Fees are sky high | Bitcointalksearch.org

btc78

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Quote from: HOT_HEAD on February 05, 2021, 02:29:17 PM

I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?

any Update on how much have you purchase from that 35$? I bought BCH also back in February and the Fee almost the same of what i need to purchase lol.

But since i have no choice so i go on and luckily that the coins i bought is for my gambling activity.

And i made it 5 folds from the amount i purchased so the fee does not really affect my day .

RealMalatesta

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Quote from: Argoo on March 26, 2021, 11:43:15 AM

The current ethereum price is indeed comparatively very low. Compared to the price of Bitcoin, ethereum should now have a price of over $ 5,000. The reason for this condition is the high level of gas for transactions in this network. Some campaigns, including AMEPAY, are still hesitant to pay out part of their tokens to bounty company participants because of this. However, this is a temporary problem and, as Buterin assured, this problem should disappear in July. So, if possible, we should give up making small transactions on the ethereum network for now.

I think with July update it is going to go down, that is what I am expecting ethereum to do next, drop the fee to low levels and have a high price instead. That is going to be great, it would help miners because even though they are charging less ETH it is still a lot of ETH that they are mining so the price of ETH being high would help them, and it would help anyone who holds ethereum, and who deals with ethereum and people who want to move it around would have easier time as well.

It is just a logical method, it is not going to hurt anyone and it would definitely help anyone. So fee under 5 bucks and price over 5k will be the only way to go for ethereum to survive. I think it was basically 10x compared to last year so that is not bad, but it could definitely get bigger, could go towards 3k easily with this kind of change if the fee is dropped.

Argoo

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Quote from: molsewid on March 26, 2021, 10:45:37 AM

Quote from: Alohadanc3 on March 20, 2021, 09:06:29 AM

Yeah for last few months ethereum gas fees was just sky rocketing. And day by day it's also increasing. For defi and nft many transactions are happening on the chain. And ethereum price is also hike. I think there is nothing to do but wait for the ethereum 2.0 to come to this space. Tillbthen we have to pay this kind of high fees. Hope ethereum 2.0 will come as soon as possible.

It seems that the price of Ethereum was the one that should sky rocketting and is a must thing to grow high but this happened oppositely. So yep, up until now the main concern of ethereum investors and traders was its transaction fees that was totally too high enough that you may second thought if you were going to made any transactions or not, if not really needed i bet that none of them would take risks to make any transactions. Hoping that Ethereum 2.0 can make it's transaction fee lower than the today.

The current ethereum price is indeed comparatively very low. Compared to the price of Bitcoin, ethereum should now have a price of over $ 5,000. The reason for this condition is the high level of gas for transactions in this network. Some campaigns, including AMEPAY, are still hesitant to pay out part of their tokens to bounty company participants because of this. However, this is a temporary problem and, as Buterin assured, this problem should disappear in July. So, if possible, we should give up making small transactions on the ethereum network for now.

molsewid

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Quote from: Alohadanc3 on March 20, 2021, 09:06:29 AM

Yeah for last few months ethereum gas fees was just sky rocketing. And day by day it's also increasing. For defi and nft many transactions are happening on the chain. And ethereum price is also hike. I think there is nothing to do but wait for the ethereum 2.0 to come to this space. Tillbthen we have to pay this kind of high fees. Hope ethereum 2.0 will come as soon as possible.

