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Topic: Fees are so high - page 2. (Read 827 times)

legendary
Activity: 1946
Merit: 1427
December 02, 2017, 10:37:41 AM
#7
Transaction fees are expected to be high because you are dealing with the internet and this is one way that they can get profit. Maybe they should set a standard that everybody can follow

Like communism? That's not how it works, and it won't work. Even if you would have a standard flat fee, people who need to prioritize their transaction will just pay multiple groups of miners extra money to include his transaction first, which will ultimately result in cartels only mining specific transactions..

and ontop of that, the fees that miners currently earn are really not their main income, but rather the block reward is.
newbie
Activity: 69
Merit: 0
December 02, 2017, 09:56:55 AM
#6
Transaction fees are expected to be high because you are dealing with the internet and this is one way that they can get profit. Maybe they should set a standard that everybody can follow
legendary
Activity: 1946
Merit: 1427
December 02, 2017, 09:47:08 AM
#5
Why the fees are getting so high now?

Because of a number reasons.

A. bitcoin is getting worth more $$$, which means that even if the transactions stay the same, it will still cost you more.

B. Scalability, more people are adopting bitcoin, which means more transactions, while there are only blocks roughly every 10 minutes. This means that people who want to have their transactions prioritized, need to pay more.

See the amount of current transactions in the mempool that are waiting for confirmation, https://blockchain.info/charts/mempool-size
member
Activity: 742
Merit: 19
December 02, 2017, 09:24:36 AM
#4
Did you mean bitcoin transaction fees?
full member
Activity: 182
Merit: 100
December 02, 2017, 08:57:55 AM
#3
you are refering to transfer fee ? please be specific about which coin ?
full member
Activity: 266
Merit: 106
December 02, 2017, 08:08:59 AM
#2
Why the fees are getting so high now?
Hello

What fees are you referring to? Please give exact example bothers you and cryptocurrency you are speaking about?
newbie
Activity: 64
Merit: 0
December 02, 2017, 07:36:22 AM
#1
Why the fees are getting so high now?
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