|
|
|
|
|
|
|
|
|
If you see garbage posts (off-topic, trolling, spam, no point, etc.), use the "report to moderator" links. All reports are investigated, though you will rarely be contacted about your reports.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
Adbitco
|
 |
April 03, 2024, 11:09:41 AM |
|
Thank you for another fantastic week. Payment received accordingly! @Yamane_Keto you are welcomed to the green home. May your stay here be green as we join hands together to spread the good news about bestchange. Heart you ❤️ |
|
|
|
|
Zaguru12
|
|
April 03, 2024, 03:43:01 PM |
|
However, please welcome Yamane_Keto on board the green team!
Welcome on board mate, let’s make the forum Greeny |
|
|
|
|
|
|
|
adaseb
Legendary
 Offline
Activity: 3738
Merit: 1709
|
|
April 20, 2024, 02:26:04 AM |
|
So as the bitcoin halving went live, the Runes network was launched which uses the op_return option and we currently have $150 transactions fees. As soon as the halving went live we ramped up to 1000 vbyte/sat. Most likely this will cause congestion for the foreseeable future. We might have to turn to an alternative payment method.
I hope I am wrong and this Runes hype dies off but people are paying crazy money now to transact with this network.
|
|
|
|
Upgrade00
Legendary
Offline
Activity: 2016
Merit: 2173
Professional Community manager
|
|
April 20, 2024, 04:02:23 AM |
|
There are other possibilities which could have caused the rise in fees.
One of them is a buzz about you transaction getting included in the halving block, which prompted users to pay thousands of days/vbyte in transactions and a huge spike in incoming transactions at the time, another would be ordinals that has caused fee spikes at different times in the past. Then there's runes,m which was just launched.
Whatever the case fees at this level are unsustainable for those creating them. There has been a drop in incoming txs already and in the next hours to days the fees should normalize to pre halving levels.
|
|
|
|
m2017
Legendary
Offline
Activity: 1792
Merit: 1303
keep walking, Johnnie
|
|
April 20, 2024, 07:36:02 AM |
|
So as the bitcoin halving went live, the Runes network was launched which uses the op_return option and we currently have $150 transactions fees. As soon as the halving went live we ramped up to 1000 vbyte/sat.
Indeed, there is a noticeable jump in commissions. Most likely this will cause congestion for the foreseeable future. We might have to turn to an alternative payment method.
Back to discussing alternative payment methods again? So quite recently this issue was raised for discussion, as a result of which the Bestchange manager decided to leave everything as it is. This problem will pop up with every jump in commission costs. No matter what solution you choose, there will always be dissatisfied people: - delay in remuneration while commissions are restored to acceptable levels (not everyone will want to); - alternative payment methods (not everyone will want to); - leave everything as before (extra burden on the budget). I hope I am wrong and this Runes hype dies off but people are paying crazy money now to transact with this network.
The hype will definitely pass, but the question is how long it will last, because it will disrupt the “ usual way of life”. There are other possibilities which could have caused the rise in fees.
Whatever the reason for what is happening, it is time to prepare to search for a solution, because I would not hope that everything will calm down very quickly. If bitcoin goes into a bullrun phase, as many predict, this will create additional load on the BTC-network. There are more reasons for the worse than for the better. |
|
|
|
adaseb
Legendary
Offline
Activity: 3738
Merit: 1709
|
|
April 20, 2024, 04:26:47 PM |
|
The current pending transaction has a size of 5987 btyes and looking now the lowest fee to get confirmed (being a weekend) is 600 sats/vbyte which is going to cost $2334 at the lowest. From time to time and during the busy week, I suspect the min fee will be 1000 sats/vbyte which will bring the fee to $3891.
Currently ETH network seems to have the most fair fees. Right now its 9 Gwei and during the week it has an average of maybe 15-20 Gwei which would make the transaction cost about $0.50. The reason I choose ETH network is because most people here have used it at least once. The other networks such as Arbitrium, Lightning network, Solana, Tron, I suspect not everyone has used it here.
|
|
|
|
crwth
Copper Member
Legendary
Offline
Activity: 2744
Merit: 1250
Try Gunbot for a month go to -> https://gunbot.ph
|
|
April 20, 2024, 08:29:50 PM |
|
Currently ETH network seems to have the most fair fees. Right now its 9 Gwei and during the week it has an average of maybe 15-20 Gwei which would make the transaction cost about $0.50. The reason I choose ETH network is because most people here have used it at least once. The other networks such as Arbitrium, Lightning network, Solana, Tron, I suspect not everyone has used it here.
