Bitcoin huge fees

[Adbitco]

Bitcoin fees are nothing to do with the amount being sent.  Had you sent a $10,000 transaction with the same number of inputs (probably one or two in this case), you would have had the same fee.  Bitcoin transaction fees are about the size of the transaction in bytes.
If you're concerned and you particularly need to send a smaller amount, you could just:

-Set a lower fee (one that will still get confirmed eventually)
-Use a transaction accelerator with a low-fee transaction
-Use a SegWit-compatible wallet such as the Ledger hardware wallet to send SegWit transactions and reduce fees.

In addition to all the three points mentioned above by the senior member I would like to say try to avoid small amount transactions frequently and also try to make transactions in bulk so as to avoid high fee for every single transaction.

[shield132]

That was mentioned for many times, bitcoin fees aren't fair because they are very high for low transactions but for high ones like more than 1 btc, it's acceptable. No one likes that fact, only some people or bitcoin fanatics love that fact, can't understand why..
Btw we have a good thread about that unfair fees and I think it will be better if we won't create new threads and post here: https://bitcointalk.org/index.php?topic=1887619

[Cormoran]

The issue is to whom you want to pay your fees to.

Jamie Dimon of Chase Bank or your friendly bitcoin miner.

There is no free lunch.  Wake up.  Sending money costs money.  What do you think this is?  The future?

All cryptos have fees, but at least they are not as high as Western Union fees.

Just pay the miners their pound of flesh and be happy that it is not going to the banksters.

Bitcoin - "At least we are miners, not bankers"

This is not exactly true; many banks will allow you to bank, and even send money as a very low-priority transaction (ACH), without fees if you have a certain minimum balance. In that case, you aren't directly paying fees; of course, you do agree to allow the bank to use your money in its other lending practices, so that they can make several percentage points a year while paying you under 1% in interest. In that respect, you are paying for being allowed to use their system, but only in opportunity costs. Bitcoin transactions, on the other hand, are entirely safe and secure until the owner of the private key authorizes a transaction; but since no one can profit from it other than when it's part of a transaction, those transaction fees are indeed a necessary evil.

[Iranus]

Bitcoin is no more for small transactions. They have to find a solution to reduce transactions fees.

They have a solution to reduce transaction fees - pay 'off-chain' payment channel (patented) fees.  

How did you manage to get two things wrong in just one sentence?

-LN is not patented
-LN is nothing to do with lowering onchain transaction fees, that part will happen when people start sending SegWit transactions

Fees are too low. 20sat/b is ridiculous.

Bait.

[Satobit]

1mb cult is so disgusting.

[Wind_FURY]

There is no free lunch.  Wake up.  Sending money costs money.  What do you think this is?  The future?

Yes, but - WAKE UP - if me sending $5 costs $10 then this whole thing is getting absolutely ridiculous!

I thought the $3 fee was quite laughable, but today Jaxx was asking $10 to send $5 so I guess I'm done with BTC. Better leave this to the guys for whom $10,000 is pocket money not wroth picking up if it falls from their pocket.

Bitcoin Cash is your friend.  Go use that one.  It works like the real Bitcoin, because it is actually the original Satoshi Bitcoin.  Not this bullshit $10 bank charge just to make one transaction.  Money Wire fees are only $50.

I would love to use an implementation of Bitcoin that is not taken advantage of by the greedy miners who only mine in the chain because it is more profitable for them. Then the moment that it stops being profitable, they start mining somewhere else.

I still hold my all BitcoinCash from the fork but how do I use it if no merchant accepts it?

[Manuj]

now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks

I noticed an essentially similar thread started with almost the same claim a couple of days ago I think. Is this the same modus? I think the best way to counter this is to withdraw a large amount. I do not think it is necessary after all to withdraw every once in a while a small amount of Bitcoin.

[karisiak123]

maybe the cost for bitcoin is huge and only people who have a lot of money are paying for bitcoin or maybe a big person.

[Palmerson]

now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks

I noticed an essentially similar thread started with almost the same claim a couple of days ago I think. Is this the same modus? I think the best way to counter this is to withdraw a large amount. I do not think it is necessary after all to withdraw every once in a while a small amount of Bitcoin.

So do all. But that support trade in Fiat. We need to develop trade with bitcoins. Only increase the speed of bitcoin can give a guarantee that bitcoin will grab the new position. Miners have to earn the fact that users will save on exchange. This could solve a lot of problems.

