Bitcoin Forum

Blockchain asking me $138 fee for $1k transaction to an external wallet, this is sickness. Is there any way to avoid this fee?

I think its time to quit Bitcoin and move to another good alt coin, Ethereum or Litecoin.

I also read today that China is going to stop Bitcoin mining operations because it consumes a lot of electricity.

Bitcoin's DOOMSDAY is near.

Yeah, I have avoided transferring bitcoin since the fees got so high and transactions were starting to pile up not even completing within 24 hours. Do you have any reference or links about the news on China? I tried searching with no luck.

Here is the news

https://news.vice.com/en_us/article/59w5eb/china-is-about-to-kill-nearly-all-bitcoin-mining-operations-in-the-world

I'm moving to Ethereum, at least better than Bitcoin, low fee , faster confirmations.

Bitcoin more like investment to me, i use it for trade and never use it as a payment to anyone, wait to long just for confirmation and the fee getting ridiculous i aint pay more fee than what i send. moving to ethereum is good choice mate keep it like that.

btc is more like a long term deposit. due to the fact that it is really hard and costy to mine it, it will become more and more expensive. it is better to use other cryptos to make online payments.

Yes and Btc is better retire now, there are more potential coins in the market for usage of payments.

Yep you are so right! At this stage, BTC is good only for a trading investment and nothing else.
Nothing good is expected by the BTC at such fees.

If bitcoin would be banned than this will make a huge loss to individual after that there would be a negative affect on the people because they trusted bitcoin. In future bitcoin price may decrease than other currency price rise than people take interest in other coins.

It means BTC just works for your long investment, and not effective for Daily activities. Maybe Ethereum or Other Altcoins will be the answer. Especially Ethereum, it will be another challenge for their network.

Currently you are right about the big problems of Bitcoin. They are useless if the high fees continue existing. However I think that they will do something to fix the problem soon, so the bitcoin is not dead.

I don't think that Bitcoin will suffer from Dark Future . Bitcoin is the standard Coin.Every Coins Revolve around Bitcoin  ???

Well the Bitcoin has become a crypto gold. Just like the dollar been tied to the gold, so altcoins tied up to Bitcoin. Believe me, nobody been trading golden coins as a currency in 40th so nobody is going to use Bitcoin as a currency in the nearest future.

LN is already in work. ;)

Nobody is asking for $138 fee, what is the source of this?

We all make bitcoin transfer and payments, but I've never seen and heard that high fee. Relying on this and blaming bitcoin is not making sense.

The same, I prefer altcoins to Bitcoin. They're faster in transactions and are pretty good  for small payments. Also much more flexible and useful in trading. I don't think anybody is trading with Bitcoin with a hope of great income. It's much better just hodling it then selling.

Agree. Bitcoin's best days are over. Ethereum is going to be its successor due to faster speed, lower fees and smart contract support. Bitcoin is a long term asset, not a currency at all. If you didn't buy Bitcoin when it was less than $1000, just forget about it.

Such news appear constantly. We've seen that China can not long to have an impact on bitcoin. Lowering the prices of bitcoin this is a temporary phenomenon. I am sure that this year will be a decision that will speed up transaction confirmation times and reduce their cost. The price of bitcoin is very quickly restored.

I heard about the news few days before. But I am not believe about the news. I think bitcoin will rising again friends because many people support bitcoin :)

I stopped using BTC entirely, only deal in ETH now, the transactions are much more faster and cost less money.

Agree, Bitcoin is stagnating. 2018 will be a year of Ethereum just like 2017 was a year of Bitcoin. Ethereum is more innovative than Bitcoin. Ethereum is faster, has lower fees and supports smart contracts. It's not just a cryptocurrency, but also a platform for other services. Its potential is huge. I'm sure that Ethereum will be Bitcoin's successor soon.

Yes, the transaction fee of bitcoin is just unreasonably high! I remember that when I made my first transfer of bitcoin (about 0.05btc only) from one exchange to another, 0.004btc was consumed as transaction fee! And the speed of transaction was so slow that I had to wait a couple hours before it reached another exchange’s wallet. After this lesson, I had never transfer bitcoin directly from one wallet to another, instead I would convert it to other altcoins with low transaction fee but high speed of transaction such as Dogecoin and Litecoin before I made any transaction.

I don't see bitcoin as a day to day currency anyway.  I See it as a store of value

True that. I use altcoins also and just hodling my Bitcoins as a emergency ration for the bad situation day.  ;D
Not dealing too much with Ethereum really, just exchanging it on the coins I like. I don't go trading with ETH cus it's also less flexible then switching it to altcoin and trading with it.

