IMPORTANT! BTC transaction fees are TO THE MOON!$9/kb transaction!

in #bitcoin4 years ago (edited)

With the recent price surge in BTC, the blockchain is now more congested and busy than ever. I recently tried to make a transaction and was surprised when I actually noticed the mining fees involved. Here's a chart of the current BTC fees, it now costs $9 per kb.

Jesus, check out that spike. That's just at the $9 per kb. THAT'S INSANE!

Just something to share. I suggest everyone avoid transactions until this calms down. Besides, the way things are going, btc might hit the $5k predicted mark very soon!

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Yes. I sent a transaction yesterday and it cost me over $5...

Tried to buy a game on steam and I had to change my mind because of this. Buying things with BTC is just not worth it at this time of the month... I heard fees on BCH are 10 times lower. Jesus

Yes the fees are outrageous and going to continue to go up as the btc gets more popular.

That is why I think that BTC ends up used only for large transactions. The fees are tolerable when sending $50K but not when sending $5K.

Just noticed this aswell. Was going to send a small amount to Bittrex but I changed my mind when I was that it now costs 5$ just to send it. Insane.
Is BTC really expected to continue surging if the transaction fees increase this much as the price goes up?

It will probably fall in a couple weeks back to more decent stages. itțs just because of all the new money coming in and tons of numbers of transactions

geeze its like a sales tax///

Exactly... BTC will be surging to $5k and beyond, fees are just going to keep going up.

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