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Topic: Are you using low fees? - page 4. (Read 13454 times)

hero member
Activity: 850
Merit: 504
June 18, 2017, 06:39:52 PM
When I am withdrawing from exchanges,  I have nothing to do Smiley they charges higher fees. But when I am the one sending, I am using medium to Higher fees because I want it fast,also the other party are waiting.Its fine for me,adding that when you are in a hurry, it saves time.
sr. member
Activity: 490
Merit: 250
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June 18, 2017, 06:39:12 PM
Yes i am using low fees, It take my transaction days to be completed completely, For me it is ok because i only need 1 confirmation to get my deposit when i am depositing to other site so no need for my transaction to be 100% completed and it save me so much transaction fee by using low fees.

Well, for people that want fast confirmation always use a standard fee for their transaction, up to 0.0005-0.001. With that fee you can get cofirmation 30minutes-1hour depend on the fee. For me, i always use 0.0003-0.0005 fee and i use txid accelerator for make it faster.
hero member
Activity: 1134
Merit: 502
June 18, 2017, 06:35:13 PM
Yes i am using low fees, It take my transaction days to be completed completely, For me it is ok because i only need 1 confirmation to get my deposit when i am depositing to other site so no need for my transaction to be 100% completed and it save me so much transaction fee by using low fees.
legendary
Activity: 1288
Merit: 1087
June 18, 2017, 06:12:13 PM
i wonder now that some type of scaling looks like it's gonna arrive, whether the 'fee pressure' will mysteriously disappear. let's see what it does between now and august. i think we might be in for not much of a surprise.
hero member
Activity: 1022
Merit: 538
June 18, 2017, 06:09:16 PM
I use low fees if I'm just putting away some bitcoins into cold storage or transferring to other wallets. By low I mean 100-200 Satoshis/byte, never under 100. They usually confirm within 24h so I suppose I could go lower if I wanted to but waiting weeks seems silly.
bitcoin is a kind of currency in which people are getting a lot of benefit althrough if they are earning money through online business or either they are investing in it bitcoin is giving profit to all of us i'm very sure that it depend and how fast a user want the money by bitcoin because spending a more than a couple or year income just so another user can get they are not doing it smartly a lot of people are here who are using transition with low fees and mostly with no fees with no fees transaction would take half a day to get completed being in hury is never been a good and smart option.
hero member
Activity: 2660
Merit: 551
June 18, 2017, 01:58:17 PM
Not anymore because then all my transactions would probably get stuck. Now I use wallets with dynamic fees policy. But there are also no low fees anymore, even those labeled as normal or low are very high. But this is the new Bitcoin reality, if you want it use it efficiently and be sure that you would get or send the coins, you have to pay the price.

Correct, we are the one adjusting and paying the price of using bitcoin now. But whatever angle you look at it, this will have a negative impact to the bitcoin ecosystem. Maybe some are moving to alt coins because of this. We don't know. That is why I'm just storing my bitcoin and not doing any transactions for now to avoid paying the high tx fees.
legendary
Activity: 2912
Merit: 1068
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June 18, 2017, 01:11:07 PM
Not anymore because then all my transactions would probably get stuck. Now I use wallets with dynamic fees policy. But there are also no low fees anymore, even those labeled as normal or low are very high. But this is the new Bitcoin reality, if you want it use it efficiently and be sure that you would get or send the coins, you have to pay the price.
legendary
Activity: 3024
Merit: 2148
June 18, 2017, 01:04:05 PM
When i was a new to cryptocurrency i always set the fee to normal because usually i really want to received my profit as soon as possible but even tho it's a normal fee the fee transaction is still expensive and we all know that. I think the transaction fees will bring down bitcoins i hope in the next year or months they will solved the problem about transaction fees before some altcoins will pop out and beat the value of bitcoins because of the expensive transaction fee

You are right, normal fees are not normal, they are ridiculously high, and even my "cheap" fees like 40-60 sat/byte are very expensive, because if you are paying 0.0005 BTC for 0.01 BTC transaction, that's a 5% fees - something that rarely happens even with fiat transactions. I have a feeling that miners are just preying on people's fear of uncertainty, people are afraid that their transaction will get stuck forever and lost, so they want it to get confirmed asap, which makes them to push fees higher and higher. I won't be surprised if we find out that miners are behind spam attacks and that they are doing everything they can to keep fees as high as possible.
sr. member
Activity: 518
Merit: 250
June 18, 2017, 10:55:34 AM
for this I use the low cost 0.1 mbtc because I don't need to wait for a long time just 3 hours after the transaction starts immediately sent in my wallet so that it does not require long and expensive time. I hope there is a cost free when we deal with this unlikely but bitcoin happen ...
legendary
Activity: 2912
Merit: 6403
Blackjack.fun
June 18, 2017, 09:34:25 AM
Yesterday i send 0.18 btc with 10 satoshi per kbyte.. Later accelerated it in vicabtc. Fortunately evertyhing is ok and transcation got confirmed.

