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And, yet, it cost me eight bucks to move a few hundred bucks from Coinbase BTC into USD. Also, are BTC transaction fees really that low ($1 for a 10m transacti
by SwellJoe 9y ago
And, yet, it cost me eight bucks to move a few hundred bucks from Coinbase BTC into USD.
Also, are BTC transaction fees really that low ($1 for a 10m transaction)? I've been hearing complaints for a while now about how long it takes to process minimum fee transactions. I don't have any experience with it, as I haven't messed around with BTC in a few years, but, it's definitely part of the argument for the changes happening tomorrow.
- rothbardrand 9y agoThere was a spam campaign for the last 9 months from the pro-centralization camp to drive fees up to fit their narrative that we needed centralization (bigger blocks). But that stopped when segwit became clear it would lock in, and not free transactions are clearing. In the past several weeks I've done transactions for less than a dollar that cleared in the next block. (the cost is more to do with size than the amount of money-- $1m in a single address costs a lot less than $1m in 1M addresses) Unfortunately due to the lingering effects of the spam attack, some fee estimation software is way off.
- soared 9y agoStop using coinbase then? They double your transaction fee and take half as revenue.
- SwellJoe 9y agoPerhaps I should use BTC-e to convert to USD...Oh, wait... So, what other reputable exchange is there that works for BTC->USD and vice-versa and doesn't have ridiculous fees (I agree that Coinbase fees are outrageously high).