I Have noticed bitcoin transactions has gone up high this few days. But sometimes it also goes down to about 40k satoshis. My technique is just to wait for the transaction fees to be lower before transacting. But this method has caused me a lot of delays as i wait for transaction fees to be much lower. Another way I am doing is to transfer in large amounts this way it will cover the transaction fees somehow. I usually transfer large amounts to trading sites I think their transaction fees are much lower than using an online wallet like Xapo or Coinbase. Just make sure that the transaction fees are already covered from what you are earning that way you will not be below the margin line of your earnings and still earn even if you paid big transaction fees.

Now making transactions in bitcoins is not the most reasonable choice. Commissions are very expensive. If I need to make a translation, then I change bitcoin on the exchange for lightcoin and I'm already translating it. So it turns out cheaper and more profitable.

The news about China is that China will be banning bitcoin mining of illegal mining farms, those farms which are operated from residential properties rather than Commercial properties because there is difference is price of electricity for both. 

Yes.I too heard that China is going to ban bitcoin mining but it has asked the mining farms to gradually stop bitcoin mining. So, there is no immediate threat for transactions. But still, transaction fee is very high. Unless lightning network is activated, there seems no solution for fee to get down.If you can, then wait for some more time.

Bitcoin is looking stuck, and it seems its reached its peak and now settled down at $14k. I believe its time for Altcoins to shine, so i recommend you invest in Altcoins.

BTC is considered as store of value that is why even the fee is so high, people still use and believe in it. What can we do for now is to wait a better fork of bitcoin and hopefully ETH would be available widely like bitcoin where you can use it as a remittance, payments and services in a large scale market.

Until lightning network is active you should hold your BTC, use something like litecoin or vertcoin instead?

this is big issue. i use bitcoin cash now and waiting for bitcoin atom fork

There is no dark future but only it will make corrections from each level.  :)

I think the dark times are coming and the Civil War of Bitcoin is on the way to our world. Soon it will be two camps: the one which hate Bitcoin and the second full of it's lovers. Just like the Red and White Rose war.  ;D

The fees are too high and it hurts if you want to send any bitcoin, start to view bitcoin as more of a locked away investment until things change or start using another coin for your transactions, i am just going to leave bitcoin where it is for now and use ltc or one of the other altcoins.

It'll take some doing for Bitcoin to be dead but they must act as the transaction fees are just too high unless you're sending an astronomical amount of money! I tend to exchange to Litecoin before sending which is just pennies then.

Bitcoin can be added as an asset. If you want to invest, we suggest buying other cryptocurrencies. with a low cost of other transactions

Well that would be good, by moving tokens to ethereum is better than others as I see, and if we talk about ethereum it would be nice to make a wallet that no one knows it so that time to time no one can have it only you. Because if we talk about dark future it would be based if how you deal with, so better not to dark one just keep your wallet safe and that would be your bitcoin last long terms with you not by others hand.

And as I've observe from my coworker's which using also bitcoin, they have different techniques so that there money will be safe by using multiple wallet which one wallet will be used when you join some campaigns and the other private one will used only when transferring funds so that only you can handle it well.

I do not think it is true i sent btc payment recently and i was charged around $17 in terms of usd, in btc it was around 120k satoshi fee.

The transaction is fee is so high and the speed is so slow. I think ETH will close the gap with BTC within this year if they haven't solve this problem. More of my friends are switching to ETH and Litecoin because the transaction is fast and the fee is so much affordable.

Yeah still the fee is very high and it made the bitcoin unusabke for a while.But choosing the wallets will helps to decrease the fee little bit.I am using blockchain.info wallet and coinbase wallet but in blockchain wallet the fee is very very less when compared to coinbase for the same amount of transacting bitcoin.Experts also says use segWit address for reducing the fee further more so we have to use best wallet for low fee.
I hope the solution for this issue is implementation of lightning network on mainnet if it take too long to implement then bitcoin will lose its value.

Unfortunately one of the main problems Bitcoin is the high transaction costs and increased time of transactions, as well as the growth of fee for remuneration against the background of the growth rate of bitcoin.

Which platform are you using to store your bitcoin? Not all platforms charge high fees on transactions

It is necessary to recognize that bitcoin isnt so good with his expensive transactions. But it is the first coin and it will be long valuable. There are many coins with faster transactions and the price of them