Topic: Why the transaction price of bitcoin so high? - page 2. (Read 1883 times)
I think that this one is dependent on the exchange you're using or the wallet you are using. It depends on how much they asks. Some wallets asking fees with small amount and some asks for high.
With a very objective view, everybody wants to enjoy the pump before the fork.
Should be much more calm and lower price by the end of november.
Should be much more calm and lower price by the end of november.
ithink it depend what your paying for..the higher you pay the lessthan your transaction fee isn't? i observe that when i send btc if i send small amount the fee is so high when i send big amount the fee is cheap..by the way ihad few transaction correct me if im wrong...
I do not know exactly how bitcoin transactions are. but it seems that the cost compared to the last few years is increasing. maybe this is one of the strategies for the miners to get a little profit, and maybe this is like the business done. This I ever get in some countries if you want to send between countries are charged administrative costs. 
the cost of transaction fees is depends on the value of bitcoin , so if the value is high that means the transaction fees will also be expensive and if the bitcoins value is dropping then the fees are also low ( vice versa) and its not really a strategy of miners to get a little profit on your transactions, also this does not depends on the country you are living because the charge is always depends on the current value of bitcoins.
simple, bitcoin miners also cost a lot to get bitcoin. so naturally if the fee so high, such as symbiotic mutualism, we also help miners. In addition, the amount of the fee depends on the market.
Now I know! So the high transaction fees also depend on the chosen wallet. Unluckily I chose a "horrible" wallet for my bitcoins and I think I don't have any choice (changing the bitcoin wallet I am using is not an option because I guess this is the only wallet supported by our country, others are all foreign) but to accept the fact that it has very high fees.
My bad experience to this wallet is when I'm sending .0002 btc then I was shocked when it states that the total payment is .0004+ . It means that .0002+ is my fee. OMG!
My bad experience to this wallet is when I'm sending .0002 btc then I was shocked when it states that the total payment is .0004+ . It means that .0002+ is my fee. OMG!
Why the transaction price of bitcoin so high? I honestly do not understand the reasons for such prices. All say that this is a fee to miners, but how much time need to a regular PC made all the necessary calculations, and their equipment is much faster. Can somebody explain why the transaction price is high, but if you take part in mining the minimal income?
Because of the increased demand for bitcoin. At present, bitcoin is in the process of strong development, there are many countries accept bitcoin, from which the number of users increased significantly, the demand increased to increase the value of bitcoin.
I think that transactions fees depends on which site or wallet you are using and also how fast do you want to confirm that transaction.But i don't think that transaction fees are high at all, it might be high if you do many micro transactions but in large transactions transactions fees are negligible this is one of the reasons why bitcoins had became famous as it can send large amount to anyone in word with low fees.And as the transactions are increasing miners has to give the priority to high fees transactions as they too want to earn profit.
Am I right in thinking that as the price of bitcoin rises the transaction fee rises with it proportionally?
It depends actually. If you are using an online wallet then they would recommend a fee that will make their transaction faster but ofcourse at a higher price. But if you are using a desktop wallet then it depends on you if you are going to pay for a high fee or a lower fee so I recommend that you use a desktop wallet because you hold your own safely.
When the value is actually very high then the transaction would be high also. You can calculate that each transaction will be 2% of the ag mount your going to spend or exchange. $6k per coin will be $60. 2% isn't that big deal however if the fee is fixed whatever the amount is, that's lower than a hundred dollars would be painful.
I have to say that the fees are comparatively low at the moment (though still more that one wants to pay) remember when they went to $3-5 recently and that was for $200 transactions! Now they are back to $1 or so - it's not great if Bitcoin is to be a global payments system. Transaction fees have to be kept low - otherwise it starts to become much more for a store of value.
Isn't the transaction fees supposed to be better now if you are using a wallet that actually supports Segwit? Else we probably might have to wait for LN to be implemented but that won't be anytime soon now.
I have also heard no issue related to the transaction fees lately. I thought and actually heard that things had gone better and Segwit was supposed to tackle with all such problems. Still, if someone is facing a lot of difficulty, it would be only in micro payments and he just needs to wait till November, Much better if he changes his wallet and exchanging site.
Isn't the transaction fees supposed to be better now if you are using a wallet that actually supports Segwit? Else we probably might have to wait for LN to be implemented but that won't be anytime soon now.
Why the transaction price of bitcoin so high? I honestly do not understand the reasons for such prices. All say that this is a fee to miners, but how much time need to a regular PC made all the necessary calculations, and their equipment is much faster. Can somebody explain why the transaction price is high, but if you take part in mining the minimal income?
because these bitcoin transactions are in great demand by everyone, and so the bitcoin transactions are experiencing high achievements
I do not know exactly how bitcoin transactions are. but it seems that the cost compared to the last few years is increasing. maybe this is one of the strategies for the miners to get a little profit, and maybe this is like the business done. This I ever get in some countries if you want to send between countries are charged administrative costs.
Why the transaction price of bitcoin so high? I honestly do not understand the reasons for such prices. All say that this is a fee to miners, but how much time need to a regular PC made all the necessary calculations, and their equipment is much faster. Can somebody explain why the transaction price is high, but if you take part in mining the minimal income?
I don't think that price are very high in the current time because price that i seen is not much high according to my daily transaction that i usually made .The best thing that you can estimate that how much we need to pay for the transaction is the input and output of the transaction .
If you got the btc from 10 persons and want to transfer to a single person then it will take fee high than what you will get charge for the transaction of btc you got from single person.
So here my suggestion for you that don't judge anything until you know exactly about that .
And know only if you will pay high than you will get priority first from the crowd of the transaction and beside this factor input and output are the main things of increasing fee for the per transaction .
Why the transaction price of bitcoin so high? I honestly do not understand the reasons for such prices. All say that this is a fee to miners, but how much time need to a regular PC made all the necessary calculations, and their equipment is much faster. Can somebody explain why the transaction price is high, but if you take part in mining the minimal income?
The answer is very simple. I think you need to understand it in detail. It's like the "supply-demand" rule. Transactions made on a daily basis will provide a premium, and that charge will be paid to the miners. and of course, it will be divided equally. When the number of transactions is constant, the transaction fee is still averaged, but there are too many miners to exploit it, which will be split many times. 
I use coins.ph and its so high tje transaction fee.but even its high fee atleast it was trustable.and the confirmation was so fast also.thats why i its ok to me even its a high fee but sure and fast transaction rather than small fee but not sure .
It is basically because the fees were fixed according to BTC and do with the increasing prices of Bitcoin , the fees also increased. But that is not how it should work. Soon Segwit was activated and it should reduce the fees . So let's hope it changes something and we have to pay less fees
Jump to: