bitcoin transation fee can be reduce???

[akram143]

Implementing the lightning network is the way to get reduced fee and fast transactions but now nothing happens bitcoin price os going down but the transaction fee is climbing up $50 for a little transaction.I was chocked now can't send or sell my bitcoins.I hope this situation will change after the fork on 28.

[gunungkembar]

Last few days  i was anlysis some exchanger they double there bitcoin withdraw fee.So my question why bitcoin transaction fee increased and deley transaction? bitcoin another fork super bitcoin already came so bitcoin can be ruduce there fee ?

it seems that can not and the cost of sending bitcoin the more expensive bitcoin exchange rate then the more expensive the exchange rate of delivery fee that is needed.

[negamus]

Obviously that it can be reduced, but it works by offer/demand, it is the same as the stock markets.
The price of the fees are created by the people who wants to send payments.
if they decide to pay $1000 worth of fees, and another guy put $1010, the price will be climbing up.

[icanscript]

Of course, the commission for the transaction should be reduced.Question is only how to do it? If people are willing to pay such money for the transaction, the miners will not refuse.

[mrjoy15]

Truly it's ridiculous. BTC has moronic fees. It should be under fairly fees. If you wanna trade for alts, ETH is the best option to avoid your huge loss.

[Shenzou]

Last few days  i was anlysis some exchanger they double there bitcoin withdraw fee.So my question why bitcoin transaction fee increased and deley transaction? bitcoin another fork super bitcoin already came so bitcoin can be ruduce there fee ?

The transaction fee will always be a problem to the bitcoin network and to the users in general, mainly because the transaction are verified by mienrs, and since bitcoin mining has become expensive there are less mienrs than before, less miners means slower transactions which leads to prioritizing the ones that have more fees paid than the others, for the most part fees are going to remain the same because we pay them in bitcoin not in real moen, and because bitcoin is expensive so will teh fees.

[paycum2]

Obviously that it can be reduced, but it works by offer/demand, it is the same as the stock markets.
The price of the fees are created by the people who wants to send payments.
if they decide to pay $1000 worth of fees, and another guy put $1010, the price will be climbing up.

dont agree. in almost all stock markets the fees are a fixed percentage!

BTC should have the same, no matter what price it is. The whole idea of bitcoin was to create a better system that the ones we have now, but at current state basically all btc functions are worse then our current systems.

Few days back i wanted to send 200 euro from blockchain.info to another wallet...costs where 110 euro! Fucking crazy.... hell, im not even sure if that is legal (not sure who to sue hehe but ok) i refused to pay that high of a fee, changed the fee, but now my funds are somewhere in heaven waiting to get confirmed (probably take weeks)... i can not cancel it, can not add the extra fee to speed things up... basically cant do anything...

Also im a merchant and have removed btc on all my sites as current fees are just too high....know lots of merchants (who never where really enthousiastic about btc) who have removed btc as well...nobody pays with it and if they do its way too much hassle to get it converted back to euros without loosing to much money.

Basically thats the whole problem with btc... still really zero percent of people use it in real life...volumes are gigantic now but its all speculation.... Im not being negative, but btc is far from a success if you look it from that point of view. And with current fees no normal people will ever going to use it..

[strasboug]

The fee is sky rocketing which is not good for bitcoin. Hopefully the lightning network will change this soon.

[SerMeric]

Some exchanges suspending new member registrations in order not to increase the fees. I receied such an email from cex.io

[oginiimaoyani]

The high transaction fee is really affecting people especially small industries and lower rank so it should be reduce let it not always be a problem in the platform owners help reduce this to enable easy movement .

[Rath_]

Yes, Bitcoin transaction fees can be reduced. Right now, Lightning Network which can make transactions almost free and instant is being tested on the testnet. Unfortunately, it will take some time before it will be implemented on the mainnet. It is mostly because of the fact that every wallet needs to implement support for Lightning Network. Fortunately, neither hardfork nor softfork is needed for implementing it on the mainnet.

[PeRo]

The bitcoin network is overloaded and it cant be helped. Maybe some people who have more than 1 Bitcoin are not really affected, but for me this is real crap. I have 23 euros and I can spend around 1 euro with normal fees, how crazy is that? I hope that thr Lightning Network will straighten this situation.

[chuckblocker]

Obviously that it can be reduced, but it works by offer/demand, it is the same as the stock markets.
The price of the fees are created by the people who wants to send payments.
if they decide to pay $1000 worth of fees, and another guy put $1010, the price will be climbing up.

dont agree. in almost all stock markets the fees are a fixed percentage!

BTC should have the same, no matter what price it is. The whole idea of bitcoin was to create a better system that the ones we have now, but at current state basically all btc functions are worse then our current systems.

Few days back i wanted to send 200 euro from blockchain.info to another wallet...costs where 110 euro! Fucking crazy.... hell, im not even sure if that is legal (not sure who to sue hehe but ok) i refused to pay that high of a fee, changed the fee, but now my funds are somewhere in heaven waiting to get confirmed (probably take weeks)... i can not cancel it, can not add the extra fee to speed things up... basically cant do anything...

Also im a merchant and have removed btc on all my sites as current fees are just too high....know lots of merchants (who never where really enthousiastic about btc) who have removed btc as well...nobody pays with it and if they do its way too much hassle to get it converted back to euros without loosing to much money.

Basically thats the whole problem with btc... still really zero percent of people use it in real life...volumes are gigantic now but its all speculation.... Im not being negative, but btc is far from a success if you look it from that point of view. And with current fees no normal people will ever going to use it..

Yah, i skimped on fees myself on the 18th, only paying 100sat/byte, and lost 10 times more then the fee during the droppage... wish i'd just have paid higher then and get it the fk over with instead of refreshing here for 4 days now. Got 2 more stuck with 460sat/byte since the 20th also.

Luckily paid the fkrs 1000sat and got most of my bulk out at 17k ) so not to bad other then waiting for this shit is brain damaging.

[TObject]

What is up with bunching up of transactions at the 450 Sat/B level? Is that a hard-coded fee on some platform?

[chuckblocker]

Probably the blockchain normal (1hr ))) fee or localbitcoins wallets. People trying to pay half the fee, fk knows but mine's in there aswell.

[ezbreezy08]

Yes they will release Zap next year is just like the we have a faster transaction a lightning network experience. with this bitcoin will pump more!!  i hope those who have micropayments can reduce their fees

[Davinus]

They will be reduced in a few months from now once that the lightning network gets released, otherwise, they are not going to be lowered. Well, maybe if the mempool gets back to normality again it can be reduced to the normal rate, aproximately 0.001 per transaction or so.

[vv181]

Lack of adaption of the Segwit is the problem since many people didn't care about the Segwit then I'm sure our only hope is the lightning network. The lightning network is already successfully tested on the Bitcoin testnet, and it is working great.

[chuckblocker]

They finally started confirming some. Down to 269k from 275k.

[goaldigger]

There are a lot of post here pertaining to Bitcoin transaction fees. I think the continues increase on demand which increases the its value is the main reason why transaction fees increases also. I dont think it can be reduced except someone will make some channel with a lower transaction fee.