Bitcoin Forum

Bitcoin network fee is at like $34 right now.
When will they go back down?

This is a big problem. I am sure that next year the idea of increasing the size of the block will be continued. Continue to pull the impossible. But I'm not afraid of high price transactions. I do it once at the time when transferring a large sum into the account on the exchange. then I just change the coins for Fiat and don't pay such fees.

I don't transfer bitcoin often as well, but in my view this shouldn't justify the high transaction fees. Not everyone moves thousands of dollars with each transaction as well, so you have the danger of the fee costing more than the transaction itself, which is never a positive thing, of course.

what coin is better for transaction's to pay less? I mean, not to pay such fee, for bitcoin transaction. Doge-coin or smth like that?

They will go up cuz bitcoin price is going up.

I know your pain especially on your pocket because you buy a lot of food with amount of money but wait a little longer a according to articles that i read online, lightning network is currently testing on the main bitcoin network and they were successful and they said this is a game changer so, sooner or later this will be implemented on main network and let's see lightning network can do when they will implement it.

The fees could be reduced if more wallets would implement Segwit or if users started to switch to wallets that do support it. But there's a permanent solution coming that will make the network much faster and reduce the fees significantly, it's called the lightning network. It could support over 1 million transactions per second and still register them on the blockchain. However that's a technology that's still being developed so it won't solve the problems tomorrow.

Of course, yes, I also like it, the idea itself implies low duties

Nope.  You could quite comfortably (https://bitcoinfees.earn.com/) send a transaction with fees of 100 satoshi/byte if you were willing to wait a while, which would result in fees of about $4 for a non-SegWit transaction with one input and one output.

Perhaps you are sending an unusually large transaction; your wallet software is sending an unnecessarily high fee; you're sending a high-priority transaction; or a combination of both.

The fees are very high, but the fee you're talking about is atypical.
They would go down in three possible occasions:

-Major services actually start using SegWit
-The hype dies down and people don't need to desperately send for their trading
-Another scaling solution is implemented

Bitcoin transactions usually occur for free if the amount of Bitcoin shipped exceeds 0.01 BTC. Bitcoin in small quantities is given to miners as a reward for processing the transaction and putting it into blockchain. For now, most transactions are processed for free, but for deals that attract coins from multiple Bitcoin addresses so that it requires a larger portion of data, it will incur very small transaction costs.

The recent rise in transaction fees and just mind blowing.i am pretty sure the fees are being increased just to deter bitcoin holders from selling.
Probably after hitting 20k the fees might drop a little.

Bitcoin transaction fees is big problem. BTC transaction descorrege due to fees.
So transaction fees should be very low :-[

Yes, actually they are a little bit high. I think that this problem needs quickly a solution because nowadays it is not that easy to send micro transactions for trading fast.
By the way you can use alternatives for sending funds to exchanges (for example digibyte as a low transaction fee)

The higher the demand the higher will cost is, I know when the bitcoin pump higher the cost of every transaction become higher too, correct me if I'm wrong or depends on the wallet you use when you are going to transfer it, but there is a two segwit that would happen i think it is one of the reason why the price of transaction became higher just wait it to back to normal

Bitcoin has a transaction fee system to handle situations where demand for the network exceeds its capacity. Whenever someone submits a transaction to the network, they have the option to include a transaction fee that goes to whichever miner includes that transaction in a block. if there are more transactions than will fit into one block, miners can be expected to choose the transactions with the highest fees first.

Because the price of bitcoin is higher so the transaction fee is getting higher cause of demand. If the value of bitcoin pumps down the transaction  fees become down.

or the protocol starts measuring in 100byte/sat instead of 1byte/sat
lame brain developers think the protocol cant go below 1byte/sat without having to add millisat units if measure. but they are wrong. it can be done, if they really thought about it.

also a new fee priority formulae could be added that actually works.

