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Bitcoin => Bitcoin Discussion => Topic started by: maeusi on August 26, 2017, 02:08:43 PM



Title: BTC fees exploding and BTC will crash down
Post by: maeusi on August 26, 2017, 02:08:43 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Janation on August 26, 2017, 02:26:03 PM
As soon as possible, if fees will go down for a short price, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.

You wish. Bitcoin is pretty expensive so I don't think that the fees will be having a down run. Also, the miners need to be paid correctly, especially this time that the other alt coin is making a development about mining and may get the miners of bitcoin. If that happen, it may affect the transactions and the price.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Yoandy10 on August 26, 2017, 02:29:54 PM
Yeah, fees are getting out of hand. I think this might be the downfall of BTC - if fees keep rising and transactions get slower.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Welds1977 on August 26, 2017, 02:36:15 PM
Yeah, fees are getting out of hand. I think this might be the downfall of BTC - if fees keep rising and transactions get slower.
115000 satoshis on bitcoinfees21.co right now. its just insane , 5 dollars for say for a transaction. :o


Title: Re: BTC fees exploding and BTC will crash down
Post by: Akash1243 on August 26, 2017, 08:17:57 PM
I don't think Bitcoin would just die because of it's transaction fees as bitcoin is itself very high.Miners also need to be profited as Bitcoin mining is not that profitable now.But I do think fees will go down in some time and Bitcoin will be back to normal fees.I think this spike in fees is due to other crypto currencies mining becoming more profitable and mining are shifting towards them.


Title: Re: BTC fees exploding and BTC will crash down
Post by: BitcoinBarrel on August 26, 2017, 08:26:42 PM
Fees only seem ridiculous because the price of Bitcoin is so high. They have pretty much stayed the same...


Title: Re: BTC fees exploding and BTC will crash down
Post by: Variogam on August 26, 2017, 08:41:32 PM
Now imagine if Bitcoin fees go to 100 dollars for a transaction as Adam Back and similar nuts wish for. Thankfully most Bitcoin ecosystem finally agreed to implement SegWit2x in November which means immediatelly doubling Bitcoin capacity.


Title: Re: BTC fees exploding and BTC will crash down
Post by: helloeverybody on August 26, 2017, 08:55:49 PM
The higher the fees climb the less use cases bitcoin will have. Im sure already a lot of people dont even want to move bitcoin about due to the fees. To get around it any trades ive wanted to do ive had to do with alts and then change back to btc, not the best work around. Is this what bitcoin was destined to be?


Title: Re: BTC fees exploding and BTC will crash down
Post by: darkangel11 on August 26, 2017, 09:02:37 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
No, others won't follow you because others don't care about the fees, they care about the price. ;)

Aren't the fees actually lower right now than they were 2 or 3 months ago? I remember it was crazy back then. The price has grew by at least $500 and the fees went down. It's actually great if you look at the big picture. Stop whining and sell already, but don't say I haven't warned you. BTC is going up in the long run and it's going to go up by so much that you'll have so much money you won't care how high the fees are.


Title: Re: BTC fees exploding and BTC will crash down
Post by: stevrev on August 26, 2017, 09:03:54 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.

what are you basing this on? I'm relatively new to bitcoin and am really curious about why you believe this to be true. has it happened before, or is this more of a gut feeling?


Title: Re: BTC fees exploding and BTC will crash down
Post by: Adalbert on August 26, 2017, 09:07:31 PM
Stop complaining about the Bitcoin fees, they are not that huge. That's sure that if you want to transfer 1 or 2 dollars you will be in troubles, but what is good with Bitcoin is that you could send one million dollars for the same fees. SegWit will solve the problem a bit, but we are not in a crisis, stop exaggerating...


Title: Re: BTC fees exploding and BTC will crash down
Post by: joebrook on August 26, 2017, 09:09:26 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
I think this was to expected due to the surge in the value of bitcoins,the fees are just unrealistically and something needs to be done about it. The miners are demanding just too much money for that and I believe that as the value rises, the fees is going to rise as well.


Title: Re: BTC fees exploding and BTC will crash down
Post by: aakashsangwan on August 26, 2017, 09:09:57 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
No, others won't follow you because others don't care about the fees, they care about the price. ;)

Aren't the fees actually lower right now than they were 2 or 3 months ago? I remember it was crazy back then. The price has grew by at least $500 and the fees went down. It's actually great if you look at the big picture. Stop whining and sell already, but don't say I haven't warned you. BTC is going up in the long run and it's going to go up by so much that you'll have so much money you won't care how high the fees are.
Absolutely! The fees have gone down as compared to the last few months, and also the transaction time is also reduced for me. As in past I had to do priority transaction from bitcoin wallet to get my bitcoins reach in other address in a few hours, now a days I can do the same with economic transaction fees on my wallet.


Title: Re: BTC fees exploding and BTC will crash down
Post by: 1Referee on August 26, 2017, 09:11:49 PM
Fees only seem ridiculous because the price of Bitcoin is so high. They have pretty much stayed the same...

That. Another aspect that plays a major role is that people have no way of cashing out their faucet and captcha dust. In order to move that bit of dust they have burning in their wallets, they need to include a fee that is likely 100-200% of that amount, and remember, that's just to move it, lol. These people account for a major part of the complainers, that's for sure. Just look at how many complaints have flown into the direction of online wallet services that no longer offer free external transactions. I seriously don't understand why people till this day are still farming faucets and captchas, watching video ads for 6 satoshi per 30 seconds, etc. :-X


Title: Re: BTC fees exploding and BTC will crash down
Post by: hv_ on August 26, 2017, 09:16:29 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
I think this was to expected due to the surge in the value of bitcoins,the fees are just unrealistically and something needs to be done about it. The miners are demanding just too much money for that and I believe that as the value rises, the fees is going to rise as well.

SW is a slow starter.

Miners and others have signaled for bigger blocks long time ago. Bitcoin Cash works that way, as a proof of concept or prototype. But in a pole position to take over?


Title: Re: BTC fees exploding and BTC will crash down
Post by: The Sceptical Chymist on August 26, 2017, 09:24:33 PM
Yeah, fees are getting out of hand. I think this might be the downfall of BTC - if fees keep rising and transactions get slower.
I agree, Colorado boy.  You can't send dust anymore, and using faucets is even more of a waste of time, because I do believe it adds to your inputs, which then raises the fees when you go to send money.  Faucets are a colossal waste of time anyway, but some are fun.  Can't beat free money.

And the confirmation times, ugh.  I'm not going to call OP an idiot for wanting to hold altcoins, because some of them are good and the fees certainly beat bitcoin's.  But I don't think bitcoin's going to crash soon.


