Bitcoin Forum

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it  because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

the fee is still comfortable to me. The price has doubled so you can not expect that the fee will be lower then. BItcoin cash has the lower fee but 8mb block is insane. This blockchain can easily be attacked and make the whole system collapse

It's because BCC became more profitable to mine, 40% of the miners switched over and BTC has been processing blocks much more slowly. In about an hour or 2, the BCC difficulty will retarget making BTC more profitable so they'll mostly switch back and fees will go down again.

CORE want you to do off-chain transactions and is about to introduce Lightning Network, and to push users into this new paradigm, on-chain transaction have to become very expensive, so you probably haven't seen anything significant yet.

This is why CORE has refused basically every single attempt to increase block size that now has proven to provide simple and easy scaling for Bitcoin on chain transactions.

This one is just another temporary congestion of mempool because of sudden shift of bitcoin miners to bitcoin cash which will change when mining difficulty will be readjusted in both chains. Miners will be back to btc mining and even if they will not blocks will be mined in every 10 minutes like before, this will also lower down the fee.

Bitcoin cash,seriously? There is this saying ,"If you are good at something,never do it for free!" I am not saying that the fees should definitely be the same or increase,you have to expect the fee to go up when the price goes up.So the fees will be increasing and you should not stop using bitcoin just because of its fees.Are you ready to give up on bitcoin just because you will have to pay a couple of bucks more for every transacion? No one is stopping you,go ahead.

Has "Make bitcoin dead again" FUD campaign begun? Gonna wait couple of day when it gets at full swing and buy.

Nobody is going to switch to BCC because its fees are lower. Once transactions would start piling up on that blockchain the fees would go up as well. In this world you get nothing for free. BCC is unpopular at the moment, so it's cheap and fast, but so are other altcoins. Some of them have instant transactions and still nobody is switching from BTC for that reason.

Agreed, these are good times for buying opportunities.

Bitmain is going full speed ahead promoting Bitcoin Cash. First, the pump. Then the "automatic BTC-BCC pool switcher" from Antpool. Hash rate is falling for BTC -- 1 block is being generated every 10.7 minutes. And now they are back to spamming the network: https://blockchain.info/unconfirmed-transactions Blockchain.info is showing nearly 100k unconfirmed transactions (almost 100 BTC in fees).

People have been threatening to leave Bitcoin a few months back due to the high fees and slow confirmation times, but yet they are still making use of Bitcoin. It's all empty talk from these people. Bitcoin is by far the best and safest network to conduct payments, and there is no altcoin that changes anything in that regard. People, and then mainly the blind chickens, don't realize that if whatever altcoin gets to experience the same level of growth as Bitcoin, it will go through the same difficulties. Take Ethereum as an example - this coin was stated to be a cheap and fast alternative, but turns out, the fees went up significantly due to the increased usage, and the network experienced difficulties. ::)

Significant numbers of miners are seriously moving their hashing power to BCC?  Is the difficulty so low that it covers the $3400 difference in price?

Well I think the fee for the transaction is good for me and I think that it is affordable for us especially at delivering with high price. For example I'm to transfer .1 btc and the fee for that let say .001 btc. I think that it is affordable for me. Can I ask what is the fee before? I just known bitcoin for about months.

I don't know the details about difficulty, but it is has dropped a lot for BCH vs. BTC. There are sites that track the difference in profitability, and Antpool is now implementing an automatic pool switcher depending on profitability. This is the biggest drop in the BTC hash rate I've seen in a very long time. It's bigger than any drop I can see in the 9-month chart. No matter how profitable it is to mine BCH, Bitmain is likely behind the majority of this drop.

op your  question is good.  If bitcoin' s fee increase people won't use bitcoin for small transactions.  For small transactions they will prefer fiat currencies only.just think, for a 10 dollar product who will spend 12 dollars? If the fee keeps on increasing like this people won't use it for buying stuff, they will hold it as investment only.

It's getting ridiculous....if the problems persist, the markets which accept bitcoin payments will switch over to a more economically sound platform.  I mean, who's buying coffee with bitcoin anymore?  The other day I was going to make a five dollar purchase but changed my mind when I realized the minimum transaction fee was 6 dollars!

If it becomes like this as always maybe all of people suffer for this and probably all bitcoins user maybe switch to other altcoins that pay lower price than bitcoins even me also

It means that being a miner is going to be extra profitable over the long run. Picking up extra transaction fees while the price increases must be nice.

Really makes me want to consider going in deeper with mining Bitcoins. Lots of potential here, especially with other alt currencies as well.

I really don't like the high transaction fees in the bitcoin. It really pissed me off because I can considered it as an expense. I hope the transaction fee will become low.

