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Author Topic: Why bitcoin transaction fee keeps increasing?  (Read 1522 times)
Desscount
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July 04, 2018, 08:24:49 AM
 #201

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. Smiley


now the cost of bitcoin transaction has returned to normal, yes I heard from a friend of merchant. in this decrease in activity increase unlike post-growth last year.
I think every transaction fee will follow with its growth

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July 04, 2018, 08:32:20 AM
 #202

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. Smiley
The transaction fees increases and decreases with the amount you are transferring and the value of bitcoins...So what do you mean by same transaction actually.
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July 04, 2018, 08:39:16 AM
 #203

that's playing fee on BTC because people like and invest in btc up in everyday
then if your transaction is different, it's common thing
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July 04, 2018, 08:43:35 AM
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As market and network utilization vary all the time it is impossible to have the "same" transaction Smiley

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July 04, 2018, 09:10:32 AM
 #205

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. Smiley

May the exchanger is the one who give you that much fees. This problem are now solve, i see it on my last transactions its kind of surprising that the bitcoin are now so low compare from the past months.

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July 04, 2018, 09:31:49 AM
 #206

The increase in bitcoin transaction fee could be as a result of network congestion or because of the many unconfirmed transactions piled up on the blockchain ecosystem.

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July 09, 2018, 10:42:33 AM
 #207

Free is only cheese in a mousetrap. Today the world is built on money. All actions, all work have their own price. And so will be in the future. Nothing will change, because of the development of technology in the world.

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July 11, 2018, 07:56:30 AM
 #208

Because it depends entirely on market, price, purchase price and political volatility
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July 11, 2018, 08:14:21 AM
 #209

When the number of transactions is getting bigger and bigger, the more transaction costs, this is for sure. Bitcoin needs a lightning network to improve its trading speed and reduce its transaction costs. Otherwise it is difficult to become a world currency.
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July 11, 2018, 08:37:12 AM
 #210

Last time ago, the transaction fees bitcoin are very expensive so many people who object to this policy. But now bitcoin has lower transaction costs even we can transact with bitcoin without transaction fee. That's what makes bitcoin in the half of eyes, but now that bitcoin is showing innovation and improvements so bitcoin gets a place in people's hearts. Indeed if bitcoin does not make improvements that occur is bitcoin will lose the trust of the community and bitcoin position as the king of crypto currency can be displaced.
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July 11, 2018, 08:55:54 AM
 #211

Because so many exchange  company has come in which fees will be included so that the transaction can take place because many things are involved. At present, research and investment in Bitcoin is relatively common. Bitcoin collectors and trades are growing rapidly. By the rules of supply and demand, Bitcoin trading floors increase transaction fees to make more profits for managers.
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July 11, 2018, 09:02:10 AM
 #212

Bitcoin transaction costs in exchange increased due to demand of traders. There are many people who use bitcoin for small transactions more concerned about the cost. if the bitcoin price is too high then the cost is really good but the low bitcoin price is so bitcoin low so bitcoin just put us in our future so if price increase the bitcoin price big money you can collect
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July 11, 2018, 09:04:45 AM
 #213

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. Smiley

This can be due to the "peak hour" period when you are sending your btc. The system will automatically choose the highest possible rate for sending. In another words it can also be the fact that there are more crypto user.
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July 11, 2018, 09:24:54 AM
 #214

You probably misunderstood what interest is. It's more like a normal transaction size. Or is it due to some network latency, network interruptions were that day?

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July 11, 2018, 01:22:11 PM
 #215

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. Smiley
As far as I know and also I can be wrong that right now the ethereum blockchain been attacked with the hackers and this increases the gas price significantly. So maybe the matter is in demand?

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July 11, 2018, 01:42:32 PM
 #216

The a regularly expanding number of unconfirmed trades on the blockchain organize the higher charge would be required for you to send in typical certification time. check blockchain.info and bitcoinfees21.co to see what sum would you spend on costs and to what degree would it take. I might want to use blockchain's wallet since you can re-try your charge.
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July 11, 2018, 01:55:49 PM
 #217

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. Smiley
because bitcoin is unstable so if the price is increasing the fee should increase too so bitcoin can gain profit too not only people

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July 11, 2018, 02:17:00 PM
 #218

Yes bitcoin transaction fee will go higher and the mere reason is the increase of market price for bitcoin. As we all know that in cryptocurrency especially those local exchange had collecting percentage on the money getting involve in the transaction. The bigger amount of crypto being transacted the bigger crypto transaction fee will be collected. And it will be opposite also when bitcoin market price will go down. It could also mean that trnasaction fee will go down also.

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July 11, 2018, 02:24:23 PM
 #219

Yes bitcoin transaction fee will go higher and the mere reason is the increase of market price for bitcoin. As we all know that in cryptocurrency especially those local exchange had collecting percentage on the money getting involve in the transaction. The bigger amount of crypto being transacted the bigger crypto transaction fee will be collected. And it will be opposite also when bitcoin market price will go down. It could also mean that trnasaction fee will go down also.

I agree about what you said above that the reason why the fees of bitcoin is increasing because of the market price. It totally depends in there because we all know that the value itself is changeable and unstable, that is why it will totally make the fees increased.
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July 15, 2018, 10:16:27 AM
 #220

The transaction fees depends on a  number of factors in addition of the amount being sent. For instance, if the traffic is congested, you have to pay more.
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