Coinbase network fee for transfer to blockchain. 20%??!!?

**jtoler** · 12-13-17, 12:20 PM

Why do you need to transfer to blockchain, no need. Or better yet, why are you using coinbase.

**The Hat** · 12-13-17, 12:41 PM

sending to friend's blockchain wallet. I started with Coinbase earlier this year; no problems up until today's surprise.

**The Hat** · 12-13-17, 12:42 PM

I assume maybe it's 'fee gouging' due to the influx of recent trading (?)

**Optional** · 12-13-17, 01:03 PM

Originally posted by The Hat

I assume maybe it's 'fee gouging' due to the influx of recent trading (?)

Kind of. The current "optimum" miner fee is about $13

And needs about $8 minimum to be sure it will get there.

**The Hat** · 12-13-17, 01:18 PM

Originally posted by Optional

Kind of. The current "optimum" miner fee is about $13

And needs about $8 minimum to be sure it will get there.

ok thanks

**TheMoneyShot** · 12-13-17, 01:20 PM

It's times like these.... why aren't people using Gemini???

Gemini will pay up to 30 transactions a month... FREE OF CHARGE for you.

I'd milk them until they tell me... NO MORE.

**FullStrength** · 12-19-17, 06:14 PM

Crazy right? That's for all the mining pools and workers. Although that is the standard fee regardless the btc send amount.

**pattymayo** · 12-21-17, 11:36 AM

$36 fee on blockchain right now, good grief... will this go down at any point?

**Optional** · 12-21-17, 11:57 AM

Originally posted by pattymayo

$36 fee on blockchain right now, good grief... will this go down at any point?

Only when people stop using it or stop increasing the fees they offer to get ahead of the queue.

But it appears the CoreBitcoin group want it this way, so probably wont be going down much again.

Hopefully exchanges make a move to actively support an alternative coin that wants to be low fee and fast as the #1 prioity.

Bitcoin no longer deserves any of our money transfer business.

**pattymayo** · 12-21-17, 12:08 PM

I hadn’t had any btc for a few months, decided to buy some not realizing the fees has skyrocketed.

Bought $100 in atm, $9 fee, fine. Went to send to book, $20 fee. So $100 got me $71 to play with.

Sent some from book to blockchain last night, wanted to send some back to book today and am seeing a regular $36 fee. If this continues, what’s the point?

The speed of moving btc around from book to wallet and the super low fees were what made btc a dream.. now what?

**Optional** · 12-21-17, 12:36 PM

Originally posted by pattymayo

I hadn’t had any btc for a few months, decided to buy some not realizing the fees has skyrocketed.

Bought $100 in atm, $9 fee, fine. Went to send to book, $20 fee. So $100 got me $71 to play with.

Sent some from book to blockchain last night, wanted to send some back to book today and am seeing a regular $36 fee. If this continues, what’s the point?

The speed of moving btc around from book to wallet and the super low fees were what made btc a dream.. now what?

100% agree.

Just not usable for retail size transactions anymore.

Very disappointing.

**littlekona** · 12-21-17, 12:45 PM

Originally posted by pattymayo

I hadn’t had any btc for a few months, decided to buy some not realizing the fees has skyrocketed.

Bought $100 in atm, $9 fee, fine. Went to send to book, $20 fee. So $100 got me $71 to play with.

Sent some from book to blockchain last night, wanted to send some back to book today and am seeing a regular $36 fee. If this continues, what’s the point?

The speed of moving btc around from book to wallet and the super low fees were what made btc a dream.. now what?

