Transaction fees going down~

[DustyRah]

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.

[Enjel]

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.

Along with lower transaction fees, and South Korea not banning crypto, and Wall Street shorts closing this Friday, I think we're going to see a nice recovery soon.

[shield132]

Currently it's 240 satoshi/byte but still very expensive to my mind. Of course it's low compared to 940 satoshi/byte but miners just want much money, it will have a nice recovery soon or after segwit and so much panic it won't be as high as it was, maybe 400-500 satoshi will be optimal for regular period of price will continue to rise, otherwise if it falls, transaction fees will be like this or a little bit low.

[Leahhhh]

I am thinking of selling one bitcoin which is currently in a paper wallet. If I import it to a Blockchain wallet, how much will I have to pay in fees to do so?

[alyssa85]

Currently it's 240 satoshi/byte but still very expensive to my mind. Of course it's low compared to 940 satoshi/byte but miners just want much money, it will have a nice recovery soon or after segwit and so much panic it won't be as high as it was, maybe 400-500 satoshi will be optimal for regular period of price will continue to rise, otherwise if it falls, transaction fees will be like this or a little bit low.

If you are prepared to wait a few hours, try the lower fees and just be patient your transaction will go through. The best time to do transactions is on the weekend - for some reason overall transactions are lower and the mempool starts to clear pretty fast.

[cryptorampage]

That's a good news although. In past few days it's read too much higher. It's shouldn't be . 2000 sat/b is way much higher for faster transaction ,or we had to wait too many hats for complete transaction . Now it's good to see the dates cheap transaction. Thanks to miners

[ASHLIUSZ]

Comparatively the transaction fee has decreased a lot than the days of much increase which happened weeks ago when the network congestion was experienced high. During those days users too ignored the transaction fee because of the increased price standing above $16000.

[Tstar]

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.

Fees are going up with every attack against Bitcoin and then when the attack is over, they are back to normal. I guess some people have too much money and are bored.

[HasHe]

That's really a good progress.This situation would improve more if all of us start using Segwit addresses completely.It was really a bad time to pay such a high fee of dollars for even lower amounts.

[TastyChillySauce00]

Currently it's 240 satoshi/byte but still very expensive to my mind. Of course it's low compared to 940 satoshi/byte but miners just want much money, it will have a nice recovery soon or after segwit and so much panic it won't be as high as it was, maybe 400-500 satoshi will be optimal for regular period of price will continue to rise, otherwise if it falls, transaction fees will be like this or a little bit low.

You could actually modify the fee below the 240 satoshi/byte and still expecting the transaction to get confirmed with "normal" speed. What makes the fees keep sticking at 240sat/byte is that many exchanges and platforms still keeping their "expensive" fee and didn't update it to the latest.
To prove it, see https://bitcoinfees.earn.com/. Just minority of transactions still sticking with 240 sat/byte fee while the rest are switching over to more cheaper fee with normal speed.

miners just want much money

No, people who want their transaction to be prioritized by paying ridiculously high fee and spam attack are the factors that could trigger the ridiculously high fee.

[Baofeng]

Because the network spam has somewhat stopped. Or it could be that there are less transactions, or people are moving to Segwit already. I try to test it myself (legacy address) today and pay around 300 satoshi/byte, and it was instant (well probably < 7 minutes). That's was the quickest transaction I my so far. But I still prefer Segwit, way way cheaper.

That's really a good progress.This situation would improve more if all of us start using Segwit addresses completely.It was really a bad time to pay such a high fee of dollars for even lower amounts.

Yup, using Segwit should be the norm now. You don't have to pay high tx fees and it will gradually reduces the network the traffic.

[HatakeKakashi]

Im very happy and little satisfied of the transaction of the transaction fee of the bitcoin in the coinbase the fee is 0.0005 only comapre to last few weeks which is 0.001 plus and that's not good to us who have little income here in bitcoin. I remembered last few hours ago the transaction fee is only 20k satoshi.  I hope it will happen again the fee like that not 0.001 I hope the fee as of now of 0.0005 will decrease more so we can send bitcoin where ever we want. I think that's why other people not buying bitcoin because of the fee which is high so if they send bitcoin they less their capital.

[player514]

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.

Transaction fees going down could also mean a bad thing.

If the transaction fees are going down, it's possible that fewer people are using bitcoin in day to day transactions. You can probably already tell that this isn't a good thing if you're a proponent of blockchain technology. We need more people using Bitcoin so that the value of it can increase due to increased support of BTC.

[vintages]

Well, it's such a welcomed development. Basically, I have stopped keeping tabs on how high or low the transaction fee of bitcoin is because I stop using my bitcoin for trading and also have a segwit ready address. I think the reduced transaction fee could be as a reduction in the flow of bitcoin or probably many people are holding now since the price have been unstable recently.

[lili song]

Yesterday I do transactions, but I see the cost still same. I don't know if another country the fees going down.
I hope the fees will going down, so we can do transactions by daily. My transactions before the fees is up much.

[Deeyoh]

Plenty of BTC traffic.. unlike the other empty highway.   Probably more to do with exchanges batching and certain mining pools stopped spamming.  

https://txhighway.com/  

[dewi91]

That's really good, hope transaction fees stay in low fees because I felt difficult when transaction fee so high, that's cut some money from my profit.. I think may be soon we can see bitcoin reach up to $ 20k, will be great combination if bitcoin price recovery and low fee transaction.

[ktabb]

It's still expensive but definitely declining, which is great for bitcoin. I'm not sure why transaction fees/times are going down.

[pooya87]

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.

not sure why you posted this here!
the way you read the chart is that if you want to estimate the fees you should pay, then you use the first (the topmost) chart called "Unconfirmed transction count". you move your mouse over the chart and see how many are paying how much.
the chart you posted is the total amount of fee sorted by fee/byte that the transactions are paying. for example the latest point on the chart shows the total fee is 7.172BTC and for example transactions paying 100+ satoshi/byte pay a total of 0.796BTC of this 7.172BTC

[MNDan]

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

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