Lower transactions fees now? Bitcoin is back it is!

[batang_bitcoin]

...What about xapo now, is someone still using xapo here? They adjusted the fees now?

XAPO and all other similar services are third party and they choose whatever fees they like. and now that they have gotten a taste of some additional profit because of taking fees from their users i don't think they will change their fees. although you have to ask them. go to their support page and make a new ticket or contact them via Email and demand lower fees.

No, I'm only asking if there are some changes on their fees as blockchain.info fees are now lowered and other web wallets. This will kill their business if they will not adjust with the fees as the network fee requires only smaller fee. Even if I'll contact them but it's their final decision to stick with their fees, we can't do something about it as it is their business.

[Singbatak]

Yes, today's transaction fees are low. This is because of the collapse of Bitcoins. And if it continues it looks like it will return again as before. But I think the bitcoins will not fall further. The sudden collapse of bitcoins is just a panic selling of people who do not know what's happening. So if it's halted the rise of Bitcoins is coming back and going up again. And it may still be another All Time High. But it's really a big advantage for traders because they really will be profitable.

[Sithara007]

Right now, the number of unconfirmed transactions stands at around 5,000. And this means that even those transactions paying a fee of 1 Sat/Byte can get confirmation in a few hours time. But there is no guarantee that the fee will remain low in the medium term. No one knows when it is going to rise again.

[Granxis]

Indeed, the number of unconfirmed transactions has declined considerably, so I think it will be worth $ 4,000 this week. The less transfer fee was something I always dreamed of.

[szpalata]

Indeed, the number of unconfirmed transactions has declined considerably, so I think it will be worth $ 4,000 this week. The less transfer fee was something I always dreamed of.

Well it's gradually recovering and hopefully like you said by the end of the week we should be above the 4k$ threshold and regarding the low transaction fees I think the real impact will be felt when the segwit x2 is activated in November with the blocksize actually increased to 2MB.

[freedomsr40]

Transaction fees are also sometimes a result of calculation policy of wallet providers.

To reduce number of user complains and assure the transfer to go through, they use normally the average past fees + a certain percentage model; if several large wallet provider use the same model, the fees can be pushed higher for nothing...

[Pejoh Asu]

yes I'm happy with this news, I some times sending bitcoin with xapo and for priority the cost about 92k, formerly is 220k, I think bitcoin sending cost should be cheaper than bank transfer.

[severaldetails]

The low fees are an effect of the mempool that is not overflowing with transactions at the moment.
The spam waves we had during the past months seem to have ebbed away.
Why that is the case I have no clue.
Maybe they just ran out of money because of the price decrease we have seen last week?

[TheGodson]

I've done some transactions using blockchain.info and the fees have always been low from my experience. I prefer using an established website over software that I have to download to my computer.

There are some really smart people working on Bitcoin and always improving it. Also, they never rush things which is smart. They are always looking at potential mistakes and seem to upgrade Bitcoin without having some error that makes it fall apart.

[logicgate]

True, but it won't last forever if bitcoin adaption keep increasing but bitcoin never receive another upgrade/BIP. http://bitcoinfees.21.co/ even say fee from 1-30 satoshi/byte can be confirmed in 1-2 next block after you broadcast the transaction which is nice

You are right fees have been high in last few months and that stabled for a long time. What we are seeing now is a temporary sort of buzz that will not retain for a more time. Exactly the rate of 1-30 satoshis/byte is quite amazing if is happen. We wish that stay for last.

[Mpamaegbu]

The low fees are an effect of the mempool that is not overflowing with transactions at the moment.
The spam waves we had during the past months seem to have ebbed away.
Why that is the case I have no clue.
Maybe they just ran out of money because of the price decreases we have seen last week?

I worry stiffly that the era of backlog of transactions and high fees are not yet over as it looms that the Chinese government may also ban mining in that country. China is known to have the highest number of miners because of its cheap labour and electricity. If this happens that means shortage of miners would be the outcome. Shortage of miners would mean more demand. And we all know that demand sets the price of any transaction. It isn't yet Uhuru (Freedom).

[FLoving]

It seems that Bitcoin is back to wherever it is before and I really don't know what happened, can anyone tell me please. As I thought that the downfall of bitcoin will be resulted of too much transaction that will be done of the panic sellers but it seems the reverse happens, I just sent my transaction with a $0.01 worth of bitcoin within 25 blocks and I can also choose to send it within the next block for only $1 worth of bitcoin. Any thoughts?

i think its because bitcoin price has dropped so much as a result the fees now is also friggin low and why many people liked it including you,  but honestly i prefer higher transaction fees as long as the bitcoin value is high also because i can earn more on my invested bitcoins rather than a low transaction fees but a low value btc.

Low transaction fee is something which all the investors who are investing in Bitcoin demands. I think they will be very much happy and will be satisfied by this. This transaction fee is something which needs a little attention and it will be under control after this. So far, things will be good till the time the transaction fee are low.