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Topic: Are you using low fees? - page 16. (Read 13463 times)

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legendary
Activity: 1134
Merit: 1000
June 05, 2017, 05:42:28 AM
Yes, I mostly go with the average fees but still since last few weeks I am experiencing lesser confirmation time (I am not sure how much of the portion from exchange fees is allocated for the transaction fees). I use Blockchain web wallet and they usually put dynamic fees along with the transaction according the the current network load. Thus, I never faced any unconfirmed transaction issue.
in fact the conformation speed is different from time to time. some time it take some minutes and remain very fast, while other time the conformation time take a lot of time some time more than hours. i think the issue is increasing from time to time and it must be solve on priority bases because the users of bitcoin are increasing too much, therefore it is too much important that all the complaints against the conformation time must be solve.
legendary
Activity: 1582
Merit: 1006
beware of your keys.
June 05, 2017, 05:33:16 AM
i am not dare to pay a low fee for any transaction nowadays, the situation on the Core is explicit that too many unconfirmed transactions lagged the blockchain. i have one of my signature withdrawal with ~100 satoshi per byte required more than half of a day to confirm.
hero member
Activity: 1134
Merit: 502
June 05, 2017, 05:28:16 AM
Yes, I am using low fees most of the time because i am not in a hurry receiving my withdrawals, But if i am sending someone and if its important i used the highest amount so that the other party can get the Bitcoin faster, i do this when i am manually trading Bitcoins to my contacts.
hero member
Activity: 1190
Merit: 534
June 05, 2017, 05:25:20 AM
Yes, I mostly go with the average fees but still since last few weeks I am experiencing lesser confirmation time (I am not sure how much of the portion from exchange fees is allocated for the transaction fees). I use Blockchain web wallet and they usually put dynamic fees along with the transaction according the the current network load. Thus, I never faced any unconfirmed transaction issue.
It's really up to you if you really need it or it can wait. I use lowest possible fee in transferring amount that I will not use as soon as possible while if the amount that I send is have something to be used which is important and requires immediate use as soon as possible then I will place high fee and will not do microtransactions as I can since it will really eat up your money.

Yes, it is not worth it for micro transactions but I do less transactions with high amount so I don't hesitate to pay the fees which are required by the network. This thing should be resolved if we want bitcoin as a payment option in local shops / offline markets etc. Even though the fees are not much for normal transaction, one can not afford to pay these fees for micro transaction and even for the normal transactions if the situation continues.
legendary
Activity: 1540
Merit: 1003
June 05, 2017, 04:50:32 AM
Why are the fees so high now, where there are only 50k unconfirmed transactions? The situation is not like before when we saw more than 200k transactions unconfirmed!

I just checked making a transaction in coinbase and they charge 0.0013 which is really a lot and i assume that is around 500+ satoshis per byte.
legendary
Activity: 3346
Merit: 1191
June 05, 2017, 04:46:28 AM
Yes I`m using a wallet with low fee, it was like that until recently, xapo now have fee and for me this fee is too high. Couple days ago I wanted to send 7 mBTC and low fee for slow transaction was 1.5 mBTC, high and fast one was above 2.3 mBTC, that is funny and to high for me.
In the end I didn`t send that bitcoins, I`m looking for another wallet with lower or at least with adjustable fee`s, I don`t mind waiting, it`s better then to overpay transaction.
hero member
Activity: 2660
Merit: 551
June 05, 2017, 04:28:19 AM
I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees Cheesy

I hope you do know that this exchangers don't give you the private keys to your wallet right? So it means you don't have control of you btc. Another issue is that if those exchangers are hacked, what will happen to your bitcoin then? It will be gone. That's why most of us here uses wallet that we can have the private keys so at least we have the control like adjusting transaction fees when we want to send it to someone.
full member
Activity: 192
Merit: 100
June 05, 2017, 04:27:57 AM
My web wallet is charging me about 1.8$ per transaction but it confirms within an hour though, some times less than an hour and this is huge if you're sending smaller payments so I will advice people to use Bitcoin torvhigher transactionscat least until a solution is applied to the current issues.