It seems that the price of Ethereum was the one that should sky rocketting and is a must thing to grow high but this happened oppositely. So yep, up until now the main concern of ethereum investors and traders was its transaction fees that was totally too high enough that you may second thought if you were going to made any transactions or not, if not really needed i bet that none of them would take risks to make any transactions. Hoping that Ethereum 2.0 can make it's transaction fee lower than the today.

criket

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Quote from: Alohadanc3 on March 20, 2021, 09:06:29 AM

Yeah for last few months ethereum gas fees was just sky rocketing. And day by day it's also increasing. For defi and nft many transactions are happening on the chain. And ethereum price is also hike. I think there is nothing to do but wait for the ethereum 2.0 to come to this space. Tillbthen we have to pay this kind of high fees. Hope ethereum 2.0 will come as soon as possible.

the increase in transaction costs has occurred in the last year. maybe it is not as expensive as it is today but the increase has been happening for a long time and until now we will still see the solution in July.
too slow indeed, but we can't think that this handling can be done quickly. everyone's shouting and the developers always say the same thing.
finally, many projects decide to switch chains to keep their market.

max6575

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i have my business as selling bot for customers whom work with the binary option and selling bot to accept payment with the bitcoin that is one of the condition as referring uses with the least on buyer as might they feel boredom on high fees with the transaction.

Alohadanc3

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Yeah for last few months ethereum gas fees was just sky rocketing. And day by day it's also increasing. For defi and nft many transactions are happening on the chain. And ethereum price is also hike. I think there is nothing to do but wait for the ethereum 2.0 to come to this space. Tillbthen we have to pay this kind of high fees. Hope ethereum 2.0 will come as soon as possible.

Savagecodes

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Quote from: Hobo66 on February 05, 2021, 02:41:45 PM

High Fee is now a big problem for low income investor. Of course no one can bear 20% fee.
I have some solution for you to avoid high fee.
First choose Binance P2P trading where you will get Usd or Btc without any fee. Then trade for BCH.
2nd one is tobuae FTX exchange. Send trc20 to Ftx and exchange this xoin with BCH. Ftx has no withdraw fee . you can withdraw btc,Eth,BCH without any fee to any wallet or exchange.

Sounds very good solution for the OP. However you can also try to go with the BNB as fee structure. I think they are having 50% off on your fees if you pay with the BNB. But again the challenge is you need to have BNB in your possession to avail that offer.

You can also try to go with the SWAP option from other sites. I think that will have less fees and your swap would be far instant as compared to sending the money to BCH broadcast.

nicecrypto

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Quote from: HOT_HEAD on February 05, 2021, 02:29:17 PM

I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?

For bitcoin, Ethereum, Bitocin Cash. It is estimated that we will spend quite a lot of money if our transactions are low. why don't you use altcoins with low fees? There are many options such as Tron or Doge. the delivery itself is quite fast than bitcoin. with the money you call you should choose this and avoid sending bitcoins if your money is low because you will spend a lot of fees

Exactly, I was going to do some transfer with Ethereum and this was even before all this madness of high gas fee and I noticed it would be cheaper for me to convert my bitcoin into Tron and send the Tron to the other exchanges which as you said was faster and cheaper. I think we just have to be wise with this things as we navigate the crypto ecosystem.

Cling18

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That's actually one of the struggles that I have been facing these days. Out of 100% of the coins that I'm withdrawing, I'm usually spending 40% on the fees. I tried using lower fees and my funds ended up being stuck and unconfirmed for weeks but we have to deal with it since that's a part of the market growth.

ElmedoRator

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Quote from: tygeade on March 11, 2021, 12:50:13 AM

I really don't know how going to fix this, if eip 1559 will help ETH or if there is a situation with bitcoin that will be fixed but this really keeps people from buying. Think about how many people will decide not to invest if the entry point is paying 40 dollars as a fee for getting in, and think of how many more people would join if the fee for getting in was 70 cents?

I mean they are obviously different and I would say that it slows down our increase as well, which is why I do not believe that we should be getting these fee's any higher, but I do not know how we will get it lower neither.

You know the reason why its high right? Miners do not "charge" people a lot, it is the people that pay a lot, if people decided not to pay we could drop it right away today in an hour make it small, but people pay more to get theirs go faster and that causes it to basically go up more than we can assume because they compete with other rich people to pay more to get their transaction done and poor people left in the between get the trouble.

