Bitcoin Forum

I haven't sent btc in a while.  Back when i sent btc, fees were less than 50 cents.  Maybe 3 dollars?  I went and tried to send less than 30 dollars of btc... fees show up as 12 dollars on electrum and thats with the lowest possible fee where i make it send within 25 blocks.  Now if you want to send under 1 dollar, it cost 12 dollars.  When is this issue getting fixed?  Who in their right mind would send btc for small amounts when even the fee is that much?  Its like paying 12 dollars for something you want to buy that is 1 dollar?

Yes it's crazy right now. Bitcoin'popularity has just exploded which caused the fee also to rise when the price did. But when they implement Lightning transactions the fees will go down and the transaction speed up. Remember that it's still early in the blockchain technology.

The fees for bitcoins are now very outrageous and can give you heart ache when you really want to send small money with large fees

I guess this is why some people prefer bitcoin cash over bitcoin. The fees are ridiculous and transaction times are way too slow but the growth has been unprecedented it needs time to take a breather i think. Bitcoin cash and Dash will likely benefit if Bitcoin issues aren't fixed soon!

Yup the fee structure is ridiculous here on electrum but you can try to lower the fees even further if you are not in the hurry of getting the transaction done. However if you are sending the payment in urgency then we have no option but to send it with higher fees. I have experienced same problem for last to last fork when he fees went all upto 20 USD per transaction for sending the BTC within next 25 blocks. It is almost impossible to choose the next 5 blocks option which is the quickest one because it is more than 20 USD now due to increased prices of the bitcoin int he market. So you see we have to adjust the stuff here otherwise there is no way we can reach the high threshold of seining payment for which the bitcoin was actually invested. :-)

Yeah this is due to more number of pending transaction on bitcoin network currenctly there were 130K transactions were pending this is 10 times more than normal pending transactions this shows that more number of people started using bitcoins so we need to improve the bitcoin transaction time by implementing lightning network or the condition will even worse in the coming days.

Nowadays the transaction fees is really high. For transferring 0.24 btc from my electrum wallet to exchange wallet the transaction fees was 0.08 btc two weeks back. My suggestion is if you want to transfer small amounts try to use bitcoin cash were ever its possible because the fee is really less and use bitcoin only to transfer high amounts.

When was that time that you sent a transaction with a 50 cents tx's fee? because I am curious also to how many transaction numbers are involved in the Bitcoin network that time. The number of Bitcoin transaction per day now is averaging 330k+ for more than 1 month now and that's a good sign though as the price of Bitcoin is also increasing but the downside is the tx's fee are riding also.

Sending a micro transaction nowadays using Bitcoin is very frustrating so the best way for you to send a small amount of payment is to convert it to some other Altcoins that offers a very small amount of tx's fee.

Have you checked out the price of litecoin recently? It is now no. 3 in exchange volume behind bitcoin and ether because transactions fees are cheap. A $25 bitcoin transaction fee is only 25 cents using litecoin. Whenever I have to send a payment I try to use litecoin if possible until LN is working.

It will be fixed. They are working on lightning network now. It has the biggest group of developers of all coins, and they will have an advantage over other coins.

I agree with this. Litecoin is a very good choice even at this price. I think it will be around 2-3 000 USD next year.

If you're going to use segwit and with the coming of LN , have patience. Nothing you can do about.



Nobody.


Again, if you really want to buy something worth 1 dollar use paypal or a credit card right now.
I won't say altcoins because less than 15 of merchants accept altcoins.

The thing is that you pay for a space not for value.
You pay 12$ for both 10$ or 10millions $ (assuming same number of inputs).
So with no space and more demand... higher fees.



And to all others saying LTC
With LN litecoin will become useless

Exactly that is what the reason why people are saying having a higher bitcoin value won't do a thing for its development, it will technically affect the economy of bitcoin since while the value is rising the fee is going up as well. It cannot be fixed and the other reason is the hardfork of bitcoin cash since they are miners who reject bitcoin to start another coin and because of that bitcoin blocks can overload anytime so they need to at least get a higher fee for that, also I think there is a fixed amount of fee per transaction so you cannot make a transaction less than the fixed fee you may at least double it so your transaction won't be wasted. It is a problem tho because now no small amount transaction can be generated.

Bitcoin really needs 2mb blocks until solutions like lightning network are live otherwise it is going to hurt the bitcoin economy which is already becoming mainstream. I agree with OP that other coins will gain ground if we don't see a short-medium term fix soon.

As people already have said, BTC has really high costs due to the network being clogged. There has been so much hype and thats why it takes so long. People are now using LTC to transfer between exchanges/ brokers, I think you should look into that. It has quick transfer times and low costs, Ethereum is clogged up too so LTC is probably your best bet.

The fees are actually up in the roof and that actually made me suspend the little transfer I wanted to transact three days ago so I could accumulate it more because is still going to take same deduction when accumulated. Is fees are actually stalling some transactions.

