Bitcoin Forum

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

I personally use this website: https://bitcoinfees.21.co/
But it look like you need to put 301 satoshis/byte or more to be sure the transaction will be confirmed, and apparently the transaction could take some days with this fee.
Edit: Bad satoshi/byte indicated in first time

I noticed this too in my transaction yesterday. I actually thought with the whole segwit activation, we will have a lower transaction fee. Seems it has increased more than we even had before. Is this how we are going to keep going or there is something I am missing out here.

Smart users and money are switching to Bitcoin Cash. It will take over soon so get it while you can still get 1:1 and better on your Corecoins!

Bitmain is deliberately mining empty blocks, while also spamming the network and moving its hash to bcash just to cripple bitcoin. All the current problems are of bitmain's doing. Never forget, bitmain is the enemy.

https://cointelegraph.com/news/antpool-asicboost-share-blame-for-bitcoin-network-delays

This is what happens when mining centralizes and one miner gets too much power.

And this is where the issue is and its not unconnected to the fact mining bitcoin is practically impossible without heavy machines which can only be afforded by few organisations that are only for profit motive and in this case, they tend to use the power of monopoly to derail the development course of things but unfortunately there is nothing anybody can do about it and the developers who could do more are much interested in creating their own version of bitcoin.

The transaction fee is in Bitcoins and if it was like 0.2$ before when the price for bitcoin was like 400-500$ you can't do anything now with such high prices in dollars. I suggest you to keep ypur money and to save some bigger amount before to cash it out to not spend so much for fees. You will not find any cheaper place than Blockchain.info actually.

I still hope that some other large mining pool takes the place of Bitmain since they're the ones pushing these problems in the fees and unconfirmed transactions. If we can't further decentralize mining, then maybe it's time to move to a new algorithm which will enable other small-time miners to catch up in the game and to not let the power be controlled by a few leftist cunts.

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

If this is what is really going on as I have  not carry out any transaction of late then its unfortunate that after the whole news about August 1 or Segwit of the 23rd are all meant for selfish interest if it wont reduce or even abate the situation pre all this period and now we are back to the point where we started if not worse now.

Im yet to send my first bitcoin transaction but I've heard that the fees have been very high as of recently. However with the whole segwit thing the fees should be lower but I am not sure if they actually are. I think your transaction will be confirmed eventually but it will take quite some time.

Do not worry about these fees. See, soon Lightning Network will be introduced and there will be more fees allowed than even VISA or other credit cards and it will only be $0.05 per transaction. :)

I hear you, brother. Just wait until LN comes and we will look back and wonder why it wasn't introduced a long time ago. At least, hopefully. :D

The transactions are outrageous I have some Bitcoin right now but there is no way I can move it or at least would because the fees are too high I will wait until they go down before even trying to move it anywhere.

If you're talking like that, I get the feeling that you are looking to move just a few bucks worth of coins, am I right? Either way, you aren't being forced to pay the highest fee if you just make use of desktop clients. If you have the patience, you can go with a lower fee, but you will need to accept that you will have to wait for several hours before your transaction gets confirmed. I personally haven't been experiencing much difficulties as mostly all my transactions contain fees 50% lower than what is being recommended, and they in 95% of the cases still get confirmed by the next block. I just avoid to move small numbers of coins since miners seem to grant larger transactions with lower fees far more priority.

The transaction fee is insane right now, something is seriously wrong. Hopefully things go back to how they were a few days ago. Reasonable fees and fast confirmation times. Bizarrely the price is on the up considering the madness.

Seems, that I lost 0 008 BTC, because my fees were accidentally to low. Tried VIA BTC accelerator but limit always is reached and my fee is lower than 0.0001. Tried double spend. Sent same amount to my own btc adress with higher fees 0.001.But doesnt seem to work.

That's probably not a good idea, transferring without a good reason is a complete waste of money, as the price consistently going up it is better not to do an unnecessary transaction as much as possible, as of now only big amount is better to transact than low amount because it is too much for the amount you'll about to transfer.

