Bitcoin Forum

Hi , I transferred 47$ to coinexchange from coinbase and I got 18$. 30$MINING FEES WHAT KINDA SHIT IS THAT, how is it even possible that's more than 50%. plus I cant message the coinbase support. Please help.

Nothing to do now. I wanted to send 300 to my card and blockchain.info wallet asking 23/27$. Paid 9$ 2 days ago and still didnt get any confirmation.

BTC network sucks balls, jammed up for 2 weeks now. Gonna have to send 100$ to these miner fks soon to be able to confirm anything, lol.

Fees are High Because Transaction Capacity Has Become an Artificially Scarce Resource.

 Hopefully the solution can be found ....

It really sucks but this is what happens when you have some unresolved issues and I hope they can clear this mess up prior to the influx of money coming in next year. It does not bode well for the long term of bitcoin especially if you want to use it as a currency. It won't be the go to for everyday currency which is a shame as that is what I would like it to function as.

Yes,its happening temporarily due to high network congestion as a result of most of people selling their bitcoins at once.It would get solved once lightning network gets activated.

i hear of this lightning network for weeks, seems like big bs, nothing ever improved things just going south fee wise.

I know it sucks, but for as long as this isn't solved, it's incredibly easy to just use any other coin to perform your transactions. Fast and cheap.

Unless you want to buy cryptos with cash AND you happen to live in a country that only has bitcoin exchanges, there's really no reason for you to stress yourself by paying high fees and waiting hours for transactions

Nothing much we could do about it. You could just tune down transaction fee lower than recommended(if there is that option in coinbase, idk because i don't use coinbase) albeit transaction confirmations takes longer. Patience is what we need right now.

If you didn't need it in a hurry, you can do a replaceable fee and put it down to the lowest in the pending transactions pool.  You would still be paying around 5-8 euros though.  Too high for a usable currency imo.  Hate to say it but I think blocksize needs to be increased.

yes, many people complain that bitcoin transaction costs are expensive, but I never think about transaction costs. because I think that's normal. and in accordance with bitcoin prices.
like a valuable item, then the shipping cost will also be expensive

Bitcoin is meant to be transferred from one person to another, when there is another person involved then the transaction fee is going to much higher to spend.

That's really a shit news I have heard. I think you should contact the admins to solve this problem. If not, maybe you should choose the other time to execute the transaction.

Paying a low fee is not wise if sending anything over 2-300. You'll be stuck for days without confirmation, days during which btc value can go down by 3-4k, which you will feel the sting of.

Better pay 30$ in fees and get fast then pay 10$ and lose 80$+ if value drops. You could gain if it rises while u waiting for conf but most are not so lucky.

I feel you, I also want to transfer funds to another wallet but then I notice that the fee is bigger than the amount i would transfer. Luckily I was able to prevent it to happen but then I wasn't able to transfer.

Yeh, same here, i tried to send 0.01 BTC and the fee was 100 USD, that's not make any sense!

Can we avoid that thing? Send bitcoin without use miner service. It is not good, people will lose interest on bitcoin if this is continuing. Is the miner who determine how much fee in transaction or system?

Does it mean that the btc miners  are making sooo big profit right now and the consumers(users) are in deep shit ?

Why the heck would you bother to send that amount of dust?  Did coinbase not indicate the transaction fee it was going to give to the miners on your behalf?  It is because of people like you making these pointless transactions that we are facing this bloated mempool and the ridiculous transaction fees.  Can you make this a learning experience at least, and study what it is you are doing to the blockchain and the mempool?

Two sites for you to learn from (please do not transact BTC until you learn them):

 This shows how much folks can expect to be paying to send 47$ coinexchange (for whatever reason I don't know):
 https://anduck.net/bitcoin/fees/1008_blocks.php   

This shows how long folks can currently expect to wait if they don't pay 29$ to send 18$ to coinexchange:

https://dedi.jochen-hoenicke.de/queue/#1w

I am sorry for your painful lessen, but this is the way it is going to be, until a) the noobs stop clogging the mempool with 47$ transactions b) the blocksize gets expanded c) noobs learn and switch over to LTC, BCH or any other perfectly acceptable substitute.

Guys, can anyone push my transaction? Because of my inexperience I did low fee  :(, now now I need it ASAP
https://blockchain.info/tx/a1ca428c5d5f52afe8f2705a44f4507d0fb18bf79de398a8b2d5599bc2d0cfeb

Yeah, BTC is going through a correction phase right now so people are dumping it a lot so the network is congested as always. Right now recommended fees is 630 sat/byte! I would give it a day or 2 before it comes down to reasonable 100-150 sat/byte.

Yes, it is too crazy. I'm using blockchain and I used priority to send btc,  they charged me 1xx,xxx satoshi($20 dollars). when i changed to regular, they also charged half(8x,xxx satoshi.). But i got something to send, i have to take it. I hope they will low down the fee.

You should've searched how much the transaction fee of BTC before you went and did that. Another thing is that you've transferred a relatively small amount compared to the BTC price. You should've expected that the fees are high since BTC price is so high too. Lastly, you could've chosen another service if you want lower fees.

Yes, just a kind of bitcoin transaction costs of development of the problem. If you often need a deal, it is suggested that you can exchange it for other altcoin transactions first, and some altcoin coins are traded very quickly.

Hey,

How can one "push" a transaction with low fees ???

 Ahh I’m sorry for my inexperience. My 15 yo ass wanted to make some profit from trading 😂 well that’s not a good start lol. Thank you for the info

It's true transaction fee is very high. Some people saying,it's very valuable thing that why they are taking very high transaction fee. But miner also should think about to reduce their percentage. out ultimate goal is global acceptance of bitcoin. High transaction fee is a big hurdle to make it more acceptable.

These problem was already existed when the price of btc become high. I hope there were solution on this problem as many users also hoping on this btc fees to lower down. Yes this is one of the hindrance that bitcoin be accepted globally.

Anyone know, why developers can't increase block size?