Topic: Blockchain is charging high fees - $0.25 for sending 1 Bitcoin transfer (Read 6234 times)
November 05, 2016, 03:30:08 PM
Now the price has been increased more higher as a few days ago when I was sending less than a half bitcoin to my exchange then I noticed that blockchain has charged an amount of 0.001 BTC for that transaction.
October 26, 2016, 12:07:03 AM
Actually, such high fees can happen... Remember: the fee is calculated based on the size of the transaction (in bytes).
If this user created a transaction using hundreds of inputs, the fee can become really big...
The only way of knowing what really happened is if we get to see the transaction id.
Well i got it and also the highest fee you provide the fastest confirmation you get, right?If this user created a transaction using hundreds of inputs, the fee can become really big...
The only way of knowing what really happened is if we get to see the transaction id.
The alternative for sending little amount i think we should use a free service like coinbase or xapo to get zero fee aka free.
Allmost right, it's up to the miners to pick the transactions they want to include into blocks... Maybe some miners still reserve some space for 0 fee high priority transactions, who knows
Usually tough, the miners will pick the transactions that included the most fee per byte of transaction data
If i need fast confirmations, i do the following thing:
1) estimate the size of the transaction based on the number of inputs and outputs
2) multiply this size in bytes by the number i find on this website: https://bitcoinfees.21.co/
3) round up
60 satoshi's per byte, at time of writing, would have you waiting between 0 and 50 minutes on average.
80 satoshi's per byte has a big chance of getting in the very next block
BUT, you can go as low as 11 satoshi's per byte and still have a reasonable chance of getting a confirmation within 6 hours...
Thank you for your clear and helpful explanation, i have checked the website that you mentioned above and they said that the fastest and cheapest transaction fee is currently 100 satoshis/byte it means 10,000 Sathosis or around $ 0.07.1) estimate the size of the transaction based on the number of inputs and outputs
2) multiply this size in bytes by the number i find on this website: https://bitcoinfees.21.co/
3) round up
60 satoshi's per byte, at time of writing, would have you waiting between 0 and 50 minutes on average.
80 satoshi's per byte has a big chance of getting in the very next block
BUT, you can go as low as 11 satoshi's per byte and still have a reasonable chance of getting a confirmation within 6 hours...
It's possible... A lot of transactions are about 250 bytes, so times 100 equals 25.000 satoshi's =~ 0.16usd (at current preev rate).
Do note tough that this is the fee you should add if you want a big chance of getting your transaction into the very next block, you can pay a lot less if you don't mind waiting a couple of hours...
October 25, 2016, 12:53:14 AM
Here are similar transactions from "July 19 @ 11:46 AM":
Value when Sent
:
$270.09 (0.4BTC)
Transaction Fee
:
0.00263758 BTC
I have not used any advanced transaction fee.
and October 20 @ 11:06 AM:
Value when Sent
:
$245.05(0.39BTC)
Transaction Fee
:
0.0101365 BTC
and here is an explanation:
This is an oversized bitcoin transaction!
Your wallet needs to consolidate many smaller payments you've received in the past. This requires a relatively high fee in order to be confirmed quickly.
Value when Sent
:
$270.09 (0.4BTC)
Transaction Fee
:
0.00263758 BTC
I have not used any advanced transaction fee.
and October 20 @ 11:06 AM:
Value when Sent
:
$245.05(0.39BTC)
Transaction Fee
:
0.0101365 BTC
and here is an explanation:
This is an oversized bitcoin transaction!
Your wallet needs to consolidate many smaller payments you've received in the past. This requires a relatively high fee in order to be confirmed quickly.
October 25, 2016, 12:27:28 AM
Actually, such high fees can happen... Remember: the fee is calculated based on the size of the transaction (in bytes).
If this user created a transaction using hundreds of inputs, the fee can become really big...
The only way of knowing what really happened is if we get to see the transaction id.
Well i got it and also the highest fee you provide the fastest confirmation you get, right?If this user created a transaction using hundreds of inputs, the fee can become really big...
The only way of knowing what really happened is if we get to see the transaction id.
The alternative for sending little amount i think we should use a free service like coinbase or xapo to get zero fee aka free.
If i need fast confirmations, i do the following thing:
1) estimate the size of the transaction based on the number of inputs and outputs
2) multiply this size in bytes by the number i find on this website: https://bitcoinfees.21.co/
3) round up
60 satoshi's per byte, at time of writing, would have you waiting between 0 and 50 minutes on average.
80 satoshi's per byte has a big chance of getting in the very next block
BUT, you can go as low as 11 satoshi's per byte and still have a reasonable chance of getting a confirmation within 6 hours...
