LOONG TIME, NO SEE!

[andthereyou]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Yes, I think it's greed. What else can we called that? Also when sending tokens through ethereum the minimum transaction fee for fast transaction was 10usd (before it's a penny).

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[oktana]

Lol... Nothing like greed. It could get back to the gas fee price you know if only Bitcoin were to dump to a way lower price.
So, the more we go higher, the more the fees increases. Have you seen ETH fee?
I wish I was charged $27 to make an ETH transaction!

[Hamphser]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Normal scenario that you can really see when the network is clogged up or simply it had been flooded out by lots of transactions which does usually happen when bitcoins price

do tend to rise up or to dump down where people do make out corresponding actions basing off on the situation that they are facing. Somehow these high prices

wont stay up that long and once the market transactions had stabilized then everything would goes back to normal.

[LogitechMouse]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

I just visited mempool.space just now and the lowest transaction fee that I saw was near $10.
Am I surprised with this? Not really although there are times in the past few weeks that I made a transaction and the fees at that time was below a dollar. Good timing for me I guess.

We've seen this kind of transactions already for a long time. I think you need to time your transaction pretty well. In my place, I usually make a transaction at afternoon because at that time the fees are lower at least for me. Maybe that isn't the case now since the transaction fees are surging. Just wait for the fees to go down I guess and greed isn't a factor here. Its just that there was a time where fees are surging that high .

[dihari]

This is what we have to deal with, both btc and eth are  very expensive to transact with, eth is even the worst, it is hard to chew but you have to accept it, btc is high in price sane with eth, and high transaction fee is the price for it.

That's why I am no longer agree with the statement of bitcoin and ethereum is the digital currency. I am no longer treat both crypto as an alternative payment. I don't even call them money anymore.
Sending money on the internet supposed to be free and fast. While bitcoin and ethereum can't do that, I prefer to treat them as a digital asset. The platform to grow wealth. So whatever the fees, I can deal with it.

[Darker45]

This is what we have to deal with, both btc and eth are  very expensive to transact with, eth is even the worst, it is hard to chew but you have to accept it, btc is high in price sane with eth, and high transaction fee is the price for it.

That's why I am no longer agree with the statement of bitcoin and ethereum is the digital currency. I am no longer treat both crypto as an alternative payment. I don't even call them money anymore.
Sending money on the internet supposed to be free and fast. While bitcoin and ethereum can't do that, I prefer to treat them as a digital asset. The platform to grow wealth. So whatever the fees, I can deal with it.

What would be the basis of something to be considered a currency? Is it the fee, so that whenever the fee rises, the currency ceases to be one? That would be ridiculous. Anyway, I've just bought prepaid load. The app accepts Bitcoin and I paid in Bitcoin. Whether it will convert it to fiat right away doesn't matter. I spent Bitcoin. That means it is still a medium of exchange, therefore, money.

On what basis do you suppose sending money on the internet should be free and fast?

[pooya87]

ethereum is the digital currency.

Ethereum has never been a "currency" to begin with. By design ETH is a token or to be more precise it is fuel for smart contracts and nothing more.

While bitcoin and ethereum can't do that, I prefer to treat them as a digital asset. The platform to grow wealth.

Here is the flaw with this, why would something useless (according to you) have any value and grow?
Essentially that's what bitcoin is if you remove the currency aspect of it, it is some virtual numbers on the internet that we are wasting energy to find.

Although cheap transactions are desired but they are not the defining factor. Bitcoin is a currency and a very useful one at that because you can make a payment from anywhere in the world to anywhere in the world in matter of seconds without needing any third party's involvement or permission thanks to its decentralized nature.
This is exactly why bitcoin value keeps growing while altcoins' keep declining.

[TangentC]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Artificial size limit on blocksize imposed by BTC devs to coerce users to use LN and Liquid offchain systems.

So yeah, Greed is the correct answer.

* BTC average transaction fee will only get higher with time, as their are no plans to increase BTC blocksize,
so 3 years from now expect $250 average transaction fee.*

Although cheap transactions are desired but they are not the defining factor. Bitcoin is a currency and a very useful one at that because you can make a payment from anywhere in the world to anywhere in the world in matter of seconds without needing any third party's involvement or permission thanks to its decentralized nature.
This is exactly why bitcoin value keeps growing while altcoins' keep declining.

