Bitcoin Forum

Hmmm....this is really great

How sweet could it be if it will be and continue like this.
Yesterday i wanted to send 200$ to my trading wallet and i saw just 0.27$ as the transaction fee.

Unbelievable!!!

The decline in transaction costs will make Bitcoin better become the world currency. At the end of the transaction cost, bitcoin handling speed will increase, which will make people more desire to use Bitcoin.

Just maybe it's because some people already stopped using Bitcoin transactions, that is why the fees is also reduced. But I hope that things will be back to normal again after this bear market.

Nowadays, with the advent of coin, their prices will become more danjhg but they will make the transaction fees have different prices. You can choose other transaction costs based on the fee. Listed on the trading floor

I think it's one of the bitcoin benefits, the transaction cost is very cheap.
Hopefully the future will be cheaper and can be free transaction.

This one of the disadvantages of Bitcoin, but its good when it continues like this because some has resulted in using other altcoin for the transaction they are doing because of low fee..

In my opinion only, I think that its because bitcoin investors are decreasing due to fluctuation or continues downtrend.Thats why the transaction fees is lesser.If the market will continue in downtrend slowly by slowly investors will be in doubt and it will affect the whole market.

This step is probably a strategy in able to encourage more investors to use bitcoin not just for investing but also as a medium in doinv transaction especially now that the transaction fee is reduced. More and more people will be encouraged to use it, as it continues to decrease it surely gives benefit to users.

Definitely I hope for a transaction fee future trade time. But do you think that can help the future and manifest if bitcoin?

I'm even thinking is better the transaction fees for bitcoin gets higher to further push icos and investors to patronize other coins and grow it too. This will help cryptocurrency in general. My wish.

This is really a good news. The drop in transaction costs will make the world of crypto better in the extended world currency. As a result of this, at the end of the transaction cost, bitcoin handling speed will increase, which will lead to people becoming desirous of making use of Bitcoin.

The transaction fee has reduced because the number of transactions has reduced compared to lately 2017. After more people are interested in bitcoin, the transaction fee will increase again. The problem with transaction fees has not been solved yet.

Is that true?
If so, I am very happy. considering the very expensive transaction costs on the days of the previous days.
I think, people will be reduce using Bitcoin if the transaction fee is not lowered. this is a strategy to attract new investors.

Yeah, actually its already happen since last month i think. It's only 4k unconfirmed transaction right now and by looking at this site https://btc.com/stats/unconfirmed-tx, you only need 0.00001 fees or even lower to get confirmed fast.

Yes that's true that transaction fee were cheaper than before so if you want to transfer bigger amounts this is the right time for you.

Last time there's a huge transaction that's estimates worth $300M in bitcoin that has been successfully transferred for a fee of $0.4 cents, yes centavos!

$300 million transferred for 4 cents in fees! (https://bitcointalk.org/index.php?topic=4559937.20)

This is the TX btw. https://www.blockchain.com/btc/tx/39afcad6c4d0713ed291014315c4dcf2d81334275218c28fd354af45b7395c61

No no no, I don't agree with that
How do you know the number of transactions has reduced compared to late 2017. I wipe off my phone i would have show you some proofs

The transaction fee of bitcoin is one of its impressive edges against other payment processors. At different times of the day though, the fee might increase depending on how many transactions are being processed. Naturally, the miners would opt for transactions with higher fees, so it might take a while for some of the low-fee transactions to get confirmed, but eventually it will pass through. There are also cases in which the network is filled with spam transactions, though doing this in the current times would just be a dire effort in making a point.

Around what time yesterday was it? I think the fee fluctuates from time to time. I got discouraged late last night with the transaction fee of $4+ while trying to send $39.30btc from a Coinomi wallet to another Coinomi. I have seen this happen in the past so I decided not to go ahead. I waited until 3am today and then tried again. Viola! It went through on a charge of $0.04. It wss a pleasant relief to me. But that doesn't mean the fee won't go up back tomorrow again.

transaction fee and transaction speed will always be better, the exchange service always makes us satisfied.

and that's not our problem, but our problem today is security exchange. Crypto hacker always takes advantage of the opportunity to steal every coin we keep on the exchange.