Thank you for your clear and helpful explanation, i have checked the website that you mentioned above and they said that the fastest and cheapest transaction fee is currently 100 satoshis/byte it means 10,000 Sathosis or around $ 0.07. 1) estimate the size of the transaction based on the number of inputs and outputs
2) multiply this size in bytes by the number i find on this website: https://bitcoinfees.21.co/
3) round up
60 satoshi's per byte, at time of writing, would have you waiting between 0 and 50 minutes on average.
80 satoshi's per byte has a big chance of getting in the very next block
BUT, you can go as low as 11 satoshi's per byte and still have a reasonable chance of getting a confirmation within 6 hours...
October 24, 2016, 03:11:23 PM
I leave blockchain, he charges me fee 0.013btc on 0.38BTC transaction. Seems too much for this amount
Welcome, Coinbase.
iam suprissed it's too high I thought we could adjust the transaction fee even zero fee but of course the recommendation fee we should used it. Untill now i still used blockchain for storing spendable amount, i actually want use coinbase, but i am so scare because there so many cases out there about locked about or being frozen.Welcome, Coinbase.
If this user created a transaction using hundreds of inputs, the fee can become really big...
The only way of knowing what really happened is if we get to see the transaction id.
Can someone tell me what is the default fee for blockchain sending bitcoin? I use electrum where default fee is usually 6 cents to 25 cents but mostly its 6-8 cents. Does blockchain offer option for no fee? But doing this is bad since transaction can take very long right and not worth it?
as far as i know the fastest and cheapest transaction fee is currently 60 satoshis/byte, correct me if iam wrong.If i need fast confirmations, i do the following thing:
1) estimate the size of the transaction based on the number of inputs and outputs
2) multiply this size in bytes by the number i find on this website: https://bitcoinfees.21.co/
3) round up
60 satoshi's per byte, at time of writing, would have you waiting between 0 and 50 minutes on average.
80 satoshi's per byte has a big chance of getting in the very next block
BUT, you can go as low as 11 satoshi's per byte and still have a reasonable chance of getting a confirmation within 6 hours...
October 24, 2016, 10:36:07 AM
I leave blockchain, he charges me fee 0.013btc on 0.38BTC transaction. Seems too much for this amount
Welcome, Coinbase.
iam suprissed it's too high I thought we could adjust the transaction fee even zero fee but of course the recommendation fee we should used it. Untill now i still used blockchain for storing spendable amount, i actually want use coinbase, but i am so scare because there so many cases out there about locked account or being frozen.Welcome, Coinbase.
Can someone tell me what is the default fee for blockchain sending bitcoin? I use electrum where default fee is usually 6 cents to 25 cents but mostly its 6-8 cents. Does blockchain offer option for no fee? But doing this is bad since transaction can take very long right and not worth it?
as far as i know the fastest and cheapest transaction fee is currently 60 satoshis/byte, correct me if iam wrong. October 24, 2016, 02:37:37 AM
I leave blockchain, he charges me fee 0.013btc on 0.38BTC transaction. Seems too much for this amount
Welcome, Coinbase.
Welcome, Coinbase.
October 19, 2016, 10:49:51 AM
why use blockchain?? try Xapo or coinbas wallet.both of are tranjecstion fess are totally free.both of are safe and secure.i am using coinbas from the begening.i strongly reccomended you to used coinbas for tranjecstion fess free service.
October 15, 2016, 11:47:12 PM
Can someone tell me what is the default fee for blockchain sending bitcoin? I use electrum where default fee is usually 6 cents to 25 cents but mostly its 6-8 cents. Does blockchain offer option for no fee? But doing this is bad since transaction can take very long right and not worth it?
October 03, 2016, 12:18:30 AM
You can simply change the fees to whatever you want. You may have to wait longer to get confirmations for the transaction but you do nothave to pay a specific amount at all
September 06, 2016, 06:44:49 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
blockchain fee transfer you can self setting every send
minimum fee send is 12.5 k satoshi is very low
September 06, 2016, 02:39:29 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
This is odd, i sent 5$ few hours ago and payed 0.07$ fee. You didn't provide much information about transaction, whats tx size? Did you know that you can adjust fees when sending? Only thing you need to do is click advanced button and enter fee
The average mempool size is about 3MB. So you usually to pay higher than the recommended fees per kB.
September 02, 2016, 01:42:42 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
This is odd, i sent 5$ few hours ago and payed 0.07$ fee. You didn't provide much information about transaction, whats tx size? Did you know that you can adjust fees when sending? Only thing you need to do is click advanced button and enter fee
August 29, 2016, 02:19:46 AM
But $0.25 for $1.50 worth of bitcoin isn't reasonable, and that's the situation that is also outlined in the OP.
