Bitcoin Forum

What are is lightning network and How to integrate lightning network into the bitcoin?
How to decrease bitcoin transaction fees and an increase in the speed of transaction!

Bitcoin fees are actually too expensive and not fair because of these fees or fairs that they imposed in all transactions they received they can easily diminished the income that the investors received from their investors. Bitcoin fees should be change and fair for bwnefit of everyone.

Very happy with Bitcoin fees.    9 cents to send $1100 just now.   I don't know how anyone could complain about that.

That was then bro, I sent out $1000 yesterday and paid 3 cent as fees,    but I think we would soon see a massive growth in fees again

Correct, bitcoin fees have been massively reduced, there are coins like
Bitcoin cash, litecoin dogecoin which are competitive and people are
still using them but with segwit and lightning on bitcoin its cheaper and
quicker to move bitcoin than it was before.

Bitcoin whining is expensive. Bitcoin has to pay a lot of money in transaction. It has to pay different types of fees. And by this we have more fees than our fees. However, we are earning money from bitcoin and earning livelihood.

Lighting network mean fast transaction speed and it can be happen with increase in size of block,  With increase in block size transaction fees become cheaper. Current best coin in term of lightning network and fees is DigiByte.

Lightning network basically lets you do transactions off chain, peer to peer. Using this involves standard BTC fees when you open and close a channel, but remember you can do many transactions on that one channel without necessarily closing it. This is often called "Layer 2 scaling".
While you are transacting over this channel the fees are basically free, over LN Bitcoin is the cheapest coin in existence to send funds with, plus the transactions clear literally instantly. What makes this amazing is I can pay you a millionth of a USD cent per millisecond if I want to. You can stream money like you are streaming data with this ! It opens up so many new possibilities for BTC.

Here is a video from a youtuber I want to shill (Ivan on Tech) , he actually shows a transaction on the LN testnet including how to set it up. You would be shocked to see how instant everything is.
https://www.youtube.com/watch?v=B5IPheyaNHA

LN is live now and is starting to get adopted since this video was made, remember the setup will eventually reach a point where you wouldn't even know you are using Lightning.



In times like now when the mempool is empty the best thing  you can do is consolidate your inputs, basically just send all your BTC to another wallet and then send it back. You can do this with a low fee per Kb if you don't mind waiting. Remember your transaction fees are not dependent on the amount of BTC you send but on the amount of inputs. So if you received a little BTC at a time many times, sending all that out will be expensive.

This way if the network gets spam attacked again you are okay and won't need to pay through your ears in fees

Most of all use a Segwit wallet wherever you can, since you can then leverage the 4Mb block weight vs the normal 1Mb block size on BTC. A segwit wallet will start with "3", a normal BTC wallet starts with "1"

I think bitcoin networg improves a lot in transactions.

i think bitcoin fees is so cheap right now and with the start of lightning network bitcoin will go to another apex of success and ofcourse current bitcoin fees is so cheap too :)

It's a new protocol for Bitcoin, its objective is to make Bitcoin transaction fast and cheap.
They also claims to have the solution to Bitcoin Scalability problem.
You can read more about it here
https://lightning.network/

Use Segwit based wallet, it can decrease TX Fee tremendously.
You can also use Lightning Network Protocol, although it's still in its early stages, if you are not developer you might want to wait until the end of year for it to become mainstream.
Speed of transactions are determined by the miners, all you can do is to make sure to set a fee high enough for miners to pick your transaction to the next block to be confirmed instantly.

Bitcoin fees hitting $55 will never be forgotten and has made Bitcoin indeed "Trustlesss" and the lightning network is
nothing more than off-chain banking hubs.
https://www.youtube.com/watch?v=UYHFrf5ci_g

Not getting the picture, convinced the slot machine is about to pay out are we because this is the picture you
should be watching if for one moment you think that bankers have not already taken over Bitcoin or that the
Ministry of Bitcoin Propaganda (MBTCP) is not spoon feeding you FUD here.

https://lnmainnet.gaben.win/

Now is a good time to head for the exit door if you didn't get out with me when Bitcoin was last at $18k and I would
advise you all to invest in lead but not for bullets, they are using a ton of the stuff here to weigh posts down
https://bitcointalk.org/index.php?topic=3387753.0

I think for smaller transactions the fees should be reduced. It is fine to compensate with higher fees for larger transactions because miners have to be paid ultimately.

Bitcoin fees are too expensive but hopefully that fees are appropriate. They need that fees for the maintenance, storage etc. that contributes to the good services that will provide or providing to us. What if there's no fee, I think the system is very slow or there are anomaly happening within or might get all our Bitcoin. So, think of it, that fee is for our own good.

1. Bitcoin fees are not too expensive (this time, this was true last year December, maybe you have forgot to update your thoughts.)
2. Fees are for maintenance, storage, etc???? Bitcoin is not a hardware store or anything like that...
The fees are for the miners good, that's all....

There is no need to complain about bitcoin fees because its natural, they need to charge for any transactions in order for them to earned also, and of course they are working on it, we should not be greedy anyway we earned also.

Compared to 2015, transaction cost for btc
 has increased sometimes making nonsense of the of actual transaction amount.

just relax, the cost of capital and operational is not proportional to income, it is normal, because with the capital will be gained a doubled profit.

Remember the amount of BTC you send is irrelevant. There are no coins in bitcoin. When you send BTC you send inputs, depending on how many inputs you consume to generate the output the fee will vary.

Although it would be nice if there was a fixed % in terms of satoshis you send. But that would make spam attacks too easy.