Title: Re: BTC fees exploding and BTC will crash down
Post by: bigars on August 26, 2017, 09:38:22 PM
It will be endless process. They will always find ways to increase capacity. BTC will never crash down


Title: Re: BTC fees exploding and BTC will crash down
Post by: maeusi on August 26, 2017, 09:39:54 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
No, others won't follow you because others don't care about the fees, they care about the price. ;)

Aren't the fees actually lower right now than they were 2 or 3 months ago? I remember it was crazy back then. The price has grew by at least $500 and the fees went down. It's actually great if you look at the big picture. Stop whining and sell already, but don't say I haven't warned you. BTC is going up in the long run and it's going to go up by so much that you'll have so much money you won't care how high the fees are.
I care about the fees, because they nearly reach 20 percent from the amount I send. I hope, that there will be soon a good solutiin for senders and miners.


Title: Re: BTC fees exploding and BTC will crash down
Post by: CoinOp on August 26, 2017, 09:44:46 PM
The fees matter more to the people sending small amounts of Bitcoin, as a fee could be a decent chunk of the total send.  Bitcoin will have more people spending small amounts in the future.  The faucets are something that might just be phased out if they continue as they are giving away much less than a transaction fee is nearly useless.


Title: Re: BTC fees exploding and BTC will crash down
Post by: GreenBits on August 26, 2017, 09:45:12 PM
Yeah, fees are getting out of hand. I think this might be the downfall of BTC - if fees keep rising and transactions get slower.
I agree, Colorado boy.  You can't send dust anymore, and using faucets is even more of a waste of time, because I do believe it adds to your inputs, which then raises the fees when you go to send money.  Faucets are a colossal waste of time anyway, but some are fun.  Can't beat free money.

And the confirmation times, ugh.  I'm not going to call OP an idiot for wanting to hold altcoins, because some of them are good and the fees certainly beat bitcoin's.  But I don't think bitcoin's going to crash soon.

Amen. I used to have a "dustbin" wallet on coinbase, I would send a super low fee and point all my dust at that one wallet, for the sake of organization. that is a fools errand nowadays, either you will perish waiting for it to confirm, or a decent fee will eat you alive :)

the fees have everything and nothing to do with the price, OP. Higher prices of course mean higher fees, thats how this works lol, the fees are denominated in BTC. But rising fees will never make the coin crash, so to speak, it will just make the network volume go down. people are quickly figuring out that bitcoin, at the moment, isnt the best choice for "small, casual transactions". in fact, unless you are transferring more than 100 USD worth of value, you should probably consider using a different medium of exchange than bitcoin. there are actually cheaper, faster alternatives. Hell, a money order through the mail, comparatively, is a better option, given that it is at least reversible :)


Title: Re: BTC fees exploding and BTC will crash down
Post by: cengsuwuei on August 26, 2017, 09:49:43 PM
bitcoin sending fee down
i think not big effect about bitcoin price, but if bitcoin problem about sending not sending fee, bitcoin price can crash and down price


Title: Re: BTC fees exploding and BTC will crash down
Post by: Ultegra134 on August 26, 2017, 11:24:38 PM
It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Mike Mayor on August 26, 2017, 11:30:07 PM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.

That's doesn't sound right that can't be.


Title: Re: BTC fees exploding and BTC will crash down
Post by: pixie85 on August 26, 2017, 11:45:06 PM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.

That's doesn't sound right that can't be.

And it isn't. I don't know where he's taking these numbers from but at the moment a fee of  0.001 BTC per transaction will get it confirmed in the first block.
This is $4 at current prices not $30, please do the math before you start with this FUD again.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Ultegra134 on August 26, 2017, 11:48:54 PM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's ridiculous, I just checked how much I would have to pay to deposit to Kraken via BitGo Wallet, amount to be sent 0.0172 minus the fees..which are 0.0066 BTC! That's almost $30! What kind of joke is this.

That's doesn't sound right that can't be.

And it isn't. I don't know where he's taking these numbers from but at the moment a fee of  0.001 BTC per transaction will get it confirmed in the first block.
This is $4 at current prices not $30, please do the math before you start with this FUD again.
FUD?What are you even talking about. Most people here seem like trolls.
See for yourself then, even in average priority, 12 Blocks, it's 0.0058
https://i.imgur.com/uVBZrTj.png


Title: Re: BTC fees exploding and BTC will crash down
Post by: manchester93 on August 26, 2017, 11:50:35 PM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Warry on August 26, 2017, 11:57:43 PM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
And in someday while the fees when use Bitcoin very high, the user of Bitcoin will transfer to other altcoin cheap price soon. This is reason don't have cryptocurrency can stand still #1 forever ;D.


Title: Re: BTC fees exploding and BTC will crash down
Post by: DoublerHunter on August 27, 2017, 01:28:33 AM
The fee of bitcoin is not exploding but only the fiat value of it in USD because of the price spike of exchange rate of bitcoin, the price of the fees are up too so if you really observe the fees then you can say that it is a normal phenomenon in bitcoin because of the growth of its community so the network got loaded up too so it needs more fees for the miners to work more.


Title: Re: BTC fees exploding and BTC will crash down
Post by: phr0stbyt3 on August 27, 2017, 03:22:21 AM
Fees doesn't matter you are holding a online currency or asset who's price is almost 4300$ and you are sad because the fees is what 5$. I'm not aware of how many bitcoins you are holding but the way you are exaggerating it seems you have some 0.01 or even low. If you want you can sell just for fees but in long run fees will be nothing


Title: Re: BTC fees exploding and BTC will crash down
Post by: Seansky on August 27, 2017, 04:16:50 AM
Fees doesn't matter you are holding a online currency or asset who's price is almost 4300$ and you are sad because the fees is what 5$. I'm not aware of how many bitcoins you are holding but the way you are exaggerating it seems you have some 0.01 or even low. If you want you can sell just for fees but in long run fees will be nothing
Fees will matter in the long run because if this problem doesnt get solved soon, Bitcoin will lose many of it's users just because sending money through btc is too pricey and many use it to send money online with cheap fees and convenience, but I wouldnt call a 5$ fee a cheap one and convenient if I were going to send a small amount of money so this must be fixed soon I hope. Fees right now IMO is reasonable for large transactions but not for small ones.


Title: Re: BTC fees exploding and BTC will crash down
Post by: manchester93 on August 27, 2017, 05:33:27 AM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
And in someday while the fees when use Bitcoin very high, the user of Bitcoin will transfer to other altcoin cheap price soon. This is reason don't have cryptocurrency can stand still #1 forever ;D.

Well, maybe, but altcoins may not be necessary. Sidechains essentially are altcoins, but they can interact with the BTC mainchain. The Lightning Network may also make altcoins obsolete from "cheap fees" perspective. The thing is, no altcoin has solved that essential problem: how do you provide cheap fees at scale and retain decentralization?


Title: Re: BTC fees exploding and BTC will crash down
Post by: Carlsen on August 27, 2017, 06:22:11 AM
The fees are not so bad. Have you ever used a bank ? Their fee's are insane. Yes I understand when sending small amounta it can get pretty costly it's why I like to bulk send. I don't think it's anything to worry about but I do think other altcoins abould be used for smaller payments and that solves the problem.

