Topic: Are zero transaction costs possible? - page 3. (Read 577 times)
It isnt possible to be zero, it is the way they benefit from the transactions you make. If all still within reasonable limits why not. All are business people and this is the business world, anything can happen
Theoretically, it is possible to conduct a transaction for free, but almost not sure that it is possible.All services have their price and that's normal.
It is more than impossible because miners are transacting those transactions for the sake of them, they are getting remunerated for that, and they will not be transacting those if they get zero dollars for that, do you understand how mining works now?
the transaction fees in my opinion are not too much, especially there are some coins which charge only cents for a transaction regardless of the amount. Try the bank transaction fees and you will understand the difference.
What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?
In my own opinion, maybe in the future when the technology grows even more then there is a huge chance for the transaction fee's to decrease and might become free in the future.
What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?
I think that is impossible because if no transaction fee for every transaction no exchanges and wallet provider will serve us to process of our Bitcoin or any altcoin to make transaction in any different way.
I don't think that's possible. If there's zero cost, who's going to maintain the entire block network?
Blockchain decentralization must have a reward system, which requires a fee.
However, it is entirely possible to reduce the fees. When the throughput goes up, the fees will naturally go down.
Blockchain decentralization must have a reward system, which requires a fee.
However, it is entirely possible to reduce the fees. When the throughput goes up, the fees will naturally go down.
I dont think it posible to be 0 fee transaction.. Because it's business they pay about the site and the editor of their site also the protection of their site.. Maybe in a smaller price but if that posible, well thats good
If Bitcoin transactions are too expensive, people will start using other platforms. For Bitcoin community,it's unprofitable. But what was happening with the prices of transactions last fall is very sad. 50-100 dollars for 1 transaction - it was quite a common thing. And if you need to transfer $ 10 in bitcoin or $ 1?who needs this? nobody. It's necessary to make payments in bitcoin to be profitable for each amount, and not only in some cases. only Bitcoin will become really necessary and popular.The miner should receive a reward for finding the block , that's his main earnings. And the fee for the commission should aim to zero.
Honestly, I don't think so that there is such a free or zero cost of transactions fee because I think the fees that we pay is the way that one company or organization are made just to have a business profit. Any association, organization or companies are applicable to get a fees for their services offered so I think at this current time it's impossible to have free or zero fee if we doing or making transactions.
In my opinion it can't be happening for bitcoin transaction with zero fee because bitcoin transaction need fee for the miner. The fee is for the miner as to cover their effort to mine bitcoin.
I think it is impossible to have a zero transaction fee since every process needs to be paid and has a certain amount that should be paid depending on how difficult it is to be processed. In this world there's nothing free, they may say it's free but there may be a hidden charge or something else.
What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?
I think it is impossible, there are mechanisms and processes that require a fee in every transaction. I think you realize that
although I do not understand the mechanism but that's the fact that happened
posible if the transaction is bitcoin to bitcoin there's applications that can transac with 0 fee. but if tha transaction is bitcoin to altcoin its imposible to transac without a fee..
I don't think it is. The transaction cost are used to run the Ecosystem and to sustain it. I don't know how possible it is to completely remove it. It may possibly lead to a collapse of the system
What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?
If it's possible, bitcoin will surely will be the only currency in this world.
But i think it's impossible cause the network build is need money to stand last
Rather than possible, Its not feasible for miners to confirm that transaction. Think for yourself being a miner. Why will you work for free after investing heavily into hardwares and also electricity costs.
I could`nt say yes,because collecting the fee by many transaction such like a paying tax in the government,So many of those token or altcoins that using blockchain ,is this is the way how they`re collecting taxes from them.
There are some other altcoins that offers zero or near-zero transaction fees. As for BTC, it's really needed to reward the miners.
both statements are kind of wrong.
first these altcoins aren't really used so you can't really talk about their fees. miners have no other choice but accept whatever people are paying them or not in fees. so having zero or near zero fees doesn't count for them.
second the fee we are paying miners is NOT needed to reward miners they are already receiving $78000 per block they find. they don't need the fees now.
What do you think, is it possible to have zero transaction costs for bitcoin/altcoin.
I experienced this before, there's no fee for real with bitcoin transactions and I enjoyed sending amounts before. Time flies so fast and upgrades are happening.It's still happening, if you are using a local wallet sent to the same local wallet address = no fee.
At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?
You can set your own fee depending on the wallet you are using. They give the "recommend fee" which you can receive it with a good ETA. Jump to: