Bitcoin huge fees

[RawDog]

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.

[pikebu]

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

Yea the huge fees of transaction bitcoins is big problem from couples years ago until today even the activation of segwit on bitcoins network had done, this problem still can not be fixed, the best solution of this problem now never use bitcoins for small number of transactions and let's wait for the activation of segwit2x. Maybe it is really help.

[Vishnu.Reang]

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.

Sad to hear all this. I have remained loyal to Bitcoin till now. Even when Bitcoin Cash was introduced, I supported Bitcoin and till now I haven't claimed by BCH coins. But the core is continuing to ignore the scaling issues. No permanent solution is in sight and my confidence in Bitcoin is waning.

[suvo05]

Yes bitcoin transaction fees are are compared to low transaction but you you sending big amount then transaction fee is ok compared to bank. And now days more than the digital money btc is becoming a good valuable digital assets so transaction fee is ok in my opinion.

[SonOfNorth]

Yes bitcoin transaction fees are are compared to low transaction but you you sending big amount then transaction fee is ok compared to bank. And now days more than the digital money btc is becoming a good valuable digital assets so transaction fee is ok in my opinion.

While you are right, what sort of consolation should I find in millionaires sending money cheaper? I'm not moving massive amounts of money, so percentage wise the fees are atrocious for me. If you're moving large amounts then the fee being $10 or $50 becomes a worthless debate in the first place.

[LindaQ]

Stop complaining, just send larger valued transactions to take advantage of the platform. Instead of transmitting 10$ transactions, transmit 10,000$ transactions like everybody else on the [Suspicious link removed]e on, get with the program!

Most complaining about the large fees every transactions. This happen transactions fees become expensive because of the bitcoin value is rising. But some said and hope it would be corrected. Well, let's see and hope then.

Yes, I think the large fees are very important to discuss. You've said this happen because the bitcoin value is rising, but What I know, if more people in the world are using bitcoin, the price will be more expensive but the transaction fee are become cheap, because there's a lot of transaction will happen. am I wrong?

[pugman]

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

The fees is damn high and I dont know how much time it will take for this to get solved and how long the dev team will take to answer people's  queries ,correct me if i am wrong. I dont know whether or not this will cause bitcoin to go down, or turn towards ethereum instead of bitcoin,but most probably before things get worse this should be solved.

[nrvasquez]

I think that's a natural thing because now the volume of bitcoin transactions per day also increased rapidly. so they will charge a larger fee for maintenance fees.

[Celsiuss]

Fees have nothing to do with the transaction amount. You can specify whatever fee you'd like. A lower fee have higher confirmation time. I like using https://bitcoinfees.21.co/ to check what fee I want to use. Great tool.

[stompix]

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.

There is only one problem.

If you want to buy the same stuff with altcash, you simply can't.
There is one coin that is used for 99% percent of the world of crypto and that is BTC

Altcash is cheap because they have less than 100 tx per block on average.
Let's see what happens when they reach their limit also. As they have nowhere to go from that.

And look how cheap is to spam a block:
https://bitinfocharts.com/bitcoin%20cash/block/484206/000000000000000006ccaf76879092c8ebb351bd765abbd7de7b3c8f31c2d4e2
60$ to fill a 2M block

[genesis.vision]

Fees are too high for normal transactions, today you have to pay around 1.5 USD to get your transaction included in the first block. Bitcoin scalability should be improved, something like Lighning network is needed to create sidechains - Ethereum is heading to a soft fork of Plasma, which will basically allow to scale it, Bitcoin should not lag behind, too.

[AGD]

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

[Astvile]

Fees are high because of traffic and priority on blockchain network,fees makes miners and bitcoins itself alive for years so dont worry about the fees and just support the bitcoin technology

[Basmic]

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?

[alyssa85]

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?

Exactly. And those who have accumulated a lot of small inputs thanks to tips, micropayments, gambling wins and whatnot are the ones who are getting hurt by the fees.

If you are moving coins from exchange to exchange, then use an alt to do so, it reduces the congestion on the bitcoin network. If you are moving coins from your own wallet, I recommend doing so in the early hours of Sunday morning - for some reason at that time of day, there arn't many transactions and you can move coins quite cheaply.

[emberbekas]

Some exchanger has a fixed transaction fee and it's a bit too high. Nowadays, it'll be worthless if we send only small amount of bitcoin from such exchanger. For best experience it's good to have some money at our own wallet so whenever we want to make small transaction we can put our own fees in it. And don't forget to always check this https://blockchain.info/unconfirmed-transactions before making the transactions.

[ASHLIUSZ]

Fees are high because of traffic and priority on blockchain network,fees makes miners and bitcoins itself alive for years so dont worry about the fees and just support the bitcoin technology

Price increases along with the increase in the price of bitcoin. Right now too the transaction fee doesn't seems that big, the block size increase too is an reason for the increase in the transaction fee. Also compared to those days of large volume of bitcoin getting stuck to the network right now the transaction is much faster.

[hich_ang]

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

[RawDog]

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.  

[1L0v3]

But the problem with this is most people need to use it for low volume transactions. Fees right now are upwards of 5% on small amounts under $100. This is simply unacceptable... needs to get fixed asap!

Core's vision for Bitcoin does not include a fix.  Not ASAP, not ever.  It was intended that the fees be very high.  That is called a 'fee market'.  Didn't you understand all the anti-Core writing before the SegWit change?  Bitcoin Cash is for very low fees and no delays.  Bitcoin Core is for settlement transactions related to the proprietary Lightning Network.  Get ready to pay fees to Blockstream company owned by AXA.  They are your new bank!!

Everyone thought the activation of SegWit will be the magic solution to all our scaling problems, but they were wrong.

Not 'everyone' - Only the idiots that don't understand the network thought that.  We knew a very long time ago that SegWit does almost nothing for capacity.  SegWit only sets up the network so that Blockstream can privatize the 'off chain' portion and charge you banking fees on that.

SegWit does support larger blocks. Some miners are now mining larger blocks as a result. It also paves the way for the lightening network which helps speed up transactions and drastically reduce fees.