Quote from: bitcoinbabu on June 21, 2017, 05:18:24 AM

omg!!

blockchain transaction fees killed my entire 2 days earnings on bitcoin 40$

i never know and wanna try exodus wallet so i transfered frm blockchain to exodus 40$ and they cut 16$ as transaction fees.

HOLY MOM!! Wth is this fees???

anyone experience the same...

I just sent a transaciton across the bitcoin blockchain, and it cost me 0.0013 BTC to send which is like $3.5 i think. Perviously this was worth 0.01 BTC before bitcoin price rose dramatically. I know this is a bit hard to understand why, but the basic version of it is that bitcoin blocks are full, and the amount of transacitons on the bitcoin network is growing, so the miners only accept transactions with higher and higher transaction fees everyday(supply and demand).

Quote from: Dudeperfect on June 21, 2017, 07:30:14 AM

Well, we simply can't do anything for it. This is the reason why bitcoin is still struggling at $3K level otherwise considering the user base and world's perception I bet it could have reached $6K to $10K with this kind of support. We need to find a concrete yet viable solution for this ever increasing transaction fees. Bitcoin is still my favorite option for international transaction as it is still cost effective but I am worried about the growth of the transaction fees as it might surpass the cost of fiat transactions for the same amount.

Agreed. Without all this scaling debate, we could well be at $10k by now. But now we're struggling to break $3k because of this. I think that once Segwit is activated, things will go on the right track and hopefully the damages can be reversed.

Still though, bitcoin is much more secure to use and cheaper than most bank transfers internationally. So don't complain too much about it - try to condense your transactions into a small amount so you don't have to pay too much.