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coinsontheroad (OP)
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January 05, 2018, 01:44:34 PM |
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So I made a BTC transfer yesterday. The fee was $11 and it took less than 5 minutes to confirm.
I am hoping this is a sign of scaling solutions coming to fruition.
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Sosaso75
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January 05, 2018, 01:46:19 PM |
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So I made a BTC transfer yesterday. The fee was $11 and it took less than 5 minutes to confirm.
I am hoping this is a sign of scaling solutions coming to fruition.
Dang thats good news mate...about time in my opinion. |
I am NOT superstitious,but I am a little stitious !
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cetel
Member
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Activity: 72
Merit: 10
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January 05, 2018, 01:47:27 PM |
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Translations done in other violas, come to account quickly
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Gibreil
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January 05, 2018, 01:50:37 PM |
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So I made a BTC transfer yesterday. The fee was $11 and it took less than 5 minutes to confirm.
I am hoping this is a sign of scaling solutions coming to fruition.
Wow! That's good news buddy. I think the bitcoin will now make a solution in the problem of transactions! I hope so, because weeks from now, I will send BTC and I wish it will be successfully transfer without high fees. |
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jseverson
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January 05, 2018, 01:51:36 PM |
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How much did you send? It doesn't look like you're being sarcastic but $11 is a huge fee as you should be able to send transactions for a few cents under normal network conditions. Some people even say that fees reaching $1 is already a sign that Bitcoin is failing.
As far as scaling solutions go, Segwit adoption is being urged, and we're waiting for the Lightning Network. It doesn't look like there will be any immediate relief in the near future, sadly.
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coinsontheroad (OP)
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January 05, 2018, 01:59:23 PM |
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How much did you send? It doesn't look like you're being sarcastic but $11 is a huge fee as you should be able to send transactions for a few cents under normal network conditions. Some people even say that fees reaching $1 is already a sign that Bitcoin is failing.
As far as scaling solutions go, Segwit adoption is being urged, and we're waiting for the Lightning Network. It doesn't look like there will be any immediate relief in the near future, sadly.
It was a $300 send. Dissapointing to hear your news on the scaling delay. |
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xindoa
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Activity: 194
Merit: 12
Staker.network - POS Smart Contract ETH Token
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January 05, 2018, 02:02:15 PM |
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Still a almost 4% fee and that is really high. i'm really hoping they will resolve this soon. i'm not trading in btc anymore just because of the fee
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snipetr
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January 05, 2018, 02:22:38 PM |
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So I made a BTC transfer yesterday. The fee was $11 and it took less than 5 minutes to confirm.
I am hoping this is a sign of scaling solutions coming to fruition.
Thats great. We see bitcoin as future currency, but one of the problem of high transaction fees is main drawback that affect it. So this is good news for all bitcoiners thst decrease in transaction fees. That will help bitcoin to come in main flow of finance sector. Less transaction fee increses demand and routine use of bitcoin. |
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BitcoinSupremo
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January 05, 2018, 02:27:01 PM |
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Still a almost 4% fee and that is really high. i'm really hoping they will resolve this soon. i'm not trading in btc anymore just because of the fee
Maybe it looks like a high price 11 USD for a transaction fee and 4% even for me is a bit on the high side but the good thing is, the price in USD has fallen down considerably, someone did a transaction in Coinbase, he sent 100 USD and the fee was 36 USD so it was an outrageous 36% fee. Comparing both example I am very happy to send 300 USD with 11 USD transaction fee, taking into considerations it was sent with high priority as it confirmed within 5 minutes. I am also assuming if we send with medium fees, the fee should have been 5-6 USD or 1.8-2% which is great if you ask me. |
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coinsontheroad (OP)
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January 05, 2018, 02:29:52 PM |
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I get it about the 4% $11 fee, but I'll take that over a $35-$40 fee and a 2 day wait to send the same amount.
