too high transaction cost? | Bitcointalksearch.org

matchi2011

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Quote from: mrjakel87 on June 11, 2017, 11:08:08 AM

thanks for answer. But cryptocurrency have no future if they take 25$ to transfer 500$?? A "normal" bank would never ever take that amount

If you make an international wire transfer a "normal" bank surely will take $25 in fee and more if there is a currency conversation involved. But for BTC the price is currently definetely too high!

I think so too. They may be moving the price upwards along with the price of btc since the transactions fees weren't that high back then. I hope most platforms would be a little more cosiderate with their fees as it can minimize people's interest if it's too expensive. Daily transactions would have to be put off and i do weekly transfers now just to save up on the fees

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Quote from: Wowcoin on June 14, 2017, 04:57:39 AM

Quote from: mrjakel87 on June 11, 2017, 10:55:49 AM

I've just sended bts --> bitcoin from bitshares to jaxx (I used blocktraders). I sended for 550 dollars, and when I received it 20 seconds later, there was onlu btc for 525 dollars. 25 dollars for a transaction, isn't it very much?? It's 5 %, and I've tried this before, so it is not just a single episode. Also tried it with shapeshifting in jaxx. Are there any ways I can lower this cost?

thanxx

I experienced that too but from local wallet to blockchain i try to send 0.001 btc but i shoch because the fee is 0.002 in total 0.003 transaction fee its too high. I hope they do have other ways to lower the transaction fee.

Well who would want to pay more just for sending and receiving btcs from one address to another right? Crazy that the amount you paod for fees are twice as big as the amount you transferred. Yeah i think he tranaction fees shouldn't bee that high without compromising the speed of the transaction. A lot of people are alreadg using btc for this soni hope there can be a middle ground

Gaff

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Quote from: Angel777 on June 13, 2017, 01:29:16 PM

High cost transaction is just only people who is not in need.Because they will wait until until they have buyers.So theres a possibility that they could reach the high hit of price increase and a chance to a big amount of btc.But if thats the only way to have your money then you cant save for the coming price increase

If that's the case it will be difficult for other people to transact money however, if you are willing to wait for the buyers, that really shows your loyalty in bitcoin. Too high transaction cost is somewhat unfair to some but maybe fair to others for those who are loyal members in bitcoin if there is a discount of a transaction no matter how high it costs. Stable value or rate of bitcoin may sometimes increases or decreases and it will affect other buyers for its too high transaction cost but if it's really a must then you have no choice but to follow or else you can't transact.

Wowcoin

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Quote from: mrjakel87 on June 11, 2017, 10:55:49 AM

I've just sended bts --> bitcoin from bitshares to jaxx (I used blocktraders). I sended for 550 dollars, and when I received it 20 seconds later, there was onlu btc for 525 dollars. 25 dollars for a transaction, isn't it very much?? It's 5 %, and I've tried this before, so it is not just a single episode. Also tried it with shapeshifting in jaxx. Are there any ways I can lower this cost?

thanxx

I experienced that too but from local wallet to blockchain i try to send 0.001 btc but i shoch because the fee is 0.002 in total 0.003 transaction fee its too high. I hope they do have other ways to lower the transaction fee.

jeraldskie11

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Quote from: mrjakel87 on June 11, 2017, 10:55:49 AM

I've just sended bts --> bitcoin from bitshares to jaxx (I used blocktraders). I sended for 550 dollars, and when I received it 20 seconds later, there was onlu btc for 525 dollars. 25 dollars for a transaction, isn't it very much?? It's 5 %, and I've tried this before, so it is not just a single episode. Also tried it with shapeshifting in jaxx. Are there any ways I can lower this cost?

thanxx

Nope sir, any amount of withdraw will deducted 5%.
I think the developers of that project need to update the wallet. That is an issue, they need to fix that because it can affect the bitshare users. That is also like a bitcoin before, the cost of transaction is .001 and that's too high then the developers of btc found a way to fix that then they'll update the wallet as a result, bitcoin fees is back to normal.

UCHCHILD

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I experienced that thing too this past few days, which is so damn bad because it lessen the money I can have but it is better than nothing in the wallet right? If you want your transaction be fast you need to pay high fee I assure that to you, when I put almost $4 in my transaction as my fee so it actually come so fast,the more you put fee the faster you can get your money.

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Quote from: Angel777 on June 13, 2017, 06:18:35 PM

High cost transaction is just only people who is not in need.Because they will wait until until they have buyers.So theres a possibility that they could reach the high hit of price increase and a chance to a big amount of btc.But if thats the only way to have your money then you cant save for the coming price increase

Yes if you really need the transaction to get confirmed quickly then you will not be worried about the high transaction. But if you are in need and you are patient while waiting for the low fee for your transaction, you will choose to pay the miners fee with the standard amount. And if you are using xapo, you will be forced to pay higher fee.

Angel777

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High cost transaction is just only people who is not in need.Because they will wait until until they have buyers.So theres a possibility that they could reach the high hit of price increase and a chance to a big amount of btc.But if thats the only way to have your money then you cant save for the coming price increase

agustina2

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Quote from: bitbunnny on June 13, 2017, 01:53:32 PM

The time of low fees is over. I think we have to accept there are no more cheap transactions. Either you will pay rather high fee or take the risk that your transactions will never be confirmed or you will have to wait a very long time.
Although the fee issues could be solved but I'm afraid there is not enough will and readines for compromise.

