Topic: BTC innately hinders growth of the BTC economy (Read 753 times)
Technically, you don't have to include any transaction fees. However, it is a good practice and is default in most wallets. The fees will provide an incentive for the miners to keep working once the amount of btc they create lowers. Frankly, the fees are low enough that they shouldn't hurt any transactions that will make a difference in the bitcoin economy.
I was reading a thread about the minimum transfer fee, and thought to myself that these fees are eventually what will sustain bitcoin. Now, these fees also, to some extent, make users less likely to spend their BTC.* Now, everyone knows that for an economy to grow, money has to be spent. This is essentially why fiat currency was originally created- to facilitate the spending of money. Thoughts?
*While this does make BTC users less likely to spend in small amounts, this may actually encourage them to lump payments together, or to spend in larger amounts. It is a balance, give and take.
*While this does make BTC users less likely to spend in small amounts, this may actually encourage them to lump payments together, or to spend in larger amounts. It is a balance, give and take.
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