Damn fees!

[felipe04]

Just wait a little more i think everything gonna be alright like the fork this august 1 btc drop 65% and it almost gone but it's back 120% up.Don't make transaction if you can't accept the fees then make after this problems in fees,nothing gonna happen if you always think negative about bitcoin atleast plan to make big transaction instead a small so even if transaction fees are really high you can still has good and big amount of transaction.

[SMB-2525]

I keep a little BTC on coinbase for transactions.
I realize now that I have to convert to Ethereum or Litecoin for transactions.
More transaction fees.
I launched a small BTC transaction an hour ago with a .00225 fee: I do not control this on coinbase. No confirmations and the fee was 10%.  I was hoping for fast turnaround. At these fees and turnaround times, I might as well use fiat.

170,000 unconfirmed transactions. At 15 per second, we are closing 54,000 per hour.

I should add that my liquid cash is sitting in BTC in coinbase. So even with the high fees I am up on holding fiat. The problem is when I want fast turnaround.  So far, that is not possible so I wil lstart accumulating some etherium.

[Youghoor]

The fees are so high i was looking for a good exchange with less fees, for the moment i know that pay with credit card is more expensive than a bank transfer

Yes of course, but that is not an excuse for doing payments with bitcoin. The price of the fees is insane right now.

It has been more than two weeks since i dont move my bitcoins out because of that.

Do you really think that paying upto $40 for a single transaction is worth it? Of course not, that is why i try to avoid using bitcoin for now.

[Rayner77]

The fees are so high i was looking for a good exchange with less fees, for the moment i know that pay with credit card is more expensive than a bank transfer

Yes of course, but that is not an excuse for doing payments with bitcoin. The price of the fees is insane right now.

It has been more than two weeks since i dont move my bitcoins out because of that.

Do you really think that paying upto $40 for a single transaction is worth it? Of course not, that is why i try to avoid using bitcoin for now.

I totally agree that $40 is a crazy amount and this is honestly getting ridiculous for me as well.

[FreelancerCoin]

I think alternative will take a place of bitcoin that there are more faster transaction with lower commission fees.

[SMB-2525]

OK, I reran my transaction by buying Ethereum and it confirmed essentially instantly.
BTC confirmed after over 2 hours.

So the transaction model is if your trading partner takes an altcoin that your exchange supports is to convert to the altcoin and run the transaction.

BTC is a long term store of value,  I am happy to put my liquid cash there even for a few weeks and take it out when I need it.

[crzy]

Just wait a little more i think everything gonna be alright like the fork this august 1 btc drop 65% and it almost gone but it's back 120% up.Don't make transaction if you can't accept the fees then make after this problems in fees,nothing gonna happen if you always think negative about bitcoin atleast plan to make big transaction instead a small so even if transaction fees are really high you can still has good and big amount of transaction.

It will surely back in normal after the last fork this year. The fees is really high, but if you think the possible return of your investment that is just a small amount. Bitcoin is really amazing and it will bounce back even higher. Its in history and it will surely repeat it.

[UsernameBitcoin]

OK, I reran my transaction by buying Ethereum and it confirmed essentially instantly.
BTC confirmed after over 2 hours.

So the transaction model is if your trading partner takes an altcoin that your exchange supports is to convert to the altcoin and run the transaction.

BTC is a long term store of value,  I am happy to put my liquid cash there even for a few weeks and take it out when I need it.

May I ask how did you Bitcoin transaction clear after just 2 hours?

The current fees state to get your tx confirmed in under 2 hours takes a very large percentage of fees.

Are you really willing to lose such a percentage of your Bitcoin just to confirm your transaction that fast?

[vincentbeth934]

Why would I even pay A WHOLE LOT more just to get my transaction through faster? This shouldn't be how Bitcoin works. Banks are now better and faster than this.

[Dhaaaw]

It's the chinese miners and the coinbase inside traders that are making the transaction fee so high with the network spam so people turn to bitcoin cash and they can earn more. But things are getting kinda better now the transaction fee is lower than 10$ at the moment. Try explaining that now .

