Tag: fees

NewsBTC Crunchbase Bitcoin

Crunchbase Feels Bitcoin Lost Sight of Being a Medium of Exchange No Comments

The opinions on the current state of Bitcoin are rather divided, to say the least. Some people think it's doing well, whereas others grow increasingly worried. According to Crunchbase, Bitcoin is no longer a means of exchange. Instead, it has become slow, expensive, and anything but convenient. This is anything but a popular opinion, mind you, but there is some truth to this statement as well. ...


Bitcoin Transaction Fees Keep Doubling Nearly Every Three Months No Comments

Bitcoin transaction fees remain a big problem in the cryptocurrency world. It seems there is no real short-term solution to resolve this problem whatsoever. Some network upgrades are in development, but they might take months or even years to come to market. An interesting chart shows how the Bitcoin fees have doubled nearly every three months. These numbers are based on the median average fee, mi...


Andreas Antonopoulos Receives a $1.5 Bitcoin Donation With $13.46 in Fees No Comments

One of the bigger stories last week how Andreas Antonopoulos received a lot of Bitcoin donations. After being publicly "shamed' by Roger Ver, the community showed their goodwill. One thing that seemed to go by unnoticed is how the high Bitcoin fees play a big role in all of this as well. More specifically, one donation worth $1.5 carried a $13.46 transaction fee. Bitcoin becomes less and less suit...


NewsBTC Bitcoin Mempool

Bitcoin Mempool Clogs up With Unconfirmed Transactions Again No Comments

Bitcoin network issues have been apparent for quite some time now. Especially when it comes to the mempool, things get out of hand quite regularly. It seems the backlog is filling up once again. With over 70,000 unconfirmed transactions hitting the network, things aren't looking all that great. This is mainly due to the number of transactions per second, surpassing the 34 mark. Whether or not this...


BitPay CEO Claims Current Average Bitcoin Fee Makes 57.26% Wallet Balances Unspendable No Comments

Everyone knows the Bitcoin transaction fees always spark new debates. In most cases, those discussions are not going all that well. Tony Gallippi, the CEO of BitPay, isn't a big fan of this situation either. Instead, he points out how over half of the current Bitcoin wallet is unable to spend their balance. This is mainly due to the balances being lower than the actual transaction fees. There is s...


Bitcoin Fees Significantly Decline as SegWit Adoption Reaches 14.5% No Comments

Within the past week, the percentage of Segregated Witness (SegWit)-enabled transactions in the Bitcoin network has increased from 9 percent to 14.45 percent, decreasing Bitcoin transaction fees, the size of the Bitcoin mempool, and blocks. SegWit nears 15%. Transaction fees down. Average #bitcoin block size 0.82 MB. Most importantly, Bitcoin mempool size at 6 million. pic.twitter.com/FSuqSaOqJ...


NewsBTC COinbase BTC Fees

Coinbase Lets Users Pay 100 Times the Normal Bitcoin Withdrawal Fee No Comments

For quite some time now, people have been wondering why is pushing up Bitcoin network fees. For some reason, an unknown entity is trying to up the average transaction cost. It now appears Coinbase is the guilty party. In fact, they are overpaying fees by as much as 10,000%. This is not good news for the company, as they are literally bleeding money. Paying a too high transaction fee for Bitcoi...


Bitcoin Payment Channels Will be as Expensive as Using Regular Payment processors No Comments

For quite some time now, developers have been exploring the option of Bitcoin payment channels. On paper, such small transfers should be subject to lower fees. That may not be the case, though, according to a recent post by Ryan X. Charles. In fact, he states payment channel network transactions may be at least as expensive as traditional payment processors. That is not what people are hoping for,...


Xapo Users Will Now Pay All Withdrawal Fees Themselves Due To Mounting Costs No Comments

Quite a few Bitcoin companies are passing transaction fees along to their users. This has been quite notable among cryptocurrency exchanges as of late. Xapo, a wallet and debit card provider, is now doing the same. In the next few days, all users will pay the mining fee themselves when moving funds off the Xapo platform. This is slowly becoming the norm for any business dealing with Bitcoin. Xa...


NewsBTC Coinbase TX Fee Change

Coinbase Will No Longer Pay Network Transaction Fees For All On-chain Transfers No Comments

It is evident something has to be done about the rising bitcoin network transaction fees. Coinbase, a popular exchange and wallet service provider, acknowledges this problem. In fact, the company will no longer pay transaction fees for on-chain transfers come March 21st. The company has paid these fees since its inception, yet the costs have become far too high to sustain this business model. I...


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