Why do bitcoin transaction costs continue to increase?
the likelihood of the number of coins in circulation at this time continues to increase and bitcoin has been in great demand by the public, so that possibility is one cause of the increased transaction costs of bitcoin.
Topic: Why bitcoin transaction fee keeps increasing? - page 9. (Read 2500 times)
i am agree with you. you are saying right. More Detail: https://www.bitcoincrowncoin.com/Buytoken.html
transaction costs continue to increase as bitcoin prices at that time also increase. I think the crypto currency market is taking advantage of the bitcoin price increase.
even though the transaction costs increase but will not be in disadvantage because bitcoin that we have at that time also rise in price.
even though the transaction costs increase but will not be in disadvantage because bitcoin that we have at that time also rise in price.
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.
Increasing in transaction fee means good the demands of Bitcoins is growing so that's it .
I think his rise in bitcoin fees is inseparable from his rise in bitcoin prices, where his conversion will automatically be high with his fee
I think his rise in bitcoin fees is inseparable from his rise in bitcoin prices, where his conversion will automatically be high with his fee
The reason behind why the bitcoin transaction fee keeps on increasing because of the demand that keeps too increasing,
and Also because of the sudden change in outer and inner part of the organization of the business.
and Also because of the sudden change in outer and inner part of the organization of the business.
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.
Bitcoin's transaction fee is still the same as Bitcoin, when Bitcoin grows up, the fee is great, when the Bitcoin is small, the fee is too small when it makes you convert, but when Bitcoin is the same fee when you go out money even small amounts or large. Please correct me if i am posted in wrong section.
Because on the demand of bitcoin, look how bitcoin known allmost all country in the world. And I guess everyone of these country has a crypto user. And as time goes past it become and becoming much popular. Big investor will fight to buy btc so it can cause a massive pump. Btc had a less supply so transaction fee is proportional when btc pumps. The equivalent of btc fee will grow as btc price is up
I might agree with the word "demand" but with your supporting words aren't. Mostly bitcoin transaction increased/decreased base on the congestion in the network, but in these days it only requires a small amount of fee (4/sat per byte) where you can send and can be confirmed within the next block so no need to worry about stucked transactions.Base on my knowledge bitcoin transaction doesn't have any fees before or not that I know of. But then as what you've mention that because of its demand and yes I agree with that and for me its better to have fees as well because this will serve as maintainance and all other that needs to be maintaned.
Well, your knowledge is not concrete as you agree in the quoted post. And what maintenance are you talking about? if you're referring exchanges, well mostly, exchanges get profit when users buy and sell on their platform, and might be not when sending/withdrawing only from the exchange. 
If we compared the transaction fee last year 2017 which is experienced more than $20 fee every single transaction you made what ever how much you send it's totally same fee. But Im very thankful and happy now because the transaction fee is lower $1 and this very helpful to us who are earning a little profit because if we spend $20 this is not good to them.
Because on the demand of bitcoin, look how bitcoin known allmost all country in the world. And I guess everyone of these country has a crypto user. And as time goes past it become and becoming much popular. Big investor will fight to buy btc so it can cause a massive pump. Btc had a less supply so transaction fee is proportional when btc pumps. The equivalent of btc fee will grow as btc price is up
Base on my knowledge bitcoin transaction doesn't have any fees before or not that I know of. But then as what you've mention that because of its demand and yes I agree with that and for me its better to have fees as well because this will serve as maintainance and all other that needs to be maintaned.
Because on the demand of bitcoin, look how bitcoin known allmost all country in the world. And I guess everyone of these country has a crypto user. And as time goes past it become and becoming much popular. Big investor will fight to buy btc so it can cause a massive pump. Btc had a less supply so transaction fee is proportional when btc pumps. The equivalent of btc fee will grow as btc price is up
Why bitcoin transaction fee keeps increasing? It will keep increasing because so many exchange company has come in which fees will be included so that the transaction can take place because many things are involved. The exchanger has to put some measure of security must be put in place.
As I have heard the payments being given was due to the complexity of the computations which uses more power and therefore consumes more electricity. And as I have known the lesser the value of the remaining coins in the block chain the more difficult or complex will be the processes so this makes it time consuming as well so that payments go up.
The price of bitcoin went x10 but the transaction fees STAYED AROUND THE SAME in btc prices (whereas if they were priced in USD, it should been divided by 10).
Basically, by not adjusting the fee to the USD value and staying with the BTC value, the fee ALSO went x10 (just like bitcoin's price).
Who is to blame for this?
Is it major companies/exchanges who probably have hardcoded 200-400 sat/B in their code even though the price blew up?
Like this "hard-coding" I know is a major problem with Bittrex... they haven't changed their 0.001 BTC withdrawal fee from when bitcoin wasn't this high priced yet, making it a ridiculous $16 per transaction (when it used to be like $1).
And I think the network congestion is from these exchanges as well. I think someone needs to let them know that their hard-coded fee schedule, set to SPECIFIC sat/B values instead of USD, is the major thing making the fees impossible for everyone else right now.
Basically, by not adjusting the fee to the USD value and staying with the BTC value, the fee ALSO went x10 (just like bitcoin's price).
Who is to blame for this?
Is it major companies/exchanges who probably have hardcoded 200-400 sat/B in their code even though the price blew up?
Like this "hard-coding" I know is a major problem with Bittrex... they haven't changed their 0.001 BTC withdrawal fee from when bitcoin wasn't this high priced yet, making it a ridiculous $16 per transaction (when it used to be like $1).
And I think the network congestion is from these exchanges as well. I think someone needs to let them know that their hard-coded fee schedule, set to SPECIFIC sat/B values instead of USD, is the major thing making the fees impossible for everyone else right now.
For me ithink bitcoin transaction fee keeps increasing because of its price bitcoin price is so high its like its price before is $20000 so ithink bitcoin transaction fee depends on its own price.
I think that the transaction fee of Bitcoin on the exchange increased due to the demand of traders. At present, research and investment in Bitcoin is relatively common. Bitcoin collectors and trades are growing rapidly. By the rules of supply and demand, Bitcoin trading floors increase transaction fees to make more profits for managers.
Probably the Cost of Transaction Rise If Bitcoin Increases Transaction Costs Will Also Rise
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.
Because of the supply of bitcoin is always decreasing, the difficulty of mining bitcoin is harder.
So the fee of bitcoin transferring will be higher day by day.
But as long as the price of bitcoin is keep rising, the fee is equivalent to the price for me
This has been increasing time to time and the same gets reflected on the transaction fee of each transaction. Compared to the past the price has grown bigger and the same too will contribute to the transaction fee increase. Anyhow the transaction getting stuck to the network has decreased a lot
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