bitcoin fees will NEVER come down

[kalakabgr]

Once each miner has less work to confirm a transaction the fee will go down as the entire block will have room for more transactions therefore a smaller split for each part

[alisa20172020]

I also think the transaction costs of bitcoin are not so easy to reduce. ETH's transfer costs have also increased sharply recently. I think this may be a trend in the future, and some good altcoin transfer costs will increase. In the discussion of this problem, the miners must be in the opposite direction with the traders.

[jrrigs]

I heard of someone who purchased $120 last Sunday and only got $11 and some change. Thats crazy insane tx fee. I tried sending .0375 today and it confirmed within the hour. 234sat/byte

[hagia]

i think the fee of bitcoin never come down. why? because bitcoin right now have a big traffic in transaction, and as we know that if we use bigger fee our transaction confirmation is fast. i think all people want that their transaction is fast, so they will make the standart of fee is high for makes their transaction confirmation is high

[shezu007]

yea fee of transaction now a days is increasing day by day and due to which people are facing various problems but i hope soon this issue will solve by miners because if such high fee are taking by miners then people will decrease or stop transacting bitcoin.

[lasry]

I don't know, fees should fluctuate with volume right?  Currently we are seeing mass adoption so its no surprise that the network is overloaded.  Unless someone is spamming again, like what bitmain did before for political reasons.  But with the surge of interest, and availability of good alt coins, no one would be stupid enough to encourage people to flee to other coins would they?   Who knows, it takes all kinds I guess.

I actually agree with this. Fees should go down together with the price of bitcoin. The only reason why fees are damn high is because that the price of bitcoin is damn high also. They are actually in direct proportionality so as said fees should go down as bitcoin goes down. but what maybe is happening is that the traffic is really heavy right now and because of that miners are taking advantage.

[lili song]

Yes bitcoin fees never come down, because bitcoin the price up and sure fees will come up also.
Is impossible if bitcoin increase high, but bitcoin fees not up also. Bitcoin fees already up never come down again !

[Fundalini]

Never is a strong word;there's still a possibility. For instance, once bitcoin gets so bloated due to tx fees backlog, people will realize that it is not practical to use anymore and eventually move to another coin as payment. Naturally, miners would have less txs to mine and they too will switch to another coin. If this happens, difficulty in mining will be less and fees will once again be low.

[spasmadness]

think about it if you were a miner, and have learnt that you can charge XXX for transaction why would you be happy to again charge just one X?
It is certain the more popular coins will increase costs to catch up with bitcoin, as opposed to bitcoin lowering .
Developers are already being pressured to behave in ways that I dare not repeat.

I'm sure they will whenver highest mining companys get an agreement in between.

[Eternu]

Transaction fees went up because of sudden rise of bitcoins price, also there was that problem with Nicehash which lead to a lots of miner stop mining. Miners would like that fees stay high forever, but that will not happen. If fees stay high, people will stop transfering their coins which will bring price down and with that fees.

[MisterPrada]

The real gain, maybe
, will be with the enabling of Lightning and other smart contracts etc. With lightning, essentially you create a contract, enforced by the blockchain, where you and a party can keep a balance of coins between you that can flow back and forth, until limit is reached or some party wants to settle it. Once the contract is recorded on the blockchain, it can be changed when both parties sign it, but settled when one of them demands it.
This is the simple explanation according to my current understanding of LN

[pinoyden]

Transaction fees went up because of sudden rise of bitcoins price, also there was that problem with Nicehash which lead to a lots of miner stop mining. Miners would like that fees stay high forever, but that will not happen. If fees stay high, people will stop transfering their coins which will bring price down and with that fees.

i think no. thats not the main reason why bitcoin fees are too expensive because as you see bitcoin has drop for about 30% but the fees were still the same and they even got increase a  little bit. bitcoin fees are high because the network is verry congested and the mempool if full of unconfirmed transactions due to the users that sends a single transaction with a verry low fees that is lower than the recomended fees. miners were also the one to blame here because they are too choosy and picky due to the fact that they only prioritize the transaction with a higher fees.

[benmartin613]

Transaction fees went up because of sudden rise of bitcoins price, also there was that problem with Nicehash which lead to a lots of miner stop mining. Miners would like that fees stay high forever, but that will not happen. If fees stay high, people will stop transfering their coins which will bring price down and with that fees.

i think no. thats not the main reason why bitcoin fees are too expensive because as you see bitcoin has drop for about 30% but the fees were still the same and they even got increase a  little bit. bitcoin fees are high because the network is verry congested and the mempool if full of unconfirmed transactions due to the users that sends a single transaction with a verry low fees that is lower than the recomended fees.

