Topic: BTC fees exploding and BTC will crash down - page 5. (Read 3019 times)
year back it was in cents, now fees has gone to dollars range. 18 dollars is insane
Btc High transaction fees really sucks but I dont think we can control this and I think it would be hard for ypu to convince people to sell btc and hold other altcoins instead to make transaction fees low since people are holding btc due to rapid increase.
I sent 0.029 and paid 0.0041 BTC. If that is a small amount, then bitcoin is not ready to be integrated to shops or as official currency. Then it is only for investors.
This is insane. You paid almost $18 as the fee. But I have a suggestion. If you are ready to wait for 5-6 hours, then use Blockchain.info and calculate the transaction fee using the "low priority" option. Instead of BTC0.0041, you may need to pay around BTC0.001 (which is still quite high).
Fees is going higher and it is deliberately done by the miners.Transactions are remaining unconfirmed for more time either because the miners need more fee or many miners have started mining BCC.We could hope that these issues get solved once segwit 2x is activated in november.Bitcoin is now suffering in a critical situation ,first BU,then now BCC.Its not good for the reputation of bitcoin.Regarding high transaction fee,long term investors would not consider it as an issue.
I sent 0.029 and paid 0.0041 BTC. If that is a small amount, then bitcoin is not ready to be integrated to shops or as official currency. Then it is only for investors.
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
.Well, maybe, but altcoins may not be necessary. Sidechains essentially are altcoins, but they can interact with the BTC mainchain. The Lightning Network may also make altcoins obsolete from "cheap fees" perspective. The thing is, no altcoin has solved that essential problem: how do you provide cheap fees at scale and retain decentralization?
The fees are a problem to traders, and those who want to make payments with bitcoin.
When you are a long term investor, the fees will disturbe you not that much.
I suppose that much of the money that is in bitcoin right now is brought by long term investors.
So I do not see a crash or anything like that coming due to the fees in the near future.
But a solution must be found, because the situation right now (and the discussion that comes along with it) brings a lot of uncertainty.
And uncertainty is something long term investors do not like.
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
.Well, maybe, but altcoins may not be necessary. Sidechains essentially are altcoins, but they can interact with the BTC mainchain. The Lightning Network may also make altcoins obsolete from "cheap fees" perspective. The thing is, no altcoin has solved that essential problem: how do you provide cheap fees at scale and retain decentralization?
Fees doesn't matter you are holding a online currency or asset who's price is almost 4300$ and you are sad because the fees is what 5$. I'm not aware of how many bitcoins you are holding but the way you are exaggerating it seems you have some 0.01 or even low. If you want you can sell just for fees but in long run fees will be nothing
Fees will matter in the long run because if this problem doesnt get solved soon, Bitcoin will lose many of it's users just because sending money through btc is too pricey and many use it to send money online with cheap fees and convenience, but I wouldnt call a 5$ fee a cheap one and convenient if I were going to send a small amount of money so this must be fixed soon I hope. Fees right now IMO is reasonable for large transactions but not for small ones.
Fees doesn't matter you are holding a online currency or asset who's price is almost 4300$ and you are sad because the fees is what 5$. I'm not aware of how many bitcoins you are holding but the way you are exaggerating it seems you have some 0.01 or even low. If you want you can sell just for fees but in long run fees will be nothing
The fee of bitcoin is not exploding but only the fiat value of it in USD because of the price spike of exchange rate of bitcoin, the price of the fees are up too so if you really observe the fees then you can say that it is a normal phenomenon in bitcoin because of the growth of its community so the network got loaded up too so it needs more fees for the miners to work more.
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
. The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
That's doesn't sound right that can't be.
It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.
That's doesn't sound right that can't be.
And it isn't. I don't know where he's taking these numbers from but at the moment a fee of 0.001 BTC per transaction will get it confirmed in the first block.
This is $4 at current prices not $30, please do the math before you start with this FUD again.
See for yourself then, even in average priority, 12 Blocks, it's 0.0058
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
That's doesn't sound right that can't be.
It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.
That's doesn't sound right that can't be.
And it isn't. I don't know where he's taking these numbers from but at the moment a fee of 0.001 BTC per transaction will get it confirmed in the first block.
This is $4 at current prices not $30, please do the math before you start with this FUD again.
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.
That's doesn't sound right that can't be.
It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.
That's doesn't sound right that can't be.
It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.
bitcoin sending fee down
i think not big effect about bitcoin price, but if bitcoin problem about sending not sending fee, bitcoin price can crash and down price
i think not big effect about bitcoin price, but if bitcoin problem about sending not sending fee, bitcoin price can crash and down price
Yeah, fees are getting out of hand. I think this might be the downfall of BTC - if fees keep rising and transactions get slower.
I agree, Colorado boy. You can't send dust anymore, and using faucets is even more of a waste of time, because I do believe it adds to your inputs, which then raises the fees when you go to send money. Faucets are a colossal waste of time anyway, but some are fun. Can't beat free money.And the confirmation times, ugh. I'm not going to call OP an idiot for wanting to hold altcoins, because some of them are good and the fees certainly beat bitcoin's. But I don't think bitcoin's going to crash soon.
Amen. I used to have a "dustbin" wallet on coinbase, I would send a super low fee and point all my dust at that one wallet, for the sake of organization. that is a fools errand nowadays, either you will perish waiting for it to confirm, or a decent fee will eat you alive
the fees have everything and nothing to do with the price, OP. Higher prices of course mean higher fees, thats how this works lol, the fees are denominated in BTC. But rising fees will never make the coin crash, so to speak, it will just make the network volume go down. people are quickly figuring out that bitcoin, at the moment, isnt the best choice for "small, casual transactions". in fact, unless you are transferring more than 100 USD worth of value, you should probably consider using a different medium of exchange than bitcoin. there are actually cheaper, faster alternatives. Hell, a money order through the mail, comparatively, is a better option, given that it is at least reversible
The fees matter more to the people sending small amounts of Bitcoin, as a fee could be a decent chunk of the total send. Bitcoin will have more people spending small amounts in the future. The faucets are something that might just be phased out if they continue as they are giving away much less than a transaction fee is nearly useless.
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
No, others won't follow you because others don't care about the fees, they care about the price. 
Aren't the fees actually lower right now than they were 2 or 3 months ago? I remember it was crazy back then. The price has grew by at least $500 and the fees went down. It's actually great if you look at the big picture. Stop whining and sell already, but don't say I haven't warned you. BTC is going up in the long run and it's going to go up by so much that you'll have so much money you won't care how high the fees are.
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