Topic: Do you think the transaction fee will kill bitcoin? - page 8. (Read 6836 times)
Right now the fees are not that high but maybe if government will recognize the bitcoin then start to collect taxes on every transactiom that will surely kill slowly the bitcoin users not the bitcoin itself.
One of the main reason why people liked bitcoin was due to the low transaction fee...We can already feel the effect in online services.
i think the transaction fee will not kill bitcoin because with the high fee at least up from the standart fee, it would make the transaction getting fast confirming and we don't have to waiting too long. if people wants to send the bitcoin to other and if they don't want to use high fee, then they still be able to use standart fee which is the transaction needs too long to gets confirmed.
Fees will not go much higher than $1 or so because even spammers will eventually run out of cash if they try to constantly compete with legit users, for me paying the max amount of $1 for a transaction of a size of 700Bytes or lower is still tolerable.
If you receive 0.05BTC you need to spend all of it as one transaction and if you split it then your next TXs will become big in data size and you'll have to pay even higher fees.
If you receive 0.05BTC you need to spend all of it as one transaction and if you split it then your next TXs will become big in data size and you'll have to pay even higher fees.
Right now on my wallet, I want to transfer money from my Android wallet to my cold storage wallet. The fee is so high, that it's not worth to initiate the transfer, everyone says bitcoin has the lower fee to transfer value over service like the Western Union.
I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
If things keep going in the current direction bitcoin will not be killed but any usability as a currency will be severely limited as there will not be a way to make small payments at all, so I don’t think the current situation will kill bitcoin but it will slow down its adoption and change the way people use bitcoin. I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
I cant really say anything about fees killing bitcoins? i think no.If it really does bitcoin must be gone long time from now since bitcoin is invented.Fees are just the profit of the network who manages all transfers.But if fees are too high then i think that will be a problem
so,what does the fee increasing means? I think it's not a bad sight.It means more and more people coming to Bitcoin.
It does mean that more people are adopting bitcoins than before and people want to get their transaction verified as fast as possible and hence putting in high fees because of which the average has gone up.
so,what does the fee increasing means? I think it's not a bad sight.It means more and more people coming to Bitcoin.
Right now on my wallet, I want to transfer money from my Android wallet to my cold storage wallet. The fee is so high, that it's not worth to initiate the transfer, everyone says bitcoin has the lower fee to transfer value over service like the Western Union.
I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
At least I can still pay the fees for my transaction in below a dollar range and it will not kill the bitcoin in the future. Yesterday my transaction got stuck for 20 hours and that's really annoying in my mind. The bitcoin network is in the alert area regarding his performance. I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
Right now on my wallet, I want to transfer money from my Android wallet to my cold storage wallet. The fee is so high, that it's not worth to initiate the transfer, everyone says bitcoin has the lower fee to transfer value over service like the Western Union.
I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
Let me guess, you transfer low amount like transaction fees amount? Better to calculate again.
You can use free fees if you the patient person.
I'm still fine with transaction fees recently. It will not kill bitcoin.
I think the real problem after coin supply over, if there's still no good solution and the fees decrease repeatedly, the demand will drop, transaction drop and the miners hanging up their equipment, then dead. (No, it's just parable of the worse situation).
I have two txts using the standard of 10-20 sat and have had it sitting in the mempool yes its a storage location at this point pretty much on 0 unconfirmed status with a relay for a week. (Finally just got both confirmed at the exact same time and they are 10 Blocks in so it was really slow)
https://blockchain.info/address/1PKG3V2aq7ppdFc8UHa5gekmjrJU4NjXQx
Would recommend off chain in alt for now until Bitcoin solutions are agreed upon on consensus or a fork.
I don't think that the transaction fee will kill Bitcoin because the whole Bitcoin project was about transferring payments easily with electrically.
High amount transaction fees are used to reduce the traffic and bitcoin circulation control. so,the transaction fees are must for use bitcoin safely.
i think it will certainly put effect on bitcoin if the transaction fee will continuously increasing, therefore i think it is necessary to regularize the price the transaction fee and keep is as minimum as it can be. High amount transaction fees are used to reduce the traffic and bitcoin circulation control. so,the transaction fees are must for use bitcoin safely.
