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Author Topic: $13 fee to transfer $600 in bitcoin  (Read 375 times)
nikhil0416
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November 13, 2017, 11:43:01 PM
 #1

My bank can do transfer money for free. Damn
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emuLOAD
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November 13, 2017, 11:44:29 PM
 #2

just get rid of all these cumbersome bitcoins, I'm sure people will be very happy to take the pain away ^^
cryptjh
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November 13, 2017, 11:48:20 PM
 #3

Those fees will kill bitcoins. And your fees seem much lower than other fees I have seen today.

I have no idea how this work, but I hope those miners who curses those high fees will be blacklisted from the blockchain soon.

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nikhil0416
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November 13, 2017, 11:50:57 PM
 #4

Those fees will kill bitcoins. And your fees seem much lower than other fees I have seen today.

I have no idea how this work, but I hope those miners who curses those high fees will be blacklisted from the blockchain soon.


Well Coinbase is automatically adding such high fees to transactions without giving any options to set fees for their customers.
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November 13, 2017, 11:51:36 PM
 #5

Yeah, we need lower fees!  Embarrassed

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November 13, 2017, 11:52:40 PM
 #6

This is very disappointing. Lack of miner is the reason behind this. I heard Roger Ver has a negotiation with large group of Chinese miners to abandon Bitcoin (BTC) and mine Bitcoin Cash instead.

My bank can do transfer money for free. Damn

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drm
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November 13, 2017, 11:56:13 PM
 #7

That's not that bad when you compare it to a lower value transaction. Like when you want to pay someone a tenner or 20.
But I agree, btc can't compete as a currency like this.

javadsalehi
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November 13, 2017, 11:56:36 PM
 #8

This is very disappointing. Lack of miner is the reason behind this.

My bank can do transfer money for free. Damn

Yes. Lack of miners. But there was no problem till 2 days ago. Where are those miners who were mining?

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jc89
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November 13, 2017, 11:58:54 PM
 #9

My bank can do transfer money for free. Damn

Then sell all your Bitcoins and go back to the traditional fiat monetary system. We've seen this coming. Over time, the fee for transactions in Bitcoin has been continually increasing. I admit that this is not practical at all. Hell, we need much more lower fees. However, due to some greedy miners out there that somehow manipulate the transaction processes, there is no option but to increase fee. It is also caused by the current attack on Bitcoin's blockchain. They are clogging Bitcoin with numerous micro transaction requests. Thus, in order to make our transaction faster, we have to increase the fee.

This will all stop when the attack stops and will be prevented when Bitcoin starts to scale.

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nikhil0416
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November 14, 2017, 12:04:06 AM
 #10

My bank can do transfer money for free. Damn

Then sell all your Bitcoins and go back to the traditional fiat monetary system. We've seen this coming. Over time, the fee for transactions in Bitcoin has been continually increasing. I admit that this is not practical at all. Hell, we need much more lower fees. However, due to some greedy miners out there that somehow manipulate the transaction processes, there is no option but to increase fee. It is also caused by the current attack on Bitcoin's blockchain. They are clogging Bitcoin with numerous micro transaction requests. Thus, in order to make our transaction faster, we have to increase the fee.

This will all stop when the attack stops and will be prevented when Bitcoin starts to scale.

Oh..Didn't know about the attack. Why can't the experts identify these attackers and do something about it?
crypto_Butterfly
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November 14, 2017, 12:14:44 AM
 #11

That's too much of a fee honestly. Thats the only bad thing I hate about Bitcoin. Roll Eyes

blackcoiner
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November 14, 2017, 12:17:59 AM
 #12

My bank can do transfer money for free. Damn

Then sell all your Bitcoins and go back to the traditional fiat monetary system. We've seen this coming. Over time, the fee for transactions in Bitcoin has been continually increasing. I admit that this is not practical at all. Hell, we need much more lower fees. However, due to some greedy miners out there that somehow manipulate the transaction processes, there is no option but to increase fee. It is also caused by the current attack on Bitcoin's blockchain. They are clogging Bitcoin with numerous micro transaction requests. Thus, in order to make our transaction faster, we have to increase the fee.

This will all stop when the attack stops and will be prevented when Bitcoin starts to scale.

Miner not greedy. They need money to operate their machine...it was very expensive investment on hardware and electricity...
Bitcoin price above 6K...and you cry for 13$?
I do international transfer cost me 300$....

13$ is considered cheap fee. Miner need to pay their bill
Jerry Patterson
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November 14, 2017, 12:20:36 AM
 #13

I am trying really hard to convince myself that paying the high fee to use Bitcoin is worth it Smiley

I hope they scale soon!
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November 14, 2017, 12:20:56 AM
 #14

Is a bad fee but is necessary
coinycoiny
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November 14, 2017, 12:27:26 AM
 #15

Hmmm, wonder why I can't buy a pint in my pub with bitcoin?
usmcvet11
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November 14, 2017, 12:28:52 AM
 #16

whoever said btc was made to compete with physical currency?Huh? make sure your correct with what your saying people want it to compete with banks and what not, that's not the philosophy of btc and furthermore, if you are spending it thats fine if you are just transferring it around why??? your saying its free to transfer online yes with your bank but your money still gets taxed from the Irs when you get it and when you spend it and on that amount the tax would be way more then 13 bucks so i dont see a problem here
faithupgrade
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November 14, 2017, 12:32:19 AM
 #17

Aside from lack of miners, there are also difficulty from confirming 200,000 stucked transaction. As there are some evil and selfish people who flood the BTC blockchain to discredit Bitcoin.

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kriticko29
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November 14, 2017, 12:36:31 AM
 #18

Man fee's are nothing compare to your profit. How can you achieve what ever goal you set if a small fee is already too much for you. patience is the start of being reach so wait bruh.

cryptjh
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November 14, 2017, 12:42:17 AM
 #19

Is a bad fee but is necessary

how can that fee be necessary, miners already have near too endless computer power, they are paid more than 12 bitcoins every 10 min, that should be more than enough to make profit, miners says it cost around 1000$ to make one bitcoins, they can sell for 6000$

If this keeps going, sending any amount of bitcoins will soon be 0.1 bitcoins.

Its greed that drives those fees and its  seems like bitcoins are also under attacks


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drm
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November 14, 2017, 12:45:30 AM
 #20

Man fee's are nothing compare to your profit. How can you achieve what ever goal you set if a small fee is already too much for you. patience is the start of being reach so wait bruh.

It's not necessarily about the fee's you have to pay, it's "just" 13 bucks (which is still a lot for a tx of course). But it illustrates btc can't compete with other payment systems right now, if ever.

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