Who’s got the lowest Bitcoin fees to transfer Bitcoin. I just got ripped off by exodus so I need a new wallet.
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Who’s got the lowest Bitcoin fees to transfer Bitcoin. I just got ripped off by exodus so I need a new wallet.
are you sure it was exodus and not just the regular btc network fees? I don;t think exodus marks anything up, it's just a wallet, no?Quote:
Originally Posted by Drawingdead
Bitcoin ATM at the D Hotel in downtown Las Vegas, Nevada - January 14th 2021.
https://pbs.twimg.com/media/ErwRZlUV...g&name=900x900
if the dude's looking for the lowest bitcoin transfer fees, a btc ATM ain't gonna be the place to find it.
Yeah, it's the network. Don't bother trying to switch wallets to avoid this.
The fees go to the bitcoin miners, who also process your bitcoin transactions. The higher the trading activity, the higher the fees.
The bitcoin block size is 1 MB, which means that miners can only confirm 1 MB worth of transactions for each block. This occurs once every 10 minutes. If the number of transactions waiting to confirm exceeds what can fit in 1 block, the transactions confirm in the order of who is willing to pay the highest mining fees -- something you can set yourself on wallets like blockchain.com.
Some simpler wallets simply automatically set the fees to what they need to be in order to process in a timely fashion.
The fees also aren't directly correlated with the amount of BTC sent, so small transactions will get screwed the worst, percentage-wise.
This is one of many reasons BTC itself will never gain mainstream usage.
You’ve got to be kidding me they charged me 20$ on a 110$ transfer lol. My transfers last week were 6$. I know the prices have sores for transfer fees but that seemed excessive.
Thanks for the information everyone, I’m new to Bitcoin
I’ve seen this in downtown a bunch of times. I’ve never seen anyone use it.Quote:
Originally Posted by TheXFactor
After reading the comments I just need to start doing 1k+ transactions.Quote:
Originally Posted by Crowe Diddlyare you sure it was exodus and not just the regular btc network fees? I don;t think exodus marks anything up, it's just a wallet, no?Quote:
Originally Posted by Drawingdead
Mempool has been high and stayed high since the start of the year. Don't cheap out on transaction fees when the mempool is high, unless you're in no hurry to get your transactions confirmed.
https://www.blockchain.com/charts/mempool-size
So the lower this number the cheaper the fees?Quote:
Originally Posted by Belly Buster
In generalQuote:
Originally Posted by DrawingdeadSo the lower this number the cheaper the fees?Quote:
Originally Posted by Belly Buster
:yes2
In simple terms, yes. The mempool is the pot of unconfirmed transactions. Miners get the choice of transactions to include in the block, and if there's a lot of unconfirmed transactions and you jew out on your fees then you're not getting in.Quote:
Originally Posted by DrawingdeadSo the lower this number the cheaper the fees?Quote:
Originally Posted by Belly Buster
I appreciate the help! I’m still pissed I lost 20$ for nothing.
If you send with a lower transaction fee, you can use an accelerator to speed it up if it is not being confirmed.
shits crashing officially dd
I showed this thread to my friend that works are a gov office and they rolled their eyes and I asked why? They said they make a lot of fraud arrests connected to Bitcoin. I didnt get additional details, but this person is legit. Does this sound logical to you guys in the know?
Quote:
Originally Posted by desertrunner
There’s fraud arrest for every kind of monetary transactions. Bitcoin is a new currency without regulators, of course there’s going to be issues and theft. Bitcoin works very well for certain transactions especially gambling and other offshore purchases.
I agree and figured this, but my friend really rolled their eyes like it was a high level issue. I kinda figured it was a medium level continuous crime, not varsity level. Big tone level it is. Thanks for the tid bit.Quote:
Originally Posted by DrawingdeadQuote:
Originally Posted by desertrunner
There’s fraud arrest for every kind of monetary transactions. Bitcoin is a new currency without regulators, of course there’s going to be issues and theft. Bitcoin works very well for certain transactions especially gambling and other offshore purchases.
did you really pull out your obamaphone and show PFA to whoever works at the place where retards get disability checks?