Don't blame the network for improperly using it. There are certain things called inputs, and outputs which determine the transaction size (among other things).Sincere apologies but ...
full node?
broadcast tx?
miners?
It's all gibberish for us.
We like to keep things simple - we pay our members in Bitcoins because many of them like to use Bitcoins ... we are not into the business of learning how to work with Bitcoins, we just use it to pay members and that's all we need. The Internet is far too full of so much information, there is no time to "learn" it all. Thanks
These two concepts are fairly simple in my opinion and are far from "learning how Bitcoin works" (in depth at least). While this advice was actually flawed, it isn't "gibberish" in itself.full node?
broadcast tx?
miners?
It's all gibberish for us.
We like to keep things simple - we pay our members in Bitcoins because many of them like to use Bitcoins ... we are not into the business of learning how to work with Bitcoins, we just use it to pay members and that's all we need. The Internet is far too full of so much information, there is no time to "learn" it all. Thanks
Also, please avoid creating unnecessary consecutive posts like this. You can quote several previous posts in one post.
August 29, 2016, 01:39:59 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Some guys misunderstanding op he said sending $1.50 worth btc Blockchain charge fees $0.25 worth btc.I don't think its normal.Most of the people not having 1000 btc and they paid $0.25 worth btc for their transaction fees.I saw some transaction fees are more than actual transferred amount of btc.this is really ridiculous That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Yes, thanks for dedicating the time to read.
We also said (in the previous page of this thread - page #3) that another member helped us with a very useful comment - we had to dig among lots of gibberish here (e.g. node, miners, txs or taxes?, wallets ZFA and other gibberish) in order to find what we were looking for. Thanks again.
August 29, 2016, 01:37:08 AM
$0.25 as a miner fee for sending $575 worth of bitcoin? That sounds reasonable to me, unless you mean something else. I've paid higher fees to send less bitcoin in the past using Android wallets. What you described doesn't sound all that high.
Where did we say we sent $575 USD worth of Bitcoins?!
August 29, 2016, 01:36:20 AM
what is up with this misleading comments. i see another one up there from a legendary member which is so much weirder! and it was explained before!
running a full node only lets you broadcast your tx with whatever fee you like (even zero/free) but miners decide to include your tx in a block or not so in fact it doesn't matter in the end.
running a full node only lets you broadcast your tx with whatever fee you like (even zero/free) but miners decide to include your tx in a block or not so in fact it doesn't matter in the end.
Sincere apologies but ...
full node?
broadcast tx?
miners?
It's all gibberish for us.
We like to keep things simple - we pay our members in Bitcoins because many of them like to use Bitcoins ... we are not into the business of learning how to work with Bitcoins, we just use it to pay members and that's all we need. The Internet is far too full of so much information, there is no time to "learn" it all. Thanks
August 29, 2016, 01:33:04 AM
Op if you are that concerned about high transaction fee of bitcoin transaction and don't mind using online wallet then why don't you switch to Xapo Wallet?
They main feature is fee-less transaction system, they will basically pay all of your fees. But you give up your privacy in return.
I imagine the same goes for Coinbase Wallet they will pay for your fee as well.
But be warned, if these services find that your coins are used in 'fraudulent' way (according to their ToS it could be gambling for example) they will freeze your account.
They main feature is fee-less transaction system, they will basically pay all of your fees. But you give up your privacy in return.
I imagine the same goes for Coinbase Wallet they will pay for your fee as well.
But be warned, if these services find that your coins are used in 'fraudulent' way (according to their ToS it could be gambling for example) they will freeze your account.
Why use wallets like Payza?!
We use Payza but keep around $1 - $10 in the balance with them simply because we don't trust them.
Blockchain is fine, just see our comment above - erikalui's suggestion is very useful and relates exactly to what we were referring to.
August 29, 2016, 01:30:41 AM
You need to go to Login to your blockchain, goto the Advance Send option and enter a Transaction Fee in the text box (in your case, you can enter 0.0001 BTC). It will show a pop up screen for you to confirm. This you can do everytime you are sending bitcoins using blockchain and decide your fee accordingly.
Your comment is very useful, thank you!
August 27, 2016, 02:23:34 PM
$0.25 as a miner fee for sending $575 worth of bitcoin? That sounds reasonable to me, unless you mean something else. I've paid higher fees to send less bitcoin in the past using Android wallets. What you described doesn't sound all that high.
