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Author Topic: Wow - fees too high!  (Read 334 times)
RawDog
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February 14, 2018, 09:12:46 AM
 #1

Talk about getting your ass kicked by fees! 


How can Bitcoin fix this to compete?

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onnz423
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February 14, 2018, 09:26:54 AM
 #2

Are you a shill for the Bitcoin cash pump and dump?

Current bitcoin fees are as low as 10sat/b and are being confirmed very quickly;

https://bitcoinfees.earn.com/

This is the lowest they have been in a long time, I think Bitcoin is improving drastically, probably due to the push for segwit adoption.

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RawDog
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February 14, 2018, 09:39:52 AM
 #3

Current bitcoin fees are as low as 10sat/b and are being confirmed very quickly;

https://bitcoinfees.earn.com/
That is just a theoretical scam.  The fees in the picture are the actual fees people pay.  Your 10sat/b is just a theory based upon a bunch of crap the might happen in the future like people actually using Lightning when it gets here in 2027. 

IPayYou is a real system on which you pay real fees like $2.02.  It is not some theoretical bullshit. 

I am not a shill.  I just hate stupid fucking fees. 

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February 14, 2018, 09:46:43 AM
 #4

I think they are improving their security to avoid the phishing incidents in the cryptocurrency industry like what happen in different countries. Just my opinion but I hope I am right.
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February 14, 2018, 09:49:09 AM
 #5

Fees are getting lower in the last month.

RawDog
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February 14, 2018, 09:59:56 AM
 #6

Fees are getting lower in the last month.
Yeah, the fees used to be $45 per Bitcoin transaction.  Thank God they are only $2 now.  Wait a minute - shouldn't they only be about $ .02?

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February 14, 2018, 10:15:43 AM
 #7

Talk about getting your ass kicked by fees! 
https://i.imgur.com/sXiLpbc.jpg

How can Bitcoin fix this to compete?
I agree with you, the fees is way to high and I don't think this was the purpose of the bitcoin.
If I want to send a small amount of money the fees are actually be doubling what you send and it is not making any sense.
But I believe it will get fixed soon because if not people will never use bitcoin as payments.
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February 14, 2018, 10:19:06 AM
 #8

Fees are getting lower in the last month.
Yeah, the fees used to be $45 per Bitcoin transaction.  Thank God they are only $2 now.  Wait a minute - shouldn't they only be about $ .02?

stop talking shit. fees can indeed be 0.02$, and the transaction gets there. your bitcoin cash buddies failed to break bitcoin.

now run away little puppy...

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lananh1997
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February 14, 2018, 10:29:10 AM
 #9

Feeling tired with the charges too high.Phic when withdrawn and loaded bitcoin even higher than the government tax.
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February 14, 2018, 10:49:39 AM
Merited by Lucius (1), TheQuin (1), BTCforJoe (1)
 #10

IPayYou is a real system on which you pay real fees like $2.02.
I can setup a real system in which you pay real fees of $200, but that doesn't mean anyone should use it.

https://coinb.in/#fees currently shows a recommended fee of 5 Sat/Byte, to be confirmed within a few blocks. For the smallest possible Bitcoin transaction, that's 0.00000720BTC (720 Satoshis or $0.06):


You can probably go lower than that too, the last block had a transaction with 3.142 Sat/Byte ($0.06 for 218 bytes transaction) confirmed in 4 minutes.


Bitcoin has it's fee problems, but not at this moment.

romanovst
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February 14, 2018, 11:02:44 AM
 #11

I will be happy as the Bitcoin transaction fees are now coming down. This is much needed requirement for it to survive it in long run. It should be used worldwide as mode of payment and we need lower fees for that.
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February 14, 2018, 11:05:13 AM
 #12

because the bitcoin's price is so high nowadays that the transaction fee is low so you just love the fee now every time you send bitcoin to someone else

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February 14, 2018, 11:05:59 AM
 #13

Here's a transaction where someone spent 855 satoshi ($0.07) to send 2 bitcoins ($17,500) in 6 minutes.

I agree that Bitcoin fees can be ridiculous at times, and that it seriously needs fixed or it will lose its number one spot, but if you are paying $2 to send $200 then you are being scammed by iPayYou.




Nilda
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February 14, 2018, 11:08:46 AM
 #14

There are two things certain in life, death and taxes. For cryptocurrency traders, you might wanna add high transaction fees.

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February 14, 2018, 11:12:21 AM
 #15

IPayYou is a real system on which you pay real fees like $2.02.
I can setup a real system in which you pay real fees of $200, but that doesn't mean anyone should use it.
[....]
Bitcoin has it's fee problems, but not at this moment.

Maybe you guys took the screenshots at different time points. Fees in bitcoin fluctuate really much and at times it may be as low as 20 cents, at other times it may be 20 dollars. I agree that currently fees are rather low, but as you yourself admit - the problem is there.

Looking forward towards seeing the impact of LN on fee problem. My prediction would be that LN can lower the onchain transaction fees too, by taking some of the demand off-chain.
agook
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February 14, 2018, 11:16:36 AM
 #16

Talk about getting your ass kicked by fees! 
https://i.imgur.com/sXiLpbc.jpg

How can Bitcoin fix this to compete?

That's a good difference. Bitcoin Cash has good chances to take over Bitcoin.
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High fees = low BTC price


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February 14, 2018, 11:19:03 AM
 #17


How can Bitcoin fix this to compete?

Fees are actually decent right now, you can set from 0.4$ up to 3$ and still have a nice transaction time without paying a shitload of money.
[/quote]

Yes but the damage has already been done and it will be remembered that the development team sat on it's hands and
allowed fees to hit $55 and came up with excuse after excuse for doing nothing and now its excuse after excuse as to why
bitcoin is headed down and they can blame China, Japan and anyone else but it comes down to a system that is slow and
won't scale and fees.

Lightning is going to be the killer blow because its obvious to those that look that it's just a system of banking hubs
that will rip people off even more once they get going

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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February 14, 2018, 11:19:38 AM
 #18

Talk about getting your ass kicked by fees! 


How can Bitcoin fix this to compete?

I'm surprised because the bitcoin mempool has been clearing (we've been getting very fast blocks in the last few days). You shouldn't need to pay more than a dollar at the moment, and often less. I reckon that site is over-charging.

 
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Eraldo Coil
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February 14, 2018, 11:21:42 AM
 #19

I also noticed this. Even in MyEtherWallet my friends told me that the transaction fees are higher than it used to and it makes me sad.

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February 14, 2018, 11:27:30 AM
 #20

The question is, how would Bitcoin Cash address the same issue if it ever got to the same value and usage as Bitcoin currently has?
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