How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?

[OddJobsForBitcoin]

Can somebody explain why mining fees are rocketing?  Everyone is blaming Ordinals and BTC block size. Why can't the developers do something about it? Must Bitcoin core remain close to what Satoshi envisaged? I've asked a number of questions already so let's get some answers.

1. Why is BTC fee high?

2. How do I circumvent high fees?

3. Why aren't developers tweaking the Bitcoin blockchain code to accommodate millions of transaction like Solana and BNB? This would ven make people feel comfortable using BTC as a payment instrument instead of mainly speculative, keeping big players like Blockrock less interested and giving  small players like us time to buy.

4. How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?

[1714251435]

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[LoyceV]

1. Why is BTC fee high?

It's a free market, and the highest bidder wins.

2. How do I circumvent high fees?

Don't collect small Bitcoin inputs, use Segwit, and if possible use LN.

3. Why aren't developers tweaking the Bitcoin blockchain code to accommodate millions of transaction like Solana and BNB?

I don't know Solana but BNB is a centralized shitcoin made up by a rich guy. A centralized database can't be compared to a decentralized blockchain.

4. How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?

You can't.

[SquirrelJulietGarden]

BNB is a centralized shitcoin made up by a rich guy. A centralized database can't be compared to a decentralized blockchain.

Binance Smart Chain is a centralized blockchain and their team can halt it anytime.

Binance Smart Chain Halted Over 'Potential Exploit,' $100 Million Taken Off Chain. This is one of their BSC halts, not the only halt so far.

1. Why is BTC fee high?

Network, mempool capacity to handle pending transactions are limited and demand recently surges a lot, with biggest spam contributions from Ordinals.

Ordinal analysis
Ordinals

[promise444c5]

2. How do I circumvent high fees?

Don't collect small Bitcoin inputs, use Segwit, and if possible use LN.

I guess the  LN is Lightning Node, which of the lightning nodes wallet is easier to grasp as a beginner either custodia or noncustodial??

[Plaguedeath]

I guess the  LN is Lightning Node, which of the lightning nodes wallet is easier to grasp as a beginner either custodia or noncustodial??

Custodial is always the easy way to use since you only need to creating an account and it's ready to use.

While non custodial needs you to open a new channel, fund it etc that looks more technical.

But it we talk about security, non custodial is always secure than the custodial one. In custodial, you're relying on someone else channel, if the owner want to close the channel, you will lose your coins.

[ABCbits]

2. How do I circumvent high fees?

Don't collect small Bitcoin inputs, use Segwit, and if possible use LN.

Using Bitcoin sidechain (such as Liquid or Rootstock) also works, but it's hard to find other people who use Bitcoin on any of those sidechain.

3. Why aren't developers tweaking the Bitcoin blockchain code to accommodate millions of transaction like Solana and BNB?

I don't know Solana but BNB is a centralized shitcoin made up by a rich guy. A centralized database can't be compared to a decentralized blockchain.

Solana also centralized and some people know Solana as coin that frequently going down.

[masyari]

3. Why aren't developers tweaking the Bitcoin blockchain code to accommodate millions of transaction like Solana and BNB?

I don't know Solana but BNB is a centralized shitcoin made up by a rich guy. A centralized database can't be compared to a decentralized blockchain.

There are decentralized chains that have higher TPS than btc. They can make blocks bigger and/or more frequent (and reduce reward per block) to increase tps but looks like no one care that it's really hard to use L1 BTC as payment. 

[LoyceV]

There are decentralized chains that have higher TPS than btc.

True, but how successful and decentralized are they? And how many transactions do they actually process? Bitcoin's blockchain is currently 569 GB. Chainstate is already 9.4 GB. If blocks would have been 10 times larger, spammers could still easily fill them with transactions. If the current blockchain and chainstate would have been 10 times larger, you'd need 8 TB SSD and 128 GB RAM to run a node. That's still possible, but most consumers wouldn't do it anymore.
I really hate high fees, and I really want to see a solution for the low transaction throughput, but on-chain scaling can't be enough to reach mass-adoption. Google tells me Visa processes 242 billion transactions per year. That's not a problem for a huge centralized database with many backups, but it's impossible to decentralize to tens of thousands of nodes.

[EarnOnVictor]

1. Why is BTC fee high?

I think you already know this, it is as a result of the congestion caused by Ordinals and BRC-20. Sadly, I don't think this will end soon.

