questions about network fees | Bitcointalksearch.org

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Quote from: tora on December 25, 2017, 01:51:27 PM

I sold all my bitcoin for ethereum and litecoin. These have lower fees and quicker transaction times.

Worst decision you could have made. Ethereum has no merchant network or useabillity at all and LiteCoin neither. You are invested in Bitcoin because it retains it value over time and it is supported by a large merchant network and user base.

Now you have to convert back to BTC to be able to use your currency. Roll Eyes

Turkish88

full member

Activity: 714

Merit: 104

Bitcoin core team working for lightning network, if he succes the fee's decrease i am wait for this update and while dont move my bitcoins

slickskin

jr. member

Activity: 36

Merit: 5

Binance is giving me a problem now. I did get the very small amount of bitcoin into the app, like $1.40 worth and I bought 1 ripple coin with like 38 cents left in bitcoin. Since I don't plan on using binance anymore I figured I may as well just send that 38 cents back to GDAX but when I clicked the withdraw button a message just popped up where they say they strongly recommend I enable F2A or whatever that's call. I would, but like I said I don't want to use Binance anymore so why aren't they letting me withdraw my bitcoin?

slickskin

jr. member

Activity: 36

Merit: 5

It did appear that by moving the coins to GDAX and then sending to a random wallet address from there that there was no fee. It took like 12 hours but that's not bad.

lite

legendary

Activity: 1400

Merit: 1009

Quote from: slickskin on December 24, 2017, 10:05:37 PM

So I tried to send a small amount of bitcoin from coinbase to a wallet address on my Binance account so I could buy alt coins.

But then they tried to hit me with an outrageous "network fee". For trying to send like $5 worth of bitcoin they wanted to charge me $32! That can't be right. How do I send my bitcoins to another wallet without network fees. I have a GDAX account also if that helps.

Lol you can't transact without paying the network fee. what you do to reduce fees is, transfer your bitcoins to gdax and exchange BTC->LTC, then move those LTC over to binance then again LTC->BTC. now buy whatever altcoin you want to.

BUSTEDCLUB

member

Activity: 65

Merit: 10

thats why i always use altcoin, eth and lite is my favorite. Also Doge its cheapest fee you can get in popular crypto

sobriket

full member

Activity: 144

Merit: 100

You need to pay those $32 in order to send your money, it is not the exchange's fault that you only have five bucks in there, and honestly, what are you going to buy with five bucks? Nothing.
A bank account transfer to another country cost more than $50 and it takes more than 3 bussiness days.

longwintershere

jr. member

Activity: 224

Merit: 1

“Revolutionizing Brokerage of Personal Data”

Quote from: iamTom123 on December 24, 2017, 11:06:18 PM

We have been suffering from this kind of malady -- I am now seeing it as an insult to all Bitcoin holders, supporters and enthusiasts -- and this has to stopped as soon as possible. It is unfortunate that people responsible for the welfare of Bitcoin have chosen to just sit down for a long time and let Bitcoin slowly kill itself. I still have a big faith on Bitcoin though because frankly I have no choice. The message from all of us here is quite clear: This problem has to be win over otherwise we might as well forget that Bitcoin exist at all. I am actually so tired of this problem because this is not the first time it appeared it has been there all along yet no adequate solutions have been offered and adopted all because they love to do dramatic politicking instead of doing their job in unity and one vision. Have we lost the vision and dreams initiated by Satoshi Nakamoto or should we need to remind them of those?

So now btc transactions cost over $30? Seriously?

ridgeview123

newbie

Activity: 51

Merit: 0

Quote from: tora on December 25, 2017, 01:51:27 PM

I sold all my bitcoin for ethereum and litecoin. These have lower fees and quicker transaction times.

