Bitcoin Forum

The scalability problem of Bitcoin has been magnified with the recent ridiculous rise of transaction cost charged by many wallets to their customers. Many are complaining especially those small transactions as they sometimes cost more than the amount of Bitcoin being transferred. We are complaining because Bitcoin is supposed to be this way -- the whole thing has already become like an auction where we have to bid higher fee so that transactions are not trapped somewhere. There has to be a good solution to this perennial problem otherwise this is like shooting the very foot of Bitcoin and a very bad insult to its own name.

That it is a chaos, i can not even believe it everytime that i have to pay for the fees.

it is insane, and most times i am not even able to pay it.

Last night i wanted to send $25 to a friend and the fee for that transaction was over $18, tell me, was it worth to send that amount? of course that it was not.

This is grabbing, on the way next fork UB united bitcoin, this fork gives coin to active wallet's - more transaction expect

The main problem are companies consistently upping the fees to push through txs. If they would keep them lower, it would be better for everyone. Due to this competition, the fees slowly will continue increasing higher as Bitcoin grows until something is done to solve it like mass-implementation of Lightning or a block size increase to 2mb... anyway, it will be great when there is finally a solution.

Average transaction cost is rising as miners are prioritizing the transactions in which high transaction fees are included but one can afford such fees for the international level transactions and when it comes to the domestic transactions, things are not smooth as they should be.

I recently discussed this issue with the vice president of one domestic exchange in my country and he said that we are working on the mechanism where internal transactions will be free of cost for the customers of that exchange. It will make the impact on the growth of microtransactions but again, this is a temporary solution as there is a threat of monopoly in the market in my opinion.

We cant use bitcoin for daily use. Bitcoin is useless because the main purpose of bitcoin is for peer to peer transaction but how can use it if the fee is too much. They introduce bitcoin for investment not for daily use

Some people are saying it is now a store of value and not a currency.

Transaction fees for bitcoin offered for each transaction is much high. Many times fee cost is high aa compared with bitcoin cost which going to transfer. Due to this high fee people's prefer to hold bitcoin rather than use as payment system or other uses. This high cost of transaction is major problem in bitcoin as future currency.

i always say we damage bitcoin ourselves not anyone from outside. all they do is spread FUD about bitcoin but we inflict the most damage on our own.
the current high fees is one of those damages we are doing to bitcoin. people are not going to use bitcoin that has a ridiculously high fees. and so far bitcoin was rising and staying up because it is a currency and if that changes it may rise but it will never stay up because it will be replaced.

That would be going against the way things was designed to work. The whole point of higher fees, is for people to be able to pay a higher fee to get their transaction to confirm quicker. Some people who are not in a hurry, will pay the normal fees.

The problem is that the MemPool are so congested now on the Legacy addresses <Not SegWit> that everyone is paying high fees now to get their transactions through. The more they pay, the higher the fees will go. ^sad^

I believe the lightning network is the only hope, I hope it soon will be implemented because it will greatly improve the transaction so it becomes quicker and cheaper. The good this is lightning network has been successfully tested on the mainnet test.

The only thing that will probably change all the perspective is just the ligthning network, once that we see this, or just once that it gets implemented on ALL the wallets it will be a huge succes for all the blockchain.

I can not even wait anymore until it gets implemented, i am always dreaming about paying less than a dollar just for fees, just imagine that.

Obviously the transaction fee is high and despite of it being high we are having it to pay more than the actual fee because of the congested network.
There are already so many transactions piling up on the network and being congested the transaction fee is keeping on increasing. Even if we pay 0.0005BTC it would make $9.5 which is still more when compared to the fees taken by banks for transferring money. Micro payments are far from being a reality(although are happening but are of no worth) now since the higher payments themselves are seeing issues. Bitcoin will break soon if the issues are not solved.

I personally think that the transaction cost of Bitcoin right now is still reasonable. With bitcoin becoming mainstream, more and more people use it everyday. The more user, the more congested the network and the longer  the transactions are confirmed. But you can also set your fees at a lower sat/b rather than the recommended one, that is if your fine for a longer confirmation. I tried it, and it works for me.

With an surge in the number of transactions, everyone wants theirs to obtain a confirmation within the next few blocks and hence end up setting high fee. If all these people make up their minds to keep it to a low, miners would still continue mining, accepting the lower fee itself.