Yes it is very annoying but still have to accept and wait, I still have some coins on ERC20, and it really makes me crazy when I withdraw $50 and lose up to $20 in fees, that's why I specialize in BSC more recently. I also heard about EIP1559, and they will start from April 7 and hope by then things will become more stable.

tygeade

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I really don't know how going to fix this, if eip 1559 will help ETH or if there is a situation with bitcoin that will be fixed but this really keeps people from buying. Think about how many people will decide not to invest if the entry point is paying 40 dollars as a fee for getting in, and think of how many more people would join if the fee for getting in was 70 cents?

I mean they are obviously different and I would say that it slows down our increase as well, which is why I do not believe that we should be getting these fee's any higher, but I do not know how we will get it lower neither.

You know the reason why its high right? Miners do not "charge" people a lot, it is the people that pay a lot, if people decided not to pay we could drop it right away today in an hour make it small, but people pay more to get theirs go faster and that causes it to basically go up more than we can assume because they compete with other rich people to pay more to get their transaction done and poor people left in the between get the trouble.

cyriljundos

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i think bch would be the wrong choice for you. choosing other alternative coins that you can probably gain you extra income. if you buy $35 and you will get only 8$ it would be too much fee and its quite high . i would suggest you to buy alt coins on exchanges and trade it so that you can earn and gain profit.

poodle63

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Quote from: gwdf1 on March 10, 2021, 05:12:56 PM

Ethereum developers make no claims about any solution to the problem of expensive transactions. This puts people in an uncomfortable position and they have to look for alternative methods of transfers in other networks. You can see how the price of BNB jumped and the volume of transactions on BSC increased

Bruh there's already proposed solution and it's still ongoing on its implementation, you know what the devs could not do much without miners support and it's really annoying I know but for the implementation to take an effect it needs some time, not to mention last time I checked the last block average fee it's already relatively low although still higher than other blockchain so our best course of action is just to wati.

CryptoSable

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Yea, high fee is a big problem

kramchers

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Quote from: HOT_HEAD on February 05, 2021, 02:29:17 PM

I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?

Does your local change have XRP? Because in my local exchange there is an XRP where I can able to convert my fiat into this currency,
then once it's been converted the transaction fee is too small or cheap. And once it has been transfer I can now sell it in the platform where I transferred it to start an activity in trading in the exchange, just simple as that.

ElaineGanda

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Futurov

Sad to say that fees are also soaring high and it is not profitable on the side of small scale investors. Well I read that by the month of July, the issue of high gas fee in ethereum will be resolved, I hope that other tokens with high gas issue will be resolved also.

BuNga_cute

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In my opinion, BCH transaction fees are not very high when compared to Ethereum which has much higher transaction fees. Maybe you chose
the wrong platforms to buy BCH, so you will be exposed to quite high transaction fees. I recommend using Binance to buy BCH, you can first
deposit to Binance exchange and after that you can buy BCH. You can later prove yourself that the BCH transaction fees are not that high.

tabas

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Quote from: gwdf1 on March 10, 2021, 05:12:56 PM

Ethereum developers make no claims about any solution to the problem of expensive transactions.

Actually, there's already a solution that's about to come somewhere around July of this year.
Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July

Mahanton

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Quote from: gwdf1 on March 10, 2021, 05:12:56 PM

Ethereum developers make no claims about any solution to the problem of expensive transactions. This puts people in an uncomfortable position and they have to look for alternative methods of transfers in other networks. You can see how the price of BNB jumped and the volume of transactions on BSC increased

Impressions that i do have on this moment or whats up into my mind on telling, what he heck ETH developers been doing this time? Fees are way too high and there's
not sign of some sort of network becomes normal and still continuing to experience the same problem which isnt already tolerable for a long period of time.
If we do compare it on Bitcoin clogged network and the time or duration on where the network becomes calm then you can really tell the difference.
They do have their own flaws but you can point out which one is bearable and which one isnt.Time for jumping on other boat?

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