Bitcoin Forum

I wanna know something here why fees are increasing everywhere ? what happened ? O.o  ???

The fees are high for one (of both) of the two reasons:

1. Your transaction size (received multiple micro payments)
2. The bitcoin network is having a lot of traffic (many transactions - could be a spam attack as well)

its not just traffic.
its also that core removed alot of the fee controls and replaced them with mechanisms that actually push fee's up even if a few blocks have low demand

According to bitcoinfees.21.co:

The fastest and cheapest transaction fee is currently 420 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 94,920 satoshis.

if you want to know more how fee transaction is calculated I strongly suggest you can read this wiki page:
https://en.bitcoin.it/wiki/Transaction_fees (https://en.bitcoin.it/wiki/Transaction_fees)

You need to know that since Bitcoin is becoming more popular, network more congested, blockspace will become more expensive too.
This is the reason behind high transaction fees.

Actually, yeah, we've seen average fees and recommended fees rise with the mempool congestion but yesterday at just over 30,000 transactions, the recommended fee for a 4-hour confirmation guarantee was still above 200 sats/byte.

It's climbed down right now to 151 at 43k txs but it would appear that fees aren't going to return to what they used to be, even if the networks isn't clogged up anymore.

My transaction yesterday on Blockchain.info was relatively quick with moderate fee. I stopped using Wallets for a month due to the  worst experience I had with Blockchain. Just decided to do little transfer yesterday and it went through under 12hrs.

I tried to transfer some funds to poloniex on 29th of last month, still unconfirmed transaction because I used relatively smaller fee.
Don't know if I have lost the amount now or will it be confirmed... don't know if I can do anything about it either.
So high fees are definitely a problem.

Meec. Error.

Five transactions per second are not "a lot of transactions" for the current Bitcoin network.

Affirming this is a joke.
Anyone who knows a little of computers, hardware and software knows that the current problem is not bandwidth, spam/DDoS attacks or storage space.

The only fucking problem is two lines of code.
The arbitrary, deliberate and corrupt 1MB block limit.

Bitcoin is in high danger.
We are approaching the irreversible point.

agreed technically its just a few lines of code

politically:
doing something so simple causes issues to devs wanting to monetise(get income) from their services (LN commercial hubs) to repay their debt

bitcoin was suppose to remove politics and systems only for the rich.. bitcoin has lost nearly all of its ethos by the greedy ignorant devs that just shout "just pay more" rather than expand capacity PROPERLY. devs should be devs, not economists

(segwit still only offers a empty gesture of hope of .. yep 7tx/s just so they can then push people into LN)

You have actually not lost the money because the I experienced the same thing some weeks back but in my own case it was on blockchain and using the recommended fees but alas it was low to get the amount confirmed in due time. I had to wait for over a week after I tried several acceleration service all to no avail but it eventually confirmed on its own when I had even given up on the whole thing all together.

I'm not talking about the transaction (size/amount) but i guess your 2nd reply was Reasonable  ;D

You should rather ask why is the Bitcoin prices increasing everywhere? The transaction fees were made to go up if there's increased demand and prices of Bitcoin so they are directly proportional so one cannot go up while the other goes down. It can be managed though if the block size is increased enough to be able to accommodate more transactions.

https://support.blockchain.com/hc/en-us/articles/217116406-Why-hasn-t-my-transaction-confirmed-yet-

That links will really useful for you. The more transaction gets stuck in the mempool and the more people try to raise the fees to be included in the next block.

That makes the blockchain congestion, The reliable fees will increase and the traffic will be so high caused by there is a lot of the unconfirmed transaction.
Because the more transaction gets deprioritized due to the increase of the transaction fees.

Franky you are spreading FUD. Core did not replace anything, they just stalled normal Block size increases in favour of a new method to scale

more effectively. {SegWit & Lightning network} You and I know Block size upgrades alone are not the ideal way to scale aggressively. To add to

the scaling problems, we have idiots who spam the network. Stop with all the FUD please. Yes, Core is at fault, but they suggested a solution and

it was up to the community to decide, if they wanted it or not. Blame Gavin and his team for introducing BugCoin and stalling the process even

further.  >:(

The fees are increasing and will keep increasing for at least a few months from now on because of the blocks being full all the time. The only thing that could solve it asap is the uasf happening on 1st August, when nodes that are for uasf will stop accepting the blocks that don't support segwit and thus potentially create a new chain. Even though it is really risky and the price will most probably drop significantly the problem with the transactions not getting confirmed and the massive fees will be solved finally and bitcoin will be able to grow endlessly.

