Topic: Fee-less cryptocurrencies...Are they the future? - page 2. (Read 735 times)

Usually, the fee to pay the miner in that case. Wherever it is there must be a cost though the slightest and the points are certainly blockchain technology is the future of the crypto industry.
Where transactions are more transparent, secure, inexpensive, and efficient. Hopefully in the future many countries that adopt the blockchain for their payment.

Someone has to maintain the platform. It is easy to say if transactions are made in a small group of people. But when it comes to world wide transactions and world wide used it is a different story now. Though it is convenient and is economical for individual because you could save a lot of money from fees but people who are working behind such platforms ain't just made for free labor. I don't think it would go for mass adoption.

Cryptocurrencies are rapidly heading towards worldwide adoption and it would be almost useless if we are having to pay transaction fees for every little purchase we make, that would ensure that most people would prefer electronic payments over cryptocurrency payments because it would be much cheaper which defeats the purpose of cryptocurrency in the first place, although I don't think that the solution we are looking for us EOS or Nano. I don't know much about Nano but EOS is partly centralised and judging by the spam attack that happened recently, it seems it can be easily manipulated too.

At present cryptocurrencies are difficult to compete with paper money, because paper money does not charge transaction fees for each transaction.  Imagine if we shop at supermarkets when paying buyers are burdened by taxes, if using cryptocurrencies the buyer is subject to taxes and transaction fees.  In my opinion, this is burdening the user. If cryptocurrencies want to be more popular and widely adopted, transaction costs must be revolutionized to become free transaction fee.

That's certainly true, mate. I believe that a fee-less cryptocurrency cannot be sustainable for the foreseeable future. Miners or delegates largely depend on fees (in addition to the block reward) to sustain the underlying blockchain network. Without fees, there won't be an additional incentive to keep the network alive. The miner or delegate could simply choose another Blockchain of his choice that charges a fee per transaction. It's no wonder why Bitcoin has been so successful these days, despite being relatively expensive in fees for the end user.

Still though, fee-less cryptocurrencies are experimental. They could continue to improve over time as they see fit, in order to bring a sustainable economy that's bound to last for many generations. Cryptocurrencies like EOS, Steem, IOTA, and Nano could find their place in the market if there's enough demand for fee-less transactions. After all, "free" transactions would encourage people to send micropayments worldwide improving the crypto economy. If fee-less cryptocurrencies become a big hit, then they could become true rivals of traditional cryptocurrencies like Bitcoin and Ethereum.

Nonetheless, time will tell us if the idea of a fee-less system, will truly survive or not. It may be too early to tell if cryptocurrencies using a fee-less model will have a bright future ahead of them. Everything will depend on mainstream adoption without a doubt. Just my opinion

Cryptocurrency have many method for this and Proof of Stake is one of them so a crypto doesn't necessarily need to provide for miner because using PoS only require people who stakes and it could rewarded by using the block reward generated from the unmined cryptos that is reserved for future. However I also agree that fee-less cryptocurrency is not a way to go because blockchain system is basically p2p and there is someone that must be rewarded if not from the block reward it must come from fee.

Many big exchanges exits till date because of the money they make from transaction fees, i wonder how projects will survive without one, its not advisable to invest in such project because this type of promise will never come to reality and even if they start successfully they will end up hurting you

You can see how the developers of those coins are really not paying much attention to those coins because they have no gain on them, many people you see here in cryptocurrency really wants to make profit, and if there is truly a fee less coin, then I don't think such coin will grow. Look at the way that we have decentralized exchanges, but people still left those decentralized exchanges to go for centralized exchanges and I think that is the way people actually want.

Anyone that is creating a fee less currency now is only wasting its time as not many people would be paying attention to it, people will still prefer to use the most reliable and stable coin in the market  which is bitcoin, which I also prefer to use more than all these currencies that is being mentioned.

I think that you have to motivate miners, block producers to manage the blockchain, that works when we talk about the blockchain. I know, that there are alternatives like DAG technology used by IOTA where fees are not paid, but that is not a blockchain, right?

