High transaction fees ! | Bitcointalksearch.org

VanKleiss

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Quote from: bjbear123 on August 25, 2017, 01:19:50 PM

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

I guess the transaction will get verified with a lower fee but it would take an hour, the moment that I noticed the high fee I was getting lightly irritated because it would spend a certain amount of satoshi which is much larger that the amount that I was going to transfer to an external bitcoin wallet . And that is the reason why I don't transfer to exchanges and trade because it would be so much expensive from the moment you deposited your money to the moment that you are going to withdraw .

AGD

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Keeper of the Private Key

Quote from: Praesidium on August 30, 2017, 11:41:58 AM

This is the frustration about Bitcoin, as the price of the bitcoin increases so do its' transaction fees. It is pain in the ass to transfer bitcoin almost 1-2$ fee is needed to transact. I can buy something might be useful. Hopefully in the future the transaction price will drop to decimals

This is a lie!

Praesidium

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This is the frustration about Bitcoin, as the price of the bitcoin increases so do its' transaction fees. It is pain in the ass to transfer bitcoin almost 1-2$ fee is needed to transact. I can buy something might be useful. Hopefully in the future the transaction price will drop to decimals

SonOfNorth

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THE GAME OF CHANCE. CHANGED.

0.001 BTC fee goes through in an hour or so when using an accelerator, otherwise it will take days. But this is the fee that I'm willing to pay for sending few bucks, so an hour I'm fine waiting even if it takes tricks to get through with, but otherwise it's just ridiculous.

salfter

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Quote from: salfter on August 25, 2017, 11:09:15 PM

Quote from: Irlasos on August 25, 2017, 01:22:59 PM

I personally use this website: https://bitcoinfees.21.co/
But it look like you need to put 301 satoshis/byte or more to be sure the transaction will be confirmed, and apparently the transaction could take some days with this fee.
Edit: Bad satoshi/byte indicated in first time

I've had transactions go through in 1-5 hours with 25-50 satoshis/byte. Earlier today, I swept the last $3 worth out of Bitcoin Core onto my Trezor, and set the fee at 5 satoshis/byte:

https://blockchain.info/tx/fefae7ed63cb5171f11ba32c82d1d68f313b8e6da34578eb478be145c82bde6a

Let's see if this goes through, and if it does, how long it takes. One transaction a while back took a day and a half to confirm...don't recall how low I went with the fee, though.

...and it finally got accepted after about 4 days, 18 hours.

Rahar02

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Quote from: haroldtee on August 25, 2017, 01:24:41 PM

I noticed this too in my transaction yesterday. I actually thought with the whole segwit activation, we will have a lower transaction fee. Seems it has increased more than we even had before. Is this how we are going to keep going or there is something I am missing out here.

Yes, wallet devs should update their codes to suitable for segwit, and we have oto move all of our bitcoin to the new address.
Current transactions fees are inconvenient as it's too high for now, and look at unconfirmed transactions, more than 86K and BTC63 total fees waiting for the miners. So, I recommend don't do any transaction at the moment until segwit and wallets synchronized, fit to each other. If you are using electrum, read this; https://twitter.com/ElectrumWallet/status/900591309521596416

SONG GEET

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Quote from: bjbear123 on August 25, 2017, 01:19:50 PM

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

If you just want to make micro transactions than xapo and coinbase are the only option you have because they don't have fee for their off chain transactions.

Fee depends upon size of your transactions but currently minimum fee is over $5 because mempool is full with unconfirmed transactions most of them are just to spam bitcoin network. Wait for few more days when all this spam transactions will be dropped from mempool.

salfter

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One more observation...have a look here:

https://blockchain.info/stats

As of now, they're reporting 98 blocks found in the last 24 hours. The normal pace would be somewhere around 144...thought I'd heard some pools were shifting mining power off of Bitcoin, so that would account for that.

More interesting than that, though, is the transaction-fee total: about BTC421.97. Divide that evenly across 98 blocks and you get about BTC4.31 per block. That's about a third of the value of the current block reward. At some point, transaction fees are supposed to surpass the block reward, and for that to happen, they'll first have to approach the block reward...but did anyone think it might happen this soon?

salfter

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Quote from: Irlasos on August 25, 2017, 01:22:59 PM

I personally use this website: https://bitcoinfees.21.co/
But it look like you need to put 301 satoshis/byte or more to be sure the transaction will be confirmed, and apparently the transaction could take some days with this fee.
Edit: Bad satoshi/byte indicated in first time

I've had transactions go through in 1-5 hours with 25-50 satoshis/byte. Earlier today, I swept the last $3 worth out of Bitcoin Core onto my Trezor, and set the fee at 5 satoshis/byte:

https://blockchain.info/tx/fefae7ed63cb5171f11ba32c82d1d68f313b8e6da34578eb478be145c82bde6a

Let's see if this goes through, and if it does, how long it takes. One transaction a while back took a day and a half to confirm...don't recall how low I went with the fee, though.

klf

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Quote from: Gens09 on August 25, 2017, 06:16:56 PM

Quote from: bjbear123 on August 25, 2017, 01:19:50 PM

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

As the msrket value of bitcoin increases i guess the fee also increases at thjs point to balance the rate of fees but i guess there are jist some wallet that is taking advantage of this increase value and they going to increase the rate at a suprr high rate.

Currently, Bitcoin tractions are very slow. One of my withdrawal from bitsler withdrawal stuck for more than 15 hours and still didn't receive yet. Bitsler system told me if I use 40K Santoshi fee then after two blocks it will confirm but until now the transaction is not confirmed yet. If these things happen to new users then mostly they will lose the confidence in these transactions.

roomfirst

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Quote from: bjbear123 on August 25, 2017, 01:19:50 PM

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

It sucks though, the fee become high again, it is because so many unconfirmed transaction and if you want fast confirmation you need to pay the fee more. The last time i send 0.015 to another wallet and the fee is 0.000119 and it takes 1 day to wait until the transaction confirmed, i even use txid accelerator to make it fast. If you want decrease the fee, try customize the fee and lower it and use txid accelerator to make your transaction confirmed become fast.

Immakillya

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I dont think so. But i will not gonna do that if i were. $5 dollar is the normal fee charge to every transactions being made. If you put $0.2 fee to your transactions. You'll get stuck because the fee you entered is very low. That sucks. So to avoid inconvenience. Just put the fee on normal fee. I also thought that this problem will be fix as soon as the segwit is finished. But it's not. So owning bitcoin these days is very hard and expensive. Specially to those small people like me. $5 is too high for me because i usually have few bucks to send.This problem should be address on the next upgrade. They better figure this out. If not, BCH/BCC will take over.

bamboylee

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It can't be help when somebody is sabotaging the network. Unconfirmed transaction is rising again thus the tx fee is also rising. I do not think moving to bch or any alts that have faster confirmation and lower fee is a solution either. They have that now because it does not have that much transaction yet.

CryptoBry

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Quote from: haroldtee on August 25, 2017, 01:24:41 PM

I noticed this too in my transaction yesterday. I actually thought with the whole segwit activation, we will have a lower transaction fee. Seems it has increased more than we even had before. Is this how we are going to keep going or there is something I am missing out here.

I have been expecting the same too that with that August 1 SegWit there would be better fees and lightning-fast turnover of transactions. Apparently, it has not yet happened and I think we have to wait for November when there would be a better upgrade. As of now, Bitcoin leaders are still entangled with so many debates, accusations and counter-accusations leaving Bitcoin not the way it should be. Hope things will finally be solved before the year ends.

Chyton

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This is what I've been talking about lately, Bitcoin isn't going to be your next go to "digital" cash but it's going to be a "digital" gold. There are other altcoins or yet to be found that is more promising to be a digital cash.

smauni

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The fees is so high. Yesterday there was 40$ in my wallet. I want to send them in bittrex exchanger. I thought the fee will 2$ but when I went to sent them I saw that the fee is 4.83$. Almost 5$. This is so sad for us.

pooya87

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Quote from: FiendCoin on August 25, 2017, 02:08:28 PM

Bitmain is deliberately mining empty blocks, while also spamming the network and moving its hash to bcash just to cripple bitcoin. All the current problems are of bitmain's doing. Never forget, bitmain is the enemy.

https://cointelegraph.com/news/antpool-asicboost-share-blame-for-bitcoin-network-delays

This is what happens when mining centralizes and one miner gets too much power.

what the hell, this article doesn't explain anything! specially regarding ASICboost which is the main subject of it! it just gives some data that we all knew prior to this and are mostly copy paste of all over the internet and then ends the article with the most vague two lines:

"The motivation behind boycotting SegWit transactions lies in suspected use of ASICBOOST by miners, a function which manufacturer Bitmain had previously denounced.

“[Using ASICBOOST], however profitable, is not something we would do for the greater good of Bitcoin,” the company wrote in a blog post in April."

what does this even mean?
the 80K unconfirmed transactions weren't SegWit transaction to boycott or whatever, they are normal tx. and i don't get how the ASICBoost comes in here either!

cpfreeplz

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"Omg guys my silver transaction cost 1300 pesos" what the hell does that mean!? Like what the hell OP. Ya I know you haven't posted in a while (or ever?) Because you literally don't even understand you're paying Satoshis per byte. How many bitcoins did your bitcoin transaction cost ffs!? Make... more... sense!

yndye

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Quote from: bjbear123 on August 25, 2017, 01:19:50 PM

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

Yes it's quite a disappointment that transaction fee is that high now. Before, it is just easy to send a small amount cause the transaction fee is low. I am hoping that it will be lower in the future cause if I only have small amount then it would just be eaten up by the transaction fee if I wanted to send it to other wallet.

DoublerHunter

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Quote from: bjbear123 on August 25, 2017, 01:19:50 PM

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

I don't think that it is possible to get verified with your transaction for just 0.2 USD fee because that is a very small amount of bitcoin for the miners and they are always basing on amount of bitcoin in fees for transactions and not on fiat or dollar based so i think there is no excuse for paying high fees.

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