Why not try the BASE network? It would really be cheap compared to other networks but it's better than having that kind of enormous fee, you know? Maybe it's really time for a change or a vote? |
|
|
|
|
_act_
|
|
April 20, 2024, 09:57:17 PM |
|
Currently ETH network seems to have the most fair fees. Right now its 9 Gwei and during the week it has an average of maybe 15-20 Gwei which would make the transaction cost about $0.50. The reason I choose ETH network is because most people here have used it at least once. The other networks such as Arbitrium, Lightning network, Solana, Tron, I suspect not everyone has used it here.
Lightning network has a better fee. Ether is an altcoin but Bestchange is a bitcoin signature campaign and not an altcoin campaign. There are many wallets and exchanges that make use of lightning network for payment. I am always surprised that lightning network is not used on this forum for paying for signature campaigns. |
|
|
|
examplens
Legendary
Offline
Activity: 3262
Merit: 3160
Crypto Swap Exchange
|
|
April 20, 2024, 10:24:29 PM |
|
Lightning network has a better fee. Ether is an altcoin but Bestchange is a bitcoin signature campaign and not an altcoin campaign. There are many wallets and exchanges that make use of lightning network for payment. I am always surprised that lightning network is not used on this forum for paying for signature campaigns.
Lighting network are still a bit more complicated to use, I don't think many people use LN, and I don't mean only to newbies in the crypto world. In order for something to be used, it must be easy for non-technical users to use as well. Maybe it's enough proof that we haven't had a campaign so far that will make payment via LN. |
|
|
|
tvplus006
Legendary
Offline
Activity: 2282
Merit: 1655
To the Moon
|
|
April 22, 2024, 08:33:03 PM |
|
Currently ETH network seems to have the most fair fees. Right now its 9 Gwei and during the week it has an average of maybe 15-20 Gwei which would make the transaction cost about $0.50. The reason I choose ETH network is because most people here have used it at least once. The other networks such as Arbitrium, Lightning network, Solana, Tron, I suspect not everyone has used it here.
...Ether is an altcoin but Bestchange is a bitcoin signature campaign and not an altcoin campaign... I think that there will be no violation of the rules if the payment is made in Wrapped Bitcoin (wBTC), which, if desired, can be easily exchanged for BTC. I understand the difference between Wrapped Bitcoin and BTC well, so it's not worth opening a discussion about it here. |
|
|
|
|
_act_
|
|
April 22, 2024, 08:48:59 PM |
|
I think that there will be no violation of the rules if the payment is made in Wrapped Bitcoin (wBTC), which, if desired, can be easily exchanged for BTC. I understand the difference between Wrapped Bitcoin and BTC well, so it's not worth opening a discussion about it here.
Wrapped bitcoin is an altcoin. Other ones that are also pegged with bitcoin price are altcoins. |
|
|
|
_BlackStar
Legendary
Offline
Activity: 1064
Merit: 1228
|
|
April 22, 2024, 09:06:26 PM |
|
I think every participant should be happy to accept payment from this campaign in any form [bitcoin, LTC, stablecoin, etc.] if the managers have already make decisions. It makes sense not to send payments in bitcoin for a while because transaction fees are expensive - so managers need to find solution and make decision if they are really burdened by transaction fees. Personally - I am ready to accept payment in any form, as long as it is best for the campaign and its participant as well. This quote says it all: - We reserve the right to modify/add campaign rules, change pay rate, accept/deny posts, remove/accept participants, and stop the campaign at any time for any reason. We are not obliged to explain any decision taken by our team. Your application to this campaign means you have accepted our rules. Best Regard _BlackStar |
|
|
|
|
GeorgeJohn
|
I think every participant should be happy to accept payment from this campaign in any form [bitcoin, LTC, stablecoin, etc.] if the managers have already make decisions. It makes sense not to send payments in bitcoin for a while because transaction fees are expensive - so managers need to find solution and make decision if they are really burdened by transaction fees.
