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Author Topic: Bitcoin (Low) Fees Monitoring  (Read 3594 times)

Offline Zed0X

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Bitcoin (Low) Fees Monitoring
« on: May 04, 2021, 05:09:56 AM »
If you've been postponing moving your BTC, now is your best chance to do it. All the issues that happened in China which affected the miners had been resolved and everything's back to normal capacity.

According to https://mempool.space/, fees could go to as low as 4 sats/vbyte. Take advantage of this chance.



I plan to bump this thread when fees becomes low.

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Bitcoin (Low) Fees Monitoring
« on: May 04, 2021, 05:09:56 AM »

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Offline Sumaiya2

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Re: Bitcoin (Low) Fees Monitoring
« Reply #1 on: May 04, 2021, 11:49:15 PM »
Yes sir you are right I agree with you.  Because in the past Bitcoin fees cost a huge amount.  But now it is back to normal.  Tokens can be transferred only if there is no more fee.  And more fees are likely to be lower in the future.
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Offline Lukasz

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Re: Bitcoin (Low) Fees Monitoring
« Reply #2 on: May 05, 2021, 12:36:01 AM »
One could speculate that the "sudden outrage"  was a manipulative move the artificially "dump" the price even further for what the indicators and TA was showing anyway but fees on this level are acceptable still with BTC at 150 k it is going to be expensive to move BTC
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Offline Zed0X

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Re: Bitcoin (Low) Fees Monitoring
« Reply #3 on: May 05, 2021, 12:10:28 PM »
Yes sir you are right I agree with you.  Because in the past Bitcoin fees cost a huge amount.  But now it is back to normal.
How did you go from Bitcoin fees to token? BTC is a coin.

Tokens can be transferred only if there is no more fee.
Errr There are only a few coins that you can transfer at zero fees. All tokens requires some gas to be transferred in a decentralized network.

And more fees are likely to be lower in the future.
Nobody can tell.



One could speculate that the "sudden outrage"  was a manipulative move the artificially "dump" the price even further for what the indicators and TA was showing anyway but fees on this level are acceptable still with BTC at 150 k it is going to be expensive to move BTC
Miners turning off their rigs to fake the outage doesn't make any sense. Why would they even want to play the manipulation game when they want to sell their mined BTC to the highest price possible?

Offline Mj joy

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Re: Bitcoin (Low) Fees Monitoring
« Reply #4 on: May 05, 2021, 02:08:58 PM »
If you've been postponing moving your BTC, now is your best chance to do it. All the issues that happened in China which affected the miners had been resolved and everything's back to normal capacity.

According to https://mempool.space/, fees could go to as low as 4 sats/vbyte. Take advantage of this chance.



I plan to bump this thread when fees becomes low.
You are right, I agree with you.Reducing the cost of BTC transfer is a little more convenient for all of us.Because of its cost, coin transfer has become a huge problem for everyone.Considering the rate at which investments are being made on Bitcoin, I think there is a risk that many more costs will be reduced in the future.I personally certainly hope that the cost of Jane BTC is greatly reduced.

Offline Zed0X

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Re: Bitcoin (Low) Fees Monitoring
« Reply #5 on: May 06, 2021, 08:41:27 AM »
~
Considering the rate at which investments are being made on Bitcoin, I think there is a risk that many more costs will be reduced in the future.
What risk? How is cost reduction risky?

I personally certainly hope that the cost of Jane BTC is greatly reduced.
Jane?



Please try to improve your English using online tools such as Grammarly. It will help you a lot (seriously).


