Blockchain transaction fee just got doubled

DarkStar_

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Quote from: mobnepal on December 24, 2015, 05:00:12 AM

Did anybody noticed blockchain now charge 20000 satoshi instead of 10000 for transaction done as quick send.
Is this necessary before block halving ?

Blockchain's quick send automatically picks the fee based on the size of your transaction.
Use custom, so you only have to pay the 10k sats.

sakinaka

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It's still very very low compared to other payment methods. Anyway you can set your custom fee still.

coinzat

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Quote from: Omikifuse on December 26, 2015, 05:21:15 PM

I have a transaction with high priority and 0.0001 fee that is stuck for some time, I think the doubled fee is a serious thing now

Nowadays, if you are in a hurry and you want your transaction to get confirmed quickly, you have to pay high fees.
For me, I'm OK with waiting for an hour to get confirmed with paying the normal fees

Omikifuse

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I have a transaction with high priority and 0.0001 fee that is stuck for some time, I think the doubled fee is a serious thing now

Outlander

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Quote from: elite3000 on December 25, 2015, 06:49:20 PM

Just go to 'personalized' and do the transaction and use the old 0.0001 fee/kb. Your transactions won't be delayed

Yes, we can do it if you are sure the tx priority is higher than standard. Then you should have no problem to get the tx confirmed in the next few blocks.

elite3000

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Just go to 'personalized' and do the transaction and use the old 0.0001 fee/kb. Your transactions won't be delayed

gentlemand

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Welt Am Draht

I'm usually pretty stingy with my Mycelium fees but I'm never in any hurry anyway. I've never had any type of delay. I guess the blockchain likes me.

redsn0w

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Right now, the estimate fee :

- 0.00044332 BTC 1 block
- 0.00022647 BTC 2 blocks
- 0.00012528 BTC 6 blocks
- 0.00010451 BTC 12 blocks
- 0.00007068 BTC 25 blocks

ThunderThomas

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Quote from: worhiper_-_ on December 25, 2015, 08:42:42 AM

Welp, that's what happens when the blockchain gets stressed with many transactions per second. Sadly bitcoin can not handle large volumes of transactions but what we're seeing now is the fee market in action handling that issue effectively. It times of stress spammers are charged more and more as they push things.

An incraese is never good, but if we can hold of spammers this, then sure no problem with an extra fee. Remember it's just 4 cent extra.
That's nothing compared to the fact we hold of spammers or a bigger part of spam transactions.

worhiper_-_

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Welp, that's what happens when the blockchain gets stressed with many transactions per second. Sadly bitcoin can not handle large volumes of transactions but what we're seeing now is the fee market in action handling that issue effectively. It times of stress spammers are charged more and more as they push things.

lumeire

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Quote from: teddy5145 on December 25, 2015, 08:29:21 AM

Quote from: coinzat on December 24, 2015, 03:15:00 PM

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

Well that sucks Sad

But i think when our transactions isn't that important we can just use as little fee as possible an wait patiently for it to arrive Roll Eyes

Unless we're dealing with micro-transactions I don't see anything wrong with having to double the fees to speed up the sending. Although, the network should deal with this transactions/second issue asap.

teddy5145

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Quote from: coinzat on December 24, 2015, 03:15:00 PM

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

Well that sucks Sad

But i think when our transactions isn't that important we can just use as little fee as possible an wait patiently for it to arrive Roll Eyes

roadbits

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Quote from: coinzat on December 24, 2015, 03:15:00 PM

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

Off-course miners also want to utilize these demand increase for bitcoins so pay more fee than your transaction confirms faster. But still some people are saying that transactions done with old fee without any delay in there transaction. I use XAPO for my daily transactions so I don't this is an issue for me because there no transaction fee in XAPO online wallet. I just keep less than 1BTC in XAPO account for my regular transaction and rest of them in other wallets.

tn211

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Blockchain is a free site with so much spend on security usability etc. How can such a transaction fee not be fair?
Did you know much exchanges charge double transactions fees?

Mikestang

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It's not just blockchain, I use bitcoin core for my wallet and fees have gone up dramatically with each new version. I send the same amount to my investment account periodically and the tx fee for that has increased 10x since earlier this year. This biggest jump came from the "stress test"/low tx fee spam attack a while back.

coinzat

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Young but I'm not that bold

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

erikalui

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I just sent BTC from my Blockchain wallet and the fee is 0.0001 BTC as before. How were others charged 0.0002? I received transactions also and the fee was the same as before. You can adjust the fee also I guess in Blockchain else Xapo is the best.

ranochigo

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Quote from: helloeverybody on December 24, 2015, 08:34:20 AM

Quote from: Amph on December 24, 2015, 07:46:11 AM

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

Any idea what myceliums different fees are? i use default which i assumed was 10k but it doesnt actually say.

Mycelium has a variable fee which is adjusted using the data from the mempool. It has low priority, economic, normal, priority. The higher you go, the more fees you have to pay. The amount of fees will only show when the amount is specified. Only then will the client be able to know how big your transaction would be.

Edit: I usually use normal and it confirms fine.

*Note: Mycelium or any other application are usually unable to accurately give the transaction fee to use since miners can specify which transactions to include or exclude.

helloeverybody

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Quote from: Amph on December 24, 2015, 07:46:11 AM

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

Any idea what myceliums different fees are? i use default which i assumed was 10k but it doesnt actually say.

Amph

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Quote from: ranochigo on December 24, 2015, 08:00:27 AM

Quote from: Amph on December 24, 2015, 07:46:11 AM

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

It depends on the transaction size. Large transaction size would require a higher fee. Large amount does not equate to the need of an increased fee. You can even send some without fee. 1k satoshi wouldn't really work with the current volume and most nodes have their minimum relay fee set to 0.00005BTC/kb and it won't proporgate well.

i'm actually using 1k satoshi since many days already, i've just sent some small transaction(0.01-0.05) using this kind of fee, and all went good no big delay

Topic: Blockchain transaction fee just got doubled (Read 1698 times)