Coinbase added a fees now - page 3. | Bitcointalksearch.org

springgers

sr. member

Activity: 294

Merit: 251

Quote from: radhwane on March 24, 2017, 03:47:35 PM

its not a problem to send over 50$ with 0.80$ or even 1$ of fees
but its not good to send 1$ with fees of 0.5$ , as i'm running a PTC website that pay bitcoin to users for view ads
lets say i'm going to pay to 10 users every users 1$
10x1.5$ = 15$ , 5$ fees just to send 10$

Just use a casino wallet to send them out for free to all those users if your going to make it a big deal with having to pay them all out.
Dam it.
Just don't send from your coinbase wallet or they will freeze all your bitcoins or anything you have in your account besides that.

Yuuto

hero member

Activity: 644

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Quote from: Humanxlemming on March 23, 2017, 01:14:40 PM

What is your reaction regarding to all coinbase user that they add fees now, actually i just know this 1 hour ago when i tried to send a btc to my mycelium account and when i try to send all my balances it seems say that is not worth it and i try to decrease it .001 as usual it confirmed with 50k satoshi fee....

Anybody coinbase user here... What is your reaction or feedbacks about in coinbase that it add fees now?

And also what is disadvantage will happen?

What, really?

I used to use Coinbase a lot when I was a beginner and a faucet reaper.

To be honest I am pretty shocked at the company's decision. Because the main reason people use their service anyways is to avoid the high network fees. People obviously are abusing it and it is generating too much burden on Coinbase's wallets to keep up with the ever growing bitcoin price as well as transaction fees.

Well, this opens up a new market for micropayment wallet services, as well as competitors like Xapo.

LTU_btc

legendary

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Slava Ukraini!

Quote from: radhwane on March 24, 2017, 03:47:35 PM

its not a problem to send over 50$ with 0.80$ or even 1$ of fees
but its not good to send 1$ with fees of 0.5$ , as i'm running a PTC website that pay bitcoin to users for view ads
lets say i'm going to pay to 10 users every users 1$
10x1.5$ = 15$ , 5$ fees just to send 10$

If fees is too high for, you can do payments to microwallets like Faucethub or ePay. You can use their API to send payouts. It would be best solutions, because they are not charging fees for payments, you only will be charged small fee from your deposit.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: radhwane on March 24, 2017, 03:47:35 PM

its not a problem to send over 50$ with 0.80$ or even 1$ of fees
but its not good to send 1$ with fees of 0.5$ , as i'm running a PTC website that pay bitcoin to users for view ads
lets say i'm going to pay to 10 users every users 1$
10x1.5$ = 15$ , 5$ fees just to send 10$

I have the feeling a lot of sites like yours will end up going to another coin, like DOGE, simply because it's cheaper. Even LTC would work as an alternative.

radhwane

hero member

Activity: 696

Merit: 500

its not a problem to send over 50$ with 0.80$ or even 1$ of fees
but its not good to send 1$ with fees of 0.5$ , as i'm running a PTC website that pay bitcoin to users for view ads
lets say i'm going to pay to 10 users every users 1$
10x1.5$ = 15$ , 5$ fees just to send 10$

springgers

sr. member

Activity: 294

Merit: 251

Quote from: radhwane on March 24, 2017, 03:28:22 PM

i was using coinbase to send bitcoin to my users without any fees but now they add fees 0.5$ per transactions
but transfer from coinbase to another coinbase still for free just enter email receiver , do not enter an bitcoin address
or they will count a fees of 0.5$
also there are no send in bulk at coinbase

That is still cheaper than the wallet I am using and the dynamic fees they added on to the transaction I did just this morning.
It was for $0.80 to send out $49 worth of bitcoins.
So that was still cheaper for the amount of bitcoins sent.

radhwane

hero member

Activity: 696

Merit: 500

i was using coinbase to send bitcoin to my users without any fees but now they add fees 0.5$ per transactions
but transfer from coinbase to another coinbase still for free just enter email receiver , do not enter an bitcoin address
or they will count a fees of 0.5$
also there are no send in bulk at coinbase

olubams

hero member

Activity: 798

Merit: 503

Its actually not their fault as at the time that they Dont charge any fees! Its not as if the fees are not there but its because they are paying it on users behalf. We all agree that the tx fees are going through the roof these days and comparing the number of users that are they have to service on a daily basis then they just need to shed some of the cost if they are still interested in running a business...

FLoving

hero member

Activity: 1022

Merit: 521

There were a number of issues to the members of coinbase and they still stick to coinbase the reason was that it was not have any fees but now as it have implemented some fees on their members' transactions any person who will face an issue will immediately leave that.

