High transaction fees !

[bjbear123]

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

[1714895171]

1714895171

[1714895171]

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[Irlasos]

I personally use this website: https://bitcoinfees.21.co/
But it look like you need to put 301 satoshis/byte or more to be sure the transaction will be confirmed, and apparently the transaction could take some days with this fee.
Edit: Bad satoshi/byte indicated in first time

[haroldtee]

I noticed this too in my transaction yesterday. I actually thought with the whole segwit activation, we will have a lower transaction fee. Seems it has increased more than we even had before. Is this how we are going to keep going or there is something I am missing out here.

[25hashcoin]

Smart users and money are switching to Bitcoin Cash. It will take over soon so get it while you can still get 1:1 and better on your Corecoins!

[FiendCoin]

Bitmain is deliberately mining empty blocks, while also spamming the network and moving its hash to bcash just to cripple bitcoin. All the current problems are of bitmain's doing. Never forget, bitmain is the enemy.

https://cointelegraph.com/news/antpool-asicboost-share-blame-for-bitcoin-network-delays

This is what happens when mining centralizes and one miner gets too much power.

[audaciousbeing]

Bitmain is deliberately mining empty blocks, while also spamming the network and moving its hash to bcash just to cripple bitcoin. All the current problems are of bitmain's doing. Never forget, bitmain is the enemy.

https://cointelegraph.com/news/antpool-asicboost-share-blame-for-bitcoin-network-delays

This is what happens when mining centralizes and one miner gets too much power.

And this is where the issue is and its not unconnected to the fact mining bitcoin is practically impossible without heavy machines which can only be afforded by few organisations that are only for profit motive and in this case, they tend to use the power of monopoly to derail the development course of things but unfortunately there is nothing anybody can do about it and the developers who could do more are much interested in creating their own version of bitcoin.

[Taki]

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

The transaction fee is in Bitcoins and if it was like 0.2$ before when the price for bitcoin was like 400-500$ you can't do anything now with such high prices in dollars. I suggest you to keep ypur money and to save some bigger amount before to cash it out to not spend so much for fees. You will not find any cheaper place than Blockchain.info actually.

[dothebeats]

Bitmain is deliberately mining empty blocks, while also spamming the network and moving its hash to bcash just to cripple bitcoin. All the current problems are of bitmain's doing. Never forget, bitmain is the enemy.

https://cointelegraph.com/news/antpool-asicboost-share-blame-for-bitcoin-network-delays

This is what happens when mining centralizes and one miner gets too much power.

I still hope that some other large mining pool takes the place of Bitmain since they're the ones pushing these problems in the fees and unconfirmed transactions. If we can't further decentralize mining, then maybe it's time to move to a new algorithm which will enable other small-time miners to catch up in the game and to not let the power be controlled by a few leftist cunts.

[bjbear123]

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

[olubams]

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

If this is what is really going on as I have  not carry out any transaction of late then its unfortunate that after the whole news about August 1 or Segwit of the 23rd are all meant for selfish interest if it wont reduce or even abate the situation pre all this period and now we are back to the point where we started if not worse now.

[J. Cooper]

Im yet to send my first bitcoin transaction but I've heard that the fees have been very high as of recently. However with the whole segwit thing the fees should be lower but I am not sure if they actually are. I think your transaction will be confirmed eventually but it will take quite some time.

[Kaller]

Do not worry about these fees. See, soon Lightning Network will be introduced and there will be more fees allowed than even VISA or other credit cards and it will only be $0.05 per transaction.

[bitcoinmaniac52]

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

I hear you, brother. Just wait until LN comes and we will look back and wonder why it wasn't introduced a long time ago. At least, hopefully.

[craZyLovE0916]

The transactions are outrageous I have some Bitcoin right now but there is no way I can move it or at least would because the fees are too high I will wait until they go down before even trying to move it anywhere.

[1Referee]

The transactions are outrageous I have some Bitcoin right now but there is no way I can move it or at least would because the fees are too high I will wait until they go down before even trying to move it anywhere.

If you're talking like that, I get the feeling that you are looking to move just a few bucks worth of coins, am I right? Either way, you aren't being forced to pay the highest fee if you just make use of desktop clients. If you have the patience, you can go with a lower fee, but you will need to accept that you will have to wait for several hours before your transaction gets confirmed. I personally haven't been experiencing much difficulties as mostly all my transactions contain fees 50% lower than what is being recommended, and they in 95% of the cases still get confirmed by the next block. I just avoid to move small numbers of coins since miners seem to grant larger transactions with lower fees far more priority.

[TrumpD]

The transaction fee is insane right now, something is seriously wrong. Hopefully things go back to how they were a few days ago. Reasonable fees and fast confirmation times. Bizarrely the price is on the up considering the madness.

[maeusi]

Seems, that I lost 0 008 BTC, because my fees were accidentally to low. Tried VIA BTC accelerator but limit always is reached and my fee is lower than 0.0001. Tried double spend. Sent same amount to my own btc adress with higher fees 0.001.But doesnt seem to work.

[Gaaara]

That's probably not a good idea, transferring without a good reason is a complete waste of money, as the price consistently going up it is better not to do an unnecessary transaction as much as possible, as of now only big amount is better to transact than low amount because it is too much for the amount you'll about to transfer.

[BitMaxz]

I just noticed that the default fee increasing again that i think looks like the segwit is not helping a lot to decrease the fee or increase the speed of the transaction ..  look at the bitoinfees.co right now the default fee was increase more again and it will be increase more and more soon..
And i think this because other miners are going to mine bitcoin cash instead of staying mining with bitcoin who can do confirm transaction..
For now better to wait more days to see what will be the help of segwit..

[Bitcoininvestment]

Hi all, haven't posted here in a while... Just noticed how high the transaction fee is now, $5 for a small transaction with blockchain.info Any ideas if the transaction will still get verified with a $0.2 fee... I only want to transfer $10 to one of my other wallets

In my opinion the bitcoin market value is increasing and sky rocketing in a price that really unexpected and increasd up to 4500$ which is really high i guess having this market value it is reasonable to make a high fee in the case of market value to balance the transaction also.