Bitcoin Forum
December 13, 2024, 05:27:44 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 3 »  All
  Print  
Author Topic: What happen to bitcoin fees continues increased.?  (Read 1378 times)
Bitcoinsummoner (OP)
Hero Member
*****
Offline Offline

Activity: 1470
Merit: 624


Maintain Social Distance, Stay safe.


View Profile WWW
August 22, 2017, 06:13:28 PM
 #1

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it  because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

█████████████████████████
████████▀▀████▀▀█▀▀██████
█████▀████▄▄▄▄████████
███▀███▄███████████████
██▀█████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
██▄███████████████▀▀▄▄███
███▄███▀████████▀███▄████
█████▄████▀▀▀▀████▄██████
████████▄▄████▄▄█████████
█████████████████████████
 
 BitList 
█▀▀▀▀











█▄▄▄▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
REAL-TIME DATA TRACKING
CURATED BY THE COMMUNITY

.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀▀▀▀█











▄▄▄▄█
 
  List #kycfree Websites   
channingwilmer
Full Member
***
Offline Offline

Activity: 215
Merit: 100



View Profile
August 22, 2017, 06:24:30 PM
 #2

the fee is still comfortable to me. The price has doubled so you can not expect that the fee will be lower then. BItcoin cash has the lower fee but 8mb block is insane. This blockchain can easily be attacked and make the whole system collapse



░░░░░░░░░░▄▄▄▄▄▄
░░░░░░▄███████████▄
░░░░▄██▀▀░░░░░░░░▀██▄
░░░██▀░░░▄▄▄▄▄▄░░░░▀██
░░██▀░░▄██▀▀▀▀▀░░▄▄
██▀░░██▀░░▄▄▄▄░░▀▀
██▀░░██░░▄██▀▀▀█▄
██░░██░░██▀
██░░▀▀░░██
██░░▄▄░░██
██░░██░░██▄
██▄░░██░░▀██▄▄▄█▀
██▄░░██▄░░▀▀▀▀░░▄▄
░░██▄░░▀██▄▄▄▄▄░░▀▀
░░░██▄░░░▀▀▀▀▀▀░░░░▄██
░░░░▀██▄▄░░░░░░░░▄██▀
░░░░░░▀███████████▀
░░░░░░░░░░▀▀▀▀▀▀


░░░░░░░░░░▄▄▄▄▄▄
░░░░░░▄███████████▄
░░░░▄██▀▀░░░░░░░░▀██▄
░░░██▀░░░▄▄▄▄▄▄░░░░▀██
░░██▀░░▄██▀▀▀▀▀░░▄▄
██▀░░██▀░░▄▄▄▄░░▀▀
██▀░░██░░▄██▀▀▀█▄
██░░██░░██▀
██░░▀▀░░██
██░░▄▄░░██
██░░██░░██▄
██▄░░██░░▀██▄▄▄█▀
██▄░░██▄░░▀▀▀▀░░▄▄
░░██▄░░▀██▄▄▄▄▄░░▀▀
░░░██▄░░░▀▀▀▀▀▀░░░░▄██
░░░░▀██▄▄░░░░░░░░▄██▀
░░░░░░▀███████████▀
░░░░░░░░░░▀▀▀▀▀▀

▀  Twitter
▀  Telegram
▀  Facebook
▀  ANN Thread
▀  Whitepaper
▀  Website
TheQuin
Hero Member
*****
Offline Offline

Activity: 2576
Merit: 883


Freebitco.in Support https://bit.ly/2I9BVS2


View Profile WWW
August 22, 2017, 06:29:00 PM
 #3

It's because BCC became more profitable to mine, 40% of the miners switched over and BTC has been processing blocks much more slowly. In about an hour or 2, the BCC difficulty will retarget making BTC more profitable so they'll mostly switch back and fees will go down again.

freebitcoin.TO WIN A  LAMBORGHINI!..

.
                                ▄▄▄▄▄▄▄▄▄▄███████████▄▄▄▄▄
                    ▄▄▄▄▄██████████████████████████████████▄▄▄▄
                    ▀██████████████████████████████████████████████▄▄▄
                    ▄▄████▄█████▄████████████████████████████▄█████▄████▄▄
                    ▀████████▀▀▀████████████████████████████████▀▀▀██████████▄
                      ▀▀▀████▄▄▄███████████████████████████████▄▄▄██████████
                           ▀█████▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀█████▀▀▀▀▀▀▀▀▀▀
                   ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
kokojie
Legendary
*
Offline Offline

Activity: 1806
Merit: 1003



View Profile
August 22, 2017, 06:32:33 PM
 #4

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it  because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

CORE want you to do off-chain transactions and is about to introduce Lightning Network, and to push users into this new paradigm, on-chain transaction have to become very expensive, so you probably haven't seen anything significant yet.

This is why CORE has refused basically every single attempt to increase block size that now has proven to provide simple and easy scaling for Bitcoin on chain transactions.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
Catmony
Hero Member
*****
Offline Offline

Activity: 854
Merit: 500


View Profile
August 22, 2017, 07:37:42 PM
 #5

This one is just another temporary congestion of mempool because of sudden shift of bitcoin miners to bitcoin cash which will change when mining difficulty will be readjusted in both chains. Miners will be back to btc mining and even if they will not blocks will be mined in every 10 minutes like before, this will also lower down the fee.
pitiflin
Hero Member
*****
Offline Offline

Activity: 980
Merit: 507



View Profile
August 22, 2017, 08:00:23 PM
 #6

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it  because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..
Bitcoin cash,seriously? There is this saying ,"If you are good at something,never do it for free!" I am not saying that the fees should definitely be the same or increase,you have to expect the fee to go up when the price goes up.So the fees will be increasing and you should not stop using bitcoin just because of its fees.Are you ready to give up on bitcoin just because you will have to pay a couple of bucks more for every transacion? No one is stopping you,go ahead.


       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██

       █
      ██
     ██
   ██ ██
 █ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
██ ██ ██
  B

          ▄▄▄▄▄▄
     ▄▄████████████▄▄
   ▄█████▀▀    ▀▀█████▄
  ████▀            ▀████
 ████                ████
▐███                  ███▌
███▌                  ▐███
▐███           ▄▄     ███▌
 ████         ▀███▄  ▐███
  ████▄         ▀███▄███
   ▀█████▄▄     ▄█████▀
     ▀▀████████████▀▀
          ▀▀▀▀▀▀
T 
.Better. Quick..

.Transparent....






             ▄████▄▄   ▄
█▄          ██████████▀▄
███        ███████████▀
▐████▄     ██████████▌
▄▄██████▄▄▄▄█████████▌
▀████████████████████
  ▀█████████████████
  ▄▄███████████████
   ▀█████████████▀
    ▄▄█████████▀
▀▀██████████▀
    ▀▀▀▀▀






▄█████████████████████████▄
███████████████████████████
███████████████▀       ████
██████████████      ▄▄▄████
██████████████    ▐████████
██████████████    ▐████████
██████████            ▐████
██████████            █████
██████████████    ▐████████
██████████████    ▐████████
██████████████    ▐████████
▀█████████████    ▐███████▀






                   ▄▄████
              ▄▄████████▌
         ▄▄█████████▀███
    ▄▄██████████▀▀ ▄███▌
▄████████████▀▀  ▄█████
▀▀▀███████▀   ▄███████▌
      ██    ▄█████████
       █  ▄██████████▌
       █  ███████████
       █ ██▀ ▀██████▌
       ██▀     ▀████
                 ▀█▌
HTracer
Full Member
***
Offline Offline

Activity: 152
Merit: 100


View Profile
August 22, 2017, 08:11:47 PM
 #7

Has "Make bitcoin dead again" FUD campaign begun? Gonna wait couple of day when it gets at full swing and buy.
darkangel11
Legendary
*
Offline Offline

Activity: 2478
Merit: 1360

Don't let others control your BTC -> self custody


View Profile
August 22, 2017, 08:53:41 PM
 #8

Nobody is going to switch to BCC because its fees are lower. Once transactions would start piling up on that blockchain the fees would go up as well. In this world you get nothing for free. BCC is unpopular at the moment, so it's cheap and fast, but so are other altcoins. Some of them have instant transactions and still nobody is switching from BTC for that reason.
Tanaka Osato
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
August 22, 2017, 09:12:04 PM
 #9

Has "Make bitcoin dead again" FUD campaign begun? Gonna wait couple of day when it gets at full swing and buy.

Agreed, these are good times for buying opportunities.
squatter
Legendary
*
Offline Offline

Activity: 1666
Merit: 1196


STOP SNITCHIN'


View Profile
August 22, 2017, 09:21:41 PM
 #10

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it  because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..

Bitmain is going full speed ahead promoting Bitcoin Cash. First, the pump. Then the "automatic BTC-BCC pool switcher" from Antpool. Hash rate is falling for BTC -- 1 block is being generated every 10.7 minutes. And now they are back to spamming the network: https://blockchain.info/unconfirmed-transactions Blockchain.info is showing nearly 100k unconfirmed transactions (almost 100 BTC in fees).

1Referee
Legendary
*
Offline Offline

Activity: 2170
Merit: 1427


View Profile
August 22, 2017, 09:39:09 PM
 #11

BCC is unpopular at the moment, so it's cheap and fast, but so are other altcoins. Some of them have instant transactions and still nobody is switching from BTC for that reason.

People have been threatening to leave Bitcoin a few months back due to the high fees and slow confirmation times, but yet they are still making use of Bitcoin. It's all empty talk from these people. Bitcoin is by far the best and safest network to conduct payments, and there is no altcoin that changes anything in that regard. People, and then mainly the blind chickens, don't realize that if whatever altcoin gets to experience the same level of growth as Bitcoin, it will go through the same difficulties. Take Ethereum as an example - this coin was stated to be a cheap and fast alternative, but turns out, the fees went up significantly due to the increased usage, and the network experienced difficulties. Roll Eyes
anon4250158
Sr. Member
****
Offline Offline

Activity: 266
Merit: 256


View Profile
August 22, 2017, 09:59:28 PM
 #12

Significant numbers of miners are seriously moving their hashing power to BCC?  Is the difficulty so low that it covers the $3400 difference in price?
spadormie
Sr. Member
****
Offline Offline

Activity: 840
Merit: 268



View Profile
August 22, 2017, 10:15:28 PM
 #13

Well I think the fee for the transaction is good for me and I think that it is affordable for us especially at delivering with high price. For example I'm to transfer .1 btc and the fee for that let say .001 btc. I think that it is affordable for me. Can I ask what is the fee before? I just known bitcoin for about months.




.




  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄████████▀▀▀▀███▄
███████▀     ████
███████   ███████
█████        ████
███████   ███████
▀██████   ██████▀
  ▀▀▀▀▀   ▀▀▀▀▀

  ▄▄▄▄▄▄▄▄▄▄▄▄▄
▄██▀▀▀▀▀▀▀▀▀▀▀██▄
██    ▄▄▄▄▄ ▀  ██
██   █▀   ▀█   ██
██   █▄   ▄█   ██
██    ▀▀▀▀▀    ██
▀██▄▄▄▄▄▄▄▄▄▄▄██▀
  ▀▀▀▀▀▀▀▀▀▀▀▀▀

            ▄▄▄
█▄▄      ████████▄
 █████▄▄████████▌
▀██████████████▌
  █████████████
  ▀██████████▀
   ▄▄██████▀
    ▀▀▀▀▀

    ██  ██
  ███████████▄
    ██      ▀█
    ██▄▄▄▄▄▄█▀
    ██▀▀▀▀▀▀█▄
    ██      ▄█
  ███████████▀
    ██  ██




               ▄
       ▄  ▄█▄ ▀█▀      ▄
      ▀█▀  ▀   ▄  ▄█▄ ▀█▀
███▄▄▄        ▀█▀  ▀     ▄▄▄███       ▐█▄    ▄█▌   ▐█▌   █▄    ▐█▌   ████████   █████▄     ██    ▄█████▄▄   ▐█████▌
████████▄▄           ▄▄████████       ▐███▄▄███▌   ▐█▌   ███▄  ▐█▌      ██      █▌  ▀██    ██   ▄██▀   ▀▀   ▐█
███████████▄       ▄███████████       ▐█▌▀██▀▐█▌   ▐█▌   ██▀██▄▐█▌      ██      █▌   ▐█▌   ██   ██          ▐█████▌
 ████████████     ████████████        ▐█▌    ▐█▌   ▐█▌   ██  ▀███▌      ██      █▌  ▄██    ██   ▀██▄   ▄▄   ▐█
  ████████████   ████████████         ▐█▌    ▐█▌   ▐█▌   ██    ▀█▌      ██      █████▀     ██    ▀█████▀▀   ▐█████▌
   ▀███████████ ███████████▀
     ▀███████████████████▀
        ▀▀▀█████████▀▀▀
FIND OUT MORE AT MINTDICE.COM
squatter
Legendary
*
Offline Offline

Activity: 1666
Merit: 1196


STOP SNITCHIN'


View Profile
August 22, 2017, 11:41:12 PM
 #14

Significant numbers of miners are seriously moving their hashing power to BCC?  Is the difficulty so low that it covers the $3400 difference in price?

I don't know the details about difficulty, but it is has dropped a lot for BCH vs. BTC. There are sites that track the difference in profitability, and Antpool is now implementing an automatic pool switcher depending on profitability. This is the biggest drop in the BTC hash rate I've seen in a very long time. It's bigger than any drop I can see in the 9-month chart. No matter how profitable it is to mine BCH, Bitmain is likely behind the majority of this drop.

savioroshan
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
August 22, 2017, 11:50:42 PM
 #15

op your  question is good.  If bitcoin' s fee increase people won't use bitcoin for small transactions.  For small transactions they will prefer fiat currencies only.just think, for a 10 dollar product who will spend 12 dollars? If the fee keeps on increasing like this people won't use it for buying stuff, they will hold it as investment only.
cjmoles
Legendary
*
Offline Offline

Activity: 1176
Merit: 1017


View Profile WWW
August 23, 2017, 12:23:23 AM
 #16

op your  question is good.  If bitcoin' s fee increase people won't use bitcoin for small transactions.  For small transactions they will prefer fiat currencies only.just think, for a 10 dollar product who will spend 12 dollars? If the fee keeps on increasing like this people won't use it for buying stuff, they will hold it as investment only.

It's getting ridiculous....if the problems persist, the markets which accept bitcoin payments will switch over to a more economically sound platform.  I mean, who's buying coffee with bitcoin anymore?  The other day I was going to make a five dollar purchase but changed my mind when I realized the minimum transaction fee was 6 dollars!
Hagmonar
Full Member
***
Offline Offline

Activity: 406
Merit: 100



View Profile
August 23, 2017, 02:25:32 AM
 #17

If it becomes like this as always maybe all of people suffer for this and probably all bitcoins user maybe switch to other altcoins that pay lower price than bitcoins even me also
Kingofbitcoin12345
Full Member
***
Offline Offline

Activity: 462
Merit: 102



View Profile
August 23, 2017, 03:06:53 AM
Last edit: August 24, 2017, 03:50:32 PM by Kingofbitcoin12345
 #18

Fees could be changeable also because of the higher price of bitcoin.. We can't just complain about it for we also benefited by increasing price that even our hold bitcoin also increase the same time..

____________yahoo62278 CAMPAIGN MANAGER________  ◥◥  The Best & Most Popular Manager  ◤◤  ____________
ICO Manager          Bounty Manager          Signature Campaign Manager          Twitter Campaign Manager
█████████████████████████   ADD "yahoo62278" on Telegram & Skype   █████████████████████████
smartbitcoininvestor
Sr. Member
****
Offline Offline

Activity: 652
Merit: 257



View Profile
August 23, 2017, 03:22:37 AM
 #19

It means that being a miner is going to be extra profitable over the long run. Picking up extra transaction fees while the price increases must be nice.

Really makes me want to consider going in deeper with mining Bitcoins. Lots of potential here, especially with other alt currencies as well.
KnightElite
Sr. Member
****
Offline Offline

Activity: 924
Merit: 275


View Profile
August 23, 2017, 03:27:32 AM
Last edit: August 23, 2017, 08:51:39 AM by KnightElite
 #20

Hi guys just want to ask why the bitcoin fees are increasing i just notice the fees here https://bitcoinfees.21.co/
where 450sat/byte I thought this issue is already been solve what happen to bitcoin Or we should need to go switch to bitcoin cash instead?
But the problem switching to bitcoin cash still not worth it  because there are still no merchant are accepting bitcoin cash here in my country.. unlike bitcoin..
I really don't like the high transaction fees in the bitcoin. It really pissed me off because I can considered it as an expense. I hope the transaction fee will become low.
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!