What is your solution to pay less Fee ?

Saint-loup

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Quote from: _act_ on November 27, 2023, 01:13:10 AM

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Hacking, scamming and Ponzi schemes are precisely what nocoiners and gold bugs blame Bitcoin for. So I don't think it's specific to altcoins unfortunately Undecided

Bitcoin is maybe the highest secure blockchain but it's not safer than gold or cash money while it takes huge fees for every transaction and consumes much resources. And please don't say you can use Lightning Network if you want to save transaction fees because it's wrong, almost no platforms, merchants or crypto users accept LN payments. You talk about campaigns but which one pays its participants through LN nowadays for example?

dzungmobile

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Quote from: Myleschetty on November 28, 2023, 04:03:52 PM

Using a Bitcoin wallet that provides the custom transaction fee is not totally the solution if it does help with transaction confirmation.
I believe the wallet that should be used is bech supported.

Non custodial
Open source
Coin control feature
Segwit Bech32 supported
and more if you want more like privacy.

You can choose wallets with different filters https://bitcoin.org/en/choose-your-wallet from basics to advanced/ experienced.

See https://en.bitcoin.it/wiki/Bech32_adoption

Myleschetty

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Quote from: Jon_Hodl on November 28, 2023, 03:11:18 PM

First off, you need to use a wallet that gives you the option to set a custom miner fee. If you are unable to set your own fee rate, then your wallet will do it for you which will always be a problem because they tend to be imprecise.

Using a Bitcoin wallet that provides the custom transaction fee is not totally the solution if it does help with transaction confirmation.
I believe the wallet that should be used is bech supported.

Quote from: Jon_Hodl on November 28, 2023, 03:11:18 PM

Second, you need to avoid sending bitcoin on chain if you are able. There are a multitude of tools and services that enable you to send bitcoin on a second or even a third layer.

If you avoid the use of on-chain Bitcoin and choose to use side chains then what you going to have is a token that is not the real BTC. An example wBtc.
What we need is Schnorr signatures and Taproot.

TakeItEasy

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Quote from: Agbamoni on November 21, 2023, 02:48:25 PM

Currently there is no magical way in running away from paying the fees showing on your wallet. You can use the viaBTC free accelerator as suggested by so many, but you need to remember that you have to set a lower fee before you use it. It works to accelerate the little fees you choose and not reduce the fee. Which means if it's going to take you a week or days to get your transaction confirmed the ViaBTC accelerator will reduce the time for you.

Can we use it for the Ethereum too? or it is only usable to the BTC? Because I also need some fund to withdraw to my trust wallet but the problem is when I try to transfer it from any exchange it requires a lot of fee which I don't want to pay because the Gwei is that much high so I can't prefer to send this Ethereum from Binance to my wallet.
Is there any other way in which If I send 10 USDT to that exchange and trade in that and in the return I would receive 10$ in the Ethereum.

Although 2-3$ if the gas fee I will manage it, but more than that also requires in the Binance exchange So i leave it due to this problem having a high fee for just some dollars of withdrawing from it.

DVlog

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Quote from: LogitechMouse on November 27, 2023, 02:52:27 AM

Quote

Re: What is your solution to pay less Fee ?

- Use ViaBTC for transaction accelerator.
- Use other coins.
- Don't make any transactions at all.
- Wait for the Ordinals hype to subside.

The 2nd & 3rd ones are somewhat correlated because if you don't want to make any transactions using Bitcoin, you will convert it into altcoin and then make a transaction using that one. I tried using ViaBTC once already, and it's helpful because they accelerated my transaction when the current fee was twice as high as the one that I put in which is obviously my fault. Lastly, Ordinals is the reason why the transaction right now is at its peak (or at least it's high). Just like what happened with NFTs, and ICOs, this hype will subside thus, transaction fees will go lower as well.

I need to learn about this ViaBTC transaction accelerator. I usually try to avoid any transactions when the network is congested. Sometimes i need to transfer my bitcoin to the exchange and i am a segwit user but the transaction fees are pretty insane here as well. Using other coins is a good option but i need to have my funds in the exchange first to do that.