Does anyone know how long it would take for the fees to go down in price?  Also why would anyone use bitcoin anymore if this is the case?  Also i recalled electrum you could actually put zero fees and it would send but it takes a while.  So right now if you send btc with electrum, you have to minimum put it 25 blocks right?  Thus no more sending btc for free?


So that means you all are not sending any btc unless its at least a certain amount?  I mean imagine sending $5 about 10 times or so.  That is ridiculous.

Yea, It is really crazy than the usual transaction that we do recently unlike not it would take you a tiny bit of fortune just to send a buck. Well, its because of Bitcoin's popularity to the community. And the new all time highs that it passed . More and more unconfirmed transactions are put into the blockchain with small fee that's why their asking for big ammounts just to get your transaction confirmed in just 1-2hours. Well you can still set your fee to low if you are not in a rush. Imexpectijg the fees to go down by january

Fees are high, that is true but with such high bitcoin price it is illusion to expect for fees to stay low. Would bitcoin ecosystem be sustainable with low fees? Maybe with some agreement or consensus with miners they could be more moderate or find some solution at least not to go higher anymore. But the question is how else could network with such big increase of users survive and develope further.

Perhaps but LN is nowhere close to finished so LTC is proving itself the best option until then if you need to transfer under a few hundred dollars quickly and for less than a dollar.

usually fees is good because you can't see any kinds of transaction like here in crypto so for me there's no problem in fees and you can also deposit some of your money in bank not here if you have problem in the fees here that is simple only,think if we have crypto where we can find a transaction like the conveniece here,fast and easy way.Fee is only a little thing compare to what it gave to us,and they say also here is no assurance in money but for me it's more sure here to save money than bank even bitcoin have volatile,we need this in life so it's non stop

Man you're asking quite a few...


Until one thing of the following happens:
a) people switch to segwit
b) LN
c)  people stop using it > free space in the blocks > fees down


Because some are moving internationally 3 to 1000 BTC , that's millions with 7$.
Try that with a bank.

See:
https://bitcointalk.org/index.php?topic=2345724.0


Yes. Anything that will cost you more than via pp or cc or whatever... your choice, but it's going to cost you.

This is why Bitcoin will not gonna be a real currency because of this. The fee is hurting me. It suppose to be a low cost and fast transaction like it was before. The fee could cost you with $20-$25 per transaction you're doing. That's ridiculous amount to send funds. Bigger than fiat transactions. They should implement now the Lightning Network. They should implement it fast. The fees isn't a joke anymore. So the old Bitcoin will back again. The low cost and faster transactions.

The fees are amazing, in addition the speed of the transfers is rather slow, the minors put themselves well

Electrum's fee estimation algorithm --- like many other wallets --- tends to overestimate the required fees. When I send based on their fee slider at the 25-block setting, I've often had transactions confirmed within 1-3 blocks. For that reason, I usually manually set the fee lower based on https://bitcoinfees.earn.com/ and replace-by-fee if needed.


The base protocol isn't going to be "fixed." Fees are denominated in BTC, not dollars, so as the price of BTC rises, you can expect fees denominated in dollars to rise. Also, the capacity limit promotes rising fees over time to replace the block subsidy, which used to be 50 BTC. Now it's only 12.5 BTC and it will continue to drop exponentially. If fees don't rise, Bitcoin's security model comes under threat.

The Lightning Network will hopefully mitigate this and allow for micropayments. But I would guess we're 6-12 months away from LN adoption, if not more.

Does anybody knows when the lighning network will be operational. Im really annoyed with these ridiculous fees and the slow transactions. For sending between my exchange accounts i even use another coin to cut cost.

There are two major reasons involved in such upsurging fees. One is the price of bitcoin which is increasing everyday so every satoshi is becoming more and more valuable. Second major reason is mass adoption. As more and more people are coming over the network the traffic is increasing so the fees is increasing for miners to keep track of such transactions.

Getting closer not there yet watch https://youtu.be/a73Gz3Tvx3k should lift your spirits:) Also visit https://github.com/ACINQ/eclair/releases

yea crazy situation currently. same with eth due to that kitty game... hope that something is gonna change here.. in fact the current development makes cryptos more and more useless for what they where actually developed --> payments.

Just a question too, how much is it in bitcoin? You are sending 200k satoshis only and you are going to pay what 50k sats?

You know what the problem is? You are doing the transaction in dollars not btc. 50k is easy to get before and they are doing that high fees because of that low amount of transactions that is causing traffic.

One more thing, you said you were away for a while so how much have you profited already for your kept coins?
I guess it wont hurt much for that little amount.

Guys, don't forget! high fee is the payment for priority and urgent transfers. If you don't want to pay crazy fee, just put some standart small fee and wait for a weeks. Don't look at fees, that we had earlier. The fees are calculated in satoshi, but price of bitcoin went up in many times last time, so i find this  fair , that the fee in in dollar equivalent went up too.