I agree with this statement. Here's some proof https://www.blockchain.com/charts/n-transactions?timespan=all
With only ~200k transactions, btc network is almost the same as in 2016

$0,27? i am using a segwit wallet and i did not even spent ten cents for a single transaction that got confirmed in less than twelve minutes after sending it, i think that bitcoin is more stronger than it has ever been, because fees are very cheap now

Benefits for Bitcoin users with its low cost transaction, this becomes an opportunity for bitcoiner to be able to transact as much as possible.
because if Bitcoin more expensive, then the transaction costs will be more expensive.
so let alone we wait, immediately make as many transactions.

that is the problem with reporting fees in fiat terms (like USD) instead of using bitcoin. you are not sending $ to report the fee in $. so you should instead report them in bitcoin or better yet report them in satoshi per byte which is the most clarifying way of doing it.

for instance if i say i paid $1 for my transaction you can't tell anything about it.
but saying i paid 1 satoshi/byte that is more clarifying and shows that my tx size was 16393 bytes or 16+ kbyte. and shows that i am still paying a small fee.

maybe in that time the traffic of the transaction is low so the fee that you need to transfer your money is small, and i think if there are many transaction on it the fee will grow up more and more. so if you want to send the coin, right now is the good time because the fee is low

At different times of the day, charges may increase depending on the number of transactions being processed. There are also cases where the network is filled with spam transactions, although doing so at the present time will only be a serious attempt at making a point. I think the fees fluctuate over time. I have seen this happen in the past so I decided not to go ahead. I waited until 3am this morning and tried again. It made me feel relieved.

currently, the scalability is the main issues until the lightning network implemented. I don't think cheap transaction cost satisfy mainstream. It's completely different when Bitcoin was congested. It still indicated bitcoin still has the scalability issues.

Transactions fees varies from one exchange to the other and one wallet to the other. Am sure you sent your transactions through the blockchain wallet because they charge the least transaction fees  from my experience.

Is it the truth ? If transaction fee reduced, that must be a very good news for today. Because Bitcoin transaction is really good and totally safe. With the reduction of transaction fee, I believe that there will be more and more people use bitcoin

Bitcoin transaction fees has totally been reduced and this is a great thing for the industry and cryptocurrency at large. The fees were enormous as at last year and this made people begin to look for alternatives. But now that is reduced, this is a solid news

depending on the value of the Bitcoin you sent, right.
the higher and the more Bitcoin you send, the greater the cost.

suppose 0.1 Bitcoin is sent, it costs around 50,000 satoshi.
1 Bitcoin is sent, it might cost around 100,000 satoshi.

Exactly. This just proves how bitcoin transactions are more practical and efficient to use –all important features of a future, digital currency

if that happens I think it's good and positive news and maybe investors' interest will be even greater in investing

If it happens like that it might benefit us who save to the wallet, but admin fees can occur following the state of the bitkoin rises! maybe like that !

0.27 it's very cheap, lastly I used Bitcoin to buy goods from someone in Europe, using a fee of 15 USD
BTC price is 15k USD, and fee is 0.001
maybe now I am again interested in using BTC again after learning that the transaction fee turned out to be cheaper

maybe that's because not many people make transactions, so making transaction costs small, but I think if many people make transactions, transaction costs will also increase again.

yes you are right the fee is currently very cheap because the current bitcoin transactions are so small that it makes bitcoin very cheap when sending, the cost of bitcoin will be very expensive when bitcoin transactions are crowded.

That's a good news and that is also fair for us during time of price decrease during the bitcoin value dropping
And hope all exchange follow to the exchange do you use give low cost transactions fees as consediration at this recent dropped value of cryptocurrency.

I am start thinking what btc is really currency with their advantages (fast and cheap transactions) only when price low and people lose interest for him.

This is because of low amount of transactions today. The highest price for transaction fee was in January 2017, when the capitalization of the market was the biggest of all time.

I see a lot of coin has very low transfer fee. TRX only charges 1 TRX, XLM charge is 0.5XLM. You should consider to use them will be more profitable

The transaction charge of bitcoin is one of its great edges against other installment processors. At various circumstances of the day however, the expense may increment contingent upon what number of exchanges are being handled. Normally, the excavators would choose exchanges with higher expenses, so it may take a while for a portion of the low-charge exchanges to get affirmed, yet in the end it will go through. There are likewise cases in which the system is loaded up with spam exchanges, however doing this in the present circumstances would simply be a critical exertion in making a point.

i agree with you,
indeed a very big change is needed to restore it.
i really hope that in the next few months the market will recover again like a few months ago.

Too many exchanges lead to competition. Traders will turn their backs on trading floors with high transaction fees as the basis for many floors to lower their transaction fees. ;D

maybe because now few people start using bitcoin as a transaction and transaction costs are cheaper.
I think this has something to do because Arabic prohibits bitcoin and because the price of bitcoin is now down, so people prefer to secure their money at TUSD some time ago

Low transaction price makes us very happy, it can attract people to the market and revive it.Perhaps because of the bitcoin bans in some countries , perhaps due to a decrease in sales,but in any case this is good news.

That's great and good news, because of reducing and dropping of transaction fee the transaction costs will make the world of cryptocurrency better in the extended world currency because that is our chance and we get a high and big profit.