This has been a routine thing of BTC. Moment the price begins to rise the network fees booms along with it. Regular transactions demand more than 250Sats/byte. I am eagerly waiting for lightning network which would drastically reduce the transaction times and fees involved. This increasing fees is making btc more  of an investment and asset than a medium of exchange

This is going to be a major problem as the price rises we could even get to the point this could stop bitcoin from making any progress. As we get to the point where it costs more for transactions than what's been sent.  

Rising of transaction fee in bitcoin will surely hurt those small time holder of this coin. This will be a big problem in the future. I know some bitcoin holder now convert their coin into other altcoin to avoid this high fees. If the demand and price will still continue to increase, i dont think it will go back to lower fee

Really the bitcoin transactions fees is too much and still taking a good amount of time to get confirmed. There are many people who are saying that the high transaction issues will be solved till next year and hope so it does get solved. Such high fees could be a big problem for small bitcoin holders. Will they pay for the product or fees?

In my opinion thats the biggest flaw of the bitcoin technology. The fixed-size blockchain of 1 MB and each block can contain a certain amount of transactions so when the network is saturated the miners ask you for more money so you get priority in that little allocated space.

It is too high!! The authority should be alert to keep the fee low.

If the price of the transaction fee increases further, Bitcoin will begin to be used simply to store funds or pay for large accounts, and for other settlements, another currency will be used.

I thought that a transaction with a little fee would mean the transaction could possibly take ages due to the miners only wanting to go for the transactions with the highest fees. They would literally forget about the lower fee transactions for a while as obviously they want as much as they can get right? That's why I thought there would be no point in sending with a lower fee

These wallets taking advantage of btc price. Their fee is going high up the wazoo as well!! Your profit from holding btc is like nothing cuz it gets eaten anyway by fees! @##$@!

I don't think it is logical to pay 7-15$ to bitcoin transaction.

I can understand to pay when sending 1btc or more but for little transfers it is frustrating. Also even with this fee it takes days sometimes. Hate sending btc.

High fees and slower transactions have been and will always be a problem concerning the blockchain network, this is in my opinion a default of how bitcoin became difficult to mine, and since miners are the ones who verify transactions makes them slow, so a few numbers of miners meet with the huge number of transactions lead to pay high serve first, the higher the transaction fee the faster the transaction, and I am sure that this is one of the side effects of having bitcoin be so popular, and it will stay the same until mining becomes viable for anyone and not just for the big companies that have millions worth of mining hardware.

The problem is so bad people decided to use litecoin to transfer value instead to the point where litecoin is down on Coinbase.

Hopefully there will be new miners :X ... you can watch the unconfirmed transactions out there here https://blockchain.info/charts/mempool-count , at least for now the amount seems to shrink a little and so should the fees.

I'm always checking it at https://bitcoinfees.earn.com/ and it's still too high. No one knows when will the fees go down. Before I'm paying $1 per transactions and I think that's already high before since transactions aren't too expensive but now paying more than $10 per transaction? It's really too high if we don't pay the recommended fee, it will be stuck in the network for days or even weeks.

Adding miners doesn't really help.  The network is designed to have 1 block mined about every 10 minutes and the blocks are only 1M long.  The max bandwidth is pretty much fixed.

I change my BTC first in doge and then sent it. Have to pay 3 doge for it. I think more people use altcoins for withdrawing

yes, should wait for the market stability

This is an alternative way if you want to pay cheaper fees, I've seen this technique on social media and is being done by many traders. But I prefer to transfer bitcoin>bitcoin transaction, most of us are thinking that it's hassle to convert it first with any altcoin but others are seeing it as a solution to the network problem plus with the increase of fee.

The fee is really hurting small transactions but the increase is just a small fee for those big transactions out there. I don't have an idea on how this increased miners fee will takes place, they have to make a solution for this one.

Today, blockchain.info asked for more than 20$ to transfer 20$. Anyone knows the reasons behind these high fees and if it's going to decrease in near future?

bitcoin transaction fee it depends on size, and not price ( CMIIW )  it looks really high because the price is high enough to make it look like the fee is increase too,

Bitcoin fee is too high. It has high fees and has slow transactions. The price of bitcoin may affect the fees but i just hope not in a way that they will charge about $8-$20. It's too expensive for those who are small time holder of bitcoin just like me. If they gives us higher fees per transactions surely bitcoin will go down because not all people owns a lot of bitcoin to waste it on just fees

Major drawback of BTC not using as digital currency for every is High transaction fees and time lag to confirm a transaction.
BTC transaction fees is going crazy now a days....regular transaction fees per byte is upto 300satoshi which is crazy. That mean to make a trade of $15 you need to pay $12 as transaction fees which is insane.

This is the most problem of bitcoin users lately the transactions fees are expensive. Also the confirmation that takes long. I hope there is a resolution on this lag and to down the fees in every transactions.

Maybe for a high priority transaction that you need confirmed in the next block. But you should check https://bitcoinfees.earn.com/ before sending a transaction. If you are willing to wait 4-87 blocks (up to 15 hours delay) for a confirmation, then you can send a transaction for 125 satoshis/byte. At the median transaction size, that costs less then $5. Considering that Bitcoin is the most secure ledger in the world, that seems like a steal!


This spike in congestion resembles the one that took place about a month ago. It's a spam attack. It'll subside when the attackers have either achieved their objectives or run out of money.

yeah i really agree to avoid high transaction fees transfer your bitcoin into another wallet with have big amount because i experience on that situation i sent an small amount of bitcoin into my local wallet is to expensive the fee, unlike sneding big amount of bitcoin not hurt the transaction fees charges.

A good idea of 100byte/sat, but I'm not sure whether it can be implemented, basically change the nodes, right?
Bitcoin transactions always increases along with the increase in bitcoin price.
I believe exchanges have a big role in the matter of big volume transactions, but most of them still do not implement Segwit.
This fee problem should be solved or at least reduce the fee by adopting segwit addresses.

The transaction fees are truly high. I tried to do a payment of $49 on mycelium wallet just yesterday, and was given $17 as the transaction fee for high priority. Now that's ridiculous. I tried tweaking to $3 as a low priority fee now my transaction is stuck and remains unconfirmed after hours.

These high transaction fees will be what will lead to the downfall of bitcoin if not resolved.

For me if the bitcoin price is dump the fees are down but if the price is pump the fees is pump.

I’m noticing a Coinbase today but the transaction fee of $30 it’s right around $15! It looks like that fee doesn’t change, it doesn’t matter if you send a one dollar or hundred dollars, the fee seems to stay the same. To be some sort of solution, I don’t remember being this way before.

Costs can be reduced if more wallets apply Segwit if the user starts switching to a wallet that supports it. There is a permanent solution that makes the network much faster and significantly reduces costs. It can support more than 1 million transactions per second and still enroll in blockchain. But this technology is still being developed so it will not solve the problem in the future.

You are not afraid of high-priced transactions. You do it once when transferring large amounts to your account on the exchange. I'm sure next year there's an idea to increase the block size to be continued. So you only replace the coins for Fiat and do not pay high fees.

Bitcoin fees are a necessary amount for bitcoin miners to pay for bitcoin transactions. The bitcoin fees on commercial sites are very different, you can adjust the bitcoin transaction fee to the most reasonable price that you can accept.

but then miners could take in work more profitable transaction,and your transaction will wait... last time for example i was waiting about 5 or 6 hours (2 days ago)

I use the exodus wallet. How am I able to change the transaction fee?

Gdang fee is low today. I bought for 1000 XXX BTC and pay 0.55 XXX in transfer fee.

From a net dealer.

Apropos exodus. I dumped that one after the team made a divorce out of kicking doge out.  The fees are insane on that wallet. Total crazy! Like. Am i being robbed here ? - crazy.

In my opinion, the transaction fees right now are just enough. There is no need for them to srop the fees. We all know that transaction fees are needed in order for them to function.We should be okay with that, its not that high and its more convinient. I can't ask for more. I am just thankful for the services provided.