This Ordinals hype is going crazy and till now i am not sure why there is so much hype about it. People are earning more bitcoin by using that?

Jon_Hodl

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First off, you need to use a wallet that gives you the option to set a custom miner fee. If you are unable to set your own fee rate, then your wallet will do it for you which will always be a problem because they tend to be imprecise.

Second, you need to avoid sending bitcoin on chain if you are able. There are a multitude of tools and services that enable you to send bitcoin on a second or even a third layer. This is just one of the many ways that bitcoin is scaling. An important part of how bitcoin is scaling is with the lightning network and the game theory of the lighting network is all about bidding down the cost of sending a payment rather than bidding it up which is how on-chain payments work.

Additionally, when you send an on-chain payment, you need to be the one who decides how many UTXOs you send because otherwise you will end up using more UTXOs that you otherwise would. This manual selection is commonly known as coin control and it gives you more manual control over how you spend your bitcoin.

If you use a wallet like Sparrow Wallet and use your own custom miner fees and you manually select which UTXOs you use to create transactions, then you will naturally spend less on miner fees than if you don't use these tools.

I hope this helps you to pay less fees. Best of luck.

LogitechMouse

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Quote

Re: What is your solution to pay less Fee ?

- Use ViaBTC for transaction accelerator.
- Use other coins.
- Don't make any transactions at all.
- Wait for the Ordinals hype to subside.

The 2nd & 3rd ones are somewhat correlated because if you don't want to make any transactions using Bitcoin, you will convert it into altcoin and then make a transaction using that one. I tried using ViaBTC once already, and it's helpful because they accelerated my transaction when the current fee was twice as high as the one that I put in which is obviously my fault. Lastly, Ordinals is the reason why the transaction right now is at its peak (or at least it's high). Just like what happened with NFTs, and ICOs, this hype will subside thus, transaction fees will go lower as well.

_act_

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Lightning network is good with small amount of BTC

Quote from: Saint-loup on November 26, 2023, 12:57:40 PM

I wouldn't say all altcoins have an actual utility as you say, but many of them or several of them at least, are currently more useful than Bitcoin for the main current use cases of the blockchain technology : Web3, DeFi, GameFi, DAO, NFT, smart contracts, dApps, tokens, obfuscation, instant payments/transactions, cheap ones,... It's sad but currently BTC is almost useless for me because of its very high fees and the lack of adoption of the Lightening Network by merchants and platforms.

Bitcoin is almost useless for you? Why not tell your campaign manager not to pay you in bitcoin because it is not useful for you.

Altcoins are useful than bitcoin? Becuase the fall under DeFi, NFT, Web3, smart contract, dApps, tokens, instant payment/transactions, cheap ones? Are you serious. Most of what you listed are what scammers and hackers are using to make money and the recent advanced ponzi scheme are becuase of that

The only point you have is transaction fee. Then do not use bitcoin.

When it comes to utility, bitcoin is far useful. But when it comes to scam and hack, altcoins are mostly useful for scammers.

For fee, you can use lightning network.

Bitcoin is useful to the extent that you can use those altcoins, side chains instead. They are not bitcoin but they developers have bitcoin that they bought and pegged with it.

What about Ordinals and Inscriptions? They are also not done by bitcoin developers but that is part of the usefulness of bitcoin blockchain.

What I see about you is that you are not happy with how the transaction fee is, but bitcoin is far more useful for me. It also has the highest secure blockchain.

Bitcoin is accepted as a legal tender in El Salvador and CAR.

Saint-loup

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Quote from: Coyster on November 25, 2023, 06:35:10 PM

Honestly there are only a few altcoins that has an actual utility, if i am to call; i'd say Monero and very few others, thus it is not strange for someone to use/buy only Bitcoin, i'd rather use only Bitcoin that purchase pump and dump coins.

Having said that, the Bitcoin network is open source, so people basically do not just "trust" Bitcoin, but they verify for themselves. What are the downsides you are referring to exactly, there is no invention without a disadvantage, but Bitcoin's advantages and use cases far outweigh whatever downside you can think of.