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Re: Bitcoin (Low) Fees Monitoring
« Reply #6 on: May 08, 2021, 04:35:51 AM »


Offline TomPluz

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Re: Bitcoin (Low) Fees Monitoring
« Reply #7 on: May 08, 2021, 07:05:35 AM »


In the past, during bull run or when the price of BTC is moving higher we can expect congestion in the network resulting into high mining or confirmation fees. But this time except for that brief incident in China, everything seems to be normal. I think we are now seeing the stability of Bitcoin when it comes to fees. The same thing can not be said with Ethereum, sadly. Kudos to Bitcoin and let's hope that there will be no incidents that can be creating the impetus for the fees to rise up as high fees is actually a big insult to the very cryptocurrency market we are in. Fees should be low and transactions fast.

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Re: Bitcoin (Low) Fees Monitoring
« Reply #8 on: May 08, 2021, 06:04:47 PM »
Currently, token transactions in Bitcoin or cryptocurrency cost less.  But in the past, a few days ago, the fees were very high, which became the biggest obstacle in the transaction.  But now the fee is very low due to which huge benefits are available now.

Offline Malam90

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Re: Bitcoin (Low) Fees Monitoring
« Reply #9 on: May 08, 2021, 06:20:47 PM »
After increase of BTC transaction fees, i have totally postponed Bitcoin transactions. Last 6 months, i have made only Ethereum, BNB and TronTRC20 transaction by avoiding Bitcoin. Although i only transfer Ethereum for ERC20 but most of the time, i also avoid it. Now BSC is the most preferable transaction method. I have saved small amount of Bitcoin in my Blockchain wallet and i have forgotten it for high transaction fees. I will try to move it if lower fees works till now. Thanks for informing us.

Offline Zed0X

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Re: Bitcoin (Low) Fees Monitoring
« Reply #10 on: May 09, 2021, 10:48:57 AM »
Low transaction fees over the Bitcoin network continues.


After increase of BTC transaction fees, i have totally postponed Bitcoin transactions. Last 6 months, ~
There are many times that fees have dropped to around 10-25 sats/vbyte ($1-$2) in the last six month. They are way lower than standard Ethereum transactions. You just have to know when it mining difficulty is adjusted and when mempool is usually less congested.

Currently, token transactions in Bitcoin or cryptocurrency cost less.
There are no token transactions on Bitcoin.

~ I think we are now seeing the stability of Bitcoin when it comes to fees.
It's not the network stability but the machines used for mining are more powerful now and has higher hashrates compared to the early days.

Fees should be low and transactions fast.
You cannot always assume this will happen on a decentralized network.

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Re: Bitcoin (Low) Fees Monitoring
« Reply #11 on: May 09, 2021, 11:38:59 AM »
Now the situation with cryptocurrency gas fees is very good.  Gas fees are much lower if any token is transferred.  The amount of cryptocurrency day transactions has increased a lot due to the current low cost of gas fees but when there were more tokens there would have been much less transactions due to higher gas fees.


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Re: Bitcoin (Low) Fees Monitoring
« Reply #13 on: May 09, 2021, 05:54:00 PM »
Yeah we're here waiting for a good timing when trading Bitcoins because of that skyrocketing fees. But yeah still my question is that does transaction fees be back to a dollar or less or it is just a dream?
How effective will Bitcoin be used as a means of payment in a person's daily life if the transaction fee is even $ 1? When it comes to buying bread or a cup of tea, who can pay $ 1 per transaction?

Offline Ferki

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Re: Bitcoin (Low) Fees Monitoring
« Reply #14 on: May 09, 2021, 06:01:08 PM »
Yeah we're here waiting for a good timing when trading Bitcoins because of that skyrocketing fees. But yeah still my question is that does transaction fees be back to a dollar or less or it is just a dream?
How effective will Bitcoin be used as a means of payment in a person's daily life if the transaction fee is even $ 1? When it comes to buying bread or a cup of tea, who can pay $ 1 per transaction?

I pay € 25 for every Fiat transaction I make with my elders. All of this within Europe but not within the EU.
In comparison, the crypto transaction is much cheaper. And there are even transactions that do not cost anything 
« Last Edit: May 09, 2021, 06:05:36 PM by Ferki »

 

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