LOONG TIME, NO SEE! - page 2. | Bitcointalksearch.org

Darker45

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Quote from: dihari on April 18, 2021, 10:11:09 PM

Quote from: pealr12 on April 18, 2021, 07:43:51 AM

This is what we have to deal with, both btc and eth are very expensive to transact with, eth is even the worst, it is hard to chew but you have to accept it, btc is high in price sane with eth, and high transaction fee is the price for it.

That's why I am no longer agree with the statement of bitcoin and ethereum is the digital currency. I am no longer treat both crypto as an alternative payment. I don't even call them money anymore.
Sending money on the internet supposed to be free and fast. While bitcoin and ethereum can't do that, I prefer to treat them as a digital asset. The platform to grow wealth. So whatever the fees, I can deal with it.

What would be the basis of something to be considered a currency? Is it the fee, so that whenever the fee rises, the currency ceases to be one? That would be ridiculous. Anyway, I've just bought prepaid load. The app accepts Bitcoin and I paid in Bitcoin. Whether it will convert it to fiat right away doesn't matter. I spent Bitcoin. That means it is still a medium of exchange, therefore, money.

On what basis do you suppose sending money on the internet should be free and fast?

dihari

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Quote from: pealr12 on April 18, 2021, 07:43:51 AM

This is what we have to deal with, both btc and eth are very expensive to transact with, eth is even the worst, it is hard to chew but you have to accept it, btc is high in price sane with eth, and high transaction fee is the price for it.

That's why I am no longer agree with the statement of bitcoin and ethereum is the digital currency. I am no longer treat both crypto as an alternative payment. I don't even call them money anymore.
Sending money on the internet supposed to be free and fast. While bitcoin and ethereum can't do that, I prefer to treat them as a digital asset. The platform to grow wealth. So whatever the fees, I can deal with it.

LogitechMouse

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Quote from: omegaflare on April 17, 2021, 08:24:16 PM

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

I just visited mempool.space just now and the lowest transaction fee that I saw was near $10.
Am I surprised with this? Not really although there are times in the past few weeks that I made a transaction and the fees at that time was below a dollar. Good timing for me I guess.

We've seen this kind of transactions already for a long time. I think you need to time your transaction pretty well. In my place, I usually make a transaction at afternoon because at that time the fees are lower at least for me. Maybe that isn't the case now since the transaction fees are surging. Just wait for the fees to go down I guess and greed isn't a factor here. Its just that there was a time where fees are surging that high

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Hamphser

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Quote from: omegaflare on April 17, 2021, 08:24:16 PM

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Normal scenario that you can really see when the network is clogged up or simply it had been flooded out by lots of transactions which does usually happen when bitcoins price

do tend to rise up or to dump down where people do make out corresponding actions basing off on the situation that they are facing. Somehow these high prices

wont stay up that long and once the market transactions had stabilized then everything would goes back to normal.

oktana

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Lol... Nothing like greed. It could get back to the gas fee price you know if only Bitcoin were to dump to a way lower price.
So, the more we go higher, the more the fees increases. Have you seen ETH fee?
I wish I was charged $27 to make an ETH transaction!

andthereyou

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Quote from: omegaflare on April 17, 2021, 08:24:16 PM

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Yes, I think it's greed. What else can we called that? Also when sending tokens through ethereum the minimum transaction fee for fast transaction was 10usd (before it's a penny).

jjdub7

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Quote from: omegaflare on April 17, 2021, 08:24:16 PM

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

I don't think this is surprising, it's just the reality at the moment, high fees and a long transaction time. This is a problem from the very beginning that will not be solved any time soon. Therefore, Bitcoin is not used for payment, it is not profitable and requires time.

pealr12

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This is what we have to deal with, both btc and eth are very expensive to transact with, eth is even the worst, it is hard to chew but you have to accept it, btc is high in price sane with eth, and high transaction fee is the price for it.

Dewi Aries

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Quote from: omegaflare on April 17, 2021, 08:24:16 PM

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

At past i think about that too, if price of bitcoin increased, what will happen with fees. Because sometimes it is not really change too much in BTC. It means in fiat it will boosted too. And it really happen, at past $1-$5 already can be used as fees. But now $5 bitcoin can't be send because fees are higher.

xZork

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Quote from: kotajikikox on April 18, 2021, 04:27:53 AM

Quote

If Bitcoin couldn't solve the problem of transaction fees it probably never really became a currency.

Are you serious? Lol just because of Fee it will never become a currency? Bitcoin is already a currency for more than 10 years and what says not a currency?

At the present time bitcoin is more of a speculative vehicle than a currency, with its slow speed and high transaction fees making it impossible to carry out small transactions.
For these reasons, BTC has yet to truly become a currency.

serjent05

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It is really quite frustrating to see how high the transaction fee had been when we look at it in USD but as what pooya87 stated, the fee today is pretty much cheaper than the fee when you were last active here in Bitcointalk in term of satoshi, it's that the value of BTC had surged a lot compared to when you were last active so it is quite understandable that you are in shock.

slaman29

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Something to do with some mine explosion in china which causes the coal supply to just suddenly get cut off, thereby not enough electricity to supply mining farms in the area. Some say it is supposedly causing a huge dip in hashrate, but I have no doubt this will get fixed soon.

Meanwhile Price has dropped $10k!

J1mb0

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Should limit transactions by BTC or ETH at the moment, the transaction fees of these currencies are very high.
If possible you should convert these currencies into a currency with lower transaction fees, which will save you quite a bit.

AGD

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What happened? https://cryptonews.com/news/bitcoin-hashrate-drops-after-china-coal-mine-explosion-diffi-9945.htm

Edit: This will last for more than a few days.

kotajikikox

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Quote from: xZork on April 18, 2021, 03:24:11 AM

Due to the high current value of bitcoin, the transaction fees also increase, ETH is in the same situation.

This has been the situation since November last year though the fee increased so much early this year .but there are altcoins so what bothers you?

Quote

If Bitcoin couldn't solve the problem of transaction fees it probably never really became a currency.

Are you serious? Lol just because of Fee it will never become a currency? Bitcoin is already a currency for more than 10 years and what says not a currency?

acdc

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Bitcoin is the king of the crypto market and its high transaction fees are quite familiar with everyone.
Maybe at the moment bitcoin's transaction fees are so high that it's overwhelming for new entrants, but if you stay in the market for a while you'll get used to it.

mbe48

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I think this is normal, because looking at the price of bitcoin alone, it is far different from the price it used to be. The amount remains the same but the price is different. But in my opinion too, there should be an update in the system for transaction speed and shipping costs.

MCDev

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Most of the transaction fees of currencies on the market are calculated in the same currency, so if that currency increases, the transaction fees will also increase.
At the moment people are very unlikely to make transfers in BTC or ETH because of concerns about fees.

xZork

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Due to the high current value of bitcoin, the transaction fees also increase, ETH is in the same situation.
If Bitcoin couldn't solve the problem of transaction fees it probably never really became a currency.

gabriela1999

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Bitcoin's growth also makes it a significant increase in fee. Not only Fee Bitcoin increases. Look at ETH, the transaction fee is increasing every day.

Topic: LOONG TIME, NO SEE! - page 2. (Read 317 times)