Post
Topic
Board Bitcoin Discussion
Re: Bitcoin fees so high?
by
bill gator
on 17/12/2017, 10:35:35 UTC
why has the bitcoin fee for each transaction recently been so high?
It was easier to send 10-15 usd before but these days the fees are more than that.
Any wallet which takes less fee?Im fine with delayed confirmation.

Fees are not determined by the wallet, unless you are using some strange off-market wallet that none of us tend to use. The fees are determined by the amount of inputs your transaction has, and the amount of received-transactions that constitute the amount you're trying to send is what is called thee inputs. These inputs add Size to your transaction, and you pay a transaction fee based on size, Satoshi per Byte. Each input adds something like 180-Bytes if I'm not mistaken onto your transaction; I was sending transaction fees of 175 Satoshi per Byte and getting my transactions confirmed almost immediately even at the height of the congestion a few days ago.

Your 10-15 USD may be difficult to send because of the manner in which you have received it, also with the price of a single Satoshi being so "high" right now, it causes ever input towards your transaction to be extraordinarily costly. It's easier to not think about Bitcoin in terms of USD in my opinion, if you think about the fees in this way you'll never send any coin and may miss out on some opportunities, because you're irrationally upset about things you should already understand.

No wallet can "take less fees" and give you any better outcome, this is determined by miners and the network itself. The wallet is just the customer representative you're choosing to be upset with today. I say hold your coin until it is worth it to move around or eat your losses and get out of the game before the fees are even more USD.  Roll Eyes