Why the transaction price of bitcoin so high?

[sanforized]

I do not know exactly how bitcoin transactions are. but it seems that the cost compared to the last few years is increasing. maybe this is one of the strategies for the miners to get a little profit, and maybe this is like the business done. This I ever get in some countries if you want to send between countries are charged administrative costs. 

[ir.yance]

Why the transaction price of bitcoin so high? I honestly do not understand the reasons for such prices. All say that this is a fee to miners, but how much time need to a regular PC made all the necessary calculations, and their equipment is much faster. Can somebody explain why the transaction price is high, but if you take part in mining the minimal income?

because these bitcoin transactions are in great demand by everyone, and so the bitcoin transactions are experiencing high achievements

[Rinaze]

Isn't the transaction fees supposed to be better now if you are using a wallet that actually supports Segwit? Else we probably might have to wait for LN to be implemented but that won't be anytime soon now.

[Kiweikoo]

Isn't the transaction fees supposed to be better now if you are using a wallet that actually supports Segwit? Else we probably might have to wait for LN to be implemented but that won't be anytime soon now.

I have also heard no issue related to the transaction fees lately. I thought and actually heard that things had gone better and Segwit was supposed to tackle with all such problems.

Still, if someone is facing a lot of difficulty, it would be only in micro payments and he just needs to wait till November, Much better if he changes his wallet and exchanging site.

[BitcoinUKmedia]

I have to say that the fees are comparatively low at the moment (though still more that one wants to pay)  remember when they went to $3-5 recently and that was for $200 transactions! Now they are back to $1 or so - it's not great if Bitcoin is to be a global payments system. Transaction fees have to be kept low - otherwise it starts to become much more for a store of value.

[Fria]

When the value is actually very high then the transaction would be high also. You can calculate that each transaction will be 2% of the ag mount your going to spend or exchange. $6k per coin will be $60. 2% isn't that big deal however if the fee is fixed whatever the amount is, that's lower than a hundred dollars would be painful.

[meanwords]

It depends actually. If you are using an online wallet then they would recommend a fee that will make their transaction faster but ofcourse at a higher price. But if you are using a desktop wallet then it depends on you if you are going to pay for a high fee or a lower fee so I recommend that you use a desktop wallet because you hold your own safely.

[btcprospecter]

Am I right in thinking that as the price of bitcoin rises the transaction fee rises with it proportionally?

[Akash1243]

I think that transactions fees depends on which site or wallet you are using and also how fast do you want to confirm that transaction.But i don't think that transaction fees are high at all, it might be high if you do many  micro transactions but in large transactions transactions fees are negligible this is one of the reasons why bitcoins had became famous as it can send large amount to anyone in word with low fees.And as the transactions are increasing miners has to give the priority to high fees transactions as they too want to earn profit.

[giantrobot]

Why the transaction price of bitcoin so high? I honestly do not understand the reasons for such prices. All say that this is a fee to miners, but how much time need to a regular PC made all the necessary calculations, and their equipment is much faster. Can somebody explain why the transaction price is high, but if you take part in mining the minimal income?

Because of the increased demand for bitcoin. At present, bitcoin is in the process of strong development, there are many countries accept bitcoin, from which the number of users increased significantly, the demand increased to increase the value of bitcoin.

[NavI_027]

Now I know! So the high transaction fees also depend on the chosen wallet. Unluckily I chose a "horrible" wallet for my bitcoins and I think I don't have any choice (changing the bitcoin wallet I am using is not an option because I guess this is the only wallet supported by our country, others are all foreign) but to accept the fact that it has very high fees.

My bad experience to this wallet is when I'm sending .0002 btc then I was shocked when it states that the total payment is .0004+ . It means that .0002+ is my fee. OMG!

[dongosquad]

simple, bitcoin miners also cost a lot to get bitcoin. so naturally if the fee so high, such as symbiotic mutualism, we also help miners. In addition, the amount of the fee depends on the market.

[shoreno]

I do not know exactly how bitcoin transactions are. but it seems that the cost compared to the last few years is increasing. maybe this is one of the strategies for the miners to get a little profit, and maybe this is like the business done. This I ever get in some countries if you want to send between countries are charged administrative costs.  

the cost of transaction fees is depends on the value of bitcoin , so if the value is high that means the transaction fees will also be expensive and if the bitcoins value is dropping then the fees are also low ( vice versa) and its not really a strategy of miners to get a little profit on your transactions, also this does not depends on the country you are living because the charge is always depends on the current value of bitcoins.

[vandvl]

ithink it depend what your paying for..the higher you pay the lessthan your transaction fee isn't?  i observe that when i send btc if i send small amount the fee is so high when i send big amount the fee is cheap..by the way ihad few transaction correct me if im wrong...

[CryptoLD]

With a very objective view, everybody wants to enjoy the pump before the fork.
Should be much more calm and lower price by the end of november.

[Xenrise]

I think that this one is dependent on the exchange you're using or the wallet you are using. It depends on how much they asks. Some wallets asking fees with small amount and some asks for high.

[jekjekman]

ithink it depend what your paying for..the higher you pay the lessthan your transaction fee isn't?  i observe that when i send btc if i send small amount the fee is so high when i send big amount the fee is cheap..by the way ihad few transaction correct me if im wrong...

I believe transaction fees varies from time to time depending on the volume of
the transactions needed to be solved at a given time. Before the fork transaction
fees went high because of the high volume of the transactions.

Supply and demand also affects the increase in transaction fees.

[Kemarit]

ithink it depend what your paying for..the higher you pay the lessthan your transaction fee isn't?  i observe that when i send btc if i send small amount the fee is so high when i send big amount the fee is cheap..by the way ihad few transaction correct me if im wrong...

I believe transaction fees varies from time to time depending on the volume of
the transactions needed to be solved at a given time. Before the fork transaction
fees went high because of the high volume of the transactions.

Supply and demand also affects the increase in transaction fees.

Exactly. And remember when the network was very clogged prior to the first Segwit implementation? The fee that time was so high because someone keeps attacking the network and spamming the hell out of the mempool causing the fees to go high. But for me its now very cheap and its very seldom that the network is clogged because the spammer had stop already. So choose a wallet that make you adjust the transaction fees like Electrum so that you can set in up with the correct amount you want to used with your transactions.

[Sebas.tian]

Transactions fees aren't high, it's just that there's a high chance that you have used a bad bitcoin wallet. Also fess are pretty reasonable compared to the hassle of sending fiat overseas.

[kenkoy]

I think some users have misconception about transaction fees. In bitcoin, the miners fee of transferring 5$ is the same with the fees of 5,000usd. It is not the amount of money you send with dictates the transaction fess, but rather the amount of data in a block your transaction is taking up. One factor is that some are claiming that after the fork last august, there will be speed of transactions. However, this will on affect to segwit addresses, an address that supports that segwit. Though, there are only few created and there has been none created today.

Here is the article: http://bitcoinist.com/bitcoin-fees-work-segwit-high/