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❓ASK Has anyone noticed major bitcoin reduction in fees?

AudraMiller

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The bitcoin cryptocurrency has been quite hard to make use of for small transactions because there is quite a bit of transaction fees that are associated with the coin. And this makes it hard as well to use the last bit that you may have in your wallet. This morning i noticed however that with bitpay i was able to send around 3 dollars of bitcoin to another wallet of mine, with a transaction fee of less that 20 cents for a high priority transaction. Has anyone else noted this as well? This was quite surprising given that the online transaction fees show in excess of four dollars per transaction. Is this limited to bitpay or are you noting this on other wallet as well?
 
I think that it is only limited to bit pay as I do not really know any other platform that would allow one to send bitcoin for such a low amount.
 
I have not used bitcoin for sometime now because I am holdl my own in exchanges . Well it could be because of reduction in transaction
 
I have not used bitcoin for sometime now because I am holdl my own in exchanges . Well it could be because of reduction in transaction
This was my thinking as well however if there is reduction in cryptocurrency transactions related to bitcoin then I would expect that the transaction fee would still be a couple of Dollars at the very least because bitcoin does not have the capacity to deal with many transactions at the same time. So this was rather surprising to see.
 
This was my thinking as well however if there is reduction in cryptocurrency transactions related to bitcoin then I would expect that the transaction fee would still be a couple of Dollars at the very least because bitcoin does not have the capacity to deal with many transactions at the same time. So this was rather surprising to see.
Am thinking that it could be as a result of the dip in the market which made transaction rate to reduce and subsequently reduced the gas fee .
 
Am thinking that it could be as a result of the dip in the market which made transaction rate to reduce and subsequently reduced the gas fee .
This was possible however to the extent that the transaction fees dropped it did seem quite on reasonable considering it a priority transaction was occurring at around 2 satoshi per byte. This was quite a significant increase and if they can maintain this moving forward then I think that bitcoin can actually become a very good coin for transactions.
 
This was possible however to the extent that the transaction fees dropped it did seem quite on reasonable considering it a priority transaction was occurring at around 2 satoshi per byte. This was quite a significant increase and if they can maintain this moving forward then I think that bitcoin can actually become a very good coin for transactions.
I hope so but the fact is that once the transaction increases , the transaction fee is bound to increase simultaneously. This is situation here
 
I think probably the bitcoin price and market was down , so there are less transaction on the coin network and this contributed to the low fees
 
I think probably the bitcoin price and market was down , so there are less transaction on the coin network and this contributed to the low fees
Hopefully this is something that continuously happens and this gives bitcoin the opportunity to update their network to be handle higher traffic volumes much easier as well.
 
Hopefully this is something that continuously happens and this gives bitcoin the opportunity to update their network to be handle higher traffic volumes much easier as well.
Yeah a time would come when the bullish run would start and they have to get prepared , the low fee is another medium for people to process transaction that are pending due to high fee
 
Not really.. i guess they needed to lower it since price is low nowadays.. if they keep the huge fees who will want bitcoin then.. people will move to eth whom lower fees aswell
 
At times I think this market problem of having high fees could be a thing of the past beause it can be controlled but its always refuted that miners have no control at all.

Anyways its a good move that bitcoin transaction fees are low.Though am currently not using bitcoin in transactions.
 
The bitcoin cryptocurrency has been quite hard to make use of for small transactions because there is quite a bit of transaction fees that are associated with the coin. And this makes it hard as well to use the last bit that you may have in your wallet. This morning i noticed however that with bitpay i was able to send around 3 dollars of bitcoin to another wallet of mine, with a transaction fee of less that 20 cents for a high priority transaction. Has anyone else noted this as well? This was quite surprising given that the online transaction fees show in excess of four dollars per transaction. Is this limited to bitpay or are you noting this on other wallet as well?
Yeah! I made some transactions recently and I noticed it. But I think it's because it's gradually finding it's way back from the dip.
 
Yeah! I made some transactions recently and I noticed it. But I think it's because it's gradually finding it's way back from the dip.
If it is finding its way back from the dip then i think that the transaction fee will actually increase because there is likely going to be more traffic on the bitcoin network then.
 
I think a friend told me this a few days ago but haven't noticed it myself because I'm just holding my coins but if it true then it about the reduction in the Bitcoin transactions volume
 
I think a friend told me this a few days ago but haven't noticed it myself because I'm just holding my coins but if it true then it about the reduction in the Bitcoin transactions volume
We can only confirm this to be a positive news when the fees remain low when there is high volume of bitcoin transaction . The former may be because of low transaction
 
I think a friend told me this a few days ago but haven't noticed it myself because I'm just holding my coins but if it true then it about the reduction in the Bitcoin transactions volume
I was also holding bitcoin but found that with the low transaction fee i was able to move it to an exchange in order to secure the value in a more usable coin for purchases should i require that.
 

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