$0.85 transaction fee is absolutely ridiculous!

[QuestionAuthority]

I think this is not too ridiculous considering bitcoin is in its all time high value at this moment and continue to rise day by day, you can customize the fees in some desktop wallet like mycelium if you want but expect it may take time to confirm from 1-4 days..

Really?
So you're ready to pay 5$ in fees when you buy a vpn subscription for 8$?
Let's say bitcoin reaches 1 million and every transaction cost 500$.

Are you still going to use bitcoin? I doubt it.

It would probably make more sense to pay for your VPN subscription annually, so you get a discount in both the price and the transaction fee.

If bitcoin reaches 1 million USD, I'm going to buy a yacht. (or a lambo.)

Lamborghini better ramp up production quick. It seems like that's the main thing everyone is going to buy when they finally stop hoarding and sell their bitcoins. LOL

The reality is that Goat is probably the only person that will ever buy a Lamborghini with Bitcoin.

[Dabs]

Bitcoin transactions are instant. It's the confirmation or inclusion in a block that takes time. Once you see a transaction paid to you (or to anyone else), and nothing fishy comes up after 5 to 10 seconds, as long as proper tx fees are paid, you're almost sure of it.

If you receive Bitcoins from a source you don't trust, the statement above is not enough. A transaction with proper fee (but still a bit under the minimum required for near-instant confirmation at that moment) can easily take hours or days to confirm.

By "proper tx fees" I meant the number you can see from a site like https://bitcoinfees.21.co/ or a little bit more. (Or if you are using Electrum or Bitcoin Core, click the slider all the way to the right, or max.)

Even if there is an attempt at a double spend, it might not push through if the transaction has been in the mempool of 90% of the network for longer than 10 seconds. Not to mention that the double spend would have to include a bigger tx fee than the first to increase the chance that that second tx will get accepted into a block, unless you own the miner or pool that mines the next block.

[ZzV1Finn]

Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..

yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.

May be. If they create a more advanced currency with a low payment for the deal, then bitcoin may completely disappear.

[Roger Burton]

I use xapo to cash put my bitcoins, and I notice if you send small amounts to your wallet and then you want to cash out them you will pay a big fee bcs of that. So I send all my money in one address and my fee is much less than before. I hope my experience will help you

[Shofiqul]

I think is ok because the value of bitcoin increase huge.When the value will go down,you will found a lower fee.

[BitFinnese]

Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..

yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.

I guess it is ridiculous if you are sending dust.  But if you are sending thousand of dollars, an 85 cents fee is way too cheap.  Aside from that, the era where you can buy coffee with Bitcoin is over, due to price of Bitcoin had increased so much.  Bitcoin still delivers what it promised but this time not on dust transactions.

[GetClams.com]

Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..

yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.

I think everybody realizes the problem will get handled so while it is an inconvenience now in the big picture its juts a bump on the road.

[SaShiRaJaVu]

I think everybody realizes the problem will get handled so while it is an inconvenience now in the big picture its juts a bump on the road.

If the problem has to be taken care of,either the amount of transaction will be reduced which is not a possibility or either they have to upgrade the network which is not that easy as it sounds as everyone is favoring one thing over the other and so it is difficult to see the upgrade taking place anytime soon and it is getting worse by day as the transaction fees is increasing every day.

[coolcoinz]

I think is ok because the value of bitcoin increase huge.When the value will go down,you will found a lower fee.

I think so too. With 1 Bitcoin being worth 1.5k USD, paying less than $1 to send a transaction is nothing but normal. If you were here back when it was worth less than 1000 usd with a fee of around $0.5 you'd have noticed that fees are growing along with Bitcoin. Sad part is we can expect $2 fees when we start getting close to 3000 per Bitcoin, but that's nothing the users cannot handle.

[virasog]

Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..

yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.

Agreed that it is creating frustration among the bitcoin users as they have to pay more than a dollar fee these days but then no one is looking to leave the bitcoins because of the said reason.  If you can compare  bitcoins with other payment methods, you will find bitcoin is still the cheapest and the quickest method of money transfer that exist now.

[QuestionAuthority]

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What the actual fuck. There are so many ads on this page it's hard to focus on the topic. I think it's something about high transactions fees or possible duck mating calls.

To the guy above me: Bitcoin is nowhere near the cheapest or quickest transfer method around.