I acknowledge that current fees might be a little over the top, but compared to recent price surge it seems not that bad.
So you want bitcoin price to reach millions yet you refuse to pay for bitcoin transaction? Bitcoin network is congested, fees can't be easily scaled down.
Bitcoin turned out to be a great investment, asset and store value - but not so great currency - just deal with it. Maybe LN will change that.
Because I don't see any way for on-chain transactions to scale accordingly.

Bitcoin transactions will be really large with a small fee. Unless there is a client that allows for small fees implemented into it.

Yeah Bitcoin is great until you try to use it!

I too bought something with Bitcoin today and got screwed by Bitpay and by fees. I have bought take away with Bitcoin for ages, but I am done now. It was 41€ for a 24€ order. What a joke.

It's digital gold at the moment, not a currency.

I am confident that we will be using Lightning wallets on the mainnet in 6-18 months. Unfortunately, it is/was an incredibly large endeavor. The various developer teams have only just established the network specifications and begun testing mainnet transactions.

There is a lot of work to be done testing based on network topography and tweaking routing, and they still need to build wallets for users. LN developers have said they are in "no rush" since they their top priority is making sure that no one loses funds using the new protocol. That seems fair enough to me.


I hear you. Two things you should consider, though. First, BitPay could have implemented Segwit, dropping fees in half --- they didn't. Instead, they began charging customers a "network fee", doubling the required fee. So, using BitPay has effectively quadrupled the effective fee that you need to pay. This is why I support BTCPay (https://btcpay-server-testnet.azurewebsites.net/).

Second, it's pretty obvious that the network is getting spammed hard. We saw a similar spike last month when Roger Ver and Jihan Wu were pumping Bcash. When fees rise 40-50x in a couple weeks, you should know this isn't organic growth.

now too high a price for a bitcoin transaction. I need to use other coins for the transaction. this makes bitcoin not convenient for payments

I would suggest that if that transaction isn't necessary and can be done in some other days or maybe a week or month, wait for that time until the fees started to be calm again. We can't do something about that today since miners are really looking for those transactions that has higher priorities and paid more than others. Some traders are converting their bitcoins to other altcoins like Doge and ETH to send their funds to others and just converting it later on but ETH has the same problem too. Crypto's are totally in demand today.

Excepting a few scattered posts by well-informed persons, this whole thread is moronic.  Just a place for FUD and fork scamcoin pushers.

First question for the whiners:  Are you using a Segwit address?  A Segwit address will give you an instant discount of about 75% on fees for every transaction you send.  If you are not using a Segwit address, then shut up!

I use Segwit addresses; and I laugh at all the people paying 4× the fees for the same size transactions.  You are essentially making a donation to miners.  You are so kind and charitable.

But that’s not the most important issue here.

What you really need to understand is that Bitcoin doesn’t give a damn about you, the special little snowflake.  Bitcoin doesn’t need you.  Big money is moving into Bitcoin now.  If you don’t like Bitcoin, then dump it now and go be poor.  Someday, you will miss Bitcoin.  Bitcoin will never miss you.

HTH, HAND.

I think that it would be the best possible way here after to avoid such higher fee.Lightning ntwork is in its beta stage and we could soon hope for it to get activated.

Litecoin also have essentially a 4 times bigger block size and about 1% of the the transactions, so yes LTC should be cheaper and faster to use than BTC.
Unfortunately though, LTC will never be as big as BTC. It offers no real technological advancement, it is Bitcoin x4.  If Bitcoin fails, Litecoin will fail too, 100%.

Bitcoin needs to get it's house in order if it will ever be a viable currency, but then I really don't think that 95% of people even care about that, they just want something to speculate on.

Bitcoin fees are ridiculously crazy right now. Since no one ever regulating it. They just take advantage of the popularity of bitcoin. I wish someday more online wallets will pop out. So it may happen they wont ever be able to monopolize this transaction fees. Its all just due to their greediness.

Why are you and other people complaining about the transaction fees when it only costs around 0.0001 btc to send something?

Man, you have to know that the exchange is not in accordance with the transfer of this fee, and bitcoin now has more than $ 16,200, the cost can not be underestimated ah.

If i can talk it is crazy But i dont want to say bitcoin is crazy because bitcoin is my favorite coin forever.
Two things we have to fix about bitcoin weakness is fee and transactime time very long.
If the developer or anybody who knows how to fix these problem, i will personally thank you very much.

Oh, since you are trying to send it from some kind of exchange then it's their rules. I could see why something like 0.0005 btc would be expensive.

A desktop wallet can easily send 0.0001 btc.

We say Bitcoin price is skyrocketing and so in Bitcoin sending fees. These high transaction fees give you two choices either spend a large amount of money to make a quick transaction or wait for days nearly more than 3+ days to to see even 1 confirmation. Right now, situations are like this that if you want to make quick transactions for small amount of Bitcoin you may need to pay more fees than the actual amount you need to transfer. It is seen one of the biggest flaw of Bitcoin these days, which is making it center of criticism everyday.

Hey all would like anyone that uses electrum wallet or similar wallet to give me advice on this.


