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Author Topic: Have you witnessed Bitcoin transaction fees?  (Read 5291 times)

Offline Willitivity1

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #15 on: February 12, 2021, 03:48:59 PM »
I also haven't used bitcoin to transact for a while now maybe because even with the SegWit lower the amount per transaction, if I choose an amount that is too low I might have to wait for a while to get it, the last time I did a bitcoin transaction and used a low fee , it took over a week plus to get to the destination and I don't want that to happen again, so just like you TRX is the major cryptocurrency I use for transactions, because the transaction fees are pretty low.

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #15 on: February 12, 2021, 03:48:59 PM »

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #16 on: February 12, 2021, 06:03:18 PM »
Guys, I dont understand, why are you so worried about Bitcoin transaction fees. You can pay $40 for a transaction or $1 for same transaction. Everything depends on how quick you want receiver to get BTC. Set 1sat/byte fee and wait for weeks for transaction to reach. Most important, transaction will reach receiver with 100% probability. Despite Ethereum, where network could simply burn your gas and your transaction will return.
The crypto market is still characterized by high volatility, and many people want to send Bitcoin to an exchange or between wallets for 15-20 minutes at a reasonable cost. Right now the cost is too expensive and the people who rejoice are just the miners.
I don't think I have the patience to wait for 1 transaction in a week, if the company or the state delays the salary or pensions 1 week, protests will be on the street :)
SegWit/Linghtning used to be a good solution to increase Bitcoin's transaction speed, but they also have limitations in capacity. We are in need of more solutions to this problem!
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Re: Have you witnessed Bitcoin transaction fees?
« Reply #17 on: February 12, 2021, 06:54:25 PM »
I had a recent case where I was sending bitcoins from one exchange to another and the commission was quite high, but I could not do anything to reduce it manually. The commission was set automatically and did not change. Perhaps as a way out of this situation, to make transactions in DOGE or Tron.
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Re: Have you witnessed Bitcoin transaction fees?
« Reply #18 on: February 12, 2021, 06:57:38 PM »
The fee would be higher if you want an instant transaction, try to set low fee if you are not in hurry but in exchange transaction we can not set it low.. it is fixed, so face it if you want to do transaction. This bitcoin fee is insane and also ethereum..

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #19 on: February 12, 2021, 11:42:15 PM »
Please, don't compare the transaction fees about now and some years ago. because the price of Bitcoin is also very different. if we compare it and convert it to fiat, of course, the price will go higher, very high moreover it is because the price of BTC also increase more than doube, but triple. So, now is now.
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Re: Have you witnessed Bitcoin transaction fees?
« Reply #20 on: February 13, 2021, 06:19:51 AM »
Please, don't compare the transaction fees about now and some years ago. because the price of Bitcoin is also very different. if we compare it and convert it to fiat, of course, the price will go higher, very high moreover it is because the price of BTC also increase more than doube, but triple. So, now is now.

Hi, probably you haven't fully read.  :)
Whatever the present market price, it doesn't matter. It will rise simultaneously but the comparison here with points. One year ago, it took  around 10000 satoshi (0.0001 btc) to make transaction but with the passage of time, it has reached to now even 100000 satoshi (0.001 btc) which is 10x higher than past. This is the main focus.

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #21 on: February 13, 2021, 11:46:05 AM »
The crypto market is still characterized by high volatility, and many people want to send Bitcoin to an exchange or between wallets for 15-20 minutes at a reasonable cost. Right now the cost is too expensive and the people who rejoice are just the miners.
I don't think I have the patience to wait for 1 transaction in a week

I understand that, but topic starter did not mention how quick he wants the transaction to reach the receiver. He said that he was amazed by the price. I understand that if you want to get something quick, be ready to pay high price. I made a post about low sat/byte, because maybe he is not aware of that.

For example I have some btc in my wallet, and I want to convert them to fiat. I am not in a hurry, so I made a 10sat/byte fee transaction and get my btc on exchange in 2-3 days. Waiting few days is fine for me. Maybe waiting few day will be also fine for him.

P.S. for urgent cases I have a fiat salary :D
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Re: Have you witnessed Bitcoin transaction fees?
« Reply #21 on: February 13, 2021, 11:46:05 AM »


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Re: Have you witnessed Bitcoin transaction fees?
« Reply #22 on: February 13, 2021, 03:38:45 PM »
The higher the transaction fees the more perfect time for another blockchain to try their fast and reliable service with a lower fees. Through this the investors might change their interest from Bitcoin to Altcoins.

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #23 on: February 13, 2021, 03:43:56 PM »
I really feel very sad and uneasy about Bitcoin transaction fees that are getting more expensive. However, many say it is comparable to the price of Bitcoin which is also getting higher. I look forward to seeing these Bitcoin transaction fees decrease.
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Offline debra

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #24 on: February 13, 2021, 11:33:41 PM »
When it comes to the fee transaction of BTC, it is better not to convert it to USD because it will be so damn high if comparing the rate. That is sometimes as usual as the previous rate but now it is too hard because the price is very high. Free will be always following the rate of BTC itself
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Re: Have you witnessed Bitcoin transaction fees?
« Reply #25 on: February 14, 2021, 03:13:30 AM »
Not only me, it seems like a lot of people are annoyed and worried about the increase in transaction fees on Bitcoin and the ethereum basis. I do not know how long this condition will improve soon.
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Offline Paglamon

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #26 on: February 14, 2021, 11:41:46 AM »
Bitcoin transactions: Fees are under control. The price of Bitcoin is constantly rising. It is possible to make a profit by investing. Bitcoin is very important for transactions. So the transactions are constantly increasing. I think bitcoin transaction fees are under control. However, ETH transaction fee is not under control. Not normal for users, but bitcoin transaction fee is normal for users.

Offline Ferki

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #27 on: February 14, 2021, 12:22:42 PM »
The crypto market is still characterized by high volatility, and many people want to send Bitcoin to an exchange or between wallets for 15-20 minutes at a reasonable cost. Right now the cost is too expensive and the people who rejoice are just the miners.
I don't think I have the patience to wait for 1 transaction in a week

I understand that, but topic starter did not mention how quick he wants the transaction to reach the receiver. He said that he was amazed by the price. I understand that if you want to get something quick, be ready to pay high price. I made a post about low sat/byte, because maybe he is not aware of that.

For example I have some btc in my wallet, and I want to convert them to fiat. I am not in a hurry, so I made a 10sat/byte fee transaction and get my btc on exchange in 2-3 days. Waiting few days is fine for me. Maybe waiting few day will be also fine for him.

P.S. for urgent cases I have a fiat salary :D

You're right, that's what I found out.

The average transaction fee is 0.30 USD, but unlike banks, there is no fixed percentage for the transaction costs. Instead, Bitcoin users manually set their own transaction fees for each outgoing transaction.

I haven't made a pure Bitcoin transaction myself for a long time because I'm long-therm with Bitcoin

Offline Bit

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Re: Have you witnessed Bitcoin transaction fees?
« Reply #28 on: February 14, 2021, 11:12:21 PM »
We really cannot avoid the fees. The transaction fee of Bitcoin and also Ethereum is very big, moreover, ERC20. I think that this will be left behind because of the very high fees.
So far, the Bitcoin fee is still reasonable but it is likely changing even in SegWit
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Re: Have you witnessed Bitcoin transaction fees?
« Reply #29 on: February 15, 2021, 05:00:06 AM »
Actually high Ethereum network fees, I can't transfer my coins at all because in uniswap two steps fees are required , 1 step coin/ token approve and second is Swap. Another fees required to withdraw from wallets.
See the network Free below screenshot.

 

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