[Lannie25]

Certainly the higher the bitcoin transfer fee is now unequal to the bitcoin users

[stompix]

Fees are too low. 20sat/b is ridiculous.

People are not interested in price behind a bit. They are interested in the end result. To pay $ 3 for any translation is not a small sum when it comes to small transfers. It makes people to do large transfers to a Bank card and make small purchases with national currency. Do you think this is good for bitcoin?

20sat/b is indeed ridiculous cheap for the last moths or so.
At those prices you will get a 60m confirmation for 10 inputs at 1$.

The problem is that if we have another spam wave hitting the chain 20satoshi/b tx won't be confirmed in our lifetime.

Certainly the higher the bitcoin transfer fee is now unequal to the bitcoin users

And why is that?
We all are paying the same fees , it's not like there are some elite conspirator groups that get away without paying a fee.


 

[TheRakula]

Bitcoin has huge fees and people don't want to pay if they do it in small values. That's why please started using bitcoin cash. I don't want to use bitcoin cash because of thinking that bch is a treachery to btc. Hope fees go down after hard fork.

[xaxistech]

Yes it needs to be changed as soon as possible, a few days ago i had to send a $10 (0.018 in btc) and i had to pay $5 in fees, that is insane. I dont use to make that kinds of transactions because they are too low, but i think about that people who make microtransactions everyday, how do they afford them? that is impossible to handle.
I think they need to be lowered soon, that is why i love holding bitcoin and using ONLY altcoins for payments... because the fees.

[Ayiranorea]

now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks

I noticed an essentially similar thread started with almost the same claim a couple of days ago I think. Is this the same modus? I think the best way to counter this is to withdraw a large amount. I do not think it is necessary after all to withdraw every once in a while a small amount of Bitcoin.

Yes, most of the time bitcoin doesn't suit good for small scale transactions, because in some cases the transaction amount equals the fee. With large volumes of transaction even when the fees is high, people just ignore it as the fee contributes a small percentage of the transacted amount.

[Irvinn]

now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks

Even though they show the transaction fee, you don't have to accept it and proceed, you have the ability to adjust it so that you pay slightly lower fees. And this high fees was to be expected because the value of bitcoins rose.

However, this does not solve the problem of high fees for transactions in bitcoins. In fact, bitcoin slowly turns into digital gold and serves as a means of storage, not for calculations. At this time, bitcoin can make expensive purchases, small and medium-sized purchases are almost not profitable. At the same time, these shortcomings are compensated by its rapid growth rate.

[jubalix]

Bitcoin fees are nothing to do with the amount being sent.  Had you sent a $10,000 transaction with the same number of inputs (probably one or two in this case), you would have had the same fee.  Bitcoin transaction fees are about the size of the transaction in bytes.
If you're concerned and you particularly need to send a smaller amount, you could just:

-Set a lower fee (one that will still get confirmed eventually)
-Use a transaction accelerator with a low-fee transaction
-Use a SegWit-compatible wallet such as the Ledger hardware wallet to send SegWit transactions and reduce fees.

....

fee =f(size of transaction in block/blocksize)

[eaLiTy]

now i make a transction For 9$ i pay 3$ fee in blockchain.info
shapeshift charged me to change 20$ from ethereum to bitcoin 10$. 50% commision ! nasty greedy company.
the fees in bitcoin are way higher than banks

Right now the transaction fees are crazy and if you are using an online wallet it will hit you deep in your pockets if you are sending a small amount of coins,it was running really smooth after the August fork but things changed drastically when bitmain stopped accepting segwit blocks and so is the reason we have to shell out more fees at the moment and i really hope that it will change,if not it is a pretty fucked situation we have at the moment.

[virasog]

Huge fees keep most people from dealing in the blockchain and that's a good thing.
Most people don't know the proper way to construct through TX and that's why they're dealing with huge fees. And that's just fine. It separates the men from the boys. Anyone that doesn't know how to construct their own Ash sign them off verify them and send them to the network it's to not be dealing with Bitcoin now.

[nrvasquez]

yes. it's because the queue is getting bigger. now more and more days are using bitcoin and transactions are also more and more, so the queue and the fee is also getting bigger.

[Akash1243]

I do think that transactions fees is going crazy high but I think it's fair as bitcoin's price has increased like anything from $900 to $4800 this year.But those who do micro transactions would be the only ones to be affected as for $5 transaction to pay more $5 would be insane but for transactions for like big as 1 btc it is easily negligible transactions fees.Miners should get something profitable mining from Bitcoins so that they can stick to mining bitcoins.