Topic: Transaction fees on BlockChain are so high - page 3. (Read 464 times)
I noticed this as well,I think it's because the network is getting congested,when bitcoin price was low,many people just kept their bitcoin in their wallet but now that the price has woken up,many more transactions are being made,many new investors buying and some old investors selling.. This fee is small compared to what we had in January/february period,you could pay $25 for a transaction back then.
a days before i was giving 0.30 - 0.60$ 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
Check these picture to understand what i'm talking :
https://imgur.com/a/6sjgg3q
number of transactions lets the miners to choose those with higher tx fees, which is increasing your tx fee. However you can always go for average one and just wait longer for confirmations
There has been a very small increase in the transaction fee, and it is within the tolerable limits. Two weeks back, I was paying as low as BTC0.0001 as the transaction fee. But yesterday, I had to pay a fee of BTC0.0005. Even then, it is still much better than the situation that we had during the end of 2017.
Now in coinbase the fee of transaction is 0,93 $ so iadvice you to use coinbase because the transaction fee of it is low than blockchain
a days before i was giving 0.30 - 0.60$ for Transaction ... when i send big amount it goes up to 10$
if when you are sending larger amounts the wallet suggests a higher fee than before the only thing that is telling us is that you have a lot of dust in your wallet, probably all the tiny payments you received from signature campaign and other micro payments. and that is normal and it doesn't depend on network status (unconfirmed transactions,...).
you are simply forced to pay more because you are taking up a huge space on the blockchain thanks to your big transaction!
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
Check these picture to understand what i'm talking :
https://imgur.com/a/6sjgg3q
it's because the bitcoin price is high, you can choose another way. if you want to send money better transfer to doge or other altcoin which cost lower.
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
Check these picture to understand what i'm talking :
https://imgur.com/a/6sjgg3q
All the explanation you need is in those two links:
https://blockchain.info/pl/unconfirmed-transactions
https://btc.com/stats/unconfirmed-tx
You can see that there are at present more than 20k unconfirmed transactions, and since only 2k transactions on average can fit into one bitcoin block, it makes greedy miners choose only high fee transactions. The second link shows that you currently need to pay 100 satoshi per byte to make sure your transaction gets soon included in a block.
It is all undoubtly related to the recent slight bitcoin price increase, and is related to the fact, that any change in bitcoin transaction volume makes the bitcoin fees scyrocket. It is the proof that bitcoin is (unfortunately) destined to die if the devs don't do something to help this problem. Imagine the fees when bitcoin hits $20k mark again!
And don't start your talk about LN please!
a days before i was giving 0.30 - 0.60$ 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.
No one have an explanation for this ?
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
Check these picture to understand what i'm talking :
https://imgur.com/a/6sjgg3q
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