Topic: Damn fees! - page 3. (Read 803 times)
Comrades when will be update Lightning network?
The hardness faced by bitcoin users this day is killing and this is due to the high transactions fees, which is discouraging newbies from buying bitcoin because in most cases you pay the transactions fees for buying bitcoin and again you may still pay it when selling your bitcoin. This high fees has halt many transactions and that is really affecting the price of bitcoin greatly, I pray the big guys the blockchains and miners will do something to save this situation soon.
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Yes I feel you but miners can't control the fees. The higher the price of bitcoin, the higher the fee will be charge to us. Hoping for the next development of bitcoin they include to lower the fee.
actually i believe that the "become rich with bitcoin and altcoins" is quite exaggerated because most people look at the prices and think "if someone did that they would have been this rich".
You have got the point. Bitcoin as a currency is in this moment a total failure, with such fees. Bitcoin has now become a pure speculative asset, you cannot use it to buy anything any more, except perhaps a flat in Dubai.
Fees and slow transfers are killing BTC.
No, the high fees are killing the usage of bitcoin as a currency but are not killing bitcoin in the overall sense, bitcoin is very much alive and well, but there is no doubt we need to solve that problem asap if bitcoin wants to make an impact in the next years especially since it seems a lot of money is going to be invested in bitcoin in the next years.
Well said OP and you make a very good point.
The miners are taking the piss and recommending BTC to friends and family is going
to cost people lots of Friends so tell them the boat has left the port and to buy into
Segwit B2X because the risk is a lot less.
The miners are taking the piss and recommending BTC to friends and family is going
to cost people lots of Friends so tell them the boat has left the port and to buy into
Segwit B2X because the risk is a lot less.
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
The amount of unconfirmed transactions are dropping. There shouldn't be that high of a fee when that clears up.Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Don’t enter the bitcoin world if you’re gonna be concerned about the transaction fees. Two things certain in life, death and taxes. In cryptocurrency, it’s the transaction fees.
Good point. Though its normal to raise issues about the transaction fees. I think people jhst needs a thorough explanation on why the tx fees shot up when btc rose in value. Lets see if segwit2x can do something about it
for us people in the philippines and philippines who also use the coins.ph wallet and in other worlds it's also a great fee for it because it's just the normal use of people and there are many ways to use the here, because of other wallets like blockchain, coinbase is okay coinpayment.net is nice and it's also legit them these wallet case long process so you get your money here and also stable 0.0002 fee for it.
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
you should exchange to ETH or Litecoin so the fees lower more than use bitcoinNot much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
But the problem here is that you will also lose a lot of bitcoin along the way. Just check shapeshift.io and try to change bitcoin-ETH and you will know what I'm saying here.
I have heard that there's LN coming, this has been promoted to really solved the issue. So let's see how it goes.
Don’t enter the bitcoin world if you’re gonna be concerned about the transaction fees. Two things certain in life, death and taxes. In cryptocurrency, it’s the transaction fees.
Don't be harsh mate. People complaining here are still in the bitcoin world, continues to trade but at the same time complaining about the ridiculous fees. How ironic, this high tx fees will still be here as long as bitcoin price is going up. But if solution like LN will be put up, we should expect something can be improved in the future.
Yeah, bitcoin's fees is pretty high compared to other coins. You told your friends only about bitcoin? There are pretty good altcoins in which they can invest their money in and they have pretty low fees as compared to bitcoin, for example ethereum. I think you should tell your friends to invest in ethereum as it's price is expected to go high and it is a pretty good altcoin with alot of potential. If they still want to invest in bitcoin, they'll have to pay the fees. I don't think you can do anything more.
This transaction fee paradox is really becoming annoying. I don't want to do any transaction any more. I think this will effect bitcoins future in a bad way comparing to all coins.
Don’t enter the bitcoin world if you’re gonna be concerned about the transaction fees. Two things certain in life, death and taxes. In cryptocurrency, it’s the transaction fees.
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
all Bitcoin players are experiencing this, Bitcoin's price is getting higher so to speed up transactions it needs fast Block breaking, to accelerate the fast splitting Block is a high cost, I am aware of this so I'm not too concerned if Bitcoin fee gets higher... CMIIW Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Yes I think the miners are way being too greedy for the high transaction fee, I mean talk about the our hard earned bitcoin which we are about to send to our loved will be much lesser due to the fact that the transaction fee is much more expensive than the money we are about to transfer.
The fees are too high to buy $100 worth of bitcoins.. If guys just stopped transferring in BTC the rates would be lower!
Some reason there is a VAT in the world and no one excuse that when your baby you have VAT. So that what it mean when you send or take also there is a Tax.
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Transaction costs have really turned up the volume as the years also progressed. However I still believe that they are a crucial part of crytpocurrency albeit very expensive ad these transaction fees are also used in making our bitcoin and cruptocurrencies what they are today
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Well you are right, the recent hick in the transactions fees in bitcoin was so alarming but that is gradually coming back to normalizes now. But from the analysis you made I have some thing to point out. 1 how can you pay for the transactions fees of buying bitcoin the seller has to bear that cost, in bitcoin you have to be smart and carry out adequate research on how things are done. And if your friend has the mind to wait for along time the $100 can earn enough interest. Not much, 50-100$ worth bitcoins just to start with it and to see how it works.
But here is problem - if they buy bitcoins for 100$ they will get that minus 25-30$ fee and they will pay fee for next transaction, so their 100$ worth bitcoins will become 40$ worth bitcoins. How to explain them this??
Is this really what bitcoin become? Currency used for miners so they can earn more money?
Bitcoin pending transaction is going back to normal. we should wait a little longer before it became cheap again. do not withdraw your bitcoins if it is small amount.
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