Did you know why the bitcoin fee is high? The answer is simple
It is ecause bitcoin price itself is higher!
Bitcoin at december 2017 hit around usd 19k.
Therefore, the fees is high too.

Really? What kind of platform are you using? I'm using a local wallet and it doesn't charge us that much. My last transaction was charged $5 only. I know that the tramsaction fees are much lower now compared to before. Maybe the plarform you're using didn't update their charges.

The bitcoin exchange of transaction fee has spared dollers rate currency turning bitcoin's old claim to fame as a cheaper online payment method into a laughable assertion.But despite these increasing costs, and the long running debate there are caused, developers and users argue there are simple ways to decrease fees that aren't being fully taken advantage of.we have Overall though, as the number of companies supporting the new feature grows, bitcoin fees will decrease some even argue that transaction fees would disappear altogether if that transactions replaced normal transactions of exchange in the business.

I do not completely agree with you about this. The cost is the income of the miner. If the cost goes away, no one will be mining the bitcoin anymore, then the transaction will be blocked, the system will be stagnant and bitcoin will die. As for cost reduction, it may take sometimes to increase competition with other cryptos. But if the whales dominate the market and they are monopolized, then the costs will increase significantly to satisfy their greed.

True, it is not worth doing small transfers now. The fees are just like the price of Cryptocut. With small transfers it is currently unprofitable.

Isn't there any other way to directly transfer btcs without paying this fees because otherwise what the difference in paying tax in fiats

if you expect to go down. then the bitcoin price should go down. the miners are paid a bitcoin transaction fee. not with $ (dollars). so the count is using Bitcoin. this does not matter because now bitcoin is not a currency anymore. but it has become a commodity, an asset. would be a problem if miners are forced to lower fees. it will be slow. and bitcoin miners are reduced. while investors want higher bitcoin prices. it is unbalanced.

The bitcoin trade of exchange expense has saved dollers rate cash turning bitcoin's old distinguishing strength as a less expensive online installment strategy into a funny assertion.But regardless of these expanding costs, and the long running civil argument there are caused, engineers and clients contend there are straightforward approaches to diminish charges that aren't in effect completely exploited of.we have Overall however, as the quantity of organizations supporting the new element develops, bitcoin charges will diminish some even contend that exchange charges would vanish inside and out if that exchanges supplanted typical exchanges of trade in the business.

We should make a requestly approach to the developers and blockchain managers too reduce the fee.

There is no such hope of fee decreament atleast in the time when the btcs market value is down.

The charge was down once before I don't know the exact date and I hope this would soon end

Its literally too much I think. I didn't know the fees was too much these days

I do not care too much about the bitcoin fee, now doing anything also needs to pay. I have never thought about it too much!

If your investment is small then the charge is also a problem. The current fee is $ 34.
Let's me show you an important thing: The hero do not mind a small fee!

Big transaction fees are really a big issue for bitcoin but there could be a solution in the coming days. People at present are paying an amount of $28 on average to make transactions using the digital currency, according to data provided by BitInfoCharts.

$34 is not the current fee anymore. The current Bitcoin fee is closer to .80 cents due to decreased transaction volume and segwit. Segwit adoption is still pretty low too, about 33% on average. As time goes on, the fees and network throughput will continue to improve as segwit adoption continues as well as Schnorr signatures hopefully being implemented in the coming years.

Transaction fee BTC is really good now, as of April 2018, the average Bitcoin transaction fee is over 95% less than the fees seen during the cryptocurrency rush of late 2017.

I am a time traveler from the future and fees will go up to $55 in late December 2017 and then after that for
obvious reasons the price of Bitcoin will tank because no one will trust the development team and miners anymore.

The crystal ball is a little foggy, yes I see they called them Lightning network hubs but really these were centralized
banking hubs, yes, yes and started to charge 0.65% in transaction fees but people caught wind of the scam and jumped ship
to more stable ships.

