Quote from: Greenkarki on January 10, 2018, 12:34:39 AM

Quote from: marinko9 on January 09, 2018, 09:04:49 PM

I have just made a withdrawal from Coinbase of 0.00581882 BTC and the 0.00120204 BTC was a transaction fee!?

So, to the end BTC address there was only 0.00461678 BTC!

Why are the transactions fees so big. What is the point here?

We have an announcement in Coinbase.com that they are woking on the backlogs. I am sure once the backlogs are cleared, the trasaction fees may get reduced. .0012 is so costly here. Even localbitcoin.com as well, costs .0009 for incoming trasactions. So when you change .005 into your fiats, you would almost loose .0021 btc. Really worried at the cost.

Wait, what backlog? Their users' transactions? Because I'm pretty sure they have no control over that. That's why they're charging high fees in the first place -- so that their users' transactions can be confirmed as soon as possible.

What they can really do to help clear the transaction backlog is to use Segwit. I know that they already plan to have it implemented by the end of the first quarter of 2018, but man this should have been a long time coming.

Yeah the cost is worrying, but the crypto market as a whole is in a complete uproar right now. Some exchanges are even denying registrations. Crypto grew too big too fast, and while that shouldn't be too much of a problem long-term, it's pretty inconvenient at the moment.