Bitcoin transaction cost so high? Why?

[Ayers]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

what was the transaction size? i doubt is really 7 euro and 7 euro is like 350k satoshi at the moment, which is like you are sending a TX of 1300 bytes, if really is true, try to use an accelerator next time

[Script3d]

the transaction fee for bitcoin is not high now 60 satoshis per byte can get confirmed within the next block try to custom transaction fee and set it to 60 - 70 satoshi/byte around 10k+ satoshi

[BitcoinGirl.Club]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

When did you make your order because at the moment fees have extremely dipped and you should be able to enjoy low transaction fees . 7 euros high which is ~0.003344 BTC at the rate of 1BTC=2081 EUR which am finding hard to believe...Unless you were charged extra fees from your online store.

[johnwest]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

When did you make your order because at the moment fees have extremely dipped and you should be able to enjoy low transaction fees . 7 euros high which is ~0.003344 BTC at the rate of 1BTC=2081 EUR which am finding hard to believe...Unless you were charged extra fees from your online store.

You are using an exchange to store and spend your BTC.?
If you use a wallet like mycelium then you wont be even paying half of that fees. Use economy level fees and your transaction will be fast enough.

[northstarh]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

Right, right now, we are all paying a very high premium for all bitcoin transactions, it's becoming a must-have charge. It is like the charge to maintain the current transaction, because bitcoin is having some small chunks, it can not meet the needs of the market.

[kodes88]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

yes i also wondering about this,have been so long not use bitcoin as payment,and when i do,its shocked,the fee was raised,in simple way i just found that bitcoin which transacted with many address will take more cost,it mean the fee will be larger,and also the amount of transaction also influence to fee of transaction,more large transaction take more fees.

[maku]

what was the transaction size? i doubt is really 7 euro and 7 euro is like 350k satoshi at the moment, which is like you are sending a TX of 1300 bytes, if really is true, try to use an accelerator next time

Since Op hasn't shown us his BTC transaction ID and I doubt that there is a company which is accepting bitcoin directly.
So since some kind of bitcoin payment operator is included in this equation, the most likely scenario is that there was some kind additional fee associated with this TX.
Sometimes (way more often than you even think) there are multiple fees associated with sending money online.

[Kprawn]

Bitcoin is the crypto currency of the future and it was created primarily for large purposes, therefore, transactions are correspondingly high, but with the help of this currency one can earn very well.

Wasn't Bitcoin created for micro-transactions and that a transaction should cost only a few cents?

The tx fees has come down to normal levels now, so I do not know what wallet service you used. Some of these services are raping uniformed

users by not adjusting their fees to the current situation. You should give us more information to determine why your fees are that high. Yes,

Bitcoin can manage micro transactions very well under normal circumstances.. but for a while now, people with hidden agendas were spamming

the shit out of the network and this has lead to an increase in fees. SegWit will make these attacks a lot more expensive, so things are looking

much better for the future.  

[Barcode_]

You could actually set your own customize miners fees in your bitcoin wallet when you are sending the transaction to the blockchain network, actually the miners fees have already been reduced a lot for the past few weeks, as the huge number of unconfirmed transaction stuck in blockchain is clearing out well recently.

[ecnalubma]

It is probably because bitcoins high price and congestion in the blockchain. In order to complete your order in the fastest way pay high if its not so priority pay low. Miners are no question that they are one the riches nowadays, lets see what happen after August 1 event if that problem can be addressed hopefully.

[Pfizer]

Without an increase in units this will not solve the problem and I don't care about what they think about the miners. If the transaction cost is reduced to minimum then bitcoin will die. Who's ready to lose all your money to the miners was good?

How can you claim such a thing? 6 months ago, transaction fees were very normal, but the miners were totally happy too. What changed during the time?

[ximply]

Without an increase in units this will not solve the problem and I don't care about what they think about the miners. If the transaction cost is reduced to minimum then bitcoin will die. Who's ready to lose all your money to the miners was good?

How can you claim such a thing? 6 months ago, transaction fees were very normal, but the miners were totally happy too. What changed during the time?

Why would it die if transactions fee is reduced to minimum? High fee mean fewer transactions and lower fee means more transactions and more transactions mean more user are coming and using, and more will come. Do the math and stop being dependent on mining income. Buy your own bitcoin and don't wait for the handouts. Look at the bigger picture and not just self serving act.

[Ewinsane]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

Well this is what you have chosen. You may have gone for the highest transaction fee, it would be much better if you chose a minimum transaction fee and waited for some time to confirm the transaction. Anyway this could be learning for you and believe me learning is earning. I hope you will go for the minimum fees in the future.

[raven7886]

Hello everyone So I was ordering a few items online from a place that accepts Bitcoin, and for an item that costs only 24 Euros, the send cost was 7 Euros! That is too high! Bitcoin transaction fees should be very minimal! Is there any way to resolve this or is this to do with the blocks filling up?

7 euro is too much for a 24 euro transaction and i would like to ask on what wallet you are using? If you are using blockchain then theres an option on where you can able to edit or set up a particular fee. that 7 euro is way too high for a fee and going back on previous months the max fee did i see is between 2-4 usd which is already high, how much more on 7eur. This is one of the reasons why do people switch on alts like ETH less fees less confirmation times which what im doing as of now.

Yup this transaction fee is high almost they are taking 30% of your product price. Now the Bitcoin transaction fee is high I agree, but this is too much I think no one will order this product if they continue this same fee. Let's wait for 3 weeks I believe that this problem will be solved by this month end.

Yeah this is way high man 30% is almost unaffordable for me, though the bitcoin transaction fee is high but this is insane. It seems sort of a scam to me, why will someone pay this much high transaction fee for anything. I am not ready to pay this even after 30 years. I think this could be something charged mistakenly. Otherwise the transaction fee is not this much high.

[RodeoX]

There seems to be some confusion about the fee. The mining fee is used by bitcoin owners to send. It varies with demand, but  since it is competitive it trends toward the lowest profitable fee. If you are using a service to hold your coins you do not actually own any coins and the service can charge whatever they like. Yet another reason to run a node and own your coins.