Bitcoin as an option for micropayments is almost ruled out at this point as the fee overshadows the amount being transacted, making it impossible to use over traditional fiat or other cryptos. This will continue to remain an issue till the core steps up and does something about this and Bitcoin will continue to remain as an 'investment' and not a currency, in many views.


This is nowhere near to a solution for the existing problems and we're not talking about creating more hard forks here, but on improvising the core.

the current transaction fee for bitcoin is too high if you look at it at dollar terms.
If you look at it at btc terms, and exchange transfer would only be 0.005 to 0.002%.

yes, I also see many members who complain and are disappointed with transaction fees.
but my solution to deal with this is to sell it when it has a lot of bitcoin, and if it has a bit bitcoin, then it's better to hold.

Its too high, I was sent less than 5$ worth of bitcoin but the regular fee is too high. Its only good to send hige amount of transaction. I will only save my bitcoin as investment now.

Agreed, I once had to transfer 0.001 BTC to some other wallet, the fee itself was 0.001 and hence, I was just spending everything on the fee and the wallet on the other side will have nothing. Was quite despondent at that time, but then the price had also increased so I just let it go and decided to move on. 15-30$ only for transaction is not worth but if you want to send bitcoins to some other wallet or something, you need to pay that much or pay less and wait forever to get confirmations.

All I can say is it sucks imagine how you need to pay around 20$ for an average transaction, note I say average not yet fast it still takes hours in order to get process. And in my wallet that 20$ fee is the minimum I can set regardless of the amount I need to transact.

What did you expect? You do realize that there are multiple options available to send bitcoins right? You can decrease the transaction charges, but you will need to wait longer for the transaction to get confirmed in the blockchain. As the value of bitcoin continues to soar, there will be more demand which will result in more congestion in the network which will obviously lead to higher transaction charges which is not a big deal at all.

I say transaction costs are way too high right now. But that is due to popularity. Once people start using bitcoin transactions less, the miners will want to implement new code that allows more transactions.

Forget about bitcash and bitgold. They forked the original bitcoin, and thought that was the way to go, it is NOT. We need consensus to change something, not just fork like in the wild west.

It's still getting stupid even more. Fees should be fixed for any amount under 100%, like for example 5% of any tx or something like that, because with fixed fees there would be no accidental stuck transactions like it happens to people every now and then. Happened to me a few times when blockchain.info wallet is acting up.

So in my opinion fixed % of the amount that's being sent is a perfect solution, you always know how much you will be spending on it, because as of right now. Haven't been anything recently but last time I've been trying something out, I spend 4$ fee on a 1$ transaction.

Kind of unusable for everyday transactions. I'd have no problem with it if I had to move 1 million bucks tho. Nonetheless, it's a temporary setback and until we get it fixed try to use this tool to time your transaction costs: https://jochen-hoenicke.de/queue/#24h

Yeah, Bitcoin hasn't been usable for microtransactions for a while now, but the problem is currently on a completely different scale. These problems have usually resolved themselves in the past given time, but that doesn't look like the case at the moment. The number of unconfirmed transactions is nearly the same as when I checked it a day ago. That means the network isn't getting any progress in trimming down the number of transactions in the mempool.

The only real solution on the horizon is the Lightning Network, but who knows when that will roll out. I would personally support a temporary band-aid solution, should someone come up with one.

I think this event is reasonable because bitcoin is still in the stage of adjustment or development. Bitcoin prices lately are crazy of course transaction costs also go crazy. I advise you to make transactions using cheaper ALT coins in transactions. Do not do bitcoin transactions if the amount is small because the transaction cost is quite unreasonable.

I think that users of the bitcoin network should stop their transactions for a while. The user consensus must be found.

This situation calls for concern as it has become overtly discouraging for people transacting in bitcoin. It is now becoming the bane of Bitcoin and may likely drive away its fans if not corrected. Miners don't really care again. They just want to extort the people and this is really affecting micro transfers.

If Bitcoin were actually ready for mainstream use, it wouldn't be priced this low. The market is speculating on its future utility. Hell, don't they still say that Core is in Beta? Lightning can mitigate a lot of these woes about transaction fees, but that'll probably be a year or more from now. In the meantime, focus on storing your BTC, not spending it (at least until transaction congestion calms down).

