Topic: We Don dey enter halving and fee is getting higher (Read 212 times)

I don read your comment and I come find out say na true you dey talk for here. fee hike na normal thing wey we know say e dey happen and e no dey last forever that is to say e go still go back to en normal place but this feel hike get advantage and disadvantage, just as you talk say e dey make people to hold their coin because of say the Gas fee too much this na the advantage but the disadvantage be say if you sell when the fee dey high your money go short waiting no proper and you no go enjoy am that is if you get pressing needs and you no get means other than to take your investment. na waiting make e dey good to get other source of income so that you no go touch your investment though some people even if they get source of income they go still touch am.

Fees getting higher? Ofcourse it's expected and we should sort out means to handle our path. Halving go make every body sabi the market wella because most people de only concern when the bull season comes. E de better make we begin acknowledge the fact say losses go later turn around to profits if we fit maintain our balance and lane. We no fit predict the next events for the market, we just de follow up jeje because we come make better earnings and we no come here come play.

Na your money and you fit do as you please but telling oda persons to change deir personal wallet address to exchange address so dat dem go fit easily exchange deir weekly payout no make sense. First, e no good to keep money for exchange, remember say if e no be your keys no be your coins. Also, you no suppose to dey rely on di signature campaign alone for your source of income, look for oda means. Dis issue of high fees na temporary problem and if you check di mempool lately, di activities of ordinals and runes don dey reduce small small.

Any possible means to minimize the high rate of transaction fee is buyable and I don't know think if both whether Short term or long term bitcoin Investors will internally choose to pay high fees when there's a medium to minimize the cost.
But guess what!!!! Right about investment like this, aiming on how to pay lower transaction fee such as to have your funds in the centralized wallet exchange in other to cut the transaction fee is not a primary aim but how your assets can be hold safely right in the wallet.
I believe we all know the risks and implications of having our bitcoin assets saved in the centralized exchange? If you don't hold your keys, then it's likely not your coin meaning there's Possibilities by which investors who have their funds on the centralized exchange is liable to lost them.
Hackers can invade, you can easily lost access with some tendencies of unrecoverable so as much you can be situated on the right target for the government to have you on track.
With all being detailed I hope we understand the risks on exchange?

Sometimes ago I read on this related topic in the bitcoin local board Short term investors feeling cool with the centralized exchange
There we can as well read similarly on others opinion on this same short term Investors having their assets on the centralized exchange wallets.
So to me it's not how quick and urgent you want to sell your coins that should prompt you to have your funds in such centralized wallet.
It can take a minute of time for hackers to invade your wallet while you hope to sell that coin in the next hour.

My advice is that let's not take out of greeds not to pay a specific service fee and get all those valuables lost on the way. It's important to have reliable security source than going on security terms of roaming agents hunting to hurt their victims.

Omo this fees really no be small thing and many of us for here wey de use non custodial wallet go de face this challenge and dem fit no know the way out and i believe say dem no go wan spend that kind fee to spend their bitcoins receive from campaigns here. You really bring a good suggestion for those who do not hold their bitcoin and does not plan to hold should request for a change of wallet address from their campaign manager and switch to an exchange address and that way they can easily trade their bitcoin and will not have to spend gas fee.

I never witness any halving since i started crypto but from wetin i read and wetin i hear i been think say when halving come the transaction fee go reduce the more but i con de see say the transaction fee con de increase again abeg person fit help me explain why the fee de increase? 

 The fee hike issue don put plenty users for one chance and don spoil some plans because even as the halving come, we no expect say fee go climb reach where e go but as @Sexy tok e don dey come down. I no for mind say e dey go up if to say BTC price folo am like that but e come choke say instead of increase, nah drop e dey drop.
 Fee hike nah normal thing wey dey follow halving season is for body but good thing say e dey temporary. The funny thing with this particular fee increase be say e kuku force people to hold Bitcoin as against their initial plans.

I know say this high fee don worry plenty piple for this Forum especially those of us wey dy use this our campaign moni as the only way to take survive as BRAINBOSS talk say make we try get side hustle like option B, well e don happen so we go use this one take arrange how we go dy get moni outside from our campaign pay wen next e happen.
I been think say this halving go make things easy for us like the fee go low then BTC price go high in our favor but nothing change from how I see am except for the high fee, I just hope for am to come back to normal. Like this now the high fee don force many piple to hold.

Normally this mempool congestion matter Na normal thing especially when e don dey reach public seasonal holidays or any event wey dey very significant. Just line the halving, this Na time wey many people go either dey buy or sell their Bitcoin because of to buy altcoins, because it is believed that after Bitcoin halving come the bull for altcoins, but some persons still dey buy more because of the dip wey fit occur to maximise their profit. If person use money wey e dey get from signature campaign take add up to em DCA investment no be bad thing from this period, because later for life n Naim the thing go come dey sweet. So when e reach the dips make we no loss interest in buying more oo.

Yes transaction fee don high and people sopos no do any transaction this period till mempool don come down. People sopos know say as the having don finish the reward of miners don devide by two and the miners don dey charge high to meet up. and more investors dey troop in naso the miners dey increase the transaction fee. Normally the price go surly come down. Sometimes I just dey wounder why people dey always rush to sell bitcoin and na this thing they make miners get joy. if people hold on there fund for wallet till dis matter don come down every thing go normalise.

