Bitcoin fees

[squatter]

Bitcoin network fee is at like $34 right now.

Maybe for a high priority transaction that you need confirmed in the next block. But you should check https://bitcoinfees.earn.com/ before sending a transaction. If you are willing to wait 4-87 blocks (up to 15 hours delay) for a confirmation, then you can send a transaction for 125 satoshis/byte. At the median transaction size, that costs less then $5. Considering that Bitcoin is the most secure ledger in the world, that seems like a steal!

When will they go back down?

This spike in congestion resembles the one that took place about a month ago. It's a spam attack. It'll subside when the attackers have either achieved their objectives or run out of money.

[rodskee]

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.

yeah i really agree to avoid high transaction fees transfer your bitcoin into another wallet with have big amount because i experience on that situation i sent an small amount of bitcoin into my local wallet is to expensive the fee, unlike sneding big amount of bitcoin not hurt the transaction fees charges.

[Rahar02]

-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.

A good idea of 100byte/sat, but I'm not sure whether it can be implemented, basically change the nodes, right?
Bitcoin transactions always increases along with the increase in bitcoin price.
I believe exchanges have a big role in the matter of big volume transactions, but most of them still do not implement Segwit.
This fee problem should be solved or at least reduce the fee by adopting segwit addresses.

[kevoh]

The transaction fees are truly high. I tried to do a payment of $49 on mycelium wallet just yesterday, and was given $17 as the transaction fee for high priority. Now that's ridiculous. I tried tweaking to $3 as a low priority fee now my transaction is stuck and remains unconfirmed after hours.

These high transaction fees will be what will lead to the downfall of bitcoin if not resolved.

[emmanborromeo67]

For me if the bitcoin price is dump the fees are down but if the price is pump the fees is pump.

[samuel999]

I’m noticing a Coinbase today but the transaction fee of $30 it’s right around $15! It looks like that fee doesn’t change, it doesn’t matter if you send a one dollar or hundred dollars, the fee seems to stay the same. To be some sort of solution, I don’t remember being this way before.

[378budiman]

Costs can be reduced if more wallets apply Segwit if the user starts switching to a wallet that supports it. There is a permanent solution that makes the network much faster and significantly reduces costs. It can support more than 1 million transactions per second and still enroll in blockchain. But this technology is still being developed so it will not solve the problem in the future.

[andylioe78]

You are not afraid of high-priced transactions. You do it once when transferring large amounts to your account on the exchange. I'm sure next year there's an idea to increase the block size to be continued. So you only replace the coins for Fiat and do not pay high fees.

[GirlBitcoin]

Bitcoin fees are a necessary amount for bitcoin miners to pay for bitcoin transactions. The bitcoin fees on commercial sites are very different, you can adjust the bitcoin transaction fee to the most reasonable price that you can accept.

[ARTEM DA]

but then miners could take in work more profitable transaction,and your transaction will wait... last time for example i was waiting about 5 or 6 hours (2 days ago)

[SKEEMER]

Bitcoin network fee is at like $34 right now.

Maybe for a high priority transaction that you need confirmed in the next block. But you should check https://bitcoinfees.earn.com/ before sending a transaction. If you are willing to wait 4-87 blocks (up to 15 hours delay) for a confirmation, then you can send a transaction for 125 satoshis/byte. At the median transaction size, that costs less then $5. Considering that Bitcoin is the most secure ledger in the world, that seems like a steal!

When will they go back down?

This spike in congestion resembles the one that took place about a month ago. It's a spam attack. It'll subside when the attackers have either achieved their objectives or run out of money.

I use the exodus wallet. How am I able to change the transaction fee?

[Easteregg69]

Gdang fee is low today. I bought for 1000 XXX BTC and pay 0.55 XXX in transfer fee.

From a net dealer.

Apropos exodus. I dumped that one after the team made a divorce out of kicking doge out.  The fees are insane on that wallet. Total crazy! Like. Am i being robbed here ? - crazy.

[vina.lugtu]

In my opinion, the transaction fees right now are just enough. There is no need for them to srop the fees. We all know that transaction fees are needed in order for them to function.We should be okay with that, its not that high and its more convinient. I can't ask for more. I am just thankful for the services provided.

[Radio-Active]

Did you know why the bitcoin fee is high? The answer is simple
It is ecause bitcoin price itself is higher!
Bitcoin at december 2017 hit around usd 19k.
Therefore, the fees is high too.

[erickkyut]

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

Really? What kind of platform are you using? I'm using a local wallet and it doesn't charge us that much. My last transaction was charged $5 only. I know that the tramsaction fees are much lower now compared to before. Maybe the plarform you're using didn't update their charges.

[Cryptoipad]

The bitcoin exchange of transaction fee has spared dollers rate currency turning bitcoin's old claim to fame as a cheaper online payment method into a laughable assertion.But despite these increasing costs, and the long running debate there are caused, developers and users argue there are simple ways to decrease fees that aren't being fully taken advantage of.we have Overall though, as the number of companies supporting the new feature grows, bitcoin fees will decrease some even argue that transaction fees would disappear altogether if that transactions replaced normal transactions of exchange in the business.

[donte872]

The bitcoin exchange of transaction fee has spared dollers rate currency turning bitcoin's old claim to fame as a cheaper online payment method into a laughable assertion.But despite these increasing costs, and the long running debate there are caused, developers and users argue there are simple ways to decrease fees that aren't being fully taken advantage of.we have Overall though, as the number of companies supporting the new feature grows, bitcoin fees will decrease some even argue that transaction fees would disappear altogether if that transactions replaced normal transactions of exchange in the business.

I do not completely agree with you about this. The cost is the income of the miner. If the cost goes away, no one will be mining the bitcoin anymore, then the transaction will be blocked, the system will be stagnant and bitcoin will die. As for cost reduction, it may take sometimes to increase competition with other cryptos. But if the whales dominate the market and they are monopolized, then the costs will increase significantly to satisfy their greed.

[lillyann]

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.

True, it is not worth doing small transfers now. The fees are just like the price of Cryptocut. With small transfers it is currently unprofitable.

[hushwind]

Isn't there any other way to directly transfer btcs without paying this fees because otherwise what the difference in paying tax in fiats

[yansen]

if you expect to go down. then the bitcoin price should go down. the miners are paid a bitcoin transaction fee. not with $ (dollars). so the count is using Bitcoin. this does not matter because now bitcoin is not a currency anymore. but it has become a commodity, an asset. would be a problem if miners are forced to lower fees. it will be slow. and bitcoin miners are reduced. while investors want higher bitcoin prices. it is unbalanced.