Bitcoin Forum

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

Yes, but don't count on that.  That statement sounds like every biotech and internet stock investor from 1999, right before the NASDAQ tanked in April 2000.  The Dow is always rising!  It's always gonna rise!  We're going to 36,000!!

And look at what happened.  There's no way to be in this market but to know that we could crash back to $420 at any time.  Doesn't seem like we're actually going to do it, but it certainly could happen.  And yeah, the fees are ridiculous.  There's no way around it.

Depends where you are and what exchanges are you using and what means of deposit are your trying.

Some exchanges have no deposit fees at all, but maybe you are not lucky enough to have one of them in your country

ok.. now imagine your not american

imagine your part of the 4 billion unbanked people that want to convert their local currency to bitcoin
now imagine you being told BEFORE even thinking about how much your actually wanting to hold as bitcoin, that 20-40 minimum wage labour and you still may end up waiting 36 hours is "acceptable" just to get handed bitcoin as the transaction fee..

yep in many countries a minimum wage hour is 5-10cents

so before thinking $1-$4 is acceptable.. think about those that really need bitcoin..

I completely agree. The fees need to drop, plain and simple. For people holding as a personal investment - fees don't matter, but for the people using BTC on a day-to-day basis it's a real pain in the ass. One of the main reasons people began raving about Bitcoin and all of it's wonders in the first place was because it had low fees...

Even if $1 per TX is acceptable I don't care if you pay $100 per TX you can still only process so many TXs no matter the fee paid..

Paying a higher fee is NOT any sort of solution no matter if that cost is acceptable to you or not..

I'm pretty sure even with 2MB blocks we'll continue to see these unconfirmed transactions, we're getting big every day so expecting users vanish magically is not a reasonable thing to do,
Even with 1MB blocks very soon normal users will not be able to run full nodes and normal users really don't need to run a full node unless you are invested enough money to need validating every thing yourself, then you wouldn't mind to spend less than $2500 to get hard drive a decent mother board, ram, a decent CPU-GPU and at least 100MBps internet access then start running a full node to secure your plus $100K investment under your own terms.
Now we could all agree Bitcoin was never meant for our time and we should wait another 10 years for technology to improve so normal users could easily run and maintain a full node.
While BU wants a simple block increase, SW is going with a smart plan to reduce the size of transactions and same time increase the block size.
Those who refuse to upgrade to SW compatible versions better to stay behind, those miners continue to mine spam and fill blocks with native keys should get blacklisted and their blocks rejected, we're not playing games this is serious, if SW has a fix for spam attacks and allows miners to filter them then any body not signalling it should be blacklisted and their blocks rejected.
If miners keep doing what they're doing then where are the honest miners wanting Bitcoin to thrive and not stuck like now?

This is a point brought up several times in this forum but its meaning seems to have been lost on the many who see Bitcoin or even crypto as the saviour of the unbanked. I like Bitcoin myself but the way it is developing and the path it seems to be headed down, it seems to be doing its share of widening the gulf between the "banked" and "unbanked".

Never mind those 4 billion people to whom the Internet will never be affordable to use - my own country's min wage is USD 180 and still dwarfs that of its neighbours - and because labour is largely unregulated, the majority of working class people earn far below min wage.

So yes, it seems incredulous to some here that people would scramble over signature campaigns. They mock the whining over $1 fees. But you're absolutely right franky. In relative terms, a fee of dollars is not just a meal for some, it's a hard day's or even week's earnings for many.

It's a good thing to step back and understand the realities of those for whom Bitcoin should be doing better.
 

in short your admitting segwit as is doesnt solve the issues.. thats step one which i congratulate you for admitting and seing..
but..

simply blocking pools/nodes/tx is literally killing the 46m outputs. literally creating an altcoin. literally causing a tier network and literally causing MORE network issues than a hard consensus of real scaling would have solved, which 'going soft' was trying(but fails) to avoid.

segwit DOES NOT!!!! guarantee 2x. its all dependant on keypair utility,
segwit DOES NOT!!!! prevent native malicious key issues
segwit DOES NOT!!!! guarantee bringing fee's down

the solution is simple
more transactions per block by having a single merkle block thats more than 1mb. not the tier cludge
reduce the chance of one spammer having 20% control of a block with just 1tx (the cludgy maths core will not sort)
new code that limits bloaters
bring in a NEW fee priority formulae which actually works to punish frequent spammers/bloaters and reward infrequent/lean tx makers. instead of punishing everyone nearly equally.(if they spend 6 times an hour or just once a month all punished the same)

core need to really stop trying to push the cludgy temporary gesture right up until 2019 and instead make a plan B of a hard consensus peer network that actually does a proper job without the cludge.

