Bitcoin just for the rich now ?

in bitcoin •  7 years ago 

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I'm guessing bitcoin not good for small transactions.
I have a small contract with hashflare. I logged in and thought i'll withdraw about $7-$8 worth of bitcoin and this is the message i get. ridiculous for this transaction its almost 50% fee.

Dear users,
BTC network congestion is becoming worse with almost 200 000 transactions awaiting confirmation. The miners prioritize transactions with the highest fees and, as a result, transactions with low fees are stuck for up to a few days. Today’s (17.05.2017) average Bitcoin transaction fee nears 2.50 USD. It is still unclear what is causing the congestion.

More information: http://www.newsbtc.com/ http://www.newsbtc.com/2017/05/12/bitcoin-network-backlog-grows-165000-unconfirmed-transactions/

As a temporary solution, we are raising the withdrawal fees for BTC withdrawals to 0.0014 to cover the recommended network fees in order to ensure safe and fast transactions. The withdrawal fee will be updated upon future changes to the network average.

We strongly recommend you to consider postponing BTC withdrawals or purchases via BTC until the congestion clears.

We kindly ask you to refrain from raising support tickets as we will not be able to provide any comments on this issue because it is out of HashFlare's control.

can ANYBODY do anything about this or it is what it is ?

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wow that is going to make things a bit more difficult. I think that you just need to wait it out. It sounds like they are charging more temporarily while they catch up on the transactions that are already in transit. Hopefully you can access your funds.

my funds are only small money not going to make me or brake me ... but the whole idea of crypto is about being accessible by everyone regardless of wealth etc ..

Well that needs sorting sharpish or those BTC>cash machines are going to end up as campsites!

Fee raised?

Lol.

Jokes on them.

I don't own any bitcoin.