But $0.25 for $1.50 worth of bitcoin isn't reasonable, and that's the situation that is also outlined in the OP. August 27, 2016, 07:37:17 AM
every send bitcoin via blockchain.info
feen send can your setting, but is fee set in very low sending until confirm very long too
feen send can your setting, but is fee set in very low sending until confirm very long too
August 27, 2016, 06:40:11 AM
Some guys misunderstanding op he said sending $1.50 worth btc Blockchain charge fees $0.25 worth btc.I don't think its normal.
Bullshit. The amount of $ transacted has nothing to do with the fee that is required to be paid.Most of the people not having 1000 btc and they paid $0.25 worth btc for their transaction fees.
No. You have no numbers to back this up, you're just posting nonsense.the fee is too high use an other wallet i think with coinbase are a little bit low
Do not use Coinbase as your wallet. This is counter-intuitive to Bitcoin.I am not familiar with this much, so could you please explain what you mean by running your own full node? If you would do this, would you not need some massive computer power or such?
No. Read this: Full node. 
August 27, 2016, 05:47:11 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Couldn't you always just run your own full node and that way you'd have full control over everything?
August 27, 2016, 05:15:09 AM
the fee is too high use an other wallet i think with coinbase are a little bit low
Most of the time a transactions sent with a wallet like coinbase will be carried out offline and therefore no fees are charged.The fee also has nothing to do with the amount of btc being sent, fees are set by the transaction size.
August 27, 2016, 05:04:44 AM
the fee is too high use an other wallet i think with coinbase are a little bit low
August 27, 2016, 04:59:03 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Some guys misunderstanding op he said sending $1.50 worth btc Blockchain charge fees $0.25 worth btc.I don't think its normal.Most of the people not having 1000 btc and they paid $0.25 worth btc for their transaction fees.I saw some transaction fees are more than actual transferred amount of btc.this is really ridiculous That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 27, 2016, 04:38:07 AM
Exactly. One motivation behind Bitcoin's invention was to do away with centralized payment service providers (banks). It's weird that so many people voluntarily choose centralized payment providers and then complain about them charging fees. Why can't these people use free wallet software, which is very easy?
There is practically no reason to opt for a web-wallet instead a SPV one. One could argue that they have 2FA, but that can be pretty useless depending on how your system is compromised.I agree with this for a huge amount of 1 BTC and just getting $0.25 for fee that is very small
Bullshit. Again, the amount of Bitcoins that are being transferred is irrelevant. The same fee could have been necessary for a $1 transaction.If you think that those fees are too high for you, then why don't you just lower the fee just like what you did before ($0.11) ?
Adding an inadequate amount as a fee for a TX will prolong its confirmation time (or could even possibly get dropped by the network eventually).
August 27, 2016, 03:47:48 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
i think this is normal change of fee of transaction . i am seeing from 2 years that fee is increasing and decreasing when the rate of bitcoins rising and falling . That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 27, 2016, 03:35:25 AM
...LN will probably be quite useful for these pocket change transactions.
Like I said:
Patience, gentlemen. Blockstream is building out an overlay network... where we can exchange Bitcoin IOU's. Artificial scarcity is the carrot and stick that will lead us to this new, revolutionary, fully decentralised, and downside-free paradigm. Join me in patiently waiting, will you?
These earth-shaking disruptive techmologies are sometimes like this... you have to form a company... capture a protocol, then monetize it. It doesn't happen overnight... patience pls.
Mind explaining how that works? Because it sounds like a bizarre conspiracy theory. LN contracts are not "IOUs" -- they are trustless. No custodians. Completion of time-lock is the only pre-requisite for pushing onchain if necessary.
If you're going to bring that r/btc trash here, at least back it up...
August 27, 2016, 03:21:16 AM
why not set your fee manually , i usually set fee for my transaction only 0.0002 BTC and never get any problem with blockchain, but risk about slow transaction is on ourself
August 27, 2016, 03:18:39 AM
If you think that those fees are too high for you, then why don't you just lower the fee just like what you did before ($0.11) ? And why don't you just let your members pay their own fees?
August 27, 2016, 02:52:53 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
yes i think so do you know how to use the advance send in blockchain because that is always do to lower the fee and the unstable price of bitcoin also make it higher or lower so next time use advance send below hope this helpsThat's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
There is need to address increase in transaction fee, If the aim of Bitcoin is a way into Darknet market there is no need to worry, but if it is to check the excesses of Federal Government they need to find a way to reduce fee, especially for we in developing countries
August 27, 2016, 02:08:09 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
yes i think so do you know how to use the advance send in blockchain because that is always do to lower the fee and the unstable price of bitcoin also make it higher or lower so next time use advance send below hope this helps That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 27, 2016, 02:04:27 AM
...LN will probably be quite useful for these pocket change transactions.