Do most people send btc within the 10 blocks as recommended by electrum?  Sending that cost around 13 dollars.  But if you do 25 blocks, its about 7.  Is that much faster 10 blocks than 25?


Also im not going to do this but you could still change the btc sending fees?  For example i went to preferences and unchecked dynamic fees.  It shows the max static fee as 0.003 btc/kb and checked.


When i unchecked it and then went to send option to see how much the fees are, assuming you put 0.02 btc to send and move the scrollbar all the way to the left, its only a bit more than 1 dollar to send.  It shows as 0.0003btc/kb which is around 1.14 only.  But when you move it to the right a bit when its no longer low fee and says fixed rate 0.0012btc/kb and says within 25 blocks, the fees are about 4.50.  Then when you keep scrolling to the right and say within 25 blocks, it would say 0.0015btc/kb etc and it would go higher 1 dollar and then 2 etc.  Then when it gets to within 10 block and 0.0027 btc, its about 10 dollars.


So basically dynamic fees should always be checked or not?  Or only if you need the btc to be sent pretty quickly?  And it should be kept at 0.003btc/kb or could you change it to 0.002  or 0.001btc/kb?


So you could still send with essentially the low fee of a bit more than 1 dollar but its a low fee send.  That will take about how long?


But if you do the within 25 blocks and 7 dollars without changing dynamic fees, is that still okay?


I was used to back then sending btc for under 50 cents back then.  Can someone tell me what is the best value to send btc in terms of price and speed?  Thus if you send with low fee, don't expect it to hit the other wallet for a few days or so?  But if you do 25 blocks, should be same day but not hours?  If you do 10 blocks, probably much quicker?


Like if im trying to move my btc from a wallet to a site but i dont need it to get there quickly, would you say its mine to use a very low fee or not?  But if you want it pretty fast, either do 10 blocks for 13 dollars or 25 blocks for 7 dollars? 

Also can someone tell me what exactly is the default max static fee on electrum?  Is it 0.003 btc or 0.0003 btc?

I've always thought that btc taxs are too high and tried to make less transactions as possible, but in recent months, with those current fees my coins are literally stuck.

i think the max set fees is 0.003 but its better to set your own fees in electrum wallet , last day I sent  0.03 btc with an 0.0005 btc fee to speed up the transaction and it went through in 2-3 hours .

The transaction fee is now the problem due to the price of bitcoin increase a lot,  it affects everything,  I think,  because some coins dumps while the fee of transferring coins become high which the trader have nothing to do but to pay it.  It is really appreciated if their is a developer who can fix it.

Can you explain how you did this on electrum?  So what you put for max static fee?  Did you check use dynamic fee?  Did you check edit fees manually?

Before you send the btc, did you put down 0.0005 btc fee by typing it yourself?

to be honest we are responsible for these high fees as we are fond of using low fees when sending out payments which leaves miners opting for high rewards leaving behind a batch of low transaction fees to be dropped by the network or pile up, and the only way to get ahead of this pile of transactions is paying these high tx fees.

If I want to send fast and cheap I use litecoin. When I am sending bitcoin I don't cheap out on fees.

Recommendations for Electrum:

• use change addresses
• coin selection priority and dynamic fees
• spend only confirmed coins
• propose replace by fee always
• set the fee slider all the way to the right (maximum)

As long as you always use replace by fee you can experiment with moving the fee slider a step to the left (cheaper) and always bump the fee up if confirmation is taking too long.

Hi there well i have to send btc because im trying to send to a site that take btc.

I dont want to pay a very high fee for it though if a lower fee would take around the same etc.

Transaction​ fee is not negotiable now. Some time it shows very unexpected price. Bitcoin is on higher price. It can be a issue here.

Regulation can't solve anything in a decentralized protocol. At most, it can affect adoption by encouraging or discouraging use of the protocol. Fees are determined by supply and demand: limited block space vs. demand for transaction confirmations.


Market competition among wallets won't change anything. No one is "monopolizing" the fee market (although Bitmain is probably manipulating it). There are many wallets which allow you to set whatever fee you want. You can send transactions with a 1 satoshi/byte fee rate, but it might never be confirmed.


This is only true because the network is small; nobody uses Litecoin to transact. Its protocol is just a clone of Bitcoin with different parameters, so it has the same fee mechanism.

The fees are completely ridiculous and it needs fixing very soon, I don't know whether it's the miners that have become greedy or not but the current transaction fee's are totally unacceptable.

Yes I know this is ridiculous. I don't know the reason myself and am heart broken by this. You may just lose your profits from trading while on the process of withdrawing your funds.

I think it's normal that Bitcoin's delivery fee is high because Bitcoin's price also keeps rising. indeed it is very annoying but what can make transaction costs are expensive

The price for bitcoin sending indeed expensive this is very different from last year or last month. this also because the number of demand for bitcoin increasing.
But if you just want to send 1 dollar better don't have to because you will definitely loss.

your not alone, I feel it too.. last week I send my bitcoin with fees $ 0.9 but this week I send $ 49 in btc with fees $ 17, that's crazy.. I do not understand why the sending fees increases very significantly in a few day..

