$0.85 transaction fee is absolutely ridiculous!

[celested]

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?

It's ridiculous, now we're dealing with extremely high fees for every transaction, especially, for deals from web wallets, they default to us for a fee of 0.001 btc ( Almost $ 2.5). This is a really terrible charge.

[vohoanghiep5555]

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?

What you said is absolutely wrong. The $ 0.85 transaction fee is not large and is perfectly reasonable. Nothing is free while you also make money from Bitcoin so why are you asking for free? You should learn to accept, let go to get back

[YIz]

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?

What you said is absolutely wrong. The $ 0.85 transaction fee is not large and is perfectly reasonable. Nothing is free while you also make money from Bitcoin so why are you asking for free? You should learn to accept, let go to get back

Bitcoin shouldn't be a "money making" machine. people don't want this sort of volatile currencies when holding large amount of money, especially if they hold amounts they cannot afford to lose. when bitcoin becomes less volatile, mainstream people will start to consider it as an option.

[Alicia Keys]

Now is more expensive because of bitcoin's rise, I worry about less ppl will use ETH instead. It is crazy to pay so much as fee.

[stompix]

A fixed fee would be best and perhaps an express fee if it needs to be done fast.

A fixed fee would be a disaster.
A fixed fee on what , I suppose you don;t want on tx because that would bring a wave a spam but a fix fee on kb?

And how do we prioritize transactions.. based on the timestamp?
That would mean somebody with 2000$ to burn might might stop the whole world from transacting for 1h just for the fun of it and there would be no way to avoid it.

Fixed fees or % fees are just stupid.
Let the free market decide.

[Blamsud]

A fixed fee would be best and perhaps an express fee if it needs to be done fast.

A fixed fee would be a disaster.
A fixed fee on what , I suppose you don;t want on tx because that would bring a wave a spam but a fix fee on kb?

And how do we prioritize transactions.. based on the timestamp?
That would mean somebody with 2000$ to burn might might stop the whole world from transacting for 1h just for the fun of it and there would be no way to avoid it.

Fixed fees or % fees are just stupid.
Let the free market decide.

It's difficult to have fixed fee when we all knew that alt and btc were not stable so fees will just depend on their value.

[qiwoman2]

I have paid well over 5 USD in fees just to get bits of Bitcoin out on time. It is expensive so now I don't just send out small bits anymore. I have to have at least 0.1 btc in my pot before I decide to send it out anywhere.

[Dabs]

I saw an ETH transaction with a $6000 fee. But then it was for $3 million.

[richardsNY]

I notice that with the current version of Core (0.14.1) there is no 1 block estimate anymore. The lowest estimate (fastest) is 2 blocks. If you look at the numbers closely, bitcoinfees.21.co is just slightly higher than what you have on your Core client. Depending on the transaction sometimes I use whatever value is displayed there and add a satoshi to the total, or a satoshi to the fee per byte. The tx will get included quickly either way.

As far as I can remember, Core has always given me a 2 block estimation. On one of my machines I still have v0.12.1 installed (have been too lazy to update -- will do right now), and here it also just gives you a 2 block estimation. What Core client did you use that gave you 1 block estimations?

[Shenzou]

The fees are totaly insane, i have an Xapo wallet i wanted to send 10$ worth of bitcoin and the standerd fees were about 5$, is thnis really what bitcoin has come to these days are we going have to pay 50% of the transaction as fee for miners, in this case using bitcoin will have no point we will be better off using PayPal or other payment methods that has fixed fees

[bitcoindusts]

The fees are totaly insane, i have an Xapo wallet i wanted to send 10$ worth of bitcoin and the standerd fees were about 5$, is thnis really what bitcoin has come to these days are we going have to pay 50% of the transaction as fee for miners, in this case using bitcoin will have no point we will be better off using PayPal or other payment methods that has fixed fees

We just have to accept the fact that we have to pay higher fee now until this problem is patched.  If we do not follow the transaction fee rule, we will be the one getting much more damage since we have to wait for the whole day or more

[dragonusa9]

The fees are totaly insane, i have an Xapo wallet i wanted to send 10$ worth of bitcoin and the standerd fees were about 5$, is thnis really what bitcoin has come to these days are we going have to pay 50% of the transaction as fee for miners, in this case using bitcoin will have no point we will be better off using PayPal or other payment methods that has fixed fees

they have their own policy to make your transaction fast to prove their service, like 1~2 hours and done.
but i doubt that you still want to use their service. because im also using Xapo in the past and move before the system updated
i suggest you to move into manual fee set to survive on this price rate

[zonik]

Now is more expensive because of bitcoin's rise, I worry about less ppl will use ETH instead. It is crazy to pay so much as fee.