Like I said:
Patience, gentlemen. Blockstream is building out an overlay network... where we can exchange Bitcoin IOU's. Artificial scarcity is the carrot and stick that will lead us to this new, revolutionary, fully decentralised, and downside-free paradigm. Join me in patiently waiting, will you?
These earth-shaking disruptive techmologies are sometimes like this... you have to form a company... capture a protocol, then monetize it. It doesn't happen overnight... patience pls.
August 27, 2016, 02:00:51 AM
Blockchain? Are you talking about blockchain.info by any chance? Most other wallets don't "charge" fees. You can manually set your own fees.
I think OP is talking about blockchain.info. I know it because I had sent bitcoin about a week ago, and I couldn't set the fee.
probably blockchain changed the setting or like the other said, we can set how much fee we would like to give on settings.
August 27, 2016, 01:53:15 AM
Run your own node and send it for free...
How much does it cost to run your own node and how do you go about doing that?
Depends on your situation. If you have a throwaway computer and some spare bandwidth, for instance, it will cost you precisely nothing. However, I don't recommend pushing transactions without fees. It could take days to get a confirmation, and it might just be dropped entirely from the network.
The fact is, reward subsidy is dropping fast, and is really all that is incentivizing miners to secure the network. Fees need to rise a lot in the future to replace the reward subsidy. Get used to it IMO. In the future, LN will probably be quite useful for these pocket change transactions.
August 27, 2016, 01:39:24 AM
Run your own node and send it for free...
How much does it cost to run your own node and how do you go about doing that?
August 27, 2016, 12:28:00 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
I do not know if your wallet has a lot of transactions thus making the increased transaction costs when you want to send bitcoin but in my opinion by see the current price of bitcoin,that's fee transaction is not much.That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 26, 2016, 11:49:17 PM
I am 99% sure that you can change your fee payment in the wallet and change it so it isn't sending large amounts. You can go and check it for yourself, but I am nearly certain that they already have systems set up for this so that you are able to control what you pay. Then again though that means that there would be some effort involved and you'd actually have to go and look for something, so that might be a bit of a turn-off.
August 26, 2016, 11:33:59 PM
At least it's not $1.9 for a $20 deal just like paypal charged me.
I think bitcoin fees in block chain even still low.
I agree, anyway , run your own node and sent money free lolI think bitcoin fees in block chain even still low.
what is up with this misleading comments. i see another one up there from a legendary member which is so much weirder! and it was explained before!
running a full node only lets you broadcast your tx with whatever fee you like (even zero/free) but miners decide to include your tx in a block or not so in fact it doesn't matter in the end.
August 26, 2016, 11:11:03 PM
Patience, gentlemen. Blockstream is building out an overlay network... where we can exchange Bitcoin IOU's. Artificial scarcity is the carrot and stick that will lead us to this new, revolutionary, fully decentralised, and downside-free paradigm. Join me in patiently waiting, will you?
August 26, 2016, 04:49:35 PM
Op if you are that concerned about high transaction fee of bitcoin transaction and don't mind using online wallet then why don't you switch to Xapo Wallet?
They main feature is fee-less transaction system, they will basically pay all of your fees. But you give up your privacy in return.
I imagine the same goes for Coinbase Wallet they will pay for your fee as well.
But be warned, if these services find that your coins are used in 'fraudulent' way (according to their ToS it could be gambling for example) they will freeze your account.
They main feature is fee-less transaction system, they will basically pay all of your fees. But you give up your privacy in return.
I imagine the same goes for Coinbase Wallet they will pay for your fee as well.
But be warned, if these services find that your coins are used in 'fraudulent' way (according to their ToS it could be gambling for example) they will freeze your account.
You give up privacy and control of your bitcoin as well........
August 26, 2016, 03:27:42 PM
At least it's not $1.9 for a $20 deal just like paypal charged me.
I think bitcoin fees in block chain even still low.
I agree, anyway , run your own node and sent money free lol I think bitcoin fees in block chain even still low.
August 26, 2016, 03:22:49 PM
Op if you are that concerned about high transaction fee of bitcoin transaction and don't mind using online wallet then why don't you switch to Xapo Wallet?
They main feature is fee-less transaction system, they will basically pay all of your fees. But you give up your privacy in return.
I imagine the same goes for Coinbase Wallet they will pay for your fee as well.
But be warned, if these services find that your coins are used in 'fraudulent' way (according to their ToS it could be gambling for example) they will freeze your account.
They main feature is fee-less transaction system, they will basically pay all of your fees. But you give up your privacy in return.
