Topic: Very high fees - bitcoin fails - page 2. (Read 292 times)

You an also complain about high fees with Ethereum as well? So good BTC and Ethereum as well?

Oh wait, those two are the top crypto, and you might missed the boat in today's bull-run, that sucks.
When everyone around you is making money, you are going to be left in the closet.

Altcoins exist to be pumped and dumped so that a small group of experienced traders can empty the pocket of the newbie masses. I'm always looking for someone to change my mind with more than one reply!

Looks like someone forgot the reason alts exist as well as the Lightning Network.

While you have some BTCs, please distribute them to us. We'll take very good care of them.

devs 2015 promise was new BITCOIN code to make bitcoin fees go back to sub penny prices.
instead they 4x legacy to make it appear their new code was cheaper(false pledge complete). meanwhile their new code increased from pennies to dollars and legacy increased even further using their multiplier.

this was not 'a make fees cheaper game' after all. it was a make old code more expensive to promote utility of new code.

this whole game of making bitcoins fee's go up is purely done to advertise other networks users should use instead that are not as secure. dont even have a blockchain. dont even have a network wide verification system. but do offer cheap fees.

its the old. dont transact with gold as thats expensive to handle. lock it up in our vaults and we will let you play with bank notes in our new banking system.

..
if a government in 2015 said they know a 1% sales tax was alot for bananas and they will make new gov policies to get that down
then in 2017 they instead made the plain banana tax 4% while offering a new govbanana brand at 1%. saying look our new govbanana is 4x cheaper.. would you buy it and accept they fulfilled their promise.
no?.. of course not

what if they then wanted you to stop handling plain real banana's and instead lock them in veg warehouses. and and play with millibanana's on a vegan only virtual market. where the millibanana transactions were 0.001% whereby you also need warehouse managers permission to get your real banana's out when you dont want to play anymore.

i personally just want my real plain banana to be able to be traded at 1% or under again.. not this gaming stuff that is trying to imply real banana's should not be held.. as thats how the gold:bank-note game was played in the 1900's. and we all know why we moved to bitcoin to escape bank-note game

This doesn't solve the problem, nor does it help Newbies. Bitcoin scaling is bad, high fees are bad. At the end of 2017, fees reached up to 1000 sat/byte, right before the Bitcoin price started plummeting.
I can no longer send someone $10 worth of Bitcoin to try it, and I consider that a serious shortcoming.

I use LN whenever it's accepted, but opening and closing channels also costs on-chain fees. I'm mostly using BlueWallet (custodial LN) and Phoenix Wallet (non-custodial LN) now, and both of them cover the cost of opening channels while charging only a small amount. I don't think that business model is sustainable when fees go up, and I wouldn't want to use LN when opening and closing a channel costs $50.

Bitcoin can't handle more users as long as it can't handle more transactions. All those people "trading" Bitcoin on exchanges without withdrawing to their own wallet aren't real Bitcoin users in my book.

Back in 2017 I said as a user I don't care how Bitcoin scales, as long as it does it. Segwit helpt a bit, but I think the Bitcoin price drop had a larger effect. Either way, scaling takes far too long. I'm now using shitForks for some small payments. I'd love to use Bitcoin for it, but it's not possible.
But as long as exchanges use bad practice and pay thousands of dollars on consolidation fees, block space keeps getting wasted.

The fee issue you are talking about it usually happens whenever the bitcoin transaction network gets crowded because there are more people willing to transfer their coins faster than other people and due to the nature of this network the transaction will higher fee gets confirmed faster. However, the fee are maybe high if you are only transferring a few bucks of bitcoin but if are going to transfer more than 1m bucks using bitcoin, the fee are still so good for you because you can transfer 1m dollars by paying only 10 dollars. However the fees can decrease once again when the price stays stable and we see less urgent transactions in the network.

Lightning is not the solution. It was a delaying tactic from the part of the miners to show that they are doing something to address the scalability issue. The fee in terms of Satoshis is also going up, since the user base is expanding. It is now considered normal to pay a fee of $30 or $40 for a single transaction. Within the next 3-4 years, I expect the Bitcoin prices to go up by around 5 times, and similarly the fee may go up by 10 to 50 times. So don't be surprised if you are asked to pay transaction fee in excess of $1,000 in the distant future.

For OP, why not use the lightning network? Agree with mk4, layer 2 soon will be the solution.
And addition, there are some ways to avoid such high transaction fees, just like consolidation of your small inputs from your Bitcoin wallet, it may help to save transaction fees.
If you check the thread of LoyceV, it shows how consolidating small inputs works here: [Jan 2021] Fees are low, use this opportunity to Consolidate your small inputs!.

What's the matter with you?
Bitcoin transaction fees are still lesser than Ethereum. Transaction fee is paid in Satoshi, you still can transfer Bitcoin by paying 12sat/byte, the time taken will be 3 hours. Do not look into the USD value, check the amount of Satoshi you are paying.

Thats normal. Wait for quite some time, lightning network will change your mind once its fully up. If that's not good enough for you then feel free to buy other altcoins on the market but fees also are not that great if you choose eth related tokens. Maybe huy some on Binance smart chain projects. Bitcoin will still stay the same years from now.

Good bye (and good riddance).
Bitcoin scales just fine. Nobody is forcing you to use it, and we really don't care if you leave.  There is no need to announce it.

You do realize that Bitcoin didn't have high fees since the beginning, right? It mostly only started since the 2017 bull run. Also, transaction fees are through sats, not in USD, so a higher bitcoin price would mean 'higher' transaction fees. Bitcoin simply grew too much in a short timespan than the developers lacked time, and that layer-2 solutions such as Lightning aren't THAT ready yet.

After over 10 years of BTC, developers did not manage to make BTC scale.
Wtf is up with current high fees?
This sucks. Good bye.