Transaction fee.

[nidacoinlove]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

[1714690671]

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[1714690671]

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[Emoclaw]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

They were not rumors.
Bitcoin transaction fees have decreased SUBSTANTIALLY after the NYA agreement was formed. This is because miners immediately stopped spamming the network and now Bitcoin is almost as fast as it used to be before the scaling debate.

Segwit has locked in, but it has not activated yet. It will activate once this activation period is over. After that there will be a 2MB blocksize hard fork and consequently a split in November. Can't really say that the Segwit stuff is over.

[phr0stbyt3]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

They were not rumors.
Bitcoin transaction fees have decreased SUBSTANTIALLY after the NYA agreement was formed. This is because miners immediately stopped spamming the network and now Bitcoin is almost as fast as it used to be before the scaling debate.

Segwit has locked in, but it has not activated yet. It will activate once this activation period is over. After that there will be a 2MB blocksize hard fork and consequently a split in November. Can't really say that the Segwit stuff is over.

You can't really say bitcoin network is fast i had wait for 1 hour 40 min to get just 6 confirmations even i expected the speed to increase but as time is progressing i see the speed getting worse about the fees it hasn't really changed much now I'm saving like 0.0002 per transactions which is decent. Fees issue can't be solved much i just hope overtime the speed increases

[elebit]

Segwit will reduce fees, but only after you move your coins to a segwit address (in a segwit capable wallet).

So it will still take some time until we reap the full benefits.

[Adbitco]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

They were not rumors.
Bitcoin transaction fees have decreased SUBSTANTIALLY after the NYA agreement was formed. This is because miners immediately stopped spamming the network and now Bitcoin is almost as fast as it used to be before the scaling debate.

Segwit has locked in, but it has not activated yet. It will activate once this activation period is over. After that there will be a 2MB blocksize hard fork and consequently a split in November. Can't really say that the Segwit stuff is over.

Yes the fees has decreased substantially but still the transactions taking too long to get confirmed one of my transactions took more than 2 hours to get confirmed but I hope that transactions too get confirmed quicker than now in the days to come.

[Fantum]

2 hours to get confirmed is way better now than a couple months ago when it was taking sometimes 2 days. The fees are good now, some people reported paying 1 sat per byte. Actually saw an article saying the fees will increase after segwit. I don't understand why these fees are a problem, the miners need to make something in order to keep the network running. The fees will decrease over time, like 20 years. But spending 25 cents to send is cheap I think. Before when it was over 50k sats to send that was bad. What if bitcoin is worth $10000 and it costs 50k sats to send, just too expensive no one will use bitcoin.

[maeusi]

I have sent today and these days a few transactions and yes, the fees decreased and Bitcoin transaction was very fast. But a few times the fees suddenly went dramaticly up, so that I desided to wait a few minutes. After a short while the fees indeed went down. I could also adjust the fees to a price, I want, but feared, that Bitcoin gets awful delay.

[-ck]

After segwit locks in, fees won't automatically decrease until people start using segwit addresses for their transactions which take up less block space. Using up block space is what determines how high fees are. Since the core wallet won't be generating segwit transactions by default it means it will actually take some time before we start seeing a lot of segwit addresses in use. I suspect initially it will be larger exchanges that do a lot of transactions that have upgraded their infrastructure will use segwit to benefit from the improved transaction fees and in time regular user wallets will likely default to segwit addresses further decreasing fees. If you have all your bitcoin in existing addresses you will indirectly benefit from others using segwit addresses which will ease the pressure on block space.

If someone starts spamming the network again then it makes no difference what capacity the block is nor what addresses are in use - it will again push fees up artificially.

[rikyy]

As far as I can tell the fee will stay the same but that is just me.

[Tyrantt]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

fees are down by  a lot. Just for a comparison, when I was sending around $34 blockchain took around $2.6  and now when I was sending the same amount, the priority fee was below $1...

[RedditMaster]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

I hope the fees decrease... they are way too freakin high now almost 1% to get your transaction through high priority, which is unacceptable.

[Celsiuss]

The fees are normal at the moment. On my last transactions, I've paid roughly 0.20$ in fees, which is reasonable. I'm glad it isn't in the 2$'s like it was in a period, I almost didn't use bitcoin at all in that period.

