Topic: bitcoin fees, where's your limit? (Read 2654 times)

I don't send out too many transactions as I am more saving up everything. But when I do I mostly stick to around 0.0003-0.0005 BTC in fees depending on the priority. I think that's the real max I would pay for a normal transaction that I don't mind waiting some time for. If it has a top urgent priority, then I would probably double the fees.

forget coffee.. think internationally!!

$2 is a weeks wage in some countries
suggesting 10cents (2 hours labour) is acceptable and a weeks wage is "spam" is the mindset of close minded people.

bitcoin should not be limited to developed countries, but open to any country. where CODE is used to limit spam. not economics
only the bank loving devs believe that economics is the answer. which makes me lose faith in those devs as coders because they are ignoring CODE as the answer to 'spam'

as for anyone thinking segwit is going to offer big discounts your wrong. the fee war over the last 11 months has made the average tx high, that segwits discount is just backdating prices back to last year..
its like going to walmart and seeing the price of some produce double in price just so they can stick a 50% off price ticket on afterwards, even if the discount is the same as before the proposal.

as for anyone thinking LN is going to offer big discounts its not (explained here https://bitcointalksearch.org/topic/m.16925401)

basically proposing $4 (0.0006) PRE-PAY fee just to use it. and it only works out cheap if you do thousands of tx's in the 10day lockin the scenario suggest..
the scenario and price examples are wrote by those coding LN..

the scenario also says
use it only once or twice, your penalised. try to close the channel early to not be penalized, guess what your penalized.

again LN is NOT USING CODE to mitigate error, blackmail or DDoS risks.. it uses economics.. completely ridiculous!!
but hey. when you see how the devs coding these 'features' are paid its becomes obvious why they prefer economics rather than logic/code

I agree and bitcoin's decentralization feature attracted online sellers for that idea and for security too. If the fees are higher,it became the same as other sites which charges higher fees. I hope this is not the scenario in the future.As of now,fees is still cheaper.

Bitcoin was created to avoid bank taxes and stuffs like that and now we can see a scenario in the future where the fees value can be a problem. That's ironic.


I don't know about the limit, maybe it will be a common sense, people will stop to make transactions if the price goes too high so in that way everything will go be more cheap.

as the fees have been marching ever upwards, have you found yourself postponing or putting off transactions completely?

i have a balance with a bunch of inputs that got a little out of control so i've given up thinking of buying anything and am waiting for a reason to swallow the fees. guess my limit's already been reached.

would there be a point where you stopped buying things with bitcoin or would you do it for ideological reasons or because you're already sitting on a huge gain?

i could live with high fees if i felt bitcoin was showing strong signs of being gold 2.0, i'd park them and wait, but i think the market's just the same old bunch of people with no real signs of that on the horizon.

i think many massively overestimate the appetite the majority of users have for the expense and may end up a little surprised when many of them walk away, and even more who were considering it never dip a toe in.

is this a blip while we wait for a second layer, a new reality that most will be ok with or hubris that's gonna fatally bite some asses?

My limit of fees is usually about 10 cents max per transaction. but usually i just include around 0.00015 in fees per transaction and this lets my transaction be confirmed in about an hour which works fine for me.

You should understand, there isn't an end of this. It will rise and rise, the network always will be busy and flooded and they will use this as an excuse for high fees. 1-5 bucks no big deal for now but when it becomes 10-30$, that will be a deal breaker for many of us.

Really you would dump bitcoin because of the fees?
I will keep using it.Just alone because of the potential of future growth it is having.
As long as the fees is cheaper than the all the other traditional one I will be happy!
If I send coins worth $10k for a fee of bucks there is no reason in my opinion to complain about.
Bitcoin might evolve to a network for big transactions who knows!And small payments will happen on higher layers or maybe sidechains.

A 6% transaction fee (sadly) wouldn't be much higher than a lot of financial payment services.
Hell, people take out payday loans that charge 200-300% interest and are borderline illegal. (Soon to be illegal in California.)

I personally would not buy something worth 15$ if I had to put one dollar at the top of it just to make the transaction.

It is always a question for what bitcoin are used.
When they are considered to be an investment, the fee usually does not matter. One time bought, one time sold after a long time. That's it.
But when people actually want to use bitcoin as a payment system, the fee will matter a lot.
I personally would not buy something worth 15$ if I had to put one dollar at the top of it just to make the transaction.
Hopefully we will never see that developement.