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❕NEWS Massive Bitcoin movement - Low transaction fee

AudraMiller

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When it comes to the bitcoin cryptocurrency i think that the one concern that has always existed in the bitcoin community was the fact that there is a lot of money that is spent on the transaction fees of bitcoin and this is a major concern. With the traffic on the network being extensive there were times that bitcoin transactions costed in excess of 40 dollars for a single transactions, which is ridiculous. However this has come down considerably since then. in recent news a 2 million dollar movement of bitcoin took place recently, and this large transaction only had a transaction fee of 78 cents. What are your thoughts on this?
 
That's wonderful to see that BTC gas fee which is too exorbitant have been slashed down drastically low which is pleasing to investors especially the small investors.
 
When it comes to the bitcoin cryptocurrency i think that the one concern that has always existed in the bitcoin community was the fact that there is a lot of money that is spent on the transaction fees of bitcoin and this is a major concern. With the traffic on the network being extensive there were times that bitcoin transactions costed in excess of 40 dollars for a single transactions, which is ridiculous. However this has come down considerably since then. in recent news a 2 million dollar movement of bitcoin took place recently, and this large transaction only had a transaction fee of 78 cents. What are your thoughts on this?
I think the fees should be even less. If this is a few satoshi per transaction, the money will still made by the pure amount of transactions that will happen. but greedy miners prefer the other way around
 
If Bitcoin will be a legitimate currency it definitely needs the lowest fees it can so people will consider using it. Because why would people use it if fiat is better
 
It is quite surprising that I could see few cents as transaction fees for bitcoin but on sighting this post, I tried sending my btc from Coinbase to binance and I was pleasantly surprised. I hope this continues even when btc is at its peak.
 
This is surprising , because I know that the fees are mostly high most especially when the person doing the transaction is sending a large amount of Bitcoin , or the transaction time would take time for it to be executed , because of the low fee
 
Could this be for real only 78 cents for that huge amount then that's really amazing. I think people would join in more if the gas fee for crypto currency not just Bitcoin will be this low
 
Yes you are right and the fact is that most of the people who are trying to get the massive payments are always using pools so that reduces the transactions cost to a low amounts and since it has a fixed fees almost so you can say about that its not related to something like the gas usage but a unit taken no matter how much money is moved in a transactions
 
It is quite surprising that I could see few cents as transaction fees for bitcoin but on sighting this post, I tried sending my btc from Coinbase to binance and I was pleasantly surprised. I hope this continues even when btc is at its peak.
i think probably you made use of lightening network to send the Bitcoin , because when using lightening network it actually comes with low fees , and I love to make use of it to carry out transaction , but the only thing I don't know is if Coinbase have intiated the lightening fee something because I heard they were doing something on it
 
i think probably you made use of lightening network to send the Bitcoin , because when using lightening network it actually comes with low fees , and I love to make use of it to carry out transaction , but the only thing I don't know is if Coinbase have intiated the lightening fee something because I heard they were doing something on it
That was not the case at the time but I am grateful for the numerous times I have had to use Bitcoin in transactions because the fees have been surprisingly low. Most times I had to be patient and try severally to ensure reasonable fees for my transactions.
 
You are right the fact is that most of the platform and websites have allowed their users to pay via the additional methods because they know that's how they can make additional revenue which is important especially in times like this so that's important to have success in business ...
 
I remember that there was a time that Bitcoin transaction fees were really high for sure. It really affected those of us who receive our online payments through Bitcoin. I remember that that is the time when beermoney forum substituted Bitcoin payments with Bitcoin cash. I am glad now that Bitcoin's transaction fees has gone down massively.
 
That was not the case at the time but I am grateful for the numerous times I have had to use Bitcoin in transactions because the fees have been surprisingly low. Most times I had to be patient and try severally to ensure reasonable fees for my transactions.
which exchange platform are you making use of to send and conduct Bitcoin transaction , because to me , the transaction fee is still very much high ,and the friends I have complains about it , now they make use of coinbase no fee transaction ,incase they are willing to conduct multiple transaction and others I think tho
 
which exchange platform are you making use of to send and conduct Bitcoin transaction , because to me , the transaction fee is still very much high ,and the friends I have complains about it , now they make use of coinbase no fee transaction ,incase they are willing to conduct multiple transaction and others I think tho
Some exchange sites still have really high Bitcoin transaction fees. I recently checked local Bitcoins platform and the fees was so high. I cannot use that site anymore to transact. Personally, I prefer using Coinbase and Binance. Their transaction fees is low and that makes it so convenient to use.
 
Some exchange sites still have really high Bitcoin transaction fees. I recently checked local Bitcoins platform and the fees was so high. I cannot use that site anymore to transact. Personally, I prefer using Coinbase and Binance. Their transaction fees is low and that makes it so convenient to use.
yeah Binance for me is befitting and the best when it comes to transaction fee ,that is why it's actually best to carry out short term trades , because your profit won't be eroded by high fees that take place in your trading activities , although have not really checked Coinbase like that
 
The last time I saw the bitcoin gas fees on Binance (more or less six months ago), they were still shamefully high. I'm not sure, but I'm doubting fees vary from a country to another. I'll search again, the next time I'll need Binance to see if something changed. If not and I still see high fees, it means the reduced fess don't work in Latin America. Very well: I'm not eager to sell my staked satoshis now and when it will be time to sell, I'll first convert to litecoin that count on very affordable fees.
 
The last time I saw the bitcoin gas fees on Binance (more or less six months ago), they were still shamefully high. I'm not sure, but I'm doubting fees vary from a country to another. I'll search again, the next time I'll need Binance to see if something changed. If not and I still see high fees, it means the reduced fess don't work in Latin America. Very well: I'm not eager to sell my staked satoshis now and when it will be time to sell, I'll first convert to litecoin that count on very affordable fees.

If the Bitcoin lightning network gets introduced in cryptocurrency exchanges soon, I'm sure bitcoin transaction fees would be the lowest. Right now only few exchanges support Bitcoin lightning network.

Another option is to trade bitcoins with Tron - TRX, Bitcoin Cash - BCH and Ripple - XRP apart from Litecoin LTC. All these cryptocurrencies have low transaction fees.
 
they know that's how they can make additional revenue which is important especially in times like this so that's important to have success in business ...
Nox Vidmate VLC
That's just it buddy, but remember not all crypto exchanges or wallets enables such kind of low gas fee around Bitcoin. Exchange like, paxful is still charging hell of gas fee when you're withdrawing your Bitcoin to another exchange. But the most so far is with 'Hitbtc, their charge is just so exorbitant enough.
 
I still find it difficult to believe such amount of money transacted with that little fees. But in online business anything can happen, maybe the exchange decide to charge such amount, because I believe it is the responsibility of the exchange to charge a gas fees, and bitcoin happen to be the number one choice of crypto investors making it to have high amount of gas fees company to other cryptocurrency.
 
which exchange platform are you making use of to send and conduct Bitcoin transaction , because to me , the transaction fee is still very much high ,and the friends I have complains about it , now they make use of coinbase no fee transaction ,incase they are willing to conduct multiple transaction and others I think tho
I have always made use of Coinbase and Trust wallet for Bitcoin transactions because I usually receive with them. However, on sending out to either Binance or Luno, I have always ensured that my timing and the fees end up favourable for me.
 

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