Lighting network uses 'state channels'. Its basically a network for people to make secure transactions without having to upload every single transaction on to the blockchain. It won't become successful overnight as it is a protocol which means its success relies on adoption but we are already at 2000 nodes and only a month into the main net being launched!

If successful fees will be as little as 1 satoshi making the IOT possible. it could change our relationship with money. Streaming money would then be a possibility! this is hundreds of sub 1cent payments a second. You could get paid by your boss per minuet live into your bank account

At present its very fair, if you are converting fiat to BTC to transact, but when there are congestion and huge price surge, the price becomes more impossible to afford. Fees are normal but converting them to fiat sometimes gives mental pain.
Lightning Network may come as a friend for us, but don't know what might happen, the whole system has been unpredictable till now.

true but incomplete. the correct way to say it is that the amount of fee you pay depends on the size of your transaction. the size changes based on a couple of factors including out many inputs and outputs you have.
the other factor is the type of transaction you are making. for example a regular tx with a compressed key adds 148 bytes to a transaction but a multisig can add nearly 400 bytes and SegWit about 102.
check this cool site for more information: https://coinb.in/#fees

Well, bitcoin charges have been greatly diminished, there are coins (litecoin,dogecoin,bitcoin cash)which are aggressive and individuals are
as yet utilizing them yet with segwit and lightning on bitcoin its less expensive and faster to move bitcoin than it was previously.

The bitcoin fees are there for a reason, they are used to pay the miners. If there was a similar concept by government, you would have been paying more to feed the leaders as taxes.

I think bitcoin fees depend of his price but i think now the fee of transaction in coinbase is not high he cost 1,26 $ nothing more

Bitcoin fees are actually too expensive and not fair be. I hope that fees are reduce.

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you can find more info here: https://www.coindesk.com/information/what-is-the-lightning-network/

For the less money and bitcoin for the transaction and a transaction of the money of the new account, instead of bitcoin. In the missing missing, that you would afraid that no any way to resolve.

bitcoin is a very precise and very modern investment in the modern year as it is today, investing more rapidly than previous years because everyone prefers bitcoin because its payments are already using digital coins that are safe and good.

bitcoin delivery costs increase when bitcoins start to get very difficult and when bitcoin has a very crowded transactions it will definitely make bitcoin very expensive for shipping costs.

The btc fee now is still not fair and not transparent for everyone

I wonder why do you care about the lightning network just right now? the fees are super cheap, you do not even have to spend twenty cents for sending a little payment, so what is the problem with that? We do not need lightning network anymore, it was needed for last december when fees were over $80 for some transactions.

Fewer transactions result in lower transaction fees, which ensures that users merge their bitcoin (BTC) into their SegWit account. Transactions from a SegWit benefit from lower transaction costs.
Suggs noted that in order to speed up transactions, users could increase their rates or take a detour. For example, if you are using a transaction like Poloniex or Bittrex, simply exchange Bitcoin to a third party like Expanse and send it to the destination.

It's this ow because there aren't that much transaction being done since we're well inside a bear market. And the low fees are likely to be the effect of segwit. Ln would come very handy in the future once the value of btc goes on another bull run and the market rises up.

Bitcoin is quite expensive and it is not suitable for small transactions. Fees may be higher than the amount they wish to transfer. It is not user friendly. Moreover, other co-workers have cheaper fees as well as faster transaction speeds

Bitcoin trading fees when you make large, important transactions, the bitcoin fees that customers pay as large. And Bitcoin Coinbase wallet then you can freely perform transactions that are not worry about fees

all wrong. the transaction fees are lower because the spam attack against bitcoin was stopped partly because the cost of the attack grew too big for the attackers. otherwise there is the same amount of transactions being made even in a bear market and i'd wager it has even grown since the adoption of bitcoin is growing. the only difference is that now the transactions are all real instead of being fake spams.
ps. LN is a long term solution

I got to know that bitcoin fees has drastically reduced below down.
As I wanted to send just 0.50$, surprisingly the fee was just 0.16$ in fact the transaction went through in a a matter of a minute or less.
Couldn't believe what i experienced but really that's what we all wanted

If to reduce the cost of bitcoin transactions most likely very difficult to be done by the merchant because with these conditions the trader can only obey the rules.For the sake of a smooth transaction forward without appearing obstacles at all.

Your opinion is very precise and I think you have a genius thinking that you can make money from bitcoin.
Actually I agree with what you say that to woo bitcoin is expensive but bitcoin can pay very expensive money if in transactions because bitcoin have to pay various kind of cost which already exist or which have been provided. however I am sure behind the transaction there will be an advantage to all of us because there will be free bitcoins and we can make money from bitcoin to seek profit for life.

Bitcoin fee is very good for making transactions! I need to improve to quickly be confirmed (or sure the transaction will be confirmed within about 06 blocks)

The charge is also affected by the size of the attached data. A $ 1 transaction may be more priced than $ 1,000 when more data is associated with it. The amount of the charge affects a number of factors, for example, during the weekend there is a smaller number of transactions in total, and thus fees are falling. In order for LN transactions to work, lateral micro channels must be implemented into the blockchain through which a large amount of payments can be made. These payments will be written into the Bitcoin blockchain until the channel closes as the only payment. As a result, the main blockchain is loaded only when opening and closing the channel. Currently, the number of channels and nodes LN is slowly increasing. I'm sure we can look forward to big things in the future whether it's Lightning or something else.

I paid about 14 cents to send 5300USD a week ago.  0.0024528301886792454%.  The issue is speed.  It took 45 minutes.