Bitcoin transaction cost is too high


#1

What is happening
will it change after adjustment since the transaction cost is being affected by the crazy price rise


#2

Various btc transaction costs are very different in each market, and indeed very high. maybe because btc as a special coin, and in great demand the various markets offer high fees.


#3

yes yes i have seen so
btc is high valued coin and great demand so market offer high fess


#4

The pricing of the transactions within bitcoin was just the effect of its price hike in the market. Due to the rise of the bitcoin price, it is just fair that the transactions will also be brought up into rise also making the price transactions too expensive for just one trasaction to be made. So the best thing to do to get along with this price hike is to make your transactions you make bigger than the transaction fee.


#5

ves but all are in business and business mean to earn profit so they do
to all to earn by transaction fees
that is not bad


#6

High cost was due to the price hike before. Normally, to ease the congestion and for your transaction to get in faster that the others you need to pay more. Honestly, during that time, the cost seems to be unreasonable. However, be it noted that in sats/btc it does not make so much difference, only if you convert it to fiat currency, the fee seems to be so pricy. High cost transactions is on of the main focus of most start ups today. You’ll observe that more and more blockchain related projects are aiming to reduce transaction costs as much as possible. Also, be it noted there has been lightning network to ease this problem on speed.


#7

they should be reduced transaction fees so that traders get relief from transaction fees burden
and feel ease to trade with exchanges


#8

Yeah we all know that. You can set as low transaction fee as you want however, your transaction may never be picked up and get lost within the network. We are all depending on the developers, how they can make it more cost effective on our part. Take note, it is not only the traders that suffer. And as for trading, exchanges have different scales on fees while doing trading transactions. We cannot impose on their rules regarding that. Also for their withdrawal fees, sometimes it’s fixed sometimes not. You can set low too, but the risk is yours. These rules are dependent on them not on the blockchain network. But for regular transactions within the network, we shall wait for the developers to do something, it’s easy being said than done. That’s why we look for alternatives, that’s why there are new blockchain projects with similar or more objectives. We cannot say, that it will be bitcoin forever on top. We never know because we always look for something better, that will ease our current issues on the generally used blockchain network.


#9

yea i do so
and everybody need doing this to make lower transaction fees
but it should not very much lower then you can lost
so set proper fess price