pwchan001
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Activity: 118
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January 10, 2018, 11:09:16 AM |
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Yes, the transaction fee of bitcoin is just unreasonably high! I remember that when I made my first transfer of bitcoin (about 0.05btc only) from one exchange to another, 0.004btc was consumed as transaction fee! And the speed of transaction was so slow that I had to wait a couple hours before it reached another exchange’s wallet. After this lesson, I had never transfer bitcoin directly from one wallet to another, instead I would convert it to other altcoins with low transaction fee but high speed of transaction such as Dogecoin and Litecoin before I made any transaction.
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Welcome to feeless future! (https://discord.gg/tdN4ue6) |
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KXC247
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January 10, 2018, 11:10:18 AM |
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I don't see bitcoin as a day to day currency anyway. I See it as a store of value
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D-Fault
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Merit: 10
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January 10, 2018, 11:10:47 AM |
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I stopped using BTC entirely, only deal in ETH now, the transactions are much more faster and cost less money.
True that. I use altcoins also and just hodling my Bitcoins as a emergency ration for the bad situation day.  Not dealing too much with Ethereum really, just exchanging it on the coins I like. I don't go trading with ETH cus it's also less flexible then switching it to altcoin and trading with it. |
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prince05
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Merit: 21
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January 10, 2018, 11:28:06 AM |
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I Have noticed bitcoin transactions has gone up high this few days. But sometimes it also goes down to about 40k satoshis. My technique is just to wait for the transaction fees to be lower before transacting. But this method has caused me a lot of delays as i wait for transaction fees to be much lower. Another way I am doing is to transfer in large amounts this way it will cover the transaction fees somehow. I usually transfer large amounts to trading sites I think their transaction fees are much lower than using an online wallet like Xapo or Coinbase. Just make sure that the transaction fees are already covered from what you are earning that way you will not be below the margin line of your earnings and still earn even if you paid big transaction fees.
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brelok777
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Decentralizing Wealth Building Investment Opportu
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January 10, 2018, 11:34:33 AM |
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Now making transactions in bitcoins is not the most reasonable choice. Commissions are very expensive. If I need to make a translation, then I change bitcoin on the exchange for lightcoin and I'm already translating it. So it turns out cheaper and more profitable.
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kandholabhavna
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January 10, 2018, 11:37:31 AM |
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Blockchain asking me $138 fee for $1k transaction to an external wallet, this is sickness. Is there any way to avoid this fee?
I think its time to quit Bitcoin and move to another good alt coin, Ethereum or Litecoin.
I also read today that China is going to stop Bitcoin mining operations because it consumes a lot of electricity.
Bitcoin's DOOMSDAY is near.
The news about China is that China will be banning bitcoin mining of illegal mining farms, those farms which are operated from residential properties rather than Commercial properties because there is difference is price of electricity for both. |
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filharvey
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January 10, 2018, 11:39:06 AM |
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Yeah, I have avoided transferring bitcoin since the fees got so high and transactions were starting to pile up not even completing within 24 hours. Do you have any reference or links about the news on China? I tried searching with no luck.
Yes.I too heard that China is going to ban bitcoin mining but it has asked the mining farms to gradually stop bitcoin mining. So, there is no immediate threat for transactions. But still, transaction fee is very high. Unless lightning network is activated, there seems no solution for fee to get down.If you can, then wait for some more time. |
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kaeluxdeuz
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January 10, 2018, 11:40:39 AM |
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Bitcoin is looking stuck, and it seems its reached its peak and now settled down at $14k. I believe its time for Altcoins to shine, so i recommend you invest in Altcoins.
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commanderbitcoin
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Activity: 238
Merit: 10
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January 10, 2018, 11:45:49 AM |
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Blockchain asking me $138 fee for $1k transaction to an external wallet, this is sickness. Is there any way to avoid this fee?
I think its time to quit Bitcoin and move to another good alt coin, Ethereum or Litecoin.
I also read today that China is going to stop Bitcoin mining operations because it consumes a lot of electricity.
Bitcoin's DOOMSDAY is near.