[stompix]

As far as I can tell the fee will stay the same but that is just me.

Yeah it's just you.
Even before people start on using the segwit improvements like -ck said we are seeing lower fees

https://blockchain.info/en/charts/cost-per-transaction-percent?timespan=30days&daysAverageString=7

Was it spam, are people still afraid to transfer their coins ?
Don;t know the reason but the fees are going down.

[wildflower18]

The fees are normal at the moment. On my last transactions, I've paid roughly 0.20$ in fees, which is reasonable. I'm glad it isn't in the 2$'s like it was in a period, I almost didn't use bitcoin at all in that period.

I've tried doing transactions yesterday and I notice fees reduced compared before segwit. And most likely confirmation seems fast unlike before that it took 2days or more to confirm the btc in your wallet. So far its quite an improvement.

[maokoto]

I did not notice the fees going down either, however, transactions are faster. 2 Hours does not seem to much... I had to wait even 2 days not long ago.

[coynedterm]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

I th after the complete of the hard fork you didn't see the change in the fee of the btc , because here i myself feeling everything bettrr here in the bitcoin network .
Even with the small fees the transaction getting confirmed in ½ hours but earlier we needed lots of fee to confirm and akso needed to wait for long time of 1-2 hours to get confirmed .
So i am seeing the real change but may be it can be chance by luck .
But here another factor we can see that is proving the bitcoin is now more improved than what was it earlier . In the 2 last month prices of the bitcoin were much high due to increase in demand and due to increase in lots of transaction fee got high , but in the current time condition of demand is more but still with these many numbers of the transaction we need to pay moderate or even we can say low fee .
So just chill and enjoy this improvement and wait until everything we get official for BCH wallet because many transaction will be made by the bch coij instead to use bitcoin then may be more low fee we will need to pay for the transaction .

[daringdiscovered]

I have sent today and these days a few transactions and yes, the fees decreased and Bitcoin transaction was very fast. But a few times the fees suddenly went dramaticly up, so that I desided to wait a few minutes. After a short while the fees indeed went down. I could also adjust the fees to a price, I want, but feared, that Bitcoin gets awful delay.

I'm not still making any transaction since last week, but I'm going to check out if this is really true, though it is a good news since there are so many people who were complaining about this high transaction fee that they are paying on every transaction, especially those FAUCET's earner. I might still prefer the high transaction fee in some ways since I could have faster transactions than if I'm only paying low transaction fee.

[Nanda Dewi277]

I did not notice the fees going down either, however, transactions are faster. 2 Hours does not seem to much... I had to wait even 2 days not long ago.

You think 2 hours is a short time? That is not true, 2 hours is very a long time for the trader, Prices can change quickly and that can make traders lose profits if time to transaction needs 2 hours.

[ladydark]

People on the forum before Segwit were discussing about the transaction fee that after the segwit stuff is over the transaction fee will decrease. So, is there any chance for the fee to decrease now or these  were all rumours?

Its true.Bitcoin fees has decreased considerably after segwit activation.Even transactions are also confirmed very quickly.No more loots in the name of transaction fees.Spammers have already left the network even one week before activation of segwit.Biggest problem of bitcoin has almost been solved.

[pooya87]

let me give you a TL DR of the fees so you can see what is going on and what can be the future:

in the past year the adoption of bitcoin grew substantially. that means more people using bitcoin and more transaction.
blocks have a limited space (1 MB) so they become full easier. now what you need to know is that the adoption only meant blocks were nearly full and everything was smooth and would have been smooth for a long time.
but what happened was that a big scale spam attack started, that caused the blocks to be full and then a lot of transactions got stuck in the mempool (there were no more space left in blocks because they were full of spam transactions).
and when that happens a "competition" starts. a competition to get in blocks and for that you have to pay more "fees". so fees grew.

this severity lasted a couple of months, but nearly around the time of NYA spam attack slowed down and came to a nearly full stop.

now with SegWit the capacity will increase which means more transactions but spam attack will always be a thing and it doesn't matter how much you increase the block size, it can always be a thing and cause the fees to go up.
[of course it is spam attack combined with miners rejecting low fee transactions even if the blocks are empty]