It's time to move to the new segwit compatible addresses.
Once those start being used more, the transactions fees on the legacy addresses should start to drop.
Topic: how can bitcoin survive with 26 USD transaction cost? - page 3. (Read 1474 times)
Presently ,the transaction fee is a real problem, imagine someone find out about BTC and watch some old videos about it, when people was talking about bitcoin as currency that will let us get rid of high fees and banking stuff ! he will be like what WTF!
I think, if transaction fee keep getting high and high, Bitcoin will only use to buy expensive stuff like cars, houses etc.
I think, if transaction fee keep getting high and high, Bitcoin will only use to buy expensive stuff like cars, houses etc.
Wallets are not Bitcoin. And wallets can't keep up with the fee situation. When Bitcoin had capacity to spare in the early days you could guarantee that the fee would remain steady and super cheap.
These days it's all over the place. It could be next to nothing or several dollars depending on who's attacking it or the time of the week. The only way users can make sure they're getting the best fee is to set it themselves, even then it might hurt.
These days it's all over the place. It could be next to nothing or several dollars depending on who's attacking it or the time of the week. The only way users can make sure they're getting the best fee is to set it themselves, even then it might hurt.
Yup! Bitcoin transaction fee had nothing to do with the wallet issue I really think there are added fees by some wallet, and depending on your wallet the fees might occur, this is a recent problem with the miners fee and for the block to be confirm if there are a solution to these problem it is up for the developer to arrange it, and for the miners fee they only ride the wave of the changing price and a correction might occur as well,
And aside from OP's always spouting about the jax this thread feels like your advertising something. Just saying it keeps on whenever you had to post
Yes transactions costs are becoming highs these days. Actually problem lies with increasing bitcoin prices each satoshi is know becoming worth it and the fees is sats/bytes. So with increase in sats price the overall fees is increasing too. Moreover the real problem is that if one sends a lower fees transactions take a hell lot of time to approve. These things are really making btc much more centralized don't know how are devs going to solve it.
You probably use an expensive service, all of my wallets are in the 17-50 cent range.
The transaction cost is a serious problem for sure.. if we want to see bitcoin getting into mainstream use, not just speculations
Wallets are not Bitcoin. And wallets can't keep up with the fee situation. When Bitcoin had capacity to spare in the early days you could guarantee that the fee would remain steady and super cheap.
These days it's all over the place. It could be next to nothing or several dollars depending on who's attacking it or the time of the week. The only way users can make sure they're getting the best fee is to set it themselves, even then it might hurt.
These days it's all over the place. It could be next to nothing or several dollars depending on who's attacking it or the time of the week. The only way users can make sure they're getting the best fee is to set it themselves, even then it might hurt.
nope my transaction cost before werent that high it was a sudden increase
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
but my jaxx wallet tok 26 usd from me
Because you've enabled dynamic fees instead of checking how much is needed for the transaction to confirm relatively fast. It's like every other thing in life when you choose to be lazy and want everything to be done fast and with minimum effort you have to pay for it. You had a chance to send a slow transaction for $2 or a relatively fast one for $5, but you were lazy and paid $26 for a first block confirmation. I hope it was worth it and time really meant money to you
ah so my wallet didnt had the right mode and now jaxx took extra fees because i used their wallet?
i did what the jaxx wallet recommended me to do i trusted this is a good mode,
now a question do blockchain wallets take fees for the usage?
regards
SegWit should reduce the fee when the transaction is done between the two wallets where it's supported. Also do check the current fees on https://bitcoinfees.earn.com/ before you actually send the transaction - you can save quite some money. Down the road there is a plan to implement Schnorr algorithm instead of current ECDSA which is much more efficient and should additionally reduce the prices.
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
but my jaxx wallet tok 26 usd from me
Because you've enabled dynamic fees instead of checking how much is needed for the transaction to confirm relatively fast. It's like every other thing in life when you choose to be lazy and want everything to be done fast and with minimum effort you have to pay for it. You had a chance to send a slow transaction for $2 or a relatively fast one for $5, but you were lazy and paid $26 for a first block confirmation. I hope it was worth it and time really meant money to you
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
but my jaxx wallet tok 26 usd from me
Did you check to see if that was the fee that the miner got, or has jaxx kept some of it?
It would be even better if you copy that Transaction ID and post it here so we can see aswell.
Anyway, I think even 0.001 is too much and you need to be lucky to pay as low as that. In some wallets you can manually set how much you want to pay for transaction fee but even if you choose minimum, it will still be around 0.001 BTC and you may need to wait few hours until first confirmation. You can do this in Electrum desktop wallet.
i am constantly paying around 0.004 btc transaction fee this is what jax reccomends me to do,
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
but my jaxx wallet tok 26 usd from me
Did you check to see if that was the fee that the miner got, or has jaxx kept some of it?
i send 100$ with only 12$ fee so not think that
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
but my jaxx wallet tok 26 usd from me
Did you check to see if that was the fee that the miner got, or has jaxx kept some of it?
The fees are sure high now, and then sometimes you have te bump the tx fee, this happened to me a little while ago and result in a higher tx fee than the funds I sent.
Anyway, aside for the fees which the Bitcoin devs are addressing, the main thing is that you are in complete control of your funds with Bitcoin, with some other banks and financial institutions, you are not and it is in their hands - there are all sorts of reports about this...
Anyway, aside for the fees which the Bitcoin devs are addressing, the main thing is that you are in complete control of your funds with Bitcoin, with some other banks and financial institutions, you are not and it is in their hands - there are all sorts of reports about this...
Feeling bitcoin trading is much higher than other coins. I think forks might be able to help bitcoin find a solution to this problem, or is it because the problem is not solved so that people will use ETH more?
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
but my jaxx wallet tok 26 usd from me
I agree that Bitcoin transaction fee is one of most important problems, but the transaction fee is not much now. Now 0.5 mBTC which is equivalent to 4 dollar is enough for a transaction to be confirmed very fast.
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