Fees | Bitcointalksearch.org

Maheshkumar_Hrangkhawl

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Quote from: Qunenin on June 11, 2017, 07:48:08 AM

Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

At the store the other day I saw a little old lady complaining that the store had stopped carrying the size of blueberries that she always buys. She actually thinks that the store should alter their business to meet her singular needs and desires.

If you want a coin with a bigger block size, create one yourself. Grin

People like you are the reason why Bitcoin is going down in dominance. A few months back, Bitcoin enjoyed more than 90% of the total crypto market capitalization. It has come down to around 40% now. Your comparison with blueberries is absurd. We are only asking for a bigger block-size, due to the delay in transactions and higher fees.

jilani

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two reasons:
1.traffic
2. transaction size

arlinxoha

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Arianee:Smart-link Connecting Owners,Assets,Brands

The fees for two reasons are spread across:

1. Bitcoin network has lots of traffic that has lots of traffic.
2. For your transaction size.

soul-impact

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Activity: 854

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Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

The common bitcoin, coupled with the rapidly increasing number of transactions per day, the number of blocks present can not meet that, and to ensure the speed of each transaction, the increased charge is the traffic charge. . This is causing a lot of frustration among users, and they are asking for bigger blocks, however, Core has refused this, and it is still controversial.

anheqiaobei

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The current confirmation is fast（As long as there is no spam attack）

White Christmas

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Ucy on June 09, 2017, 06:45:58 AM

My transaction yesterday on Blockchain.info was relatively quick with moderate fee. I stopped using Wallets for a month due to the worst experience I had with Blockchain. Just decided to do little transfer yesterday and it went through under 12hrs.

I think that is because of some problems in the transaction right now. If you want a fast and quick transaction then you should pay high fee but if not youll pay low fee but you need to wait for a long time.

Yutikas_11920

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Quote from: ArticMine on June 09, 2017, 11:02:04 AM

Quote from: dothebeats on June 09, 2017, 10:51:02 AM

...

Blame politics, greed and assuming control for that. Increasing the blocksize limit has been debated for 2 freaking years now. Back then, people are telling that "it's not necessary" since "we haven't achieved the same number of tx/s like Visa" handles. We are far from that, yes, but to think that we already need to pay a few dollars to get a few dollars going is nuts, let alone opposing the key reason why people should use bitcoin over bank machines and whatnot.

The blocksize debate actually goes back all the way to 2010. Furthermore the problem may actually not have a solution since with a falling block reward fees will eventually have to be used to provide an incentive to the miners to secure the proof of work.

Indeed it is today there is still no solution the best in issue blocks or fee. Because it is the owner or creator of the bitcoin also still do not provide credentials, so that there is the possibility of this problem could be solved if the creators want to disclose so himself and then finding solutions globally. All of which isn't really a problem when we use the bitcoin for investment, as with all investments will be much better

Kprawn

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Quote from: 25hashcoin on June 09, 2017, 10:58:46 AM

Quote from: Kprawn on June 09, 2017, 10:04:39 AM

You and I know Block size upgrades alone are not the ideal way to scale aggressively.

Satoshi disagreed.

Satoshi was not perfect and if you speak to the developers that worked on the Bitcoin code after Satoshi left, they would have told you that his

coding was sloppy and messy. Yes, Satoshi though about almost everything, but the scaling for mainstream adoption was flawed. If you simply

increase the Block size, you would not scale to the volume of tx's that are being done by competitors like VISA & MasterCard & PayPal. Sad

With much bigger Block sizes comes additional risks too. Angry

Qunenin

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Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

At the store the other day I saw a little old lady complaining that the store had stopped carrying the size of blueberries that she always buys. She actually thinks that the store should alter their business to meet her singular needs and desires.

If you want a coin with a bigger block size, create one yourself. Grin

taxmanmt5

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Activity: 1190

Merit: 1024

Why precisely would we alter the internal components that make Bitcoin what it is. There are always some little children out there that have the inability to accept things as they are and want the world to alter itself to meet their specifications. They will whine and cry and pound their fists and kick their feet because they believe it is the world's job to cater to them and not their job to work within the parameters that are there.

classicsucks

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Core seems more and more distant these days. They can't force Segwit and UASF is garbage. The devs barely even post in the forum anymore.