2. How do I circumvent high fees?

I use Altcoins where I can and if I must use BTC, I pay the amount for 18 Sat/VB and use ViaBTC to accelerate the transaction for free.

3. Why aren't developers tweaking the Bitcoin blockchain code to accommodate millions of transaction like Solana and BNB? This would ven make people feel comfortable using BTC as a payment instrument instead of mainly speculative, keeping big players like Blockrock less interested and giving  small players like us time to buy.

I think big players will find a way to work around this though it is discouraging and annoying. However, Bitcoin can't be scaled the way you thought like that of Solana and BNB because it has to preserve its true decentralization. The more the scalability, the more it gets exposed and reduces the decentralization tendency.

4. How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?

Refer to the answer provided in number 2.

[Rampagoe004]

Custodial is always the easy way to use since you only need to creating an account and it's ready to use.

While non custodial needs you to open a new channel, fund it etc that looks more technical.

But it we talk about security, non custodial is always secure than the custodial one. In custodial, you're relying on someone else channel, if the owner want to close the channel, you will lose your coins.

I think we can use non-custodial wallets for security reasons and as you said although it looks more technical but non-custodial wallets are much safer to use.

It's just that talking about LN, I'm curious why currently there are still many people who don't try using LN? Am I wrong in retrieving the data? Or is there something that keeps people from popularizing the use of LN? Because honestly I just found out about LN some time ago and what I know is that the network is much cheaper than the main BTC network.

[blapaz]

It's just that talking about LN, I'm curious why currently there are still many people who don't try using LN? Am I wrong in retrieving the data? Or is there something that keeps people from popularizing the use of LN? Because honestly I just found out about LN some time ago and what I know is that the network is much cheaper than the main BTC network.

speaking for myself.
i don't know how to use securely.
does bitcoin core supports it?
what opening a channel means?
do i need to have another wallet?
what means paying an invoice? (seen it from kraken, which allows withdrawal via LN).

i m not risking using it.

[Gladitorcomeback]

Can somebody explain why mining fees are rocketing?  Everyone is blaming Ordinals and BTC block size. Why can't the developers do something about it?

The number of spam transaction is increased and people are paying high fee to the miner for quick according to meme pool the current unconfirmed transactions are more than 460,000. Big wallets are paying more than normal and people like you and me will just wait for some miracle. Some devolpers showing interest to do something with ordinal and Inscription but generally it is not looking very easy as BTC is decentralized and everyone have free hand to use it in own way but if continues small investors will be affected.

2. How do I circumvent high fees?

Presently you have only one way, constantly check out the fee in the https://mempool.space/ and when you see that you could bear average fee then make transaction.

Note: Free accelarators not working, I have already checked and just wated my time.

[EL MOHA]

2. How do I circumvent high fees?

I use Altcoins where I can and if I must use BTC, I pay the amount for 18 Sat/VB and use ViaBTC to accelerate the transaction for free.

I wanted to suggest set the fee low but to meet the requirements of the viabtc service for free transfer but right now that’s not possible because the hourly slot for free service is said to have been hijacked by bots and it will be hard to get a transaction accelerated using Viabtc free service.

speaking for myself.
i don't know how to use securely.
does bitcoin core supports it?
what opening a channel means?
do i need to have another wallet?
what means paying an invoice? (seen it from kraken, which allows withdrawal via LN).

This is simply saying you don’t have knowledge about LN. here is a comprehensive list of threads for LN network by Pmalek

Also this is how to set up a LN using electrum wallet https://bitcointalk.org/index.php?topic=5259973.0

[pakhitheboss]

According to those replies that I have just now read on your thread. It is impossible for you to avoid Bitcoin high transaction fee, which is correct. If you don't want to hold Bitcon or trade with it then explore other options.

There might be multiple reasons for you to create this topic. After seeing your activity on multiple board and in specific  your topic which, for me looks like you are desperate I'll Do Odd Jobs for You, it somehow relates that you  might have found jobs that pays in Bitcoin and you want an option to cash out without getting into the transaction fees issue.

Either you keep holding to what are getting paid or swap them to alts that are known to be cheap transaction. I meant altcoins like TRX as this is the most traded cryptocurrency on every exchange with the lowest transaction fee.

I would still recommend not to sell everything that you have been earning with Bitcoin. Whatever you are earning take out 30 percent of it for your monthly need as I wrote above and let the rest be in your wallet.

[blapaz]

This is simply saying you don’t have knowledge about LN. here is a comprehensive list of threads for LN network by Pmalek

Definetely.