its not about core abandoning the core bus and jumping on the BU band wagon. its about core getting their thumbs out their ass and actually doing things the community want

and dont even try to pretend utopia via mentioning litecoin.. although "activated" the litecoin pools are not actually using segwit. their sending their block rewards to native keys(L not 3). yep the pools are not risking using segwit keypairs. so all the gestures and hope cant even be judged yet. because litecoin is not even truly utilising segwit.

get your heads out your asses thinking its segwit or no way and realise there is another route. where you can have a proper single block for everyone. and yes that still includes the voluntarily opt-in segwit/ln features. but actually does things the community want like limiting sigops and adding a new fee priority formulae and other things can than only occur in a hard consensus upgrade.
this combined would unite the community and get everyone having their cake and being able to eat it

It is quite easy, if you think the service fee of an exchange is unfair, not use it.  No one is forcing you to use the service that you think is too greedy and unfair. Why not transact in P2P at least that way you can avoid the high processing fee of these exchanges but you must meet the person face to face or through bank transfers. 

Well, just think that a couple of years, there were priority transactions which you could send across without fees. I am not saying that we should expect to send across bitcoins without fees, but the current situation of congestion is artificially created.
It has solutions but we are waiting for consensus. That is what is putting off people.

I think you don't really understand. People are annoyed when they have to pay 1-5 dollars worth of fees just to transact like 20 dollars. And then when you transact 2000 dollars, you are paying the same fees. It is pretty weird.

it is not just about paying higher fees per se it is paying higher fees at this point too. fees are supposed to be there to compensate the miners for the work they are doing, what satoshi calls "CPU time and electricity" in the paper. and at this point when block reward is 12.5BTC and price at $2000+ paying this much fee is not fair.

So what do you suggest? Bitcoin is supposed to make money transfers cheap and fast, but the idea of paying more to get your transactions confirmed faster seem to defeat the purpose that it was intended to do since its inception.


That's what I'm thinking as well. Simply increasing the block size limit wouldn't magically solve some problems we have in handling transactions unlike SegWit.

Greed is the driving force behind bitcoin which keeps the network trust-less. Yes, the fee is high and this is exactly the burning issue we are facing... even with this the bitcoin price is still unstoppable. So imagine the potential we have when scaling solution is implemented....

Its not we who are greedy it's the miners who are exploiting us to their whims. Honestly the best thing is not to make any transactions hold on to your coins, cause there nothing else one can do. At this very moment best is to wait and watch what happenes in near future, and I hope some common sense prevails and prices are restored to normalcy. Till then let's pray for the best.

Most of the time the fear of missing out the highest price is the lead for being greedy. When the user panic on selling at the best price, greediness accompanies and make people to hold and here too the one with the luck sell and profit at the best price. Transaction fee is always discussed as a major issue, but the increasing price always leads to increased transaction fee. No need to think bad about the transaction fee.

I agree and transaction fee is just normal for the security any blockchain gives. Because it is not easy to manage blockchain now that there are millions of users in the world wide web. So i suppose we are greedy in a way that we don't want a high fee even though we are getting btc in simple ways just by waiting and also via investing. Because time in time price is increasing so let us just adjust to that.

The price of bitcoin is getting crazy high and so does the transaction fees we have to shell out per transaction.I have noticed that some exchanges are charging higher transaction charges for most of the alt coins too even when the price of the coins shoots ten fold they are not making any changes to the amount of coins they take as transaction fee,these things have to be changed,the case with bitcoin is that the transaction charges are getting higher and so we have to shell out more,that is not the case with alt coins,but still some exchanges are charging higher fees.

i don't remember any deposit fee in any exchange, i only use kraken at the moment and there is no, to withdrawal tehe fee is also very low, both in bitcoin and in sepa, in sepa is ridiculous non-existent like $0.09

what exchange you are talking about exactly with this high fee?

If you are a small time trader, exchange fees are negligible. The most notable amounts by sum of amount paid are banking transfer fees for FIAT trades but those are not a percentile fee so even if you trade big time its not an amount to change your plans over

well from a quick look at you, i can see you are using Coinbase as your bitcoin wallet, specially when you are receiving payments as small as 0.0003BTC so i think you aren't really the one that should be talking about fees and if we are greedy or not :)

start spending some coins from your Electrum wallet which you keep offline and then after a dozen transactions where you bought some stuff from internet come back here and lets talk more about fees :)

Of course we are after all we're all humans, even before price increases from $1200 to $2000 fees were doubled from 120sats/B to 240sats/B.

I have no idea how far miners will go, because as users are joining crypto every day fees will go up not because miners are greedy but because they have no other choice than including the highest paying fees transactions.

Bitcoin has another 100 years to be dependent on fees only so I see no reason to start this fee incentive thing now.

Will any of you pay a fee of 800sats/B one month from now?

I think that the fees are ridiculously high because of the greedy exchange platform owners,not
because of bitcoin or btc price.
You shouldn`t blame bitcoin for this.

