Do you sometimes get irritated by excess bitcoin fees ?

[Viscore]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

There's no way I'll be fine with it to be honest. But somehow, I know the development team is already working on it, hopefully it will be given a solution in time. For now, if there's no need to sell, then stay hodling, but if it's needed to sell with no other choice, I guess just accept the fact that you are losing some of your funds. Acceptance is the key if ever.

[alastantiger]

To be honest the fees don't irritate me, because I am not sending regular transactions. Not only do I reduce the total number of transactions I send, but I try to include as much as possible in each transfer to avoid UTXOs accumulating. Long term, the more transfers you make and the more UTXOs you generate, the more you will end paying in fees. This will far surpass any amount of fees caused by network congestion. You can learn about UTXOs here:https://www.kraken.com/learn/what-is-bitcoin-unspent-transaction-output-utxo

High fees don't irritate me too because I know they're not going to be around always but only around because of some congestions. The only time we get high fees are when there are congestion on the Blockchain and I don't see that as a problem because it shows that Bitcoin Blockchain is busy and this means many people are doing transactions on the Blockchain and adopting Bitcoin gradually. Sending bigger amounts of Bitcoin out is better than sending small transactions as it makes you to have lots of UTXOs that you have to pay for later and this increases your transaction fees. Durning this time that fees are high and you're making use of a non constodial wallets that allows you to set up your fees, you can adjust your fees to what you think is appropriate and wait for the miners to confirm.

[adaseb]

These days there are hardly any conjestion on most blockchains. I think BItcoins wasnt as bad as Ethereum in the past. The issue with Bitcoin was only if you had many unspent inputs and you had to consolidate them. I had a sig campaign that paid $100, and when I had to consolidate the transactions i lost like $2-3 per transaction because there were many of them.

Worst in the past was ETH, especially when moving around stablecoins. I think in 2017 or so, I remember I had to pay $50 just to send a single USDT transfer, it was brutal. You can forget about minting NFTs, or swapping with those fees. Right now the network is dead and you can get away with 1 GWEI for many transactions, especially on weekends. But if the bull market returns for ETH, then I wont be surprised seeing 100 Gwei fees like in the past.

[EarnOnVictor]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

Owning to the choice of word, I can't get irritated by the high transaction fee of Bitcoin but it always annoys me and it denies Bitcoin a lot at that time for I look for alternatives. Even companies handling transactions do so and also advise their clients/customers to do the same. It shows that no one is happy at that time because paying less is better than paying more. This is never a win for Bitcoin and no thanks to the miners who have monopolised everything, they are the only happy class at that time.

[pakhitheboss]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

I have written in the past here on the forum on a similar topic that up to 12 sat/vB is okay for me as a transaction fee. Anything above it makes me frustrated but not irritated but a few months back when the network was congested and the fees went above 200 sat/vB at that time I was irritated and frustrated. Currently, the transaction fees are so low that it is hard for me to believe them. I do not know how long will it remain in the same way but as of now a lot of us are enjoying the low fees.

[BlackHatCoiner]

To me, it's just a natural phenomenon, and as with any other natural phenomena, I ought to accept it and move on. Bitcoin is designed to sometimes have very high fees, and as time goes by, the network must be even more congested than it is now, due to block subsidy decline.

It's the price you pay to have a hard cap at 21 million coins. In tail emission, all coin holders pay through inflation. In Bitcoin, it's those who transact. Someone always has to pay for the security. I'd rather have both options, and observe the preferences of the market.

[ethereumhunter]

Yes, that irritate me when I want to send some money but I can not do anything and just wait for some time until the fees reduce. But if after that the fee is not reduce, I can not do anything except send the money especially if I have an urgent situation. We have this experienced before so we are familiarized to see that situation and we can hold our emotion when we really need that money. We can only accept the high fee if we really want to send that Bitcoin so that will be up to us when we want to send it.

[kro55]

To be honest the fees don't irritate me, because I am not sending regular transactions. Not only do I reduce the total number of transactions I send, but I try to include as much as possible in each transfer to avoid UTXOs accumulating. Long term, the more transfers you make and the more UTXOs you generate, the more you will end paying in fees. This will far surpass any amount of fees caused by network congestion. You can learn about UTXOs here:https://www.kraken.com/learn/what-is-bitcoin-unspent-transaction-output-utxo

High fees don't irritate me too because I know they're not going to be around always but only around because of some congestions. The only time we get high fees are when there are congestion on the Blockchain and I don't see that as a problem because it shows that Bitcoin Blockchain is busy and this means many people are doing transactions on the Blockchain and adopting Bitcoin gradually. Sending bigger amounts of Bitcoin out is better than sending small transactions as it makes you to have lots of UTXOs that you have to pay for later and this increases your transaction fees. Durning this time that fees are high and you're making use of a non constodial wallets that allows you to set up your fees, you can adjust your fees to what you think is appropriate and wait for the miners to confirm.

You don't feel annoyed because you don't make transactions frequently and you can wait for the transaction fees to go down but for those who have to make transactions frequently this is really irritate and troublesome.

As you said, having more transactions shows that bitcoin adoption is increasing, but what do you think will happen if this adoption becomes global, when the whole world uses bitcoin? I believe that small investors like us will no longer have a chance to use bitcoin, not to mention high fees are not a problem.

Not to mention, this will make bitcoin unable to become a means of payment, people will hesitate to use bitcoin for payment when having to pay additional transaction fees. Don't underestimate high transaction fees, this is a hindrance for bitcoin.

[mindrust]

I do very often. It is probably the biggest reason that makes me invest in alts like doge and litecoin because they have low transaction fees. A domain costs $10 or smth, it doesn't make sense to make these small purchases with bitcoin at all. And I don't find lightning network useful either. I'd rather use a real decentralized alt like litecoin instead which gets the job done very quickly for very cheap. I treat btc more like digital gold. Hold hold hold till you have a decent amount and get retired when you do.

[Z-tight]

I believe that small investors like us will no longer have a chance to use bitcoin, not to mention high fees are not a problem.

What's stopping small investors from using BTC, a lot of us here are not whales, so we mostly fall under the umbrella of small investors, but we still use BTC, maybe not for micropayments, but for cross-border and macro payments and also as an investment and hedge against inflation.

Not to mention, this will make bitcoin unable to become a means of payment, people will hesitate to use bitcoin for payment when having to pay additional transaction fees. Don't underestimate high transaction fees, this is a hindrance for bitcoin.

Take note that tx fees are not always high, many times there is no congestion in the network and it is very cheap to make tx's in such times. Tx fee is ~ 3 sat/vB right now, so it is not expensive.

[franky1]

To me, it's just a natural phenomenon, and as with any other natural phenomena, I ought to accept it and move on. Bitcoin is designed to sometimes have very high fees, and as time goes by, the network must be even more congested than it is now, due to block subsidy decline.

It's the price you pay to have a hard cap at 21 million coins. In tail emission, all coin holders pay through inflation. In Bitcoin, it's those who transact. Someone always has to pay for the security. I'd rather have both options, and observe the preferences of the market.

^    ^
says the guy that wants higher fee's so that it irritates bitcoiners and gets them to move to his preferred network
you can always spot a person that prefers other networks. because they adore features that cause issues for bitcoiners

...
bitcoin was made to get away from the stupid tricks of fiat economics
bitcoin can operate with less fee's but the dev-politics that govern* bitcoin want excessive fee's because they own a subnetwork they can profit from if they can recruit people over to it

it makes me laugh that people dont want the actual bitcoin market to grow but instead want the "fee market" to grow..
it makes me laugh that people think a $100 hard drive is too high a price to cover 5-10 years of bitcoin blockchain but $100 per tx is fine

*(government(policy makers): core)

[Rabata]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

Everyone who transacts bitcoins wants to transfer their bitcoins cheaply. When Bitcoin transaction fees rise up, it can seem a little annoying to everyone. This becomes a big problem especially for those who do small transactions. This is a big problem for many people who collect bitcoins regularly, especially those who use the DCA strategy. Many people are reluctant to use Bitcoin when the transaction fees increase so much that they are worth more than their original money. However, for those who are large holders of Bitcoin, transaction fees are not a problem, but when transaction fees increases, the price of Bitcoin also increases. I usually hold transactions during the periods when the fee rising because I know it will go back to previous position.

[tread93]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

Oh absolutely, I’ve taken a few higher fees just to have the security of my coins and it was absolutely very frustrating that the fee was that high, I basically got a whole percent of a Bitcoin stolen from me at the time it was absurd. It was at the beginning of the ordinals fiasco when fees were at an all time high basically

[JollyGood]

Looking at your contribution in the thread you created on 26th July 2024, it seems as though you do not have much of an interest in what others are writing. The three posts you have made demonstrate it.

And what cannot be overlooked is that when you did manage to write you barely strung along enough words to remain coherent to a degree. The question that comes to mind is why would anybody other than puppeteers controlling alt-accounts and farmed accounts behave in this manner?

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

I have learned not to be over-troubled by what I don't have control over.

That is how to look at things positively. There can be other approaches to this problem as well. Like the bitcoin community raising a united voice against this and may be working collectively for some solution. The idea you gave might be good to keep mind calmed but it can also be said that this approach is to just accept a problem as it is and never look for solution.

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

No one is okay with high transaction fees, it certainly annoys everyone. So if we are seeing it happening in the market, it's best not to make transactions and just wait for the market to be back to normal, otherwise you will only be selling or buying already quite a loss.

However, it's one thing that we can't get hold onto. So just accept it and leave the market if it's currently happening.

