Is this normal to other people or just me ? - page 2.

xhomerx10

legendary

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Merit: 7912

Quote from: HelpMePleaseIbegofYou on April 22, 2021, 02:26:33 PM

i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?

can someone please tell me whats going on ?

Many people want to transfer their bitcoin and the miners get to pick the transactions that get through - they generally select transactions with the higher fees.
If you only want to transfer $1 worth, you'll have to wait until the mempool is nearly empty - see April 10,11,12,13
You likely wont have to wait tooooo long. If you don't like waiting, you can use the lightning network - https://99bitcoins.com/bitcoin/lightning-network/wallets/ (caution - some wallets are custodial - not your keys = not your coins)

BlackHatCoiner

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Farewell, Leo

Quote from: HelpMePleaseIbegofYou on April 22, 2021, 02:26:33 PM

can someone please tell me whats going on ?

Basically, these:

You want your transaction to be included into a block while there are 260k waiting on the mempool right now.
You're using an online wallet and not a non-custodian.
You're not using segwit.

Bitcoin isn't a cryptocurrency to use it for micro-on-chain transactions. These days are gone. Hence the development of the lightning network.

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

There is no specific blockchain for Africa nor specific miners for Africa, there is only one blockchain and miners are all over the world mining and confirming transactions which is general and not specific to a particular country or continent. The mempool right now can include transactions with feerate over 200 sat/vbytes, this is unusual. This will soon be over approximately begining of next month when mining difficulty is adjusted, their would be reduction in feerate.

But, try to make use of segwit next time, you can use electrum wallet for that rather than using wallet that do not support segwit. Blockchain.com wallet supports only legacy, this will be responsible for more teasnation fee paid, if it is native segwit you want to use, 42% or more fee would be safed as segwit fee is lower by 42% or more.

Also, know that bitcoin transaction fee is not calculated using the amount you want to send, it is calculated based on weight. If you are sending $10 worth of bitcoin with 1 input and 2 outputs, and the fee is 0.00002 BTC, the same amount of fee will cost you if even sending $1000000 worth of bitcoin having 1 input and 2 outputs.

HelpMePleaseIbegofYou

newbie

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i couldn't believe what am seeing.. idk why am thinking this is happening to Africans alone as i believe if its happening to USA/UK etc am sure the internet would have been burn by now.. this is just so wonderful i have to pay $39.09 miner fee to send just $1 to a btc wallet ?

can someone please tell me whats going on ?

https://i.imgur.com/UXpsgez.png

Topic: Is this normal to other people or just me ? - page 2. (Read 308 times)