Very high fees - bitcoin fails

[pinggoki]

Of course there are fees whenever you are making a transaction in bitcoin but what I am trying to say is that the very high fees are kind of hard to make because imagine you will just transact a little amount of money and yet the transaction fee is way more bigger than the amount that you will transact. Just imagine that scenario, also the high fees are brought by the sudden increasing of bitcoin and other cryptocurrency so that the fees are way more higher than before.

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[bassbity]

You say "wt *", it's because you don't own bitcoins, and feel like you don't have moments that you don't find there. I think what's to blame when bitcoin fees are high? isn't this worth the privilege. Imagine 10 years and you just woke up. If you were acquainted with bitcoin 10 years ago, then you would not say it was expensive, because the price was not what it is today. So where do you find the error?

[Vaskiy]

Just as the rise in the price of bitcoin, there is rise in the transaction fee. If we compare the present transaction fee in terms of bitcoin with the past years, then it looks almost similar in value. Only the value calculation in terms of USD have increased. Rise in the transaction fee restrict bitcoin to be used on mainstream services.

[k@suy]

Bitcoin fee is really high we barely feel it because the value is dropping before so we feel that our fees in bitcoin now is high , in this time the people who benefits the most in the bitcoin fess that are very high are the miners , in every block created they will have a benefits so it will good for them , we should endure and be familiar with this thing because this is normal and we cannot stop it.

[buwaytress]

Lightning is not the solution. It was a delaying tactic from the part of the miners to show that they are doing something to address the scalability issue.

Not a Lightning fanboy here, but have been quite open to it more and more (recognising of course the issues raised simply be taking things off chain) and seeing it actually being used well enough in practice just makes me more warm towards the idea but...

what makes you think this was a tactic from the miners? What could they possibly gain from encouraging an off-chain solution that ghosts their on-chain fees away?

[masterrex]

After over 10 years of BTC, developers did not manage to make BTC scale.
Wtf is up with current high fees?
This sucks. Good bye.

Mate Just like you I'm also disappointed with these expensive fees, In both Bitcoin and Ethereum but we can't do anything about it. I think most of us the small-scale users and traders are the most affected by these expensive fees and Instead of leaving why just look for something that fits your needs temporarily, just return to Bitcoin and Ethereum if the transaction fees were normalized. I think it is a better solution than to leave because thats what I'm doing now in the meantime.

[just_Alice]

After over 10 years of BTC, developers did not manage to make BTC scale.
Wtf is up with current high fees?
This sucks. Good bye.

BTC transaction fees are mostly tolerable, it's only when the bull run happens, naturally, the txn fees grow. Also, you can still pay low transaction fees if you want to, you know that, right?
I usually look at transactions mempool on this website to decide the perfect time/money ratio, when I don't want to overpay, but, at the same time, I don't want my transaction to take ages to be confirmed. Don't give up so easily

[Fatunad]

You do realize that Bitcoin didn't have high fees since the beginning, right? It mostly only started since the 2017 bull run. Also, transaction fees are through sats, not in USD, so a higher bitcoin price would mean 'higher' transaction fees. Bitcoin simply grew too much in a short timespan than the developers lacked time, and that layer-2 solutions such as Lightning aren't THAT ready yet.

And people are way too impatient? Among all of the positive side aspects of BTC but still they are trying to elaborate its Con's on that severe manner without even thinking
that fees could really subside if the network congestion had gone away.Its not actually a problem though as to speak but people are way too meticulous on things
that should really be perfect.It might have its con's or flaws but doesnt mean that it wont be capable or do able to meet up your expections.

Sooner or later that Lightning network would be finalized and would be adopted.

[passwordnow]

After over 10 years of BTC, developers did not manage to make BTC scale.
Wtf is up with current high fees?
This sucks. Good bye.

Bye, probably you have sold at the bottom of this correction or haven't packed up before the bull run. Well, it's not really high if you're calculating it in sats but let's be real that once we calculate it in USD, it's somehow high and unacceptable. But every transaction happens and being paid in sats and not in USD. To solve it, don't transact if you're just sending pennies to someone or to exchanges. Much better to accumulate your transaction and save it first to make the fees worth it as you send.

[goldade]

Although I agree the transaction fees for bitcoin transactions is rather high, I believe it is absolutely normal that the transaction fee of bitcoin is high. However, as high as it is, you'd realize that it is even low than Ethereum transaction fee
You can actually pay low transaction fee for bitcoin transactions by choosing the regular fee rather than the priority fees. You'd just have to wait for a very long time for your transactions to be confirmed

[jerry0]

At the moment, how much does it cost to send btc in a transaction now on average?  What is the lowest fee could you use now if you adjusted it on nano ledger s or electrum now?

[Sithara007]

Although I agree the transaction fees for bitcoin transactions is rather high, I believe it is absolutely normal that the transaction fee of bitcoin is high. However, as high as it is, you'd realize that it is even low than Ethereum transaction fee
You can actually pay low transaction fee for bitcoin transactions by choosing the regular fee rather than the priority fees. You'd just have to wait for a very long time for your transactions to be confirmed

It all depends on the timing. Yesterday one of my transactions got confirmed in just around 1 hour, although I paid a very low fee (13.1 Sat/Byte or BTC0.000028). You need to be alert if you don't want to splurge too much on the fee. Mempool sometimes get crowded and at some other times it may be mostly empty. I used the website https://mempool.space/ to calculate my fee, as it is relatively easy. At this point, a fee of 11 Sat/Byte can get you an almost instant confirmation. I don't have any issues in waiting for 2-3 days, so that the fee gets lower. But if you can't wait until the Mempool gets empty, then there is no choice other than to pay a very high fee.

[CryptopreneurBrainboss]

Bitcoin simply grew too much in a short timespan than the developers lacked time, and that layer-2 solutions such as Lightning aren't THAT ready yet.

OP the quoted statement above is the summary of everything you need to know why we're currently in this mess right now. Now we just have to give the developers time to come out with some simple solution that can be widely accepted by the general public.

Be rest assured this won't stay this way forever because if it doesn't then people would start losing interest in the technology and the developers are aware of this which is why new solution are been throw into the community often for feedback.

We have tried SegWit addresses and lighting network, soon a more adoptable solution would be launched. For the moment you can make use of of already existing not so perfect solution and enjoy lower fees than using legacy addresses for transactions.