On a positive note, whoever was spamming the mempool seems to have let up:

https://blockchain.info/charts/mempool-size?timespan=60days

Fees won't go down, but at least confirmation times should be faster!

BtcKing 1

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Quote from: richsoon on June 09, 2017, 11:03:55 AM

Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

In short bitcoin got too popular so prices went up in fiat and fees also went up in satoshis/byte. The long version is the community cannot agree on how to move beyond this congestion.

so the fees will keep increasing ? we will see in the future fees like 0.1/0.2... ? wow ! isn't this the thing that makes bitcoin different from other payment systems ? low fees right ?

Gens09

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I guess it is just a normal issues everywhere because the bitcoin demand is increasing because of the increasing bitoin users all over the world and then the bitcoin price will increase and normally the bitcoin fee will also increase in all wallet and every transactions you made i guess it is just a normal thing.

richsoon

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Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

In short bitcoin got too popular so prices went up in fiat and fees also went up in satoshis/byte. The long version is the community cannot agree on how to move beyond this congestion.

ArticMine

legendary

Activity: 2282

Merit: 1050

Monero Core Team

Quote from: dothebeats on June 09, 2017, 10:51:02 AM

...

Blame politics, greed and assuming control for that. Increasing the blocksize limit has been debated for 2 freaking years now. Back then, people are telling that "it's not necessary" since "we haven't achieved the same number of tx/s like Visa" handles. We are far from that, yes, but to think that we already need to pay a few dollars to get a few dollars going is nuts, let alone opposing the key reason why people should use bitcoin over bank machines and whatnot.

The blocksize debate actually goes back all the way to 2010. Furthermore the problem may actually not have a solution since with a falling block reward fees will eventually have to be used to provide an incentive to the miners to secure the proof of work.

25hashcoin

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Activity: 574

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Quote from: Kprawn on June 09, 2017, 10:04:39 AM

You and I know Block size upgrades alone are not the ideal way to scale aggressively.

Satoshi disagreed.

25hashcoin

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Activity: 574

Merit: 500

Core is actively trying to damage bitcoin. Support a fork away to big blocks.

ArticMine

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Activity: 2282

Merit: 1050

Monero Core Team

Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

A growing demand for Bitcoin transactions and a fixed inelastic supply governed by a fixed 1 MB blocksize limit that is hard coded into the protocol.

dothebeats

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Cashback 15%

Quote from: Oznog on June 09, 2017, 07:08:52 AM

Quote from: OmegaStarScream on June 09, 2017, 06:27:05 AM

2. The bitcoin network is having a lot of traffic (many transactions - could be a spam attack as well)

Meec. Error.

Five transactions per second are not "a lot of transactions" for the current Bitcoin network.

Affirming this is a joke.
Anyone who knows a little of computers, hardware and software knows that the current problem is not bandwidth, spam/DDoS attacks or storage space.

The only fucking problem is two lines of code.
The arbitrary, deliberate and corrupt 1MB block limit.

Bitcoin is in high danger.
We are approaching the irreversible point.

Blame politics, greed and assuming control for that. Increasing the blocksize limit has been debated for 2 freaking years now. Back then, people are telling that "it's not necessary" since "we haven't achieved the same number of tx/s like Visa" handles. We are far from that, yes, but to think that we already need to pay a few dollars to get a few dollars going is nuts, let alone opposing the key reason why people should use bitcoin over bank machines and whatnot.

lecongnhan123

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Activity: 288

Merit: 250

Quote from: BtcKing 1 on June 09, 2017, 05:39:26 AM

I wanna know something here why fees are increasing everywhere ? what happened ? O.o Huh

I think it's because of 2 reasons:
- the transaction size
- the big traffic to blockchain

Topic: Fees (Read 1066 times)