Even when I don't have any issue with paying high fees since its proportional to the increase in the price of bitcoin and we are happy about that, then we should also not be unhappy about the transaction fees but the issue is the delay in the confirmation time couple with transaction fees being recommended by the wallet provider then it take days which I think its not too much to ask.

I feel that greed has emerged from the two groups you wrote, I think current state of the transaction is just a game to increase cost of sending transactions every day around the world according to their wishes. On the other hand I also see a tendency to divert user attention to altcoin to set a higher bitcoin standard than altcoin exchange results.

That is why i support UASF even if it will create altcoin becouse people deserve to use fair altcoin, why you we have to force people to use LTC over BTC ?
LTC as pure copy of BTC is not that fair to be honest. LTC was suppose to be ASIC resistand and BAMM... one fundamental was crushed sine that LTC to me has no advatage over bitcoin.
USAF BTC will be more fair than most altcoins here

i believe the OP is talking about the bitcoin transaction fee people pay with any/all transactions.. which when doing a task like depositing into an exchang or withdrawing makes it 'feel' like needing to pay $1-$4 just to deposit/withdraw

The fees also effect stores that want to accept Bitcoin. For example we have cafe that does accept BTC but with the fees, paying around 80-90 cents in fees for a cup of coffee which is only 2 euros is not the most ideal thing to do. It would be great if a solution was found so the original title of "very little fees" can come back into play and people can see the incentive for using Bitcoin for payments again. Also as someone mentioned, for countries where they are unbanked such as some African regions, paying such high fees can halt its adoption.

Can you please name what crappy exchanger you're using?
I have not heard of one asking for such fees.

There are ATMs cheaper that that.



If I'm moving more than 1 BTC probably.
But for 0.025 or 0.05 payments... afraid not.

Nope it is not acceptable.

Yesterday I send from my Electrum Wallet 30 $ and to make it happens within 10 blocks (100 minutes) I paid 2 $.


WTF  ??? ??? ???

It is more expensive than bank transfer. Blokchain was fast and almost free transactions worldwide. Bitcoin does not offer it anymore.

yes i will pay that and even more if i have to because i didn't come into bitcoin for its cheap fee, there are a lot more that it offers me.

with that said this is really not acceptable, and things need to change. when fees are increasing like this it is obvious that miners won't change anything. they will stay like this forever because their profit has been increased a lot.

i don't completely like the idea of UASF because of the risk it has but sometimes i think it is necessary for us to remind miners that they are nothing more than our employees and they need to wake up and see beyond a temporary high profit from fees.

Yes exchanges are not collected fee for deposit. But to add money into bitcoin wallet have fees. Am used local bitcoin wallet everytime i would like to add bitcoin in my wallet i go to the nearest 7/11 to add bitcoin. But the fee are not much bigger.

Deposit using 7/11 stores charging 5% of the amount but it will add into your balance after deposited that is why theres no fee if you do deposit in bitcoin. But if you do withdrawal then you feel the higher charge on your withdrawal.

IMO the people who are being "greedy" are the ones that are paying the high fees!!

They are being greedy with blockspace vs time..
The more you pay in fees the more you push out others under you and the more fees will increase by other greedy people trying to get infront of you..
They are just cutting in line..
Everyone could just paid 10k sat fee and wait in line equally..

If you are complaining about high fees what you are really complaining about is having to wait and the fact that others are paying high fees..


From here more or less users do not really translate in to the cost of fee to get your transaction confirmed fast..
Even with the amount of transactions now their are plenty for a fee race..

People start paying 100k sat fee to cut then others pay 200k sat to cut then 400 then 800 and even with the same amount of people if they want to race to cut with 1mm sat fees then it will take that amount of fee to get your TX confirmed..

But think.. If everyone paid 20k sat fees then their transactions would confirm just as fast as if everyone paid 500k sat fees..
The fee you pay doesn't make transactions confirm faster, it just makes your transaction confirm faster than someone elses transaction that paid a lower fee..

Even with no more users if people are just going to pay higher and higher fees to cut in line then the fee to get your TX confirmed in a reasonable amount of time is infinity because it can go up as high as everyone is willing to pay..

If you think that the service fee is unfair, then just use another service that suits you.

The fee looks strange for me. That means the service took 1% - 10% just for paying the fee. In addition, Is it no included with the transaction fees?
Regarding from the latest rate of bitcoin 50k satoshi worth for a dollar.

For the bigger transaction, it will be acceptable for the bigger transaction but not for a little one.
Bitcoin is not a micropayment again.

Franky, I perfectly understand and share your opinion.

Bitcoin users are often caught in their own little world and  that shape their opinion through the lens of life standards in the first world country.
At the same time I don't think that Bitcoin (even with future scaling solution, which will hopefully lower tx fees significantly and improve our network)
will be able to help unbanked poor people. For these people whole system needs to change, they are being exploited in their countries with crazy low wages,
bitcoin alone is not enough to change the world for them, they need to earn more to be able to afford it.