I think this same thing don happen during that time them launch ordinals (ORDI) naso mempool been also dey congested and transaction fee come high. When people see say the transaction fee don high dem hold on for the rate of transactions to come down. because the more frequently people dey rush make their transaction be the first by increasing their sat/vbyte, naso them dey make transactions fee high. So in summary of everything wey I dey talk when time like this come, make people no rush to dey sell untill transaction fee don low

For the side you dey talk about weekly campaign money, E also dey important to dey get emergency and reserved fund for your account aside bitcoin holding sothat when things like this happen you go need to use your reserved fund to settle the bills otherwise if you sell the bitcoin at this point, you go loose alot of money to gas fee. Emerging if them pay you $40 and you go use like any of this fee for this table below, tell me wetting you gain?

Dis no be the first time wey mempool fees dey high like dis but dis time around e be like say e come with the halving wey happen just recently. Collecting your payment in exchange now go come with plenty advantage than for you to set collect am for your personal wallet because of high transaction fees. E dey very risky to dey use exchange address to collect payment as anything fit happen at anytime wey go make you lose your funds. One source no be dependable source of income that’s why e better make you get oda means wey go dey help when issues like dis arises from your payment through signature campaigns. As e dey be now sef, person no fit tell when dis prices go come down that’s why that alternate source of income dey very important too.

No be lie, dis ongoing high transaction fees na serious matter for people wey wan sale dem Bitcoin, as di mempool still de congested, so di best thing na to find alternatives means to avoid di fees. Di options wey our people don bring for dis thread go work, so wen di transaction fees normalize dem we go come back to business as usual, I hope say Bitcoin developers go find a lasting solution to dis congestion wahala wey de affect di usage of Bitcoin as a digital cash. Lastly, for dis bull run, if person get oda sources of income, e no good to sale your Bitcoin now, as e go be premature selling.

We no suppose depend on signature campaign only before we fit get food to chop wey be say we go need to dey exchange our Bitcoin weekly, make we dey try get other side hustle on the side wey be say we fit they get money for regular choppings incase fees wahala come be like this. Although using an exchange address na the typical solution wey everybody dey run to but e no too good. To begin
with, exchanges are centralized entities and you no suppose to dey trust them because they fit throw you under the bus at anytime. Many People dun lose their funds or got their account on exchange suspended because dem received Bitcoin from a flag address from signature campaigns.

As mixers were been attacked, e get some people wey notice say dem need verify their source of income before dem fit regain access to their exchange account and all this one for make you lose your money if you fit prove wetin dem ask you. You fit still lose your money because exchange change their address without you knowing (people dun complain about this too for the forum). Not meeting the minimum deposit or deposit not coming on time fit also become a problem. Wetin you fit also dey do na to dey hold some fiats for your account so e fit help you out and you no need sell BTC to Naira whenever you need cash. You fit still hold some stablecoins too as our Naira dey very unstable for now.

Na good thing be dat. So dat people no go pay high fee dey do transfer. Na like dis many people do last time when the fee go up well well. And as di fee come down again dem come dey change am back. Plenty people were even receiving it from Litecoin too and other altcoins until the period was over then everyone return back to non custodial wallets again and this one wey di matter e don start again na dat the same thing go still happen. Really do fee nowna die. E too big.

I like this matter wey u carry come, plenty people go Dey here wey go Dey face dis kind problem, and dem no go sabi Wetin dem go do. Like me now, Dey get one time wey gas fee go up well, I been message my manager say make him change my wallet for me, because mostly if I collect money, I get percentage wey I Dey spend, and dem get some percent wey I Dey invest, so if I don commot d one wey I Dey use finish, then I go send d remaining one go my normal wallet. So anybody wey no Dey save him signature money, d best thing na to message manager say you wan change wallet to avoid spending money on transaction fee.

But we will still be back in the loop as the 3 inputs will still need some fee to confirm it's  transactions  to a single input and this is suggested  when the mempool  is quite low or is there any way to do this without  having to pay the fee?? .... just asking .

If you want to spend it immediately when you receive it, I will not against this.

If you do not want that and you want to hold it on your noncustodial wallet, you can still use ViaBTC free accelerator. But if you have many UTXOs, you can spend it with 3 inputs to 1 address at a time and use ViaBTC to accelerator with 19 sat/vbyte as fee rate.

Signature campaign is in segwit version 0 address and that is the reason for my reply. With 3 inputs and 1 output, the size will still be less than 500 bytes.

I say make this information come our community because some people may not get the idea of what I want to say and some persons will also have the idea, for this our community many new faces they come in to the community so this matter they really need am, the matter be say, is like we dey enter period of halving and transaction fees have started going up, if you know say you are not saving your bitcoin you receive from your signature, I will advice some of that is in campaign to change wallet address to that of their exchange so that if their  weekly payment comes it will be easier for them to exchange am, but if you know say u dey save your Bitcoin you better leave am their with your non-custodial wallet but if you dey exchange weekly or bi weekly is good to change your receiving wallet.