Actually the ATM way is best option right now in many cases esp small amounts...My local ATM I have a negotiated rate of 6.5% fee they do not charge any miners fees to send...What I do is send direct to the book via ATM.. Like this AM i sent 40$ to heritage and it and $37.60 was credited to my Heritage account...They sent it with 500+ sat so they are losing on this one. I do this with many small deposits now that the miners fees are so high...heritage, Nitro, fairlay I send direct from ATM w no middle and its been saving me a ton plus reasonable conform times...BUT be careful as some ATM companies are charging miners fees

**Optional** · 12-21-17, 01:11 PM

Originally posted by littlekona

Actually the ATM way is best option right now in many cases esp small amounts...My local ATM I have a negotiated rate of 6.5% fee they do not charge any miners fees to send...What I do is send direct to the book via ATM.. Like this AM i sent 40$ to heritage and it and $37.60 was credited to my Heritage account...They sent it with 500+ sat so they are losing on this one. I do this with many small deposits now that the miners fees are so high...heritage, Nitro, fairlay I send direct from ATM w no middle and its been saving me a ton plus reasonable conform times...BUT be careful as some ATM companies are charging miners fees

What's the network name that does this Kona?

Can't imagine they will be able to eat $30 fees for too long ongoing though

**patswin** · 12-21-17, 01:41 PM

agree with the fees getting out of control. Just cost me $38 to send $200 to heritage.
are all of the coins like that or do some have lower fees like litecoin?

**Optional** · 12-21-17, 01:45 PM

Originally posted by patswin

agree with the fees getting out of control. Just cost me $38 to send $200 to heritage.
are all of the coins like that or do some have lower fees like litecoin?

Many alt coins cost under 1 cent to send and do it reliably within minutes.

Just need an easy and direct way for bettors AND books and their payment processors to buy/sell/manage risk the way it can be done with Bitcoin now.

BitcoinCash or Litecoin appear to be best placed to provide this first to me.

**GoldRush7** · 12-21-17, 01:49 PM

Has anyone deposited to Heritage via LTC? I went to go on their site and saw this message:

Note: an applicable fee of 0.0025 BTC is charged by our provider for all AltCoin transactions.

Does that mean you have to pay the equivalent of 0.0025 fee for each altcoin transaction? If so, absurd. How is it even possible to move coins in and out of books now? Back to P2P days?

**Optional** · 12-21-17, 02:16 PM

Originally posted by GoldRush7

Has anyone deposited to Heritage via LTC? I went to go on their site and saw this message:

Note: an applicable fee of 0.0025 BTC is charged by our provider for all AltCoin transactions.

Does that mean you have to pay the equivalent of 0.0025 fee for each altcoin transaction? If so, absurd. How is it even possible to move coins in and out of books now? Back to P2P days?

Yes. The processor they use reportedly converts everything to bitcoin before crediting them.

Agree that it defeats the purpose of using an alt coin.

And is why we need another coin to develop the infrastructure so bitcoin is not in the equation at all.

**TheDempster** · 12-21-17, 03:21 PM

Originally posted by Optional

Many alt coins cost under 1 cent to send and do it reliably within minutes.

Just need an easy and direct way for bettors AND books and their payment processors to buy/sell/manage risk the way it can be done with Bitcoin now.

BitcoinCash or Litecoin appear to be best placed to provide this first to me.

Hopefully something changes soon for small/multiple transactions with BTC....or the Exuberance of a few months ago will be GONE

**GoldRush7** · 12-21-17, 04:19 PM

Originally posted by Optional

Yes. The processor they use reportedly converts everything to bitcoin before crediting them.

Agree that it defeats the purpose of using an alt coin.

And is why we need another coin to develop the infrastructure so bitcoin is not in the equation at all.

Wow - that just blows my mind. It blows my mind even more that people would be willing to pay the ~$40ish dollars it costs to use that as a method.

**Eric22174** · 12-21-17, 06:27 PM

If you go from Coinbase to GDAX, GDAX to Block chain and Block Chain to Book it's not that much correct?

**GoldRush7** · 12-21-17, 06:31 PM

Originally posted by Eric22174

If you go from Coinbase to GDAX, GDAX to Block chain and Block Chain to Book it's not that much correct?

I have a feeling it would be even more. Each time you send a transaction you're paying the miner fees. And the miner fees are insane right now.