Fee less crypto would certainly come to storm the market. The coin that could be used for day to day transaction between customers and merchants should have a zero transaction fees. We can easily achieve this by implementing new ways to benefit the nodes. Maybe minting new coins as reward for the nodes could be an option. If crypto is to be success, it should be user friendly. The volatile nature of price and fees are one of the reason why people don't like crypto.

That's a bit of a useless post, exchanges don't make the majority of their income off overcharging the customer for a withdraw, they make most of their funds off trading fees, and if there where new popular, fee-less coins, exchanges would leap over each other to list them.

And they could always charge a sperate fee for the fee-less transaction, label it as a "processing fee" if they are greedy.

A coin like this, as long as they were able to be charged-back, it would make small transactions like buying a coffee in person using blockchain technology a lot easier.

If the token is decentralized, it is not possible for every transaction to not be charged. How can miners benefit if there is no transaction fee in the network? If we talk in the case of coins or centralized tokens, transactions can be made free. But surely it will gradually incur transaction costs even though the amount is small.

Is fee less possible? I don't think so. Miners will have to get their rewards. I think a very cheap transaction fee would be possible and this might attract investors. People are avoiding transacting through bitcoin when the price is too high due to the transaction fee. If this can be achieved in the future, I guess it would attract a lot of investors.

yes of course it will not eliminate the costs incurred, I mean it might make more sense if the costs incurred are cheaper and do not eliminate the costs charged by each exchange. of course we will benefit because we can use the relevant exchange services and vice versa, the exchange can take advantage of users who make withdrawals because they are charged by costs that must be incurred.

I personally do not believe in fearless anything and subscribe to the idea that you get what you pay for. You pay people for a service it is just the way it works. Everything has a fee. Everyone needs their cut.
Paying a fee normally ensures better quality service and if it doesn't it should.


I think it is a silly idea. People cannot expect to get things for free. How can you expect to get a service for absolutely free? How would that work? Even if it did work it would still be better to have fees to maintain the health of the currency. People want their piece of the pie and without fees there is no pie.

I guess that fee-less cryptocurrencies would somehow contribute towards the decentralized economy. But they might prove to be a lesser attractive option to miners or delegates, than other cryptocurencies which charge a fee per each transaction performed on the Blockchain. Sometimes I wonder if EOS, Steem, Nano, IOTA, and other fee-less cryptocurrencies will survive for a long time because of the lack of additional incentives via fees. Dogecoin may be a cryptocurrency which charges fees per transaction (like most cryptos out there on the market), but it's inexpensive and highly accessible to everyone. While the fees earned by miners might not be that much in terms of USD, they surely accumulate over time.

Despite this, I believe that there's still a future for fee-less cryptocurrencies if they manage to retain miners or delegates to support their Blockchain networks for a long time. In a world where fast transactions and low costs are a priority, fee-less cryptocurrencies seem to be the ideal solution for micropayments. Time will tell us what will be the fate of these cryptocurrencies as more people join the space. Just my thoughts

Of course. In the cryptocurrency market, low fees are one aspect that is highlighted to attract investors and traders. And this can be a potential niche. With a cheaper fee, but still able to maintain the quality, safety, and speed of delivery will certainly increase interest.Cheaper fees, not without fees. We all know that the fees charged by an exchange are costs that we use because we have used the exchange service yeah a kind of symbiotic mutualism.

if there are no costs incurred when making a transaction, there will be no exchange able to benefit from the person making the withdrawal. it is likely that the project will not last long because various exchanges will surely benefit from fees charged to users to make withdrawals. would make sense if the costs incurred were cheaper than other types of tokens

Fee-less will never work, the technology needs to be increased insanely high, think about it if there are enough people using it that means we are pressuring the blockchain to move faster and bigger each and every day, eventually it will crack and that is what we do not want because blockchain needs to be able to handle everything smoothly without a problem and if possible quite fast as well.

Right now, we have bitcoin which is both slow (compared to a credit card payment for example) and also expensive (well again for credit card payment) so we need to get better for sure and the future will be better with higher tech but that doesn't mean it will be free, it will take some time and even after years it will never be zero, it is just not sustainable to make it free.

The cryptocurrency will not be able to survive without commissions, they are no longer large compared to bank ones, it will also be impossible to add new coins without a reward, the cryptocurrency market will not survive without a commission