High transaction fees affects those who DCA

[Wiwo]

We're still facing the high transaction fees again, and it seems like it's something that we have to get used to that it must happen periodically when the mempool is congested, so every Bitcoin holder should have a plan b when it occurs. In your own case as you're doing DCA method, I think that it's best if you can be disciplined and hold your weekly earnings for a period of one month before sending it, to minimize the amount of the fees, since you'll pay about the same fees if you're sending it weekly. It's not advisable to leave your coins in the exchange and relax.

As long as bitcoin exists,  there will always be a situation like this and also note that this is not going to stop anytime soon, and bitcoin have to be aimed at a long term views this way you can easily avoid draining your entire money on fees.

But then we have to wait to see things settled along the way, and also be prepared to any future challenges that may come up I the future.

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[Uhwuchukwu53]

As long as you trust your exchange I don’t see any immediate need to withdraw. Certainly if transaction fees are a concern then withdrawing once every could weeks or even monthly is probably not a big deal. In times like now where there is uncertainty I wouldn’t want to be storing funds on Binance, but in normal times there’s not a huge risk in leaving a couple weeks of DCA on an exchange.

This may stand better chance of limiting the exchange fee  if you have good knowledge with the exchange and have trust you can allow it to accumulate for month to avoid the regular withdrawal which might implied different charges at each oint as this will only be once .

[Franctoshi]

We're still facing the high transaction fees again, and it seems like it's something that we have to get used to that it must happen periodically when the mempool is congested, so every Bitcoin holder should have a plan b when it occurs. In your own case as you're doing DCA method, I think that it's best if you can be disciplined and hold your weekly earnings for a period of one month before sending it, to minimize the amount of the fees, since you'll pay about the same fees if you're sending it weekly. It's not advisable to leave your coins in the exchange and relax.

As long as bitcoin exists,  there will always be a situation like this and also note that this is not going to stop anytime soon, and bitcoin have to be aimed at a long term views this way you can easily avoid draining your entire money on fees.

But then we have to wait to see things settled along the way, and also be prepared to any future challenges that may come up I the future.

As Bitcoin rewards for miners keep decreasing over time with the halving after every 4 years, I believe what will keep miners active still doing their job on the Bitcoin network is if they're benefiting from the transaction fees, and which is what we are currently experiencing lately, This to me looked like Bitcoin was designed this way on the long run to keep miners active in the system, Who knows we might even see more higher fees in the future when the rewards miners get from mining Bitcoin get lesser and this is for them to cover the money they spend in electricity bills

[Gaza13]

We're still facing the high transaction fees again, and it seems like it's something that we have to get used to that it must happen periodically when the mempool is congested, so every Bitcoin holder should have a plan b when it occurs. In your own case as you're doing DCA method, I think that it's best if you can be disciplined and hold your weekly earnings for a period of one month before sending it, to minimize the amount of the fees, since you'll pay about the same fees if you're sending it weekly. It's not advisable to leave your coins in the exchange and relax.

This is very normal if there is a traffic jam, if we get weekly income from the campaign, if we don't have an urgent need, I don't think there's any point in selling it, if we have income in the real world. If urgent needs cannot be avoided, you can seek a temporary solution from your friends or relatives by borrowing money. When conditions return to normal, you can sell it. If we accumulate it every month, in my opinion, with fairly high transaction conditions, there's no harm in temporarily storing it on the stock exchange, when conditions are stable you can withdraw it back to your wallet.

[Falconer]

-snip-

This is very normal if there is a traffic jam, if we get weekly income from the campaign, if we don't have an urgent need, I don't think there's any point in selling it, if we have income in the real world. If urgent needs cannot be avoided, you can seek a temporary solution from your friends or relatives by borrowing money. When conditions return to normal, you can sell it. If we accumulate it every month, in my opinion, with fairly high transaction conditions, there's no harm in temporarily storing it on the stock exchange, when conditions are stable you can withdraw it back to your wallet.

There are many options that have been mentioned and I basically agree that they can help. Expensive transaction fees are a problem in the bitcoin network currently, but over time transaction fees will decrease even though it is difficult to expect 1 sat/vB like before.

