Topic: Do you consider sending bitcoin transaction miner fee a "Fee"? - page 2. (Read 1769 times)
A few days ago I tried to transact some of my bitcoins and I also found that the fees of miners for the confirmation of the transactions is much higher than what was before. With lower fees the transaction is completed but it take too much time. For faster transaction we have to pay a high fees.
Yes of course, i consider miner's fee as a fee because it is needed in the circulation because if no one will pay miners for their transaction then there would be no one will support the bitcoin network and the network will can't sustain its stability and the bitcoin will be destroyed.
Yes it is a fee and that's why it's called a fee, you are paying for a service and if you really look into what the service is that you are paying for then in most cases it is extremely cheap. You are not only paying for your transaction to be confirmed but you are also in a small way paying the miner to continue operating and keeping the network safe, although this mainly comes from the block reward if they are lucky enough to find the block.
whoever said "transactions has no fee" did not know how bitcoin works.
and yes i consider sending miners the fee as a fee but a small amount of it not the current amount of fee.
i consider this extorsion.
and yes i consider sending miners the fee as a fee but a small amount of it not the current amount of fee.
i consider this extorsion.
well it was possible in the past to send transaction without any fee and get it confirmed relatively fast not like today
Transaction fee is security feature of Bitcoin. Do you expect that peerless and decentralized ledger would be completely free to use?
You are paying to be able to use this system where there is no 3rd party, no middlemen and other forms of control.
This system is currently broken though, we are terrorized by miners to pay way to much.
You are paying to be able to use this system where there is no 3rd party, no middlemen and other forms of control.
This system is currently broken though, we are terrorized by miners to pay way to much.
transaction fee make sense only because the reward can not be unlimited(if you want a deflationary system) and will eventually reach a so low amount that can't sustain anymore the network for miners
this is the only reason for the fee, because for now miners don't need fee they have their reward
I think of it as a fee. Considering that miners are burning an amount of electricity equivalent to the entire nation of Lithuania, a reasonable fee seems like a reasonable way to compensate miners for giving MY transaction quicker attention. Of course, "reasonable fee" is a subjective amount which will be different for everyone, and frankly, current fees are unreasonable for me. So I hodl bitcoin, but I use ethereum and Monero for moving money around.
I get what you're saying about transactions not having fees, but in this case, there's a transaction processor, it's not truly person-to-person since an intermediary is necessary to add the transaction to the blockchain. Transaction processors have to be compensated somehow, and the block reward isn't forever.
I get what you're saying about transactions not having fees, but in this case, there's a transaction processor, it's not truly person-to-person since an intermediary is necessary to add the transaction to the blockchain. Transaction processors have to be compensated somehow, and the block reward isn't forever.
1) Is sending miner fee consider as a "fee"? As most of the blogs, articles mentioned : Transaction involves no fee
2) Will the rise of bitcoin push back users actually went back to the origin payment processor like paypal skrill? As the fees which sent is calculated by Satoshi per Byte.
According to https://bitcoinfees.21.co/ as of 4/3/2017
The fastest and cheapest transaction fee is currently 180 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 40,680 satoshis.
3) Is it possible to not include fee or a very low fee? If yes, will my transaction ever being sent? If yes, the max duration would be?
2) Will the rise of bitcoin push back users actually went back to the origin payment processor like paypal skrill? As the fees which sent is calculated by Satoshi per Byte.
According to https://bitcoinfees.21.co/ as of 4/3/2017
The fastest and cheapest transaction fee is currently 180 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 40,680 satoshis.
3) Is it possible to not include fee or a very low fee? If yes, will my transaction ever being sent? If yes, the max duration would be?
1) then stop reading random crappy blogs out there. people say all kinds of things. also it may have been an article from 5+ years ago when it was possible but still nobody said it is free and people despite being optional, included fees.
2) rise of bitcoin? you mean rise of bitcoin fees?
that can cause people to stop spending bitcoin and only think of bitcoin as an investment. like what you do with stocks, gold,....
3) yes it is possible. no it is not a good idea. the duration is not possible to predict. it may be never at this point because of how mempool is big.
Transaction fee is security feature of Bitcoin. Do you expect that peerless and decentralized ledger would be completely free to use?
You are paying to be able to use this system where there is no 3rd party, no middlemen and other forms of control.
This system is currently broken though, we are terrorized by miners to pay way to much.
You are paying to be able to use this system where there is no 3rd party, no middlemen and other forms of control.
This system is currently broken though, we are terrorized by miners to pay way to much.
whoever said "transactions has no fee" did not know how bitcoin works.
and yes i consider sending miners the fee as a fee but a small amount of it not the current amount of fee.
i consider this extorsion.
and yes i consider sending miners the fee as a fee but a small amount of it not the current amount of fee.
i consider this extorsion.
3) Is it possible to not include fee or a very low fee? If yes, will my transaction ever being sent? If yes, the max duration would be?
It seem possible with low fees. Just a week back I sent a transaction with a very low fees and it got accepted. However the process is very long.
I don't think a transaction without fees will be accepted though - unless a miner decide they want to do it for free (excluding the block reward)*.
Looking at https://bitcoinfees.21.co/, it seem like some transactions with zero fees which got accepted in the past 24 hours.
Hello i remember when the past when i first touch bitcoin, the best thing that attract me is the fee less transaction itself.
And during the olden days when i transact, the fee's doesn't show some impact because during that time the price of btc is just $300-400
But currently, i've came across in order to send and get within 15minute, i would need to sent a fee of $0.5 - $0.8 as a miner fee.
Of course by comparing to CC/DC payment, it is still a very low fee.
Despite of that, as i am using blockchain, the current transaction min fee i sent is $0.12 where in paypal for a $2 transaction i will just add a $0.02 fee.
1) Is sending miner fee consider as a "fee"? As most of the blogs, articles mentioned : Transaction involves no fee
2) Will the rise of bitcoin push back users actually went back to the origin payment processor like paypal skrill? As the fees which sent is calculated by Satoshi per Byte.
According to https://bitcoinfees.21.co/ as of 4/3/2017
The fastest and cheapest transaction fee is currently 180 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 40,680 satoshis.
3) Is it possible to not include fee or a very low fee? If yes, will my transaction ever being sent? If yes, the max duration would be?
Thanks! Cryptocurrency is a very wide knowledge area but also interesting, i hope that i could be someone who are in the field of cryptocurrency in the future!
And during the olden days when i transact, the fee's doesn't show some impact because during that time the price of btc is just $300-400
But currently, i've came across in order to send and get within 15minute, i would need to sent a fee of $0.5 - $0.8 as a miner fee.
Of course by comparing to CC/DC payment, it is still a very low fee.
Despite of that, as i am using blockchain, the current transaction min fee i sent is $0.12 where in paypal for a $2 transaction i will just add a $0.02 fee.
1) Is sending miner fee consider as a "fee"? As most of the blogs, articles mentioned : Transaction involves no fee
2) Will the rise of bitcoin push back users actually went back to the origin payment processor like paypal skrill? As the fees which sent is calculated by Satoshi per Byte.
According to https://bitcoinfees.21.co/ as of 4/3/2017
The fastest and cheapest transaction fee is currently 180 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 40,680 satoshis.
3) Is it possible to not include fee or a very low fee? If yes, will my transaction ever being sent? If yes, the max duration would be?
Thanks! Cryptocurrency is a very wide knowledge area but also interesting, i hope that i could be someone who are in the field of cryptocurrency in the future!
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