Those transaction with lower fees were mass produce hence clogging the network and making things look like bitcoin is not an option and lets move to bitcoin cash or other alt coins, bitcoin devs should have foreseen this and should have been prevented as it will damage bitcoin more the longer this takes.

[RamonBTC]

It will, on a certain time when they’ve realized that they badly hurting bitcoin a lot. And I hope it would be soon as many investors are withdrawing because of the cost and delay. This must be a total backlash from the miners when they themselves imposed manipulation and those uncertainty will hit them in due time.

[Kakmakr]

Well, some of these miners will change their mining operation to adapt to these changes. They will frequently swap between the different coins to increase profitability, like they are doing with Bitcoin and Bitcoin Cash now and they will supplement their income by running Lightning Network hubs.

One thing about miners, they know how to exploit the smallets thing to make more profits.

[davidmike04]

Bitcoin fees are so crazy right now, Initially as the fee was increasing what i normally did with my blockchain app was to use advanced option to set the exact numbers of sat i needed for low fee so even if it took longer for transaction to go through at least i saved myself some extra dollars, But as of late no matter how i try to reduce the fee i still end up paying so mych for such little amount of Bitcoin.. And i don’t believe the fees will ever reduce

[minerja]

Hi, just my thoughts on fees.

I'm in the Uk, and recently tried to buy approx $400 (GBP can't find the pound sign on this linux distro) worth of goods.
Now in the this particular case the transaction has to go through Bitpay, so i have desktop wallet, and have to manually copy the address, and amount across, and the wallet recommends a fee based on current network demand. It gives me options such as 10 mins, 20, 40, 60, 2 hours, 4hours, 8 hours, 24 hours, 3 days...etc....at the moment if defaults to fees for the 2 hour slot.
Now since Bitpay only gives you a small window for first confirm, i selected 20 mins instead of 2 hours...i cant remember exact fees but it doubles it, over 978 sats i think.
Anyway when i went to confirm, the fee equated to over 25 GBP (on a 400 GBP order)
Even at this level Bitpay complained that i had selected a @low miner fee@ and 6 hours later the transaction has timed out at their end.
So now i have an irreversible transaction. They and the supplier have cancelled the order.
So what happens next is i have to contact supplier, ask them for a refund. If i am lucky they will refund, when i get email link i have only 24 hours to collect (great if i am away from emails in a low signal area for a few days), and then the refund i get is minus there miner fees.
So i have spent about 50 GBP, wasted 2-3 days, and have no goods.

Now i don't have a crystal ball, but i cannot see how any currency can possibly hope to survive nevermind flourish with such a broken transaction system.
In the UK at least, all those transactions firstly would have just gone through, and secondly would have been free.

So what am i saying...please bitcoin people, reduce the fees, the whole original idea was to produce a currency that could be used anonymously, world wide, for everyday transactions.

I don't understand the technicalities of segwit and blocksizes etc, i just know that for survival the system needs a huge overall.
I understand the vested interest in high fees for the miners, but that was back in a time of no competition.
Look back in history at all the fallen giants (IBM, HP, etc) they all thought they knew best.
I love Bitcoin, but it really is time to wake up and get with the modern times.
Right now is a huge opportunity for world wide recognition and to ensure its future for the next 20 years. (heck its even making news on every UK TV channel and newspaper - and we dont support BTC over here)
Lets not squander that chance.

Reduce fees 10 fold ! and speed up confirm time and lets fly...if not unfortunately i think it will die - as to the whales / miners / greedy manipulators who ever you are...no use having the most expensive petrol in the world, when we are all running on electricity...

J

[Lamisa asfiya]

Yes.of course, bitcoin fees never come down. Because the price of Bitcoin will increase all the time and definitely the fee will come. People are investing more and more.
People are starting to believe that Bitcoin is a lot of profit for the people. Bitcoin has been rewarding people's confidence. So, bitcoin fees never come down.

[farmer1618]

I also believe Bitcoin fees will never go down, regardless of how Bitcon's value changes. Bitcoin intermediaries need Bitcoin investors to conduct their related trading activities, but they will not reduce Bitcoin fees as Bitcoin trading in the Cryptocurrency market is trending. increasing numbers. If there are more trading floors, with the competition and the purpose of enticing Bitcoin traders to their floor, maybe Bitcoin transaction fees will be adjusted?

[Denzzen]

You can use altcoins for more fast and cheap transaction, though bitcoin is reliable, but on low amount transactions fee is real high for sure.