With the current transaction fees, Im still seeing it as a fair one. Due to massive demand on bitcoin, the network is now more crowded too much. And no way we could deal to this but to increase fee. With bitcoin price on it's high price, we can expect that fees is also high.

Just be like that not to the point that it's too much. As long as the bitcoin price is high, the current fees for me is fine. Don't want a situation where bitcoin price was around $1,000 but paying $3-$5 for every transaction, big or small.

bitbunnny

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The time of low fees is over. I think we have to accept there are no more cheap transactions. Either you will pay rather high fee or take the risk that your transactions will never be confirmed or you will have to wait a very long time.
Although the fee issues could be solved but I'm afraid there is not enough will and readines for compromise.

Angel777

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High cost transaction is just only people who is not in need.Because they will wait until until they have buyers.So theres a possibility that they could reach the high hit of price increase and a chance to a big amount of btc.But if thats the only way to have your money then you cant save for the coming price increase

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Quote from: batang_bitcoin on June 12, 2017, 03:57:34 AM

Quote from: mrjakel87 on June 12, 2017, 03:13:53 AM

Ok. I've read different places, that fees rely on the size of the transaction, and if you set your fee to low, then it might actually get more expensive because there are a lot of dust payments. Am I wrong? If not, I would like to find out, if there is a wallet where you can set your own tx fee. Right now I have Jaxx, which allow me to set 3 different types of price/speeds, but seem to me, that it isn't working probably, because the fee is actually the same.

Have anyone experiences with other wallets, where you can set the tx fee yourself?

If you can wait and you are not rushing for the confirmation you can set it to the lowest fee and priority. But expect that it will really take a long time before it gets confirmed and there's no certain amount of time for it. I've been using blockchain and the last time I set the fee is only 0.0002 btc but it was confirmed a day after sending.

Yes. We really need to adjust the transaction fee if we want to confirmed our transaction quick. I myself has been lucky for a few times a send with a low fee 50 sat/byte but was able to confirmed in the next 6 hours. Also viabtc really help me push that transaction to get to the next several blocks. But I guess we can't do anything for now and wait until the issue has been resolved.

tristan1960

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If it's really taking $25 for that transaction it's just unfair... Nothing else. Why the hell should we pay $25 for a transaction. Is this bank? !!!

batang_bitcoin

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Quote from: mrjakel87 on June 12, 2017, 03:13:53 AM

Ok. I've read different places, that fees rely on the size of the transaction, and if you set your fee to low, then it might actually get more expensive because there are a lot of dust payments. Am I wrong? If not, I would like to find out, if there is a wallet where you can set your own tx fee. Right now I have Jaxx, which allow me to set 3 different types of price/speeds, but seem to me, that it isn't working probably, because the fee is actually the same.

Have anyone experiences with other wallets, where you can set the tx fee yourself?

If you can wait and you are not rushing for the confirmation you can set it to the lowest fee and priority. But expect that it will really take a long time before it gets confirmed and there's no certain amount of time for it. I've been using blockchain and the last time I set the fee is only 0.0002 btc but it was confirmed a day after sending.

magmar

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Quote from: mrjakel87 on June 11, 2017, 10:55:49 AM

I've just sended bts --> bitcoin from bitshares to jaxx (I used blocktraders). I sended for 550 dollars, and when I received it 20 seconds later, there was onlu btc for 525 dollars. 25 dollars for a transaction, isn't it very much?? It's 5 %, and I've tried this before, so it is not just a single episode. Also tried it with shapeshifting in jaxx. Are there any ways I can lower this cost?

thanxx

You can try other wallet which has a lower fee such as coinbase and blockchain. My fee in blockchain and coinbase is less than 1%percent per transaction. Probably it'll be cheaper in future as miners expand their hardware and make it faster.

mrjakel87

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Ok. I've read different places, that fees rely on the size of the transaction, and if you set your fee to low, then it might actually get more expensive because there are a lot of dust payments. Am I wrong? If not, I would like to find out, if there is a wallet where you can set your own tx fee. Right now I have Jaxx, which allow me to set 3 different types of price/speeds, but seem to me, that it isn't working probably, because the fee is actually the same.

Have anyone experiences with other wallets, where you can set the tx fee yourself?

sujonali1819

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Recently it is the big problem for transection.Few days ago coinbase increased their transection fees. and blockchain dont accecpt now multi transection in one time.its is affecting on the people for transection.

AjithBtc

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As the price increase happens, so will be the transaction fee. Nothing to make this an big issue, because the fee always has an relation to the bitcoin price movements. These days more users have started to use it as an investment rather than a transaction asset.

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Quote from: mrjakel87 on June 11, 2017, 11:08:08 AM

thanks for answer. But cryptocurrency have no future if they take 25$ to transfer 500$?? A "normal" bank would never ever take that amount

Yeah, it's a lot. Stop making bitch threads about fees, because there are about 100 of them at any given time. But I agree with you, definitely. I don't want to spend $8 to send $75. That's insanity in my opinion, so you know what? I'm not spending bitcoin for now, and I'm not sending it anywhere either. Going to go into the accumulation phase of my bitcoin career.

SMDCM

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Do you have any exchanges in your own country? Normally if you use an exchange that verifies your identity by passport etc, fees are nominal and around 0.85%

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