It's not good to compare to bank fees, at least in the long term. Over time, BTC fees will be much higher than any banking fees, if it reaches the values people expect (six or seven figures USD). Fees have no relation to fiat money; they are built into the protocol with its native currency (BTC). Micropayments will hopefully be possible on the Lightning Network or sidechains, but they will always be expensive on-chain.
And in someday while the fees when use Bitcoin very high, the user of Bitcoin will transfer to other altcoin cheap price soon. This is reason don't have cryptocurrency can stand still #1 forever ;D.

Well, maybe, but altcoins may not be necessary. Sidechains essentially are altcoins, but they can interact with the BTC mainchain. The Lightning Network may also make altcoins obsolete from "cheap fees" perspective. The thing is, no altcoin has solved that essential problem: how do you provide cheap fees at scale and retain decentralization?

The fees are a problem to traders, and those who want to make payments with bitcoin.
When you are a long term investor, the fees will disturbe you not that much.
I suppose that much of the money that is in bitcoin right now is brought by long term investors.
So I do not see a crash or anything like that coming due to the fees in the near future.
But a solution must be found, because the situation right now (and the discussion that comes along with it) brings a lot of uncertainty.
And uncertainty is something long term investors do not like.


Title: Re: BTC fees exploding and BTC will crash down
Post by: maeusi on August 27, 2017, 06:22:20 AM
I sent 0.029 and paid 0.0041 BTC. If that is a small amount, then bitcoin is not ready to be integrated to shops or as official currency. Then it is only for investors.


Title: Re: BTC fees exploding and BTC will crash down
Post by: ekoice on August 27, 2017, 06:30:44 AM
Fees is going higher and it is deliberately done by the miners.Transactions are remaining unconfirmed for more time either because the miners need more fee or many miners have started mining BCC.We could hope that these issues get solved once segwit 2x is activated in november.Bitcoin is now suffering in a critical situation ,first BU,then now BCC.Its not good for the reputation of bitcoin.Regarding high transaction fee,long term investors would not consider it as an issue.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Sithara007 on August 27, 2017, 06:31:08 AM
I sent 0.029 and paid 0.0041 BTC. If that is a small amount, then bitcoin is not ready to be integrated to shops or as official currency. Then it is only for investors.

This is insane. You paid almost $18 as the fee. But I have a suggestion. If you are ready to wait for 5-6 hours, then use Blockchain.info and calculate the transaction fee using the "low priority" option. Instead of BTC0.0041, you may need to pay around BTC0.001 (which is still quite high).


Title: Re: BTC fees exploding and BTC will crash down
Post by: jzone23 on August 27, 2017, 06:38:19 AM
Btc High transaction fees really sucks but I dont think we can control this and I think it would be hard for ypu to convince people to sell btc and hold other altcoins instead to make transaction fees low since people are holding btc due to rapid increase.


Title: Re: BTC fees exploding and BTC will crash down
Post by: qwerth on August 27, 2017, 06:43:07 AM
year back it was in cents, now fees has gone to dollars range. 18 dollars is insane


Title: Re: BTC fees exploding and BTC will crash down
Post by: Juggy777 on August 27, 2017, 06:46:11 AM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.

No very bad idea, fees are high no doubt but that doesn't mean that you sell btc when low fees come and hope to get back in, you never may get back that chance ever thought of that. I would say you choose electrum wallet set your own fees, transactions will happen slow but at least you will save on your fees. High fees or not, never giving up on bitcoins, it's the best and it's only a matter of time before fees come down.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Sithara007 on August 27, 2017, 06:49:11 AM
Btc High transaction fees really sucks but I dont think we can control this and I think it would be hard for ypu to convince people to sell btc and hold other altcoins instead to make transaction fees low since people are holding btc due to rapid increase.

No guarantee that Bitcoin will remain at the top if the transaction fee climbs even further. Will you be happy to pay a transaction fee of $30? Altcoins such as Bitcoin Cash can make use of this situation.


Title: Re: BTC fees exploding and BTC will crash down
Post by: crazyivan on August 27, 2017, 06:57:38 AM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.

Another shill.

Sure, I m gonna sell my BTC now cause you d want me to do so. Bravo, bravo!


Title: Re: BTC fees exploding and BTC will crash down
Post by: Soutogu on August 27, 2017, 06:59:08 AM
Support the coins you see a real use for! If the fees and transaction times are too big, switch to something you consider better, there are plenty of options out there! I hope more people change, because the way it is right now with BTC is not the best...


Title: Re: BTC fees exploding and BTC will crash down
Post by: maeusi on August 27, 2017, 07:09:23 AM
I sent 0.029 and paid 0.0041 BTC. If that is a small amount, then bitcoin is not ready to be integrated to shops or as official currency. Then it is only for investors.

This is insane. You paid almost $18 as the fee. But I have a suggestion. If you are ready to wait for 5-6 hours, then use Blockchain.info and calculate the transaction fee using the "low priority" option. Instead of BTC0.0041, you may need to pay around BTC0.001 (which is still quite high).
Thank you for your great advice. Will do in next transactions. A few hours to wait wouldn't bother me


Title: Re: BTC fees exploding and BTC will crash down
Post by: MAbtc on August 27, 2017, 08:59:32 AM
Btc High transaction fees really sucks but I dont think we can control this and I think it would be hard for ypu to convince people to sell btc and hold other altcoins instead to make transaction fees low since people are holding btc due to rapid increase.

No guarantee that Bitcoin will remain at the top if the transaction fee climbs even further. Will you be happy to pay a transaction fee of $30? Altcoins such as Bitcoin Cash can make use of this situation.

Have you considered the long term economic premises underpinning Bitcoin? It needs limited capacity to provide fees post-subsidy to continue incentivizing miners on the most secure network in the world. Providing this level of PoW security is not cheap. The protocol requires that fees be paid in BTC (it can't have any relation to fiat money value and still be decentralized).

So, if one BTC is worth a million dollars someday, you can bet that fees will be higher than $30. :P Altcoin developers/promoters can only exploit the situation regarding those who think that BTC is for providing cheap fees.


Title: Re: BTC fees exploding and BTC will crash down
Post by: joseafonso123az on August 27, 2017, 09:12:51 AM
This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing,  it will become difficult to move coins around.


Title: Re: BTC fees exploding and BTC will crash down
Post by: figmentofmyass on August 27, 2017, 09:32:37 AM
This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing,  it will become difficult to move coins around.

i wouldn't say it's a disadvantage, per se. it's that BTC and fiat currency serve very different purposes, and rising transaction fees make this increasingly clear. decentralization has high costs in terms of efficiency and security. (banks and other fiat-interfacing entities can sidestep a lot of BTC's inefficiencies by relying on centralization.)

so, the fees that we are paying ensure that our payments get processed -- no matter what they are for, or who they are paying. that's the beauty of decentralization, and you don't get that freedom with banks. but it comes with a cost. the miners need to be paid. for now, the security is still being subsidized by block subsidy, but over time, fees need to rise more and more.


Title: Re: BTC fees exploding and BTC will crash down
Post by: carcassone on August 27, 2017, 09:37:44 AM
we are paying high tx fees with btc because get confirmation fast require... money!
it's expensive, there is literally not enough space for all txs. It's simple, more people use btc, more txs, more fees.
This is not a problem after all. People can also use other crypto meanwhile unconfirmed txs are too much and wait mempool decrease.
Just patience, or using other coins, or paying high fees.