I just noticed that the default fee increasing again that i think looks like the segwit is not helping a lot to decrease the fee or increase the speed of the transaction ..  look at the bitoinfees.co right now the default fee was increase more again and it will be increase more and more soon..
And i think this because other miners are going to mine bitcoin cash instead of staying mining with bitcoin who can do confirm transaction..
For now better to wait more days to see what will be the help of segwit..

In my opinion the bitcoin market value is increasing and sky rocketing in a price that really unexpected and increasd up to 4500$ which is really high i guess having this market value it is reasonable to make a high fee in the case of market value to balance the transaction also.

Even though they have such high fees whenever you want to send money, i yesterday saw that you can be able to tweak the fees and though it may delay the transaction from being confirm early, it does go through so then pay all the money they are asking for in terms of transaction fees especially if its not that urgent.

Last week I use coinbase to send 40 dollars worth of bitcoin but the transaction fee is 0.001 bitcoin and thats very big because 0.001 bitcoin is not easy to get. Why the transaction fee until now is very high I expected after the august 1 the fee become lower but Im wrong after august 1 the transaction fee become higher I hope soon the fee will become again lower 1 dollars or it will back again to the 20k satoshi.

As the msrket value of bitcoin increases i guess the fee also increases at thjs point to balance the rate of fees but i guess there are jist some wallet that is taking advantage of this increase value and they going to increase the rate at a suprr high rate.

I don't think that it is possible to get verified with your transaction for just 0.2 USD fee because that is a very small amount of bitcoin for the miners and they are always basing on amount of bitcoin in fees for transactions and not on fiat or dollar based so i think there is no excuse for paying high fees.

Yes it's quite a disappointment that transaction fee is that high now. Before, it is just easy to send a small amount cause the transaction fee is low. I am hoping that it will be lower in the future cause if I only have small amount then it would just be eaten up by the transaction fee if I wanted to send it to other wallet.

"Omg guys my silver transaction cost 1300 pesos" what the hell does that mean!? Like what the hell OP. Ya I know you haven't posted in a while (or ever?) Because you literally don't even understand you're paying Satoshis per byte. How many bitcoins did your bitcoin transaction cost ffs!? Make... more... sense!

what the hell, this article doesn't explain anything! specially regarding ASICboost which is the main subject of it! it just gives some data that we all knew prior to this and are mostly copy paste of all over the internet and then ends the article with the most vague two lines:

"The motivation behind boycotting SegWit transactions lies in suspected use of ASICBOOST by miners, a function which manufacturer Bitmain had previously denounced.

“[Using ASICBOOST], however profitable, is not something we would do for the greater good of Bitcoin,” the company wrote in a blog post in April."

what does this even mean?
the 80K unconfirmed transactions weren't SegWit transaction to boycott or whatever, they are normal tx. and i don't get how the ASICBoost comes in here either!

The fees is so high. Yesterday there was 40$ in my wallet.  I want to send them in bittrex exchanger. I thought the fee will 2$ but when I went to sent them I saw that the fee is 4.83$. Almost 5$. This is so sad for us.

This is what I've been talking about lately, Bitcoin isn't going to be your next go to "digital" cash but it's going to be a "digital" gold. There are other altcoins or yet to be found that is more promising to be a digital cash.

I have been expecting the same too that with that August 1 SegWit there would be better fees and lightning-fast turnover of transactions. Apparently, it has not yet happened and I think we have to wait for November when there would be a better upgrade. As of now, Bitcoin leaders are still entangled with so many debates, accusations and counter-accusations leaving Bitcoin not the way it should be. Hope things will finally be solved before the year ends.

It can't be help when somebody is sabotaging the network. Unconfirmed  transaction is rising again thus the tx fee is also rising. I do not think moving to bch or any alts that have faster confirmation and lower fee is a solution either. They have that now because it does not have that much transaction yet.

I dont think so. But i will not gonna do that if i were. $5 dollar is the normal fee charge to every transactions being made. If you put $0.2 fee to your transactions. You'll get stuck because the fee you entered is very low. That sucks. So to avoid inconvenience. Just put the fee on normal fee. I also thought that this problem will be fix as soon as the segwit is finished. But it's not. So owning bitcoin these days is very hard and expensive. Specially to those small people like me. $5 is too high for me because i usually have few bucks to send.This problem should be address on the next upgrade. They better figure this out. If not, BCH/BCC will take over.

It sucks though, the fee become high again, it is because so many unconfirmed transaction and if you want fast confirmation you need to pay the fee more. The last time i send 0.015 to another wallet and the fee is 0.000119 and it takes 1 day to wait until the transaction confirmed, i even use txid accelerator to make it fast. If you want decrease the fee, try customize the fee and lower it and use txid accelerator to make your transaction confirmed become fast.

Currently, Bitcoin tractions are very slow. One of my withdrawal from bitsler withdrawal stuck for more than 15 hours and still didn't receive yet. Bitsler system told me if I use 40K Santoshi fee then after two blocks it will confirm but until now the transaction is not confirmed yet. If these things happen to new users then mostly they will lose the confidence in these transactions.

I've had transactions go through in 1-5 hours with 25-50 satoshis/byte.  Earlier today, I swept the last $3 worth out of Bitcoin Core onto my Trezor, and set the fee at 5 satoshis/byte:

https://blockchain.info/tx/fefae7ed63cb5171f11ba32c82d1d68f313b8e6da34578eb478be145c82bde6a

Let's see if this goes through, and if it does, how long it takes.  One transaction a while back took a day and a half to confirm...don't recall how low I went with the fee, though.

One more observation...have a look here:

https://blockchain.info/stats

As of now, they're reporting 98 blocks found in the last 24 hours.  The normal pace would be somewhere around 144...thought I'd heard some pools were shifting mining power off of Bitcoin, so that would account for that.

More interesting than that, though, is the transaction-fee total: about BTC421.97.  Divide that evenly across 98 blocks and you get about BTC4.31 per block.  That's about a third of the value of the current block reward.  At some point, transaction fees are supposed to surpass the block reward, and for that to happen, they'll first have to approach the block reward...but did anyone think it might happen this soon?

If you just want to make micro transactions than xapo and coinbase are the only option you have because they don't have fee for their off chain transactions.

Fee depends upon size of your transactions but currently minimum fee is over $5 because mempool is full with unconfirmed transactions most of them are just to spam bitcoin network. Wait for few more days when all this spam transactions will be dropped from mempool.

Yes, wallet devs should update their codes to suitable for segwit, and we have oto move all of our bitcoin to the new address.
Current transactions fees are inconvenient as it's too high for now, and look at unconfirmed transactions, more than 86K and BTC63 total fees waiting for the miners. So, I recommend don't do any transaction at the moment until segwit and wallets synchronized, fit to each other. If you are using electrum, read this; https://twitter.com/ElectrumWallet/status/900591309521596416

...and it finally got accepted after about 4 days, 18 hours.

0.001 BTC fee goes through in an hour or so when using an accelerator, otherwise it will take days. But this is the fee that I'm willing to pay for sending few bucks, so an hour I'm fine waiting even if it takes tricks to get through with, but otherwise it's just ridiculous.

This is the frustration about Bitcoin, as the price of the bitcoin increases so do its' transaction fees. It is pain in the ass to transfer bitcoin almost 1-2$ fee is needed to transact. I can buy something might be useful. Hopefully in the future the transaction price will drop to decimals

This is a lie!

I guess the transaction will get verified with a lower fee but it would take an hour, the moment that I noticed the high fee I was getting lightly irritated because it would spend a certain amount of satoshi which is much larger that the amount that I was going to transfer to an external bitcoin wallet . And that is the reason why I don't transfer to exchanges and trade because it would be so much expensive from the moment you deposited your money to the moment that you are going to withdraw .