I agree that, if you have a steady income at a real job and the amount can cover your daily to monthly needs, then there is no reason to sell bitcoin now. You can accumulate your typical campaign earnings each week as a long-term investment, while still being able to sell a percentage of it when you need more budget in the lean months.

[cryptomaniac_xxx]

We're still facing the high transaction fees again, and it seems like it's something that we have to get used to that it must happen periodically when the mempool is congested, so every Bitcoin holder should have a plan b when it occurs. In your own case as you're doing DCA method, I think that it's best if you can be disciplined and hold your weekly earnings for a period of one month before sending it, to minimize the amount of the fees, since you'll pay about the same fees if you're sending it weekly. It's not advisable to leave your coins in the exchange and relax.

This is very normal if there is a traffic jam, if we get weekly income from the campaign, if we don't have an urgent need, I don't think there's any point in selling it, if we have income in the real world. If urgent needs cannot be avoided, you can seek a temporary solution from your friends or relatives by borrowing money. When conditions return to normal, you can sell it. If we accumulate it every month, in my opinion, with fairly high transaction conditions, there's no harm in temporarily storing it on the stock exchange, when conditions are stable you can withdraw it back to your wallet.

And fees are somewhat back in "normal", when I say normal, it's not 100 sat/vB++. So I do agree, I see some members, who requested their managers to hold off the payment because of the high transaction fees.

As for DCA, if you are here for the long run, then I'm not sure how it will affect the high fees. Maybe you can stop DCAing or buying when the fees are high and just save your fiat money. But if everything goes back and settled in, they resume your accumulation. Just treat it as something that we should do, just taking a break because of the high fees.

[Abiky]

Storing bitcoins on exchanges has never been advisable, but I also think it is a temporary solution for the time being with high fees. Distributing bitcoin across multiple exchanges is also not a bad idea, this will also have risks but the risks will be dispersed if the exchange collapses or is hacked. I will consider this idea if transaction fees do not decrease.

It's all "part of the plan". With high network fees, people will be forced to leave their coins on exchanges or centralized services. If this keeps up, only the wealthy (whales, institutional investment companies, governments, etc) will be able to practice self-custody of BTC. Fees may've declined now, but it won't last forever. Especially if the Ordinals craze continues. Core devs are reluctant to introduce network changes that would help mitigate the issue. They want us to switch to the centralized Lightning Network that's flawed by design.

I wonder how high network fees will be by the next block reward halving? Probably within the "four figures"? At least, we have plenty of other decentralized alternatives to choose from. Litecoin is one of them. At this point, we could say Bitcoin failed as a digital currency. It's only good as a store of value. You can rely on BTC as a Gold alternative, while using LTC for day-to-day payments (like Fiat). The future can't be predicted, so lets hope for the best.

[Hamphser]

We're still facing the high transaction fees again, and it seems like it's something that we have to get used to that it must happen periodically when the mempool is congested, so every Bitcoin holder should have a plan b when it occurs. In your own case as you're doing DCA method, I think that it's best if you can be disciplined and hold your weekly earnings for a period of one month before sending it, to minimize the amount of the fees, since you'll pay about the same fees if you're sending it weekly. It's not advisable to leave your coins in the exchange and relax.

This is very normal if there is a traffic jam, if we get weekly income from the campaign, if we don't have an urgent need, I don't think there's any point in selling it, if we have income in the real world. If urgent needs cannot be avoided, you can seek a temporary solution from your friends or relatives by borrowing money. When conditions return to normal, you can sell it. If we accumulate it every month, in my opinion, with fairly high transaction conditions, there's no harm in temporarily storing it on the stock exchange, when conditions are stable you can withdraw it back to your wallet.

And fees are somewhat back in "normal", when I say normal, it's not 100 sat/vB++. So I do agree, I see some members, who requested their managers to hold off the payment because of the high transaction fees.