It is awful. You should use Etherium or anything else for small and fast transactions. Bitcoin now is for holdings or transfers for pople, who have large capital and needs to send large amunts of currency.

Enjoy your kittens, Etherfan.  But for serious use, Ethereum will not be replacing Bitcoin anytime soon.  Or ever.

By the way, Bitcoin users can get a 75% instant discount on fees by using Segwit addresses.  Check your wallet’s documentation.  If your address starts with a “1”, then you are overpaying 4× on fees!  Your fault.  Don’t whine.

Use Ether instead, only if you wish to die of acute cuteness.

That is really starting to be annoying very much. Such transaction fees and very long transaction time? That is not good for the future of Bitcoin I would say!

Bitcoin users can get a 75% instant discount on fees by using Segwit addresses.  Check your wallet’s documentation.  If your address starts with a “1”, then you are overpaying 4× on fees!  Your fault.  Don’t whine.

Bitcoin transactions fees and time, are an issue that has been going on for quite a while, this problem started when bitcoin became so popular and so expensive along side the increase of the mining difficulty, see bitcoin mining is so expensive and requires a lot of hardware to do it, which makes it accessible for a handfull of poeple, and since miner are the ones who verifies the transactions, makes them slow because of how many transactions that are going on inside the network, and this means if you pay more fees which go to the miners the faster your transaction will be.

Miners are not “the ones who verifies the transactions”.  All full nodes are responsible for verification and validation.  Miners perform exactly one function:  They choose an ordering of transactions in a Byzantine fault-tolerant manner.  That is what miners do.  Important though that is, it is all miners do.

The rest of your post was mostly incomprehensible gibberish; but I gather that you are concerned about fees.  Therefore, I😠 must 🚨advise🚨 you that you can get a 💸💎💸  75% instant discount on fees by using 🐲Segwit addresses. 💸💎💸  Check your wallet’s documentation.  If your address starts with a “1”, then you are overpaying 4× on fees!  Your fault.  Don’t 👶whine.

Hello?  Is this thing on?

I had a micropayments with my friends and fees are expensive. it makes me feel angry. i hope bitcoin core will fix this matters because if they won't fix this thing then people will shift to other altcoins just like Bitcoin Cash,Ethereum and Litecoin

People are making rumors if bitcoin is sending fees then it's most best way to get even more coins. I'm holding bitcoins because oneday bitcoin fee will be reduce and i would able to sell my bitcoin at the best best price without cutting. So hope for the best. As bitcoin going with the light speed i don't think that fees will be reduce in the future.

ETH sucks for micropayments, just check the gas station - https://ethgasstation.info/

$0.5 fee for $3 coffee? Reeeeeee where's my million transactions per second, Vitalik?

Bcash is not much better with $0.2 fees - https://bitinfocharts.com/comparison/bitcoin%20cash-transactionfees.html

Hmmm, lets check Dogecoin - https://bitinfocharts.com/comparison/dogecoin-transactionfees.html

Only $0.0056 per transaction! Holy shit, Dogecoin is the new Visa!

You just made my day.  Dogecoin is the solution!  Now that I have seen the light, I will stop subtly (https://bitcointalk.org/index.php?topic=2579216.msg26393314#msg26393314) hinting (https://bitcointalk.org/index.php?topic=2579216.msg26398344#msg26398344) about the 75% discount on Bitcoin fees for using Segwit addresses, and instead advocate that all the fee whiners should dump Bitcoin and switch to DOGE.  Actually, they should invest all their money in DOGE.  They should sell all their possessions, mortgage their homes, mortgage their grandmothers, and invest all the money in DOGE.  Woof!

But the code for doge has not been updated for nearly four years, on github, and the transaction volume is not large, it is an altcoin that should be eliminated. I think we should choose the altcoin team that keeps moving forward.

Indeed now all transactions are experiencing a rise so very sorry If there are hunters whose income is still small And if you want to use must only run out to pay the fee course Hopefully in a short time there will be solutions from the authorities in solving all these problems And hunters can feel the results maximum later.

You’re just a hater.  Bitcoin is dead.  DOGE is going to the moon.  DOGE is the future! 🐕

Exactly since the bitcoin price rise up fees are ridiculouly expensive. This is the reason why an everyday crypto users are switching to altcoin to avoid the fees of bitcoin.

Let me fix that for you:  “Exactly since the bitcoin price rise up... everyday crypto users are switching to altcoin to avoid... bitcoin.”

Yes, some people are stupid.  So what?  “A fool and his bitcoins”, as the aphorism goes.

I am astonished at the legions of drooling morons who complain about fees—without ever pausing to observe that the value of their own coins has already gone “to the moon”, and is now en route to Mars.  The engineers are working on scaling solutions which will enable you to efficiently buy cups of coffee with Bitcoin.  Meanwhile, what you are complaining about is that Bitcoin is valuable and popular.  Hmmm.

