$0.85 transaction fee is absolutely ridiculous!

[strugmo]

I've had three transactions stuck in purgatory for days.  On several recent occasions when the price was surging or testing a new high, this has happened to me. My  normal, small transactions get stuck. When the fervor dies a little, the fees usually drop again and the smaller transactions with smaller fees go through.

I have always liked the sort of egalitarian nature of Bitcoin.  Anyone could visit faucets and such and build up some satoshi and get started.  A sort of level playing field.  But this fee issue, if unchanged, will end that.  There have always been two kinds of people using Bitcoin... those who count satoshi, and those who don't.  If the fees keep going up, Bitcoin will be left for the latter.

[GetClams.com]

I've had three transactions stuck in purgatory for days.  On several recent occasions when the price was surging or testing a new high, this has happened to me. My  normal, small transactions get stuck. When the fervor dies a little, the fees usually drop again and the smaller transactions with smaller fees go through.

I have always liked the sort of egalitarian nature of Bitcoin.  Anyone could visit faucets and such and build up some satoshi and get started.  A sort of level playing field.  But this fee issue, if unchanged, will end that.  There have always been two kinds of people using Bitcoin... those who count satoshi, and those who don't.  If the fees keep going up, Bitcoin will be left for the latter.

The question is how high will fees go before the negatively impact the market? How how long will it take to fix it. I think we are at the tipping point.

[dave3]

I used to have problems getting my transactions confirmed.  Somebody suggested this website to me that's been a big help.

https://bitcoinfees.21.co/

Since then, I usually check that website first to see what sort of transaction fee I need to include.  I usually don't mind if it takes a few hours to confirm, so I can get by with something a little lower.  But when it's 5+ or 10+ hours, I start getting nervous.

I just did two transactions tonight, and paid a 0.0005 fee (about $0.90), and had it confirm within an hour or so, despite 200K unconfirmed transactions.

It sucks, but that's just the way it is right now.  At this point in time, bitcoin isn't for small transactions.  There have been some small things that I've paid for with paypal that I would have normally used bitcoin for, because the transaction fee isn't worth it.

If bitcoin doesn't want the small transactions, something else will probably take its place (for the small transactions).  But for larger stuff, and store of value, of course bitcoin is still king.  It's the gold of cryptocurrencies.

[Mike Mayor]

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.

Yes I noticed that too. For so long the fees have been the same so it's been built into most app wallets like indiesquare and has low medium high priority. Now we must use custom options. Even in high it's not that high so they need to change this though I'm sure it will be taken out and not used anymore since the fees are changing too often a custom option seems the best bet over all.

[ralle14]

Can somone explain to me how to estimate how much bytes is one trasaction? Is there like average atm? Or bytes variate a lot?
https://bitcoinfees.21.co/
What fee are you using most of the time?

It depends on how many inputs will be used. Back then it's easy to see how many inputs will be used in your transaction by clicking the review on the legacy wallet of blockchain but now you can't because the new one doesn't let you. As of now i'm always using a fixed fee of 0.0004 for a 250 byte transaction but seems like it's still not enough because my transaction is still stuck after a day. Thinking of increasing my fees on my next transactoins.

[CoinTasker]

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

haha Touché. P.S. I'm diggin' the SN

[Bitcoinpro]

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?

$1 in fiat dosnt sound that bad $1 in Bitcoin does tell me how

how that works 

[CoinTasker]

I used to have problems getting my transactions confirmed.  Somebody suggested this website to me that's been a big help.

https://bitcoinfees.21.co/

Awesome! A very much needed tool in these ever so dark times. Thanks for sharing...I'll be using this!

[Bitcoinpro]

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.

No one ever used to back me up when i called for lower fees

No one used to back me up for anything  

Times have changed everyone wants lower

fees now aye!

[CoinTasker]

$1 in fiat dosnt sound that bad $1 in Bitcoin does tell me how

how that works 

[btcforall777]

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.

No one ever used to back me up when i called for lower fees

No one used to back me up for anything  

Times have changed everyone wants lower

fees now aye!

It wont take $100 fees for devs to change or the market to react. It wont take $50. If they double we will be up the proverbial creek.

[Casy]

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?

The bitcoin network is just having a lot of pending transactions at the moment. It's annoying for anyone, but it's always an up and down. Let's hope that this load will reduce again.

[iluvpie60]

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.

No one ever used to back me up when i called for lower fees

No one used to back me up for anything  

Times have changed everyone wants lower

fees now aye!

It wont take $100 fees for devs to change or the market to react. It wont take $50. If they double we will be up the proverbial creek.

If we see 2 dollar fees nobody is going to buy anything less than 50 dollars for most part with btc. That is where you will lose normal people. Why the hecknwould a normie want to pay a fee to get into bitcoin from fiat then also pay a fee when buying. To any average person that is insane. Poor people in other countries basically cant use btc right now either. 1 dollar fee in usd over there is like their whole day of work.

Btc is going to lose a lot of the normal people it used to benefit. No reason for me to sell something in btc right now and make someone else pay a dollar fee. Better off using something else and converting into fiat right away. Much cheaper.

[Yakamoto]

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?

The bitcoin network is just having a lot of pending transactions at the moment. It's annoying for anyone, but it's always an up and down. Let's hope that this load will reduce again.

It will likely take a fairly long while for the load on the blockchain to reduce again since we had the spam attack, now everyone is sending their transactions back and forth, and if I saw correctly there's now 200k transactions that are unconfirmed right now.

It might take a long time, and I mean a very long time, for some of those transactions to get confirmed. I don't think they'll be gone anytime soon.

[Colt22]

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.

That is good idea I am also searching for a wallet where I will put the number to pay a fix transaction fees. I will keep the fees at average as I do not want to wait for longer. But for those who pay too lower fees I will say that your transaction will be very slow and you will wait for hours for the confirmation of that.

[Palodar]

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.

That is good idea I am also searching for a wallet where I will put the number to pay a fix transaction fees. I will keep the fees at average as I do not want to wait for longer. But for those who pay too lower fees I will say that your transaction will be very slow and you will wait for hours for the confirmation of that.

I will try to look for alike wallet, as much as possible now I don't do transaction due to increase in fees and I just want to save my btc now for more increase of btc in future,unfortunately increase in btc amount will always have the increase in fees there were like tandem.

[emezh10]

Fees are really ridiculous in this days but the bitcoin price is also going up they would really do that the most annoying is the transactions speed i almost take 4days and still not confirmed in the blockchain i guess it is amost broken and your transaction will be stack there forever hopefully they do some upgrade in the blockchain.

[dtrumpfan]

the fees are actually over $13 per transaction when you include the block reward!  This averages out to only 0.5% of the total transaction volume which is pretty cheap for proven security.  

small transactions are somewhat subsidizing larger ones because of the tx fees.. which i think is obviously terrible for the currency.

[Jalum]

Although I do agree that people should not spend a bunch of money just so they could send a small transaction and have it confirm in less than 24 hours, the people that spend a large amount of money on a transaction like that should know that they don't have to spend over $0.30 on a transaction.

[GreenBits]

the fees are actually over $13 per transaction when you include the block reward!  This averages out to only 0.5% of the total transaction volume which is pretty cheap for proven security.  

small transactions are somewhat subsidizing larger ones because of the tx fees.. which i think is obviously terrible for the currency.

The fees seemingly need to be pegged to a USD amount, or at least the protocol should be aware of the value of USD, respective bitcoin. I say this not to extol the supremacy of the dollar, but to peg the fees to a reasonable marker. USD is ubiquitous and already somewhat of a global standard. I love bitcoin going to the moon, but it sucks that the fees had to come along too