Topic: 0.0001 btc transfer fee is big in usd. (Read 655 times)
This fee have to be lowered, with small amounts its ridiculous big.
When the protocol was created nobody envisioned that one bitcoin could go to $1000.
That's not true at all. Many, if not most, of the early movers around here expected to see a $1000 bitcoin eventually. I don't know if anyone expected to see $1000 per BTC before the second block reward halving, however. I certainly didn't.
Most of these "analysts' expect bitcoin to reach $100,000 BTC one day, which is totally possible. By then mBTCs will be the main trading currencies, perhaps uBTC lol. Anyways, by then, think about how small the fees will be. Also, if yuo are sending bitcoins to others, use shared send or send without a fee, if you really have to.
When the protocol was created nobody envisioned that one bitcoin could go to $1000.
That's not true at all. Many, if not most, of the early movers around here expected to see a $1000 bitcoin eventually. I don't know if anyone expected to see $1000 per BTC before the second block reward halving, however. I certainly didn't.
I believe value of current 0.0001 btc is cost about 10 cent usd today. This would be huge if many small transfer are made or business that have small margin. 
Yes, but Bitcoin wasn't designed to be a micropayment system, per se. That may or may not (more likely not) occur using less common transaction types, such as using a single send-to-many transaction for weekly payroll or a household's monthly bills.
That said, the minimum transaction fee has been repeatedly reduced as the value of a bitcoin has increased. I expect that the transaction fee will drop back down to around a cent or less with the next client code update.
Yes many online wallets have a similar fee, it is a pretty substantial amount to use as a fee. That is actually one of these reasons faucets do not pay instantly anymore.
When the protocol was created nobody envisioned that one bitcoin could go to $1000. Nowadays the fee became really large and will lead to problems if bitcoin alternatives, like eMunie, do come out next year, unless the protocol is updated to handle more transactions/sec, and at a smaller fee than 0.0001.
I believe value of current 0.0001 btc is cost about 10 cent usd today. This would be huge if many small transfer are made or business that have small margin.
Dont worry, the fees will be updated when the times come. I saw going from 0.01 to 0.0005 and about half year ago to 0.0001. Give it time
Just thought about the same. I think it's soon time to lower the fees.
Yes many online wallets have a similar fee, it is a pretty substantial amount to use as a fee. That is actually one of these reasons faucets do not pay instantly anymore.
I believe value of current 0.0001 btc is cost about 10 cent usd today. This would be huge if many small transfer are made or business that have small margin.
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