I imagine the same goes for Coinbase Wallet they will pay for your fee as well.
But be warned, if these services find that your coins are used in 'fraudulent' way (according to their ToS it could be gambling for example) they will freeze your account.
August 26, 2016, 03:17:52 PM
If you send the same amount using MoneyGram or Western Union you would be paying much more, so a $0.25 fee for a Bitcoin transaction is not a lot at all. I do not mind paying a little extra for my
transactions to get confirmed quickly, but when there is no urgency, I pay the minimum fee and the transactions still gets confirmed. I have had some transactions with high fees, in the days when I was
playing around with faucets... it creates dust in the account and when you want to process it, it increase the fees. You would pay the same fee for sending $10 and also for $ 1 000 000, because the
amount does not determine the size of the fee.
transactions to get confirmed quickly, but when there is no urgency, I pay the minimum fee and the transactions still gets confirmed. I have had some transactions with high fees, in the days when I was
playing around with faucets... it creates dust in the account and when you want to process it, it increase the fees. You would pay the same fee for sending $10 and also for $ 1 000 000, because the
amount does not determine the size of the fee.
August 26, 2016, 03:02:23 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
I do not know if your wallet has a lot of transactions thus making the increased transaction costs when you want to send bitcoin but in my opinion by see the current price of bitcoin,that's fee transaction is not much. That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 26, 2016, 02:24:44 PM
Yeah, I also have noticed that the fees has been increased, I think it is because of bringing advancement in their wallet, In the past the fees for me for any amount of bitcoin was only 0.0001 BTC, but recently I requested a minimum amount and there I saw that fees higher than 0.0002 .
August 26, 2016, 02:08:51 PM
You need to go to Login to your blockchain, goto the Advance Send option and enter a Transaction Fee in the text box (in your case, you can enter 0.0001 BTC). It will show a pop up screen for you to confirm. This you can do everytime you are sending bitcoins using blockchain and decide your fee accordingly.
August 26, 2016, 01:57:35 PM
I sent a small amount of bitcoin the other day and it was charging me 0.008 (32p) fee for a 0.03(£12) which is not bad but i changed the fee to 0.001 (4p) and it confirmed within an hour. so if you are not in a rush to make the payment then just use software that allows you to change the fee yourself. i would not bother paying no fee tho. i have tried a few times and it never gets confirmed.
Running your own node do's not mean you can send bitcoin for free!!! If a miner decided not to include it in a block then it aint getting sent.
Run your own node and send it for free...
Running your own node do's not mean you can send bitcoin for free!!! If a miner decided not to include it in a block then it aint getting sent.
August 26, 2016, 01:46:12 PM
If you want to use premium wallets like blockchain you have to give them good fees.
No. Blockchain.info is not a premium wallet; it's just a web wallet. Those should be generally avoided.Exactly. One motivation behind Bitcoin's invention was to do away with centralized payment service providers (banks). It's weird that so many people voluntarily choose centralized payment providers and then complain about them charging fees. Why can't these people use free wallet software, which is very easy?
(Although I must admit that the fees charged by blockchain.info are still comparatively low.)
Unfortunately especially the service of blockchain.info has greatly profited from the blockchain hype spread by bankers and uninformed journalists. Now quite a few newbies are wrongly believing that blockchain.info represents Bitcoin, which is quite a disaster.
ya.ya.yo!
August 26, 2016, 12:05:30 PM
I sent 4 bitcoin and pay only $0.08 fee. It depends on the transaction size and age of the coin. I do use my own full node.
It doesn't matter that you're using your own node though. There's still a decent amount of nodes that both receive and relay low fee transactions. This policy changes a bit in 0.13.0 as the nodes will share minrelayfee information, e.g. node A won't relay transactions to Node B which node B wouldn't relay anyways (this is a waste of bandwidth).can the confirmation be done by one node only?
No. Confirmations have nothing to do with nodes. Confirmations are related to mined blocks; nodes are used for relaying TX's and blocks.how this can do against sybil attach? i thought that there were the need of multiple node to verify the ttransaction and confirm it
No. Read this book: Bitcoin For Dummies.If you want to use premium wallets like blockchain you have to give them good fees.
No. Blockchain.info is not a premium wallet; it's just a web wallet. Those should be generally avoided. August 26, 2016, 11:59:27 AM
If you want to use premium wallets like blockchain you have to give them good fees.Because it's only the way they earning. Or else if cannot afford to give them fees like this then you should use a normal, nonstandard wallet where your btc isn't safe enough.
