Bitcoin fees

[Sasuke102001]

Really the bitcoin transactions fees is too much and still taking a good amount of time to get confirmed. There are many people who are saying that the high transaction issues will be solved till next year and hope so it does get solved. Such high fees could be a big problem for small bitcoin holders. Will they pay for the product or fees?

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[Dhaaaw]

In my opinion thats the biggest flaw of the bitcoin technology. The fixed-size blockchain of 1 MB and each block can contain a certain amount of transactions so when the network is saturated the miners ask you for more money so you get priority in that little allocated space.

[phpdev3]

It is too high!! The authority should be alert to keep the fee low.

[TorbiK]

If the price of the transaction fee increases further, Bitcoin will begin to be used simply to store funds or pay for large accounts, and for other settlements, another currency will be used.

[SKEEMER]

I thought that a transaction with a little fee would mean the transaction could possibly take ages due to the miners only wanting to go for the transactions with the highest fees. They would literally forget about the lower fee transactions for a while as obviously they want as much as they can get right? That's why I thought there would be no point in sending with a lower fee

[mistletoe]

These wallets taking advantage of btc price. Their fee is going high up the wazoo as well!! Your profit from holding btc is like nothing cuz it gets eaten anyway by fees! @##$@!

[premium_domainer]

I don't think it is logical to pay 7-15$ to bitcoin transaction.

I can understand to pay when sending 1btc or more but for little transfers it is frustrating. Also even with this fee it takes days sometimes. Hate sending btc.

[Shenzou]

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

High fees and slower transactions have been and will always be a problem concerning the blockchain network, this is in my opinion a default of how bitcoin became difficult to mine, and since miners are the ones who verify transactions makes them slow, so a few numbers of miners meet with the huge number of transactions lead to pay high serve first, the higher the transaction fee the faster the transaction, and I am sure that this is one of the side effects of having bitcoin be so popular, and it will stay the same until mining becomes viable for anyone and not just for the big companies that have millions worth of mining hardware.

[BitcoinNewsMagazine]

The problem is so bad people decided to use litecoin to transfer value instead to the point where litecoin is down on Coinbase.

[promosn]

Hopefully there will be new miners :X ... you can watch the unconfirmed transactions out there here https://blockchain.info/charts/mempool-count , at least for now the amount seems to shrink a little and so should the fees.

[tabas]

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

I'm always checking it at https://bitcoinfees.earn.com/ and it's still too high. No one knows when will the fees go down. Before I'm paying $1 per transactions and I think that's already high before since transactions aren't too expensive but now paying more than $10 per transaction? It's really too high if we don't pay the recommended fee, it will be stuck in the network for days or even weeks.

[stevegee58]

Hopefully there will be new miners :X ... you can watch the unconfirmed transactions out there here https://blockchain.info/charts/mempool-count , at least for now the amount seems to shrink a little and so should the fees.

Adding miners doesn't really help.  The network is designed to have 1 block mined about every 10 minutes and the blocks are only 1M long.  The max bandwidth is pretty much fixed.

[marc_a]

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

I change my BTC first in doge and then sent it. Have to pay 3 doge for it. I think more people use altcoins for withdrawing

[saycryptohello]

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

yes, should wait for the market stability

[batang_bitcoin]

I change my BTC first in doge and then sent it. Have to pay 3 doge for it. I think more people use altcoins for withdrawing

This is an alternative way if you want to pay cheaper fees, I've seen this technique on social media and is being done by many traders. But I prefer to transfer bitcoin>bitcoin transaction, most of us are thinking that it's hassle to convert it first with any altcoin but others are seeing it as a solution to the network problem plus with the increase of fee.

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

The fee is really hurting small transactions but the increase is just a small fee for those big transactions out there. I don't have an idea on how this increased miners fee will takes place, they have to make a solution for this one.

[iL_P4driNo]

Today, blockchain.info asked for more than 20$ to transfer 20$. Anyone knows the reasons behind these high fees and if it's going to decrease in near future?

[TopT3ns]

Today, blockchain.info asked for more than 20$ to transfer 20$. Anyone knows the reasons behind these high fees and if it's going to decrease in near future?

bitcoin transaction fee it depends on size, and not price ( CMIIW )  it looks really high because the price is high enough to make it look like the fee is increase too,

[Jonsnowstark]

Bitcoin fee is too high. It has high fees and has slow transactions. The price of bitcoin may affect the fees but i just hope not in a way that they will charge about $8-$20. It's too expensive for those who are small time holder of bitcoin just like me. If they gives us higher fees per transactions surely bitcoin will go down because not all people owns a lot of bitcoin to waste it on just fees

[SixOfFive]

Major drawback of BTC not using as digital currency for every is High transaction fees and time lag to confirm a transaction.
BTC transaction fees is going crazy now a days....regular transaction fees per byte is upto 300satoshi which is crazy. That mean to make a trade of $15 you need to pay $12 as transaction fees which is insane.

[carriebee]

Major drawback of BTC not using as digital currency is High transaction fees and time lag to confirm a transaction.

This is the most problem of bitcoin users lately the transactions fees are expensive. Also the confirmation that takes long. I hope there is a resolution on this lag and to down the fees in every transactions.