These two posts contain such a nonsense that I'm wondering whether the accounts are connected  in a way. Probably they are not, but still, where do you guys find that info? You can pay 10 satoshis/byte for a pretty fast transaction today which corresponds to 2,250 satoshis or $0.2 for an average transaction. The OP was created when transaction fees were expensive indeed, but this is not the case anymore.

That's nice but since we are playing with numbers, cooking the books well did you know that for 95% of Bitcoins eight year life the fees
were below $0.01 per transaction ?

You best switch to the Lightning banking hubs, only 0.65% per transaction just now, never mind my free home banking and the
fiat currency value is not crashing like Bitcoin, exciting times  :D :D :D

The bitcoin trade of exchange expense has saved dollers rate money turning bitcoin's previous identifying strength as a more cost-effective on-line installment strategy into a funny assertion.But despite these increasing prices, and also the long running civil argument there area unit caused, engineers and shoppers contend there area unit easy approaches to diminish charges that are not in result fully exploited of.we have Overall but, because the amount of organizations supporting the new component develops, bitcoin charges can diminish some even contend that exchange charges would vanish within and out if that exchanges supplanted typical exchanges of trade the business.

Bitcoin transactions usually occur for free if the amount of Bitcoin shipped exceeds 0.01 BTC. Bitcoin in small quantities is given to miners as a reward for processing the transaction and putting it into blockchain.

Miners usually include transactions with the highest fees first.

Transaction fees and transfer fees are high, especially for transfer fees, and sometimes a transaction costs dozens of dollars and takes a lot of time.

bitcoin begins to rise in price and the longer it will probably rise again its price, in mid 2018 it will skyrocket the bitcoin price.

I think it's not too worrisome because if his fee goes up his price also goes up, so I think it's good news, because every year the amount of reward block increases the number of bitcoin will reach the maximum, and the price will be more expensive, of course with the fee the more expensive.

Its basically If the price of bitcoin also goea down. Because bitcoin fee is not about the dollar. Its about the bitcoin network, Once blockchain had a lot of traffic. Bitcoin fees will increased. So if you want small fees better to wait bitcoin price back at low.

Never. Only if a huge number of miners starts to go away from bitcoin mining then the block complexity will decrease

I had not followed fees in a while and was surprised that the fees are so low now, around 15 cents, compared to $30 in December. How long are these low fees going to last? What will they go up to after the volume increases, given segwit they should not go as high as before?

I do not think the bitcoin fee is a concern for us because the bitcoin transaction fee is extremely low. It is lower than the transaction fees of traditional banks to date. Thus, bitcoin stimulates the participation of investors in the cryptocurrency market.

Bitcoin as a method of calculation in is poorly distributed. The bulk of the places where you can spend koin - Internet resources, which, moreover, foreign. This is due to the fact that in Europe it is accepted almost everywhere. And where it is possible to pay bitkoinami in Russia?

The list of such places will be huge, but the payment of bitcoin has not yet spread so that they could pay in all spheres of life. In this regard, it will be much easier to spend crypto currency on the Web.

This process is simplified by special services that exchange bitcoins for another crypto currency or dollars. Bitcoin is considered the most common digital currency, which can be used on inter-resources, where you can not pay the usual money.

In this case, a third party appears. Processors convert the resulting crypt into a fiat. Processing companies reduce sellers to sources of money, it's like a currency exchange service. It works like this: the customer comes to the store and pays for the goods with bitcoins. The processing company takes these bitcoins, sells them on the exchange and receives dollars. The received Fiat company transfers the store. For the whole process, the processing company pays a reward. Approximately 1%.

the answer is Miner  ;)

Currently in bitcoin trading transactions are very high, the Bitcoin transaction fee method is not the same with traditional financial institutions, the Bitcoin transaction fee does NOT depend on the amount of money you send. At present, a major problem that wallet developers are facing is the creation of an algorithm to calculate the appropriate cost. Hopefully in the near future the transaction fee will decrease.

i think i know the reason why bitcoin fee valued as such amount.
it was because the bitcoin and crypto price very high at the time you write this thread.
but for now, bitcoin price is back to more normal price. the fee is decreased too.