August 26, 2016, 11:56:14 AM
Run your own node and send it for free...
can the confirmation be done by one node only? how this can do against sybil attach? i thought that there were the need of multiple node to verify the ttransaction and confirm it
August 26, 2016, 11:54:39 AM
$0.25 as a miner fee for sending $575 worth of bitcoin? That sounds reasonable to me, unless you mean something else. I've paid higher fees to send less bitcoin in the past using Android wallets. What you described doesn't sound all that high.
I sent 4 bitcoin and pay only $0.08 fee. It depends on the transaction size and age of the coin. I do use my own full node.
August 26, 2016, 10:12:08 AM
The transaction fees are being set based on the number of input addresses (and number of transactions too) because these are the deciding factors for the size of a transaction.
when I used to do transactions with blockchain.info, fees are sometimes ridiculous, which is actually why I had to switch to Xapo for small, frequent transactions because they don't charge any tx fee.
when I used to do transactions with blockchain.info, fees are sometimes ridiculous, which is actually why I had to switch to Xapo for small, frequent transactions because they don't charge any tx fee.
August 26, 2016, 07:04:22 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
You are viewing the fee in dollars.Check them in btc and you will get better idea.Bitcoin prices change rapidly thats why you get different fee in dollars.My wallet shows my coins in my local currency and it keeps changing but it doesn't mean my stored coins are increasing or decreasing.Only their value changeThat's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 26, 2016, 06:57:19 AM
guys, please be carefull here... I've seen many people suggesting to run your own node, so you can send a transaction for free.... Altough, you CAN broadcast a 0-fee transaction to the network from your own node, it might be a bad idear to do so.
The only thing that will happen is that the 0-fee transaction is broadcasted, however, since it has 0-fee, chances are slim a miner will add it to a block, unless you're very lucky or if it's a high-priority transaction (altough most miners don't add 0-fee high priority transactions to their blocks either anymore... AFAIK, that's something that used to be done a long time ago, but most miners stopped doing this... correct me if i'm wrong)
The only thing that will happen is that the 0-fee transaction is broadcasted, however, since it has 0-fee, chances are slim a miner will add it to a block, unless you're very lucky or if it's a high-priority transaction (altough most miners don't add 0-fee high priority transactions to their blocks either anymore... AFAIK, that's something that used to be done a long time ago, but most miners stopped doing this... correct me if i'm wrong)
August 26, 2016, 06:54:17 AM
Just use a nonstandard wallet and you'll be able to make any transaction type you want- I prefer electrum for daily usage. It's disappointing that BC.I still doesn't let you manually set fees; I thought they were made for convenience. Most wallets will let you do this; I don't trust BC.I at all nowadays. Of course, you can also make a zero-fee transaction, but it'll likely never confirm and you'll just be wasting your time. Most of the time, even if you send a tiny transaction fee, it'll still confirm-just give it time.
August 26, 2016, 06:47:47 AM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
You are viewing the fee in dollars.Check them in btc and you will get better idea.Bitcoin prices change rapidly thats why you get different fee in dollars.My wallet shows my coins in my local currency and it keeps changing but it doesn't mean my stored coins are increasing or decreasing.Only their value change That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 26, 2016, 06:29:10 AM
At least it's not $1.9 for a $20 deal just like paypal charged me.
I think bitcoin fees in block chain even still low.
I think bitcoin fees in block chain even still low.
August 26, 2016, 06:22:30 AM
You can set the transaction fee to what ever you want it too be. Just need to use a client that allows you too which most if not all do nowadays.
This is requirement in order for you too be able to send them out into the blockchain.
If you don't and won't want to be bothered with that then I would suggest using a wallet that takes care of those fees for you such as one from coinbase or xapo.
This is requirement in order for you too be able to send them out into the blockchain.
If you don't and won't want to be bothered with that then I would suggest using a wallet that takes care of those fees for you such as one from coinbase or xapo.
August 26, 2016, 06:08:27 AM
$0.25 as a miner fee for sending $575 worth of bitcoin?
The amount being sent is irrelevant to the fee. The same fee could be required for $1 worth of Bitcoin depending on the transaction size.With the network congestion there's no way of avoiding those fees and provide a decent service, if you cut on fees you'll end up with huge delays in transaction confirmation or no confirmation at all.
No, there is very little network congestion primarily due to spam. You don't know how to properly use it, as in properly set up the right fees. The most likely reason for the fee to be in that range, is your transaction being in the higher Bytes regions.