I wouldn't say all altcoins have an actual utility as you say, but many of them or several of them at least, are currently more useful than Bitcoin for the main current use cases of the blockchain technology : Web3, DeFi, GameFi, DAO, NFT, smart contracts, dApps, tokens, obfuscation, instant payments/transactions, cheap ones,... It's sad but currently BTC is almost useless for me because of its very high fees and the lack of adoption of the Lightening Network by merchants and platforms.

Coyster

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Quote from: Saint-loup on November 24, 2023, 04:16:08 PM

like some extremist maximalists who don't trust any cryptocurrencies except Bitcoin despite all its downsides,

Honestly there are only a few altcoins that has an actual utility, if i am to call; i'd say Monero and very few others, thus it is not strange for someone to use/buy only Bitcoin, i'd rather use only Bitcoin that purchase pump and dump coins.

Having said that, the Bitcoin network is open source, so people basically do not just "trust" Bitcoin, but they verify for themselves. What are the downsides you are referring to exactly, there is no invention without a disadvantage, but Bitcoin's advantages and use cases far outweigh whatever downside you can think of.

dkbit98

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Quote from: Saint-loup on November 24, 2023, 04:16:08 PM

the fact that most large cap cryptos are more safe and user friendly than Lightning Network.

That is absolutely not true!
Please don't spread misinformation like this again.

USDT Tether is largest cap possible and it can be frozen and controlled by single entity like it was done several times.
BNB is centralized junk controlled by CZ and few of his friends that is even more controlled that ethereum tokens.
I can continue like this all day long, but I won't waste time.

End of discussion for me.

Saint-loup

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Quote from: dkbit98 on November 23, 2023, 06:32:46 PM

Quote from: Saint-loup on November 23, 2023, 05:48:14 PM

What do you mean by "shitcoin blokchains" precisely?

You live under the rock or what?! Roll Eyes

I am sure not going to educate you what shitcoin blockchains are if you didn't learn that since 2017.

Quote from: Saint-loup on November 23, 2023, 05:48:14 PM

Most of solutions in your link are unknown and not used by anybody, while even Lightning Network has some security holes.

This is not mine link, it's Jameson Lopp link, and if Lightning Network have some holes, than shitcoins have abyss or trench of insecurity.

Quote from: Saint-loup on November 23, 2023, 05:48:14 PM

It's way more safe to use a well known, reputed and used blockchain, here since many years than an exotic solution IMO.

No comment.

I'm sorry if I didn't understand what you meant, but since you said "other shitcoin blockchains" I was wondering if you were not talking about all altcoins, like some extremist maximalists who don't trust any cryptocurrencies except Bitcoin despite all its downsides, and the fact that most large cap cryptos are more safe and user friendly than Lightning Network.

_act_

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Lightning network is good with small amount of BTC

Quote from: 2Pizza410000BTC on November 23, 2023, 11:18:42 PM

Currently, the transaction fees have increased tremendously due to the increase in mempool. If there was a system in place to minimize these transaction fee increases, Signature campaign managers would have known and sent Signature weekly payments with a small fee. From here I think there is no system to reduce the mempool.

The mempool is not increasing or decreasing, it can only be congested or not congested which I think is what you are talking about. You can see how the mempool had over 289000 transactions some days ago and the fee was very high, unlike now that it has over 212000 transactions that the fee is lower but not that low. As more transactions are not confirmed but remain in mempool is the congestion that I am talking about.

2Pizza410000BTC

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Quote from: ItsaWhale on November 19, 2023, 08:58:37 AM

Hello dear members of BitcoinTalk

I do use Blockchain wallet to make Transaction as it has lower fee but recently the fees are very high
so i have to pay around 15-20$ per Transaction even if i send 10 $

What is your solution to pay less Fee ?

thank you for your time if you do help me

Increasing Transaction Fees This is currently a major problem for Bitcoin users. Currently, the transaction fees have increased tremendously due to the increase in mempool. If there was a system in place to minimize these transaction fee increases, Signature campaign managers would have known and sent Signature weekly payments with a small fee. From here I think there is no system to reduce the mempool.

Right now I can see the mempool is down a lot. Mempool is currently positioned at 45sat/VB. However, it is expected that the mempool will decrease further soon.