It might be, there are a lot of complaints regard to the bitcoin fee which I personally think is a bit high, and if this keep continue or the fee goes up some people might stop doing transaction using bitcoin and in a long term it can kill bitcoin, this problem is quite critical, so it need attention to be fixed
I use 0.0004 or so to do transfers. Sometimes less. If time is not an issues I use 0.0001btc .
You don't see why you mist have it paid in seconds. People sre so impatient. I'm serious now why do you guys want the transactions done so fast ? I'm interested to know. I dont mind it. I certainly dont think ot will destroy bitcoin. Thst means bitcoin destroys itself by design.
You don't see why you mist have it paid in seconds. People sre so impatient. I'm serious now why do you guys want the transactions done so fast ? I'm interested to know. I dont mind it. I certainly dont think ot will destroy bitcoin. Thst means bitcoin destroys itself by design.
Bitcoin can never scale anywhere onchain, so if you want to make micro transactions worth of satoshis, forget about that until we have lightning network, all other methods have been proven to be worse than offchain scaling if you want to make such small movements. So help the network by downloading Bitcoin Core 0.14 and run it in order to get segwit going, which makes LN better and also raises blocksize without centralizing the network (ignore trolls debating this)
Yes, I agree with you; It's a good idea to download bitcoin core 0.14, It's a good help from bitcoin community to larger block size. If i had a good internet connexion i'll do that. It's time to help each other, bitcoin community in general.Anyways, I don't think that transactions fees can kill bitcoin. Bitcoin is immortel.
It won't kill bitcoin as long as it doesn't keep going up 
There has to be a limit somewhere.
The transaction cost used to be at 0.0001 for years. I remember sending transactions with this fee from 2014 to early 2016 and suddenly last year it started to be not enough. And I would be completely ok with the fee doubling, but it has tripled in a year! If this continues next year we'll be paying again 2 or 3 times more and this will eventually lead to something bad.
There has to be a limit somewhere.The transaction cost used to be at 0.0001 for years. I remember sending transactions with this fee from 2014 to early 2016 and suddenly last year it started to be not enough. And I would be completely ok with the fee doubling, but it has tripled in a year! If this continues next year we'll be paying again 2 or 3 times more and this will eventually lead to something bad.
Bitcoin can never scale anywhere onchain, so if you want to make micro transactions worth of satoshis, forget about that until we have lightning network, all other methods have been proven to be worse than offchain scaling if you want to make such small movements. So help the network by downloading Bitcoin Core 0.14 and run it in order to get segwit going, which makes LN better and also raises blocksize without centralizing the network (ignore trolls debating this)
I find it cheap when it comes to an international level even in the case of high fees because it costs less than other payment options but on a local level, it is not worth it for me to spend it. One reason is that there are no merchants around me to accept bitcoin and second one is that many goods and services are available at the rate of current bitcoin fees so why would someone pay using bitcoin if he is required to pay more.
I don't think that the transaction fee will kill Bitcoin because the whole Bitcoin project was about transferring payments easily with electrically.
High amount transaction fees are used to reduce the traffic and bitcoin circulation control. so,the transaction fees are must for use bitcoin safely.
High amount transaction fees are used to reduce the traffic and bitcoin circulation control. so,the transaction fees are must for use bitcoin safely.
Right now on my wallet, I want to transfer money from my Android wallet to my cold storage wallet. The fee is so high, that it's not worth to initiate the transfer, everyone says bitcoin has the lower fee to transfer value over service like the Western Union.
I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
I am very disappointed with the fee, what is your view about the transaction fee? Do you think that that will be the beginning of the end for bitcoin?
Let me guess, you transfer low amount like transaction fees amount? Better to calculate again.
You can use free fees if you the patient person.
I'm still fine with transaction fees recently. It will not kill bitcoin.
I think the real problem after coin supply over, if there's still no good solution and the fees decrease repeatedly, the demand will drop, transaction drop and the miners hanging up their equipment, then dead. (No, it's just parable of the worse situation).
I think anything over much can destroy good value of a thing. If bitcoin want to add good value in transaction fee let it bring down some pecentage of the transaction fee. Race cost also promote ventures.
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