It doesn't matter if they all pay $100 fee, all their transactions will still not get confirmed..

In my country, the problem is usually getting the bitcoin out of the exchange rather than buying bitcoins. For example, buying $2 worth of BTC have no charge at a convenience store brand. I tried sending some dollar to a Youtuber I'm subscribed to, just to test out how it works (so I'm not planning to have Paypal or Patreon anyway). It was asking for 86 cents. I was like "damn a dollar is already a full meal here, I can probably still afford to send that but fee as much as that?".

No, we are not greedy, it's reasonable that people want to keep fees as low as possible, and if miners agree to them, than it's fair for everyone. The reason why people say that Bitcoin fees are too big is because those fees are flat - they are not related to the size of transcation, so if you are doing big transcations, like in your case, Bitcoin fees seem to be cheap, but if you want to tip $5 to someone or buy something small, then the fees start looking really big, especially if you compare it with altcoins, which have tx fees with a size of just a few cents.

It is just a human nature to become greeey what i just really dont like is that this might lead to market manipulation or to something that is not good i agree to the fee might be acceptable around 1-6$

I think that we aren't greedy, because in some countries these fee is expensive. Besides, it is supposed the fees should stay low for Bitcoin community and greater adoption.

Bitcoin transaction fee doesn't depend upon the amount of bitcoin we are transacting so to send some micro transaction in bitcoin we may have to pay more than the amount we are trying to send out. So even that 1-2$ will count as expensive/high fees for transaction with less than 10$.

Current BTC fees are huge and you have to accept it's not right

Yes because they want to earn more money or bitcoin. There are many fees like that in bitcoin world and I think this fees will high in the future. And I think this is the reason why many people not like bitcoin in future.

I agree. I've been paying between $0.5 and $1 fee every time since I got interested in Bitcoin, but things started to suck lately. Last week I've sent a $1 fee transaction and it went relatively fine and got processed in about 12 hours. This week my transaction is stuck for over 50 hours!

Just pay $8 and it will be processed in "only" 30 minutes! :D

I could agree that we all have become a bit greedy, both miners and users. Maybe we all expect too much of Bitcoin and we all want to get too much profit in to short time. We have to find some kind of balance and solve emerging issues, we just need good will and understanding on both sides.

If you pay such a large commission, bitcoin will lose its attractiveness for many people. Therefore, I very much hope that the problem of unconfirmed transactions will be resolved in the near future.

That's a cost of a large pizza! Now the question is: can I wait for 2 days for a transaction to confirm and buy a pizza or lose the opportunity of a good meal and get an instant transaction instead. I never had such dilemmas with fiat ;D
I love Bitcoin and I've earned a lot just by holding it, so I can afford paying a high fee, but what about all the newcomers, can they?

To pay 1$ to 5$ for big bitcoin transactions is very acceptable, but I don't want to pay the same 1$ for little transactions like two digits transactions. I don't think it's a good idea to try making persons accept it as it is now.
It will make persons lose interest about bitcoins as they want to pay lower fees and have more profit by using crypto currency, otherwise they would be happy with fiat.

I totally agree with you, the high transaction fee doesn't really matter again because the issue is that the blocks can just serve the current  demand again and expect this to continue. I believe the miners will be loving this but time will certainly catch up with them

You act like greed is a bad thing. Greed stimulates completion and encourages innovation. That is what capitalism is built on. That is why bthee are so many altcoins and that is why the crypto space is growing.

This development actually pot ends  great danger to the survival of Bitcoin. While other forces standing against Bitcoin even in their numbers could not accomplish, Bitcoin may on  its own without realizing it hand it all over to them without sweat. In fighting can be such a disaster if not checked on time. Want to believe the core and BU would see ahead and resolve the blocksize issue for the love of Bitcoin and posterity!

I know about the countries with minimum wage – I am living in one with a minimum wage of 20cents per hour. The 4 billion, who don't use banks, don't know about online payment processors, and don't know about bitcoin (either they didn't hear about it, or they heavily trust in cash) to use it as a payment processor. Also I don't think bitcoin, at the moment, is ready for such masses.

Yes people become greedy right now because of continuously rising of its value. But the if problem right now is the high transaction fee. It may be the cause of getting down of bitcoin if it still remain for a long time. When scaling solution implemented I think every bitcoin user will be happy because it will be fair for them whenever they have transaction to other.

lol
Mpesa.. research it

agreed but thats due to core limiting growth to pressure people into new keypairs using fals hope/false promises and then commercialised hub services(LN)

yes i agree with you, it is quited hard for us, because we are using bitcoint to help us in our daily needs but in some reason , we become lazy in bitcoin because of the transaction fees, we are working for so hard, but the transaction fees are getting bigger as bitcoin getting higher too. im hoping that fees will bit much get smaller.

it's true we also get a lot of profit from rising bitcoin price so the transaction fee increase is fair to me. but which is very unfortunate if we transact with a small value I mean when the transaction $50 and fee $3  is very much.