So it might be a good idea to buy ethereum or lite coin directly to reduce fees and increase speed, if, the purpose of buying bitcoin is to buy alt Coins?

zahed

full member

Activity: 344

Merit: 107

Same problem i always faced when i tried to BTC transaction.I think without network fee BTC transaction is not possible on the other hand without network fee ETH transaction is possible.

tora

member

Activity: 532

Merit: 13

I sold all my bitcoin for ethereum and litecoin. These have lower fees and quicker transaction times.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: wail3Bahwu on December 25, 2017, 03:06:16 AM

send it with 120 sat and wait till confirmed it is fast and cheapest way

That's not going to work at all. At this point the recommended network fee is 960 satoshi's per byte, so your recommendation of 120 sat will make sure the transaction to stay unconfirmed for hours and hours, and maybe even for more than a day. I get it that the recommended fee is far too expensive based on its fiat value, but if you think logically, is it really worth it to wait hours and hours just to save yourself a few bucks? Sure, you could choose to use ViaBTC's accelerator, but there are so many people waiting to strike at every round hour, that it most likely won't be working for you at all, and then I haven't even mentioned those who use scripts to farm ViaBTC's accelerator....

Wulanayu

full member

Activity: 336

Merit: 100

I do not think there is a way to send without being charged as you expect, because all the transactions are done by a third party that bridges it so there is a cost to run it, so it is unlikely we can send it free of charge.
a way that you can use maybe you can choose a cheap cost but surely if it is done then your delivery is not as fast as the expensive cost.

wail3Bahwu

member

Activity: 142

Merit: 10

you must pay fee to send you bitcoins, you can control fee.

send it with 120 sat and wait till confirmed it is fast and cheapest way

AntoCokbun

full member

Activity: 322

Merit: 100

there seems to be no other way. because transaction costs will affect the transaction process. the greater the cost then the sooner your transaction is confirmed...

triciaa478

member

Activity: 350

Merit: 10

Bitcoin network fees is for the miners and I don't think you can by pass that ,but it only help your transaction to confirm and process faster than you. People who tried to use low or no fees are those that get their bitcoins stuck in the system and later on seek bitcoin accelerators to confirm their transactions. Get use to it and I suggest only send btc when the amount involve is huge.

steveabrahams

sr. member

Activity: 1050

Merit: 254

Quote from: slickskin on December 24, 2017, 10:05:37 PM

So I tried to send a small amount of bitcoin from coinbase to a wallet address on my Binance account so I could buy alt coins.

But then they tried to hit me with an outrageous "network fee". For trying to send like $5 worth of bitcoin they wanted to charge me $32! That can't be right. How do I send my bitcoins to another wallet without network fees. I have a GDAX account also if that helps.

You CAN send your bitcoins to another wallet without network fees but it will takes a very long time to confirmed or your transaction will stuck forever. That's why it's better to not send a transaction without a fee. The fee is big because of the network is really busy right now and so many unconfirmed transaction too.

iamTom123

hero member

Activity: 490

Merit: 501

We have been suffering from this kind of malady -- I am now seeing it as an insult to all Bitcoin holders, supporters and enthusiasts -- and this has to stopped as soon as possible. It is unfortunate that people responsible for the welfare of Bitcoin have chosen to just sit down for a long time and let Bitcoin slowly kill itself. I still have a big faith on Bitcoin though because frankly I have no choice. The message from all of us here is quite clear: This problem has to be win over otherwise we might as well forget that Bitcoin exist at all. I am actually so tired of this problem because this is not the first time it appeared it has been there all along yet no adequate solutions have been offered and adopted all because they love to do dramatic politicking instead of doing their job in unity and one vision. Have we lost the vision and dreams initiated by Satoshi Nakamoto or should we need to remind them of those?

rockem5

member

Activity: 69

Merit: 10

Antifragile

Bitcoin's transaction fees are there for a reason. You cant just dodge it.

slickskin

jr. member

Activity: 36

Merit: 5

So I tried to send a small amount of bitcoin from coinbase to a wallet address on my Binance account so I could buy alt coins.

But then they tried to hit me with an outrageous "network fee". For trying to send like $5 worth of bitcoin they wanted to charge me $32! That can't be right. How do I send my bitcoins to another wallet without network fees. I have a GDAX account also if that helps.

Topic: questions about network fees (Read 220 times)