how can bitcoin survive with 26 USD transaction cost?

[KingScorpio]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs,

how can bitcoin be used if it is more and more undividable, because smaller transactions arent worth it anymore?

introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralised pyramid system.

if someone buys himself a hamburger with bitcoin, he has to pay more than 14 other hamburgers for miners...

bitcoin becomes a currency for large transactions only (rich people), you could worthily transact the payment of a yacht or a building with bitcoin but not smaller things..

regards

[asdlolciterquit]

The transaction cost is a real problem, but dev are working on it.

Just a few question: why do you say there is less trust while btc price is rise again? And why do you talk about a pyramid system? Price can be manipulated,ok, yes...but pyramid system?

[KingScorpio]

The transaction cost is a real problem, but dev are working on it.

Just a few question: why do you say there is less trust while btc price is rise again? And why do you talk about a pyramid system? Price can be manipulated,ok, yes...but pyramid system?

the splits the media attention it looks like a pyramid system to me, the transaction costs are ridiculous. bitcoin looks increasingly like a ressource wasting and energywasting hoax to me

regards

[Hamphser]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs,

how can bitcoin be used if it is more and more undividable, because smaller transactions arent wort it anymore?

introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralised pyramid system.

regards

Same question on the dude above me about pyramiding system? How can you say such thing? because i cant see any pyramiding scheme on this one which i would rather believe on price manipulations. I would believe on the fact that transactions cost nowadays do really suck bigtime because it is not minimal anymore since you would really need to pay up huge or some dollar amounts to make transaction to other wallet. This is why i do decide up to make bulk transactions than on making on micro  because fees will really hurt you up.It is really a stressful thing sometimes.

[Lionidas]

No one wants to spend more on a transaction then what using a competing currency transmitter is charging to send.
Western union doesn't even charge this much to do a single transaction.

That is just insane to pay this much if you don't have too.

Should of used a wallet that allows you to customize your transaction fee even if it does not confirm within the next hour.

That is just not right mate.

[chiggz]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs,

how can bitcoin be used if it is more and more undividable, because smaller transactions arent wort it anymore?

introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralised pyramid system.

regards

This has been the biggest down side of Bitcoin lately. The main aim of hard fork was to reduce the fee and faster confirmation. We should see some developments on this matter. If not it will be impossible to send small transactions and people will start looking at alternatives.

Depending the on the time of the day and network sometimes the fees will be very less. Two days back I had fees of 19 cents.

[KingScorpio]

ok for the last time,

but first beforehand i dont like the national banker pyramid systems either, no one wants to lend from them they cause systematically poverty destroy their economies and make people be less fertile because they are constantly unsecure about their economic future (this is basically destroying their substance). people cant build their dreams in their societies instead they are imprisioned forced to sell their time to pay the rent for some property owning real estate tycon, (just look at hongkong or shanghai if you want to see an extreme case of this) but this is the reality everywhere in the world.

bitcoin is also pyramid system

its the media system, a new coin cant take the attention of bitcoin because the internet media system is not supporting it.

its the manifestation of facts via coinmarketcap,

if coinmarket cap and all mayor crypto media outlets would create a cartel distribute a new coin among each other and then suddenly make a hype around it you would all fall for it, thats how this pyramid around bitcoin works. its all about an established media system,

i share the cryptoeconomics anti nationbanker cartel attidude, but cryptoeconomics is currently simply not robust enough and the flaggship "bitcoin" has transaction costs, that it is only useable for large amount transactions between rich parties, how can bitcoin be popular this way?

you cant pay workers with it, so only the rich peoples belief will in the future keep bitcoins value when they trade their yachts and their rolexes for bitcoins with 50 usd transaction costs, but in that case why should the established rich not just dumb bitcoin the nation banker cartels after all benefit them more than anyone else.

if this continues the current cryptomedia system will rule you and tell you what is valuable and what not, and they are not going to shape a societies economy, they care for themselves

regards

[fiulpro]

Well not jist the transaction cost but the buying and selling rate do shows considerable amount of difference and its very shocking to see figures.. hitting..1000 sometimes... Well I do hope with time the transaction rates will decrease and so will the.. Buying and selling difference
If it doesn't then people will hesitate to make small investments and... Will limit them from entering the crypto market.. Because there are people who desperately wants to..enter.. but can't afford this high transaction fee

I do think there will be and.. Should be a soft forl for this
.for improving this..and.. it will benefit everyone in a big way... Since its usage is increasing so it should make amemds for the genral public.

[Xavofat]

I don't know what wallet you're using, but unless you're sending a very large transaction, its fee estimation is terrible.

Paying less than $1 in BTC equivalent would quite comfortably get your transaction confirmed at current rates.

If you want lower fees than that, feel free to receive coins to a SegWit-compatible wallet in future.  It helps to lower your fees further, and potentially the fees for other people too.

[KingScorpio]

I don't know what wallet you're using, but unless you're sending a very large transaction, its fee estimation is terrible.

Paying less than $1 in BTC equivalent would quite comfortably get your transaction confirmed at current rates.

If you want lower fees than that, feel free to receive coins to a SegWit-compatible wallet in future.  It helps to lower your fees further, and potentially the fees for other people too.

i used jaxx and i love using jaxx and i transfered around 760 euros to an exchange to get rid of the bitcoins

[KwizatzHaderach]

I don't know what wallet you're using, but unless you're sending a very large transaction, its fee estimation is terrible.

Paying less than $1 in BTC equivalent would quite comfortably get your transaction confirmed at current rates.

If you want lower fees than that, feel free to receive coins to a SegWit-compatible wallet in future.  It helps to lower your fees further, and potentially the fees for other people too.

Hopefully SegWit compatible wallets will be implemented soon.
The transaction fees are really becoming atrocious.

[audaciousbeing]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs,

how can bitcoin be used if it is more and more undividable, because smaller transactions arent worth it anymore?

introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralised pyramid system.

if someone buys himself a hamburger with bitcoin, he has to pay more than 14 other hamburgers for miners...

regards

When issues like this happen concerning the exorbitant fees that is being paid on carrying out transactions make it seems that the good old days where transactions are carried out with the payment of cents and it will confirm within short time.

Its also saying that the whole fork process is actually not solving any issue concerning the transaction fees which we  were made to believe before but its just another way some people deem it fit to create a coin and pish to the market without having to do through the lots of process of getting it to maturity.

I hope the developers are really on top of the situation to bring succour to the massive disappointments this is bringing.

[Factmine]

This is really because there is always an attack on the network. I don't think it is this congested to be honest, since when segwit was implemented the network was empty for about a month long. Well, that's changed now, probably because of those attackers, if it is not the attackers then it would really mean it is congested. Probably segwit2x would come back again and say "I told you so" in the near future.

[KingScorpio]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs,

how can bitcoin be used if it is more and more undividable, because smaller transactions arent worth it anymore?

introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralised pyramid system.

if someone buys himself a hamburger with bitcoin, he has to pay more than 14 other hamburgers for miners...

regards

When issues like this happen concerning the exorbitant fees that is being paid on carrying out transactions make it seems that the good old days where transactions are carried out with the payment of cents and it will confirm within short time.

Its also saying that the whole fork process is actually not solving any issue concerning the transaction fees which we  were made to believe before but its just another way some people deem it fit to create a coin and pish to the market without having to do through the lots of process of getting it to maturity.

I hope the developers are really on top of the situation to bring succour to the massive disappointments this is bringing.

i belive the miners will simply not accept any forks because they benefit from the high transaction costs they will make bitcoin a currency of the rich till it will be hated and dropped by the masses, and losing its popularity . bitcoin becomes even more a media spectacle, i would rather love to develop cryptoeconomics,

however bitcoin legacy will be a direct assault on the national bankster cartels at least thats what i will never forget about bitcoin

[Bytem3]

it works as long as you do large transactions. it's a store of value like gold not a payment (at least now with these fees)

[KingScorpio]

it works as long as you do large transactions. it's a store of value like gold not a payment (at least now with these fees)

i would rather describe that value storage more tulpmanic people only run into it because they can get more value out of if.

[iamTom123]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs, how can bitcoin be used if it is more and more unavoidable, because smaller transactions are not worth it anymore? introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralized pyramid system. if someone buys himself a hamburger with bitcoin, he has to pay more than 14 other hamburgers for miners...

This is the biggest problem with Bitcoin, along with the clogging in the network which means we are paying more for the transactions that are not really that fast. We are then hoping that people working for Bitcoin can come up with acceptable solutions so that Bitcoin's full potential can really be manifested. Right now, the market keeps on ignoring the challenges thrown Bitcoin's way because of the possible inflows of hot money into the system in the coming weeks.

These problems affecting Bitcoin and affecting all of us as the users should be known to all the people involved in Bitcoin's decision making so they will double hard to accomplish what they should finish. We don't want Bitcoin to be a big butt of jokes because what is happening right now are not what Bitcoin should be.

[Lucius]

i have recently done 2 bitcoin transactions and i had to pay in total 52 usd in transaction costs,

how can bitcoin be used if it is more and more undividable, because smaller transactions arent worth it anymore?

introducing new forks and splits like bitcoin cash bitcoin gold decreases the trust and people start consider it a manipulated centralised pyramid system.

if someone buys himself a hamburger with bitcoin, he has to pay more than 14 other hamburgers for miners...

regards

You pay max fee for your transaction and you can pay only 10% of that amount if you use custom fee and still get your transaction confirmed.I agree problems with high fees and slow transaction should be solved ASAP,but for now we have to adapt to the current situation.

I always use custom fee and some of the acceleration tool to speed up my transaction,never pay max reccomended fee because it can be very high.I hope with full implementation of Segwit and LN things will get better.

[Kprawn]

I want to say "Proof or GTFO here" but I would respect your privacy and hope you not just another shill trying to bad mouth

Bitcoin. {We get that a lot} Yes, the tx fees was a bit high for the last week, so I am going to give you the benefit of the

doubt. Just remember one thing.... The last week was not a normal week... The Bitcoin Cash pump was going on and

someone was spamming the shit out of the BTC network to sabotage BTC.  

Only a small portion of people and services are using SegWit addresses... as soon as more people start using and supporting

it.. things will go much better. 

[BrewMaster]

the current highest transaction fee to get a confirmation in next block is at 0.00081360BTC which is $6.7 with bitcoin being $8245.
if you are paying anything higher than that, you are either making a big mistake or your transaction size is huge and full of small outputs which means you have to rethink the way you are getting paid in your wallet and gathering dust.

i have to add that this fee is the maximum to get the fastest. i pay a lot less and still get my transactions mined fast.
also this won't last forever, we are still recovering from the bitcoin cash attack not so long ago.