**Eric22174** · 12-21-17, 07:15 PM

Usually GDAX to blockchain is free. HOWEVER these ass hats gave me a duplicate address that's already been used. I guess my money is lost. Go figure

**Jnas** · 12-21-17, 07:42 PM

has anyone sent bitcoin cash or litecoin recently ? I was curious what the fees are on those to send $200 or so.

**Waterstpub87** · 12-21-17, 08:20 PM

How is the fee and time on ether? I have to do a cashout and deposit before January 1st. Was waiting for bitcoin to be less crazy, but it doesn't seem to be slowing down

**themike78** · 12-21-17, 08:37 PM

There really is no reason to use bitcoin with books anymore. It is cheaper and probably quicker to use a wire. Im still waiting on a deposit to confirm from 5 days ago. Very frustrating. There are much cheaper ways to get money to a book than this.

**mrpapageorgio** · 12-21-17, 11:06 PM

Originally posted by Waterstpub87

How is the fee and time on ether? I have to do a cashout and deposit before January 1st. Was waiting for bitcoin to be less crazy, but it doesn't seem to be slowing down

Last I checked on Blockchain the fee was 36 cents and when I've sent Ether it's usually under 20 minutes once sent to get the sufficient number of confirmations.

Originally posted by themike78

There really is no reason to use bitcoin with books anymore. It is cheaper and probably quicker to use a wire. Im still waiting on a deposit to confirm from 5 days ago. Very frustrating. There are much cheaper ways to get money to a book than this.

Litecoin, ETH, and Bitcoin Cash are much cheaper/faster than regular Bitcoin if your book gives the option to deposit using them.

**Optional** · 12-21-17, 11:19 PM

Originally posted by Jnas

has anyone sent bitcoin cash or litecoin recently ? I was curious what the fees are on those to send $200 or so.

BitcoinCash just over 1 cent and under 10 mins.

**snider** · 12-22-17, 12:43 AM

Well bitcoin is toast. Invest in bitcoin cash then. This industry has to be huge in the success of bitcoin.

**Jnas** · 12-22-17, 04:17 AM

Originally posted by Optional

BitcoinCash just over 1 cent and under 10 mins.

thanks I had no idea it was that cheap.

**Waterstpub87** · 12-22-17, 01:28 PM

Originally posted by mrpapageorgio

Last I checked on Blockchain the fee was 36 cents and when I've sent Ether it's usually under 20 minutes once sent to get the sufficient number of confirmations.

Litecoin, ETH, and Bitcoin Cash are much cheaper/faster than regular Bitcoin if your book gives the option to deposit using them.

Ether kicks ass, .31$ fee, confirmed in 2 minutes

**snider** · 12-23-17, 09:57 AM

Which books take them?

**Razorbacks1** · 12-23-17, 10:22 AM

Originally posted by Jnas

has anyone sent bitcoin cash or litecoin recently ? I was curious what the fees are on those to send $200 or so.

I've been using bitcoin for a long time. Decided today to try litecoin. I'm not a big player, so went to CB and bought $120 in litecoin. After CB fee I had $115.01. Transferred this to my loafwallet ( I use breadwalllet for bitcoin ) and ended up with $108. IMO still a little high for fees, but a lot cheaper than the bitcoin route. So CB to loaf to Bookmaker to about 15 minutes total.

**Razorbacks1** · 12-23-17, 10:23 AM

Originally posted by snider

Which books take them?

Bookmaker and Betonline both take Litecoin for sure. Use them both.

**Optional** · 12-23-17, 10:44 AM

Originally posted by Razorbacks1

I've been using bitcoin for a long time. Decided today to try litecoin. I'm not a big player, so went to CB and bought $120 in litecoin. After CB fee I had $115.01. Transferred this to my loafwallet ( I use breadwalllet for bitcoin ) and ended up with $108. IMO still a little high for fees, but a lot cheaper than the bitcoin route. So CB to loaf to Bookmaker to about 15 minutes total.

Litecoin had a $7 miners fee? I thought it was just cents.

Man, that means Litecoin is useless for micro transactions too. :\