Blockchain transaction fee just got doubled

[graphicx]

Maybe they decided they want to make some more money off of this and put up this fee

maybe because they lost quite a lot few months ago when their servers were down and they were maintaining

[ranochigo]

Maybe they decided they want to make some more money off of this and put up this fee

Assuming OP is talking about Blockchain.info, they do not take any cut off the TX fee.
The main reason for this increase is due to the transaction volume right now: [1]. Block halving is likely to have next to no effect on transaction fees. Miners would still be including TXes that have lower fees to maximize revenue and not the other way round.


[1] Shorena's node.

[Kprawn]

Many new users get there first bitcoins in microtransactions from faucets and such and a big point of this is so they can send some BTC around and get a feel for how it works.

This is quite detrimental to this, these newcomers are going to see high % fees on there transactions like this and be turned off to the whole BTC environment due to this. I really think all this transactions fees raising stuff is going to hurt new user adoption, there must be a better way..

They should switch over to faucets supported by Xapo and they will have "zero" fees. They should not collect a lot of "dust" directly from faucets via the Blockchain in any way,

because these "dust" transactions gets absorbed by the higher fees. The Xapo supported faucets accumulate NO dust, because it's done "off-chain" and once enough is collected

via Xapo, it can be moved "on-chain" onto the Blockchain.  

[Amph]

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

[ranochigo]

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

It depends on the transaction size. Large transaction size would require a higher fee. Large amount does not equate to the need of an increased fee. You can even send some without fee. 1k satoshi wouldn't really work with the current volume and most nodes have their minimum relay fee set to 0.00005BTC/kb and it won't proporgate well.

[Amph]

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

It depends on the transaction size. Large transaction size would require a higher fee. Large amount does not equate to the need of an increased fee. You can even send some without fee. 1k satoshi wouldn't really work with the current volume and most nodes have their minimum relay fee set to 0.00005BTC/kb and it won't proporgate well.

i'm actually using 1k satoshi since many days already, i've just sent some small transaction(0.01-0.05) using this kind of fee, and all went good no big delay

[helloeverybody]

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

Any idea what myceliums different fees are? i use default which i assumed was 10k but it doesnt actually say.

[ranochigo]

don't use the default fee i can play with 1k fee for small amount up to 0.15, then you need probably 10k

Any idea what myceliums different fees are? i use default which i assumed was 10k but it doesnt actually say.

Mycelium has a variable fee which is adjusted using the data from the mempool. It has low priority, economic, normal, priority. The higher you go, the more fees you have to pay. The amount of fees will only show when the amount is specified. Only then will the client be able to know how big your transaction would be.

Edit: I usually use normal and it confirms fine.

*Note: Mycelium or any other application are usually unable to accurately give the transaction fee to use since miners can specify which transactions to include or exclude.

[erikalui]

I just sent BTC from my Blockchain wallet and the fee is 0.0001 BTC as before. How were others charged 0.0002? I received transactions also and the fee was the same as before. You can adjust the fee also I guess in Blockchain else Xapo is the best.

[coinzat]

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

[Mikestang]

It's not just blockchain, I use bitcoin core for my wallet and fees have gone up dramatically with each new version.  I send the same amount to my investment account periodically and the tx fee for that has increased 10x since earlier this year.  This biggest jump came from the "stress test"/low tx fee spam attack a while back.

[tn211]

Blockchain is a free site with so much spend on security usability etc. How can such a transaction fee not be fair?
Did you know much exchanges charge double transactions fees?

[roadbits]

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

Off-course miners also want to utilize these demand increase for bitcoins so pay more fee than your transaction confirms faster. But still some people are saying that transactions done with old fee without any delay in there transaction. I use XAPO for my daily transactions so I don't this is an issue for me because there no transaction fee in XAPO online wallet. I just keep less than 1BTC in XAPO account for my regular transaction and rest of them in other wallets.

[teddy5145]

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

Well that sucks
But i think when our transactions isn't that important we can just use as little fee as possible an wait patiently for it to arrive

[lumeire]

Some days ago, I read on r/bitcoin subredit that the paid fees per block are increasing rapidly.
As the block size is limited and the transactions number is increasing too
So if you want you're transaction to be confirmed by the miners you have to pay.

Well that sucks
But i think when our transactions isn't that important we can just use as little fee as possible an wait patiently for it to arrive

Unless we're dealing with micro-transactions I don't see anything wrong with having to double the fees to speed up the sending. Although, the network should deal with this transactions/second issue asap. 

[worhiper_-_]

Welp, that's what happens when the blockchain gets stressed with many transactions per second. Sadly bitcoin can not handle large volumes of transactions but what we're seeing now is the fee market in action handling that issue effectively. It times of stress spammers are charged more and more as they push things.

[ThunderThomas]

Welp, that's what happens when the blockchain gets stressed with many transactions per second. Sadly bitcoin can not handle large volumes of transactions but what we're seeing now is the fee market in action handling that issue effectively. It times of stress spammers are charged more and more as they push things.

An incraese is never good, but if we can hold of spammers this, then sure no problem with an extra fee. Remember it's just 4 cent extra.
That's nothing compared to the fact we hold of spammers or a bigger part of spam transactions.

[redsn0w]

Right now, the estimate fee :


 - 0.00044332 BTC   1 block
 - 0.00022647 BTC   2 blocks
 - 0.00012528 BTC   6 blocks
 - 0.00010451 BTC   12 blocks
 - 0.00007068 BTC   25 blocks

[gentlemand]

I'm usually pretty stingy with my Mycelium fees but I'm never in any hurry anyway. I've never had any type of delay. I guess the blockchain likes me.

[elite3000]

Just go to 'personalized' and do the transaction and use the old 0.0001 fee/kb. Your transactions won't be delayed