Fee-less cryptocurrencies...Are they the future? - page 3.

coin-investor

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Quote from: jessyj48 on October 04, 2019, 03:11:41 PM

Quote from: Abiky on October 04, 2019, 02:59:34 PM

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh

Nothing of such will prosper in crypto space, exchanges and new projects have to gain profits to sustain and push the project up to new steps to achieve success, i wonder how a project with zero fee will work, its impossible and if any project offers such its scam project

How can you say that NANO https://coinmarketcap.com/currencies/nano/ is in the 49th place, Eos and Steem had a huge market and volume and no one here says that they are a scam, only you posted that, you should go back and school yourself on the various and different algo, so your ignorance will not be exposed, we are in Cryptocurrency and developers are creating a better technology that offers a lot of option to the community.

Pearls Before Swine

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Quote from: Abiky on October 04, 2019, 02:59:34 PM

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum.

Yes!!! I understand the passion people have for bitcoin, I truly do. But when it comes to a discussion about its problems, everyone just seems to fall silent. And those problems are the fees, especially when the network is congested and confirmation times. Most altcoins have much lower fees and much faster confirmations and thus they function better as money (if you wanted to spend them and if anybody accepted them as payment). It is nice to hear an honest opinion about this.

Zero fee cryptos would be ideal, but I am more than happy with, say, dogecoin's fee which is usually 1 doge to send any amount. That is more than reasonable, especially compared to bitcoin when its price is at or above a mark like $10,000. At that point it starts getting very expensive and especially for small amounts.

crypoco

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Nothing is free, you can't find crypto with free fees, crypto is kind of transfer data, and any transfer data need a cost, in addition of mining of the crypto, ll this should make a cost

JCviggen

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Quote from: Aabcde on October 14, 2019, 06:00:12 AM

I think it might be possible. But not about the fee-less, but how the coin technology was built and its implementation. If you only rely on fee-less, it will not bring the best coins. But if fee-less can occur, I think there will be a time to raise fees for various reasons later.

the lack of commissions in coins is normal, but not for everyone. you need to understand that the tokens that are created, for example for internal use to pay for services inside any platform, should not take a commission for payment

Zeke_23

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Quote from: ?? on ??

Quote from: Abiky on October 04, 2019, 02:59:34 PM

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh

Fee less crypto is not the only factor that will attract investors to invest. But the transaction speed and the security of the coins is also major factors that make a coin is much more valuable.
I think there are also many fee less coin such as LTC, i usually use it for transfering between exchange and the fee is really low

It will be just a dream to think of a fee less cryptocurrency transactions. Fees have been collected by miners to process block. If fees less transaction will be implemented, miners will be out of the field and transactions in block will be doomed. Transaction fees are already included since then, there will be a lot of changes and everything will be hard to process if fee less crypto transaction will happen.

Kyraishi

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Could be possible, but it'll be a lot of weird work for the miners since they'd only be getting block rewards. What would happen if limited supply runs out? Miners just die then?

If it wouldn't be a limited supply it'll be a lot worse then just paying some small fees to be honest.

It'll be convenient, and revolutionary for the fiat and crypto industry, let's see if we see some in the future.

febriyana

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I think less or no fee cryptocurrency like short term project.
We can see for example exchanges who give no fee, less than 2 year will get down nowhere. Also in business no fee or less fee also a problem for maintenance project.
So for me no future for that. Bitcoin is always increase their fees, because i know basicly they respect the miner who hardwork with difficulty increased.
If no fee or less fee, people prefer spamming transaction, that is like Bitcoin in first time where blockchain get overload. Maybe less / no fee cryptocurrency is temporary rules, they also will increase the fee, if not please take caution.

Red-Apple

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i think they are mostly a short term hyped up topics specially when bitcoin transaction fees rise up a little bit. the main problem is the attack surfaces that these "fee-less" cryptocurrencies can open up. for example anybody with the smallest amount of that coin could easily spam the network with millions of transactions per second without any cost whatsoever.
those with a blockchain will experience a huge bloat because of this, i have seen some mitigate that but they still can not do anything about the DOS attack which this type of spam can cause in a network.

Aabcde

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I think it might be possible. But not about the fee-less, but how the coin technology was built and its implementation. If you only rely on fee-less, it will not bring the best coins. But if fee-less can occur, I think there will be a time to raise fees for various reasons later.

ongkok87

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Quote from: confreslamp on October 14, 2019, 05:44:13 AM

I cannot believe that such a scheme can last long, first of all, everything needs funding, especially crypto related projects and we all know that without enough funds, no project can survive on such a hard and competitive market.

