can not be used to buy coffee, candy and others because the transaction costs are so high that people are lazy to make transactions using bitcoins. The best alternative is to use altcoin because the transaction cost is quite low, but if it continues like this I'm sure there will be altcoin that will be comparable even beat bitcoin in the future due to high transaction costs so this problem should be fixed soon
Higher transaction fees make them more profitable for them. This further demonstrates that market access is too costly for all transaction costs. Need to correct and adapt to the living conditions of the community. Still, things will continue to get lost in the market.
Bitcoin transaction fees can be abit on the high side, but it all depends on the exchange being used, the movement of BTC from wallet to wallet requires mining which means mining or transaction fees for the miners, so it is inevitable not to have tx fees.
I think etherum transactions fee is somehow bad than btc transactions fee. If their is poor network etherum will be deducted from your asset and fail in transaction this not suppose to be done
The only people who are currently benefiting from bitcoin transactions now are the miners, the transaction fees are insane,,
so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Because things are never that simple, the reason the fee in other coins is cheaper is because no one is using them, just a few weeks ago I made a transaction and the fee was very cheap because the mempool was empty now that the price of bitcoin is going up is likely the fees have increased, but something you can do to reduce the fees is to use a segwit address.so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
The only people who are currently benefiting from bitcoin transactions now are the miners, the transaction fees are insane,,
so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Because things are never that simple, the reason the fee in other coins is cheaper is because no one is using them, just a few weeks ago I made a transaction and the fee was very cheap because the mempool was empty now that the price of bitcoin is going up is likely the fees have increased, but something you can do to reduce the fees is to use a segwit address.so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Try to find an exchange with lowest transaction fee. There are exchange that has a fixed transaction rate even you withdraw or transfer big amount of bitcoin. And avoid doing multiple transaction if you want to save transaction fee.
The only people who are currently benefiting from bitcoin transactions now are the miners, the transaction fees are insane,,
so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Because things are never that simple, the reason the fee in other coins is cheaper is because no one is using them, just a few weeks ago I made a transaction and the fee was very cheap because the mempool was empty now that the price of bitcoin is going up is likely the fees have increased, but something you can do to reduce the fees is to use a segwit address. so many businesses which use to depend on bitcoin have close down because tx fee is eating all profits and putting people at loss..
i usually do paxful an purse stuff buying giftcards and shopping for people in exchange for btc. it usually works just fine but not with the current tx chargers
am also a merchant who buys and sell locally in my country ,,, same thing tx chargers has moved me outa business
i usually shop for people buying them all kinds of stuff but now due tx chargers i charge very hing and no one is willing to deal with again
,
,
,
and the list continues..
my question is why can't merchant website accept at least one other crypto for people to make their choice. there are other coins out there with very small tx chargers which suits everyone example bcc ltc ,,, if merchant start accepting alts then everyone will start accepting too,, i only deal in bitcoins because that is what everyone around me is willing to accept,,
why do we keep suffering from problems who's solutions are already there??..
Having too many transactions will cost you a lot of money. You can also opt for low cost transactions like Binance and Kucoin for business purposes to reduce transaction costs because these exchanges have very low fees.
Transaction fees are huge if you have no way to reduce this amount, it will greatly affect the profits you make when trading. We need to thoroughly investigate the floor or the community consulting to reduce the cost of errands should not have.
Transaction fees are huge if you have no way to reduce this amount, it will greatly affect the profits you make when trading. We need to thoroughly investigate the floor or the community consulting to reduce the cost of errands should not have.
Restricting too many transactions will cost you a lot of money. You can also opt for low-cost exchanges such as Binance and Kucoin for trading purposes to reduce transaction costs because these exchanges have very low fees. The transaction fee is huge if you do not have a way to reduce this amount, it will greatly affect the profit you make when trading.
What do you mean opt on low-cost exchanges? The OP is a merchant, not a trader.
Moreover, the OP posted this at the time the network fees are too high. I'd think he/she's back on business.
As for the future, I believe that the core team is still trying to work on scaling using the lightning network.
Let's just wait on the result, either they push it or transferring to another plan.
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