Ok, since I'm the OP I'm gonna drop another example of some bullshit. I use mellowads as one of my banner ad providers for some of my sites. I typically wait until my balance reaches .01 BTC (currently $17.57) before I withdraw my balance. So, I had .0105 and some odd change in my account and went to withdraw. I paid a fee to mellowads of 0.00005 BTC ($0.09). I have absolutely no problem with that. So I ended up sending 0.01041323 BTC ($18.30) to my CoinBase wallet and ended up receiving 0.009375 BTC ($16.47) which means I paid an additional $1.83 on top of my mellow ads fees somewhere along the way. Not only does neither system tell me about these fees explicitly so I know beforehand exactly how much I am going to have to pay, but that is a 10% fee and I don't even know who took it or where it went. Seriously, if people keep saying this isn't a big deal, then you are an idiot. I'm not usually one to call names, but 90% of the people chiming in on this discussion are saying the exact same thing....make large transactions only, it's not a big deal if you are buying a goddamn house, just don't expect to buy a cup of coffee with bitcoin. Oh, you are so insightful, thanks for explaining the difference between paying high fees for small transaction and low fees for higher transaction....I wasn't at all aware of that. The thing is, if you are one of those people that think this is ok, you are missing the fact that most people actually using bitcoin for purposes other than hoarding digital gold are being screwed. The people who are literally creating the bitcoin economy are the ones getting robbed. Keep telling yourself it's all ok, and we should all just be making large transactions and see where that gets us in a year when nobody can come to an agreement on how to resolve this problem and people stop fucking using it. At some point, investors and developers are going to start looking to other coins that don't have this problem. And then what do you think happens? You think Bitcoin is invincible? Well it's not. If this elephant in the room simply doesn't ever get addressed, you hoarders are going to be sorry you didn't care and the next big party is going to fly right by you while you're blinded by your shiny digital gold.
Ok rant over....
Topic: $0.85 transaction fee is absolutely ridiculous! - page 20. (Read 24225 times)
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What the actual fuck. There are so many ads on this page it's hard to focus on the topic. I think it's something about high transactions fees or possible duck mating calls.
To the guy above me: Bitcoin is nowhere near the cheapest or quickest transfer method around.
What the actual fuck. There are so many ads on this page it's hard to focus on the topic. I think it's something about high transactions fees or possible duck mating calls.
To the guy above me: Bitcoin is nowhere near the cheapest or quickest transfer method around.
Hahaha, no shit. I lost track of what the original topic was to. Oh yeah high transaction fees.
Cue in more sig spammers.
So in the future when bitcoin is worth a lot more, will the transaction fees drop? I feel like once we run out of bitcoins to mine, there will be higher transaction fees.
This thread brought to you by NITROGENSPORTS. It's the future of betting.
What the actual fuck. There are so many ads on this page it's hard to focus on the topic. I think it's something about high transactions fees or possible duck mating calls.
To the guy above me: Bitcoin is nowhere near the cheapest or quickest transfer method around.
What the actual fuck. There are so many ads on this page it's hard to focus on the topic. I think it's something about high transactions fees or possible duck mating calls.
To the guy above me: Bitcoin is nowhere near the cheapest or quickest transfer method around.
Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..
yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.
Agreed that it is creating frustration among the bitcoin users as they have to pay more than a dollar fee these days but then no one is looking to leave the bitcoins because of the said reason. If you can compare bitcoins with other payment methods, you will find bitcoin is still the cheapest and the quickest method of money transfer that exist now.
I think is ok because the value of bitcoin increase huge.When the value will go down,you will found a lower fee.
I think so too. With 1 Bitcoin being worth 1.5k USD, paying less than $1 to send a transaction is nothing but normal. If you were here back when it was worth less than 1000 usd with a fee of around $0.5 you'd have noticed that fees are growing along with Bitcoin. Sad part is we can expect $2 fees when we start getting close to 3000 per Bitcoin, but that's nothing the users cannot handle. I think everybody realizes the problem will get handled so while it is an inconvenience now in the big picture its juts a bump on the road.
If the problem has to be taken care of,either the amount of transaction will be reduced which is not a possibility or either they have to upgrade the network which is not that easy as it sounds as everyone is favoring one thing over the other and so it is difficult to see the upgrade taking place anytime soon and it is getting worse by day as the transaction fees is increasing every day. Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..
yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.
I think everybody realizes the problem will get handled so while it is an inconvenience now in the big picture its juts a bump on the road.
Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..
yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.
I guess it is ridiculous if you are sending dust. But if you are sending thousand of dollars, an 85 cents fee is way too cheap. Aside from that, the era where you can buy coffee with Bitcoin is over, due to price of Bitcoin had increased so much. Bitcoin still delivers what it promised but this time not on dust transactions.
