Topic: Damn fees! - page 4. (Read 793 times)
Bitcoin was proven unsuitable for micropayments as early as a year ago, since the blockchain problem with bitcoin since then has been put on the agenda, except that for most personal discourse because of personal interests BTC players have no common opinion.
My cousin bought about $100 worth of bitcoin a year ago and I told him to hold onto it for a minimum of 1 year. He sold it in December, when the price was +/- $18 000 and made a profit of about $600 after trading fees and miners fees were deducted.
The biggest mistake these people make, is to think that Bitcoin is a short-term investment. He paid $6 miners fees on his transactions and he did not even blink.
The biggest mistake these people make, is to think that Bitcoin is a short-term investment. He paid $6 miners fees on his transactions and he did not even blink.
No, Mycelium's Segwit implementation is still a work in progress. But Samorai wallet has Segwit now enabled by default. If you do mind helping them test their app for Android by downloading it on the playstore, you can also go here to download, https://samouraiwallet.com/alpha.html
Use only a small amount as you should with mobile wallets.
Use only a small amount as you should with mobile wallets.
Don't make transaction if you can't accept the fees then make after this problems in fees,nothing gonna happen if you always think negative about bitcoin atleast plan to make big transaction instead a small so even if transaction fees are really high you can still has good and big amount of transaction.
That's it?Don't make transactions if you can't handle the fees?
Make large transactions?
That is stupid.
When transferring, you can exchange to ETH or LTC as the fee is lower and transaction is quicker.
Which part of my post you don't understand?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.
What are you doing in bitcoin discussion? Go to altcoins. Or trading discussion.Why it has huge fees in your country? We don't have that huge amount of fees here in our Country when we buy bitcoin it is depend on how much will you going to buy bitcoin, maybe it is your wallet. Make sure that their wallet is trusted before using that kind of wallet.
What the fuck does this mean?Jessus posts here.
Start using Segwit. It is the best technological solution the Bitcoin Network has to help solve the "high fees" problem. I also call for the community to start asking their most used Bitcoin merchants and services to also start enabling Segwit on their side.
Stop using Blockchain.info and start using Green Address, https://greenaddress.it/en/. It is more secure and has Segwit enabled by default.
For other Segwit wallets for mobile and desktop, there is Samourai wallet and here is the instructions how to make one in Electrum.
This. But most services are not doing it, i am not sure why. Sorry for stupid question, can I use that address for mycelium? Stop using Blockchain.info and start using Green Address, https://greenaddress.it/en/. It is more secure and has Segwit enabled by default.
For other Segwit wallets for mobile and desktop, there is Samourai wallet and here is the instructions how to make one in Electrum.
Quote
Generate a BIP39, 12 words seed on https://iancoleman.io/bip39/, you can also use it offline for more security.
On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.
On derivation path path use: m/49'/0'/0'/0
On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.
On derivation path path use: m/49'/0'/0'/0
what irony ))) When people's tell about blockchain and bitcoin, he operate with anonymous adresses of bitcoin network and low transaction fees, but in real case not everything is fine as it seems.
im not gonna lie, but thats kind of thing you need to say to your friend before they involve with cryptocurrency. also using alt would be nice decision
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.
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 bitcoin 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?
Why it has huge fees in your country? We don't have that huge amount of fees here in our Country when we buy bitcoin it is depend on how much will you going to buy bitcoin, maybe it is your wallet. Make sure that their wallet is trusted before using that kind of wallet.
We always can set the transaction fee, but I afraid if I set too low transaction fee, my transaction might be not confirmed. Is there any relation between the number of minner and their mining tools hash power with the fee of bitcoin transactions? Since bitcoin transactions are competting each other may be bitcoin transaction can be decreased by the increasing number of minner. How do you think? 
Why it has huge fees in your country? We don't have that huge amount of fees here in our Country when we buy bitcoin it is depend on how much will you going to buy bitcoin, maybe it is your wallet. Make sure that their wallet is trusted before using that kind of wallet.
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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?
