Why bitcoin transaction fee keeps increasing?

[janje]

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[buahkudu]

Why do bitcoin transaction costs continue to increase?
the likelihood of the number of coins in circulation at this time continues to increase and bitcoin has been in great demand by the public, so that possibility is one cause of the increased transaction costs of bitcoin.

[airdnasxela]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Hmm, I think there is a factor why the transaction fee increased and that is the amount of the money you are transacting.  If it is a large amount,  then definitely the transacting fee is bigger and the same goes with low amount of transacting money directing to lower transacting fee.

[aiviaa485]

maybe the nominal Bitcoin you transacted over the transaction at the beginning.

because I used to move Bitcoin from Bittrex to Binance around 50,000 satoshi.

the same thing with Bittrex to the local market in my country, his fee is 50,000 satoshi.

[RakknRoll]

The reason behind why bitcoin transaction fee keeps increasing because of the changes of the business environment every time and also
because of the law of the demand that happen during the changes occurred, in short because of not everything in the business is stable to function well.

[TommyAMD]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Because bitcoin is increasing also why does bitcoin increase and the fee stay the same? that does not make sense and people want to make money out of their clients too that is also a big problem that the feeses are increasing

[bitvalak]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Because bitcoin is increasing also why does bitcoin increase and the fee stay the same? that does not make sense and people want to make money out of their clients too that is also a big problem that the feeses are increasing

according to what I know, the fee depends on the block size and the number of transactions in bytes. It is also influenced by the amount of miner. So I think that's normal.

[kauban2018]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Hi!
Before you transact you need to review the money that you will going to send because every transaction fees depend on the money sent. Maybe you don't know that trnsaction fee is not constant it will always depend and change depend on the value sent.

[poisonivy77]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

  I think the reason why many bitcoin transaction fee increases is because of the demand it gets and also having a great amount to convert would surely require much transaction fee it is directly proportional.

[poletando]

it because there are many queue in the transaction that need to send, so I think it makes the price of the fee is increasing because of that queue and I think if you want to make your transaction be the priority you need to pay extra fee amount to make your transaction become priority

[kendra1107]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Aside from the transaction size, we could probably include two other factors: higher demand and decreasing supply.

The relationship between supply and demand is a common principle in this kind of system. As demand increases and supply decreases, price will increase. We could assume that fees would be the same due to this reason.

[Wahyud11]

it happens because more and more transactions bitcoin delivery, while those who transact with the highest cost will be prioritized and transactions more quickly, thinking someone expensive is not a problem as long as the transaction is fast.

[bohtrung3]

This is also possible by basing the small amount of Bitcoin we try to transfer so there are so many high transaction costs and vice versa.
Before we do it also makes trading conscious know their transaction fees are very high at this time sekrang, but this all depends on the bottleneck when we make transactions, in other words, the number of transactions changed at a time.

[Cloak1]

There are several cryptocurrencies which are very similar to bitcoin, but their price is much lower. I guess this is primarily due to bitcoin having a big first mover advantage. Bitcoin pioneered the cryptocurrency movement and therefore has the most mindshare of all cryptocurrencies. It leads to more trust in bitcoin than any other cryptocurrency, and therefore more demand, more usage, and higher price.

[Wahyu aep]

that's why you get much higher cost over time, and starting today the price is quite low now and maybe your transaction costs do the same, we all have something in general actually we all have the same situation, the price is very current fluctuates, Because many people use bitcoin for transactions and demand in the market has gone up. If we conduct high-value transactions, transaction costs are also high.

[Manchumichael]

Hi guys,i just wanna knows that why the transaction fee for bitcoins is increasing everyday.Some days before i send bitcoin to a trader the fee was 0.0005btc but yesterday i repeat the same transaction same amount then the fee was 0.0006 btc.

Please correct me if i am posted in wrong section.

Hmm, I think there is a factor why the transaction fee increased and that is the amount of the money you are transacting.  If it is a large amount,  then definitely the transacting fee is bigger and the same goes with low amount of transacting money directing to lower transacting fee.

Mate when OP created this thread that time the network was too busy and lacks transactions are in the queue that is why the Miners charged a high fee but now everything is fine with the low fee we can do the big transaction and even if you choose primary fee also it will take less amount.

[Abigail Asi]

I think the reason why bitcoin transaction fee keeps increasing is its increasing nature of the price hence increasing its transaction fee too.

[rameshrajan1000]

It's no surprise. Every day, the value of bitcoin will high, and the bitcoin transaction fee will also high.

[semarm3sem]

Fees will continue to increase.
For a "fee market" to evolve, there needs to be demand and suppliers. But there is only a fixed supply.
If fees get high, there's no way for miners to say, "Oh fees are high, we should mine more blocks or larger blocks to capture these fees". So fees continue to increase because demand is just slightly higher than capacity.

[Yantoaja]

Ordinary his shipping transaction costs depends on the number of people who are doing transactions at that time, if it is crowded then the transaction costs will increase and when it is quiet then the cost will decrease. Sometimes also every transaction objective affects the transaction costs.