Bitcoin fees make me angry

[1NV3ST0NM3]

What the hell ?

And you wanted to earn and not earn on you. Well, there is no price at the height of the prospect is, then the fees can be made good. And there is your business whether you should pay them or not. But after all, the fee changes with time, maybe you went to not the best time.

The problem due to which we end up paying such hefty amont of fees is that fees is measured by sats/bytes units. Even after transaction compressing and segwit we are still not able to reduce the size of transactions to such an amount which is bearable as fees. Lightning network proposes a better idea to reduce fees however this idea will also give a flop show with continued increase in fees.

The best idea? Here on the forum I read suggestion of a person who says that fees must be kept as a percentage in fiat. Well this idea suits me a lot if only miners are ready to accept it. Because it will make their earning stagnent. Believe it or not bitcoin is now being run by authority of miners and there number is so low that the system end up being quite central. This is my suggestion to reduce the fees or else it will make BTC an asset used for investment purposes only.

[Qartersa]

Well yes, you have a point in there. But you know, the level of difficulty in mining Bitcoins has been at the edge lately because of increased Bitcoin demand. The increase is just so much for the miners to handle given the fact that the latter would need to invest in more innovative computers or software that will make their mining business feasible and at par with times. Also, brought about by the increased demand, comes along increased electricity bills. I guess all these factors were put into consideration by Bitcoin miners.

[TheGodFather]

What the hell ?

Just like taxes i think that these are not helpful to us jowever I see the necessity of it. If we can still compare we are still gaining something even if the costs are surgingg steadily however if it comes to an unreasonable rate then I think that that is hhe time to end it

[A1exander]

Yes, the fees are high. I've transferred some of my coins to new addresses and payed a few $ for a simple (one input, one output) transaction. It does not seem high when one is transferring large amounts equivalent to thousands of $ or more, but for day-to-day transactions it's absolutely unacceptable. The original idea of bitcoin used for habitual payments is long dead. Bitcoin now is a sort of 'digital gold', and paying with BTC for coffee is as ridiculous as paying with a gold bar.

[kier010]

today fees gets higher as bitcoin value increase. better use altcoins for trading in other exchange site. well this is still business they want to earn too.

[carodupuis]

What the hell ?




it's way too much . i pay higher on fees than the amount i'm sending to people
and i work a lot with bitcoin on small amounts..

The solution for this is: pay using ETH , then convert it to BTC using changelly.
What a great site is changelly! brings al ot of value.

This looks to me a simple way of promotion. I think you are one member of changelly or a paid advertiser using posts here in the forum. The fees that bitcoin is asking in each transaction is getting really high. We have been experiencing this for some time already. That is why many people would advice not use bitcoin in small transactions such as buying a cup of coffee. But if you are determined to use it for such transactions, then you also have to accept the high fees.

If it is true that bitcoin transaction fee are all equal, big or small, this should be a serious problem for the users. Because this technology is intentionally made to divide into 8 digit digits, to be obtained in small quantities. But if the transaction fees of bitcoin in large quantities is equal to small (Equally high) it means more bitcoin is for large transactions. While small transaction, will harm users.

We are claiming that bitcoin is a online currency through which we can trade anything, online. It is also expected that we will very soon become able to use bitcoin in our local area, but in fact it has now become difficult with the increasing price of bitcoin to use it for trading small and daily trade use items, because of the increasing transaction fee. We even pay more transaction fee than the item price, which we want to buy using bitcoin.

[Zebra.Guy]

Wow 4,50 each transaction, that is so high mate, but the fees were not so high a few days ago, i dont understand why it is happening. Well, maybe it is because the difficulty of mining has increased to 21% in the last few hours, but it shouldn't change the fees. Maybe the miners are so congestioned and they can not proccess that payment and this is why the fees are so high.
Anyway, i sent a payment yesterday and it only costed me $1,20, and it got confirmed in 20 minutes.

the reason behind those fees, as I am seeing it, is that a lot of people trade their bitcoin. The price is 15k at the moment so a lot of sales are happening, the same congestion (currently there are 140.000 unconfirmed transactions) was there when bitcoin hit 10.000 dollars. It may be like that for a few days unfortunately.

And the congestion makes fees higher

[Mr.grin]

today fees gets higher as bitcoin value increase. better use altcoins for trading in other exchange site. well this is still business they want to earn too.

you are right. but this price increase keeps the altcoin price down too. for example occurs in eth. although the price in usd is not so down, but in the form of bitcoin, the price will go down.

[tanghere1]

It's a real bummer the small transactions will greatly affected by the huge fees. Bitcoin is almost $15,000 usd as of now, that is the reason why the transaction fee is so high.

[krulviper]

i'm really feel it, i angry when i want to make transaction with bitcoin, my fee bigger than what i need. i think using eth willl be a good choice :3

[jinksters09]

Holy crap that is huge I mean talk about serving a high transaction fee. As the price goes higher you mean the higher transaction fee also gets talk about making a profit for themselves.

[Rajatruck]

main problem of bitcoin ...

[Memenya]

The more bitcoin increase in price so more increase also the fee. I remember that.
I will feel the same too if i am you,  sent small transaction with such kind of fee. Oh my god.

[Prettyme]

What the hell ?

Yeah right. As you can observe as bitcoin price grows the transaction fees getting higher also. I don't think so if I will be great with what bitcoin result or become sad. There is happiness that bitcoin will grow because you can gain a lot of profit but I feel sad because transaction fees is getting higher also and many greed people is always been motivated to scammed innocent people.

[emberbekas]

i'm really feel it, i angry when i want to make transaction with bitcoin, my fee bigger than what i need. i think using eth willl be a good choice :3

This is one reason why bitcoin will be hard to be accepted as a means of payment. People can buy goods at higher prices because of the fees they have to pay.

[shezu007]

i'm really feel it, i angry when i want to make transaction with bitcoin, my fee bigger than what i need. i think using eth willl be a good choice :3

No i don't agree with this idea because if we can see the price of bitcoin presently then the price of bitcoin touch 15k$ so if you are doing any transaction and the fee is 2$ then i think its negotiable fee for such a big transaction. while if you can do any transaction in other place then there are big fees as compare to bitcoin.

[CryptosapienZA]

The fees are ridiculous, unfortunately people are currently obsessing about the price and we are negleting this very important aspect. This morning, i was demonstrating to a friend. I have a wallet with 110 USD, so I tried to send 20usd. The wallet said insufficient funds..

[Laurayaki]

why use the btc for transactions? nothing but ETH is much faster and cheaper

[nagatraju]

The fees are ridiculous, unfortunately people are currently obsessing about the price and we are negleting this very important aspect. This morning, i was demonstrating to a friend. I have a wallet with 110 USD, so I tried to send 20usd. The wallet said insufficient funds..

it's incredible...I can't take it...therefore I use bitcoin only as an asset

[quocsi]

Yes, the bitcoin value is higher, the value of the transaction fee is higher. That made me angry. Because I think the fee that I pay is not that value. Where is the profit when it comes to fees?