Topic: What happen to bitcoin fees continues increased.? - page 2. (Read 1378 times)
Well it is really increasing sort of i do have a transaction lately i do transfer a bitcoin to another wallet so that i could do buy a load for my mobile network then the fee is greater than my amount of bitcoin that ive sending. Thus now unlike before the price is we cant really feel it but now it is really big and also it really hurt us a lot, though the thing is you should send bitcoins in big transaction.
If the fees will continue to increase then a lot of people will get mad for that because they are here and using bitcoin because of the fast transaction and also cheap fees and if the fees will continue to get more expensive then they will think for transferring from bitcoin to another good coin with better and more affordable fee for every transaction.
if alts which cheap in transaction process can be convert directly to a local fiat maybe it can be possible but as long as btc is the main crypto which can be easily be exchange to fiat so we cant do nothing but to wait for any solution from the core on how they can minimize the fees. As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.
From what I have seen, the fee have nothing to do with the exchange rates. When the exchange rates were below $1,000 per coin in March, the average fee was around BTC0.0001. And this increased to BTC0.0010 to BTC0.0015 when the exchange rates increased to $4,000 per coin.
If the fees will continue to increase then a lot of people will get mad for that because they are here and using bitcoin because of the fast transaction and also cheap fees and if the fees will continue to get more expensive then they will think for transferring from bitcoin to another good coin with better and more affordable fee for every transaction.
As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.
From what I have seen, the fee have nothing to do with the exchange rates. When the exchange rates were below $1,000 per coin in March, the average fee was around BTC0.0001. And this increased to BTC0.0010 to BTC0.0015 when the exchange rates increased to $4,000 per coin.
As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.
I think the bitcoin transaction price still makes sense with the number of bitcoin requests.
I personally do not feel the difficulty of the increase.
I personally do not feel the difficulty of the increase.
Well I think the fee for the transaction is good for me and I think that it is affordable for us especially at delivering with high price. For example I'm to transfer .1 btc and the fee for that let say .001 btc. I think that it is affordable for me. Can I ask what is the fee before? I just known bitcoin for about months.
What? 0.001 transaction fee to transfer 0.1 Bitcoin to another account. That is quite lucky for you. I am paying nearly 3 times that. But I think that is partially because my address has a high number of inputs. It is past time to fix that. Anyway forget about the amount that I pay, even 0.001 Bitcoin is a high price to pay. Do you know how much 0.001 Bitcoin is? It is around $4USD. Compare this rate with the amount you are paying to transfer 0.1 Bitcoin worth of fiat from one bank account to another. You are barely paying anything for a bank transfer. It is a fraction of the cost that you are paying for Bitcoin. The fee was much lower before. Then we launched Segwit to fix everything. Unfortunately, this only seemed to aggravate transaction fees.
It is because of Bitmain and its constant promotion of Bitcoin cash. Bitcoin cash is becoming much more profitable to mine when compared to Bitcoin. Large numbers of miners are switching their mining power over to Bitcoin cash. This is becoming even more convenient to do especially since Antpool launched its “pool switcher”. Basically, miners can switch from either pool depending on mining profitability. This is causing massive fluctuations in hash power. It is a bit ridiculous. Before it was Bitcoin cash which had lost all of its hash power. Now, we are witnessing a massive change in power. I hope prices drop. That was the entire purpose of launching Segwit. For now, that plan has backfired.
Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..
Nah I would rather pay the high fee than to switch to your bitcoin cash.
The fee is still reasonable for me as I understand the situation. The blockchain is too congested as many transactions happens every minute and the miners are getting less over time. And of course bitcoin's price is geting higher and in return of that the high fee.
Good topic. This is one of the things that I am concerned of as of now. If you look and observe it closely, the Bitcoin fees is gradually increasing. What is scary about this is that it can drag the number of bitcoin users down because they will be discouraged of it. With that, the lower users we will have, the lower the demand will have. And we all know that the lower the demand, the lower the price will be for the Bitcoin. The value of Bitcoin in general will decrease and other cryptocurrency may increase it's value against Bitcoin.
Fees is high because of high demand that eventually reflect bitcoin growth also so that only price increasing almost double so for me fees is quite fair as long as bitcoin value increasing .
The fee you pay for each transaction is set at a certain percentage of the btc price. As a result, as the btc price increases, the fee will be increased accordingly. For Newbie members, they do not really agree with this fee, because the tradition they make are usually quite small and the fees they pay are not fair.
As long as the amount of Bitcoin I send does not decrease much, I will tolerate a small or large fee. The bigger the fee, the faster our Bitcoin delivery will be. So, this does not matter. And usually, I convert BTC to DOGE, then just send it to avoid a large fee.
The fees of bitcoin continues to increase i think it is greatly influenced by the value of bitcoin that now keeps moving at a high value or bitcoin price it's at increasing price from before, of course it will affect bitcoin fees i guess. Just as the bigger what we get the greater the cost to be incurred, it is relatively happening to life as well in general.
$2 for a $20 transaction seems too high as of the moment. And it doesn't get confirmed as soon as I want it. If it's true that some of the miners are transferring hash power to bitcoin cash, then that could mean even slower processing for bitcoin transactions, which is not good at all.
Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..
I really don't like the high transaction fees in the bitcoin. It really pissed me off because I can considered it as an expense. I hope the transaction fee will become low. where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..
It means that being a miner is going to be extra profitable over the long run. Picking up extra transaction fees while the price increases must be nice.
Really makes me want to consider going in deeper with mining Bitcoins. Lots of potential here, especially with other alt currencies as well.
Really makes me want to consider going in deeper with mining Bitcoins. Lots of potential here, especially with other alt currencies as well.
Fees could be changeable also because of the higher price of bitcoin.. We can't just complain about it for we also benefited by increasing price that even our hold bitcoin also increase the same time..
If it becomes like this as always maybe all of people suffer for this and probably all bitcoins user maybe switch to other altcoins that pay lower price than bitcoins even me also
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