Okay you are right the $1-5 is acceptable but no more higher.
It is way above than it was before. It also increased in just a short time with a short notice.
I guess those spam cant deal with that kind of large transaction fee so they will stop and we could clear up the traffic out there when everyone is paying the right price.

Im a tad confused. Are you complaining about the exchange you use for their high fees? or are you complaining about Tx fees on the chain? If its the exchange, then use another one, if its regarding the tx fees, well, right now it sucks, but its necessary. I make sure I send 2x the amount suggested per byte, yes, its more than the 6 cents i was paying just a few months ago, but id rather have my tx included in a block quickly, or ill lose sleep.

I dont think that Bitcoin is viable for micro payments any more, there are many alt coins that will do this. Bitcoin is going to be for those that are early adopters or invest heavily.

As for the BU/Sw debate, Im just going to hope for the best as Im no longer a miner and dont have any say. It does make me nervous that if BU is chosen that we will have 2 coins. its already hard to explain what bitcoin is, its going to be very confusing when there are 2 bitcoins. I hope there is a solution that will fix most issues without a hard fork..

BA

Just some exchanges are trying to make use of the current situation.They know that people are getting crazy to buy bitcoins.It would be fine if you are buying bitcoins as a long term investment.If you are trying to pay for a service,then it would be better for you to go with cryptopia exchange.

Yup the fees in some exchangers are just ridiculous the community should implement and should decide to how much fees does this exchangers should collect, just to be fair.
After all bitcoin is a decentralized currency there is really no need to increase in deposit or withdrawal fees even higher, i think 1$-5$ is enough.

There is no question about we are bringing so much greed into Bitcoin. Well, there is nothing wrong with earning what you are due but what is happening right now is that charges for the transfer is already beyond what can be considered as logical and just. In the first place, Bitcoin is supposed to be fast and cost-efficient. What what we are seeing and experiencing right now is opposite of what Bitcoin must be.

This thing has to be solved otherwise we might see some alignment or a bubble bursting in the near future. Sadly, this problem created a great incentive for miners and exchangers to make more money. The voice and concern of the common Bitcoin holders and users are getting to be drowned in this situation.

Greed that drives from behind because not confident, the cost is very high although the price of bitcoin unstoppable
Then many have imagined the potential that we have when scaling solutions are implemented.

If it's decentralized you can't enter other's business and say them how much % they must charge from their users. Decentralization works when there are competition and only the good services will survive (in this case, the services charging low fees), as people have their free choice to choose the best one, most advantageous service they have to use. I think makes no sense to set fees like $1-$5, OP should set it in %...

Being greedy is not a bad thing, if our good intentions are understandable, if we are greedy to raise money and can make our family happy, that is a great and wonderful thing

as i said there should be a lyer for different kind of transaction, micro transaction should be viewed with a different fee for miner, too bad they only see the size of the transaction, which is stupid at present

if the fee was based on the amount and not only on the size, we not have all this problem right now, i mean you still would have the block issue, but the priority for small amount TX would be different

there should be two way of priority with micro transaction working on a priority that is 10%(just an indication) of the big transaction, the definition of big or small transaction should be established carefully

let's say up to $25 or $100 maximum is considered small all the other are big

Yes i agree with you paying $1-$5 in fees is acceptable, if we use bitcoin for investments but it will be different if bitcoin be used for payment method (new currency) if we want pay something in bitcoin worth $1-$5
we must pay more than it for the fees transaction and the comunity of bitcoin want bitcoin become currency can be used for daily transaction, that is the problem must be fixed by all of comunity bitcoin.

Yes my some transaction are pending because of low fees and also i tried to send my another bitcoin wallet address using low transaction fees its after week showing pending . So it has to be change otherwise there will be a tough days

Soon without an agreement on the the whole segwit drama pizza will be out of the question.
Don't forget one thing.
You pay a fee when you pay the pizza , but the merchant or the payment processor is also paying a fee collecting all the bitcoins from the payment addresses.

So you pay 2$ for a 10$ pizza but the merchant will also pay ~2$/tx (less because of multiple inputs one output) when he collects 100$ from 10 orders.

In less than one month I don't think we're going to use it for anything lower than 100$.

I already don't really use it for anything under $100, but that's beside the point and I think that you're definitely going to see issues for anything under $20, considering you start paying >5% fees even when you cross just that small threshold. It doesn't seem like there's a point to move anything smaller than, at the very least, $20.
That's probably going to end up being a larger issue the longer time goes on.

I can make a good advice to you if you already dont know about this service:never send bitcoin with low miner's fee,it will get stuck on next "available" block.That's why always use recommended fees when you make transaction. If transaction get stucked on blockchain just try free transaction accelerator services like viabtc to solve this problem.Always check count of unconfirmed transaction on blockchain.

