jcarlo
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November 19, 2018, 07:22:00 AM |
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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 dont have a lot transaction using bitcoin. I am keeping my bitcoin in exchanger wallet because i can trade with easily. Maybe the fee getting higher because bitcoin transaction in market getting higher than before |
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Lunalionn
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November 19, 2018, 07:42:19 AM |
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Yes, bitcoin transaction fee is getting higher and higher because the cost of mining is higher than the price in the market.
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riso2015
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Trphy.io
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November 19, 2018, 08:02:59 AM |
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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 dont have a lot transaction using bitcoin. I am keeping my bitcoin in exchanger wallet because i can trade with easily. Maybe the fee getting higher because bitcoin transaction in market getting higher than before In my opinion this is because an increase in transactions in the network of Bitcoin so the Miner would take a higher fee as first transfer than a small fee. I also rarely transactions with Bitcoin, because I like to save for the long term. |
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blockoption
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November 19, 2018, 08:16:13 AM |
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I have never experienced it, and I think it may be because of the large amount of value or it's because of the different transaction destination factors from one market to another, and the amount is quite large for transaction costs.
yes you are right that it depend on types of transaction i means that now a days the price of bitcoin is really increases and thats also the reason that the fees increases in transaction. I didnt see the change, i still charged 0.0005 btc fee  |
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yesyoupump
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November 19, 2018, 10:50:53 AM |
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I have never experienced it, and I think it may be because of the large amount of value or it's because of the different transaction destination factors from one market to another, and the amount is quite large for transaction costs.
yes you are right that it depend on types of transaction i means that now a days the price of bitcoin is really increases and thats also the reason that the fees increases in transaction. I didnt see the change, i still charged 0.0005 btc fee The fees are very low now. To reduce them you should send your btc during low traffic time. Have you ever tried to follow this criteria? |
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syntac
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November 19, 2018, 11:00:29 AM |
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indeed that is the reality, because the progress of bitcoin is very good and good, so bitcoin is very popular to be used as the application of world virtual transactions in time. so far the wheels of society's economy have greatly increased because of bitcoin.
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Ethan Argu
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November 19, 2018, 01:25:08 PM |
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Indeed, everyday bitcoin fee is imcreasing and I think ut will invrease everytime the bitcoin peak is in the highest level. It depends on how much the bitcoin is, to be exact.
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lyks15
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November 19, 2018, 02:08:27 PM |
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I think bitcoin transactions fee are continously increasing because agents wants to earn more because even if the convenient fee will increase people are always choice go buy or to pay bitcoin in any paying agents so the agent will take the opportunity to earn. Then the other side is political or government matters. Government will put more taxes to the agents who will accept bitcoin payment transactions so the agents or company will have no choice to mark up the transaction fees that we pay in every bitcoin transactions. But it's ul to you on how you manage and to earn we have a high transaction fees.
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SaveOurSea
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November 19, 2018, 02:14:32 PM |
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I have never experienced it, and I think it may be because of the large amount of value or it's because of the different transaction destination factors from one market to another, and the amount is quite large for transaction costs.
yes you are right that it depend on types of transaction i means that now a days the price of bitcoin is really increases and thats also the reason that the fees increases in transaction. I didnt see the change, i still charged 0.0005 btc fee The fees are very low now. To reduce them you should send your btc during low traffic time. Have you ever tried to follow this criteria? because the fee uses a percent system that depends on the price of bitcoin, so if the price of bitcoin rises then the fee will also rise and vice versa. |
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Coinraptor
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November 19, 2018, 02:54:26 PM |
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Due to the extreme use of bitcoin all over the world and bitcoin has a huge demand nowadays. If your amount is big to transaction its fees can be measured by that size of the amount that I think. Even maybe the cause of transaction fees keep increasing because of bitcoin is used for making different types of the payment transaction.
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RiskySanchez
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November 19, 2018, 03:47:26 PM |
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because of the increasing number of transactions on the same day, which makes the fee increase and it all depends on the exchange rate of bitcoin. all coins even if the overload fee will increase too
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yesyoupump
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November 20, 2018, 06:52:20 AM |
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because of the increasing number of transactions on the same day, which makes the fee increase and it all depends on the exchange rate of bitcoin. all coins even if the overload fee will increase too
Excactly. This is also due to the hashing power war that floods the blockchain. We have to wait... |
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Olayinka225
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November 20, 2018, 06:09:57 PM |
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This is most time caused by lot's of clogged unconfirmed transactions. Many times the transactions cost will definitely increased untill the waited unconfirmed transactions is confirmed, then the fee might stabilize again.
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fulmetal08larz
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November 20, 2018, 06:35:05 PM |
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Network congestion is the most probable cause of increased transaction fee nowadays. During the hype, people have FOMO some time in November to December 2017, the transaction fees were insanely high due to many people are trying to buy. Now, people are selling most of their BTC holdings due to fear of BTC price going further down below $1500.
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kATETom
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November 26, 2018, 09:46:31 AM |
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i never worry about the high transaction fee. I just care about the security i have in each transaction.
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H1N1
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November 28, 2018, 01:57:41 AM |
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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. If you are using ETH aside btc, you will experiencing the dynamic transaction fee in ethereum network ( gas fee ). The fee amount will depends on the network congestion. If there are many transactions waiting to be processed, then the fee will go higher. I think it will be the same for bitcoin network as well, not everyday is increasing. |
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denzkilim
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November 28, 2018, 02:17:13 AM |
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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 dont have a lot transaction using bitcoin. I am keeping my bitcoin in exchanger wallet because i can trade with easily. Maybe the fee getting higher because bitcoin transaction in market getting higher than before In my opinion this is because an increase in transactions in the network of Bitcoin so the Miner would take a higher fee as first transfer than a small fee. I also rarely transactions with Bitcoin, because I like to save for the long term. He/She posted this thread on November 2017 when the price of Bitcoin is skyrocketing to the moon and he/she is telling why the price is increasing is because the value of Bitcoin is increasing too on that particular Month and Year. For example, if you're paying a fee of BTC0.001 Satahoshi's for a transaction to proceed at November 2017 where the price or value of 1 Bitcoin is playing around $10,000 dollars the equivalent value of the transaction fee is approximately $10 dollars and if you are paying that kind of fee at this particular moment where the price of Bitcoin has fallen down to $3,800 dollars the equivalent of BTC0.001 fees that you'll pay for the transaction at this moment will be around $3.8 dollars and I do really think that this is what the OP wants to point out.  |
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tranthiky
Jr. Member
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November 28, 2018, 02:46:46 AM |
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Bitcoin fees will increase if there are too many transactions at once. They will set their rates at a priority level, which will increase passive fees. This causes the bitcoin network to overload and sometimes it will cause your transaction to be "delayed" when you choose low transaction fee. So, be really happy when you pay a higher fee to make the transaction faster.
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ardhigalau
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November 29, 2018, 03:32:36 AM |
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Maybe you choose priority transactions, so the fees are expensive, try a low fee, but it results in the length of time that bitcoin reaches the recipient.
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DarkIT
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November 29, 2018, 05:03:40 AM |
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Maybe you choose priority transactions, so the fees are expensive, try a low fee, but it results in the length of time that bitcoin reaches the recipient.
you are right, it depends on the fee that is issued, the greater the fee that is issued, the faster the transaction. well, this is not much different from using gwei on ETH transactions. |
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