Bitcoin high fees and network congestions have been one of the menace that have plagued this industry for a while now, and each time the network get congested resulting into high fees in the bitcoin network, it always leave a bitter experience for most active bitcoin users like in a situation were you are in dear need of your bitcoin and no matter how small the amount of bitcoin you want to send you get charged a high fees which is something that not many will be cool with me, although the network may get to a cleaner stage where no much attacks that could trigger any more of such network bad experience.

The damage is done in some cases. The irritated user might move permanently to some other altcoin with better experience.

[Wiwo]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

I remember a particular event in the bitcoin ecosystems some year back when I was at the new to the industry a d not understanding how the bitcoin memopool congestions bitcoin fees and network..

Time is very important because in my own situation, I hard to pay above $20 for I

[kro55]

I believe that small investors like us will no longer have a chance to use bitcoin, not to mention high fees are not a problem.

What's stopping small investors from using BTC, a lot of us here are not whales, so we mostly fall under the umbrella of small investors, but we still use BTC, maybe not for micropayments, but for cross-border and macro payments and also as an investment and hedge against inflation.

I'm talking about a future where bitcoin is globally adopted and everyone uses bitcoin. If we don't have a solution for bitcoin transaction fees, what will happen?
BRC and Rune alone caused the bitcoin network to become congested and fees to skyrocket. So what happens when there are billions of people using bitcoin and transacting every day?

Not to mention, this will make bitcoin unable to become a means of payment, people will hesitate to use bitcoin for payment when having to pay additional transaction fees. Don't underestimate high transaction fees, this is a hindrance for bitcoin.

Take note that tx fees are not always high, many times there is no congestion in the network and it is very cheap to make tx's in such times. Tx fee is ~ 3 sat/vB right now, so it is not expensive.

Do you think BRC and Rune will stop anytime soon? I'm not that naive and I bet you that as the market heats up again, things like BRC-20 will continue to appear and the bitcoin network will continue to get congested. To be a means of payment, we need a stable network, not waiting for cheap fees to use or having to wait up to 7 days to complete a transaction when bitcoin is congested.

And as I said: what will happen when bitcoin is widely used in the world, does that mean transactions will be 10, 100 or even 1000 times more than now and what do you think the transaction fees will be? We need a long-term solution for the future, not just looking at the present.

[mich]

Yes those Bitcoin fees do make me mad if I must sell some of my coins. I do not send alot of Bitcoin but paying those fees I do not like to spend satoshis for that.
And if it is congested then we are paying so much more for fees. I wish there was a way for us to avoid having the fees. But then it would not be Bitcoin without them.

[KiaKia]

Especially at times when there is so much congestion, the fees increase by a large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it?

You are welcome.

I have gotten used to the congestion and Bitcoin's high transaction fee, it doesn't happen all the time so that's fine by me, I am someone who will go for what Bitcoin has to offer me as my store of value rather than the charges on transaction fees, nothing else does it better than Bitcoin and no blockchain project is 100% perfect in this crypto space.

The last time I experienced a high transaction fee was in 2023 I think, it's been months now, I had to use Booster online and someday I had to leave my Bitcoin in my wallet until the fee was fair enough, if you are moving small BTC then you will have a problem, but for those with high amount of BTC, they dont mind moving their BTC around.

If you want to know how I felt then I wasn't happy, I was sad because I needed to make transactions at the time, but I got used to it, even some BM on this forum started using USDT to pay members instead of BTC, but a few weeks later thing went back to normal.

[reagansimms]

Especially at times when there is so much congestion, the fees increase by large amount. For small transactions, the fees is more than the transacted amount. Does it irritate you sometimes or you are fine with it ?

Obviously, no one is comfortable with high transaction fees for small transactions, but you can wait out the congestion to delay transactions until the transaction fees return to normal. You must be prepared to face this situation so that you are not too disturbed when transaction costs soar. If your goal is to store Bitcoin for the short term, you should leave a small portion of assets that are ready to bear the risk in the Exchange wallet so that you are not disturbed when transaction costs are high. Storing assets in an Exchange wallet is not the best advice, but if the amount is small and you are willing to take the risk, you will not experience any problems with transaction fees.

[fuguebtc]

No one feels comfortable spending a lot of money on transactions, especially small transactions, but we need to know that it is the price we need to pay. If we want bitcoin to maintain its decentralized nature and protect our privacy, paying higher fees is acceptable. Like any other service or product, if we want better quality, we need to pay a little more than others.

Nothing is absolutely perfect: if we want privacy, want to ensure safety, we need to accept high fees + slows and vice versa. Bitcoin offers privacy and security but sometimes comes with drawbacks like high transaction fees and congestion. Meanwhile, altcoins will have cheaper fees, faster speed but the network can be attacked at any time, our privacy is gone. The choice is up to each person.