As for DCA, if you are here for the long run, then I'm not sure how it will affect the high fees. Maybe you can stop DCAing or buying when the fees are high and just save your fiat money. But if everything goes back and settled in, they resume your accumulation. Just treat it as something that we should do, just taking a break because of the high fees.

I do consider normal when its sitting around 1-10 sats/byte on which this is something where it is really that best or sweetest spot if we do speak about network fees on which this do means that everything goes back to normal where people could make out transactions without having that kind of hesitation due on being too high. For those people who do tend to DCA specially on bitcoin then this would really be the best time or timing. Dumping market + cheap network fees then i dont see any reasons that you would really be missing out such opportunity. There would be no reason that you wont be able to DCA
this time specially its the right opportunity on doing so. 

[poodle63]

As long as bitcoin exists,  there will always be a situation like this and also note that this is not going to stop anytime soon, and bitcoin have to be aimed at a long term views this way you can easily avoid draining your entire money on fees.

But then we have to wait to see things settled along the way, and also be prepared to any future challenges that may come up I the future.

usually it costs relatively cheap to DCA, bitcoin fee isn't as high as ethereum in the past, but due to the presence of BRC20 and runes, it does increase.
my only solution is only to take advantage of DCA through exchange, even though many people consider exchange to be rather risky when saving money since we got that flashback of FTX making people unable to withdraw but DCA ing could only be done effectively through that since the high transaction fee aren't going anywhere.
but honestly we can wait it out until the hypes about runes subsides first, so many runes minting these days, it does increase fee as high as $100 which honestly is ridiculous.

[Popkon6]

The current Bitcoin fees wouldn't have mattered to me because I am not selling, but the fees do matter because I DCA, and I don't want to leave my coins in the centralized exchange. This month, I have spent roughly $5 to $10 in transaction fees when I DCA every week. It may seem small, but in my country, it's enough to cover my feeding expenses for a month cumulatively.

I discussed this issue with my friend, and he suggested I use an exchange that utilizes the Lightning Network. According to him, this would help me get off with no fees any day. While I'm considering this alternative, another option is to wait for a month or two, then use the amount we kept for weekly DCA, hold it for a month or two, and lump sum. This way, i would incur just a one time fee. What are your thoughts on this? I feel like I may use the money kept for DCA for other expenses.

Bitcoin transactions typically spike around the halving, and Bitcoin fees continue to be the biggest barrier to transactions. Basically I think it's best to look at Mempool when trading. Because from this you can guess about the gas fee in case of coin transaction, and according to Mempool you will definitely get some saving if you do Bitcoin transaction. Weekly if you are holding in DCA method here you can complete this transaction monthly or every 15 days. But it is also in good practice to complete it by keeping you money.

[Abiky]

Bitcoin transactions typically spike around the halving, and Bitcoin fees continue to be the biggest barrier to transactions. Basically I think it's best to look at Mempool when trading. Because from this you can guess about the gas fee in case of coin transaction, and according to Mempool you will definitely get some saving if you do Bitcoin transaction. Weekly if you are holding in DCA method here you can complete this transaction monthly or every 15 days. But it is also in good practice to complete it by keeping you money.

Exactly. It's best to make transactions at different time periods to save money. Keeping a few BTC on exchanges seems to be the only option right now. You can do DCA on a centralized exchange without the need to pay high network fees (except when you make a withdrawal). I've read that some exchanges are integrating LN support (Bitstamp, Coinbase), so high fees would only be a thing of the past.

Remember, patience is a virtue. Those who manage to wait, will eventually be rewarded in the long run. Bitcoin network fees won't stay high forever, anyways. I'm hoping the Ordinals hype comes to an end, so Bitcoin can be used more throughly as a currency than a store of value. At least, that's the dream.

[leonair]

I would like to say that stop making or adopting DCA method while by Bitcoin wallet transfer. It is true that centralised exchanger was not an ideal way to adopting Bitcoin for long term investing but I think if we choose a reputable centralised exchanger and buying there Bitcoin as we want to run our dca method like we can buy bitcoin by p2p trading and holding bitcoin on centralise at changer until the Bitcoin transaction has down to cool.