Topic: Fee-less cryptocurrencies...Are they the future? - page 4. (Read 735 times)
Theoretically it is a good idea, but if there is really no expense, it becomes impossible to maintain the structure of the system: it is a service that has costs, and who offers it must be able to earn something, otherwise it fails.
Fee less projects is like telling developers to work for free, there is no such thing as free in this world, if you come across any project claiming their project is zero transaction fee you need to be extremely careful, i haven't seen any that is legit, its all lies
no cost is good, but I don't think that's the right thing. blockchain costs money because that's how it works. no cost will only benefit momentarily, but for the long term it's not good. there will be many spam transactions in the network, if no cost. consequently the transaction takes a long time.
It's possible to have a fee-less cryptocurrency. And right now it is happening. Some crypto like EOS doesn't have that much fee as of now. I just don't know if it is possible to make a fee-less on bitcoin. Although there is something we called LN or Lightning Network that made it possible but not fee-less it is less fee for transactions.
Bitcoin won't survive if transactions are fee less just imagine the amount of transaction being spammed if there are no fees. If Bitcoin becomes fee less it needs to be done somewhere else (offchain) which is possible already but the negative thing to offchain transactions is that it's only limited to one or two services and you're giving up decentralization.
Personally I have never used a fee-less cryptocurrency and I don't think they are viable. Proof-Of-Work and Proof-of-Stake algorithms have been the most successful in the market so far. And that's because the 'miners' aka block validators get incentivised in some form. Bitcoin is the best example for Proof-of-Work and Ethereum for PoS. To this present date I am not aware of any other algorithm that had even comparable results to these ones.
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).
Bitcoin and other PoW cryptocurrencies have transaction fees with a reason. Other "cryptocurrencies" or tokens have different structure and because of that other flaws. You pay no fees when using Secondlife Lindens. But would be so silly to compare Lindens with Bitcoin.
It's possible to have a fee-less cryptocurrency. And right now it is happening. Some crypto like EOS doesn't have that much fee as of now. I just don't know if it is possible to make a fee-less on bitcoin. Although there is something we called LN or Lightning Network that made it possible but not fee-less it is less fee for transactions.
I cannot understand how a network can function without any fees? At least, they need funds to keep developing their product, do marketing, promotional offers and much more. Projects without any fee do not live long.
In my opinion fee, less cryptocurrency will not do much if not for the people behind them, I guess if not for their proper launch in the market they will end up like another shit coin, I do believe that many individuals are attracted with their fee less cryptocurrency but how can they maintain such things if they will just offer lesser fee, I guess some will be curious on how they maintain such thing, and I think that lesser fee and not fee less is their implication on their coins, If they don't have fees at all they will just end up like a shit coin because they will have a difficult time maintaining it because of the financial needs a project to be maintain.
Less fee's doesn't mean that the coins are legit. There is a lot of projects that got dumped before. Obviously, we wanted to see this kind of crypto, absolutely 0 fees. However, we all know that this is a business and in order to survived, developers or the people behind a certain project will have some form on incentives, so I doubt that it will be the future. They can to get some kind of money for maintenance otherwise it will simply die. And for those coins, that don't have fees today, might include in the future. Maybe this is just marketing ploy for them to attract user based but eventually fees are going to be introduced, IMHO.
You are right. This is a big business empire. We use services, so naturally, we are charged. Moreover, the fees charged are returned to us as users, we will get appropriate services according to the fees set. What does it mean if it's free but the service doesn't match expectations?I don't know if its possible. Perhaps they are not fee-dependent in their operations. There might be some other sources of income. But they could actually reduce fees to the minimum to be more realistic about it. A very low fee is actually more than enough to support their operation for as long as there are many users. That is in fact what the Lightning Network brings, very small to zero amount of fees.
Obviously, we wanted to see this kind of crypto, absolutely 0 fees. However, we all know that this is a business and in order to survived, developers or the people behind a certain project will have some form on incentives, so I doubt that it will be the future. They can to get some kind of money for maintenance otherwise it will simply die. And for those coins, that don't have fees today, might include in the future. Maybe this is just marketing ploy for them to attract user based but eventually fees are going to be introduced, IMHO.
You are right. This is a big business empire. We use services, so naturally, we are charged. Moreover, the fees charged are returned to us as users, we will get appropriate services according to the fees set. What does it mean if it's free but the service doesn't match expectations? 
Obviously, we wanted to see this kind of crypto, absolutely 0 fees. However, we all know that this is a business and in order to survived, developers or the people behind a certain project will have some form on incentives, so I doubt that it will be the future. They can to get some kind of money for maintenance otherwise it will simply die. And for those coins, that don't have fees today, might include in the future. Maybe this is just marketing ploy for them to attract user based but eventually fees are going to be introduced, IMHO.
Well,,, Fee is become one from many factors for a lot people to use the coins in daily transactions,,
So, i think the future of fee less cryptocurrencies will be bright mate
So, i think the future of fee less cryptocurrencies will be bright mate
Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? 
It supposed to be but sadly it won't prosper. Maintenance would be the main factor for their possible demise. Unless they created a platform where these cryptocurrency will be utilize to produce profit and make it to boom.
I always love freebies, free transaction included, and i guess most of us love it too.
So far, fees have been charged because we have used the services provided. What does it mean if it's fee-less but the service isn't optimal? many problems? a lot of interference? the process is long?
I prefer a standard fee for convenience and speed of transactions, but if there is a low cost with maximum speed, of course, anyone really wants it.
I prefer a standard fee for convenience and speed of transactions, but if there is a low cost with maximum speed, of course, anyone really wants it.
Yes if the fees is very cheap only then many users really will use this so if this will continue then this is really the future of cryptocurrency
Then i think crypto run for so long period of time like 10 years so we already in the future by that another thing even Bitcoin and Ethereum have high fees compare to other alts/tokens still they are useful and helpful
Then i think crypto run for so long period of time like 10 years so we already in the future by that another thing even Bitcoin and Ethereum have high fees compare to other alts/tokens still they are useful and helpful
In my opinion fee, less cryptocurrency will not do much if not for the people behind them, I guess if not for their proper launch in the market they will end up like another shit coin, I do believe that many individuals are attracted with their fee less cryptocurrency but how can they maintain such things if they will just offer lesser fee, I guess some will be curious on how they maintain such thing, and I think that lesser fee and not fee less is their implication on their coins, If they don't have fees at all they will just end up like a shit coin because they will have a difficult time maintaining it because of the financial needs a project to be maintain.
They are fast and all until the mass adoptin hits, the blockchain becoming so crowded and they will face scaling issues. Bitcoin back in the days used to be really fast and have a really cheap fees even so many people saying that bitcoin's fees is a lot cheaper than sending from paypal or bank but now that the blockchain is really crowded everything become slow and the fee sometimes rising up so much. Therefore, I won't say that they are the future until they have gone through the mass adoption and see whether there is a problem or not otherwise their blockchain will be left untested and could potentially have a problem when the mass adoption hits.
Low fees would be the ideal thing in the future. Just like your concern, miners will tend to shift to another cryptocurrency that will pay them for their efforts of confirming the transactions and if there's no incentive from that crypto through verification and confirmation, I doubt it that they will stay.
Fees are still needed but it doesn't have to be that expensive, fee less is an incentive but there's risk in it.
Fees are still needed but it doesn't have to be that expensive, fee less is an incentive but there's risk in it.
A cryptocurrency without fees can be attacked by spamming its network with a lot of small transactions, thereby overloading such network.
Fees are important from a security point of view, to make spam attacks too costly to initiate.
Fees are important from a security point of view, to make spam attacks too costly to initiate.
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