question about transaction fees...

[pacman7331]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

[1714930897]

1714930897

[supermine]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

[Bigchuck]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

[Hamphser]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

I rather believe that it would be just an estimation but the truth is no one really knows on when fees would decrease because if you do make microtransactions as of these days then it will surely hurt you considering on the amount that you would paid up for fees itself. I don't know what would be the best solution for this since we cant do anything about it because miners are the only ones who can able to set-it out.For now theres nothing we can do but to wait for fees to settle down.

[LuanX3]

I guess right now bitcoin as a way to move small amounts aren't the best thing. The transaction fees are quite high due to the congestion in the memory pools. This might not be resolved in the near future, but likely another push for a fork will happen due to this. I will hold out right now as the fees will totally be not worth it to move your bitcoins. This is not caused by ANX by the way, it is really because of the current situation of the blockchain.

[Baofeng]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

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Why do you believe this issue will be solved within the week?

I think he is speculating that maybe next week, the network is not that decongested as compare to the current situations that we are in. But as per the current mempool count, it's down to 100K unconfirmed transactions. So based on my experienced it will be fairly quick if you will send it today. But I don't know why the fees they are charging are high though. For me a 10% fee is fairly high already. So they should be charging like 20$. I guess they are charging so that your transactions can be pick up in the next 5 blocks or less.

https://blockchain.info/charts/mempool-count

[pereira4]

Before sending a transaction, look at the mempool. I find this website very useful:

https://jochen-hoenicke.de/queue/#30d

As you can see, we have a massive peak on December 22. Now it's getting better. $60 is nonsense currently.

I always use the Bitcoin Core automatic fee calculator and it always goes through, but you can use this webpage:

https://bitcoinfees.earn.com/

According to it, the fastest and cheapest transaction fee is currently 690 satoshis/byte, shown in green at the top.

[Headachez]

Before sending a transaction, look at the mempool. I find this website very useful:

https://jochen-hoenicke.de/queue/#30d

As you can see, we have a massive peak on December 22. Now it's getting better. $60 is nonsense currently.

I always use the Bitcoin Core automatic fee calculator and it always goes through, but you can use this webpage:

https://bitcoinfees.earn.com/

According to it, the fastest and cheapest transaction fee is currently 690 satoshis/byte, shown in green at the top.

Nice resource there! I'll book mark that.

[BartS]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

The issue with the fees is not going to be solved in a week in fact all the drama with the forks in this year was about how to solve the problem of the huge fees, however, the problem of the fees is made even worse because someone is spamming the network for a lot of time we have believed the miners are behind this in order to get more money from the fees and that is why the devs created and offchain solution.

[Anco_Marzio]

This is a real problem, as one of the advantage of bitcoin was exactly the low cost of transactions.
If the issue won't be solved, there is the risk that bitcoin will crash.

[BossMacko]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

It is indeed happening with Bitcoin, Bitcoin has the highest transaction fee right now but it also has the biggest price. The fee changes eventually if you will just wait for sometime and if you are always checking from time to time the change on transaction fee.

[weav]

Yes this is a big problem of bitcoin , not only the prices of the transactions. But also the time it takes for the dev team to come to a agreement on improvements is ridiculously long.

[btcmayumana]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

Because busy traffic may happen when got holiday or weekend coming. Next week are still new year date, so these could be still many pending transaction. Maybe after 1 month, everything back to normal. On my opinion, i think this conditions happen by some development of fork bitcoinplatinum and superbitcoin in last few week ago which many people using the transfer with small fees, they hopes can includes in Block 498888 for SBTC.

[pikecara]

Transactions are large i dont think it is a scam sign

[Drixy]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

If you have inputs about the received balance or funds then your transaction fee if your going to transact will be higher than normal cause you have recents on transactions and bitcoin is still big so its normal for now.

[kyanscadiel]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

actually that's true. Transaction fee right now is very high almost half of your money. The reason is because of the traffic on the network itself and there is nothing we can do about it but to wait for it to be resolved. I just hope it go back to normal fees like before by the year 2018.

[Flor1982]

I have like 200 $ in bitcoin on ANX. I wanted to transfer that to Binance exhange and I saw that if I wanted to I could only send like 140. Is the transaction fee really 60$ to send coin on bitcoin now? Or this is something ANX is doing? I can't see how that will pass as acceptable. Might as well use bank transfers, cheaper!

Yes bitcoin fee is too high at the moment because of traffic on blockchain network but I hope it will be resolved soon so don't send your bitcoin unless it is an emergency need for money because you will lose big amount in for of fee.But the problem will be solved soon so the fee will get reduced soon maybe in a week.you can send your transaction with low fee but it may takes some days to get confirmed.

Why do you believe this issue will be solved within the week?

This is just his presumption but it is possible to be true because the reason why there is a heavy traffic happening in the blockchain is because of the holiday season that people need to sell their BTC for fiat to spend on Christmas and the new years preparation. In addition, the occurrence of btc crashes in which makes panic to some people to do massive btc transactions but maybe next year it will be all back to normal now including the traffic.

[arrivabazza]

After the hardfork everything can go back to normal don't cash unless you really need the money

[Akash1243]

Well now transactions fees now is too high because the traffic is lot on the blockchain network and if you want to get the transaction confirm fast then pay more to get priority.So try not making any transactions and wait for the network's traffic to get less.Lightning network would definitely make transactions fees less and confirmations speed high.

[Nana_Marini]

Sure that if we want to transfer, we must give charge for the bank, and one bank with the other bank is different. I think it is small outcome to transaction. We can imagine that if we have amount of money and we can replace to our wallet (or can not transfer). What happen? We can not use for transaction right