Why bitcoin transaction fee keeps increasing? - page 7.

fndsr

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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 amount of transaction costs is in accordance with the value that will be used is not it in accordance with what we can definitely require the appropriate cost also

Nylelyn

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Quote from: masterbt on November 09, 2017, 07:08:31 AM

due to many hard fork information, there are too many transactions are going on and started the congestion. thus higher fees. you can always set a same low fee, if you are willing to wait.

Congestion all over the world affects the processing of transactions which resulted to options for users to either pay the minimum amount or pay higher for faster processing. It is like a fast lane, but I wish it is fair for all whether big or small time trader.

rumexx

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The fees on bitcoin was noted to be coming down in the last 3 weeks. I think what happened may is that the price of bit was down when you made the first transaction and then increased while the second transaction is made.

MaidaKalani

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Now the bitcoin delivery fee keeps increasing, as more and more bitcoin delivery transactions, so transactions that pay the highest fee will be prioritized (faster confirmed)
For example agan transaction has a miner fee 0.0005 BTC, while the other 1000 transaction miner feenya reach 0.0009 BTC, then you have to wait a few hours until your transaction can be confirmed

Muhammad Aamir

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i think so when there are a large num of transactions going on the miners then charge more fee to confirm the transactions, transactions with high fee are confirmed on priority and fast

niz3r_nade

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I think it all depends on how many transact, the more the transaction will be the higher the cost we spend. Essentially if the price is high then the cost will also be high.

leviathon

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The bitcoin transaction fees depends on the number of transactions currently in the mempool. If there are more transactions being done than the fees is high and if less transactions are being done than the fees is low. With segwit and the lightning network developments the transaction fees problem should be solved.

soplo

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from time to time bitcoin prices are on the rise, more and more are aware of bitcoin, because bitcoin can also increase a person's income, can even make a lot of money, so I think it's natural that bitcoin transactions are currently increasing, bitcoin is a safe and easy to use digital money online transactions or direct transactions, nowadays for miners also have many advantages, so that's why bitcoin transactions are increasing, and I'm sure in the future bitcoin transactions will increase compared to now.

jaaeeeyyyy

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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.

As bitcoin further increases in price. So is the amount of traffic caused by the large mass if users that are transacting across the globe. To make up for this developers of each different companies that cater bitcoin transaction spend hours and hours finding the most optimal solution to lessen or even obliterate this traffic. And because not everything in this world is free, they need to be paid more, that's why the transaction fees increase to give some more for the company while ensuring bitcoin has its fair share.

mornabo

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Quote from: semarm3sem on June 03, 2018, 01:16:50 PM

Fees will continue to increase.
For a "fee market" to evolve, there needs to be demand and suppliers. But there is only a fixed supply.
If fees get high, there's no way for miners to say, "Oh fees are high, we should mine more blocks or larger blocks to capture these fees". So fees continue to increase because demand is just slightly higher than capacity.

Yes you right, or in other words the increase in users will certainly make more transactions, and the network will be more crowded,
so that more transactions to be confirmed, and that will require an increasingly fee, we will see the fee continues to grow in ahead

nani culi

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At present, the Bitcoin network is congested with a large number of transactions and the bitcoin price increases, of course, will cause transaction costs to increase.

richchard3

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There are many reasons, people are currently using bitcoin for transactions. When the prices rise, the money interruption increases. Exchange sites are also trying to make money. There is a steady increase in the number of sites with large transaction volumes.

kevintrang

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Because more and more people are investing, the more expensive BTC prices, the more valuable the transaction fee increases according to its value.

gajebo

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because now more and more people are using bitcoin for transactions and making transaction costs increase, or maybe you make big transactions, because big deals can affect transaction costs as well.

letzdodiz

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The an ever increasing number of unverified exchanges on the blockchain arrange the higher charge would be required for you to send in normal affirmation time. check blockchain.info and bitcoinfees21.co to perceive what amount would you spend on expenses and to what extent would it take. I would like to utilize blockchain's wallet since you can redo your charge.

De Suga09

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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.

If bitcoin transaction is increasing, that is indeed a bad news for everyone who uses it and definitely a bad news and a turn off. However, when it does increase, maybe it is because the value if bitcoin is also increasing. I believe it will still decrease. Just have faith.

btc78

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Eloncoin.org - Mars, here we come!

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.

this happens last december but not november so i dont know where did you get this idea.but bitcoin transaction fee only increase because of congestion if ny transactions happening at the same time expect higher fee and slowly transactions

nguyentuanduongg1995

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Unlike traditional financial institutions, which charge different rates for each transaction, Bitcoin fees are completely independent of the amount of money you are sending. As a result, the $ 5 shipment fee for Bitcoin may be the equivalent of $ 5,000. Fees are usually not in USD, nor in BTC. Instead, it is determined based on the amount of satoshi per data byte, or sat / b. Satoshi is the smallest unit of Bitcoin: 100 million satoshi combine to create 1 BTC.
Therefore, instead of paying for each bitcoin you send, you will pay for the amount of data in a block that your transaction is occupying. Each standard transaction is usually 226 bytes in size, so your transaction confirmation time will depend on the amount of money you send.

Radio-Active

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YOUC - https://www.youengine.io/

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 is depends on the network of bitcoin. If they processed much transactions, the fee of transaction could be more expensive.
but for me, the fee is still ok as long not exceed $3. In ETH, if network is crowded, the gas fee of ETH can increased much.

basty03

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0x1b2d294ab6ca449e34F946B86540cd342cF49100

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.

The in every transaction in bitcoin is depends to the of bitcoin in the market let say the price of bitcoin is 10k the will be more higher something like 0.001 fee. So I think its ok because we use bitcoin and nothing is free now.

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