Yes of course this will happen. The cost of bitcoin transfer is getting more and more unreasonable. Of course this is based on bitcoin prices are getting crazy every day. My suggestion try using the popular coin ALT with lower transfer fee. For example LTC which has a transfer fee is not so much.

I think they just using the opportunity to use the transaction fees in also to earn with the recent surge price of bitcoin.

But in any case, bitcoin is not suitable for small transfers because of congestion in the blockchain and rising transaction costs.

The reason for high fees is because your wallet and the services you are sending Bitcoins to do not have Segwit enabled. Segwit increases the transaction capacity in each block by almost 2x. But why is Bitcoin's biggest services not enabling it?

It is right there sitting on the network waiting to be used! Plus the increase in transaction throughput by almost 2x may not sound much but it is enough to help lower fees.

The fees are crazy, it's really frustrating. I transferred about $40 worth of bitcoin the other day and got about $30 in my wallet. I really hope something is done about the tax issue. If not then I think another coin will take it's place in time.

I think continous price is due to the sky rocketing price of bitcoins. as the price goes high transaction fees always ride in, but my question is do those increase in transaction fee have some improvement with it. It is quite annoying to be ask by a high transaction fee wherin there is not even transaction speed improvements. But i hope those a sum of those fee spend with security improvements and not just a mere income from the processors.

This is not a tax deduction my friend. It is simply a bad situation that are being exploited by the Bitcoin miners. We are sort of inbetween two scaling solutions now. On the one hand we have the old legacy Bitcoin addresses and on the other hand we have SegWit addresses.

The miners and some people with hidden agendas are sabotaging the Bitcoin network by similtaneously spamming the network and also mining selectively. <jumping between BTC and BCash> This is causing backlogs and congestion on the BTC network, which in turn increase the miners fees. The miners loves this, because they get more income from these higher miners fees that has to be paid.

We hope the Lightning Network will solve this problem in the future.

i think no. i always use different wallets like electrum, blockchain, coins.ph and coinomi but why the transaction fee is still  high?  i dont think that these wallets do not support segwit or enabled segwit in their services. the main reason why transaction fees are high its because of bitcoin value. the higher it is , the higher the fee also but the lower it is then the fee will be lowered also.


i agree with it and infact bitcoin has undergoe for many segwits since the time it was born and introduce to the public but why bitcoin blocks are still the same that is why transactions are still getting stucked and caused a network congestion.

I should also point out, any miner other than Jihan who mines Bcash is a fool.  ASICBOOST is a security exploit (https://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2017-9230) in Bitcoin’s mining algorithm, which gives an unfair advantage over other miners.  ASICBOOST has been patented.  The covert, undetectable form of ASICBOOST was permanently stopped by the activation of Segwit in August 2017; Bitcoin is now safe.  But Bcash is still wide open!

There is strong evidence that Bitmain was exploiting covert ASICBOOST before Segwit was activated.  No wonder Bitmain hates Segwit and loves Bcash.

If you mine Bitcoin, then you are mining on a level playing field.  If you mine Bcash, then you’re Jihan’s patsy; and he’s laughing at you as he pays 30% less than you for the same work.

According to gmaxwell (https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html), the covert ASICBOOST vulnerability was fixed inadvertently; it just so happens that covert ASICBOOST is “significantly incompatible with virtually any method of extending Bitcoin's transaction capabilities; with the notable exception of extension blocks (which have their own problems)”.  In layman’s terms, this essentially means that Bcash can never be upgraded with new features and new technologies.  Any real upgrade to Bcash would deprive Jihan of his (not-so-)secret advantage.

I don’t know about the others, but Electrum 3.0 does support Segwit.  You will need to create a new Segwit wallet.  By default, Electrum will give you the new address format with error-correcting codes; those addresses will start with the letters “bc”, and only people with Segwit-enabled software will be able to send money to them.  There are also backward-compatible Segwit “3” address, such as the address you see in my signature; anybody can send money to that, even with old software.  There is a method to make Electrum generate that address type, but it is somewhat more involved; perhaps one of these days, I should write up userfriendly instructions and post them in the Electrum forum.

Yeah the sending fees of bitcoin is really high others are thinking if they will transfer their bitcoin in other place like in exchanges or not and there is nothing we can do about it but to accept that the fees in sending bitcoin is too high because the price is too high. I prefer litecoin to use when I am sending fees because it has a small fee and it is transaction is fast.

fee back today to 4$ problem with network and miners not bitcoin.

today sending bitcoin depend on luck if you lucky will send it with 1$ only else 15$

The high transction fee of bitcoin is being the serious problem in recent times,I don't know when it will be solved.Yesterday I sent  $40 and fee is $10 .If fee is keep on at this rate then bitcoin may fall so need to implement the lightning network as soon as possible.

The fee is a problem. this make only large amont transfer OK. and it is not cheap for small ones.

