Fee Issues - page 2. | Bitcointalksearch.org

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: jyakulis on January 05, 2018, 04:57:33 PM

Why can't the devs just make the transaction fees free unless you want want to prioritize speed and add like a 0.25% yearly inflation as the block reward post 21 million?
It seems it would make the bitcoin more spendable. Huh

Because it would turn in into fiat.
Dev don't make and don't charge fees.
Miners don't set fees.
Users are the ones that are setting the fees.

Quote from: jyakulis on January 05, 2018, 05:24:05 PM

I SHOULD know more than anyone Roll Eyes

Yeah the fees are there because after 21 million there would be nothing to incentivize miners. Hence why I'm saying kill the fees and trade it for VERY MINOR inflation to make it more spendable.

There is a little difference between what you should know and what you actually know.

Let's assume we drop the fees and allow 0 tx to spam the blockchain.
In a matter of minutes a spammer will turn the blockchain into a 1petabyte piece of...crap.
You want that?

ImHash

hero member

Activity: 924

Merit: 506

We all need to start using segwit, You are not supporting core developers, No one is supporting them, All the services/ Exchanges/ Wallets etc, Should use segwit addresses for the plan to work, Of course we all are free to use legacy addresses but then we'd to pay the high fees and complaining about it is futile, Segwit is not yet completely adopted, How would you expect the same people support lightning?

altGear

jr. member

Activity: 73

Merit: 1

PRiVCY

BTC core recently performed the mainnet test of lightning network

It will take time to fully implement and see the benefits of the lightning network but as this systems increases utilization BTC fees will go down and transaction time frames will speed up...patience is key! There are various tricks when sending between exchanges, and services like bitpay (used by many merchants) are adding alt cryptos like BCC. Wallets like Samourai Wallet support segwit addresses and utilize fee reduction mechanisms like smart / custom miner fees and RBF (Replace By Fee) allowing you later increase the miner fee of transactions for quicker confirmation...there is stuff in the works and is being developed at record rates ;)If you have specific questions about how to lower fees based on what your doing DM me and I'de be glad to answer some of your questions. I'm running a Discord channel for beginners to network and access resources

DM for invite to a crypto beginners discord group.

sumolpunk

newbie

Activity: 24

Merit: 0

Use alts to shift btc around, there are still many exchanges that do not charge fees to move btc. Many exchanges charge minimal fractions of a % to trade coins instantly and then transfer elsewhere. For example, one could convert btc to ltc and transfer to a popular exchange for only a small fee like .001 ltc, then use one of the many popular exchanges to withdraw btc (some with zero fees, you just gotta look around)

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Quote from: jyakulis on January 05, 2018, 05:09:55 PM

gold slightly inflates every year.

As does Bitcoin for now, and similarly to gold, the amount that it inflates by will theoretically decrease until the supply eventually stops increasing (although in gold's case, this will never quite happen and there may be interruptions such as mining gold on different planets).

It's not the miners' rewards that are the main concern devs have about increasing the block size. It's the potential bandwidth and storage demand on nodes.

A fork to increase the supply would also not garner any support from the economy as users' coins would be less valuable in the future as a result of the fork.

BTCforJoe

hero member

Activity: 882

Merit: 976

Quote from: jyakulis on January 05, 2018, 05:24:05 PM

Quote from: error08 on January 05, 2018, 05:20:01 PM

Core developers can not just change the nodes because they want, don't you see it takes years to implement segwit? which seems useless due to most platforms are not using it. You should know better why we have to pay fee, because bitcoin require miners to solve the blocks and it's not easy as you need ASICs which takes lots of money. No one want to mine bitcoin if they are not paid, Satoshi Nakamoto has made the nodes works this way to ensure bitcoin's environment could run and last as long as possible.

I SHOULD know more than anyone Roll Eyes

Yeah the fees are there because after 21 million there would be nothing to incentivize miners. Hence why I'm saying kill the fees and trade it for VERY MINOR inflation to make it more spendable.