$2 for a $20 transaction seems too high as of the moment. And it doesn't get confirmed as soon as I want it. If it's true that some of the miners are transferring hash power to bitcoin cash, then that could mean even slower processing for bitcoin transactions, which is not good at all.

The fees of bitcoin continues to increase i think it is greatly influenced by the value of bitcoin that now keeps moving at a high value or bitcoin price it's at increasing price from before, of course it will affect bitcoin fees i guess. Just as the bigger what we get the greater the cost to be incurred, it is relatively happening to life as well in general.

As long as the amount of Bitcoin I send does not decrease much, I will tolerate a small or large fee. The bigger the fee, the faster our Bitcoin delivery will be. So, this does not matter. And usually, I convert BTC to DOGE, then just send it to avoid a large fee.

The fee you pay for each transaction is set at a certain percentage of the btc price. As a result, as the btc price increases, the fee will be increased accordingly. For Newbie members, they do not really agree with this fee, because the tradition they make are usually quite small and the fees they pay are not fair.

Fees is high because of high demand that eventually reflect bitcoin growth also so that only price increasing almost double so for me fees is quite fair as long as bitcoin value increasing .

Good topic. This is one of the things that I am concerned of as of now. If you look and observe it closely, the Bitcoin fees is gradually increasing. What is scary about this is that it can drag the number of bitcoin users down because they will be discouraged of it. With that, the lower users we will have, the lower the demand will have. And we all know that the lower the demand, the lower the price will be for the Bitcoin. The value of Bitcoin in general will decrease and other cryptocurrency may increase it's value against Bitcoin.

Nah I would rather pay the high fee than to switch to your bitcoin cash.
The fee is still reasonable for me as I understand the situation. The blockchain is too congested as many transactions happens every minute and the miners are getting less over time.  And of course bitcoin's price is geting higher and in return of that the high fee.

It is because of Bitmain and its constant promotion of Bitcoin cash. Bitcoin cash is becoming much more profitable to mine when compared to Bitcoin. Large numbers of miners are switching their mining power over to Bitcoin cash. This is becoming even more convenient to do especially since Antpool launched its “pool switcher”. Basically, miners can switch from either pool depending on mining profitability. This is causing massive fluctuations in hash power. It is a bit ridiculous. Before it was Bitcoin cash which had lost all of its hash power. Now, we are witnessing a massive change in power. I hope prices drop. That was the entire purpose of launching Segwit. For now, that plan has backfired.

What? 0.001 transaction fee to transfer 0.1 Bitcoin to another account. That is quite lucky for you. I am paying nearly 3 times that. But I think that is partially because my address has a high number of inputs. It is past time to fix that. Anyway forget about the amount that I pay, even 0.001 Bitcoin is a high price to pay. Do you know how much 0.001 Bitcoin is? It is around $4USD. Compare this rate with the amount you are paying to transfer 0.1 Bitcoin worth of fiat from one bank account to another. You are barely paying anything for a bank transfer. It is a fraction of the cost that you are paying for Bitcoin.

The fee was much lower before. Then we launched Segwit to fix everything. Unfortunately, this only seemed to aggravate transaction fees.

I think the bitcoin transaction price still makes sense with the number of bitcoin requests.
I personally do not feel the difficulty of the increase.

As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.

From what I have seen, the fee have nothing to do with the exchange rates. When the exchange rates were below $1,000 per coin in March, the average fee was around BTC0.0001. And this increased to BTC0.0010 to BTC0.0015 when the exchange rates increased to $4,000 per coin.

If the fees will continue to increase then a lot of people will get mad for that because they are here and using bitcoin because of the fast transaction and also cheap fees and if the fees will continue to get more expensive then they will think for transferring from bitcoin to another good coin with better and more affordable fee for every transaction.

The price increases and only depending on the price the transaction fee increases. So there is nothing as a flaw or something with the transaction fee. Once it was found big when majority of the transactions got stuck to the network which got solved in a short time period.

if alts which cheap in transaction process can be convert directly to a local fiat maybe it can be possible but as long as btc is the main crypto which can be easily be exchange to fiat so we cant do nothing but to wait for any solution from the core on how they can minimize the fees.

Well it is really increasing sort of i do have a transaction lately i do transfer a bitcoin to another wallet so that i could do buy a load for my mobile network then the fee is greater than my amount of bitcoin that ive sending. Thus now unlike before the price is we cant really feel it but now it is really big and also it really hurt us a lot, though the thing is you should send bitcoins in big transaction.

If bitcoin fees increases then obviously bitcoin price also increase because of huge demand also I am not seeing much fees it's fair till now may be for the new comer s in future it would see it expensive.

No one would move from BTC to BCC for the reason transaction fee is higher in BTC.If they had found this as a strong reason to move,then they would have moved much earlier to any other altcoin which provides quick transactions with very low fee.Just this month beginning,segwit has been activated.It would completely get locked in in november and from then,this high fee problem would get solved.