I've been wondering how to go about making bitcoin transactions. Even with the lowest fee option it's still too high for the amount I'm transferring. It's so discouraging and the earlier the lightning network which is supposed to be the solution is implemented across board the better.

Hey all.  I sent btc but did not have dynamic fees checked.  I sent the btc where i moved the slider option on electrum to the within 25 blocks but i choose the one that cost the least.  So i paid about $3.70 etc but not sure how long it would take.


On average, how long does it take for btc to be received when you pay a fee around $3.70?  What about $13?  What if you did like $1?


Also it depends on the size of the transaction right?  What determines that?  The amount you send whether its 1 dollar or 1000 or 10000?  Or its something else?  Because when i was playing around with electrum, it seemed that any btc i put down and clicked preview to send, it was same flat btc amount to send assuming i pick whether low fee or within 25 blocks, 10 blocks etc.

bitcoin fee is high because you earn high from bitcoin.

just do some simple calculation  and will find yourself winner if you pay 10$ fee

really? then thats cool. thanks for the verry informative coment. im also using an electrum wallet but i didnt know what versions i currently used but now im gonna update my version to 3.0 to be able to support and use that segwit feature in order for me to enjoy lesser transaction fees and faster transfer time when compared to some wallets that doesnt support this segwit option. although some wallets like coinomi and blockchain are still have an option to adjust your desired fees whether you want low or high priority.

bitcoin transaction fees goes crazy now because of these price increase and a high volume of transactions everyday, that high volume of transaction had cause some confirmation delayed, so they implement a high fee for every transaction for the fast confirmation. but i think if they implement a high speed confirmation in blockchain, the transaction fees will back to normal as we paying before.

You’re welcome; and yes, indeed!  From the Electrum Version 3.0 Release Notes (https://github.com/spesmilo/electrum/blob/2774126db6c258807d95921936eb13af07047d97/RELEASE-NOTES):


Always be sure to download the latest version of Electrum directly from the official site at https://electrum.org/ (https://electrum.org/), to avoid fake sites which may infect you with coin-stealing malware.

Yes it's crazy right now. Bitcoin wasn't ready for this mass adoption so quickly. So fees are real to much to handle if your stack is low.

Thats really nice, I was wondering why it shot up so high up in the rankings. THe bad thing is that its not as widely used as BTC and ETH.

And markets are rubbing their hands... fee with every transaction, every exchange... nuts..

Are you sure that's the reason why bitcoin transaction fees getting so high these days. I do not think there is any relation between what we earn with the fee. Logically, not all of us are earning high amount from bitcoin. There are some other get nothing or even worst get into negative profit. It does not make senses if the reason is related to our earning.
IMO, it is more about the volume of the transactions which is so huge and makes the network so crowded. It forces the miner to increase the fee for faster confirmation. I could be wrong on this, just my opinion though.

Because of many new investors coming into bitcoin world there is many new transactions, which create a lot of work that needs to be done. Also there was that hacking problem at Nicehash, so a lot of their miners are not working at the moment, and that means less power for processing transactions. When everything settle down and they start to do their job again, everything will be back to normal. Also transaction fee went up because of bitcoins price, and with correction of price fee will go down as well.

So more work to be done higher fees.

I just sent some BTC (very small amount) I included a 40/sat transaction fee, im hoping it gets confirmed soon. Blockchain.info wanted to charge $50 to send the bitcoin, I changed the fee to 40/sats costing $10 but it hasn't confirmed in 4 hours

We are all experiencing the same problem since a fork in bitcoin just had a fork maybe that is the reason why, and the transaction fees right now is higher than the usual because bitcoin's price is so higher than the usual too. Miners are taking this opportunity to earn bigger profits because they know that many people will transfer their bitcoins on some exchangers.

transaction fees are indeed insane these past few days. i hope the cray cray in traffic subside soon. or let there be brilliant mind people who can make the transaction faster and cheap!

Exactly my dilemma at this moment. When I tried sending 5$ but the fee is 14$. I don't understand why there's a lot of hardforks going on but this problem has not been addressed. And one more thing, bitcoin transaction takes longer than usual and costs so much. It's not practical using btc for transactions anymore.

Mining difficulty has nothing to do with fees. Price has nothing to do with fees. Miners are not "verifying" transactions the way you think
We experienced a brief period of high fees (around 5$ when bitcoin was 3000) , it's 6 times more and the average fee is nowhere near 30.

The only thing that has impact on the fee is the number of transactions.



What in the name of god where you trying to say?
Stop using google translate, you will get banned pretty soon for this garbage.


As explained above, price has nothing to do with the fees.
And you can check the graphs for the last two weeks price/fees.



Paying a higher fee is not like getting a better room.
With limited place in a block, the tx is like the auction for the space in the block.
You get the first one or the second or maybe none.


For estimates check
https://estimatefee.com/
I find it more reliable than fee21

Yes, the fees depend on the size, you can complete in the above link the number of outputs and inputs of your tx.
And as I explained before, you pay for a place in the block, not for the sum.
Assuming the same number of outputs and inputs, for a normal transaction the fee is going to be the same for 1$ or 10$k.