I think is ok because the value of bitcoin increase huge.When the value will go down,you will found a lower fee.
I use xapo to cash put my bitcoins, and I notice if you send small amounts to your wallet and then you want to cash out them you will pay a big fee bcs of that. So I send all my money in one address and my fee is much less than before. I hope my experience will help you 
Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..
yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.
May be. If they create a more advanced currency with a low payment for the deal, then bitcoin may completely disappear.
Bitcoin transactions are instant. It's the confirmation or inclusion in a block that takes time. Once you see a transaction paid to you (or to anyone else), and nothing fishy comes up after 5 to 10 seconds, as long as proper tx fees are paid, you're almost sure of it.
If you receive Bitcoins from a source you don't trust, the statement above is not enough. A transaction with proper fee (but still a bit under the minimum required for near-instant confirmation at that moment) can easily take hours or days to confirm.By "proper tx fees" I meant the number you can see from a site like https://bitcoinfees.21.co/ or a little bit more. (Or if you are using Electrum or Bitcoin Core, click the slider all the way to the right, or max.)
Even if there is an attempt at a double spend, it might not push through if the transaction has been in the mempool of 90% of the network for longer than 10 seconds. Not to mention that the double spend would have to include a bigger tx fee than the first to increase the chance that that second tx will get accepted into a block, unless you own the miner or pool that mines the next block.
I think this is not too ridiculous considering bitcoin is in its all time high value at this moment and continue to rise day by day, you can customize the fees in some desktop wallet like mycelium if you want but expect it may take time to confirm from 1-4 days..
Really?
So you're ready to pay 5$ in fees when you buy a vpn subscription for 8$?
Let's say bitcoin reaches 1 million and every transaction cost 500$.
Are you still going to use bitcoin? I doubt it.
It would probably make more sense to pay for your VPN subscription annually, so you get a discount in both the price and the transaction fee.
If bitcoin reaches 1 million USD, I'm going to buy a yacht. (or a lambo.)
Lamborghini better ramp up production quick. It seems like that's the main thing everyone is going to buy when they finally stop hoarding and sell their bitcoins. LOL
The reality is that Goat is probably the only person that will ever buy a Lamborghini with Bitcoin.
Bitcoin transactions are instant. It's the confirmation or inclusion in a block that takes time. Once you see a transaction paid to you (or to anyone else), and nothing fishy comes up after 5 to 10 seconds, as long as proper tx fees are paid, you're almost sure of it.
If you receive Bitcoins from a source you don't trust, the statement above is not enough. A transaction with proper fee (but still a bit under the minimum required for near-instant confirmation at that moment) can easily take hours or days to confirm. That gives more than enough time to double spend it (by sending the same Bitcoins with a higher fee to another address).If you trust the source it's not really a problem, unless you need the Bitcoins urgently. But the whole point about Bitcoin is being able to make trustless transactions.
Remember Satoshi recommends to wait for 6 confirmations before accepting a transaction as being confirmed.
Yep i find it rediculous too, i don't think this way new people to crypto will start using btc anymore..
yes it is. Many of users right now are getting mad because of that high fee. Maybe can result in to the lose of people who are using bitcoin.
Bitcoin transactions are instant. It's the confirmation or inclusion in a block that takes time. Once you see a transaction paid to you (or to anyone else), and nothing fishy comes up after 5 to 10 seconds, as long as proper tx fees are paid, you're almost sure of it.
Again, for coffee, it's a big deal. For everything else where you could probably pay by check, money order, bank draft, or bank wires, bitcoin is still way way better.
Again, for coffee, it's a big deal. For everything else where you could probably pay by check, money order, bank draft, or bank wires, bitcoin is still way way better.
$0.85 is not much when you are moving big amounts, for 1-20 dollars transaction its a bit to much to pay just for fee. I don't have problems with paying miners fee, my transactions ate usually 30-50 dollars and sometimes more, I gamble a lot so one spin or one bet more or less is not making a big difference. This is a problem just for people who claim faucets, other PTC sites, or some micro earning, they lose a lot of time to make some little profit, and giving that profit on fee is unacceptable for them, I get that.
This is why people call Bitcoin "digital gold". $0.85 is pretty cheap for transferring something like $1000, especially if you are sending money to other country or even continent. Bitcoin is also good for storing value - altcoins in general are more volatile. Bitcoin is a decent payment method for big transactions overseas, but horrible for small payments, because it's so slow and fees are high.
This makes no sense one week ago 100k as fee would let your transaction to be confirmerd very fast, now its stucked in the blockchain, bitcoin is loosing those advantages it had in the begining, better trade with other coins with lower fees, its ridiculous fees at the moment.
Yeah, I hope that there will be someone who will do something for this problem. It is kinda a mess and I do not want people feel bad about Bitcoin. Bitcoin has a bright future but right now it is stuck here and can not get out Jump to: