Bitcoin fees

[SKEEMER]

Bitcoin network fee is at like $34 right now.
When will they go back down?

[Proton2233]

This is a big problem. I am sure that next year the idea of increasing the size of the block will be continued. Continue to pull the impossible. But I'm not afraid of high price transactions. I do it once at the time when transferring a large sum into the account on the exchange. then I just change the coins for Fiat and don't pay such fees.

[secondgarlic]

This is a big problem. I am sure that next year the idea of increasing the size of the block will be continued. Continue to pull the impossible. But I'm not afraid of high price transactions. I do it once at the time when transferring a large sum into the account on the exchange. then I just change the coins for Fiat and don't pay such fees.

I don't transfer bitcoin often as well, but in my view this shouldn't justify the high transaction fees. Not everyone moves thousands of dollars with each transaction as well, so you have the danger of the fee costing more than the transaction itself, which is never a positive thing, of course.

[ARTEM DA]

This is a big problem. I am sure that next year the idea of increasing the size of the block will be continued. Continue to pull the impossible. But I'm not afraid of high price transactions. I do it once at the time when transferring a large sum into the account on the exchange. then I just change the coins for Fiat and don't pay such fees.

I don't transfer bitcoin often as well, but in my view this shouldn't justify the high transaction fees. Not everyone moves thousands of dollars with each transaction as well, so you have the danger of the fee costing more than the transaction itself, which is never a positive thing, of course.

what coin is better for transaction's to pay less? I mean, not to pay such fee, for bitcoin transaction. Doge-coin or smth like that?

[loaddebitcard]

They will go up cuz bitcoin price is going up.

[lighpulsar07]

I know your pain especially on your pocket because you buy a lot of food with amount of money but wait a little longer a according to articles that i read online, lightning network is currently testing on the main bitcoin network and they were successful and they said this is a game changer so, sooner or later this will be implemented on main network and let's see lightning network can do when they will implement it.

[Aura]

The fees could be reduced if more wallets would implement Segwit or if users started to switch to wallets that do support it. But there's a permanent solution coming that will make the network much faster and reduce the fees significantly, it's called the lightning network. It could support over 1 million transactions per second and still register them on the blockchain. However that's a technology that's still being developed so it won't solve the problems tomorrow.

[zombie6]

They will go up cuz bitcoin price is going up.

Of course, yes, I also like it, the idea itself implies low duties

[Iranus]

Bitcoin network fee is at like $34 right now.

Nope.  You could quite comfortably send a transaction with fees of 100 satoshi/byte if you were willing to wait a while, which would result in fees of about $4 for a non-SegWit transaction with one input and one output.

Perhaps you are sending an unusually large transaction; your wallet software is sending an unnecessarily high fee; you're sending a high-priority transaction; or a combination of both.

The fees are very high, but the fee you're talking about is atypical.

When will they go back down?

They would go down in three possible occasions:

-Major services actually start using SegWit
-The hype dies down and people don't need to desperately send for their trading
-Another scaling solution is implemented

[zais]

Bitcoin network fee is at like $34 right now.
When will they go back down?

Bitcoin transactions usually occur for free if the amount of Bitcoin shipped exceeds 0.01 BTC. Bitcoin in small quantities is given to miners as a reward for processing the transaction and putting it into blockchain. For now, most transactions are processed for free, but for deals that attract coins from multiple Bitcoin addresses so that it requires a larger portion of data, it will incur very small transaction costs.

[Marco Ambrusini]

The recent rise in transaction fees and just mind blowing.i am pretty sure the fees are being increased just to deter bitcoin holders from selling.
Probably after hitting 20k the fees might drop a little.

[A.Chanaka Bandara]

Bitcoin transaction fees is big problem. BTC transaction descorrege due to fees.
So transaction fees should be very low

[medsi2]

Yes, actually they are a little bit high. I think that this problem needs quickly a solution because nowadays it is not that easy to send micro transactions for trading fast.
By the way you can use alternatives for sending funds to exchanges (for example digibyte as a low transaction fee)

[Vicrey]

The higher the demand the higher will cost is, I know when the bitcoin pump higher the cost of every transaction become higher too, correct me if I'm wrong or depends on the wallet you use when you are going to transfer it, but there is a two segwit that would happen i think it is one of the reason why the price of transaction became higher just wait it to back to normal

[Christian13]

Bitcoin network fee is at like $34 right now.
When will they go back down?

Bitcoin has a transaction fee system to handle situations where demand for the network exceeds its capacity. Whenever someone submits a transaction to the network, they have the option to include a transaction fee that goes to whichever miner includes that transaction in a block. if there are more transactions than will fit into one block, miners can be expected to choose the transactions with the highest fees first.

[jake zyrus]

They will go up cuz bitcoin price is going up.

Because the price of bitcoin is higher so the transaction fee is getting higher cause of demand. If the value of bitcoin pumps down the transaction  fees become down.

[franky1]

-Major services actually start using SegWit
-The hype dies down and people don't need to desperately send for their trading
-Another scaling solution is implemented

or the protocol starts measuring in 100byte/sat instead of 1byte/sat
lame brain developers think the protocol cant go below 1byte/sat without having to add millisat units if measure. but they are wrong. it can be done, if they really thought about it.

also a new fee priority formulae could be added that actually works.

[1NV3ST0NM3]

Bitcoin network fee is at like $34 right now.
When will they go back down?

This has been a routine thing of BTC. Moment the price begins to rise the network fees booms along with it. Regular transactions demand more than 250Sats/byte. I am eagerly waiting for lightning network which would drastically reduce the transaction times and fees involved. This increasing fees is making btc more  of an investment and asset than a medium of exchange

[btcprospecter]

This is going to be a major problem as the price rises we could even get to the point this could stop bitcoin from making any progress. As we get to the point where it costs more for transactions than what's been sent.  

[Wicked17]

Bitcoin network fee is at like $34 right now.
When will they go back down?

Rising of transaction fee in bitcoin will surely hurt those small time holder of this coin. This will be a big problem in the future. I know some bitcoin holder now convert their coin into other altcoin to avoid this high fees. If the demand and price will still continue to increase, i dont think it will go back to lower fee