I think you can explain to them what exactly happen with bitcoin plus what happens with the fee (if you know). but yes, this is a big problem for every bitcoin user and I think if this is not going to fix, we have a big trouble in the future. I don't know about this is being used by miners so they can earn more money but I think it is because the network needs more power to confirm the transactions and a small fee will get delay confirming. I hope soon this problem could be fixed so we don't have to face this experience again in the future.
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?
Start using Segwit. It is the best technological solution the Bitcoin Network has to help solve the "high fees" problem. I also call for the community to start asking their most used Bitcoin merchants and services to also start enabling Segwit on their side.
Stop using Blockchain.info and start using Green Address, https://greenaddress.it/en/. It is more secure and has Segwit enabled by default.
For other Segwit wallets for mobile and desktop, there is Samourai wallet and here is the instructions how to make one in Electrum.
Quote
Generate a BIP39, 12 words seed on https://iancoleman.io/bip39/, you can also use it offline for more security.
On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.
On derivation path path use: m/49'/0'/0'/0
On electrum choose, create new wallet, I already have a seed, then on "options" choose BIP39, paste the seed then click next.
On derivation path path use: m/49'/0'/0'/0
i think this is due to a lot of transactions happening daily and the hr number of miners are still not increasing, ever since the value of bitcoin had reached 20k usd, there has been a congestion in the network and the fees had started to rise, i think miners should also adjust at this time, since the value of bitcoin had dropped. in my opinion, the number of miners should also increase, in order to aid in the congestion of the network, if the fees are still high and there is congestion, people will look for another currency to replace bitcoin and this may be bitcoin's down fall, though it has a high value if not being used as currency and if people are having a hard time during transactions, the value might remain the same, but will be overtaken by another competitor.
i really dont know they doing this..i invest 50k satobsi at gambling site and it's fee? 100k satoshi wtf?
Just the other day, I was helping my niece download a BTC wallet. I had planned to send her $20 of btc and $20 of bch. The BTC amount couldn't be sent on my wallet even though I had more than $200. The fee was soo high because I had recieved the coins through many inputs
I was telling my friends about bitcoin for almost a year and they decided to enter crypto world and buy some bitcoins.
Not much, 50-100$ 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?
When transferring, you can exchange to ETH or LTC as the fee is lower and transaction is quicker.
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?
Will,in that scenario we cannot control that kind of fees,because every transaction that we made,and one this example is changing fiat to bitcoins, there's certain amount they put in every exchanging site's that they want to deduct in your capital,every trading sites have its own amount of service charge fee's.thats the reality of digital world because its decentralized and not controlled as one .while that part of the miner on how they can earn more money because there equipment helps in the block chain to make the transaction smoothly,and fast,maybe in my own opinion miners earns worth of there sevices in the block chain market.
It's the chinese miners and the coinbase inside traders that are making the transaction fee so high with the network spam so people turn to bitcoin cash and they can earn more. But things are getting kinda better now the transaction fee is lower than 10$ at the moment. Try explaining that now 
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Why would I even pay A WHOLE LOT more just to get my transaction through faster? This shouldn't be how Bitcoin works. Banks are now better and faster than this.
OK, I reran my transaction by buying Ethereum and it confirmed essentially instantly.
BTC confirmed after over 2 hours.
So the transaction model is if your trading partner takes an altcoin that your exchange supports is to convert to the altcoin and run the transaction.
BTC is a long term store of value, I am happy to put my liquid cash there even for a few weeks and take it out when I need it.
BTC confirmed after over 2 hours.
So the transaction model is if your trading partner takes an altcoin that your exchange supports is to convert to the altcoin and run the transaction.
BTC is a long term store of value, I am happy to put my liquid cash there even for a few weeks and take it out when I need it.
May I ask how did you Bitcoin transaction clear after just 2 hours?
The current fees state to get your tx confirmed in under 2 hours takes a very large percentage of fees.
Are you really willing to lose such a percentage of your Bitcoin just to confirm your transaction that fast?
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