Bibite

full member

Activity: 187

Merit: 100

Bitcoin has never been anonymous. This is one of the misconception about bitcoin. And about this change on coinbase, this is something that was needed to be excepted soon or later. I am not surprised about it. They couldn't continue paying the fees for the miners forever

Arvydas77

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Snorek on March 23, 2017, 08:26:40 PM

I am only surprised that Coinbase managed to keep their business fee-less model for so long. They most likely wasted quite some money on these high fees.
Bitcoin users need to understand - privacy is not free, by using Coinbase they were giving up their privacy - therefore fees were paid for them.
But when the situation changed, and fees become too much of an economic burden for Coinbase, they give up. No reason to use CB as a wallet anymore.

The higher degree of privacy costs much less if you are using Monero and your privacy is really much more protected. Bitcoin isn't anonymous coin anymore. Governement can track you.

erikalui

legendary

Activity: 2632

Merit: 1094

It's better to use blockchain and add a variable fee instead of using coinbase that's useless now if they are charging such high fees for every transaction. First of all, they are a third-party wallet not giving us the private keys to our addresses and then they close accounts if they detect unusual activity making us very our accounts. What's the point of using their wallet now after that have hit the last nail in the wall?

BitcoinNewsMagazine

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Faucets will go away. No big loss. Had to happen sooner or later.

ranlo

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Quote from: Snorek on March 23, 2017, 08:26:40 PM

I am only surprised that Coinbase managed to keep their business fee-less model for so long. They most likely wasted quite some money on these high fees.
Bitcoin users need to understand - privacy is not free, by using Coinbase they were giving up their privacy - therefore fees were paid for them.
But when the situation changed, and fees become too much of an economic burden for Coinbase, they give up. No reason to use CB as a wallet anymore.

Fees were paid for by other fees they charge (buying and selling coins on their exchange and directly, as well as those charged for businesses that wanted to utilize them). So they didn't keep things "fee-less... for so long" -- what they did is make money on other services.

Snorek

legendary

Activity: 1400

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I am only surprised that Coinbase managed to keep their business fee-less model for so long. They most likely wasted quite some money on these high fees.
Bitcoin users need to understand - privacy is not free, by using Coinbase they were giving up their privacy - therefore fees were paid for them.
But when the situation changed, and fees become too much of an economic burden for Coinbase, they give up. No reason to use CB as a wallet anymore.

croato

hero member

Activity: 616

Merit: 500

1BkEzspSxp2zzHiZTtUZJ6TjEb1hERFdRr

I was using Coinbase web wallet for a while now but now i will stop that. At first they have limited transactions without fee to 20ish at day and now this. They are on way to act like fiat banks and i am just waiting to they charge fee just for managing our accounts. instead of Coinbase, i will use mycelium on my phone for pocket money. It is much faster, safer and better option for me.

ranlo

legendary

Activity: 1988

Merit: 1007

Quote from: Humanxlemming on March 23, 2017, 01:14:40 PM

What is your reaction regarding to all coinbase user that they add fees now, actually i just know this 1 hour ago when i tried to send a btc to my mycelium account and when i try to send all my balances it seems say that is not worth it and i try to decrease it .001 as usual it confirmed with 50k satoshi fee....

Anybody coinbase user here... What is your reaction or feedbacks about in coinbase that it add fees now?

And also what is disadvantage will happen?

I used them solely because they had no fees (same as Xapo). Now that both have gone the same route, I no longer use either one. Coinbase has been going in a dark direction lately with regards to their ridiculous way of reporting buys/sells, and this just pushes it over the edge.

LTU_btc

legendary

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Slava Ukraini!

Well, it was only question of time when they will introduce transaction fees. It's understandable step - now Coinbase have lot of customers, but since bitcoin network fees raised, Coinbase can't cover it from their pocket.
Free transactions was main reason why Coinbase become so popular. But now they don't have any advantages against other online wallets.
It's also worth to mention that Xapo earlier this year introduced fees (or in other words disabled) for small transactions. And I wouldn't be surprised if soon Xapo will start to charge fees for all transactions.

bL4nkcode

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Limited in number. Limitless in potential.

There are no disadvantages will happen, if people change there wallet well thats good to hear (tho coinbase is not a wallet, its an account) than to entrust your money on this kind of service that you dont have the access of your private key and also a service that has so many issues, I doubted if they are solved already by coinbase support.

Hassan02

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Quote from: Humanxlemming on March 23, 2017, 01:14:40 PM

What is your reaction regarding to all coinbase user that they add fees now, actually i just know this 1 hour ago when i tried to send a btc to my mycelium account and when i try to send all my balances it seems say that is not worth it and i try to decrease it .001 as usual it confirmed with 50k satoshi fee....

Anybody coinbase user here... What is your reaction or feedbacks about in coinbase that it add fees now?

And also what is disadvantage will happen?

I already hear that if they will add fee I prefer to use other online wallet since I use that wallet because I want to save some fees. I still have other choice like my local online wallet or else I will use the wallet that i have full control since it's almost the same that have fee. it will not be a big problem for me.

Topic: Coinbase added a fees now - page 3. (Read 2196 times)