The reason why it is happening at the moment is not only because of the spam, the adoption rates of bitcoins have never been so high before thus blocks are just not big enough to be able to accept all the transactions that are being made. And it is really bad for bitcoin because the need to pay a few dollars for as small transaction as a dollar is just ridiculous. Thus, people started using bitcoin less and holding it more, while using other faster cryptos for everyday use as like dash or litecoin (which actually implemented segwit not a long time ago).
His talk does not have any proof and most probably is a lie. I wouldn't be surprised if he's just a BU shill bought by them to shitpost on bitcoin core. Basically the only reason why miners supporting BU don't want segwit is because their mining rewards would drop. People paying massive fees for transactions are kinda beneficial for them because they get more money than just for mining regular blocks with dust fees.

I think it's because of 2 reasons:
- the transaction size
- the big traffic to blockchain

Blame politics, greed and assuming control for that. Increasing the blocksize limit has been debated for 2 freaking years now. Back then, people are telling that "it's not necessary" since "we haven't achieved the same number of tx/s like Visa" handles. We are far from that, yes, but to think that we already need to pay a few dollars to get a few dollars going is nuts, let alone opposing the key reason why people should use bitcoin over bank machines and whatnot.

A growing demand for Bitcoin transactions and a fixed inelastic supply governed by a fixed 1 MB blocksize limit that is hard coded into the protocol.

Core is actively trying to damage bitcoin. Support a fork away to big blocks.

Satoshi disagreed.

The blocksize debate actually goes back all the way to 2010. Furthermore the problem may actually not have a solution since with a falling block reward fees will eventually have to be used to provide an incentive to the miners to secure the proof of work.

In short bitcoin got too popular so prices went up in fiat and fees also went up in satoshis/byte. The long version is the community cannot agree on how to move beyond this congestion.

I guess it is just a normal issues everywhere because the bitcoin demand is increasing because of the increasing bitoin users all over the world and then the bitcoin price will increase and normally the bitcoin fee will also increase in all wallet and every transactions you made i guess it is just a normal thing.

so the fees will keep increasing ? we will see in the future fees like 0.1/0.2... ? wow ! isn't this the thing that makes bitcoin different from other payment systems ? low fees right ?

Core seems more and more distant these days. They can't force Segwit and UASF is garbage. The devs barely even post in the forum anymore.

On a positive note, whoever was spamming the mempool seems to have let up:


https://blockchain.info/charts/mempool-size?timespan=60days (https://blockchain.info/charts/mempool-size?timespan=60days)


Fees won't go down, but at least confirmation times should be faster!

Why precisely would we alter the internal components that make Bitcoin what it is.  There are always some little children out there that have the inability to accept things as they are and want the world to alter itself to meet their specifications.  They will whine and cry and pound their fists and kick their feet because they believe it is the world's job to cater to them and not their job to work within the parameters that are there.

At the store the other day I saw a little old lady complaining that the store had stopped carrying the size of blueberries that she always buys.  She actually thinks that the store should alter their business to meet her singular needs and desires. 
 
If you want a coin with a bigger block size, create one yourself.  ;D

Satoshi was not perfect and if you speak to the developers that worked on the Bitcoin code after Satoshi left, they would have told you that his

coding was sloppy and messy. Yes, Satoshi though about almost everything, but the scaling for mainstream adoption was flawed. If you simply

increase the Block size, you would not scale to the volume of tx's that are being done by competitors like VISA & MasterCard & PayPal.  :(

With much bigger Block sizes comes additional risks too.  >:(

Indeed it is today there is still no solution the best in issue blocks or fee. Because it is the owner or creator of the bitcoin also still do not provide credentials, so that there is the possibility of this problem could be solved if the creators want to disclose so himself and then finding solutions globally. All of which isn't really a problem when we use the bitcoin for investment, as with all investments will be much better
 

I think that is because of some problems in the transaction right now. If you want a fast and quick transaction then you should pay high fee but if not youll pay low fee but you need to wait for a long time.

The current confirmation is fast（As long as there is no spam attack）

The common bitcoin, coupled with the rapidly increasing number of transactions per day, the number of blocks present can not meet that, and to ensure the speed of each transaction, the increased charge is the traffic charge. . This is causing a lot of frustration among users, and they are asking for bigger blocks, however, Core has refused this, and it is still controversial.

The fees for two reasons are spread across:

1. Bitcoin network has lots of traffic that has lots of traffic.
2. For your transaction size.

two reasons:
1.traffic
2. transaction size

People like you are the reason why Bitcoin is going down in dominance. A few months back, Bitcoin enjoyed more than 90% of the total crypto market capitalization. It has come down to around 40% now. Your comparison with blueberries is absurd. We are only asking for a bigger block-size, due to the delay in transactions and higher fees.