One exception , Doge average transaction fee is only $1 and their price has also only been going up.
In fact, owning doge coin since 2017 would have earned you more than bitcoin from the same 2017 starting point.
Both grew substantially verses fiat, but Doge Profit Numbers were higher.
Also Doge has ~10X the onchain transaction capacity of BTC.
Doge transactions occur in 1 minute blocks while BTC has 10minute blocks.

[yazher]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

If that is the cost of transaction fees then you should be holding a large amount of BTC because that kind of fee is big enough to buy 1 book. The problem is if you only have a little amount of BTC in your wallet and you need to get it right away but still, you need to pay that big amount which you don't have any choice at all. I think the best suggestion I could give you guys if you are only holding a small amount of BTC it's best to put it on the exchanges so that when you want to withdraw it, you don't need to send it and to pay some transaction fees.

[davis196]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Were you sleeping under a rock during the last few years?
The Bitcoin transaction fees will go up for sure.With the increasing BTC adoption,Bitcoin Core blockchain will get stuck with more transactions,which means higher tx fees and longer confirmation time.
There are two options to avoid this:
1.Just HODL and don't move your Bitcoins out of your wallet.
2.Use off-chain solutions like Lightning Network.I hope that LN will become enough user-friendly and it will get adopted many millions of BTC users.I also know that many people won't trust off-chain solutions like LN.

[Assface16678]

While you were away the price of bitcoin increased which spurt the increase of the transaction fees because there are more people that are in the network and the network can only handle so much but other than that you didn't miss that much, companies buying bitcoin, former opposition of bitcoin is starting to warm up towards bitcoin.

[Dilerium90]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

I fully understand your pain. High fees are not only plaguing bitcoin, but Etherium as well. I think that these cryptocurrencies are no longer a means of transfer. For the transfer you can use hundreds of other tokens, for which the commission is 1-2 cents.

[isaac_clarke22]

Expect it like we're getting a lot of price surge lately as well as correction concurrently. I can even recall back in 2017 when the ATH was 20k and my sent BTC was just like $10 and the tx fee I paid was double the amount of what I sent which was really insane.
Newbie mistake, I still did it instead of waiting. Not gonna be surprised as that was an online wallet I used.

[bosede1]

My view on this issue will be that the last time you talked about how much was Bitcoin then, compare it to the recent value and redecide or check if the price that the increase is not worth it.

[Sanugarid]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

As the value of BTC increases, the value of the transaction fee in BTC will not change but its equivalent value in fiat currency such as USD will increase the same as BTC. It is the same scenario in ETH, the gas fee is so high which made me limit my transactions on the ETH network. So avoid making transactions when the fee is so high just wait and it will not stay high for too long

[pinggoki]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Obviously you already know why this is happening, why gas fres or tax fees are increasing and this because of the reason that the bitcoin and other cryptocurrency are very high today. This is not about greed but this is also the effect or cons of sudden pump up of the bitcoin as well as the other cryptocurrency. Maybe there's also a lot of reasons why the gas fees are kind of high today but this is the main reason why it is getting higher and higher. The more that the market is green or pumping, the more the fees are also increasing.

[EiKaGlaShPriSAThWEl]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

I was also surprised. I've been in active for a long time and lot of things changed in cryptocurrency. It feels I have a so many things to learn again. It also feels like a newbie again but on the other side I'm hoping that I just need to refresh a little to be able to fit in crypto again. I also have coins that can't be withdrawn from the exchanger because the fee is higher than the amount of the coin. Some kinda heartache. I guess I can't used that anymore or I have to convert that into another coin and wait for its price to rise so it will be higher than the fee. I that works.

[sarmrakib]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

Its really painful to see the high fees but we have to keep it in mind that the price also has gone to the high of the level .However its usual thing that the much the price of btc flow to the up the fee also will will follow .I think you have made your transaction when the price was in downtrend and low the market has changed a lot and the fee became high .So we need to adjust with it as well .

[UserU]

And we see those people envisioning Bitcoin to surpass 6-figures in value while Lightning Network still struggle to gain a foothold.

Funnily I can imagine how tremendous those fees would be.

[dificanovi]

I was ordering BTC and I was astonished to see how fucking high tx fee is: $27.00!!!!!! I was like, did something happened? I remember it used to be like a penny. I see the minimum fee is like $7.00 knowing fully well that it will take forever to get it confirmed. So.. I shit $18 in tx fee and it took like fucking 6 hours.

WTH is going on? Greed?

indeed this is what will happen if the price of bitcoin gets more expensive, we will pay a very expensive transaction fee. at this point if someone is going to buy bitcoin they have to buy it in very large quantities so they don't feel disadvantaged by expensive transaction fees.