Can't Transfer BTC Because of High TX fee

[Heyyyrenz]

In this past few days/weeks along with the increasing value of bitcoin, the transaction fee is also increasing rapidly until now.
There are lot of people who works through cryptocurrency and using cryptocurrency to make transactions online and to use as a mode of payment. In short we mostly used transaction in the cryptocurrency industry.

There are two types of people in the cryptocurrency:
1. People that transact big amount of bitcoins.
2. Poor people that transact low amount of bitcoin. (That includes me.)

Since the increasement of the transaction fee i am not able to make any small transaction because of the the high tx fee. A good example is I'm going to transfer a 0.001BTC to my friend as a payment and the transaction fee is 0.0016BTC (Low transaction fee.) The fee is higher than the funds i'm going to transfer. People like me is facing a big problem regarding the transaction fee. How about you guys?

[mk4]

Definitely a huge problem with bitcoin right now. I remember those days when I was freely transferring like $5 worth of bitcoin in between wallets with little to no fees when I was first testing things out. Unfortunately there's nothing we can do right now but to wait for lightning network[1], which can potentially fix the scaling issue.

As of now though, make it a habit of looking at how congested the blockchain[2] is so you have an idea on how low or how high you need to set the fees to. Fortunately the current unconfirmed transactions is down to 170,000 from 280,000 the other day.

[1] https://lightning.network
[2] https://blockchain.info/unconfirmed-transactions

[Zackgeno96]

This is very frustrating as the bitcoins transactions are getting really uneconomical and hence this needs to be stop. People are shifting from bitcoins to other cryptocurrencies in order to make faster and affordable transaction. Main motive behind the introduction of the bitcoins has been lost somewhere due to such high transaction fees and slow network.

[mybtcasset]

If u use Blockchain and Coinbase the transactions fees are high Use Luno.com fees are lesser much compared to other wallets

[Juggy777]

In this past few days/weeks along with the increasing value of bitcoin the transaction fee is also increasing rapidly until now.
There are lot of people who works through cryptocurrency and using cryptocurrency to make transactions online and to use as a mode of payment. In short we mostly used transaction in the cryptocurrency industry.

There are two types of people in the cryptocurrency:
1. People that transact big amount of bitcoins.
2. Poor people that transact low amount of bitcoin. (That includes me.)

Since the increasement of the transaction fee i am not able to make any small transaction because of the the high tx fee. A good example is I'm going to transfer a 0.001BTC to my friend as a payment and the transaction fee is 0.0016BTC (Low transaction fee.) People like me is facing a big problem regarding the transaction fee. How about you guys?

Yes it's indeed sad for anyone who uses it, and I can understand the frustration that every one faces. However I feel one can counter this fees impact, by using electrum wallet. Then select the time, I had carried out three transactions during mid day, mid eve and mid night, I ended up paying 12, 6 and 1.45$ in fees which proves it, select your time right and you can save your fees a lot.

[Pursuer]

If u use Blockchain and Coinbase the transactions fees are high Use Luno.com fees are lesser much compared to other wallets

this is a bitcoin payment we are talking about, and in bitcoin you pay network fees, it doesn't matter what kind of wallet you are using. you may as well use a simple code you have written yourself, you will still need to pay a competitive fee compared to the rest of the unconfirmed transactions if you wish to get a fast confirmation in the next block.

and luno.com?!! I have never heard about it. it is safe to stay away from unknown services like this.

[ss890]

I am on the same page as well. Its really getting tough day by day to transfer the amount we receive and then want to send to different location. Im wondering how people are tolerating all these things. Looking at this situation the developers have now set up the LBTC so called Lightening BTC which seems to be going to solve the problem that we are currently facing today. However, I'm wondering how they gonna do it and what kind of fees they will have. It seems to me completely serial strategy to uncomfirm the transaction first and then release a version of BTC that will help others to fasten the network. Seems to me strategy of project development. But they forget that poor people like us are getting burnt in the situation. Its not gonna help us at all.

[rumexx]

I also notice this unfortunate delay in transaction transfer. My own stayed for 72 hours before it could be completed. I think we need more forks to take care of this mess.