♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨

[Pursuer]

90% of all bitcoin owners have less than 0.1 BTC each

you don't know that because "bitcoin owners" don't hold a flag telling the public how much bitcoin they own. all you saw is some stats on some website telling you how much each transaction output is worth and at least half of them are change addresses and the other half is the result of the spam attacks against bitcoin network.

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

the cost of sending a bitcoin transaction which can be $1 worth or $1,000,000,000+ is worth the same and it is worth $12. that is with current bitcoin price. maybe you think bitcoin is worth $35,000 I don't know!

[Juggy777]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

While I agree that the fees are high sometime this happened with me, on three occasions I had to transfer 1k each via Bitcoins, so first I incurred a 12$ fee, second time 6$ and third 1.45$. From what I understand is that during different time's there are different fees charged best is to transfer in the middle of the night and then see the difference, all you need to change your time of transactions and you'll benefit, check this method and post here.

[btccointalk]

Yes, it is too high. It should be reduced soon so that it does not become a hindrance on the progress of bitcoins.

[crisnel26]

Yes it is. Because fee's are constant in every exchange sites and we cant do anything about it.

[VitKoyn]

90% of all bitcoin owners have less than 0.1 BTC each
the fees to transfer $100 worth of BTC cost around $25. that is outrageous

How did you know that 90% of Bitcoin investors only have 0.1 Bitcoin each? lol. For now there is nothing we can do about this matter, because whenever Bitcoin price increases transaction fees will increase as well because there are lots of people who wants to make transactions which becomes the cause of congestion in the mempool and we can not do anything but to pay large transaction fees if we want our transactions to confirmed immediately and that's annoying, let's just wait for the lightning network mainnet to be released and I really think that this off-chain solution can solve this problem, I hope it will be available anytime soon.

[Gotottack]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

This is a common sentiment of every bitcoin user, even the ones that has a lot of bitcoins. This is because a lot of users still do make small transactions even if they are extremely bitcoin rich. For example, if they want to buy a VPN subscription with bitcoins for themselves then it would cost like $100 per year then another, like you said, $25 for the miner's fee. Probably the segwit2x people are on to something. Likely another talks about another fork will occur due to this.

[btcprospecter]

This is certainly going to present a problem for bitcoin and as many find out this they won't want to invest any more. Like others have said you could get cheaper fees but it would take longer. What's the point of that if the whole idea was for almost instant transactions.

[Dasvoni]

imagine if bitcoin reach $1,000,000 how much is the fees?

[Lancusters]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

This is a common sentiment of every bitcoin user, even the ones that has a lot of bitcoins. This is because a lot of users still do make small transactions even if they are extremely bitcoin rich. For example, if they want to buy a VPN subscription with bitcoins for themselves then it would cost like $100 per year then another, like you said, $25 for the miner's fee. Probably the segwit2x people are on to something. Likely another talks about another fork will occur due to this.

Such a high price per transaction forces the user to make small transactions. I personally have long put the coins in large amounts on the exchange and from there deduce the Fiat to a Bank card. Funny but it turns out that bitcoin itself forces users to use Fiat. It contradicts the idea of creation of bitcoins.

[lasry]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

Right now, fees are even higher than you transaction. I was trying to send around $5 to external wallet but thwn the fee is $8. Fees are getting crazy.

those fees are what really annoys me most. Its really hard to transact now compare to years ago.  Those people regulating these fees are trying now to abuse the soaring price of bitcoin. I hope they stop their greediness someday.

[The One]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

Yes 90% of all bitcoin holder was below 0.1 btc in there wallet and if the transaction fee is too high then it would realy affect this to a large community of bitcoin everytime bitcoin price goes up then the price also goes up. Yes thats true its because of the price goes up the btc that you are using for transaction few also goes up its just natural for this matter because transaction fee itself also is a bitcoin so if bitcoin price goes up the fee also goes up if bitcoin goes down the fee also goes down simple as that.

[1Referee]

those fees are what really annoys me most. Its really hard to transact now compare to years ago.

Bitcoin's selling feature as being a cheap way of transacting has never been much of a viable long term thing. It was obvious from the very beginning that the further we go in time, the more importance fees will have, and the further we go in time, the higher the level of adoption becomes, and the higher the fees will be.

Those people regulating these fees are trying now to abuse the soaring price of bitcoin. I hope they stop their greediness someday.

As we speak, miners don't need to spam the network anymore to artificially inflate the fees, because the insane usage peak is doing that already. It's like an auction where the highest bidders are the winners - people outbid each other's fees to get their spot in the next block. It's a situation where economics are the dominating factor, and this is something that will not change with Bitcoin in current form.

[hv_]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

Simple solution: use the real Bitcoin. Real Bitcoin has near zero fees.  It always has.  Bitcoin.com

Yeah - that's cool. It's cheaper in price and fees - looks like with BTC you have to (pre-) pay for lot's of useless over-engineering stuff  : SW, LN, RBF, shills, bubble ... does not make much sense

[Alpha0One1]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

Best to schedule your bitcoin transfers properly. Transfer from an exchange to anywhere would cost at a minimum 0.002.
If you look at it, fee to transfer is only 0.002%

It's just that the price of bitcoin had really risen a lot.

I'm assuming the creator, Satoshi, didn't forsee that bitcoin 0.002 transfer fee will be equal to $32 in such a short span of time.

[lablab03]

Yes, it is too high. It should be reduced soon so that it does not become a hindrance on the progress of bitcoins.

that is the disadvantage Side of bitcoin when it goes in a higher value there's a possibility also that the fees of our transactions will be higher.   We should accept the fact that bitcoin fee is outrageous on this scenario  which is not good to us even though it has also a good advantage When the growth rate increasing.

[Hexah]

That how it is right now and we can't deny that fact because everytime bitcoin go pumped up bitcoin fee also surges up, I think it would be best if there is limited price for every transaction just like exchanges because sometimes this wallets we have on a pc or a cp they almost suck what others earn. I think miners or mining industry would be profitable in this time around and if ever there is limit or should I say a determined consensus fee for every transaction then that would be good so that their is equality on every transaction fee for bitcoin.

[Homaz]

Bitcoin now is not mentiones to be used for payment, its like gold and has his negative sides. Hold in your wallet and wait.

[bob123]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

Simple solution: use the real Bitcoin. Real Bitcoin has near zero fees.  It always has.  Bitcoin.com

I hope that this just was a bad joke. BCH, as referenced by bitcoin.com as the 'real' bitcoin, is just a bad joke itself.
Changing blocksize is just a temporary fix. Its just delaying the problem. On-chain solutions to the scaling problem aren't going to be successful.
There has to be a second layer (like the lightning network, coming soon) to handle this problem.

[hv_]

90% of all bitcoin owners have less than 0.1 BTC each

the fees to transfer $100 worth of BTC cost around $25. that is outrageous

Simple solution: use the real Bitcoin. Real Bitcoin has near zero fees.  It always has.  Bitcoin.com

I hope that this just was a bad joke. BCH, as referenced by bitcoin.com as the 'real' bitcoin, is just a bad joke itself.
Changing blocksize is just a temporary fix. Its just delaying the problem. On-chain solutions to the scaling problem aren't going to be successful.
There has to be a second layer (like the lightning network, coming soon) to handle this problem.

This is rather a wet dream - but BCH is real and compatible to oldest Satoshi's versions - shops are coming back here.

[Sithara007]

90% of all bitcoin owners have less than 0.1 BTC each

you don't know that because "bitcoin owners" don't hold a flag telling the public how much bitcoin they own. all you saw is some stats on some website telling you how much each transaction output is worth and at least half of them are change addresses and the other half is the result of the spam attacks against bitcoin network.

Right now, there are around 50 million to 100 million Bitcoin users around the world. Let's say that the Bitcoins are distributed uniformly, which means that there is an average of BTC0.16 available to each user. This is the mean value. The median may be even lower and most probably somewhere around BTC0.001. Now considering that the average fees is around BTC0.0005, decide yourself whether the fees is high or not.