Fees high

[rodskee]

Fees after halving were ridiculous! I've been so used to send transactions with a 1 sat fee that my transaction got stuck in mempool for 10 days! not to mention having to pay like $3 fee for a $5 transaction. That's why ETH has gained so much momentum lately.

I've sent more than 1000$ for less than 10 cents fee just because I've waited a cool down period. Of course, this is not always possible.
Also the fees are not related to the value you are transacting, so the 5$ and 1000$ figures are useless.

And also Ethereum network is pretty much crowded too lately and I fear that if the trend continues sooner or later you'll face the same issues on ETH.

It's a matter of when the network is crowded and when you pay less fee, your transaction will likely delay for more than an hour or worse in a day. I already experience such as this when I tried to send fewer transaction fees when the network was crowded, it's the time when the BTC price was rising and it feels like everyone us trading BTC. I thought I won't gonna make it that day cause it delayed too long that I expected.

Congestion is that it?yeah i have witnessed this from 2017 and now happens again couple of weeks back.in 2017 i
experienced this High fee when i withdraw just .005
bitcoin but it cost me almost 1/4 just to make the transaction faster and this is really sucks and now i use to this
and don't bother being anger when the fees goes
high,i still use the 1 sat/byte even if this took me 3-10 days because i know this will pass and in days things will
 back to normal like now ,and also soon when things
 are being better and with the help of Lightning Network fees will run down and
everyone will be happy again.

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[Skieleton]

The average Bitcoin transaction fees were still at the beginning of the year at the level of USD 0.28. This means that at the current average of USD 4.092, an increase of over 1 325% has been observed.

[Joyawan13]

The fees are high because we converted it in USD and the value of bitcoin is too expensive so the fee look very expensive too even though bitcoin fee is still the same as before. If you realy want a lower fees you always find a way in some good and trusted altcoins like, XRP, DOGE, ETH and more out there just convert it to altcoins and withdraw it.

yes I agree, and one of the other alternative ways to avoid expensive fees by making transactions or withdrawals, we can use by choosing to use altcoin which of course the cost is not as expensive as using bitcoin, the expensive cost on bitcoin does make sense because the estimated price of bitcoin is very high However, for withdrawing large amounts I still choose to use bitcoin even though the cost is very high.

[coinfinger]

Fees are still high.  I don’t think bitcoin is only for early miners who have a lot of bitcoins, and for rich people’s who have a lot of money they both can pay as High fees he wants. We have to focus on whole users wich don’t have *million of bitcoins and can’t handle such a high fees.

You're right about that. There is one of my friend that is still new to Bitcoin and he told me to send him some bitcoins so he can send money to my bank account, and I did. He didn't tell me that he was going to use it to make a transaction that night. He was trying to learn how Bitcoin wallets works and he tried to make a transaction from his Blockchain wallet to his Luno wallet and was charged $2 dollars for fees lol. He freaked out that I never told him. The amount he sent was just $5 and he was charged that much. I tried to let him know that it only happens when the Blockchain is congested.

High fees sometimes drives us too crazy. Not sure how long segwit addys will remain a solution for blockchain congestion.

[RapTarX]

The fees are high because we converted it in USD and the value of bitcoin is too expensive so the fee look very expensive too even though bitcoin fee is still the same as before. If you realy want a lower fees you always find a way in some good and trusted altcoins like, XRP, DOGE, ETH and more out there just convert it to altcoins and withdraw it.

You have no idea how shit you are talking. Recently, with the pump of BTC, fee has been increased significantly. Where it was possible to get included your tx in next block with 1 sat per byte but recently it was more than 100 sat per byte. Wasn't the fee increased?

[bithisach]

The fees will not be fixed and it's unlikely that we see it happen. The two solutions that we can do as of the moment were mentioned.

Convert to an altcoin but seems you don't like the idea.

Pay with low fee but it will take time.

I don’t understand why people constantly complain about high fees, which they really aren’t? Bitcoin is not designed to be sent completely for free, and the biggest problem is that some think the maximum fee should be $0.10, always.

They don't see that it's much cheaper than the payment processors that we commonly used and takes about a day or two or even a three to arrive.

I think the second idea there is the best jossiel, send low fee and wait. I've had very low sat/byte transaction clear after a few days (5 sats/byte cleared in 5 days), it's not optimal, but it's better than paying exhorbitant fees. It's better than the alternative where we only pay the high fee and don't have options at all. Good luck, hopefully fees come down in time.

[Naughty Princess]

The fees are high because we converted it in USD and the value of bitcoin is too expensive so the fee look very expensive too even though bitcoin fee is still the same as before. If you realy want a lower fees you always find a way in some good and trusted altcoins like, XRP, DOGE, ETH and more out there just convert it to altcoins and withdraw it.

yes I agree, and one of the other alternative ways to avoid expensive fees by making transactions or withdrawals, we can use by choosing to use altcoin which of course the cost is not as expensive as using bitcoin, the expensive cost on bitcoin does make sense because the estimated price of bitcoin is very high However, for withdrawing large amounts I still choose to use bitcoin even though the cost is very high.

