Transaction fees on BlockChain are so high - page 2.

stayeduptolate

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

I also reassure this news that the users are now facing a high transaction fee while transacting in exchanges and I guess this is exhaustion of consumer rights and may be this is because of the lack of regulating body over bitcoin that there is no authorised regulating body over bitcoin and therefore who are over bitcoin who are watching bitcoin transactions may be exploiting consumers and charging very high transaction fee to them so in present scenario the legalisation and centralisation of bitcoin is very much necessary world wide.

VitKoyn

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Quote from: Vanester2014 on April 29, 2018, 01:59:28 PM

I think this problem was already been a long time that no one can answer i was realy hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchnager with a low fee but today the fee is too expensive.

You are wrong, this question had been answered a lot of times before here in the forum, the price of Bitcoin transaction fees are depending on the price of Bitcoin and how many transactions are still pending on the mempool (unconfirmed transactions). Haven't you tried creating transactions this past few weeks or last month? because I can just send Bitcoin to an exchange with 10 satoshi per byte without waiting for a very long time for it get confirmation because there are only 1000+ unconfirmed transactions at the moment, I also use segwit Bitcoin address for cheaper fees. I'm surprised that some people here still don't know that we can now pay transaction fees less than $1 in Bitcoin.

bjmpoker001

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

What transaction fee ? what wallet did you use ? because different wallet may have different transaction fee.
if you use exchange wallet, the cost of your transaction fee will be higher. i think you should consider use the other wallet.

AlexAtom

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

not all blockchain have a high transaction fee. look the litecoin, it has a low transaction fee.
maybe what you means is bitcoin. bitcoin transaction fee is very high because bitcoin price.

onnz423

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Quote from: angelakrasnova on April 30, 2018, 09:37:37 AM

Now the prices for transactions have changed greatly, if we compare prices now and the past, I can say that now transactions are much cheaper

This is temporary, over time bitcoin fees are likely to decrease as batching, and segwit adoption increase. There are also more and more stores opening up lightning channels that reduce the fees to almost nothing.

angelakrasnova

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Now the prices for transactions have changed greatly, if we compare prices now and the past, I can say that now transactions are much cheaper

Xester

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

This is one of the problems we are facing on bitcoin. Transaction fees when sending to an external wallet is huge and it is really troublesome. But these problems are soon gonna be out of the picture when the lightning network is already implemented. Lightning network guarantees faster transaction fees with a very low transaction fee.

hakertajniak

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

what coin did you talking about ? and what transaction fee ? is it the exchange tx fee ?
if exchange fee, that is the policy of exchange itself. just try to find other exchange if you think they have high fee.

squatz1

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Quote from: bitperson on April 25, 2018, 10:37:29 AM

Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority.

Bitcoin transaction fees don't depend on the amount sent, just on the length of the transaction (and any premium the sender might wish to pay so as to ensure that the transaction is confirmed quickly). A 0.001 bitcoin transaction comprising two inputs will cost about twice as much as a 1,000 bitcoin transaction comprising one input.

This right here, I haven't seen this crazy change in tx fees so I would assume that you're using two inputs (you have coins in two different addresses) and the problem here is that you didn't notice this. Always make sure to adjust the amount of fees you're going to be paying, as most wallets let you set your own fee which is different from the one they recommend to you.

So there is that, don't let these wallets mess ya up!

TTITA

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Quote from: Vanester2014 on April 29, 2018, 01:59:28 PM

I think this problem was already been a long time that no one can answer i was really hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchanges with a low fee but today the fee is too expensive.

I think even if it will charges about 20,000 satoshi for a single transaction, it still cheap. https://btc.com/stats/unconfirmed-tx has been giving good info's about suggesting transaction fees by unconfirmed transaction updates at the market currently. As I usually do, I make a transaction with a fee of about 10k/20k satoshi and takes 10 min max 30 mins only to get confirmed.

NeuroticFish

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Quote from: Vanester2014 on April 29, 2018, 01:59:28 PM

I think this problem was already been a long time that no one can answer i was realy hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchnager with a low fee but today the fee is too expensive.

The transaction fee is very low. Very very low. Really.
But if you use a 3rd party service to handle your money, you rely on their automated tools to calculate your fee, which may not be optimal.
I pay some 1-2 satoshi per byte. That's 2-5 cents per transaction.

How I do that? I use SegWit local wallet on my computer, I follow https://btc.com/stats/unconfirmed-tx and I keep my bitcoin as much as possible consolidated (without too many inputs).
And then the fees are low.

Of course, it's easier to complain than act, but that's another discussion...

Vanester2014

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I think this problem was already been a long time that no one can answer i was realy hoping that the price of transaction fee got lower again just like before when i first join in bitcoin trading. Before i can send even 10,000 satoshi to my wallet or exchnager with a low fee but today the fee is too expensive.

3acaga

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Hi, I also saw that the price for the transaction increased. But this is due to the increase in transactions and the increase in the price of the bitcoin itself.
It will be interesting to me to see when bitcoin becomes 20-50 thousand dolars, what a stupid person will make transfers through bitcoin with such large commissions for the transfer. Grin

P.S. If there are no changes, I think that bitcoin will start to die this year.

rumexx

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The fees on blockchain and timing to complete transaction has been high and too slow respectively. These two are one the major disadvantage of Bitcoin. Scalability is a major issue affecting the fees paid for blockchain and the time also.

CryptoWorld87

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I think its because you send it into deferent bitcoin wallet or because you pick the highest price to send the fastest transaction you want to recieve your bitcoin func.

Titanos

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I think it depends on the wallet you use and network saturation. I made a transaction through BlockChain 3 days ago with only 0.4$.

Rubick99

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

Bitcoin fees transaction is depending on Satoshi, because right now bitcoin expensive. Long time ago when bitcoin just $200 when you send your btc to other address, you just need to pay a fee under $2.

stayeduptolate

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Quote from: QreNZi on April 25, 2018, 10:08:57 AM

a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?

Check these picture to understand what i'm talking :

https://imgur.com/a/6sjgg3q

Yes,dude I also faced this problem that the transactions fee of the block chain in exchanging BTC is increasing continuously and I guess this could be because of lack of governing body over BTC, there could be some people who regulates the transaction fee and they might be increasing it in order to recover some sort of lost occurring due to deflation in the valuation. As soon there will be some regulating body over it and once it will be centralised then everything will be regulated and there will no such issue of such high transaction fee.

irenegaming

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Quote from: QreNZi on April 25, 2018, 10:19:30 AM

No one have an explanation for this ?

The explanation is pretty easy for this. The transaction fees works on the amount of transactions happening at any given time on the bitcoin network. If there are huge number of transactions than the transaction fees is high and if there is lesser number of transactions than the transaction fees is low, just simple as that.

ballerin and giroud

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The cost of expensive transactions indicates that in the future bitcoin prices will continue to rise. All bitcoin holders will not want a loss right? But, do not worry because the lightning network to be one solution to solve the problem of high transaction costs bitcoin.

Topic: Transaction fees on BlockChain are so high - page 2. (Read 412 times)