Transaction fees going down~

[maxj57634]

I think its because most people are now using SegWit wallet thats why the fees are dropping. With the help of SegWit and the up and coming LN maybe the fees will much more lower than it is today. I did transfer some bitcoin earlier and it was quite fast using SegWit compared to the past few days when im still not using one.

[A1exander]

Yes, and the number of unconfirmed transactions is decreasing. The fastest and cheapest transaction fee seems to have stagnated slightly above 200 satoshis/byte, but, as far as I understand, even 20 satoshis/byte transactions are now feasible (although slow). This may be due to Segwit adoption or because someone stopped spamming the network, or both.

[CHILO20]

A good note for all traders, it's a good chance to expand your portfolios and branch through other exchange.
It will not last, i think it should go up next month or so. The economic environment will be affected with the change, lower fees will not suffice for long without changes on the market price due to underlying factors like players and investors.

[Maveth13]

This is most probably just because there are less transactions being made compared from the past weeks. I'd like to hope that this is because of more people using segwit so that major exchanges and wallets would adopt it, but the adoption rate is still slow.
Honestly, 200+sat/b is still expensive. I guess we'll just have to wait for lighting network even though it's still highly experimental.

[hisslyness]

Just a reminder, now is good time to tidy up your wallets. If you have 1000+ transaction, you may want to combine some of the transaction, for when the comes to move large amounts urgently.

I am currently getting confirmation for 22,168 (bytes) for about 0.00274 BTC. Starting to transfer some BTC to a SegWit Wallet as well.

[eagleman]

Currently it's 240 satoshi/byte but still very expensive to my mind.

This is way better sats/byte than before, I used to pay up to 1000sat/byte just for an instant confirmation. It's still expensive but it's better than nothing happened and was improved.

[gabmen]

Currently it's 240 satoshi/byte but still very expensive to my mind.

This is way better sats/byte than before, I used to pay up to 1000sat/byte just for an instant confirmation. It's still expensive but it's better than nothing happened and was improved.

Indeed this is a big improvement from december's fees. And the time it takes for it comolete is also something to be happy about. Hopefully this continues so we won't have to go through buying alts to make cheap and fast transfers.

[giveen]

That's good even i was shocked i sent few transactions with fees at 50 byte and it got 3 confirmations in just half an hour , this is surely because of few developers working behind the scenes , with this one thing is surely proven that hard fork don't have any effect there are created for the developers income only bch was a healthy fork till date and i do feel it can reach at $10k if this support continues.
Btw i use this site for the amount of fees would be suitable: bitcoinfees.earn.com .

[vasrasus]

That's good even i was shocked i sent few transactions with fees at 50 byte and it got 3 confirmations in just half an hour , this is surely because of few developers working behind the scenes , with this one thing is surely proven that hard fork don't have any effect there are created for the developers income only bch was a healthy fork till date and i do feel it can reach at $10k if this support continues.
Btw i use this site for the amount of fees would be suitable: bitcoinfees.earn.com .

I was also shocked, before the dips happen I made a transaction and by thay time the fee were too high even you choose the slowest option, but now, just today, the fee were quite unnoticeable, i mean too low than before, i guess it's a good start to buy more alts sonce yransaction fees were allowing us to niy at low fees too.

[sjefdeklerk]

You do realize this is because people are using BTC LESS than before?

[TTITA]

I usually take the stats from https://btc.com/stats/unconfirmed-tx and https://blockchain.info/unconfirmed-transactions graph, if unconfirmed tx is still in the number below 80k, then the tx fee will be more cheaper and quickly will taken by miner into the chain. Yes, low fess and fast confirmed this is what we want from this. But we need to realize, by the time many people will using Bitcoin for doing daily trading and it will increasing daily tx on network.

[MaskOffFuture]

I think its because most people are now using SegWit wallet thats why the fees are dropping. With the help of SegWit and the up and coming LN maybe the fees will much more lower than it is today. I did transfer some bitcoin earlier and it was quite fast using SegWit compared to the past few days when im still not using one.

People were already using segwit blockchain. Only few people were using legacy blockchain and they started to leave it as you know. The reason, there is less spam transactions on btc blockchain now.

[DustyRah]

Using the segwit wallet did make quite a bit of difference as compared to the legacy. I think this whole fiasco of high transaction fees would have helped by forcing people to move their funds into Segwit wallet and use that going forward. I hope Coinbase and other exchanges get started with segwit as soon as possible as well.

[marcbitcoins]

Looking at the graph below from https://dedi.jochen-hoenicke.de/queue/#30d the transaction fees have dropped significantly. Not exactly sure how to read this chart though.

In addition, the transaction is fast now in which it reach my wallet destination within 30 minutes even if i just pay for default service fee only or their minimum flat charge but before its usually to reach 3 to 5 hours in our local wallet. Maybe the transactions for this month are fewer than the last month in which more likely a panic sealing making the blockchain to become traffic and expensive, then maybe but i dont know if exchanges competation is to be consider too.

[crzy]

Its cheaper now and a little bit faster than before. This is a great improvement that bitcoin should keep on doing in order for him to remain on top. We will see more improvements for sure in the comings year, specially when lightning networks execute. The good thing right now is, the price are still low so better to grab this opportunity now and make profit soon.

[alyssa85]

Part of the reason the fees were so high is that some of the wallets were overestimating how much you needed to pay to send coins. That created a knock-on effect as others had to send even more to get their transactions verified.

People really need to check the mempool first and set their fee manually rather than simply accepting the fee suggested by their wallet. 

[sjefdeklerk]

There's just 50% less BTC transactions: https://blockchain.info/nl/charts/n-transactions

People stopped using it because of the extreme fees and therefore it got cheaper again. Once they start using it again, same thing

[Murloc]

Always get your current fee information here, then set it via custom settings in your wallet...

https://btc.com/stats/unconfirmed-tx

Damn, it shows 70 sat per byte right now.Seems like I can finaly move my coins without accelerating them for an extra day.
No doubts thta the news are great but the mitcoin market cap surged greately foe the last time, which means that most people simply quited crypto or hodling for better price without making any transactions. The fee will definetely rise when the bear market end. I'm looking forward to the lightning network.

[cindygirl]

There's just 50% less BTC transactions: https://blockchain.info/nl/charts/n-transactions

People stopped using it because of the extreme fees and therefore it got cheaper again. Once they start using it again, same thing

Things will always go in swings and roundabouts like that until an equilibrium is found. I think there's more behind the reduced transactions than just the fees though. The market itself has been in a bit of a slump and there will inevitably be less transactions when that's the case.

[Fredomago]

There's just 50% less BTC transactions: https://blockchain.info/nl/charts/n-transactions

People stopped using it because of the extreme fees and therefore it got cheaper again. Once they start using it again, same thing

Things will always go in swings and roundabouts like that until an equilibrium is found. I think there's more behind the reduced transactions than just the fees though. The market itself has been in a bit of a slump and there will inevitably be less transactions when that's the case.

Yes indeed, until the permanent solutions has been found, we will continue seeing the changes with transaction fees, let us just enjoy it for a while and hope that the core will make it permanently and if this will get stable for sure it will drive more investors and businesses to use this digital currency,
lets always hope for the best and for the benefits of the most.