Why bitcoin transaction fee keeps increasing? - page 12.

futuret

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Quote from: alfs75 on November 18, 2017, 07:31:01 AM

Quote from: akram143 on November 09, 2017, 04:47:23 AM

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.

In my own thinks that coinbase is increase there transaction fee,due to the value of btc in the market is still increasing and every transaction of bitcoin have a counterpart value in terms of changing or trading that's depend on the platform site's you trade.

Yeah the bitcoin is being support by the people who are making the space for the bitcoin, now the bitcoin is helping a lot of the money holders and the bitcoin is the one and the only I hope the bitcoin will be use by the people and the transaction has become very fast now because the bitcoin is now available in all the areas and the holding of the bitcoin is the real and the best support now today.

mrayazgul

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Quote from: akram143 on November 09, 2017, 04:47:23 AM

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 thought i am the only one who is worried about the fees but reading these threads i see much of the bitcoin community Probably as bitcoin is growing so the fee is also keep increasing with bitcoins. I think the reason is its Value. There's a lot of people who use the bitcoin for small transaction are more worried about the fee.
I hope bitcoin community will come up with some solution. Maybe they need a hard fork to solve this issue of high fee.

alfs75

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Quote from: akram143 on November 09, 2017, 04:47:23 AM

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.

In my own thinks that coinbase is increase there transaction fee,due to the value of btc in the market is still increasing and every transaction of bitcoin have a counterpart value in terms of changing or trading that's depend on the platform site's you trade.

noictib

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Quote from: akram143 on November 10, 2017, 04:25:25 AM

Quote from: Sirait on November 09, 2017, 06:12:24 PM

Actually due to Bitcoin price increase then we feel his fee goes up,

1 week ago when Bitcoin price is still $ 5300 in Coinbase fee to exchange Eth To Btc about $ 2,5 then yesterday I exchange again from Eth to Btc fee about $ 5,
from I take the conclusion, the fee rises because the price of Bitcoin rises ..

I also think in that way the coinbase increased the transaction fee due to the increase in the price of bitcoin.But some guys explaining that the price increase is due to the size of the transaction increased but i don't know how the size of transaction will increase because I sent the same amount of bitcoins twice.

Here in actual the fee system is different from the normal fee system in banking sector . Here the amount of the fee for that bitcoin that you will transfer will not depend upon the price of the coin or simple Wallet system .
Here it depends upon the input and output of the transaction .
If you want to send that bitcoin( recieved from single person ) to a single person then you will be charged less , but the same amount of bitcoin that you recieved many people and want to send another person then surely the fee will be high for you ( Because you received from many persons ) .
Hope you understand the technology of the fee system in the blockchain.

akram143

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Quote from: Sirait on November 09, 2017, 06:12:24 PM

Actually due to Bitcoin price increase then we feel his fee goes up,

1 week ago when Bitcoin price is still $ 5300 in Coinbase fee to exchange Eth To Btc about $ 2,5 then yesterday I exchange again from Eth to Btc fee about $ 5,
from I take the conclusion, the fee rises because the price of Bitcoin rises ..

I also think in that way the coinbase increased the transaction fee due to the increase in the price of bitcoin.But some guys explaining that the price increase is due to the size of the transaction increased but i don't know how the size of transaction will increase because I sent the same amount of bitcoins twice.

roddy5

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Quote from: akram143 on November 09, 2017, 04:47:23 AM

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.

Maybe what you are pertaining to is you repeated the same amount of transaction and the fees are not the same?

As far as I observe transaction fees are based on the bytes for that transaction and the bytes are being affected by the origin of the balance that you have. for example if you have 1 bitcoin and the origin of it is just from 1 address then it have smaller bytes compared to 1 bitcoin from several sources which will have more bytes needed to be solved.

Protected101

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Quote from: akram143 on November 09, 2017, 04:47:23 AM

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 it depend of how much money you will transact.And its because of the increasing value of bitcoin so thats why its transaction fee is increasing,pump and dump everyday it affects our transaction fee that we transact.

Mei1418

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I think this is happening because the number of bitcoin users is inversely proportional to the current bitcoin encounter, the number of purchases leads to the decrease of bitcoin, this may be the cause of the more expensive bitcoin price

Getcoinsite

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Quote from: akram143 on November 09, 2017, 06:26:30 AM

Quote from: SUDARMONO on November 09, 2017, 06:17:16 AM

I have never experienced it, and I think it may be because of the large amount of value or it's because of the different transaction destination factors from one market to another, and the amount is quite large for transaction costs.

But i sent the same bitcoin amount but i wondered why the fee is more this time,But i want to make sure this is in all the place or in only on only my wallet.I am using coinbase wallet one of the best bitcoin wallets but the transaction made me little worry about it.

so it is,youve sent same bitcoin amount but not the bitcoin value.so when the bitcoin value increase.the transaction fees will increase too.

Sirait

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Actually due to Bitcoin price increase then we feel his fee goes up,

1 week ago when Bitcoin price is still $ 5300 in Coinbase fee to exchange Eth To Btc about $ 2,5 then yesterday I exchange again from Eth to Btc fee about $ 5,
from I take the conclusion, the fee rises because the price of Bitcoin rises ..

entebah

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After hardfork then BTC delivery is faster and easier, it is very helpful. If the fee gets more expensive I think it's a normal thing, because we get the ease. More and more people are using Bitcoin then network traffic is getting busy. that's just my prediction.

rodskee

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Quote from: akram143 on November 09, 2017, 04:47:23 AM

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 the reason of the transaction fees increase bitcoin also keep increase the price value, my analysis if the pirce of bitcoin pumping the the transaction also increase and if the dump the fees decreasing.

Shreek

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about the cost of transactions, which I know is that transaction costs depend on coin, more expensive and better coin, then the transaction costs will be large.
the second depends a lot and big, when you sell bitcoin with large amount then the transaction will be big.

DELTA5ROD

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There are too much transactions for banks to handle and they make people pay privilege transactions fees to get their transactions sent 1st and make transactions fees higher that's why you shouldn't make any transaction right now .

Habbiton

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Thats why B2X exists...

warden

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actually the fees are decreasing right now you can check for yourself
and check this link to: http://cryptocurry.com/general/reason-behind-drastic-drop-bitcoin-fees/

Lubang Bawah

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Transaction costs increase due to increasingly complicated blocks, increasing wallet addresses and partly, but if we compare with the cost of banks, of course bitcoin is still cheaper than banks.

kimochidesh

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As no of transactions is increasing, Hash rate also increases. That means Miners are getting less amount of BTC as a reward for mining. But all other factors like expenses will remain same for miners. Therefore miners charge more to keep their margin at the same level.

kirikmax

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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)

God Fist

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Whenever a bitcoin bank has a lot of unconfirmed or unsent transactions that will make a very long queue of people waiting for their money to arrive and like that minors will increase the fee because the demand is very higher than the offer so minors get to set their own rules by increasing the fees .

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