High (implicit) txn fees reflect a combination of a marketing gimmick (rapid initial currency generation) and a poor cryptocurrency design choice (aka proof-of-work). A new cryptocurrency would need to be designed from scratch to change this. No one cares.
Topic: All The Fees - page 4. (Read 6947 times)
I think the fees are too high. I buy everything with cash, a debit card (fee is around 25 cents in the US I think), or a check.
How do you use cash online? I would stick it in the CD drive but most computers do not have them now.
Visa. No fees for me. May be for seller tho.
25cents is less than 0.05 btc. to lose the other 0.05 on transaction fees you have to make 50 transactions.
btw: who is fuck is going to secure 0.1btc with a multisig?
...0.1btc, seriously...
...maybe you just trade them back for the five wow-gold you bought them for and stick with a currency thats meant as a toy
ps2: sorry for venting. it just annoys me that of all the thing one could possibly criticize about bitcoin some people really come up with the usually-less-than-one-cent fee.
btw: who is fuck is going to secure 0.1btc with a multisig?
...0.1btc, seriously...
...maybe you just trade them back for the five wow-gold you bought them for and stick with a currency thats meant as a toy
ps2: sorry for venting. it just annoys me that of all the thing one could possibly criticize about bitcoin some people really come up with the usually-less-than-one-cent fee.
To clarify, if I mine say 0.1 BTC in a pool, I get fees.
If I send that to my bitcoin client, I might *not* get a fee, but, I probably will get charged a fee.
Now if I want to send that 0.1BTC out anywhere else, I have to pay another fee.
Eventually I no longer have 0.1 BTC
so once I get that very small amount amount into an exchange, I have lost quite a bit, and now I get charged fees every step of the way there also, I will get about 25 cents from the beginning total of 0.1.
This is what I mean by becoming disillusioned with the fees, everything takes fees even when it doesn't need them, and now after getting a pretty good idea of what p2sh is trying to do. We will be charged even more fees for the safety they already had built. That's what set me off about this, seeing how p2syh works made me look at everything else. It's the exact same kind of tyrannous infection sneaking in.
If I send that to my bitcoin client, I might *not* get a fee, but, I probably will get charged a fee.
Now if I want to send that 0.1BTC out anywhere else, I have to pay another fee.
Eventually I no longer have 0.1 BTC
so once I get that very small amount amount into an exchange, I have lost quite a bit, and now I get charged fees every step of the way there also, I will get about 25 cents from the beginning total of 0.1.
This is what I mean by becoming disillusioned with the fees, everything takes fees even when it doesn't need them, and now after getting a pretty good idea of what p2sh is trying to do. We will be charged even more fees for the safety they already had built. That's what set me off about this, seeing how p2syh works made me look at everything else. It's the exact same kind of tyrannous infection sneaking in.
0.1 BTC is ~$0.50. Show me where you can spend/transfer $0.50 online without a fee.
How about don't transfer 0.1BTC. Transfer 1 BTC and it will be free. Alternatively wait a few hours and the 0.1 is free too.
I think the fees are too high. I buy everything with cash, a debit card (fee is around 25 cents in the US I think), or a check.
How do you use cash online? I would stick it in the CD drive but most computers do not have them now.
I scan it, and then email the image.
To clarify, if I mine say 0.1 BTC in a pool, I get fees.
If I send that to my bitcoin client, I might *not* get a fee, but, I probably will get charged a fee.
Now if I want to send that 0.1BTC out anywhere else, I have to pay another fee.
Eventually I no longer have 0.1 BTC
so once I get that very small amount amount into an exchange, I have lost quite a bit, and now I get charged fees every step of the way there also, I will get about 25 cents from the beginning total of 0.1.
This is what I mean by becoming disillusioned with the fees, everything takes fees even when it doesn't need them, and now after getting a pretty good idea of what p2sh is trying to do. We will be charged even more fees for the safety they already had built. That's what set me off about this, seeing how p2syh works made me look at everything else. It's the exact same kind of tyrannous infection sneaking in.
If I send that to my bitcoin client, I might *not* get a fee, but, I probably will get charged a fee.
Now if I want to send that 0.1BTC out anywhere else, I have to pay another fee.
