Bitcoin transaction cost is too high

[Dexion]

I think that's a natural thing if bitcoin transaction costs are expensive, because bitcoin is a great digital currency.
if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.

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[Sahyadri]

The transaction fee is high because the memory pool is filled with many transactions. It happens whenever the mem pool exceeds 100mb in size.
You can see the current fee and the mem pool size in https://btc.com/stats/unconfirmed-tx . The transaction fee will lower when the mem pool is decreased in size. The problem of high transaction fee will not be solved until the lightning network is released and we will have to pay these fees until then.

[mocacinno]

It is true . Is bitcoin fee fixed for any amount or it is depend on how much amount you are going transfer ?

Thank.

I've actually given the correct answer in this very thread... It's not fixed, and it's not dependant on the value of the transferred BTC.
The fee depends on the size (in bytes), the size (in bytes) depends on the NUMBER of inputs and outputs, not on their value.

[vv181]

I think that's a natural thing if bitcoin transaction costs are expensive, because bitcoin is a great digital currency.
if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.

No, that is not natural. The lightning is being developed and tested. I saw an article its been successfully deployed on the mainnet test, It should help to reduce the transaction fees and the transaction confirmation.

[redsuncrypto]

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

we should use altcoins like Ether or Litecoin for transaction or buying other new coin

[KwizatzHaderach]

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

we should use altcoins like Ether or Litecoin for transaction or buying other new coin

Problem is in our country we cannot buy ETH and LTC directly and have to exchange with BTC first.
OTC is way too much risk and hassle to do.

[whirlcoin]

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

The transaction fee is high due to more traffic in the blockchain network but it will be resolved soon,so the fee will be decreased in some days.But we need to find a permanent solution for transaction fee or it will affect the future of bitcoin.The lightning network is the option to overcome this problem so it have to be implemented soon.

[LuanX3]

I guess it is so high too. But you know, they can always argue that this is due to the influx of Bitcoin demands. With such, everything increased including electricity costs. This all resulted to the decreased bargaining power of Bitcoin investors because the supply of the admin can hardly compensate the demands. I am hoping things will get better otherwise Bitcoin investors will just end up getting robbed of their earnings.

[Malamok101]

I think it's really worth the coins.ph they charge the cost of their site there but I'm in blockchain you're just steady with the 0.0002 bitcoin fee as well as the coinpayment.net site steady only at 0.0002 bitcoin the fee but where do you want the wallet to be with you that you have to be there, do not believe in other wallets that are not legit since most wallet sites are scams but with blockchain and coinpayment and legit and have long running the wallets that's it.

[Albert211994]

The reason why it looks high right now is because Bitcoin's price is now above 16000$ making it look high as the value of Bitcoin is expensive. But in terms of Bitcoin it has still remained the same. The network fees in Coinbase are around 70,000-85,000 which I normally see even before Bitcoin reached the price of 3,000$. I really hope that the implementation of the Lightning Network will improve the fees and transaction speed. Right now it is best not to use Bitcoin as a mode of payment.

Don't you think that fees should be revisited so that it should be lowered? Most of the suggestions here are to use alt-coins when transferring to lower the tx cost.  I think that move is bad for bitcoin.

Others do not trust Lightning Network because it makes bitcoin an alt-coin.

Hope, the fees could be lowered, that will reflect the current price of bitcoin, so it will remain usable. NO one wants to use bitcoin if it takes tens of dollars just to move a few sats.

[morkriger]

Personally if I need BTC and I have it in an exchange, I always try to transfer with another coin to Poloniex, it has one of the lowest tx fee for BTC nowadays.

[Bittoshi]

I think that's a natural thing if bitcoin transaction costs are expensive, because bitcoin is a great digital currency.
if you think the bitcoin transaction price is expensive, I suggest you to convert it to ethereum, or litecoins.
or you can use a voucher to take advantage of bitcoin, and it's cheaper. and I used to do that.

Even for Ethereum the transacion fees are rising (ever heard of the crypto kitty game?). It seems that for most crypto currencies which reaches a certain popularity the fees are rising and rising. Time to scale up.

[Deubila]

quite expensive. I was annoyed every time I traded. Transaction fees can be up to $ 30, compared to my assets are too large. There are many currencies that can be traded quickly. very cheap cost

[A1exander]

Yes, the fees are too high and been too high for a while. I think higher-level solutions (such as Lightning Network) are the only hope. Until then, bitcoin is completely unsuitable for online payments and other small transactions.

[Kotone]

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

YEs it has been high and truly it has caused a great deal of displeasure from all of us that are trading and transacting with cryptocurrency however if we think about it even with the transaction costs it is still a paltry akount compared to what bitcoin truly is

[HongKong]

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

we should use altcoins like Ether or Litecoin for transaction or buying other new coin

If you have the money in your desktop wallet then send it from there. You can send transactions with a 0.0001 btc fee.

[Chalxdon]

Not only are the transaction fees high, it took a relatively longer time for the transaction I did to go through.
I hope lightening the network works out perfectly in good time

[Jonsnowstark]

What is happening?
will it change after adjustment since the transaction cost is being affected by the crazy price rise

Yeah it is quite disturbing especially for someone like me who has small investment. The fees would eat all my bitcoins. Its just crazy. Its surging high after the increase in bitcoin value. Many have chosen to trade with litecoin which causes the litecoin value to increase.

[tweetbit]

If bitcoin price is increasing then it’s obvious that the value of the transaction fee will also increase as it was valued in btc. It’s a given that we need to accept particularly because we are leaving in a fluctuating investment in normal basis. We can’t complain for we also want it’s prices go high and the only thing we should do is accept the consequences.

[coinsclone]

Yes.. Nowadays the cost of bitcoin is high. For Indian Rupee: 1 bitcoin =1100348.29 Indian Rupee. In US, The cost is high when compare to India.So choose the Indian website for bitcoin transaction.