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Coins_Hiro
Newbie
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Activity: 85
Merit: 0
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January 05, 2018, 02:30:11 PM |
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Bought BTC yesterday about $60 only and transferred to Binance and the fee was $16. I was shocked but I've got now choice. I really miss the days that I was able to send BTC to an exchange with 0 fees and that was last year. Hope they could really do something about the fees as it's already worth an investment.
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Dapper
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January 05, 2018, 02:42:34 PM |
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The fees are still ridiculously high if you're comparing them to bank/wire transfers. Just sent $25k with a fee of $668. As to whether any particular individuals needs would interpret that to be a high or low amount, it'll vary greatly from person to person.
Now that transaction cleared within about 40 minutes. By wire transfer (which would have only cost around $35 as a fee; and in many cases no fee at all if you're transferring between your own accounts at some banks... with HSBC Premier accounts for example) that takes up about 2-3 days on average, depending on the destination and up to a week if it's a less developed country's bank. In the business world, 48 hours vs. 40 minutes can mean a great deal, or very little. Look at Fred Smith and FedEx who built a empire and changed the way much of the world works by getting people their packages within 'just' a day or three. One's mileage may vary as they say...
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sent from my X6
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elie_s
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Activity: 112
Merit: 10
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January 05, 2018, 02:46:21 PM |
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The fees are still high but better then sending paper money
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penig
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Merit: 13
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January 05, 2018, 02:56:25 PM |
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Only $11, rejoice! In Europe most bank transfers range from free to pennies.
Nothing has been solved yet, its just lower usage and available space is lowing the fee.
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denzkilim
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January 06, 2018, 02:23:50 AM |
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Still a almost 4% fee and that is really high. i'm really hoping they will resolve this soon. i'm not trading in btc anymore just because of the fee
Maybe it looks like a high price 11 USD for a transaction fee and 4% even for me is a bit on the high side but the good thing is, the price in USD has fallen down considerably, someone did a transaction in Coinbase, he sent 100 USD and the fee was 36 USD so it was an outrageous 36% fee. Comparing both example I am very happy to send 300 USD with 11 USD transaction fee, taking into considerations it was sent with high priority as it confirmed within 5 minutes. I am also assuming if we send with medium fees, the fee should have been 5-6 USD or 1.8-2% which is great if you ask me. I think $11 dollar is considerable but $36 dollars is freaking high man.  The high transaction fees is one of the main problem of bitcoin nowadays and every time the price of bitcoin rises the fee gets higher and higher and it becomes a real pain when you are transferring low amounts of btc's. |
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coinsontheroad (OP)
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January 23, 2018, 11:48:49 PM |
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Just did another transaction. $4.50 to move 1k. 1 confirmation so far.
I like the drop in fees and I really hope it's a sign of what's to come!
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GreatOrchid
Legendary
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Activity: 1092
Merit: 1001
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January 23, 2018, 11:55:23 PM |
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Just did another transaction. $4.50 to move 1k. 1 confirmation so far.
I like the drop in fees and I really hope it's a sign of what's to come!
I just sent $5,000 worth of BTC, 100 satoshis per byte. Total Fee of $2,10 It got the first confirmation after one hour and 36 minutes. This is fair enough.. just two dollars for sending $5,000? Perfect. |
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Hexah
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January 24, 2018, 12:02:35 AM |
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Well that could be a good news to have for but is that connected to the dump bitcoin right now? I see that when bitcoin goes down the transactions just get lowering it's cost too. If that would always go out like that then no doubt we can enjoy transferring transactions just like before for Bitcoin.
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Clark05
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January 28, 2018, 11:27:03 AM |
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I tried to send bitcoin from my bitcoin wallet to exchanges site last few hours ago the fee is $10 compared to the fee last few weeks which is double.
So this is good news to us who always send bitcoin because you can now save more bitcoin. I hope the fee will decrease more and don't increase anymore. For sure many trader now are happy with this good news.
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