Eventually I no longer have 0.1 BTC
so once I get that very small amount amount into an exchange, I have lost quite a bit, and now I get charged fees every step of the way there also, I will get about 25 cents from the beginning total of 0.1.
This is what I mean by becoming disillusioned with the fees, everything takes fees even when it doesn't need them, and now after getting a pretty good idea of what p2sh is trying to do. We will be charged even more fees for the safety they already had built. That's what set me off about this, seeing how p2syh works made me look at everything else. It's the exact same kind of tyrannous infection sneaking in.
I think the fees are too high. I buy everything with cash, a debit card (fee is around 25 cents in the US I think), or a check.
How do you use cash online? I would stick it in the CD drive but most computers do not have them now.
I think the fees are too high. I buy everything with cash, a debit card (fee is around 25 cents in the US I think), or a check.
The reason why I love bitcoin is the lack of fees! I now do most of my transactions fee-less. I am buying and selling directly with others and have far less in the way of BTC-USD need. When it happens it is 25 cents Dwolla and .5 % exchange fees, which is pretty low when you do $300 worth.
Yup. I only need to pull value back into fiat to pay the power bill so I make a few large transactions each month via Dwolla. Fewer larger transactions gives me a fee % of 0.1% + 0.5% and that is just on the portion that I convert to fiat. The funds I don't have even lower fee rate.
The reason why I love bitcoin is the lack of fees! I now do most of my transactions fee-less. I am buying and selling directly with others and have far less in the way of BTC-USD need. When it happens it is 25 cents Dwolla and .5 % exchange fees, which is pretty low when you do $300 worth.
His example is $1K, not $1M.
Can I get Lasik for bitcoins somewhere?
Speculators have their role, but in any health currency they should constitute only about 5% (number pulled from...) of the transactions.
Forex trades globally are $3.21 trillion (yes with a T) a day. That is over a quadrillion USD annually. Compare that to world GDP is ~$60 trillion.
Maybe you got the 95%/5% mixed up. The reverse is closer to reality. 95% of all economic activity is speculation. 5% is actual commerce.
His example is $1K, not $1M.
Can I get Lasik for bitcoins somewhere?
His example is $1K, not $1M.
Fees for convenience?
Bank->Dwolla = free
Dwolla->MtGox = $.25
MtGox->BTC = typically .5% to .6% for majority of users, I imagine
$1,000.00 Transfer
Total exchange fees for Bank(USD)->BTC = .6% + $.25 = $6.25
Fee for transaction in the same currency using Paypal? 2.9% + $.30 = $29.30
Bank->Dwolla = free
Dwolla->MtGox = $.25
MtGox->BTC = typically .5% to .6% for majority of users, I imagine
$1,000.00 Transfer
Total exchange fees for Bank(USD)->BTC = .6% + $.25 = $6.25
Fee for transaction in the same currency using Paypal? 2.9% + $.30 = $29.30
$1M is kind of a bad example. With Bitcoin you'll move the market against you, with PP you have some solid chance of getting it frozen or taken.
For $100-$10k Bitcoin kicks ass even if you have to come in from the outside. If you've already got coin it's great from a few cents up. Everyone should have a little bitcoin revenue stream imo.
Fees for convenience?
Bank->Dwolla = free
Dwolla->MtGox = $.25
MtGox->BTC = typically .5% to .6% for majority of users, I imagine
$1,000.00 Transfer
Total exchange fees for Bank(USD)->BTC = .6% + $.25 = $6.25
Fee for transaction in the same currency using Paypal? 2.9% + $.30 = $29.30
Bank->Dwolla = free
Dwolla->MtGox = $.25
MtGox->BTC = typically .5% to .6% for majority of users, I imagine
$1,000.00 Transfer
Total exchange fees for Bank(USD)->BTC = .6% + $.25 = $6.25
Fee for transaction in the same currency using Paypal? 2.9% + $.30 = $29.30
with a 0.1% fee,
Where did you get that from?
If Bitcoinica is actually setting up an exchange like Zhoutong considered somewhere here with a 0.1% fee, mtgox is forced to lower their fees and this will be great for Bitcoin.
Earn coins, spend coins, win?
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