|
Title: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: Butters on December 24, 2017, 06:19:34 AM How on earth people expect it to continue rising and becoming something really useful, if exchanges and web wallets like XAPO are charging over 0.005376 btc of "mining fees" ?
Over 75+ U$D for a single transaction https://i.imgur.com/uej3nbp.jpg Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: xdrpx on December 24, 2017, 06:25:45 AM Some of the top exchanges don't bother about the expenses incurred by their customers towards mining fees. They even don't bother to group together several transactions and make batch payments instead of paying a transaction at a time and publishing it on the blockchain. If they did make batch payments it'd help reduce the fee vastly since several parties together would be paying for one transaction. Also, this is one major disadvantage of using wallets (mostly web wallets and mobile wallets) that don't allow the user to set their own fee and probably to replace-by-fee only if need arises. I would always suggest you to stay away from web wallets and other wallets that wouldn't allow you to set your own fee. For desktop wallets I suggest you to use Electrum which would allow you to set a customize low fee and it'd also help you determine in how many blocks would it get atleast 1 confirmation. If the bitcoin mempool is filled (like it is now) then you can replace-by-fee or send a child-pays-for-parent request on top of your current transaction. Always choose a wallet the provides you optimum security, full control of your private keys (if you don't have the private key, it's not your Bitcoins) and control over fees.
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: bigmaster23 on December 24, 2017, 06:30:33 AM I honestly can't afford the transaction fee right now but I'm still hoping for some authorities or two to have some solution for this issue maybe a calculation fix for the block or broaden the block capacity for good.
this is My last resort !!! :'( :'( :'( Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: jseverson on December 24, 2017, 06:43:24 AM Quite easy. I know Bitcoin is in its infancy and I know that it has plenty of room for growth technologically. We got Segwit, we'll get the Lightning Network, and who knows what after that? Things are only going to get better from here on out.
As far as the short term though, it's a little disappointing but the scaling problem would have manifested at some point, which just happened to be now. It wasn't unexpected. The backlog is thinning down slowly though, at least. I'm also not too convinced that Bitcoin Cash shills had nothing to do with this congestion. Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: kaolin on December 24, 2017, 06:46:01 AM guess your issue will be solved soon after the lightning wallet get implemented. thats how bitcoin will support zero fees and instant payment but now the miner fee is the big problem everyone worries about
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: secondgarlic on December 24, 2017, 06:53:21 AM Has lightning network become our Xanadu now? A lot of people are referring to it, saying all our problems will be solved once we get there, but no one knows how and when we will get there exactly. And it really does not help solve our problems.
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: mk4 on December 24, 2017, 06:55:52 AM You DON'T have to pay fees that high. That's one of the downsides of using an online wallet, you don't have the choice of choosing your own fees. On other wallets like Electrum and Copay you can choose as low as $1 or $2 if you're not in a rush of moving your funds.
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: btcprospecter on December 24, 2017, 07:05:43 AM High fees are a big problem. With not being able to transfer almost instantly it does make it unworkable for daily usage. If you are just using bitcoin as a store of value you might not see the fees as a problem.
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: Kalatas on December 24, 2017, 07:12:45 AM That is normal because to much people are now willing to enter mining and invest or cryptocurrency working as a fulltime so that we may have some perspective that the 10 or 5yrs theres a lot of user wants to buy bitcoin as a bank.
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: lprytk on December 24, 2017, 07:15:11 AM In bitcoin high fees and waiting times to processing the trade are limiting usage of bitcoin. nobody wants to pay that much fee. in some wallets you can arrange how much fee you are willing to pay but this time it takes too long to happen trade.
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: Walrus1 on December 24, 2017, 07:31:07 AM The code is available I think it's people not being able to agree
Title: Re: How can you take BTC seriously, with 75+ U$D single transaction fees ? (XAPO) Post by: khaled0111 on December 24, 2017, 10:44:30 AM XAPO is charging its customers high fees which make it one of the worst wallets I ever used.
I think the customer should be able to chose how much fee he want to pay. Due to network congestion, fees became insupportable but XaPO has the highest fees among all online wallets. You should wait till fees become more reasonable and then move your funds to a hard wallet. |