BTC is considered as store of value that is why even the fee is so high, people still use and believe in it. What can we do for now is to wait a better fork of bitcoin and hopefully ETH would be available widely like bitcoin where you can use it as a remittance, payments and services in a large scale market. |
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Sjonnebonbon01
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Activity: 43
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January 10, 2018, 12:07:57 PM |
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Until lightning network is active you should hold your BTC, use something like litecoin or vertcoin instead?
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nguyenhoven
Jr. Member
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Activity: 248
Merit: 1
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January 10, 2018, 12:08:47 PM |
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Blockchain asking me $138 fee for $1k transaction to an external wallet, this is sickness. Is there any way to avoid this fee?
I think its time to quit Bitcoin and move to another good alt coin, Ethereum or Litecoin.
I also read today that China is going to stop Bitcoin mining operations because it consumes a lot of electricity.
Bitcoin's DOOMSDAY is near.
this is big issue. i use bitcoin cash now and waiting for bitcoin atom fork |
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upisdown
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Merit: 10
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January 10, 2018, 12:43:31 PM |
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There is no dark future but only it will make corrections from each level.  |
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NutellaboY
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January 10, 2018, 12:45:24 PM |
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I think the dark times are coming and the Civil War of Bitcoin is on the way to our world. Soon it will be two camps: the one which hate Bitcoin and the second full of it's lovers. Just like the Red and White Rose war. |
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tiggytomb
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Activity: 1848
Merit: 1000
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January 10, 2018, 12:46:20 PM |
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The fees are too high and it hurts if you want to send any bitcoin, start to view bitcoin as more of a locked away investment until things change or start using another coin for your transactions, i am just going to leave bitcoin where it is for now and use ltc or one of the other altcoins.
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CryptoBeefy
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January 10, 2018, 12:47:43 PM |
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It'll take some doing for Bitcoin to be dead but they must act as the transaction fees are just too high unless you're sending an astronomical amount of money! I tend to exchange to Litecoin before sending which is just pennies then.
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mayan251
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January 10, 2018, 12:58:38 PM |
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Bitcoin can be added as an asset. If you want to invest, we suggest buying other cryptocurrencies. with a low cost of other transactions
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Jraf95
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January 10, 2018, 01:02:14 PM |
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Bitcoin more like investment to me, i use it for trade and never use it as a payment to anyone, wait to long just for confirmation and the fee getting ridiculous i aint pay more fee than what i send. moving to ethereum is good choice mate keep it like that.
Well that would be good, by moving tokens to ethereum is better than others as I see, and if we talk about ethereum it would be nice to make a wallet that no one knows it so that time to time no one can have it only you. Because if we talk about dark future it would be based if how you deal with, so better not to dark one just keep your wallet safe and that would be your bitcoin last long terms with you not by others hand. And as I've observe from my coworker's which using also bitcoin, they have different techniques so that there money will be safe by using multiple wallet which one wallet will be used when you join some campaigns and the other private one will used only when transferring funds so that only you can handle it well. |
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qazgroup
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Merit: 20
RiveMont
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January 10, 2018, 01:10:44 PM |
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I do not think it is true i sent btc payment recently and i was charged around $17 in terms of usd, in btc it was around 120k satoshi fee.
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Pain Packer
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January 10, 2018, 01:23:39 PM |
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The transaction is fee is so high and the speed is so slow. I think ETH will close the gap with BTC within this year if they haven't solve this problem. More of my friends are switching to ETH and Litecoin because the transaction is fast and the fee is so much affordable.
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whirlcoin
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January 10, 2018, 01:32:18 PM |
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Blockchain asking me $138 fee for $1k transaction to an external wallet, this is sickness. Is there any way to avoid this fee?
I think its time to quit Bitcoin and move to another good alt coin, Ethereum or Litecoin.
I also read today that China is going to stop Bitcoin mining operations because it consumes a lot of electricity.
Bitcoin's DOOMSDAY is near.
Yeah still the fee is very high and it made the bitcoin unusabke for a while.But choosing the wallets will helps to decrease the fee little bit.I am using blockchain.info wallet and coinbase wallet but in blockchain wallet the fee is very very less when compared to coinbase for the same amount of transacting bitcoin.Experts also says use segWit address for reducing the fee further more so we have to use best wallet for low fee. I hope the solution for this issue is implementation of lightning network on mainnet if it take too long to implement then bitcoin will lose its value. |
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