Eth was not meant to make payments the way bitcoin was.

[TryNinja]

Eth was not meant to make payments the way bitcoin was.

https://medium.com/@edmundedgar/why-ethereum-is-great-for-payments-ee80c5cb912a
"Ethereum is a great technology for sending people money on the internet. Maybe it wasn’t supposed to be, but it is."

[jekjekman]

The fees are totaly insane, i have an Xapo wallet i wanted to send 10$ worth of bitcoin and the standerd fees were about 5$, is thnis really what bitcoin has come to these days are we going have to pay 50% of the transaction as fee for miners, in this case using bitcoin will have no point we will be better off using PayPal or other payment methods that has fixed fees

Because you have a big bytes in your transactions output that is why you pay $5 worth of bitcoin, the more output of your tx the big bytes will you be getting, I guess you got it from a faucet or many other different small payments.

[Zaun]

Now is more expensive because of bitcoin's rise, I worry about less ppl will use ETH instead. It is crazy to pay so much as fee.

Eth was not meant to make payments the way bitcoin was.

Well it's not because bitcoin's rise. I am sure 100% of the users would accept bitcoin's inflation rate as increase. The problem is that the mempool is too large and miners choose higher fees transactions which makes it a battle of who can afford the most to pay.. which is wrong if you ask me. Bye bye micropayments.

[Pearls Before Swine]

As of this moment, I'd be happy to pay just $0.85 to send bitcoin.  Just last week my wallet was asking for around $5 to send about $175 worth of bitcoin, and that's just crazy.  I think that from the time this thread got started, the fees have skyrocketed because the price of bitcoin has skyrocketed.  Wish I could have bought what I needed to with Dash or something similar.  Those fees are pretty reasonable.

[jekjekman]

As of this moment, I'd be happy to pay just $0.85 to send bitcoin.  Just last week my wallet was asking for around $5 to send about $175 worth of bitcoin, and that's just crazy.  I think that from the time this thread got started, the fees have skyrocketed because the price of bitcoin has skyrocketed.  Wish I could have bought what I needed to with Dash or something similar.  Those fees are pretty reasonable.

As My experienced, I sent a $8 worth of bitcoin with a $1.75 transaction fees and I just completed the sending earlier this day, I sent it may 20 though.  So hard to understand what is happening right now but I got so much output in my payment that is why I have a big tx fees but the waiting time take me 2 weeks to be done, so fraustrating.

[Dabs]

I notice that with the current version of Core (0.14.1) there is no 1 block estimate anymore. The lowest estimate (fastest) is 2 blocks. If you look at the numbers closely, bitcoinfees.21.co is just slightly higher than what you have on your Core client. Depending on the transaction sometimes I use whatever value is displayed there and add a satoshi to the total, or a satoshi to the fee per byte. The tx will get included quickly either way.

As far as I can remember, Core has always given me a 2 block estimation. On one of my machines I still have v0.12.1 installed (have been too lazy to update -- will do right now), and here it also just gives you a 2 block estimation. What Core client did you use that gave you 1 block estimations?

I don't remember, but I would regularly go to the console window and type estimatefee. Perhaps it was a much older version.

I've stopped looking at that and just use bitcoinfees... https://bitcoinfees.21.co/api/v1/fees/recommended and keep that window open. Before doing any transaction, I refresh that page.

[Raja_MBZ]

Eth was not meant to make payments the way bitcoin was.

https://medium.com/@edmundedgar/why-ethereum-is-great-for-payments-ee80c5cb912a
"Ethereum is a great technology for sending people money on the internet. Maybe it wasn’t supposed to be, but it is."

Ethereum seems pretty good to me now as well, I now switch my profit of Polo & Bittrex wallets through Ethereum, instead of bitcoin. Super-fast & very cheap.

To me, now it seems like ETH can be a good alternate to bitcoin in payment processing as well.