The biggest advantage of Bitcoin over Bitcoin Cash is that Bitcoin still has way more services and infrastructure built around it, compared to Bitcoin Cash.
Plus, the price of Bitcoin is still rising steadily, even with some price drops in between, it seems to hover around 4000 dollars consistently.

The high fees are merely a temporary nuisance anyway. 

The recent increase in fees is due to the fact that ~20% of the miners have transferred over to mine BCH in the mean time due to the low difficulty. Right now, due to the surge of BTC users in BCH, the difficulty has since increased by almost 2.5x and miners are now moving back to BTC. It's just a temporary and the fees have now been normalized.

It is really a pain now that some miners transferred to BCH resulting to long confirmation time and high fees. But it is not forever that they will mine on bch, soon they will realize bitcoin is still way better than BCH and more profitable in the long run.

I think the high fee only is the problem when you make a single micro transaction :))). And in my opinion transaction fee is not increaseing all the time :D. It'll be high when the bitcoin price low and get low when bitcoin price increase :D. For example last month when bitcoin price just about 1k7 - 2k you will have to pay 0.0008 BTC fee for your transaction on coinbase but now when the bitcoin price increase to 4k you just need to pay 0.0002 - 0.0004 for your transaction fee :D

It's not related to the exchange rate in any way at all. It's purely supply and demand. If there is a big backlog of transaction you have to pay more BTC to get to the front of the queue.

One of the weak hands of bitcoin is such high fees when it comes to making a transaction on chain. So, the issue must be resolved in order to have a daily use adaptation for bitcoin.

Many miners has switched to BCH as it more profitable to mine BCH now than bitcoins.That is why transaction are taking time to be confirm and are high fees.And soon mining in BCH will not be profitable and it's difficulty will increase then the miners will shift back to bitcoin.This high fees and long time for confirmations will be only for matter of time then after some time all will be normal.

I think the fees at now of Bitcoin is unreasonable, because need high than 0.006 BTC/kB. This is really highest fees in history of Bitcoin until today I know. I hope miner don't take advantage this issue and earn profit from it.

well the price of the bitcoin is very high and the fees of the transaction is fine for me and it affordable for the people now at the delivering with high price, for example I am to transfer I bitcoin and the fees of the bitcoin is .001 bitcoin. I think it is an affordable price for me and I am at bitcoin from just a month. At the past the transaction of the bitcoin was free of cost but it was very time requiring  it is very slow transaction.

Well they are using the fact that people are highly involved in bitcoin. The transaction network use it in wrong way and keep increasing fees. But that is one of the bad things that can effect bitcoin in future. People will stop buying bitcoin due to high transaction fee. And the issue can be solved by only us. If we stop transacting bitcoin somehow just for 1 month these network will come to their real value and it can be resolved.

So far the transaction now in the blockchain it can be said as moderate level, but in some other exchange platform the fee was really high, maybe because the bitcoin is also getting higher. which I saw and observed that the fee's up only depending on the bitcoin value too.

Fees grow to 10$. People are annoyed but they still use it.
Fees grow to 15$. People are making less and less transactions.
The mempool gets empty , there is enough space in the blocks, fees drop to 1$.
People start using bitcoin again more and more. Fees surge to 10$.

Rinse and repeat.

Bitcoin fees are actually still fair for all (considering that the value of btc now is high). High transaction fee means faster processing of transactions (put yourself on the miners and you'll realize). Miners will prioritize those who are paying higher fees than those paying lower fees. And fees are, I think, fix in terms of BTC (not in USD).

I think because of the fork that it will become fast tin terms of transaction and maybe about the increasing value in bitcoin.

The increase in transaction fees is inevitable. Although there will be some upgrade that would make the increase to slow down, at the end of the road, transaction fees will just continue to grow. Mining Bitcoin is becoming less and less profitable to miners so in order to cope with that issue, the only way to increase their profit is to increase transaction fees.

Now we are only at the beginning of the path. If we follow your logic, then how much will it cost to deal in the future? The miners were satisfied with the deal we will have to give them money? This is absurd. With this approach, bitcoins have no future.

IMO the rise in fees is unlikely with the current improvements that happened and incoming to the bitcoin world, most likely the fees will decrease with the provision of more space for transactions in blocks, but even if it doesn't fall, I don't see it rising much more than now, particularly if it's not needed within 1-2 blocks.

Recently, there has been a tremendous increase in the price of bitcoins. This attracted attention of many people which ultimately increased the demand of digital gold. With the increase in its supporters and investors, the number of transactions increased, so did the miners job. That’s why they increased the fee. It pretty much makes sense.