Topic: Why bitcoin transaction fee keeps increasing? - page 10. (Read 2500 times)
The number of users keep on rising. And along with that, the number of transactions per day also shows an upswing with every passing month. But the problem is that the block size is fixed at 1 MB and it stays constant. In the near future, the scaling issues will resurface once again and the transaction fee will hit a new high.
I have never seen two transactions with the same volume and cost differently in the same service. But I don't know why transaction fee on exchange is very expensive (0.001 on coinexchange)
Even in some other exchanges like c-cex giving a fee about 0.002 Btc or $20 for each transaction is a very expensive fee, you know everyday the user keeps growing and it makes the network become more crowded, so it will take more time to get confirmation if only using low fees, that's why transaction fees are getting expensive
I have never seen two transactions with the same volume and cost differently in the same service. But I don't know why transaction fee on exchange is very expensive (0.001 on coinexchange)
Maybe because of the value of bitcoin the higher the value the more you paid and there are also some procedure they have in the market that makes it high like the demand of bitcoin in the market and also investor and those who facilitate or manage it is one factor.
I think this is due to the fact that more people are interested in bitcoin and the network will constantly require updates. Small transactions on 1-200$ a lot and it needs to be solved somehow.
Each market has different pieces of at least 0.001 BTC or more. With the increase in market fee due to the administrative costs of the market itself. 
i know that the transaction fee right now is high, its caused by the people that want to send the bitcoin is too much thats makes a queue in transactiion, in bitcoin we know that if the fee is high your transaction will be in priority queue, so if you want to send it faster you can set the fee is in the high and if you want to slower you can decrease the fee
Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.
Please correct me if i am posted in wrong section.
Well mate the explanation is just as easy if you learn the so-called common sense. Why? Because if you would imagine bitcpin keeps on increasing and we can't control that on and as well as the transaction it will be inevitable too to control. Hope you do understand now.Please correct me if i am posted in wrong section.
Bitcoin fees are increasing due to large number of participants in bitcoin talk and forum many now investors many also traders many also sellers uncontrollable undertermined personalities using this sites meaning many are interested in bitcoin currency.
Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.
Please correct me if i am posted in wrong section.
I think for that thing is there are reasons why that thing might happen in our bitcoin society and this is because for interms of demand of the people here in bitcoin. Many people get some income from this and they might be the people who are affected the most because of the factors might increasing of the fee. Please correct me if i am posted in wrong section.
It is because of the demand from the people because the user of bitcoin is getting bigger and bigger and that caused the network to have a slower speed of transactions and the miners adjusted it by taking advantage of having more crowd and they raise the fee for the transactions into a higher rate so they can be profitable. It is just simple law of supply and demand.
Well it is the chance for transaction platforms to take advantage of the growing number of people who performs trading and uses their platforms. I also guess that it is because of the increasing price of bitcoin. Everything seems in sync with bitcoin if you will notice it.
For us, traders, this growing fee is becoming a pain in the ass but we can't blame them if they increased their fees. Just like us, they also want to gain profit anyway.
It's also that most likely the network is more congested today than it was yesterday. $4.5 billion have been transacted in the last 24 hours, double than before.
Also for the current price
The main factor in increasing the fee is because Bitcoin is hard to mined. And it can not be denied that Bitcoin Mining is always on the rise. And we can not avoid the problem of the fee increase.
Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.
Please correct me if i am posted in wrong section.
Please correct me if i am posted in wrong section.
I think because the bitcoin is increasing that's why the transaction fees also increasing. And every transaction fee is depends on how much you sent to transact. If you sent big amount of bitcoin of course you need to fee also little big for the transaction.
Price of Bitcoin changes from time to time as well, when BTC dropped its value transaction become also lesser, because exchange and wallets have a computer system that calculates everything as long as it was programmed on them, so they adjust when there are movements on the BTC price, isn't it amazing?
To put it in simple terms and it's already been mentioned here, it's the miner's fee that controls our fees when sending BTC.
You want the luxury of sending BTC, then you gotta pay those miners what they ask.
You want the luxury of sending BTC, then you gotta pay those miners what they ask.
Dude, why do you need bitcoin?) Use the ethereum, it's much more profitable in transactions
I think with increasing mining difficulty to mine Bitcoin, the fees to move Bitcoins around the network increases. Furthermore the market price of Bitcoin will also contribute to the transactions fees. I have noticed that as the price of Bitcoins go up the fees increases which makes complete sense. This is one reason that I use Litcoin to transfer "wealth" around the cryptosphere.
its because the user of bitcoin is increasing too, the users of bitcoin that want to send their bitcoin want to makes the bitcoin is sent in a fast time, so the sender is increasing the fee because become a priority in the queue, and i think if the fee of bitcoin high it will makes us happy, why? because if the fee of the bitcoin high its mean that bitcoin is popular and there are many people that use bitcoin, and the effect is bitcoin price will stable and maybe increasing
It is because of the demand from the people because the user of bitcoin is getting bigger and bigger and that caused the network to have a slower speed of transactions and the miners adjusted it by taking advantage of having more crowd and they raise the fee for the transactions into a higher rate so they can be profitable. It is just simple law of supply and demand.
I think the cost of bitcoin delivery is always increasing as bitcoin prices also rise rapidly, when bitcoin prices rise shipping costs also rise because the transaction is so dense that it will be difficult and long to do the bitcoin delivery process.
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