Recently Blockchain.info has reduced transaction fees for Bitcoin and Ethereum transactions. Myetherwallet can be reduced fee by reducing gas price when network is slightly free.

when the fee wars began in 2014-2015 people were hating that fee's were approaching 10cents. developers promised a solution to scaling that would allow more transactions than the average 2000 transactions and a mechanism to bring fee's back to a level of only a couple cents at worse

role on 3-4 years later
and we see this topics OP celebrating that27cents is great value (facepalm)
and another topics OP celebrating that a block is 2.27mb but only holds 230..

WTF has happened to the community.
seems many have lost their marbles

reference to other topic

It is based on the value of Bitcoin you sent, correct. Assume 0.1 Bitcoin is sent, cost about 50,000 satoshi. If it happens so it can benefit us who save for a purse, but administration fees may occur after the bitkoin's state goes up! The BTC price is $ 15k and the fee is 0.001. Perhaps that is because there are not many trades, so make the transaction costs small, but I think if more people make transactions, the transaction costs will also increase again.

yeah..some of the the crypto have less fee and some coins has no fess as well. i think it will become free in crypto.

I think to be free is impossible, what miner get if all transaction is free. And it will have bad impact for crypto itself. Actually with transaction fee now is already good. And every aspect can get benefit from that.

if it is true that it is very positive news for the development of cryptocurrencies and with decreasing transaction costs, investors' interest will be even greater in investing, with conditions like the present required solutions for the development of crypto currencies

As a number of mainnet LN nodes in Bitcoin continues to increase, I anticipate that more and more people start using Lightning, which would ultimately lead not only to scalability in terms of transaction throughput, but also drop on-chain fees to even lower bounds, following the transactions shift to the Lightning Network.

One of the remaining important things to do is to make LN more accessible and user-friendly for the general public. Initiatives like the Spark Wallet are great examples of heading that way.

The essence itself of a cryptocurrency is low-to-no fees. Bitcoin had reached some critical fees level that had scared anyone who wnated to make transfer (even buy?). Many effort has to be done in order to make it usable when there'll be that huge amount of users.

it is very good so that many people to invest in it and make transactions that are very cheap compared to the day that is gone, and the price of 1eth is now very cheap.

This is the intelligence of crypto players, namely by spending cheap coins to minimize transaction costs. And maybe bitcoin is aware of this so that it starts to reduce its costs

Transaction fee is relative to the price of bitcoin. In other words transaction fee is directly proportional to the price of bitcoin meaning if the bitcoin price drops then the transaction fee will drop depending on the amount of drop. This may be the reason of reduced transaction fee. Another factor maybe the market itself like they are the one who put or value the transaction fee.

blocks on average are only 80% full.. fe's should be a penny
2015 fe's were a few penny and devs said they would do things to bring costs down to a penny/sub penny..

and yet 3 years later, even without blocks being full people are paying 27cents. 5x more than the fee war began

i kinda laugh that people call 27cents a good price. and yet in the many countries that can actually benefit from bitcoin (third world countries) the tx fee of 27cents can work out to be over 5 hours of minimum wage labour.

yes 27cents is better then th few dollars the INTENTIONAL fee war eclipsed to. but that was the plan.. inflate the price to sending spam. make it look like a feature is needed. activate the feature, then stop spamming . and then say the feature caused the decline. .. yet the truth is the feature has done the opposite of helping and it was just the intentional spam that distracted reality of what benefits the network and users

lets just hope the devs sort out the crappy witness scale factor and all the minrelayfee crap so that fee's and transaction per byte and transactions per 4mb can actually be really utilised

Just made a transaction today with a $0.02 fee. Perfect!

That's super nice man!!! I made an international bank transfer recently with $30 in fees.

The fact that exchange transactions are getting cheaper is good news. I do not support the complete abolition of the commission, but I believe that it should be such that it does not hinder the development of the market. Even the smallest Bitcoin owner must carry out operations on the market without attaching importance to the amount of the commission.

Not too surprised. I saw a drop in transaction fees because the bitcoin price was dropping. With this fee, it is perfectly suitable for the transaction. I hope this fee will be kept stable at this level and not continue to increase. This is the motivation for investors to continue using Bitcoin to trade.

Simply because the market is at a low level, trading platforms have to offer solutions that help investors benefit and maintain the volume of a daily trading platform. If they do not reduce the fees, surely many will have to switch to other exchanges for cheaper rates.

Bitcoin has really help in making online transactions at a faster and with a very low fees. I believe that is one of the numerous benefits of the blockchain network. Basically, the transactions fees varies depending on the particular exchange or wallet that the transaction involves and this is the reality.