Even it is high, you do not have any choice if you are really want to get bitcoin. It is all the same expensive fees whichever exchange you are using but withdrawing higher amount is the way to lessen to use of fees. Or convert coins on altcoin that has lesser fee like eth and xrp as stated.

[oleg681010]

Fees are too high in many crypto wallets and exchanges, and I think this will change soon. The market is changing.

[Mehedi72]

it's really annoying when we have to pay high fees even for transacting lower amount of bitcoin. using altcoins instead of btc is good idea but that's also annoying. And bitcoin is bitcoin after all. Providing low fee will be a good decision if you want to transfer lower amount of bitcoin. Hope  lightning network & exchanges  will take some helpful steps overcoming the problem, soon...

[witcher_sense]

it's really annoying when we have to pay high fees even for transacting lower amount of bitcoin. using altcoins instead of btc is good idea but that's also annoying. And bitcoin is bitcoin after all. Providing low fee will be a good decision if you want to transfer lower amount of bitcoin. Hope  lightning network & exchanges  will take some helpful steps overcoming the problem, soon...

Bitcoin block is small enough to incentives bitcoin network participants to pay high fees. However, you have to pay only if you want to compete with others to be included in the first blocks. No one forces you to use an option of faster transactions, it is always up to you. That is necessary part for decentralized network to work this way, otherwise there would be a mempool with many umconfirmed transactions that have equal fees. Bitcoin is about a free market in which prices are indicators of supply and demand. If there is a high demand for block space, prices are high. If demand is low, you don't have to pay much.

[Nhor1011]

If you really want to get bitcoin then you have no choice but to fee a higher fee for your every transaction. But if you want a lower transaction fee you can exchange your bitcoin first to altcoin before you're going to make a transaction. Also higher fees of bitcoin is only based on bitcoins higher value as you can see above all coins in crypto market.

[vaultman]

This is the main reason for the loss of bitcoin to competitors. ETH much better. Low fees and fast speed of transactions. I think there is no future for bitcoin

[ghost424]

These fees actually decide on how much service do we want our Cryptocurrencies to be handled. In some exchanges, fees are standardized and they are given guidelines on how much time would it actually take for the Crypto to travel from one place to the other BUT it is certainly disturbing that high fees are costly. High fee's needs to be handled in someway possible.

[Gaaara]

That is true, but the thing about bitcoin and cryptocurrencies its not the rich that benefit from it the most, I know people who got millions out of cryptocurrencies and they've been doing well in their life, they don't have that much money nor they are mining cryptocurrency but they found a way to earn.

What my point is, bitcoin or any other cryptocurrencies creates opportunities and contributes to economy of each respective country.

[spike420211]

I would like to see a little specificity in support of your position.

If we compare the fees on the Bitcoin network with the fees of banks, even those users who operate with small amounts are more profitable than any traditional methods of sending money.
Yes, there are a number of difficulties in terms of confirming transactions and network congestion, but nevertheless, choosing a commission size allows you to expand the capabilities for transactions of any size.

[Leviathan.007]

Fees will go high after a high usage of Bitcoins in the market, usually after a huge movement in the Bitcoins price because many trader will sell/buy and many users will transfer their funds to another wallet. But, regardless to all I said I guess you can still transfer your Bitcoin with a very a small amount of fee if you use the new generation of wallets Segwit and Lightning Network easily.

[chrisvl]

Approximately 0.0007 (10$) fee per transaction..

[abyan@83]

it's going to be a big deal when someone only has a little bitcoin. But the best solution is to exchange bitcoin for altcoin for a cheaper fee. Currently the most expensive transaction fees are bitcoin and ethereum. So avoid transactions using it.

[Yogee]

it's going to be a big deal when someone only has a little bitcoin. But the best solution is to exchange bitcoin for altcoin for a cheaper fee. Currently the most expensive transaction fees are bitcoin and ethereum. So avoid transactions using it.

This only applicable when your BTC is on exchanges.

Approximately 0.0007 (10$) fee per transaction..

mempool.space estimates around $4 [200+ sats/vb] for low priority transactions right now. That's still considerably high if you compare it to previous weekend transactions. The mempool will probably clear up a bit by Sunday or Monday. Seriously, traders needs to take a little break.

[verita1]

So is! The Bitcoin network is congested. I wish it would be resolved within a few days. If it is not decongested I would have to exchange Bitcoin for Ethereum to get some Fiat that I normally do every week.
One day we will have a solution to these network problems when there is always a lot of demand. First it was Ethereum now it is Bitcoin.