[nahtnam]

So in the future when bitcoin is worth a lot more, will the transaction fees drop? I feel like once we run out of bitcoins to mine, there will be higher transaction fees.

[Trayber]

This thread brought to you by NITROGENSPORTS. It's the future of betting.

What the actual fuck. There are so many ads on this page it's hard to focus on the topic. I think it's something about high transactions fees or possible duck mating calls.

To the guy above me: Bitcoin is nowhere near the cheapest or quickest transfer method around.

Hahaha, no shit. I lost track of what the original topic was to. Oh yeah high transaction fees.

Cue in more sig spammers.

[CoinTasker]

Ok, since I'm the OP I'm gonna drop another example of some bullshit. I use mellowads as one of my banner ad providers for some of my sites. I typically wait until my balance reaches .01 BTC (currently $17.57) before I withdraw my balance. So, I had .0105 and some odd change in my account and went to withdraw. I paid a fee to mellowads of 0.00005 BTC ($0.09). I have absolutely no problem with that. So I ended up sending 0.01041323 BTC ($18.30)  to my CoinBase wallet and ended up receiving 0.009375 BTC ($16.47) which means I paid an additional $1.83 on top of my mellow ads fees somewhere along the way. Not only does neither system tell me about these fees explicitly so I know beforehand exactly how much I am going to have to pay, but that is a 10% fee and I don't even know who took it or where it went. Seriously, if people keep saying this isn't a big deal, then you are an idiot. I'm not usually one to call names, but 90% of the people chiming in on this discussion are saying the exact same thing....make large transactions only, it's not a big deal if you are buying a goddamn house, just don't expect to buy a cup of coffee with bitcoin. Oh, you are so insightful, thanks for explaining the difference between paying high fees for small transaction and low fees for higher transaction....I wasn't at all aware of that. The thing is, if you are one of those people that think this is ok, you are missing the fact that most people actually using bitcoin for purposes other than hoarding digital gold are being screwed. The people who are literally creating the bitcoin economy are the ones getting robbed. Keep telling yourself it's all ok, and we should all just be making large transactions and see where that gets us in a year when nobody can come to an agreement on how to resolve this problem and people stop fucking using it. At some point, investors and developers are going to start looking to other coins that don't have this problem. And then what do you think happens? You think Bitcoin is invincible? Well it's not. If this elephant in the room simply doesn't ever get addressed, you hoarders are going to be sorry you didn't care and the next big party is going to fly right by you while you're blinded by your shiny digital gold.

Ok rant over....

[Schuyler]

I think those who are increasing the fees are just trying to push the limits and see how far they can go before everybody gets really mad and decide to act against them forcibly. Even if the number of transactions are growing by the day, so are the unconfirmed ones. Increase in transaction fees are ok but only up to a certain extent where it is still cheaper than most other conventional ways to do transactions.

[DoublerHunter]

I think those who are increasing the fees are just trying to push the limits and see how far they can go before everybody gets really mad and decide to act against them forcibly. Even if the number of transactions are growing by the day, so are the unconfirmed ones. Increase in transaction fees are ok but only up to a certain extent where it is still cheaper than most other conventional ways to do transactions.

Yeah, 0.85 USD transaction fee is very cheap for me because it is not like in the paypal that can cost you more and also if you didn't take that average fee then you will not be able to send or receive bitcoin in a short period of time and it might take you a lot of days before you get the amount. 0.85 USD transaction fee is still the cheapest that i pay for a transaction.

[Dabs]

Well, now you are aware. And plenty of us here are idiots. About 90%.

[Wendigo]

Get a wallet where you can set custom fees of your choosing and you will be alright. The low/average/expedited options won't do the trick, you would need to input your own numbers.

[ozaeri]

Just wait until the fees reach 100$ because the issue keeps getting ignored as users claim its still cheap or its not meant for small transactions.

The reality is bitcoin won't survive without a solution to further scaling so stop saying its not meant for small transactions or that the fee is cheap as if there isn't any problem when there clearly is.

[btcforall777]

Get a wallet where you can set custom fees of your choosing and you will be alright. The low/average/expedited options won't do the trick, you would need to input your own numbers.

When you withdraw from an exchange there is not thing you can do about it. Except wait! This sucks.