The fee intended here is for delivery, is it really possible that in the future it will be free. because until now every time we send Crypto must be burdened on shipping costs. no problem projeck requires large or small funds. but if making a project, of course, must have a large fund

confreslamp

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I cannot believe that such a scheme can last long, first of all, everything needs funding, especially crypto related projects and we all know that without enough funds, no project can survive on such a hard and competitive market.

Perfect35

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Users will at all time prefer to use fee less crypt I currencies, no minding how it affects other. Also, those who designed it know where and how to get their remuneration. So there is nothing to worry about. Also, they already know why they made it fee less. In which one of the reasons should be to attract more users. If that is the case, then it is better.

asus09

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I like if have currency without fee at the next years where we can use some currency for sending our assets to other wallet without paying fees, but we need faster transaction although sending without use fee because is most important way how to increase of bitcoin and altcoin advantage of next year, using EOS without fee I think best solution of you want sent your bitcoin and convert first become EOS balance and then sent to other wallet do you want.

Rhaizan

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Quote from: Samayuki on October 14, 2019, 02:09:01 AM

You have to give something to gain something back in return, developers have to earn back for the service they provide users wordwide so nothing is for free in this world, if a project is doing free work go back and recheck very well because that is impossible, and of they do free services like zero fee the project won't last long

agree that right word to use use is less-fee there many crypto now that more cheaper in terms of transaction fee . eth and xrp as less fee compared to btc.

gaston castano

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of course it is a progress we know that BTC has a very large transaction every day that's why sometimes it takes more time to send it, and also the blocks that are generated after mining have been a lot since the first time it was released.
I think a coin with a low fee if you already have a lot of transactions in the future will have a heavy burden as well as a rather long delivery time, because many ALTs are still running 1 or 2 years so that their transactions are relatively small.

kushti

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It is totally unrealistic to store something on thousands of computers around the globe for free. Even more, current fees are not realistic in their structure, as you can put an object to the state of the system (UTXO set in Bitcoin / "World state" in Ethereum) forever for free. The problem could be solved with storage rent, as done in Ergo. A paper on composite fees: https://fc18.ifca.ai/bitcoin/papers/bitcoin18-final18.pdf

Samayuki

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You have to give something to gain something back in return, developers have to earn back for the service they provide users wordwide so nothing is for free in this world, if a project is doing free work go back and recheck very well because that is impossible, and of they do free services like zero fee the project won't last long

cahbagus555

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Quote from: Abiky on October 04, 2019, 02:59:34 PM

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh

Small transaction costs might be an option as an investment but in my opinion not the biggest factor. There are some coins that have small transaction costs but because they do not have a good product and are also not in demand by investors, the marketcap value is not too large

senin

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In order for a certain cryptocurrency to work and improve, for this need to use a certain amount of money. If transactions are free, then other types of services must be paid. However, on the other hand, competition between cryptocurrencies will inevitably lead to a decrease in transaction payments. Over time, the optimal option will inevitably be chosen.

Abiky

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Quote from: rosezionjohn on October 05, 2019, 12:11:21 AM

Using the same coins as example, we should realize by now that it's not the future of cryptocurrency market. They have been here for a while now and "enthusiasts" aren't interested mainly on the fee-less feature. Heck, they would even prefer xrp, doge, or ltc for moving their coins despite having minimal fees.

There doesn't seem to be much interest into fee-less cryptocurrencies, despite their benefits. Perhaps, it's because many crypto enthusiasts are not fond of zero incentives within a Blockchain network. Fee-less cryptocurrencies are good for the average person, but not for those looking to make a living out of them. This applies specifically to miners and delegates. Sometimes, I wonder if EOS' fee-less structure is sustainable for the long term. Block Producers (or delegates) are earning from transactions made on the EOS blockchain, but they could've earned more with fees. While Bitcoin has high fees, it has a sustainable model that will allow miners to continue supporting the blockchain for the foreseeable future.

Nonetheless, I guess that we'll have to see what happens over time since fee-less cryptocurrencies are just starting to blossom. There may only be a handful of cryptos like EOS, Steem, and Nano. But the list of fee-less cryptocurrencies will continue to expand if people show enough interest into them. Personally, I find fee-less cryptocurrencies extremely convenient for sending money worldwide for free. But their lack of mainstream adoption, will defeat the whole purpose in my own opinion.

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