Personally - I am ready to accept payment in any form, as long as it is best for the campaign and its participant as well.
it should be a consensus to all the participants of bestchange..secondly if we accept payment with litecoin that means bestchange will move to altcoins board because the payment is not in bitcoin... Let our payment should bi-weekly so that the fee will not be that expensive or bestchange should deduct at least two dollars [$2] to each of participants payment weekly in addition with his fee to facilitate the confirmation of all the participants payment..I think the deduction will help to speed the confirmation than receiving payment with altcoins or lighting network. |
|
|
|
tvplus006
Legendary
Offline
Activity: 2282
Merit: 1655
To the Moon
|
|
April 23, 2024, 09:56:17 PM |
|
..secondly if we accept payment with litecoin that means bestchange will move to altcoins board because the payment is not in bitcoin...
Will it be a big problem for you if the BestChange Signature Campaign moves to the altcoin board? In my opinion, the BestChange Signature Campaign has long proven itself on the positive side over the years and no matter where this thread is located, it will always be the focus of attention on the forum. |
|
|
|
zasad@
Legendary
Offline
Activity: 1736
Merit: 4271
|
|
April 24, 2024, 02:08:38 PM |
|
I think that if BestChange takes the Ethereum or Litecoin addresses of the campaign participants and makes 1-2 payments in these coins, due to the large commissions on the Bitcoin network, then this will not be a big violation.
|
|
|
|
|
Adbitco
|
|
April 24, 2024, 03:43:39 PM |
|
I think that if BestChange takes the Ethereum or Litecoin addresses of the campaign participants and makes 1-2 payments in these coins, due to the large commissions on the Bitcoin network, then this will not be a big violation.
You are right about litecoin, but Ethereum transaction fee is also high, litecoin can help reduce the much delay in payment confirmation. For me it would be better he pays with usdt-trc20 this another cheapest means to send out payment maybe after 1-3 weeks when the network congestion may have reduced then he could start paying back with bitcoin as usual I think this suggestions has been made before we don't need to stress over this anymore I believe the manager knows what to do at this moment. The only thing it would cost him is just to moved the topic to altcoin service section, maybe when we gets back to Bitcoin he may then move it back to where it's now. |
|
|
|
m2017
Legendary
Offline
Activity: 1792
Merit: 1303
keep walking, Johnnie
|
|
April 24, 2024, 04:12:43 PM |
|
I think that if BestChange takes the Ethereum or Litecoin addresses of the campaign participants and makes 1-2 payments in these coins, due to the large commissions on the Bitcoin network, then this will not be a big violation.
You are right about litecoin, but Ethereum transaction fee is also high, litecoin can help reduce the much delay in payment confirmation. For me it would be better he pays with usdt-trc20 There are as many opinions as there are campaign participants. Some agree to pay in ETH or LTC, others in USDT-TRC20, and still others in other tokens. Maybe the manager should add a separate column in the table next to each participant with the crypto name (for personal sending to him in this cryptocurrency)?  This is of course a joke. this another cheapest means to send out payment maybe after 1-3 weeks when the network congestion may have reduced then he could start paying back with bitcoin as usual
This option looks the most rational, because why waste the campaign budget once again on overpriced feess, which would be more prudently spent on more useful needs. I think this suggestions has been made before we don't need to stress over this anymore I believe the manager knows what to do at this moment.
If he had known, he would not have arranged the survey quite recently. This is a normal phenomenon when, in response to difficulties that arise, they look for the most profitable solution. In general, this whole situation amuses me a little. I hope the bestchange manager noticed how concerned the participants of this signature campaign are about the project budget , while this problem doesn't directly affect them. People don' remain indifferent, but try to contribute at least with a word. The only thing it would cost him is just to moved the topic to altcoin service section, maybe when we gets back to Bitcoin he may then move it back to where it's now.
It seems to me that these unnecessary section changes will create some headaches and reputational costs. Not critical, but why does a project with 16 years of experience need these movements in order to save a couple of hundred bucks. If my vote counted, I would vote to delay compensation until the commissions become acceptable. I understand that the company will not be poorer even by paying such high fees, but it is better to use these funds for the rational needs of this project. |
|
|
|
|