Also, take a look at this chart:
https://i.imgur.com/yBMgmyw.png

These aren't natural spikes in transaction growth. A < 500% increase in confirmed transactions that in some cases resulted in > 100,000% increase in fees? The most appropriate word for this is an attack. There are some researchers trying to pinpoint who this mempool attacker is, and I've heard that BTC.com and Bitmain may be implicated.

It is too expensive right now, the only way I could solve the problem of transferring my coins from an exchange to another one is to convert my coins into other altcoins that has low fees such as Litecoin, Dogecoin, etc.
I think Satoshi doesn't think that Bitcoin could reach a price of more than $15,000, because if Bitcoin price is a around $100-$2000, the transaction cost is still bearable. It is one of the flaw in Bitcoin.

the transaction cost is not encouraging at all. the high cost of sending Bitcoin from one wallet/account to another is defeating one of the purpose of Bitcoin as a medium of exchange. one would have to think twice before opting for Bitcoin as payment for goods or service because the transaction cost would almost equal the cost of the goods or service you intend to pay for. I consider this as a restriction on the capacity of Bitcoin, something needs to be done fast to correct this anomaly.

Satoshi acknowledged that mainstream adoption would entail that bitcoins were each worth millions of dollars. Unfortunately, I can't locate the post now, but this is pretty well known. But more to the point, the very design of Bitcoin entails that transaction fees are calculated in BTC, not USD. The USD value is irrelevant. Bitcoin doesn't understand its own exchange rate, and there's no decentralized way to code it into the protocol. The whitepaper states pretty clearly that the design allows for transaction fees replacing the limited mining subsidy.

I think that Satoshi's desire to reserve room for free transactions was misguided. He likely knew that standard/on-chain scaling was insufficient for mainstream adoption, hence his inclusion of payment channels in the original software. Segwit and Lightning are making it safe to reintegrate payment channels into the software, allowing for exponential scaling and lower fees.

The fees really are an issue, I tried to pay a mate for lunch $15 but the fee added on top just didn't make sense to send it, for small amounts and daily transactions bitcoin can still be used but the payment may stay unconfirmed for a few days if you are not willing to pay the larger fee, this might be okay in many instances but businesses may not be happy with waiting this long to receive their payment even though it is just waiting for confirmation.

Maybe bitcoin will go beyond just being a payment method and become a store of value and then the other coins such as litecoin will come along for the everyday usage.

This has been debated many times before and the question keep to be asked 2 times weekly at least. The transaction cost is what is hurting Bitcoin right now, it can't be used for micropayments and it's used as an "investment" to speculate on. People prefer to hold than to use it.

It needs a serious change and it needs to be asap otherwise Bitcoin will never be used to its full potential

The cost of transactions is devastatingly huge. To date, the only way to not suffer from this is to make payments in other crypto-currencies.
Unfortunately, this is not always possible.

bitcoin fees now are the problem cause of its price keep pumping what it affects the most are those doing small transactions. if possible avoid sending small amount because you will just lose more.

actually the main problem is the transaction fee that exists on the exchanger and market in my opinion, because they average burden with 1mBTC fee. While in the wallet like blockchain we can determine how much the fee, but back again to speed up the transaction, you must increase the amount of fee for the transaction to be confirmed immediately.

The cost problem of bitcoin has always been the biggest problem, and now it's time to make a change. Those forks may be helpful, but now there are too many forks, and they don't get the trust of most miners. It is believed that this problem can be improved within the next two years, and perhaps another altcoin has been recognized by everyone. Why not?

Well, we just have to live with it for now. Transactions more than doubled in recent times hence it's a lot more expensive now and it even takes longer than a year ago. It probably will change with all the coming forks but for now, well take it with a grain of salt

This is a short term problem at the moment, due to the fact that the Bitcoin price has risen but the difficulity (with mining) hasn't followed suit as of yet, so it's not like this is going to be something that stays on forever. It's just a small number of miners who are able to make a good amount of money in TX fees (sometimes $10 PER TX) as that is what they demand.

Once more people get in on the action this is going to come crashing down.

But out of this short term, this is one of the many reasons (TX INSANE PRICES :)) I use altcoins for transactions within trading exchanges. It's MUCH cheaper in fees.

This is the biggest problem with bitcoin to date if you can't carry out transactions without paying more than you should we could even get to the point where people become disillusioned with bitcoin hopefully that doesn't happen but the fees make it almost impossible to be used daily.