Thats actually quite amazing, I thought viabtc had higher minimum requirements. Generally I just pay the correct fee and get it done as fast as possible.

ViaBTC requires people to include a minimum of 10,000 satoshis per KB before they pick up transactions to accelerate. Easy calculation -- 1 KB = 1000 bytes = 10 satoshi per byte. From there he included the very minimum in fees in order to make use ViaBTC's acceleration service -- that's what I consider to be a real penny pincher.

Why are doing so much math just to arrive at the wrong conclusion?
He already said he paid "10 satoshi per kbyte". Via btc requires x1k times that.

So I really doubt he has sent that transactions with the viabtc accelerator.

sr. member
Activity: 1190
Merit: 251
June 17, 2017, 01:11:16 PM
In certain urgent circumstances, I prefer high tx fee. For faster transactions to be confirmed. Less than 1 hour usually bitcoin has arrived to my wallet.
sr. member
Activity: 434
Merit: 250
June 17, 2017, 11:36:07 AM
I use low fees if I'm just putting away some bitcoins into cold storage or transferring to other wallets. By low I mean 100-200 Satoshis/byte, never under 100. They usually confirm within 24h so I suppose I could go lower if I wanted to but waiting weeks seems silly.
I think low fees it too good, when we talk about someone who doesn't care about the speed of confirmations of his transactions, Like me. but in my case, I am obligated to use a high fees, because xapo set a regular fees which they controled by xapo not by me. Furthermore, these fees are too high.
newbie
Activity: 46
Merit: 0
June 17, 2017, 10:18:05 AM
I use low fees if I'm just putting away some bitcoins into cold storage or transferring to other wallets. By low I mean 100-200 Satoshis/byte, never under 100. They usually confirm within 24h so I suppose I could go lower if I wanted to but waiting weeks seems silly.
full member
Activity: 294
Merit: 100
June 17, 2017, 10:09:09 AM
Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?
yeah If you don't need to use your Bitcoin so soon, it's a good way to spend your Bitcoin but when you need your transactions to be confirmed fast, like selling Bitcoin or trading, you need to pay a bigger fee so that your transaction can be confirmed faster
legendary
Activity: 1232
Merit: 1091
June 16, 2017, 06:50:03 PM
Yesterday i send 0.18 btc with 10 satoshi per kbyte.. Later accelerated it in vicabtc. Fortunately evertyhing is ok and transcation got confirmed.

Thats actually quite amazing, I thought viabtc had higher minimum requirements. Generally I just pay the correct fee and get it done as fast as possible.

ViaBTC requires people to include a minimum of 10,000 satoshis per KB before they pick up transactions to accelerate. Easy calculation -- 1 KB = 1000 bytes = 10 satoshi per byte. From there he included the very minimum in fees in order to make use ViaBTC's acceleration service -- that's what I consider to be a real penny pincher.
sr. member
Activity: 560
Merit: 250
June 16, 2017, 06:48:03 PM
Because It been a long time i use blockchain and coinbase so i use the default fees by blockchain and coinbase. no any issue and long delay.
sr. member
Activity: 308
Merit: 267
June 16, 2017, 06:26:35 PM
When i was a new to cryptocurrency i always set the fee to normal because usually i really want to received my profit as soon as possible but even tho it's a normal fee the fee transaction is still expensive and we all know that. I think the transaction fees will bring down bitcoins i hope in the next year or months they will solved the problem about transaction fees before some altcoins will pop out and beat the value of bitcoins because of the expensive transaction fee
member
Activity: 84
Merit: 10
June 16, 2017, 05:51:10 PM
Yesterday i send 0.18 btc with 10 satoshi per kbyte.. Later accelerated it in vicabtc. Fortunately evertyhing is ok and transcation got confirmed.

Thats actually quite amazing, I thought viabtc had higher minimum requirements. Generally I just pay the correct fee and get it done as fast as possible.
sr. member
Activity: 602
Merit: 250
June 16, 2017, 05:49:55 PM
I have used low fees without many problems, sometimes to my surprise the transaction gets confirmed within a short period, some others I've had to wait days for them to confirm. On a couple of occasions after waiting forever, the tx were discarded by the network and the bitcoin returned to my wallet.
If you use an online wallet like blockchain. I'm sure if you use a low fee (like 10k satoshi) you'll get your first confirmation the next day lol. Because I tried it some time ago and then cured, and I moved out of blockchain


Yes if a person will pay a lower fees then the confirmation of that transaction will take that much longer time and in that case if a person need their bitcoin faster to transact then he will be tired to wait for that transaction but if a person will not need it faster then he will be ok for that.
sr. member
Activity: 441
Merit: 250
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June 16, 2017, 05:45:17 PM
Yesterday i send 0.18 btc with 10 satoshi per kbyte.. Later accelerated it in vicabtc. Fortunately evertyhing is ok and transcation got confirmed.
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