I agree with you . It depends on which side we think. Because with a positive purpose of course what we do is a very good thing. Different when we are greedy just for, to make ourselves happy and luxurious life.

Exactly, greed is human nature, it is like the motivation for human hard work. However, we value greed by our work. Greed should be judged by the actions and virtues of each person.

The transaction fees are a killer for micro transactions, as if it is the miner's way of discouraging us from sending small amounts. Greed is at a very high level for a lot of the parties involved, the local exchangers, the miners and the investors who want to make the most without costing them too much. At some point, something has got to give and a compromise must be reached for things to be balanced among us.

For large transaction its ok to pay a fee around $1-$5 but for those who are micropayments i think paying large amount is not acceptable mostly for newbie users of bitcoin that complaining about their transaction turn into unconfirm or it takes to long to confirm..
Well we have a wallet here and i think even we are not paying a fee you can be still sent your transaction about an hour unlike other wallet that you need to pay a fee before you can send bitcoin..
Coinbase also need to pay for a fee in order to sent. coins.ph if you are in our country you can use the wallet and choose non-fee instead if you don't want to pay for a fee.. i think the transaction will arrive in 1 hour base in my experience..

The price of Bitcoin is getting crazy high and therefore, transaction costs, we must spend every transaction.I have noticed that some exchanges are charged higher transaction fees for most currencies alt too even if the price of the coins shot ten times they do not make any changes to the amount of coins they lost transaction fees, this has been changed, the case with Bitcoin's transaction costs are recognized are higher and so we have to spend more, that is not the case with alt trend, but still some exchanges were higher toll

The solution for this problem (fees transaction is cheap)be offered by comunity is segwit,
there is rumor will be activated but it will not be easy  because there are some people who agree and disagree
the other solution lighting network, bitcoin unlimited, let wait and see what will happen.

Greed that makes no more confidence. Costs are rising and this is the same as the burning problems that we have faced.
Bitcoin prices unstoppable again so just imagine.

Yeah I agree it is not a big deal really to pay $5 for a transaction worth 2000 DOLLARS or may be more, but what makes me more curious about the future of the Bitcoin is the delay in the transaction. As we all know that the Bitcoin popularity is also based on the fast track transaction, if this feature really doesn’t work I am afraid the Bitcoin may face some harsh consequences.

I believe Bitcoin can find an effective solution with the probelems they are facing so that they can cope up with the increasing demands and now that Bitcoin has gained its momentum especially this year where a lot of countries have officially announce their acceptance then I'm very optimistic that the developers would not like to miss the opportunity that open up in front of them together with its users all around the world.

IMO, if they do or do not find any solution for this problem, we will still can see new higher level price by end Q3 this year. Because people keep on buying for saving.  ;)

price has never had anything to do with this situation. that is affected mostly by the exchanges and the demand "traders" have in there. so it will continue to rise as long as that demand is still there and increasing, which it does.

but since bitcoin is not JUST an investment but also a currency, this situation comes in but the importance of it regarding price is smaller at this point but in long term that will be what pushes the price up with real demand.

You have look of a 1st world person. If you live in 2 world or 3-rd world, you look at things diffirent, for example this $1-$5 could be your month salary. So now this isn't looking usable for half of world population.

It is only your thoughts and speculation that everyone here in this industry was a greedy person.
Not all bitcoin community are like that, because being like to earn big in bitcoin it just a normal thing
where we believe that it has a brighter future that it can give to us.

Ended up paying high fee after four days of waiting, 24hr later still not confirmed. Heard that activating SW will solve this problem but what are they still waiting for. The whole thing is really surprising to me

At the end of the day everyone is a greedy person more or less. If you think about the price of Bitcoin then, when it will be higher then we must be glad but if it falls then we don't​ be happy. So our satisfaction depends on our desire not deserve. That's is the human nature and we are not out of this.

The fact that bitcoin price is rising everyday is a enough reason why the transaction fees should also increase but at the same time, we should not be unmindful that its is not only the fees that people are complaining about but the timing it takes for transaction to confirm aside that the issue of change in the transaction fees in a matter of seconds is another issue of concern.

It is okay if the fee is increasing only on it $ equivalent but the problem is sat/byte is the one bloating. And it will continue to bloat as long as no solution is voted by the miners. The solution is there, but it is not being elected maybe because of greed or other reasons and that is what is frustrating right now.

I have to agree with op here its acceptable to have fees around $1-$5 with the current bitcoin prices.. besides lets not put the value of the coins before

executing our transactions because we shall feel the pinch.But paying fees as high as $200 is ridiculous! Lets just hope things will change for the better

after segwit activation

We are not greedy but we want the best coin that we can get, the coin with high price and low fee, because for the one that seldom used maybe its okay, but for the one that implemented bitcoin in business, it is going to impact a lot of things and the customer will think twice before using bitcoin

It is not actually surprising...the main reason is that the whole Bitcoin community especially the miners are still not able to make up their minds as to what the solution should be. Now, there is also a dark reason for this: the current problem raised the fees and so miners want to stretch the problem so they can rake in more profits. Greed has taken the whole Bitcoin and we ordinary users are not pleased as we are the victims here.

