Bitcoin transaction cost is too high

[samvel86]

Yes it is expensive, and from time to time it seems like you spend unnecessary money. But profit sometimes closes the gap. In any case, I'm happy with the high income, of course, it would have been better if we had to make lower fees.

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[muhammedb]

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

Yes think transaction fee is really killing it investors and secondly the transaction speed don't even worth the amount of fee. I guess is this why many people are running away or dumping bitcoin for altcoins which is really causing harm to it community.

[Miguel Fulton]

 It's 8 year old technology........
 Should of progressed better then this, but this is why I feel other coins have came to exist. Because bitcoin took too long too find solutions. Take any technology and look at it 8 years ago compared to today, it's completely different and advanced to suit the current needs. Anything that doesn't, gets left behind.
 Most technology progresses ALOT in 8 years, and bitcoins plan from the beginning was mass adoption and worldwide use by anyone and lots of cheap transactions. Creating something to solve those problems(bitcoin) and not having a solution to what you are going for, 8 years later, really is troubling.

[Eden Thompson]

 Bitcoin has a problem with scalability because it relies on PoW mining and we want to avoid further centralization pressure.
 PoS coins have completely different scalability considerations, they can support 100x transactions per second without breaking a sweat.

[Sam San]

Yeah btc transaction cost is quite too high and all of us already knows it but we cannot to anything about it. It is just understood by the users because it is part of the reason why bitcoin value is still high and continuously increasing.

the cost of the transaction is reduced in bitcoin cash, but it did not give him any special advantages. so the cost of the transaction is not yet highly appreciated by users, they need the asset itself.

[Cult]

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

Yes think transaction fee is really killing it investors and secondly the transaction speed don't even worth the amount of fee. I guess is this why many people are running away or dumping bitcoin for altcoins which is really causing harm to it community.

It's pretty ignorant for these people to dump btc at that stage as the lightning technology which is already working in a test regime can solve both transaction speed and cost issues.

[Dmitry.Vastov]

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

As we all know that bitcoin is entirely a decentralised crypto currency and being decentralised there is as such proper authentic regulating body over bitcoin who could keep eye over all illegal activities or other activities associated with bitcoin and one of such issue is high transaction fee, yes now a days people around a world, suffering the issue of high bitcoin transactions fee and what I feel is that all these issues will be sorted only when bitcoin will be declared as a central currency globally.

[yousuf5]

high transaction cost is normal and it is as a result of increasing rise in value of bitcoin. however i think online bitcoin wallet like coinbase and blockchain offer lower transaction cost than other desktop wallets like electrum.And, i hope in the future all exchange and wallet can speed up all the process of sending funds in any case.

[MarieMoore12]

Bitcoin transaction fees over the past few days have been reduced to about $ 1 for mid-range payments, despite the fact that the Bitcoin mempool size is still above 120 million bytes. Bitcoin purse platforms widely used such as Blockchain are offering a fee of 55 satoshi per byte, well above the $ 1 level for average transactions. Earlier, just a month ago, Bitcoin transactions were up to $ 30 for medium-sized deals, particularly for wallet platforms and Segregated Witnesses.

[dohh]

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

What is happening, is a start of collapse of this scheme. Miners get paid exponentially less with every halvening. So they need to put expensive price of mining into fees.
What will happen soon: transaction costs grow even more and when it will become unreasonable even to speculate with BTC, whales will leave BTC. Price will collapse into next to nothing. I give it maximum 1 year.

[Winnerschapel]

Bitcoin transaction fees are quite expensive as compares to the likes of etherum, litecoin, xrp, etc. One can alsways convert his/her bitcoin to etherum and make his or her transaction to get a much lesser transaction fees. I believe in the future, the developers would improve on it and the fees would be much lower

[AngryWhiteWolf]

There are months since I didn't make any transfer in bitcoin. Using another altcoin (won't advertize them, but there are many options) with decent price and fast confirmation you can easily cash out or move funds between exchanges.

[Bumblecoin]

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

Yes, bitcoin transaction fees are higher as compared to other crypto currencies. Maybe there are other ways and means in which we cannot pay more in botcoin transactions.

[peter1]

As the cost of BTC is higher and higher, do you still think the price of BTC will drop a lot? If BTC prices fall below cost, the whole market is likely to collapse.

[supelle.born]

This is still one of the problems bitcoin needs to solve, as well as its scalability. It should be noted, however, that transaction costs have declined considerably since last year when they reached absurdly high levels.

[chnexus]

One thing people don’t understand is that each BTC is not worth the same in my opinion. BTC mined back in the day was very easy to get and costed pennies in terms of electricity and computing power needed.

[miraj0007]

At present, Bitcoin transaction costs are high, Bitcoin is now being used by many people, and the reason behind it is because many people benefit from it using Bitcoin. Bitcoin transactions cost more but there are many benefits and people use it for this benefit.

[vual]

I suppose it's, therefore, higher as well. However, you understand, they are able to usually dispute this is a result of the actual increase associated with Bitcoin needs. Along with this kind of, everything elevated such as electrical power expenses. This particular just about all lead towards the reduced bargaining energy associated with Bitcoin traders since the way to obtain the actual administrative may barely make up the actual needs. I'm hoping points can get much better or else Bitcoin traders may simply end up receiving conned of the income.

[rexona]

If you think the cost of bitcoin is too big, you better convert it to altcoin, at least it can make the transaction costs you make will be cheaper, hopefully botcoin will soon get a solution to this problem.

[indayburakday012]

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

This really happen when bitcoin market price goes high so the percentage of transaction fee will remain but as the market price for bitcoin goes high then so does the transaction fee for it. This is an SOP or standard operating procedure for the transaction fee of every bitcoin transaction fee.