Why are fees going so high?

[Lindworm]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

[1715063367]

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[Lanatsa]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

Fees seems just fine for me since i do set fees usually on 0.0002-0.0004 maximum which i consider just small for me if you do make micro transactions then for sure you would really feel this fee but if you are transacting huge amounts you wont really feel at all. Want to ask what wallet you do use? Since there are wallets you can eventually set up a particular fee amount just be sure that it would be sufficient.

[Fappanu]

I think it's not fair to us  small time earner. Because if we are to invest money for investments and other trading sites it will only cost them. And if it gets higher then we become more and more difficult. So I think the bitcoins is for  rich now . But we can not do anything. Bitcoins are rising and naturally our bitcoins will also increase the price but

[bitbollo]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

before sending one transaction take a look here: https://bitcoinfees.21.co/
Right now if you want a tx confirmed for the next block you need to pay at least 391-420+ satoshis/byte.
If you have enough patience to wait 2-5 blocks (maximum 50 minutes) you can be lucky if you spend 331-360 satoshi byte / or very lucky with 301-330 satoshis/byte.
Fees are higher because using blockchain now it's expensive. You need to pay to cover tx fees more (also 4 times bigger) then one year ago.
I think it's a good sign for the entire network, and there isn't only a bad news behind it.
If you want fast confirmation and everything else use another coin, because btc actually have a limited block size.

[malikusama]

As the number of users in bitcoin network are increased a lot during the past couple of years the transactions per day is increased and so the transactions fee is raised as its demand is increased. The transaction confirmation is prioritized now the more you will pay the transaction fee (miner fee) the more quickly your transaction will be confirmed.

[panganib999]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

obviously the bitcoin market value is again sky rocketing up to 4000$ which is a good thing and it is just normal to also increase the fee to balance since the rate also increase they will also increase the rate in the fee but there are just taking advantage of it.

[swogerino]

Fees are not going high. There are different fees from lowest where you will wait much longer for your transaction to be confirmed or going to highest where your transaction will be included in the next block usually. I am talking about Electrum wallet which lets you choose fees as you want. There are not only lowest and highest fees, you have the option to check a medium low or medium high fee.

Always consult the bitcoinfees.21.co

Now the recommended fee is 420 satoshi/byte (highest fee) and medium is 270 satoshi/byte

[Beicin]

Fees are high because the blocks are 1mb maximum... and they cant handle the amount of transactions going on at the moment...

If the coin keeps growing further, the problem will only get worse, with fees higher and higher everytime you want a transaction done quickly..

[Wipro]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

Fees seems just fine for me since i do set fees usually on 0.0002-0.0004 maximum which i consider just small for me if you do make micro transactions then for sure you would really feel this fee but if you are transacting huge amounts you wont really feel at all. Want to ask what wallet you do use? Since there are wallets you can eventually set up a particular fee amount just be sure that it would be sufficient.

Hey please go and check in the any online wallets. You can find the fees what is been assigned in the wallet provider site.
If I am right today bitcoin transaction fees is around 0.0008 btc for each transaction. Investors won't be affect because of this but little amount earners will affect.

[AGD]

Hashrate is going down, time to solve a block is raising.

[pearlmen]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

I don't know the basis of your conclusion because you know what you witness before concluding fees is high but I would apprecaite if you can post the txid and so that we can equally look into it ourselves. But for me, I have not seen any out of the ordinary transaction fees in the last couple of days as I have equally made some transactions myself too.

[bamboylee]

The last time I send tx fees are lower than the usual fees I pay. But if you think the fee is still overpriced, you can always use lower fees and then use viabtc accelerator to hasten the transaction fees.

[25hashcoin]

Chain death spiral: http://bitcoinandtheblockchain.blogspot.co.nz/2017/08/chain-death-spiral-fatal-bitcoin.html

BTC is dying

Buy Bitcoin Cash quick!

[webtricks]

Hashrate is going down, time to solve a block is raising.

Or maybe its a miners' move urging fork!! Who knows. The fees rose dramatically two-three months back just to make atmosphere for BIP148, however, when possibility of UASF died fees again recovered to low. Now it seems to me the second attempt from miners to path another fork (am I smelling Segwit2x  )

[BrewMaster]

it is partly because they are giving away free money to anyone who mines bitcoin cash these days. right now you can find a block every 1 or 2 minutes there so obviously miners prefer the free money for the time being until the difficulty is adjusted and they move back to the real valuable coin. during this time there is a longer time for finding blocks.

on top of it we always have the spam attack issue with bitcoin and block size is still 1 MB with no SegWit since it is not yet activated.

[kokojie]

Because CORE lied to you and segwit doesn't do shit to scale Bitcoin, even for the short term. CORE's goal is centralize Bitcoin by introducing Lightning Network.

Super expensive on chain fees are their method to push you to use LN and doing offchain transactions, since they will be a lot cheaper. CORE doesn't even hide the fact that they will turn Bitcoin chain into a "settlement network", only affordable to the operators of LN nodes (eg. corporations).

Bitcoin Cash backers (eg. big blockers) were right all along, bigger blocks were the answer to scale Bitcoin and have sane fees.

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

[Fujiati]

Hi,

I don't understand why the fees are getting so high right now? Smaller transactions get eaten alive.

In my opinion is not the cost of living is expensive but it all depends on us in living this life, we just choose a life spree or life sparing by buying the necessary

[ashfer]

the fees are going high because more and more people started learning about bitcoins and its benefits and so the demand is going high and there is much bitcoins created to provide as per demand so is the main reason for the price to rise so high.Maybe in future we can expect more bitcoins to be created .

[Shinza]

The charge rate is the same as a convention, although it is not really fair for people to do the transaction. Sometimes you make a transaction for only $ 50 and you have to pay around $ 4 for fee and make a $ 500 transaction also like that.But this fee is  necessary , I think that..

[nrvasquez]

Because now many people are doing transactions, I think you can also choose how much cost you will choose because the transaction costs are getting bigger will also make your transaction quickly finished.