You can have your bread buttered on both side, if the developers can just find a scaling solution that would satisfy the miners and the users. At

this moment, only the one side {the miners} are satisfied with the status quo. The miners are the greedy people in this scenario, because they

do not want Bitcoin to scale. The scaling will mean that they will no longer be able to get these high miner fees...  >:(

Agreed, it`s a fair fee, no inflation, no banking white coats  who drink juices from working man. Now Bitcoin lacks only test of time for more trust and course stability.

It is a young market and abuse is committed. But the Competition will drive fee  prices down.

They know that they will make a lot of money so why come in a consensus to solved the rising transaction fees?  Oh the miners, and the one that is suffering in the casual bitcoin enthusiast because we are really paying them high fees so that our transaction can be included in the next block. So we are really in the hands of the miners now.

If we dont find the solution for this problem then i think very soon most of us will try to switch to other currency for trading and bitcoin will be used for investment purpose only like. Now i am changing my coins to eth and then i am selling them to fiat currency as the transaction fees is less and it is getting faster confirmation and the price is also i am getting high.

This impact you are talking about, is most likely an impact on fiat wallet fatness ;D
I bet all those early business bitcoin adopters are more than happy with their decisions of accepting BTC.
I retain myself from looking through my transactions from the past, where purchases worth xx in fiat are 3times bigger now :) it's just how it is. And how that seller feels when he checks his wallet?
As to customers having doubts with BTC... well, screw them ::) One have to believe in something in life, some pick deity others choose crypto(why not both? that's a discussion for other thread)

You are right we are getting greedy but if we think and realize the reality then we will accept the current fees of transaction which miners get from us. A few day ago when I was going to transact bitcoins of worth $250 then I paid a fees of $2 for that I was worried about the fees then I thought that it is for a balance of $250 then I happily accept it.

I think you are mixing it up, the transaction fee didn't increase as a result of appreciation in the price of Bitcoin, rather increase in the adoption of Bitcoin across the globe placed more load on the network and more in the mouth of miners than they could chew.

Sure the whole crypto ecosystem seems a bit over-pumped at the moment but don't not cash out unless you really want to buy something that you can only buy with fiat. Crypto-bubbles will come and go - what we need is off-ramps that allow us to stay in crypto yet lighten-up on any over-pumped coins. How? Pegged-cryptos. Crypto pegged to gold. Crypto pegged to silver. Crypto pegged to Swiss Francs. Crypto pegged to other commodities (ZrCoin maybe) or other currencies. Even Crypto pegged to the old $. Some of these already exist. Some need to be created and scaled now! Crypto needs to become a true ecosystem (and toxic scams will unfortunately be part of it).

Hmm, indeed it is today the main thing that happened in the bitcoin is a matter of confirmation delays occur. because right now there are a few things that allow the confirmation delay is increasingly common and the main thing is because of the growing number of transactions while his confirmation of his own (the miners). still very little. So, it may have to take a lot of funds to be quickly confirmed. But indeed the amount of the fee should be given 2 x fold of existing or if indeed you do great deals, it is better to use the fee above $5
 

We should not say were greedy because it's not true since everything is always a matter of choice. If you think you are greed of what's been happening with your profit from bitcoin withdrawal converted to fiat, you can give some btc amounts to friend who in need of money so that you will be satisfied with what you felt unwell. Just to be fair with everything that transaction fees  has to be more accurate and no one losses it since we benefited much without the control from goverment.

There is no greedy word in the business world, because the guidelines used are to generate maximum profits without harming anyone, competitive jobs will be fair if struggling and achieving abundant results in trading, bitcoin fluctuations that occur are also fair because it is done in the trading market, we It is necessary to estimate the ongoing price and our activities support bitcoin for long runs.

You're right, we're here to race for the better. Well, we all aim for something supreme, and if we are not greedy, then have you will be fed by others. Well, the fastest he won, I think it's like the law of the jungle.

Greed is as old as man and it is not feasible to separate the two, because man is simply a greedy animal, only some are able to tame their greed while others can never seem to get enough of anything. With the case of Bitcoin, the miners  are the greedier ones here, because they deliberately allow the congestion of the network, so to push forward their selfish interests and make a case for higher fees.

Most of exchangers charge in buying btc through fiat. In my country, we don't pay fee for exchanging bitcoin to fiat. I hope all of exchangers do the same thing as what we have now.

Be a bitcoin enthusiast and importantly be an Indian citizen, 30% premium on all major exchanges, it means when Coinbase crossed $2300, it was $3000 equivalent of ₹ in India. Too much greed, let me correct robbing, nope looting. Coinbase and Xapo and most of other exchanges does not have buy/sell option for India. Other overseas exchanges are cashing it on now, pay by credit card, pay the FEMA (below the limit, it's free), cover the taxes, "Clean as a virgin's honeypot." These Indian exchanges are going to get under hammer soon.

This is true but right now as I see the solution regarding the congestion have made itself clear and it will come soon. We just hope that these miners would start to know that they should be fair since all we are, miners and users and developers, have common denominator that is Bitcoin who is very dear to us particularly it helps us financially. Of course we wouldn't want that to be one because of greediness and surely everyone would take a blow which really is bad that's why we all need to cooperate and maintain order to everyone by being fair so Bitcoin would not crumble and vanish.

Correct me if I'm wrong, China started this practice right?

But yes, its too much greed for this kind of exchangers. Profits are for them for picking. Its just a matter of time when Indian Central bank will find this kind of activity and get hammer soon. But for now we can't do anything about it but to what they it unfolded in front of our eyes.

the more we better, the more greedy we will be. I have seen that there are many peoplpe want more and more money although they have a good amount of money before. Human is not easy to understand like you say. They love money and they want to rule everything

And what's wrong with that? I want money, too. I want to make my life a comfor and free. I do not like the fact that because of poverty I must eat not the best food and live in a small house. I'm not greedy, I care about my future

it's not exorbitantly expensive but it's still high and I agree it's acceptable and better than fiat or PayPal's fees -in most cases with medium sized merchant transfers-. but it's still annoying particularly for something that was supposed to be small.
Anyway it's a BIG problem for anyone doing mini-tx's, which is one of the fields BTC is heavily advertised in.. and even if you collect hundreds of them together, you would still need to pay 2xxs/b

I'm a big fan of bitcoins and the like, but the fees are really too much now, particularly with how fees are mobile. I would be more satisfied if the fees are static since nobody can cut in the line, but right now even if I was much earlier. I would have to see people with more fees passing by and getting confirmed if I use the old standards 0.0001 (and will probably expire before confirming).

BTC is supposed to be better than these, that's number one. so of course it's fine to be angry if we see something like a weakness in BTC, Also these fees are for example a wire transfer between banks to deposit BTC, Not inside the same network..
If you think about it, bitcoin is still cheaper than Payza, PayPal etc... but people here need something better, this is my opinion at least.

Yeah almost all of us are getting greedy in buying and stocking bitcoins at our wallet using our own fiat which exchange sites used to earn money from us who is buying,abusing the huge demand to make huge money

There is nothing wrong in that. We humans are greedy and selfish by nature no matter how much someone tries to deny that. We want profit everywhere. Investing in bitcoin is sheer profit making investment. Why wouldn't I save a single penny out of it. There is a rage in people because of the high fees in bitcoin. This is because not everyone here buys 1 BTC. Here most of the people are just buying and seeling somewhere between 0.01-0.2 btc. So yes, for them this is the matter of rage.

Taking and making profit is one thing but the too high fees is daylight robbery. We all thought Bitcoin would have some transparency and help change people's lives, but miners and whales should stop being TOO greedy as this will put many newcomer off, so in the end they will lose out if the price of Bitcoin doesn't rise as it should.

You want to know what is the perfect cure and solution for the problem Op described? Wait for the future where you won't have to use bitcoin exchanges anymore.
Every service and merchant will be accepting direct bitcoin payments so these ridiculous fee will disappear. Until then, just pick an exchange with the best possible fee structure.
Good thing there is plenty of exchange to choose from.

One way or another, it was very clear from the beginning that fees would increase throughout the years -- that's why it doesn't come as a surprise to me. The only thing that did somewhat surprise me, is the way how we have reached the current hight of tx fees. I remember people were freaking out when there were 50k unconfirmed transactions, and then 100k, and then 150k, and now 200k. What's next 300k? 400k? It's insane how this spam continues to grow in size.

I think that people should try to hold onto their Bitcoin more if they really are complaining about the transaction fee. If the price of Bitcoin goes up about a hundred dollars or so, the transaction fee would be a little less if person knows how to go with the trend. Trading with leverage wouldn’t be that tough to do because the chart would usually have an upright signal and only those that didn’t know about Bitcoin while putting money into would lose a whole lot of money.

I don't think transacting a bitcoin, worth $2500 or so would have a transaction fee less than the current fee and with the current price of $2100. The higher the price of bitcoin, expect a higher fee, and you don't need to complain about it, you just need to go with it if you don't want to make your transaction stuck there forever.

I totally concur. The expenses need to drop, plain and straightforward. For individuals holding as an individual speculation - charges don't make a difference, yet for the general population utilizing Bitcoin on an everyday premise it's a genuine undeniable irritation. One of the primary reasons individuals started raving about Bitcoin and every last bit of it's marvels in any case was on the grounds that it had low expenses