Welcome back to the economy, and observe the foolishness we have been up to in your absence LOL


This is purely the result of the price. We have managed to run this thing up to the moon, but on a crap rocketship. The price at this level, according to Satoshi, should indicate that the protocol has scaled accordingly, and adoption along with it. This is a result of speculation, not adoption. So, programmatically we have not truly fixed the fee situation (the congestion situation ;) )

And the confirmation times suck now too :(

Think of BTC as a utility token. Fees are based off of price, and price set by demand. Demand should derive from the actually usefulness of the coin in this case; what has changed so much about BTC recently, usefulness wise, to justify this price?

Yeah, what you say is true,  bitcoin really takes too much amount of fee when you send even less amount,  this is actually one of the thing that bitcoin must fix.  Really an abnormal thing to send 1 dollar and have a 12 dollar fee. 

Specifically it is the average value times age that matters.

a transaction to require a fee it's possible that as time passes and new blocks are found, the transaction's inputs will age its priority will increase which automatically may no longer cause it to require a fee.
all fees are in turn keeps the Bitcoin network secure.

No one is sending small amount lately which makes Bitcoin network useless for many people.
It is ironic to know that the first bitcoin transaction was sent to pay for a pizza, now no one will do that because of high fees.
Everyone want to buy Bitcoins and hold but what will be it good for if you can't use it as a regular currency!
Maybe the lightning network or something else will fix this problem otherwise Bitcoin will have no future.

Yes it's crazy right now. Bitcoin wasn't ready for this mass adoption so quickly. So fees are real to much to handle if your stack is low.

It is awful. You should use Etherium or anything else for small and fast transactions. Bitcoin now is for holdings or transfers for pople, who have large capital and needs to send large amunts of currency.

Hope they don't so that the value of the HODL won't be any less.hehe

Two days ago I made a trade at localbitcoins, and I paid approx $23 fee to deposit $100 in localbitcoins.
Its very disappointing, and there is no solution for it as I can assume. Below $500 transaction in bitcoin I'm considering as "very expensive".

The price for bitcoin sending indeed expensive this is very different from last year or last month. this also because the number of demand for bitcoin increasing.
But if you just want to send 1 dollar better don't have to because you will definitely loss.

yup the price now of BITCOIN IS HIGH and I don't be surprised of the fees. my CONVERSION from 180 USD to btc is about 20 Dollars .. in my local money ranging form .00904636 coins. My earnings from ICO is just alloted to fees . Undecided exchanging tokens to eth to convert to BTC is just meh. fees are so high .same as me well and I think it is also a part of commission of exchanger sites  fees are 0.001BTC

See also: Techniques to reduce transaction fees (https://en.bitcoin.it/wiki/Techniques_to_reduce_transaction_fees)


(Giant-sized Segwit ad (https://bitcointalk.org/index.php?topic=3055616.msg31694435#msg31694435) credit: ETFbitcoin (https://bitcointalk.org/index.php?action=profile;u=359716).)

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What you are describing are EXCHANGE FEES, not the Bitcoin miner’s fee.  If your “CONVERSION” fee is high, then you are using an expensive EXCHANGE.  Switch to a different EXCHANGE, and stop the ignorant whining about Bitcoin.  Bitcoin’s own fees are low right now.

Also, ICOs are all scams; thus, I am not surprised you don’t make much money there.  I suggest that you drop the sigspam for a stupid shit (https://bitcointalk.org/index.php?topic=3013604.msg30997322#msg30997322)coin, and learn something (https://bitcointalk.org/index.php?board=39.0) about Bitcoin.  Perhaps you may even come to know the difference between getting ripped off by an expensive exchange, and the Bitcoin transaction fee (https://en.bitcoin.it/wiki/Transaction_fee).

12$ for 1 transaction is a big fee to kill BTC

It's the same problem I guess and it's definitely unfair considering how much I'm sending and the crazy expensive the transaction fee is. I'm better of sending money using fiat instead. I don't really want to use bitcoins to transfer money if it is really cheap.

(Note that fees are denominated in BTC, not fiat.)  I am regularly making transactions for between the equivalent of 2¢ and 20¢—that’s right, $0.02 to $0.20, depending on how heavily loaded the network is.  Worst case recently was the equivalent of about a dollar.  How the hell are you spending the equivalent of USD $12 for 1 tx?  Are you using some stupid exchange?  Are you not using Segwit?  Even that would not explain it.  For a typical transaction by an individual, you are overpaying by at least tenfold!

Or are you just spreading FUD against Bitcoin due to some other agenda?



...and you?


So, go ahead:  Use fiat.  Paypal sounds about right for you.

Also, I suggest that you should try reading.  How does all this complaining about fees appear in this stupid thread directly after I posted a notice that fees are low right now (https://bitcointalk.org/index.php?topic=2579216.msg31994967#msg31994967) and you can make them lower by using Segwit addresses: