What happen to bitcoin fees continues increased.?

[Schuyler]

$2 for a $20 transaction seems too high as of the moment. And it doesn't get confirmed as soon as I want it. If it's true that some of the miners are transferring hash power to bitcoin cash, then that could mean even slower processing for bitcoin transactions, which is not good at all.

[Rajamuda]

The fees of bitcoin continues to increase i think it is greatly influenced by the value of bitcoin that now keeps moving at a high value or bitcoin price it's at increasing price from before, of course it will affect bitcoin fees i guess. Just as the bigger what we get the greater the cost to be incurred, it is relatively happening to life as well in general.

[dimastegar]

As long as the amount of Bitcoin I send does not decrease much, I will tolerate a small or large fee. The bigger the fee, the faster our Bitcoin delivery will be. So, this does not matter. And usually, I convert BTC to DOGE, then just send it to avoid a large fee.

[JimmieA]

The fee you pay for each transaction is set at a certain percentage of the btc price. As a result, as the btc price increases, the fee will be increased accordingly. For Newbie members, they do not really agree with this fee, because the tradition they make are usually quite small and the fees they pay are not fair.

[niisarearning]

Fees is high because of high demand that eventually reflect bitcoin growth also so that only price increasing almost double so for me fees is quite fair as long as bitcoin value increasing .

[franco123]

Good topic. This is one of the things that I am concerned of as of now. If you look and observe it closely, the Bitcoin fees is gradually increasing. What is scary about this is that it can drag the number of bitcoin users down because they will be discouraged of it. With that, the lower users we will have, the lower the demand will have. And we all know that the lower the demand, the lower the price will be for the Bitcoin. The value of Bitcoin in general will decrease and other cryptocurrency may increase it's value against Bitcoin.

[chocolah29]

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..

Nah I would rather pay the high fee than to switch to your bitcoin cash.
The fee is still reasonable for me as I understand the situation. The blockchain is too congested as many transactions happens every minute and the miners are getting less over time.  And of course bitcoin's price is geting higher and in return of that the high fee.

[ObscurePen]

It is because of Bitmain and its constant promotion of Bitcoin cash. Bitcoin cash is becoming much more profitable to mine when compared to Bitcoin. Large numbers of miners are switching their mining power over to Bitcoin cash. This is becoming even more convenient to do especially since Antpool launched its “pool switcher”. Basically, miners can switch from either pool depending on mining profitability. This is causing massive fluctuations in hash power. It is a bit ridiculous. Before it was Bitcoin cash which had lost all of its hash power. Now, we are witnessing a massive change in power. I hope prices drop. That was the entire purpose of launching Segwit. For now, that plan has backfired.

[ObscurePen]

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.

What? 0.001 transaction fee to transfer 0.1 Bitcoin to another account. That is quite lucky for you. I am paying nearly 3 times that. But I think that is partially because my address has a high number of inputs. It is past time to fix that. Anyway forget about the amount that I pay, even 0.001 Bitcoin is a high price to pay. Do you know how much 0.001 Bitcoin is? It is around $4USD. Compare this rate with the amount you are paying to transfer 0.1 Bitcoin worth of fiat from one bank account to another. You are barely paying anything for a bank transfer. It is a fraction of the cost that you are paying for Bitcoin.

The fee was much lower before. Then we launched Segwit to fix everything. Unfortunately, this only seemed to aggravate transaction fees.

[inanilujimi]

I think the bitcoin transaction price still makes sense with the number of bitcoin requests.
I personally do not feel the difficulty of the increase.

[mvidetto]

As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.

[Vishnu.Reang]

As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.

From what I have seen, the fee have nothing to do with the exchange rates. When the exchange rates were below $1,000 per coin in March, the average fee was around BTC0.0001. And this increased to BTC0.0010 to BTC0.0015 when the exchange rates increased to $4,000 per coin.

[DoublerHunter]

If the fees will continue to increase then a lot of people will get mad for that because they are here and using bitcoin because of the fast transaction and also cheap fees and if the fees will continue to get more expensive then they will think for transferring from bitcoin to another good coin with better and more affordable fee for every transaction.

[slackcryptoz]

As BTC values is increasing the fee will increase correspondingly. It is a normal transaction process within the blockhains.

From what I have seen, the fee have nothing to do with the exchange rates. When the exchange rates were below $1,000 per coin in March, the average fee was around BTC0.0001. And this increased to BTC0.0010 to BTC0.0015 when the exchange rates increased to $4,000 per coin.

The price increases and only depending on the price the transaction fee increases. So there is nothing as a flaw or something with the transaction fee. Once it was found big when majority of the transactions got stuck to the network which got solved in a short time period.

[arseaboy]

If the fees will continue to increase then a lot of people will get mad for that because they are here and using bitcoin because of the fast transaction and also cheap fees and if the fees will continue to get more expensive then they will think for transferring from bitcoin to another good coin with better and more affordable fee for every transaction.

if alts which cheap in transaction process can be convert directly to a local fiat maybe it can be possible but as long as btc is the main crypto which can be easily be exchange to fiat so we cant do nothing but to wait for any solution from the core on how they can minimize the fees.

[Boov]

Well it is really increasing sort of i do have a transaction lately i do transfer a bitcoin to another wallet so that i could do buy a load for my mobile network then the fee is greater than my amount of bitcoin that ive sending. Thus now unlike before the price is we cant really feel it but now it is really big and also it really hurt us a lot, though the thing is you should send bitcoins in big transaction.

[IamAltcoinfan]

If bitcoin fees increases then obviously bitcoin price also increase because of huge demand also I am not seeing much fees it's fair till now may be for the new comer s in future it would see it expensive.

[ekoice]

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.

No one would move from BTC to BCC for the reason transaction fee is higher in BTC.If they had found this as a strong reason to move,then they would have moved much earlier to any other altcoin which provides quick transactions with very low fee.Just this month beginning,segwit has been activated.It would completely get locked in in november and from then,this high fee problem would get solved.

[eternalgloom]

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.

No one would move from BTC to BCC for the reason transaction fee is higher in BTC.If they had found this as a strong reason to move,then they would have moved much earlier to any other altcoin which provides quick transactions with very low fee.Just this month beginning,segwit has been activated.It would completely get locked in in november and from then,this high fee problem would get solved.

The biggest advantage of Bitcoin over Bitcoin Cash is that Bitcoin still has way more services and infrastructure built around it, compared to Bitcoin Cash.
Plus, the price of Bitcoin is still rising steadily, even with some price drops in between, it seems to hover around 4000 dollars consistently.

The high fees are merely a temporary nuisance anyway. 

[dothebeats]

The recent increase in fees is due to the fact that ~20% of the miners have transferred over to mine BCH in the mean time due to the low difficulty. Right now, due to the surge of BTC users in BCH, the difficulty has since increased by almost 2.5x and miners are now moving back to BTC. It's just a temporary and the fees have now been normalized.