Currently, all Bitcoin transactions are expensive because the daily trading volume is increasing rapidly and the miner will search for high fees to complete the verification. I think this is absolutely true because everyone is more inclined to buy Bitcoin

Very soon,we could expect it to get solved when lightning network gets activated.But now at present,bitcoin seems to not fit for smaller amount transactions.Even segwit activation has failed to solve this issue.Its said that most of the big companies do not use segwit supported wallets for transactions.This might also be a reason for such high fees.

This is only a short term problem if people behid the development of Bitcoin decide to improve the network/technology.

Util then, this is a permanent problem for Bitcoin, and a terrible one at that.

We need a solution asap because spending 5%+ to send money isn't going to work in the long run.

Aye. Bitcoin transaction is very much a burden to some people, as what you've said, especially to micro transactions. Who would like to pay $15 just to send a $1? This is insane. As Bitcoin's value increases, the transaction fees should decrease. They must have inverse relation and yet the do not. It seems they are computing the fees with respect to the number of Bitcoin transacted and not with respect to its value. The system is justifiable when we are considering only Bitcoin but if we are too consider the price, it is very much impractical.

We urgently need a solution for the scaling issue of the Bitcoin Network. If the transaction costs will continue to increase, Bitcoin will just be treated as an investment and not as a currency.

perhaps the segWit update would have allowed those unconfirmed transactions to be included in a part of the block, reducing the high fees per transaction, which would also allow the appearance of "micropayments" in the network. Thanks to these drawbacks, I see this update useful in the bitcoin network despite its consequences

There are many people who don't want to transfer accounts because the transaction fees are too high. The amount that will you send is equivalent to the amount that you will pay in ordet to transfer. Bitcoin needs to resolve this problem because many people specially the poor are suffering in costs of transaction. I am also complaining in this problem. I wish bitcoin will make a solution on how this problem solve.

Transactions cost of bitcoin will defeat the original aim of satoshi Nakamoto of making a decentralized currency which do not need some authorities making monopoly of it. But now miners are raking in huge profit through transaction fees. Imaging buying a coffee of $2 and paying a transaction fee of $15 .

Bitcoin transaction fee is quite high that's why many people who would want to have a piece of the coin would back out if they see the price of transaction fee. If they have been in here months or years ago then they would have conveniently paid for it but then what can they do when they just found out about it recently that's why it would be better for someone to have large value transaction so that you cannot feel the transaction pay that much compared to transacting with small amount and there are even instances when you pay a higher transaction fee compared to the amount you want to transfer which is just ridiculous.

The solution to this would be the lightning network which has been successfully implemented recently but then I don't know when would that be implemented in the whole network so that this scalability problem would then be solved.

Lightning Network on its own doesn't seem to be capable of solving much, we still need the on-chain scaling. and at this point that can be achieved by more people using SegWit transactions instead of legacy. but that also takes time and also it requires big services such as exchanges and web wallets to implement SegWit.
then later on we will also need a block size increase such as the one SegWit2x was proposing.

I hope this problem is quickly resolved.. honestly I feel harmed because transactions fees is really high.. my income from bitcoin is not much but if I have to pay transaction fees for every week, it's very annoying..

Yeah the transaction fees in bitcoins is one of the biggest problems people face while doing any transaction, especially those small transactions. That is the main reason why alot of people choose to invest in other cryptocurrencies instead of investing in bitcoins. I think if any coin reaches near the value of bitcoin with better and lesser transaction fees people will surely go for that coin and that would harm bitcoin alot. If it doesn't change i think the value of bitcoin might suffer alot

I think something needs to be done about the transaction costs, ebcause they are extremely high right now.

bitcoin transactions can now be done in various exchangers, bitcoin transactions always take a different cost. if indeed a very large bitcoin transaction could reach $ 15 per transaction and that is huge for every transaction.

The transaction fees are very high that people cannot afford it, the fee is even higher than the amount to be paid especially when iys from local wallet to international. I thinks this is the biggest hindrance that can make people to atop acquiring and transacting in btc. Hope this will be resolved so that we can even build a better and affordable btc community.

any bitcoin transaction can always be, like buying and selling bitcoins, but sometimes also using bitcoin transactions must use capital as well, but some are not using capital. so you just want to choose which one. using capital or not.