$0.85 transaction fee is absolutely ridiculous!

[1Referee]

If this way only the bitcoin goes then very soon bitcoin will be used as for long term investment and for daily and small transaction they will search for another coin.

No big deal. If people so badly want to have fast confirmations combined with lower fees, then they should head over to one of the hundreds of altcoins available. If you look at the network usage of altcoins in general, then it has increased slightly, but that's not due to actual usage in terms of transacting and stuff, but more due to the bubble that altcoins are going through. People move coins back and forth from their own wallet to their exchanges.

[1714887760]

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[Winner]

I can't believe anyone still tries to rationalize and defend these high fees. Do we have to wait until it gets to $100 per transaction before people say enough is enough?

Bitcoin should be accessible to everyone but with the current fees its already becoming less and less the case.

It’s better to just try to hold onto your Bitcoins instead of trying to spend them on something that would be multiple times cheaper in the later years. I really don’t spend $100 for Bitcoin transactions and I know that by using Bitcoin the price of it will go up eventually and the people that use it are only going to have to bring in more complaints about the transaction fee since the price of Bitcoin will be more expensive then it is right now.

[Shenzou]

I can't believe anyone still tries to rationalize and defend these high fees. Do we have to wait until it gets to $100 per transaction before people say enough is enough?

Bitcoin should be accessible to everyone but with the current fees its already becoming less and less the case.

It’s better to just try to hold onto your Bitcoins instead of trying to spend them on something that would be multiple times cheaper in the later years. I really don’t spend $100 for Bitcoin transactions and I know that by using Bitcoin the price of it will go up eventually and the people that use it are only going to have to bring in more complaints about the transaction fee since the price of Bitcoin will be more expensive then it is right now.

We all know right now that bitcoin's price is quit high at the moment and this price makes poeple mad about it , means that every day more poeple come to this new currency and that means more transactions, more transactions means more work for miners and to make them pick up your transaction you have to pay high fees,

[Winner]

I can't believe anyone still tries to rationalize and defend these high fees. Do we have to wait until it gets to $100 per transaction before people say enough is enough?

Bitcoin should be accessible to everyone but with the current fees its already becoming less and less the case.

It’s better to just try to hold onto your Bitcoins instead of trying to spend them on something that would be multiple times cheaper in the later years. I really don’t spend $100 for Bitcoin transactions and I know that by using Bitcoin the price of it will go up eventually and the people that use it are only going to have to bring in more complaints about the transaction fee since the price of Bitcoin will be more expensive then it is right now.

We all know right now that bitcoin's price is quit high at the moment and this price makes poeple mad about it , means that every day more poeple come to this new currency and that means more transactions, more transactions means more work for miners and to make them pick up your transaction you have to pay high fees,

Miners are the ones that are banking right now because the transaction fees are really high for fast transactions. I would recommend that people should stay happy about the price of Bitcoin and the transaction fee because I am pretty sure that when faster Internet plus Quantum Computers get released more to the citizens that can kind of afford it then the miners will have a major competition.

If some sort of Government decides on mining Bitcoin then it’s a much different story.

[squatz1]

I can't believe anyone still tries to rationalize and defend these high fees. Do we have to wait until it gets to $100 per transaction before people say enough is enough?

Bitcoin should be accessible to everyone but with the current fees its already becoming less and less the case.

Going to be the standing with you bud, I don't even know how people can come out and say stuff like "Oh well look at all the security we get, YOU SHOULD be forced to pay that anyway" Like don't get me wrong I get it, I understand that the miners are going to want more money due to the block reward going down and that's only fair. But at the rate it's been going up now, I think that's a bit insane and is unreal.

These miners don't need that much money to do something that they'd be doing at a fourth of the current TX fee that they're getting now. I still remember the times that TX's were confirmed faster and I had to pay a low rate of $.15 cents per tx.

It is ridiculous and I miss the old days.

[Despacito]

Oh boy you complain about $0.85 fee but 4 days ago I paid $4 for 0.067 BTC's transfer. How does it sound? It was very very urgent transfer so I needed to give up with $4 sadly. I can't imagine what would it cost for 1 BTC's transfer.

[ppaul15]

thats normal because of the bitcoin price fluctuation. here in my country the fee in every transaction is almost 4dollars and that sucks big time . last march its only 0.5$ fee. but its worth it if your transaction will be completed asap.

[CoinDoublerr]

Am I the only one realizing that ~$1 fee to make a transaction is absolutely insane and defeats one of the core benefits of using bitcoin for daily transactions.

This is getting insane and is completely uncalled for, or am I wrong?

if i use my bitpay wallet its much bigger. And when i receive btc it also takes fees or something

[robert4u]

Another problem is this high fees is big issue specially when receiving payments, when I receive payment I create new wallets and transfer them to main wallet now for small amounts $1 fees can cause $3 total amount as $2, and also when I send all amount it is big size transaction and again high fees.

[btcney]

Another problem is this high fees is big issue specially when receiving payments, when I receive payment I create new wallets and transfer them to main wallet now for small amounts $1 fees can cause $3 total amount as $2, and also when I send all amount it is big size transaction and again high fees.