True, web wallets always default to the cost of transactions, but thanks to that, transactions are processed faster, it's very convenient
full member
Activity: 173
Merit: 100
June 05, 2017, 04:16:47 AM
I use low fees in those cases when I don't need the bitcoins urgently and can wait for days to reach my wallet.
I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees Cheesy
I much prefer on low fees however, it is much better to have a higher fees as long as you can assure your wallet is safe rather than the wallet that has a low fees but the security is not that good. I always use online and trusted wallet to assure my money is in the good hand.
We should never use online wallets, as the chances of them getting hacked are pretty much high and you will be left with nothing if they get hacked.
sr. member
Activity: 812
Merit: 250
June 05, 2017, 04:05:26 AM
I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees Cheesy
I much prefer on low fees however, it is much better to have a higher fees as long as you can assure your wallet is safe rather than the wallet that has a low fees but the security is not that good. I always use online and trusted wallet to assure my money is in the good hand.
legendary
Activity: 1862
Merit: 1004
June 05, 2017, 04:03:35 AM
To be honest. I just stopped using bitcoin for my daily purchases when I learned that scaling resolution is planned to take place in Summer.
I can wait for that, hopefully it will bring us much lower fees and speed whole network up.
Normally when I send BTC I try to include 'correct' tx  fee. It is frustrating to wait days for my transaction to confirm.
hero member
Activity: 994
Merit: 507
June 05, 2017, 03:57:00 AM
Yes, I mostly go with the average fees but still since last few weeks I am experiencing lesser confirmation time (I am not sure how much of the portion from exchange fees is allocated for the transaction fees). I use Blockchain web wallet and they usually put dynamic fees along with the transaction according the the current network load. Thus, I never faced any unconfirmed transaction issue.
It's really up to you if you really need it or it can wait. I use lowest possible fee in transferring amount that I will not use as soon as possible while if the amount that I send is have something to be used which is important and requires immediate use as soon as possible then I will place high fee and will not do microtransactions as I can since it will really eat up your money.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
June 05, 2017, 03:55:28 AM
My web wallet is charging me about 1.8$ per transaction but it confirms within an hour though, some times less than an hour and this is huge if you're sending smaller payments so I will advice people to use Bitcoin torvhigher transactionscat least until a solution is applied to the current issues.
With the current rate of bitcoin, 1.8$ supposedly to be 0.00073 while the average fee needed for a transaction to be confirmed within the next 3 blocks is 0.00088140 (from https://bitcoinfees.21.co/). No wonder why it's still taking an hour for just a confirmation. Even my transaction which I made a day ago uses 500 sat/byte as a fee and still unconfirmed within 2 hours.
If you want to make a transaction, always be sure to check the current recommendation on that given site above, otherwise your transaction will either stuck or have too much fee(not wrong btw).
The scalability issue seems will not be solved very soon, the only way is to use the recommendation fee as your advice.
newbie
Activity: 8
Merit: 0
June 05, 2017, 03:54:14 AM
well when it comes to management of a wallet to do a transaction you prob do a fee of even 10000 sats to fee in BTC for most wallets even some do 16000 and its very regular to take just 30 mins to block find and transact but lower fees will take more time and very low fees like you saw or use of the 100 sats can get you to take like 3 to 2 days no? i mean depends on your need of the other side of the trasanction but it can become like a bank transaction in time if 100 sats only used and only if you can control that like multibit hd wallet but i do not advise too much low fees even less than 10000 satoshis for now.  i could see its your point over 5 years from now if btc goes really up and 10000 sats can become like 3 $ or soo yes that part can be exspensive to use the 30 mins transactions you are very pretininent in question but only for like 6 years from now ... for now i advise to use 16000 satoshis fees or 10000 satoshis fees for amounts of 50$ transactions ... in my humble newbie opinion
newbie
Activity: 13
Merit: 0
June 05, 2017, 03:50:51 AM
Except for no-need to urgently payments, I send with them with at least 200/s when is congested and normally 0.0002 or so when the network is normal.. it's not bad when you don't need the coins urgently "and can easily rebroadcast them if they expire" however when you want a confirmation soon a decent fee is a must.
hero member
Activity: 994
Merit: 502
June 05, 2017, 03:48:09 AM
For transaction between two wallet address I used to go with the transaction fee that's suggested by the wallet itself. Other than that during the time of gambling on live events used to place an increased transaction fee for faster confirmation as the odds used to vary with respect to time based on the game scenario.
hero member
Activity: 1190
Merit: 534
June 05, 2017, 03:44:33 AM
Yes, I mostly go with the average fees but still since last few weeks I am experiencing lesser confirmation time (I am not sure how much of the portion from exchange fees is allocated for the transaction fees). I use Blockchain web wallet and they usually put dynamic fees along with the transaction according the the current network load. Thus, I never faced any unconfirmed transaction issue.
sr. member
Activity: 348
Merit: 250
June 05, 2017, 03:35:38 AM
I still like using Online Wallet, trusted services like Coinbase & XAPO, their services are good, have high quality security, easy too use, nice U.I, and Almost transaction I don't need to care about fees Cheesy
hero member
Activity: 1593
Merit: 502
June 05, 2017, 01:03:20 AM
My web wallet is charging me about 1.8$ per transaction but it confirms within an hour though, some times less than an hour and this is huge if you're sending smaller payments so I will advice people to use Bitcoin torvhigher transactionscat least until a solution is applied to the current issues.
What web wallet you using? They are doing a good job of ensuring your transaction confirms in a reasonable time.
hero member
Activity: 518
Merit: 500
June 05, 2017, 12:53:05 AM
I just sent a 189-bytes transaction and paid a little less than 78 sats per byte. It confirmed about an hour after I made the transaction. That only cost me about half a dollar, instead of paying a little less than $2 had I chose to make the confirmation faster. This is what I do in times that I really don't need to hurry and the additional savings on the transaction fees could prove to make a difference in the long run.
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