[burdagol12345]

I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??

Is this really what bitcoin become? Currency used for miners so they can earn more money?

Will,in that scenario we cannot control that kind of fees,because every transaction that we made,and one this  example is changing fiat to bitcoins, there's certain amount they  put in  every exchanging site's that they want to deduct in your capital,every trading sites have  its own amount of service charge fee's.thats the reality of digital world because its decentralized and not controlled as one .while that  part of the miner  on how they can earn more money because there equipment helps in the block chain to make the transaction smoothly,and fast,maybe in my own opinion miners earns worth of there sevices in the block chain market.

[kenellis2017]

I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??

Is this really what bitcoin become? Currency used for miners so they can earn more money?

When transferring, you can exchange to ETH or LTC as the fee is lower and transaction is quicker.

[CryptosapienZA]

Just the other day, I was helping my niece download a BTC wallet. I had planned to send her $20 of btc and $20 of bch. The BTC amount couldn't be sent on my wallet even though I had more than $200. The fee was soo high because I had recieved the coins through many inputs

[abamatinde77]

i really dont know they doing this..i invest 50k satobsi at gambling site and it's fee? 100k satoshi wtf?

[ivrynx]

i think this is due to a lot of transactions happening daily and the hr number of miners are still not increasing, ever since the value of bitcoin had reached 20k usd, there has  been a congestion in the network and the fees had started to rise, i think miners should also adjust at this time, since the value of bitcoin had dropped. in my opinion, the number of miners should also increase, in order to aid in the congestion of the network, if the fees are still high and there is congestion, people will look for another currency to replace bitcoin and this may be bitcoin's down fall, though it has a high value if not being used as currency and if people are having a hard time during transactions, the value might remain the same, but will be overtaken by another competitor.

[Wind_FURY]

I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??

Is this really what bitcoin become? Currency used for miners so they can earn more money?

Start using Segwit. It is the best technological solution the Bitcoin Network has to help solve the "high fees" problem. I also call for the community to start asking their most used Bitcoin merchants and services to also start enabling Segwit on their side.

Stop using Blockchain.info and start using Green Address, https://greenaddress.it/en/. It is more secure and has Segwit enabled by default.

For other Segwit wallets for mobile and desktop, there is Samourai wallet and here is the instructions how to make one in Electrum.

Generate a BIP39, 12 words seed on https://iancoleman.io/bip39/, you can also use it offline for more security.

On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.

On derivation path path use: m/49'/0'/0'/0

[ethereumhunter]

I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??

Is this really what bitcoin become? Currency used for miners so they can earn more money?

I think you can explain to them what exactly happen with bitcoin plus what happens with the fee (if you know). but yes, this is a big problem for every bitcoin user and I think if this is not going to fix, we have a big trouble in the future. I don't know about this is being used by miners so they can earn more money but I think it is because the network needs more power to confirm the transactions and a small fee will get delay confirming. I hope soon this problem could be fixed so we don't have to face this experience again in the future.

[eann014]

Why it has huge fees in your country? We don't have that huge amount of fees here in our Country when we buy bitcoin it is depend on how much will you going to buy bitcoin, maybe it is your wallet. Make sure that their wallet is trusted before using that kind of wallet.

[Nunoluck]

Why it has huge fees in your country? We don't have that huge amount of fees here in our Country when we buy bitcoin it is depend on how much will you going to buy bitcoin, maybe it is your wallet. Make sure that their wallet is trusted before using that kind of wallet.

We always can set the transaction fee, but I afraid if I set too low transaction fee, my transaction might be not confirmed. Is there any relation between the number of minner and their mining tools hash power with the fee of bitcoin transactions? Since bitcoin transactions are competting each other may be bitcoin transaction can be decreased by the increasing number of minner. How do you think?

[RobertoMakeli]

I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??

Is this really what bitcoin become? Currency used for miners so they can earn more money?

you should exchange to ETH or Litecoin so the fees lower more than use bitcoin