Also this is how to set up a LN using electrum wallet https://bitcointalk.org/index.php?topic=5259973.0

_Got on that link, images are missing._

Why would someone have to learn about channels, trampoline routing, etc.
Point is, if we want people to use LN, it should be dumb-easy and more 'transparent'.

Other networks' L2 are just much more user friendly - maybe it's the tooling, I don't know.

That's my point of view though. I don't feel safe using it - due to ignorance, I agree, but it needs to be much more easier for me to use it.

My 2c

[pooya87]

There are decentralized chains that have higher TPS than btc.

Theoretically and on paper anything is possible, you can even have unlimited number of transactions per second. For example Ethereum was supposed to be "a decentralized computer" in theory.

But what about reality?

When we check out each of the alternatives, we see that they either suffer the same flaws as Bitcoin (because majority of them are copies of Bitcoin!) or they suffer a wide range of other issues as what they've changed is opening up new attack surface.
For example Ethereum (which is not far from being a copy of Bitcoin) suffers from the same problems and on top of that it is not what it was advertised as (the theoretical case I said above). Instead it is a centralized shitcoin with a flawed protocol, a massive premine and a mutable blockchain.

[bettercrypto]

BNB is a centralized shitcoin made up by a rich guy. A centralized database can't be compared to a decentralized blockchain.

Binance Smart Chain is a centralized blockchain and their team can halt it anytime.

Binance Smart Chain Halted Over 'Potential Exploit,' $100 Million Taken Off Chain. This is one of their BSC halts, not the only halt so far.

1. Why is BTC fee high?

Network, mempool capacity to handle pending transactions are limited and demand recently surges a lot, with biggest spam contributions from Ordinals.

Ordinal analysis
Ordinals

It just means that the ordinals are causing great harm in this matter by increasing the fee on the bitcoin network. The effect it causes is very bad for all Bitcoin holders in times like this.

In the mempool space, when I monitor it, I don't see it drop by 60 sats. Rather, it happens so rarely that it even happens, but it's only a matter of time or a coincidence if its fee suddenly drops in the undermempool. In such a matter, it should be done in a way so that the holders do not have headaches in reality.

And I don't think there's a way for us to avoid it to lower the feebut we can adjust it however you will not be priroritize for sure.

[EarnOnVictor]

2. How do I circumvent high fees?

I use Altcoins where I can and if I must use BTC, I pay the amount for 18 Sat/VB and use ViaBTC to accelerate the transaction for free.

I wanted to suggest set the fee low but to meet the requirements of the viabtc service for free transfer but right now that’s not possible because the hourly slot for free service is said to have been hijacked by bots and it will be hard to get a transaction accelerated using Viabtc free service.

I quickly rushed to the ViaBTC acceleration page to check what you claimed that bots had hijacked it and I was surprised that at 7 minutes past 4 PM, the available slot was 0. This has never happened before ever since I used the service.

Well, I can't ascertain the bot hijacking allegation as ViaBTC will not allow their website to be compromised with bots. It is either they are the ones doing it or the traffic is so high for obvious reasons. Bitcoin's fee issue is pushing people to use any available services that can lower the fee, so you shouldn't be surprised if there are thousands of people using that service on an hourly basis now.

This will appear like a bot if people continue to queue to secure a space at the very first second of a new hour.

[Pmalek]

It's just that talking about LN, I'm curious why currently there are still many people who don't try using LN? Am I wrong in retrieving the data? Or is there something that keeps people from popularizing the use of LN? Because honestly I just found out about LN some time ago and what I know is that the network is much cheaper than the main BTC network.

There is nothing wrong with using the Lightning Network, but for a one-time transaction, it doesn't make much sense. If you and me, for example, transact on a regular basis, then LN is useful. If one of us is only supposed to send BTC once, we aren't saving anything in case we have to open and fund a channel and then close it afterwards.

[BitcoinPanther]

4. How Can I Pay Lower Bitcoin Transaction Fee and Not Get Stuck?

If you have the fund create your own mining farm and include your transaction with low transaction fee on the block your mining farm succesfully mined.  If you don't have the fund to make this mining farm then there is no way that you can pay lower Bitcoin transaction fee and not get stuck.  

If you are thinking the use of accelerator, the free service is almost impossible to access due to bot script that is programed to use the free slots.  If you end up planning to use the paid service, I can say forget about it, it cost way higher the transaction fee.