It primarily comes down to the recommended satoshis/byte fee. People that are wasting time with faucets and other nonsense that constantly pays out little amounts are the ones that are to blame for the huge UTXO set. Their transactions are usually bigger that average/normal. August 26, 2016, 05:12:51 AM
It would be easier to show us the transaction ID so we can at least see what the potential reason for the (according to you) high fee is. The most likely reason for the fee to be in that range, is your transaction being in the higher Bytes regions. At least higher than average. If blockchain.info let your transaction go through with a normal fee, then you would have to wait a long time to see it getting its first confirmation. Pools in some cases ignore these transactions when no higher than average fee is added.
August 26, 2016, 05:02:50 AM
$0.25 as a miner fee for sending $575 worth of bitcoin? That sounds reasonable to me, unless you mean something else. I've paid higher fees to send less bitcoin in the past using Android wallets. What you described doesn't sound all that high.
Standard fees, I don't see the issue. It'd be a lot higher if you were sending money abroad via Western Union or with Paypal.
Bitcoin is still & will be for a long time a very cheap way to send money.
August 26, 2016, 05:00:54 AM
If you want to save money you need to change currency, litecoin or dogecoin for example, you can also force your users into off-chain transactions like Coinbase or Xapo.
With the network congestion there's no way of avoiding those fees and provide a decent service, if you cut on fees you'll end up with huge delays in transaction confirmation or no confirmation at all.
With the network congestion there's no way of avoiding those fees and provide a decent service, if you cut on fees you'll end up with huge delays in transaction confirmation or no confirmation at all.
August 25, 2016, 11:45:46 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
It is still way too low if you are conducting a large amount of money. This could also prevent the massivr amount of transaction usage that is flooding them.
August 25, 2016, 11:37:09 PM
Run your own node and send it for free...
Blockchain is blockchain.info a web wallet
fee "here" because blockchain.info doesn't charge their own fees and you do everything yourself is the amount of satoshi you pay for transaction to the miners
so even with your own node you will have to pay the same fee based on the size of his transaction (so it won't be free) even if you send with 0 fee then there will be no confirmation
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August 25, 2016, 11:33:53 PM
the fees depend on fees/byte so if your second transaction is bigger than the first it's very normal especially if you send big amount or sending to many address in one transaction,it'll increase the transaction size
just see this if you curious about the fees/byte : https://bitcoinfees.21.co/ ,by the way you can customize the fee yourself as long it meet the minimum requirement it'll be a normal transaction just like you're spending a little higher fees
just see this if you curious about the fees/byte : https://bitcoinfees.21.co/ ,by the way you can customize the fee yourself as long it meet the minimum requirement it'll be a normal transaction just like you're spending a little higher fees
August 25, 2016, 11:30:56 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Nope it's not normal for this amount. Please check your transaction fee settings and change into normal and then in mobile you can find the option to customise the transaction fee limit and you can very less amount but it need more than an hours to complete the transaction.
This may help you I think.
August 25, 2016, 11:24:05 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Absplutely that is very normal, and you can see you're made a transaction with 1 btc of the amount and you just get $0.25 and that's very small. the fee is relied with how many your amount is want for you send. That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
August 25, 2016, 11:00:41 PM
Run your own node and send it for free...
August 25, 2016, 10:59:08 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
It totally depends on whats the transaction fees or the settings you have on there. If you are running the api, I am sure you should be able to change that, or just contact their support that you want a lower fees. They won't have a problem decreasing it, but your transactions could get delayed due to it.
August 25, 2016, 10:57:53 PM
Blockchain? Are you talking about blockchain.info by any chance? Most other wallets don't "charge" fees. You can manually set your own fees.
August 25, 2016, 10:31:19 PM
$0.25 as a miner fee for sending $575 worth of bitcoin? That sounds reasonable to me, unless you mean something else. I've paid higher fees to send less bitcoin in the past using Android wallets. What you described doesn't sound all that high.
August 25, 2016, 10:18:29 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
Couldn't you always just run your own full node and that way you'd have full control over everything?
August 25, 2016, 10:16:04 PM
That is normal and your fee is decided looking at how big your transaction gonna be. You can always changes/lower that fee if you are using blockchain.info as those are just recommended fee for you to get fast confirmation but you have to remember lowering fee will delay your transaction. Another idea for you could be to send multiple payouts in a single transaction which will cost you almost same fee when you are sending one payout.
August 25, 2016, 08:07:24 PM
We were using Blockchain with our site for quite a while but this has become ridiculous - they were charging around $0.04 initially for sending 1 Bitcoin transfer but now if we paid a member $1.50 for instance (worth of Bitcoins, a minimal amount) we would see a $1.75 deduction i.e. $0.25 is in fees!
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
That's absolutely ridiculous, yesterday it was $0.11 and now it's $0.25 - they keep on raising the fees.
Is this normal?
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