♨♨♨ Bitcoin Fees Are Outrageous ♨♨♨

[Turk Ace]

It is impossible for new comes to get Bitcoin is a small ambt like the OP said even $100 is crazy and has high fee attachment. How must nee users practice using Bitcoin? When I started it was so cheap and I could use it all the time. Now it's too expensive to use to spend anything less then $100 and even then I question the fee.

[aso118]

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

The fees are high at this point of time. If scaling solutions like lightning network are implemented, then the fees will automatically reduce.
Also, there is a lot of media attention because of the price increase and that has attracted a lot of new people into the market. Once the price stabilizes, attention will die down and so will the number of transactions.

[learner 7]

Yes, the commission for the transaction is very large, which causes discontent of the community. I hope the developers will make the price acceptable.

[zakcooper40]

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

The fee of transaction is depending on how much unconfirmed transaction pending on the blockchain system, so the wallet website will suggest you to pay the higher fee than the average fee on the system.

[suzanne5223]

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 the fee is too high, I hope there is a way to lowering the fee of bitcoin transaction. The current fee will not good for daily transactions, I am sure that people will prefer like to use paper money if the fee is still high.

Quite the opposite will because people have feel the taste of crypto currency and this is what cause the increase in volume which leads to hike in transaction fee. However, this will only make some bitcoiner switch to altcoin like the Ether,Xrp etc.

[ShortCoins]

Less than 1% of the world has adopted crypto currencies. If the fees are this absurd already, what is it going to be like when more people try to transfer money using BTC and altcoins. The fees make no sense and are a big part of the overall money grab/scheme. The fees go to the miners and the whales. The big profits will also go to the miners and whales who will crash the market when they cash in

[ShortCoins]

How much are the average fee prices now? Does anyone have a graph of fee prices over time or a good source to keep track of fees?

[imteaz]

Try to send $60 worth bitcoin charged me $10.50 for it, been 24 hours still didn't receive it, lol what's going on?

[ronremsey25]

Yes transaction fess as of this days is so high because their company or the trading sites need to adopt to the changes of value if Bitcoin. It is needed for them to raise the transaction fee so that their company won't lose their fund. If they didn't raise their fee then they will be down for good.

[D5128FPJ]

Suggest that we all use sewgit address, you can save fees about 50%

[milhaop]

Suggest that we all use sewgit address, you can save fees about 50%

Indeed. This is the faster way to avoid this overfees

[gestknpa]

The CORE team and the BCH developers are still chattering about who is orthodox Bitcoins, but horrifying bank transfer fees have forced us to turn to BCH or other altcoin for lower transfer fees.

[hv_]

The CORE team and the BCH developers are still chattering about who is orthodox Bitcoins, but horrifying bank transfer fees have forced us to turn to BCH or other altcoin for lower transfer fees.

Yep, and so BitcoinSegwit market share plummed down.

Now, what do you expect if BCH could solve it?

[haileysantos95]

Try to send $60 worth bitcoin charged me $10.50 for it, been 24 hours still didn't receive it, lol what's going on?

Your transaction might be in clog thats why its taking to long to be verified in the network, you are not alone from this scenario there are many other who has been waiting for much more hours.
Thought they implemented lightning network already? this will reduce the fees and make the transaction much faster.

[ShortCoins]

Why are bitcoin transactions already getting clogged when only 1% of the world is using bitcoin?

Shouldn't bitcoin be able to handle more than 4 transactions per second? This seems very inefficient

I can't think of any solid reason to pay such absurd fees and wait such long times, unless doing illegal/sketchy purchases :/

[ShortCoins]

Suggest that we all use sewgit address, you can save fees about 50%

So how much does it cost using "SegWit" at the moment? Fees on bitcoin are around $35. Is SegWit still costing around $17.50?

[Reid]

It is a problem ages ago.
Some of us here are already used to it.
Hell even when Ethereum also increased their gas price just so to complete the transaction, we are used to it.
This is a problem with users also. Those who made too many transactions with just a little amount to pay are stucked there. Now, whose miner would want complete that?
You will understand this once you understand the miners. Pfft. Pay enough and the service will be done.

[Anphonsus]

Surely this transaction fee issue will be a big problem if BTC price keeps increasing (and it probably would) in the future. The Lightning network can't come soon enough.

[ritsel02]

That's right fees are too high, I'm trying to transfer my funds to my other wallet but I will lose a lot of money because of the fee so I decided not to transfer at all, it's really a waste.Hopefully they can do something with this fee problem. One of the advantage of bitcoin is easy transactions but with this high fees,it's now painful in the pocket.

[buwaytress]

Suggest that we all use sewgit address, you can save fees about 50%

So how much does it cost using "SegWit" at the moment? Fees on bitcoin are around $35. Is SegWit still costing around $17.50?

It doesn't cost anything to "use SegWit". What he means is that you should now look to use wallets with that can support it. Nodes that see your transaction will then see it as slightly smaller in size, so the fees you pay for the transaction become essentially become more efficient.

Fees on Bitcoin are NOT around $35. There is no fixed amount of fees, the effective fee you end up paying is completely based on the size of your transaction. For me, almost all of my spends have 1 input, at most 2 or 3. This means the majority of my transactions are around 225 bytes. To get an almost guaranteed confirmation within the next block at current conditions, this means I would need to pay under 10,000 satoshis as a fee (for an effective fee of 391 satoshis per byte based on https://bitcoinfees.earn.com/).

That's only $1.70 at current price.