Title: Re: BTC fees exploding and BTC will crash down
Post by: milewilda on August 27, 2017, 09:42:23 AM
we are paying high tx fees with btc because get confirmation fast require... money!
it's expensive, there is literally not enough space for all txs. It's simple, more people use btc, more txs, more fees.
This is not a problem after all. People can also use other crypto meanwhile unconfirmed txs are too much and wait mempool decrease.
Just patience, or using other coins, or paying high fees.
Using another coin is really an alternative if you do really like to avoid those huge fees on bitcoin payments but regarding on my situation i didnt make active transactions regarding on bitcoin transfers thats why i didnt really bother at all about fees. On my local wallet provider you would need to pay up almost $10 on a single transaction which is insane and also to the things above been mentioned by some people having $18 is crazy.


Title: Re: BTC fees exploding and BTC will crash down
Post by: gribble on August 27, 2017, 09:47:59 AM
I don't think bitcoins fees transaction will be impact to bitcoin's price down because bitcoin's fees sending transaction increased due to the activation of segwit2x was still unstable, it needs more research and fixing from developers and comunity, bitcoin's price down is normal just fluctuating of price, it will be hit $5000 after the lightning network/segwit2x be stable.


Title: Re: BTC fees exploding and BTC will crash down
Post by: drwhobox on August 27, 2017, 09:51:12 AM
Well it's because there is alot of transactions on the blockchain happening right now that's whycthe fees are on the moon high. But, this really sucks. I'm guessing that in the next 5-10 years bitcoin fees would go up to 20-30 Usd per transaction. Hoping this segwit works good soo that the transaction fees may go down.


Title: Re: BTC fees exploding and BTC will crash down
Post by: zikabra on August 27, 2017, 09:51:57 AM
Fees only seem ridiculous because the price of Bitcoin is so high. They have pretty much stayed the same...
Not really the same because fees went up. I remember times when transactions were fast with only 10K satoshi fee.
I sent 0.029 and paid 0.0041 BTC. If that is a small amount, then bitcoin is not ready to be integrated to shops or as official currency. Then it is only for investors.
Send transaction with 100sat/b fee, you will wait a little longer but you won't pay insane fee.


Title: Re: BTC fees exploding and BTC will crash down
Post by: carcassone on August 27, 2017, 11:04:22 AM
Well it's because there is alot of transactions on the blockchain happening right now that's whycthe fees are on the moon high. But, this really sucks. I'm guessing that in the next 5-10 years bitcoin fees would go up to 20-30 Usd per transaction. Hoping this segwit works good soo that the transaction fees may go down.

maybe also more. because if each btc can be valued around 10k or 100k each tx fees will growth exponentially, and we can't (maybe we need!) forget old tx fees (around 10 cents for small ones confirmed within 6 blocks / 1 hour).
Space and time for the blockchain is expensive, and probably we are seeing the first "leverage" because not all people could afford 20$ or more for each tx.


Title: Re: BTC fees exploding and BTC will crash down
Post by: lighpulsar07 on August 27, 2017, 12:47:50 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
The fees isn't bad at all. It's all the same tx fee but due to the price it is high

Well no one cares. if you want to sell your btc, sell it now don't wait the fees go down because the fees won't drop sooner or later and also please don't make us implicate your stupidity and leave this forum i hope you will regret your decision


Title: Re: BTC fees exploding and BTC will crash down
Post by: pawanjain on August 27, 2017, 01:07:53 PM
bitcoin has a great demand in the market and as the days are passing more number of people are using bitcoin for some purpose. The fee seems huge to us because we deal in a small amount but that amount is itself huge for us because of the high price of bitcoin . This is the reason the transaction fee seems huge to us.
Day by day the price of bitcoin will keep increasing further and hence the transaction fee will seem more high to us but that  is a thing which we cant do anything about. So make your decisions wisely.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Fire Rabbit on August 27, 2017, 01:17:43 PM
We cant tell BTC will crack down because of its high price. But yeah it will affect people who do small transactions especially who are in micro earning industry like PTC, GPT , PTP sites like that and those who do trading with small amounts. But it's not going to affect people who are involved in other industries because they deal with hugh amounts of btc. For them giving 0.002 btc or 0.001 btc as fees is a small amount.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Chyton on August 27, 2017, 01:20:56 PM
I'm pretty sure if bitcoin developer have solved the scaling problems then bitcoin transaction fees will be low enough, as of now there are many transactions waiting to be included into a block. So if you're paying median fees then you'll need to wait couple of blocks, but if you're paying the highest fee available then the next block will definitely include your transactions. Cheers.


Title: Re: BTC fees exploding and BTC will crash down
Post by: AK47- on August 27, 2017, 01:28:00 PM

As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
Why would I sell my Bitcoin?
There is hardly any effect of high fees on Bitcoin price. Price is increasing regardless of increase in fees. Most of us use Bitcoin as an investment asset (for growing our money). When it is successfully giving high returns in short period and way too less risky than altcoins, then why would I shift to altcoins?


Title: Re: BTC fees exploding and BTC will crash down
Post by: Rinder on August 27, 2017, 01:53:28 PM
Yesterday i made a transaction with 40k satoshis as fee, the sugested fees were around 130k satoshis, and when i got a warning saying my trasaction could not confirm due to low fee input, but for my surprise my transaction has been confirmed within around 4 hours of waiting. Bitcoin wont go no where, we are into the first days of segwit implementation, and well lets see how those will handle the spam attack.


Title: Re: BTC fees exploding and BTC will crash down
Post by: alyssa85 on August 27, 2017, 02:27:55 PM
Support the coins you see a real use for! If the fees and transaction times are too big, switch to something you consider better, there are plenty of options out there! I hope more people change, because the way it is right now with BTC is not the best...

I think most people who are moving money from exchange to exchange are using litcoin, ether or other alts to avoid fees.

The issue is for those who have their bitcoins in their own wallets at home. They have no choice but to pay bitcoin fees if they want to buy something or cash out at an exchange.

I wonder if one of the consequences is going to be people abandoning their own wallets and keeping money in regulated exchanges (where they can easily swap for an alt if they want to move money).


Title: Re: BTC fees exploding and BTC will crash down
Post by: maeusi on August 27, 2017, 04:40:09 PM
Support the coins you see a real use for! If the fees and transaction times are too big, switch to something you consider better, there are plenty of options out there! I hope more people change, because the way it is right now with BTC is not the best...

I think most people who are moving money from exchange to exchange are using litcoin, ether or other alts to avoid fees.

The issue is for those who have their bitcoins in their own wallets at home. They have no choice but to pay bitcoin fees if they want to buy something or cash out at an exchange.

