Bitcoin transaction cost is too high

[chuckblocker]

"investors" fkd up the whole network, normal users must pay hundreds to send some bs payment and wait fkn days, bitcoin is the worst ecurrency that there ever was and I hope it's value plummets soon and end these get rich quick pipe dreams.

[dreamer81]

That is because people are using bitcoin. Dev team will implement new porotocols. LIghtning network will also help out with this problem

[tee-rex]

If You need deposit or withdraw just use conversion Etherum or Litecoin for transactions.

I second this stance. I don't know about Ethereum but Litecoin has been of great help to transact large amounts with lately. That's likely the reason behind the coin's recent price surge. And we will probably see the Lightning Network in Litecoin used for real if the number of Litecoin transactions comes close to the level of Bitcoin transactions. Speaking of Bitcoin, more specifically, we are unlikely to see the fees drop any time soon simply because miners won't let it happen.

[caobang]

I usually switch over to dogecoin for transaction, cheaper fees and faster transaction speed 

[bitvalak]

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

actually reasonable when transaction costs are expensive because this follows from the bitcoin price changes. But you can set the amount of transaction fee on wallet blockchain, but this will affect the fast or not your transaction will be confirmed.

[dlhezter]

i think, its because of high volume/usage of transaction made everyday, and that high volume/usage of bitcoin transactions can cause of more traffic/delayed to confirm a single transaction, so i think that a reason why do this bitcoin transaction cost become too high. and they also implement a options to choose how fast your transaction can be confirmed. the high cost of fee indicates that your transaction can be confirmed soon, while the low cost fee indicates that your transaction will be confirmed after a hundreds thousand of txn/transactions made.

[Astvile]

Maybe in value its too high but 0.001 btc transaction fee nowadays are just in the minimum requirements to be paid for not that fast transaction but not that slow too,yes traffic happens sometimes but its just sometimes and bitcoin still come through

[Rihab Farhat]

Due the increase of Bitcoin price the fees costs too high
Simply the Bitcoin nowadays is not for the people who have small amounts of Bitcoin.

[jayco25]

yes ive notice that the transaction fee right now is very expensive. I decided to convert my investment  to ethereum waves and litecoin. I hope the price of my three altcoin will rise although. Bitcoin is very good altcoin but the transaction fee very high

[francedeni]

Due the increase of Bitcoin price the fees costs too high
Simply the Bitcoin nowadays is not for the people who have small amounts of Bitcoin.

This happen because bitcoin demands is increasing as to bitcoin fees are expensive. Most hopes on bitcoin transactions fees could be lesser in the future. Well i hope this will be fixed.

[yugyug]

It is in correlation with the supply and demand, as the network traffic is increase the transaction fee also increases. As i observe in the past months before the bitcoin hit 2k USD, all the transaction went smoothly, and from this past month the transaction problem arises this is because the bitcoin is in high demand.

[kengeorge21]

Recently I read in news that lightening network is being tested and a transaction was successfully made upon it. If lightening network came out to be successful, then yes, there would be a huge fall in fees on the transactions which will be executed on lightening network. This is something which has the potential to boost bitcoin utility and adoption to much greater extent and might solve the long going scaling problem. Right now, these slow transactions and high fees are limitations o bitcoin development. Things are being done to solve it. Have patience!

is this real? if this happens transaction cost will become lesser burden for us, I hope there will not be a time that the half of the gain we earn will just go to transaction costs

[francesyrus]

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

High miners fee but still transactions are becoming too slow.
When miners fee is low the faster the transaction is, when miners fee becomes high it becomes too slow.
I think we need more miners to process our transaction...

[newguy05]

Due to the current price jump will cause a huge amount in small transactions in total, it was not this big before the increase

[bp.comp69]

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

may be many factors that cause bitcoin transaction price up 0.001, as the master said in the comment that it is still cheap in comparison first, all depends on bitcoin prices, now the price is so expensive and also more and more transactions

[braves182]

Bitcoin transaction are high because the demand on BTC grew up incredibly, creating a large queue of transactions. And the price of one satoshi is now more high, than before,so if you count in dollars, it seems ya, the fees were increased, but not in satoshi.  So, increase of demand always causes price growth, so not surprising for me, that fees cost so high. But if your transactions is not urgent, you can just put small fee manually and wait longer. Not the problem.
 

[Godric-Gryffindor]

Converting it to other cryptocurrency is a good move and can save you more satoshi on the long run, bitcoin planning to make it more lighter is good but now we have to adjust for more

[aizen10]

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

no there are no becoming changes after that crazy price hike. the adjustment of this transactions fee are fix to raise because of the high volume of transactions everyday vs the limited confirmation of bitcoin transaction every hrs. so this problem leads us to a high cost/fee for every single bitcoin transactions.

[AwpDragonPoor]

Yes, they are way too high because of the small size of each block. You can solve this issue by using forks, such as BCH/GOLD which both are pretty good IMO, or switch to Litecoin, which is known for it's extremely fast transaction speed. There is also apparently a project being worked on called Bitcoin Lightning which aims to solve network speed issues, but might take a while to come out.

[vv181]

Due the increase of Bitcoin price the fees costs too high
Simply the Bitcoin nowadays is not for the people who have small amounts of Bitcoin.

This happen because bitcoin demands is increasing as to bitcoin fees are expensive. Most hopes on bitcoin transactions fees could be lesser in the future. Well i hope this will be fixed.

I think Bitcoin demand didn't affect the transaction fee at all. What makes the transaction fee higher is because today there are many transactions so it exceeds the block size, and also the Bitcoin prices are rising.