Patrol69

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I really don't see any solution other than waiting but if your transaction is very urgent then you need to monitor mempol regularly because here you can see how much gas fee can be charged for bitcoin transaction. Mempol is relatively low during the period when transactions are usually low and you need to transfer your bitcoins during that time. According to the current mempol you can complete a bitcoin transaction within three to five dollars. If you want to do your bitcoin transactions for less then you must monitor mempol.

Pandu Geddon

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Quote from: ItsaWhale on November 19, 2023, 08:58:37 AM

What is your solution to pay less Fee ?

there's nothing you can do but wait for the costs to fall. and today it seems to have started to decline. still quite expensive but nothing like when you made this thread.
now it's down a bit at around $3-5, maybe if you don't mind you can do it. but if you feel this is still too expensive, of course, you have to wait more patiently.
It seems like this kind of situation has happened several times.

Bitcoin_people

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Quote from: ItsaWhale on November 19, 2023, 08:58:37 AM

Hello dear members of BitcoinTalk

I do use Blockchain wallet to make Transaction as it has lower fee but recently the fees are very high
so i have to pay around 15-20$ per Transaction even if i send 10 $

What is your solution to pay less Fee ?

thank you for your time if you do help me

We can see that the transaction fees of all platforms, including Bitcoin, have increased significantly over the past few days. Where users face many problems to transact and withdraw their funds. Because the transaction free is more than the amount to be withdrawn, for which small investors are in a lot of trouble. Although currently the mempool of Bitcoin transactions has decreased a bit and if you are trading small amount then of course you can trade USD instead of Bitcoin. Moreover, there are some other coins where you can transact with a very low fee, for example, if you transact coins like LTC Sol, your fee will be reduced. As Bitcoins currently have high transaction and over-transaction fees, you can trade with them as an alternative.

dkbit98

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Quote from: Saint-loup on November 23, 2023, 05:48:14 PM

What do you mean by "shitcoin blokchains" precisely?

You live under the rock or what?! Roll Eyes

I am sure not going to educate you what shitcoin blockchains are if you didn't learn that since 2017.

Quote from: Saint-loup on November 23, 2023, 05:48:14 PM

Most of solutions in your link are unknown and not used by anybody, while even Lightning Network has some security holes.

This is not mine link, it's Jameson Lopp link, and if Lightning Network have some holes, than shitcoins have abyss or trench of insecurity.

Quote from: Saint-loup on November 23, 2023, 05:48:14 PM

It's way more safe to use a well known, reputed and used blockchain, here since many years than an exotic solution IMO.

No comment.

Saint-loup

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Quote from: dkbit98 on November 20, 2023, 11:41:03 AM

You can use Lightning Network that is created exactly for this purpose when fees are high, and LN can be used for smaller transactions.
Second option is Blockstream's Liquid Network, that can be used with L-BTC and other tokens on same network.
There are other Second Layer solutions and most of them are listed on Jameson Lopp website:
https://www.lopp.net/bitcoin-information/other-layers.html

Don't use any fake bitcoin tokens of other shitcoin blockchains, or at least don't use them long term.

What do you mean by "shitcoin blokchains" precisely? Most of solutions in your link are unknown and not used by anybody, while even Lightning Network has some security holes. It's way more safe to use a well known, reputed and used blockchain, here since many years than an exotic solution IMO. In addition if people leave Bitcoin to cheaper blockchains or coins it will push Bitcoin devs to find solutions in order to address this problem.

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Quote from: ItsaWhale on November 19, 2023, 08:58:37 AM

Hello dear members of BitcoinTalk

I do use Blockchain wallet to make Transaction as it has lower fee but recently the fees are very high
so i have to pay around 15-20$ per Transaction even if i send 10 $

What is your solution to pay less Fee ?

thank you for your time if you do help me

There is no way as transaction fees and confirmation times are increasing In theory the competition for block space is also increasing and this is a soft fork which is not dangerous but quite a hassle having to delay if the set is low. It is true that this is Market Dynamics but once again this scaling problem continues to increase and must be addressed immediately even though there is a Lightning Network but it is still not optimal.

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