That's why you shouldn't have so many wallets right now. If you have a lot of wallets and want to transfer in between them without any fees then use the coinbase wallet because all transfers are off chain when it is wallet to wallet. At least don't do it until this high transaction fee thing is over and things return to normal. I know it will mean that you can't hold your own private keys but $3 isnt a big amount anyways.

OP, I'd be lucky if I can find a wallet with $0.85 transaction fees now, lol.

[ecnalubma]

Transaction fee is getting higher and higher as bitcoin price continues to rise. But i think its a fair price and passes through thorough process and decision.

[stompix]

Oh boy you complain about $0.85 fee but 4 days ago I paid $4 for 0.067 BTC's transfer. How does it sound? It was very very urgent transfer so I needed to give up with $4 sadly. I can't imagine what would it cost for 1 BTC's transfer.

It would have cost you exactly 4 dollars.
The same.

Because you don't pay a % of the sum you pay the size of the transaction in bytes used.
So as long as you have 1 output 1 input you are going to pay the same for 20 satoshi or 40 000 btc transferred.
Which in my opinion is pretty fair.

The problem lies with the amount for a kb of space.

[swogerino]

Oh boy you complain about $0.85 fee but 4 days ago I paid $4 for 0.067 BTC's transfer. How does it sound? It was very very urgent transfer so I needed to give up with $4 sadly. I can't imagine what would it cost for 1 BTC's transfer.

It would have cost you exactly 4 dollars.
The same.

Because you don't pay a % of the sum you pay the size of the transaction in bytes used.
So as long as you have 1 output 1 input you are going to pay the same for 20 satoshi or 40 000 btc transferred.
Which in my opinion is pretty fair.

The problem lies with the amount for a kb of space.

So what can I do to lower the fees and to lower the amount of bytes in my transactions. I make some transactions daily so I cannot keep a normal size when I am going to spent from many inputs. Is there any solution to this issue or it is being discussed at least ?

[shine1123]

Oh boy you complain about $0.85 fee but 4 days ago I paid $4 for 0.067 BTC's transfer. How does it sound? It was very very urgent transfer so I needed to give up with $4 sadly. I can't imagine what would it cost for 1 BTC's transfer.

$4 for a fee is quiet big but your confirmation must be fast right. Actually you can costume your fee for your transaction, reduce it into $1-2 is already good though, you only need to wait 1-5 hours maximum. The fee for each transaction also because of the bitcoins price that increase so high and also many unconfirmed transacion out there.

[TryNinja]

$4 for a fee is quiet big but your confirmation must be fast right. Actually you can costume your fee for your transaction, reduce it into $1-2 is already good though, you only need to wait 1-5 hours maximum. The fee for each transaction also because of the bitcoins price that increase so high and also many unconfirmed transacion out there.

You can't say that because you don't know the amount of inputs and outputs his transactions had. At the moment I'm writing this post, if you want your transaction to be confirmed in this short amount of time, you require to pay a fee of 390 satoshis/byte (the cheapest recommended).

I've had transactions with more than 3 inputs and 2 outputs that had ~1200 bytes of size and required me to pay ~0.004 ($10) to get confirmed in 1-5 hours.
And of course I choose to wait a little bit more and my tx was confirmed the next day

[Windpower]

Am I the only one realizing that ~$1 fee to make a transaction is absolutely insane and defeats one of the core benefits of using bitcoin for daily transactions.

This is getting insane and is completely uncalled for, or am I wrong?

I definitely agree with you are and you are completely correct. We shouldn't be having to pay such a high amount for our transactions. At this rate, Bitcoin will never become mainstream and will just be a complete flop.

However, we just have to stick with it and see what happens, selling now would be a dumb idea and you would lose a lot of money.

These kinds of fees will deter a lot of people and we may see the price falling down in the near future, hopefully the problem gets fixed and more people start investing.

[richsoon]

Honestly I was always a bitcoin supporter until the end and always kept at least half of my investment in bitcoin but if the bitcoin community isn't interesting in scaling for cheaper transactions then I will move my remaining funds to ethereum.

I hope I don't have to do that because I believe in satoshi's vision with every fiber of my being.

[Kizaki]

Lol this kind of fees are still low compared to some complainers out there and me  too i am experiencing bigger fees than what you experience,i got about 5$ fees when i sent off $2000 worth of bitcoins to blockchain from my local country wallet

[AtillaL]

So if BTC goes to $10k, $100k or even $1mil it's to be expected that the fees will go way up? To me it feel ok for now to pay the fees we have now but as more new money's pouring in and as we get more transactions, where will that leave the fees, does anyone have an idea?

[nizamcc]

If your transaction was small and still the fee was high, I think Lauda said somewhere that Bitcoin was used to be the best currency for small transactions with lesser fee, it isn't anymore.
As the number is growing drastically, we are definitely going to experience some huge spikes in the calculation of fee too. But taking your point into consideration too, I think that miners should lower down the fee to at least 25% because it is becoming very hard to pay those satoshis and not even getting a complete guarantee of a confirmation as promised by those wallets.