In order to do this, there would have to be a centralized team or organization that would monitor the inflation fee, which goes against the very fundaments of why Bitcoin became so popular in the first place. In theory, it would be better to have a small maintained fee structure, but that would require consensus, which we cannot even get from the devs to increase the size of the mempool. Yeah, this is more than likely not going to happen bud.

Jake_Shannen

jr. member

Activity: 70

Merit: 1

This has been one of the current emphasized issues of BTC right now since other cryptocurrencies do have a low and reasonable transaction fee.

Bobby park

member

Activity: 546

Merit: 24

Quote from: jyakulis on January 05, 2018, 04:57:33 PM

Why can't the devs just make the transaction fees free unless you want want to prioritize speed and add like a 0.25% yearly inflation as the block reward post 21 million?

It seems it would make the bitcoin more spendable. Huh

I think it is pityful in part of miners if their is no payment in their services. In order for a transaction to be processed and put in a blockchain, miners are the makers of blocks. It is hard for the miners to use current and effort without payment. So I think that is the purpose of fees. To ensure that everyone should be paid.

jyakulis

sr. member

Activity: 469

Merit: 250

J

Quote from: error08 on January 05, 2018, 05:20:01 PM

Core developers can not just change the nodes because they want, don't you see it takes years to implement segwit? which seems useless due to most platforms are not using it. You should know better why we have to pay fee, because bitcoin require miners to solve the blocks and it's not easy as you need ASICs which takes lots of money. No one want to mine bitcoin if they are not paid, Satoshi Nakamoto has made the nodes works this way to ensure bitcoin's environment could run and last as long as possible.

I SHOULD know more than anyone Roll Eyes

Yeah the fees are there because after 21 million there would be nothing to incentivize miners. Hence why I'm saying kill the fees and trade it for VERY MINOR inflation to make it more spendable.

error08

hero member

Activity: 1036

Merit: 514

Core developers can not just change the nodes because they want, don't you see it takes years to implement segwit? which seems useless due to most platforms are not using it. You should know better why we have to pay fee, because bitcoin require miners to solve the blocks and it's not easy as you need ASICs which takes lots of money. No one want to mine bitcoin if they are not paid, Satoshi Nakamoto has made the nodes works this way to ensure bitcoin's environment could run and last as long as possible.

jyakulis

sr. member

Activity: 469

Merit: 250

J

Quote from: Emoclaw on January 05, 2018, 05:02:20 PM

Quote from: jyakulis on January 05, 2018, 04:57:33 PM

1 Why can't the devs just make the transaction fees free unless you want want to prioritize speed and 2 add like a 0.25% yearly inflation as the block reward post 21 million?

It seems it would make the bitcoin more spendable. Huh

1. Technically you can choose to not pay any fees. Obviously no wallet allows you to do this because the transaction will never confirm but it's feasible, devs don't have to do it.
2. Not possible. Such a change would go against the fundamentals of Bitcoin and wouldn't have any support.

gold slightly inflates every year. It would be very miner. Far less than typical gdp growth...

Emoclaw

sr. member

Activity: 420

Merit: 251

Quote from: jyakulis on January 05, 2018, 04:57:33 PM

1 Why can't the devs just make the transaction fees free unless you want want to prioritize speed and 2 add like a 0.25% yearly inflation as the block reward post 21 million?

It seems it would make the bitcoin more spendable. Huh

1. Technically you can choose to not pay any fees. Obviously no wallet allows you to do this because the transaction will never confirm but it's feasible, devs don't have to do it.
2. Not possible. Such a change would go against the fundamentals of Bitcoin and wouldn't have any support.

jyakulis

sr. member

Activity: 469

Merit: 250

J

Why can't the devs just make the transaction fees free unless you want want to prioritize speed and add like a 0.25% yearly inflation as the block reward post 21 million?

It seems it would make the bitcoin more spendable. Huh

Topic: Fee Issues - page 2. (Read 191 times)