Bitcoin fees

[hevi-head]

Wtf has happened? Bough on coinbase today and went to send it my coinomi wallet. I always buy extra but it said “not enough funds to send”. Added more a couple times. Ended up costing close to $40 to send to coinomi then another $40 to send from coinomi. So $80 total for $260. I never paid much attention before (only been a couple months if that) but I know it was never near that high.

 

[VakarianSK]

I use Cash App and never have any kind of problems like this

 

[ChefTren]

Coinbase fees have gotten outrageous for sure. I’m looking for another alternative myself. I don’t use Coinbase to buy, but only to send

 

[ChefTren]

I use Cash App and never have any kind of problems like this

Cash app fees are significantly lower for sure

 

[hevi-head]

I use Cash App and never have any kind of problems like this

I used cashapp once, said fuck it for some reason and sent directly to somebody instead of through a wallet and they banned me. That was probably 4 years ago.
Been thinking of trying to set up another account

 

[hevi-head]

Coinbase fees have gotten outrageous for sure. I’m looking for another alternative myself. I don’t use Coinbase to buy, but only to send

But coinami was too. Was never close to today

 

[Type-IIx]

Mining fees are related to the # of blockchain transactions (i.e., each spent coin results in a computationally expensive cryptographic puzzle being solved by miners, computers aimed at ensuring that nobody double-spends their coins, sharing in the profits from these collective fees as an incentive to dedicate their computational power to the network, that are distributed after they "solve" the puzzle, i.e., broadcast a confirmation) being processed on the network. During higher volume periods, rates increase. You can decrease your priority in the queue and wait longer to have your transaction confirmed by the network, resulting in a lower fee for yourself, but may take an unreasonably long time.

 

[UnholyAlliance]

Mining fees are related to the # of blockchain transactions (i.e., each spent coin results in a computationally expensive cryptographic puzzle being solved by miners, computers aimed at ensuring that nobody double-spends their coins, sharing in the profits from these collective fees as an incentive to dedicate their computational power to the network, that are distributed after they "solve" the puzzle, i.e., broadcast a confirmation) being processed on the network. During higher volume periods, rates increase. You can decrease your priority in the queue and wait longer to have your transaction confirmed by the network, resulting in a lower fee for yourself, but may take an unreasonably long time.

I did the lower priority one before and took a day to get the funds transferred....I'll take the hit in order to move funds to another wallet faster.

 

[Type-IIx]

The BTC network seems to be rallying at the moment, probably because of perceived benefits to the security & legitimacy of the medium, and therefore long-term prospects for increased adoption after the regulatory action taken against Binance. It's a benefit to legitimate investors that these malfeasers are dealt with.

 

[Type-IIx]

I did the lower priority one before and took a day to get the funds transferred....I'll take the hit in order to move funds to another wallet faster.

Great. Do be aware, though, that past experience may not play out similarly this time. What I mean to convey is that volume of transactions and increasingly complex computational problems given finite computational reasources are the determinants of how long you have to wait.

 

[hevi-head]

I’d didn’t realize it was back up to $44k.

I kick myself weekly, it was $500 a coin when I started but you don’t know what you don’t know I guess

 

[A50#]

I used cashapp once, said fuck it for some reason and sent directly to somebody instead of through a wallet and they banned me. That was probably 4 years ago.
Been thinking of trying to set up another account

If u send it directly to someone straight through Cash app that's going to someones wallet correct? If u send it to yourself, that would also be going to a wallet? How does Cash App determine one from the other? Maybe I'm missing something or just over thinking??

 

[hevi-head]

If u send it directly to someone straight through Cash app that's going to someones wallet correct? If u send it to yourself, that would also be going to a wallet? How does Cash App determine one from the other? Maybe I'm missing something or just over thinking??

Yeah I thought that too. Unless they didn’t use a wallet? I guess I don’t know that that’s the exact reason but it was the only time that ever happened to me.
I thought I’ve read addresses could be flagged but I don’t know that to be fact I guess

 

[UnholyAlliance]

Yeah I thought that too. Unless they didn’t use a wallet? I guess I don’t know that that’s the exact reason but it was the only time that ever happened to me.
I thought I’ve read addresses could be flagged but I don’t know that to be fact I guess

Yes addresses can be flagged for suspicious activity and anyone that sends directly to such wallet might get banned/account locked. A good safe thing is to transfer to a wallet you control THEN transfer to a sponsor for paying for an order.

 

[hevi-head]

Yes addresses can be flagged for suspicious activity and anyone that sends directly to such wallet might get banned/account locked. A good safe thing is to transfer to a wallet you control THEN transfer to a sponsor for paying for an order.

Yeah I always did even before that first time using cash app but for some reason I had a case of the dumbass that day I guess.

 

[ILoveTrenny]

The fees on cashapp have gone up also

 

[Elvia1023]

I just logged onto my wallet and compared to when I checked last week and the fee's have gone up massively. I was sending nearly $500 and for a low-med speed/fee it was asking for $60-70. If I turn it up to the fastest speed it was $185. Some advice never put it too low. I tried that the other week figuring it would take 6-12 hours and it didn't go through. You will never lose your money but like mine was it will be returned but it can take up to 2-3 weeks. If it's low you might get lucky and it takes 6-48 hours but don't go too low. For $480 I set it at $35 and that's as low as I will probably go with the new fee's in place. In the past for that amount I could get away with $20 and it will ok speed but the fee's are much higher now.

 

[Black Beard]

Wtf has happened? Bough on coinbase today and went to send it my coinomi wallet. I always buy extra but it said “not enough funds to send”. Added more a couple times. Ended up costing close to $40 to send to coinomi then another $40 to send from coinomi. So $80 total for $260. I never paid much attention before (only been a couple months if that) but I know it was never near that high.

Fuck coinbase.


Use Cash APP and always use a separate wallet to send funds to your source. If your source gets flagged, your coinbase/cash app can permanently ban you from using them.

 

[A50#]

Fuck coinbase.


Use Cash APP and always use a separate wallet to send funds to your source. If your source gets flagged, your coinbase/cash app can permanently ban you from using them.

So the ban possibly comes from sending to a 'flagged' wallet? Now that makes sense.

 

[Black Beard]

So the ban possibly comes from sending to a 'flagged' wallet? Now that makes sense.

Yep, happened to me with coinbase. Warning others so they don't have the same problem, cause finding another BTC exchange was a pain in the ass. Thank God for Cash app.