Bitcoin high fees

[SaShiRaJaVu]

@capn and @hardiksoni966 ^^^ I doubt you made any transactions recently, if so you will not be having these doubts , in which wallet you gave $24 and $31 as transaction fees and why would do give them when the fees is 3 sat/vB and you will get a confirmation within an hour and i am making transactions for a month with low fees and it is getting confirmed within no time.

[Vishnu.Reang]

@capn and @hardiksoni966 ^^^ I doubt you made any transactions recently, if so you will not be having these doubts , in which wallet you gave $24 and $31 as transaction fees and why would do give them when the fees is 3 sat/vB and you will get a confirmation within an hour and i am making transactions for a month with low fees and it is getting confirmed within no time.

I agree. For the last 1-2 months, we never had a scenario where the Bitcoin fee went higher than 80 Sat/Byte. The average fee was in the range of 4 to 20 Sat Byte, which corresponds to $0.50-$2.00 for a medium sized transaction. The fee they have mentioned is 10x this amount. Either their coins consisted of a large number of small outputs (which pushes up the size of the transaction in KBs, or they had used a wallet which wrongly calculated the fee). Unless the details are provided, it is almost impossible to find out the reason.

Or have they incorrectly typed $ instead of Sat?

[aquafinewater]

Yes Btc have high fee charges but it's depended on exchange because every exchange have own rule Anyway if I see overall btc have high that's why is this not best for transportation

[Questat]

Yes Btc have high fee charges but it's depended on exchange because every exchange have own rule Anyway if I see overall btc have high that's why is this not best for transportation

Don't use exchange if you don't want a high fee, actually the network fees in the past few weeks are very cheap, I enjoyed making transactions from my wallet to any platform address because the fees are really cheap.

as we can see now. https://mempool.space/.. you can pay 1 sat only for low, medium, and high priority transactions.

[imstillthebest]

when the fees are high chances are the value of btc is also high and if your itchy to sell because you have waited for this moment you will probably rush because others are also doing the same and price might drop again too soon .
they can be hodlers too that wants to buy a tesla because tesla announce before that they will accept btc and imagine if they didnt hurry that time they cant experience that again because tesla remove btc in their supported payment methods .

[lepbagong]

when the fees are high chances are the value of btc is also high and if your itchy to sell because you have waited for this moment you will probably rush because others are also doing the same and price might drop again too soon .
they can be hodlers too that wants to buy a tesla because tesla announce before that they will accept btc and imagine if they didnt hurry that time they cant experience that again because tesla remove btc in their supported payment methods .

it is true, because the costs are so high due to the obvious demand that wants to be done faster at the same time without looking at the situation, so that they no longer see whether traffic is high or not. or it's true what you said that because people who want to buy tesla and are afraid of tesla to remove payments with bitcoin so they are in a hurry to take advantage of that opportunity. I myself can't conclude that it really happened like this because Tesla or @elonmusk didn't tweet.

[AicecreaME]

Who is paying for high fees and why are they doing this? I am quite certain this is not holders hurrying to buy a Tesla with bitcoins hehe. This might be transactions from exchanges or going to exchanges, however, why the hurry?

Transaction fees exist simply to process the fund requests such as deposits and withdrawal as soon as possible. The higher the transaction fee, the quicker the processing time for the requested fund. Those people who opt to pay higher fees just want convenience on their end. It would surely cost them a little over the minimum price, but their transaction is assured to be processed and reflected in less than 24-hours. A higher transaction fee is also a way to secure that your transaction will be processed. Transactions that have too low gas fees have a higher tendency to be halted midway. It would just cost you trouble such as wasted time and of course, money because you have to pay another gas fee once your transaction has failed.

Although if you are really looking for ways to have minimal transaction fees, you can search this forum and ask the users. You can also do your own research and do it yourself to experience the pros and cons first-hand. Just always take the advice with a grain of salt because everything has its two sides.