I wonder if one of the consequences is going to be people abandoning their own wallets and keeping money in regulated exchanges (where they can easily swap for an alt if they want to move money).
So did I, before I saved them in my wallet. Transfered always with doge or bitcoin on poloniex. But as there were many threads about deposit and withdraw issues, I keep btc on my wallet. It would be good to have a secure wallet (for me on android) with exchange like on coinomi, but without need to transfer :)


Title: Re: BTC fees exploding and BTC will crash down
Post by: stevebc on August 27, 2017, 04:42:32 PM
The higher the fees climb the less use cases bitcoin will have. Im sure already a lot of people dont even want to move bitcoin about due to the fees. To get around it any trades ive wanted to do ive had to do with alts and then change back to btc, not the best work around. Is this what bitcoin was destined to be?

I've not dabbled in alts....is there no fee to buy BTC with an alt?


Title: Re: BTC fees exploding and BTC will crash down
Post by: Fancyax on August 27, 2017, 04:44:29 PM
Bitcoin is no more for small transactions. For big transactions these fees are meaningless face of security.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Netnox on August 27, 2017, 05:02:17 PM
The higher the fees climb the less use cases bitcoin will have. Im sure already a lot of people dont even want to move bitcoin about due to the fees. To get around it any trades ive wanted to do ive had to do with alts and then change back to btc, not the best work around. Is this what bitcoin was destined to be?

I've not dabbled in alts....is there no fee to buy BTC with an alt?

If you convert BTC to alt, the maximum fee may be 0.1% or 0.2%, depending on the exchange. So many of the users are converting their BTC to alts such as BCH and ETH, and withdrawing these alts to another exchange using a low fee. Once the coins are deposited in the second exchange, they convert the alts back to BTC. The overall fee may be 1%, which is better than 4% or 5% which we need to pay while exclusively using BTC.


Title: Re: BTC fees exploding and BTC will crash down
Post by: buharikx31 on August 27, 2017, 05:06:55 PM
Yes, fees are really high right now for small transactions 3.5$ for 1 transaction that's not a cheap price, i will recommned to look at IOTA no fees, faster confiramtions and the technology really intresting against normal cruptocurrencies


Title: Re: BTC fees exploding and BTC will crash down
Post by: BillyBobZorton on August 27, 2017, 05:13:24 PM
The spam is obvious at this point. Don't fall for the scammers. Bitmain and Roger Ver are behind this, look at the mempool graphs, this is not organic growth, and the timing is again obvious, right after segwit and right before the segwit2x propaganda campaign begins to be sold as the savior of Bitcoin to get all the noobs on board that only care about getting cheaper fees.

Don't fall for it, or you will be victim of scammers. Use another coin or pay an higher fee during the spam attack, rushing a hardfork is not the solution.


Title: Re: BTC fees exploding and BTC will crash down
Post by: esatceza on August 27, 2017, 05:18:22 PM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
I think the lottery tickets are falling down while Bitcoin girls are getting higher so it's impossible for you to wait for a drop in fees. In addition, increasing fees mean faster transaction time and better transaction quality, so complaining about fees is meaningless.


Title: Re: BTC fees exploding and BTC will crash down
Post by: killerfrost on August 27, 2017, 05:21:56 PM
As soon as possible, if fees will go down for a short price, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.

You wish. Bitcoin is pretty expensive so I don't think that the fees will be having a down run. Also, the miners need to be paid correctly, especially this time that the other alt coin is making a development about mining and may get the miners of bitcoin. If that happen, it may affect the transactions and the price.

I agree with your opinion. Bitcoin is growing, which means that fees will increase, so expecting a reduction in fees is unlikely. Miners need to be paid to maintain Bitcoin's performance so that portion of the fee is reasonable and satisfactory when you still make a lot of money from Bitcoin.


Title: Re: BTC fees exploding and BTC will crash down
Post by: omonuyak on August 27, 2017, 05:31:36 PM
You can not separate bitcoin fee from bitcoin price! The more expensive bitcoin became the high fee we would see. Bitcoin price will not clash because of the transactions fee, what course the downfall in any assets especially security is it value. Many people has created strong value for bitcoin and no matter what happens for years to come bitcoin will keep growing. We would not see clash now even if transaction fee increase many times.


Title: Re: BTC fees exploding and BTC will crash down
Post by: swogerino on August 27, 2017, 05:34:34 PM
The fees exploding is because of the price of bitcoin rising a lot. It is the same in bitcoin but in Fiat cash money it is more so people are afraid of these high fees. I am not afraid as I know this is the actual price to use bitcoin right now and I don't see it as an expensive one. Bitcoin helps me a lot in my every day life so I pay the fees without complaining.


Title: Re: BTC fees exploding and BTC will crash down
Post by: raymond541 on August 27, 2017, 06:46:21 PM
Transaction fees now really problem for small amount sender.blockchain now charging almost $3 fees for every transaction which is really high for who want to sending under $100.I see every block have 90% transactions are under $100 transaction.people are loosing their hard working money.if block size not increase bitcoin will fall in big trouble.


Title: Re: BTC fees exploding and BTC will crash down
Post by: BingoDog on August 27, 2017, 06:53:09 PM
Higher fees are new reality and we just have to accept that. It's true that bitcoin transactions are much more expensive now but I don't think this is the reason why bitcoin would crash, this is not going to happen. Very small transactions are the problem because of fees but for all others I think that fees are fair enough. For all benefits we have from bitcoin we can't complain.


Title: Re: BTC fees exploding and BTC will crash down
Post by: SimonJones on August 27, 2017, 06:54:15 PM
Bitcoin is not for small transactions. There are so many other coins that can do that. High fees will not affect the price.


Title: Re: BTC fees exploding and BTC will crash down
Post by: RayX12 on August 27, 2017, 06:58:51 PM
BTC fees and backlog are controlled by the miners.  Of course they can get rid of spam or low-fee transactions if they wish!

Just look here for the mem pool backlog for the last week:
https://jochen-hoenicke.de/queue/#1w

BTC fees and performance is totally in control of the miners.
When some miners moved to Bcash then there is not as much competition for mining in BTC and the miners cherry pick the transaction with big fees, as a result the mem pool increases with unconfirmed transactions.


Title: Re: BTC fees exploding and BTC will crash down
Post by: virtualkeybuyer on August 27, 2017, 08:15:12 PM
year back it was in cents, now fees has gone to dollars range. 18 dollars is insane
It is sad but true. The transaction fees are very high now, beyond what most of us can afford. However, if look at the reason behind its development, BTCs were basically created for large transactions only and when it comes down to that, the fee is still very cheap as compare to any other means. For micro transactions, we need to give it some more time.


Title: Re: BTC fees exploding and BTC will crash down
Post by: joebrook on August 27, 2017, 08:25:37 PM
Bitcoin is not for small transactions. There are so many other coins that can do that. High fees will not affect the price.
I think I was very lucky today because I made a transaction on blockchain.info and even though I was expecting to pay above  $1 for the transaction fee, I ended up rather paying  $0.50 in all that's definitely a win considering I paid above a dollar for a transaction yesterday.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Pab on August 27, 2017, 08:27:45 PM
Not best news for merchants and customers,ltc is now much better for merchant,eth is coming with his new version for merchants


Title: Re: BTC fees exploding and BTC will crash down
Post by: BigBoy89 on August 27, 2017, 08:44:41 PM
People need to learn - BTC is for saving values, not for paying your coffee. Other coins are for fast and small transactions.

Many are comparing BTC and Gold. DO you pay your daily expenses with gold? It's the same here.


Title: Re: BTC fees exploding and BTC will crash down
Post by: manchester93 on August 27, 2017, 09:36:42 PM
Bitcoin is not for small transactions. There are so many other coins that can do that. High fees will not affect the price.

Not just other altcoins. In time, sidechains integrated via soft forks could allow other payment systems that can transact directly with the BTC chain. Similarly, coins can be locked into payment channels, enabling users to continually transact for very minimal fees, since their transactions don't need blockchain confirmation (except to open and close channels).


Title: Re: BTC fees exploding and BTC will crash down
Post by: Superzpay on August 27, 2017, 09:43:15 PM
This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing,  it will become difficult to move coins around.
Miners would have make this high and there may be a strong part of whales in here. I think you are right, this will be a bad effect on the usage of bitcoins if only the transaction fees are going high. There should be an average fee rate for all the coins but what is trending, it is not good for bitcoin.


Title: Re: BTC fees exploding and BTC will crash down
Post by: FasTroy on August 27, 2017, 10:01:22 PM
This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing,  it will become difficult to move coins around.
Miners would have make this high and there may be a strong part of whales in here. I think you are right, this will be a bad effect on the usage of bitcoins if only the transaction fees are going high. There should be an average fee rate for all the coins but what is trending, it is not good for bitcoin.
I don't know the fees are incredible like that, Now, according to bitcoinfees.21.co , they said that the transaction fee is currently 420 satoshis/byte, which it's too high. It's around 95k satoshis. I think because of the high use of bitcoin, I mean the number of transactions in 1 seconde increased.

I hope that this high fees will be fixed one day.


Title: Re: BTC fees exploding and BTC will crash down
Post by: unbotak on August 27, 2017, 10:04:46 PM
This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing,  it will become difficult to move coins around.
Miners would have make this high and there may be a strong part of whales in here. I think you are right, this will be a bad effect on the usage of bitcoins if only the transaction fees are going high. There should be an average fee rate for all the coins but what is trending, it is not good for bitcoin.

I object to the transaction fee increase, if the higher it will appear minimal transaction patterns and will damage the passion of users who are accustomed to bitcoin transactions in small quantities. This is a serious problem that will happen when bitcoin is full mined and will bring a lot of game and speculation from the miners.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Ultegra134 on August 27, 2017, 11:25:28 PM
People need to learn - BTC is for saving values, not for paying your coffee. Other coins are for fast and small transactions.

Many are comparing BTC and Gold. DO you pay your daily expenses with gold? It's the same here.
I agree, Bitcoin is mostly an investment opportunity, same concept with gold. Many people still believe that Bitcoin or any other cryptocurrency can take over the world and bla bla bla. It's just not possible. I don't think that any cryptocurrency can be used for daily usage, at least currently.


Title: Re: BTC fees exploding and BTC will crash down
Post by: DoublerHunter on August 27, 2017, 11:34:01 PM
People need to learn - BTC is for saving values, not for paying your coffee. Other coins are for fast and small transactions.

Many are comparing BTC and Gold. DO you pay your daily expenses with gold? It's the same here.
I agree, Bitcoin is mostly an investment opportunity, same concept with gold. Many people still believe that Bitcoin or any other cryptocurrency can take over the world and bla bla bla. It's just not possible. I don't think that any cryptocurrency can be used for daily usage, at least currently.
Bitcoin and any other cryptocurrencies are now starting to be recognized by the world and a lot of people are now interested in bitcoin and other cryptocurrency so if there will be an adoption from a certain country and if the country have a lot of bitcoin supporters then there will be a high possibility that they will treat bitcoin as a money and because of that their stores will accept bitcoin and they can use it on a daily basis.


Title: Re: BTC fees exploding and BTC will crash down
Post by: mornabo on August 27, 2017, 11:50:40 PM
This is something that might happen. If the value continues rising like this, and if it's for the profit of the miners, we will start seeing transaction fees of $100. One of the advantages BTC had were the low fees, now this looks like a disadvantage against fiat. And if the transaction fees continue growing,  it will become difficult to move coins around.
Miners would have make this high and there may be a strong part of whales in here. I think you are right, this will be a bad effect on the usage of bitcoins if only the transaction fees are going high. There should be an average fee rate for all the coins but what is trending, it is not good for bitcoin.

I object to the transaction fee increase, if the higher it will appear minimal transaction patterns and will damage the passion of users who are accustomed to bitcoin transactions in small quantities. This is a serious problem that will happen when bitcoin is full mined and will bring a lot of game and speculation from the miners.
I think it has made many users to be reluctant to make transactions using bitcoin. Of course users will increasingly rarely use bitcoin to spend because they see a very high fee from bitcoin. imagine it takes $ 1 for each transaction, it is very expensive


Title: Re: BTC fees exploding and BTC will crash down
Post by: robelneo on August 27, 2017, 11:52:48 PM
Yeah, fees are getting out of hand. I think this might be the downfall of BTC - if fees keep rising and transactions get slower.
115000 satoshis on bitcoinfees21.co right now. its just insane , 5 dollars for say for a transaction. :o

Other site charges more, so if you are going to transfer make it big amount it is insane to transfer small amount with a big fee
I had one transaction that need to be confirmed asap that I picked $12 transaction fee because I have no choice


Title: Re: BTC fees exploding and BTC will crash down
Post by: Skol600ml on August 28, 2017, 12:14:39 AM
https://image.prntscr.com/image/MXv0pg0TRQmpLBE1H7jnVg.png
https://image.prntscr.com/image/qYZw8J_JRouTYimeYf653A.png

BTC fee is expensive because can't handle the number of transitions per seconds because it's flawed, it's a bottleneck. SIMPLE LIKE THAT

Stop this all the bullshit about BTC price, "Asset", "That's is good".


Title: Re: BTC fees exploding and BTC will crash down
Post by: trecore4 on August 28, 2017, 06:59:32 AM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.


You should wait for sometime as there might be some chances to earn profits in this current scenario. For example there are chances that due to high fees no transaction will occur which means no one is buying and selling the bitcoins, the end result would be low market cap for temporary period of time leading to downfall of bitcoin and the price coming to lowest. This opportunity can be grabbed to buy bitcoins and full the wallets with cheap bits. Later of course price will go up and you can easily make profits. :-)


Title: Re: BTC fees exploding and BTC will crash down
Post by: stevebc on August 28, 2017, 07:22:26 AM
The higher the fees climb the less use cases bitcoin will have. Im sure already a lot of people dont even want to move bitcoin about due to the fees. To get around it any trades ive wanted to do ive had to do with alts and then change back to btc, not the best work around. Is this what bitcoin was destined to be?

I've not dabbled in alts....is there no fee to buy BTC with an alt?

If you convert BTC to alt, the maximum fee may be 0.1% or 0.2%, depending on the exchange. So many of the users are converting their BTC to alts such as BCH and ETH, and withdrawing these alts to another exchange using a low fee. Once the coins are deposited in the second exchange, they convert the alts back to BTC. The overall fee may be 1%, which is better than 4% or 5% which we need to pay while exclusively using BTC.

Interesting, I guess that makes some good sense for smallish transfers - with the bigger transfers $5 bucks not being much percentage wise.
So people are unofficially doing off chain transactions - they don't want to wait for Lightning to make things cheap!


Title: Re: BTC fees exploding and BTC will crash down
Post by: Mtoo on August 28, 2017, 07:33:46 AM
Yes fees is too high we're not going on that and we have to do something for reduced  fees by Daily writing we are not satisfied .


Title: Re: BTC fees exploding and BTC will crash down
Post by: redhopper on August 28, 2017, 09:22:08 AM
i think the other way around. as bitcoin network clogs , pumpers take advantage to situation and pump it.


Title: Re: BTC fees exploding and BTC will crash down
Post by: TrumpD on August 28, 2017, 03:58:57 PM
The fees are not ideal, but to say it will crash is overstating things. You can wait until the network is less busy, which is when transaction fees will go down.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Skol600ml on August 28, 2017, 06:41:01 PM
The fees are not ideal, but to say it will crash is overstating things. You can wait until the network is less busy, which is when transaction fees will go down.

People want to more business to adopt BTC. People wants to buy things on the street with BTC. People wants to BTC to became popular. Easy like a pre-paid or post-paid card, even easier than paper.

Do you will pay low fee and wait 8 hs to pay for you meal so you can leave the restaurant? You will check the network to see if it's a good day to eat with BTC? Or you will pay a tax that would be 25% of the total bill?

They all looks bad.


Title: Re: BTC fees exploding and BTC will crash down
Post by: samuraijin on August 28, 2017, 07:55:10 PM
Even though the fees is high, i'm sure there won't be any problem if you want to sell your bitcoin if you have lots of bitcoin or use low fees. But let's hope SegWit2x works well without bug so we can enjoy segwit & bigger block.

Agree with what you say But the important thing is we hope with SegWit2x work well without bug so we can feel and enjoy Segwit & bigger block.


Title: Re: BTC fees exploding and BTC will crash down
Post by: digaran on August 28, 2017, 08:07:25 PM
You don't get to give ultimatum to the people working hard just to make sure everything will go as smooth as possible, for now we haven't yet increased the block size so it's natural to see the fees rising as the price does the same so as the traffic of unconfirmed transactions.
Many of the members of this forum believed that Bitcoin will soon die due to high fees and slow network but all we have seen since was the exact opposite.
BTC is here to stay it's up to us if we want to keep using it then we should deal with it.


Title: Re: BTC fees exploding and BTC will crash down
Post by: manchester93 on August 28, 2017, 10:10:40 PM
The fees are not ideal, but to say it will crash is overstating things. You can wait until the network is less busy, which is when transaction fees will go down.

People want to more business to adopt BTC. People wants to buy things on the street with BTC. People wants to BTC to became popular. Easy like a pre-paid or post-paid card, even easier than paper.

Do you will pay low fee and wait 8 hs to pay for you meal so you can leave the restaurant? You will check the network to see if it's a good day to eat with BTC? Or you will pay a tax that would be 25% of the total bill?

They all looks bad.

Paying a restaurant or any merchant for a relatively small amount isn't ideal. It might look bad now, but with payment channels, we won't need to wait for confirmations; payments will be instant. The first step towards getting there (at least regarding a scalable Lightning Network) was fixing transaction malleability with Segwit. Hopefully by the end of the year, we will start seeing LN transactions.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Emoclaw on August 28, 2017, 10:44:03 PM
The fees are not ideal, but to say it will crash is overstating things. You can wait until the network is less busy, which is when transaction fees will go down.
The network is busy due to spam attacks, this was also the case before Segwit2X was announced.
You can't really 'wait them out' unless miners stop doing them.
The swiftest solution would be a PoW upgrade.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Filmmmakerr on August 28, 2017, 10:47:46 PM
Guys stop complaining, the prices will not affect bitcoins future. However, I feel that segwit will help lets just give it sometime.


Title: Re: BTC fees exploding and BTC will crash down
Post by: joshy23 on August 29, 2017, 02:40:57 AM
The fees are not ideal, but to say it will crash is overstating things. You can wait until the network is less busy, which is when transaction fees will go down.
The network is busy due to spam attacks, this was also the case before Segwit2X was announced.
You can't really 'wait them out' unless miners stop doing them.
The swiftest solution would be a PoW upgrade.

The spam has stop about a month ago, then we wonder what happened? But then 'they' are back spamming and clogging the network. We can also speculate as to is behind all of this by asking who are going to benefit from it? Your answer is as good as mine.

Guys stop complaining, the prices will not affect bitcoins future. However, I feel that segwit will help lets just give it sometime.

You can't stop them from complaining about the fees. However, why are they still in the bitcoin ecosystem and then complain? They totally contradict themselves. LOL. What don't you go to other altcoins that is has a very quick confirmation time? I guess we are all here because bitcoin price is going some places now and the possible profit is really huge in the future for just hodling into it. So I'm not complaining.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Sithara007 on August 29, 2017, 02:56:27 AM
Guys stop complaining, the prices will not affect bitcoins future. However, I feel that segwit will help lets just give it sometime.

We are complaining because we feel that the high fees can have a negative impact on the popularity of Bitcoin. Already altcoins such as Bitcoin Cash and Ethereum are taking advantage of the situation. If the fee increases any further, then there is even a chance of Bitcoin losing its position as the dominant crypto-currency.


Title: Re: BTC fees exploding and BTC will crash down
Post by: romani245 on August 29, 2017, 03:03:47 AM
Guys stop complaining, the prices will not affect bitcoins future. However, I feel that segwit will help lets just give it sometime.

We are complaining because we feel that the high fees can have a negative impact on the popularity of Bitcoin. Already altcoins such as Bitcoin Cash and Ethereum are taking advantage of the situation. If the fee increases any further, then there is even a chance of Bitcoin losing its position as the dominant crypto-currency.

People have been making this argument for two years now. I don't think it's any more effective of an argument today than it was back then. I think it's best to approach BTC development with no regard for competition from altcoins.

Many BTC users want to see higher fees. Just compare fee revenue vs. subsidy revenue for miners. Fees need to increase much more to pay for the same level of security when the subsidy dries up.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Anfisman on August 29, 2017, 03:25:54 AM
Today the bitcoin fee's is very high, The transaction fees may be affected by several factors. One of those is the size of the block in Bitcoin's blockchain, which is limiting the number of transactions that can go through at any given time. Bitcoin's network is powered by miners, people and companies who use a tremendous amount of computing power to create new bitcoins. And when there's too many transactions to process which currently happens very often miners will prioritize transactions that pay a higher fee. 

I think the way right now is by choosing the right wallet and making sure we use the optimal fee.


Title: Re: BTC fees exploding and BTC will crash down
Post by: drm on August 29, 2017, 03:39:49 AM
It has always been discussed, and it is actually a more effective argument nowadays.
And it will be even more if btc prices go up in the future, it will be one of the deciders..payment solution or store of wealth.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Netnox on August 29, 2017, 04:29:11 AM
Many BTC users want to see higher fees. Just compare fee revenue vs. subsidy revenue for miners. Fees need to increase much more to pay for the same level of security when the subsidy dries up.

I am a bitcoin user and I definitely don't want the fee to go over $0.30 (the fee charged by Visa). Miners already get a reward of BTC12.5 in the form of block reward. They should not get too greedy. Bitcoin is still in its infancy and the miners need to wait until the user base increase to 100 million or 250 million. If they increase the fee now, then it will negatively impact the adoption.


Title: Re: BTC fees exploding and BTC will crash down
Post by: nethan1btc on August 29, 2017, 06:58:10 AM
It has always been discussed, and it is actually a more effective argument nowadays.
And it will be even more if btc prices go up in the future, it will be one of the deciders..payment solution or store of wealth.

I don't really care much of those possibilities to  come and those arguments of such exploding fees is no an issue here but the contentment of a person. Since bitcoin earning isn't taxable well fees will rise higher of price also went expensive. It's more like with government taxes when a certain product or business do have bigger sales, well taxable deductions also will be applied based on the regulations implemented by law.


Title: Re: BTC fees exploding and BTC will crash down
Post by: OneUnderBridge on August 29, 2017, 07:08:52 AM
Maybe Bitcoin Cash would be cheaper to use than bitcoin? If more businesses start using bitcoin cash because it's cheaper to use then maybe bitcoin would be replaced?


Title: Re: BTC fees exploding and BTC will crash down
Post by: haroldtee on August 29, 2017, 07:16:57 AM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.
Over time, this fee issue will settle and be a thing of the past. Moreover, I don't see this fee issue being a downfall of bitcoin as what most people do not know is that there is already a lot at stake, so many investments centered on bitcoin. However, none of us know what happens tomorrow so we are all assuming now.


Title: Re: BTC fees exploding and BTC will crash down
Post by: drm on August 31, 2017, 12:36:45 AM
Maybe Bitcoin Cash would be cheaper to use than bitcoin? If more businesses start using bitcoin cash because it's cheaper to use then maybe bitcoin would be replaced?

They are all claiming it's cheaper but in reality it;s just the price difference between bitcoin and bitcoin cash keeping it "cheaper". Makes no sense to use this argument really.
Unless you're talking about bch introducing some different kind of fee.


Title: Re: BTC fees exploding and BTC will crash down
Post by: bitcoinmaniac52 on August 31, 2017, 01:13:47 AM
Bitcoin fees vary depending on the time of day and how many people are using the network. Right now the PRICE is exploding, which is causing unprecedented network congestion.


Title: Re: BTC fees exploding and BTC will crash down
Post by: bamboylee on August 31, 2017, 01:22:23 AM
This argument has already been discussed before and is already getting old.

Bitcoin will not crash just because the fee is high. If it will be the cause, it could have happened long ago because there are lots of alts with way lower tx fees. There is many uses of bitcoin. It could have failed to be a currency, but others uses is still good.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Kaller on August 31, 2017, 10:46:06 PM
"BTC fees exploding and BTC will crash down"

No, no it won't. Fees are not that high unless you need your transaction processed instantly. THEN you will have to pay a lot. Otherwise they are still not that bad.


Title: Re: BTC fees exploding and BTC will crash down
Post by: 6Asmodeus6 on August 31, 2017, 10:54:19 PM
The fees are quite normal with the prices.Of course it's not fair to the people just started using bitcoin but can you imagine that BTC was worth $2.400 just 2 months ago.Thats a insane progress.The transactions are increasing , the prices are increasing we can't expect fees to be same.I want them to reduce too but it's almost impossible now.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Ngewex Yuk on September 01, 2017, 12:10:25 AM
yes right, currently bitcoin transaction fee feels expensive, 0.001 btc or equivalent to $ 4.5 and need about 6 hours to be used by the recipient. I hope bitcoin can lower the fee to make it better.


Title: Re: BTC fees exploding and BTC will crash down
Post by: GreatOrchid on September 01, 2017, 12:22:50 AM
Yes the fees are so high right now, but you must know that actually bitcoin is more for holding purposes. Now that are are more altcoins in the market you can easily send money fastly and cheaper if you use other coins like Ethereum, it is listed in almost every store that accepts bitcoin.
But yes, they are so high and it is a little bit impossible to send low amounts of money because of fees, if you send only $5 you must pay $7 for fees and that is ridiculous.


Title: Re: BTC fees exploding and BTC will crash down
Post by: perla on September 01, 2017, 12:28:58 AM
yes right, currently bitcoin transaction fee feels expensive, 0.001 btc or equivalent to $ 4.5 and need about 6 hours to be used by the recipient. I hope bitcoin can lower the fee to make it better.
are you sure if bitcoin's fee lower it can be better ? it only better for user not miner, just follow the rules and about 0.001 btc equivalent to $4,5 it is because the price.


Title: Re: BTC fees exploding and BTC will crash down
Post by: vasrasus on September 01, 2017, 12:36:11 AM
yes right, currently bitcoin transaction fee feels expensive, 0.001 btc or equivalent to $ 4.5 and need about 6 hours to be used by the recipient. I hope bitcoin can lower the fee to make it better.
are you sure if bitcoin's fee lower it can be better ? it only better for user not miner, just follow the rules and about 0.001 btc equivalent to $4,5 it is because the price.
Bitcoins transaction fee will increase as long as btc valie imcrease. Let's face it btc will continue to incrrase without us noticing that it reaches the value we thought it counld just reachafter years yet can only happen in a month. Crashing down will never happen.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Rahar02 on September 01, 2017, 12:44:53 AM
As soon as possible, if fees will go down for a short time, I will sell Bitcoin and hold other cryptocurrencies and hope others will also do so until fees go down.

Stupid idea obviously, I'm not sure what you mean? If fees will go down for short time? Or if fees won't go down?
Current price of bitcoin continue to increase and fees problem already resolved by segwit activation.
But, not all wallet platforms release new updates which support segwit addresses just like electrum wallet https://twitter.com/ElectrumWallet/status/900591309521596416


Title: Re: BTC fees exploding and BTC will crash down
Post by: Ilegendph on September 01, 2017, 01:00:49 AM
Fees only seem ridiculous because the price of Bitcoin is so high. They have pretty much stayed the same...
I agree with this one, the transaction fees of bitcoin is not constant because its price goes up and down, volatile in short. But the rate of transaction is constant. For example you would change  your btc to an altcoin and the price of that btc at that time is high then if multiplied to the rate the answer would be also high and vice versa if the the price of btc is low.


Title: Re: BTC fees exploding and BTC will crash down
Post by: Somz1 on September 01, 2017, 04:29:00 AM
We just have to wait until segwit gets property integrated to see those fees go drastically down
The Lightning network also will contribute to this in future