Fees - I Think We All Been Scammed - page 2.

williamuk

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Quote from: panju1 on July 19, 2017, 09:45:50 AM

Quote from: Lucky7btc on July 19, 2017, 09:03:27 AM

A few months ago there was this bit craze about fees and how fees was outrageous. People were chasing fees just to send the smallest of bitcoins. Then several threads start appearing about using other currencies like LTC, ETH, DOGE, etc. I've noticed for the last 2 weeks I have been able to send btc with only a .07 cent fee tied to it and they were getting confirmed in only a few blocks. Whereas If i tried this mess a few months ago it would sit for hrs if not days. I think those behind the scene were scamming us and controlling the flow of inputs just to fu^k us over!

Some would say that people just got tired of trying to transfer value through bitcoins and have just shifted to alts. Others would say it was a spam attack to force a scaling solution. In any case, we benefit now from lower fees.

Lower fees yes, but the question I ask myself is how badly was bitcoin hurt by this, can it's credibility recover.

audaciousbeing

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Quote from: Lucky7btc on July 19, 2017, 09:03:27 AM

A few months ago there was this bit craze about fees and how fees was outrageous. People were chasing fees just to send the smallest of bitcoins. Then several threads start appearing about using other currencies like LTC, ETH, DOGE, etc. I've noticed for the last 2 weeks I have been able to send btc with only a .07 cent fee tied to it and they were getting confirmed in only a few blocks. Whereas If i tried this mess a few months ago it would sit for hrs if not days. I think those behind the scene were scamming us and controlling the flow of inputs just to fu^k us over!

Its actually something that calls for concern because even now I tried to check the price and I also found out that has reduced drastically compared to few months ago but we cannot all attribute it to scammers considering that the activities surrounding bitcoin these days has reduced due to the various uncertainty and release from the exchange site and a recovery back from an all time low in a while. This could reduce the traffic on the network there by making low fees confirms faster.

panju1

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Quote from: Lucky7btc on July 19, 2017, 09:03:27 AM

A few months ago there was this bit craze about fees and how fees was outrageous. People were chasing fees just to send the smallest of bitcoins. Then several threads start appearing about using other currencies like LTC, ETH, DOGE, etc. I've noticed for the last 2 weeks I have been able to send btc with only a .07 cent fee tied to it and they were getting confirmed in only a few blocks. Whereas If i tried this mess a few months ago it would sit for hrs if not days. I think those behind the scene were scamming us and controlling the flow of inputs just to fu^k us over!

Some would say that people just got tired of trying to transfer value through bitcoins and have just shifted to alts. Others would say it was a spam attack to force a scaling solution. In any case, we benefit now from lower fees.

Ayers

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Quote from: jt byte on July 19, 2017, 09:39:03 AM

I noticed this too. I sent a transaction yesterday with a 0.00002btc(which is $0.04) by accident and did not notice it until it was too late.
To my surprise when I when to the via accelerator site to so called push the transaction to my surprise it said it was confirmed already.

I do think the miners fees are in somewhat in league with each other and these transactions can be sent without much if anything but $0.02 worth of bitcoin if you wanted to put on as the transaction fee if you wanted it to and they will confirm within 20 minutes if not sooner.

i still see very high fee, where do you see such low fee? fee is in range of 0.0005 at least if not more, but some miners can confirm lower fee transaction, from time to time, but perhaps right now that the amount tx was reduced because of the dump and the chain split, miners are more permissive

jt byte

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I noticed this too. I sent a transaction yesterday with a 0.00002btc(which is $0.04) by accident and did not notice it until it was too late.
To my surprise when I when to the via accelerator site to so called push the transaction to my surprise it said it was confirmed already.

I do think the miners fees are in somewhat in league with each other and these transactions can be sent without much if anything but $0.02 worth of bitcoin if you wanted to put on as the transaction fee if you wanted it to and they will confirm within 20 minutes if not sooner.

williamuk

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Quote from: Lucky7btc on July 19, 2017, 09:03:27 AM

A few months ago there was this bit craze about fees and how fees was outrageous. People were chasing fees just to send the smallest of bitcoins. Then several threads start appearing about using other currencies like LTC, ETH, DOGE, etc. I've noticed for the last 2 weeks I have been able to send btc with only a .07 cent fee tied to it and they were getting confirmed in only a few blocks. Whereas If i tried this mess a few months ago it would sit for hrs if not days. I think those behind the scene were scamming us and controlling the flow of inputs just to fu^k us over!

A few months ago the mainstream media started talking about bitcoin, bitcoin usage skyrocketed. It'was meant to be bitcoin's moonshot but it didn't have the capacity to deal with those new users hence the huge fees and long delays.

Bitcoin fell apart and those new people left, unimpressed.

Result: lower fees, no more jams and a huge fail for the credibility of bitcoin and it's development community

Edit to add: the spam allegations are misdirections coming from the usual corner

NeuroticFish

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Quote from: Lucky7btc on July 19, 2017, 09:03:27 AM

A few months ago there was this bit craze about fees and how fees was outrageous. People were chasing fees just to send the smallest of bitcoins. Then several threads start appearing about using other currencies like LTC, ETH, DOGE, etc. I've noticed for the last 2 weeks I have been able to send btc with only a .07 cent fee tied to it and they were getting confirmed in only a few blocks. Whereas If i tried this mess a few months ago it would sit for hrs if not days. I think those behind the scene were scamming us and controlling the flow of inputs just to fu^k us over!

Yes, the fees were very high and while some of us said that's a spam attack going on, many said it's not the case.
But the target was not some dollars here and there really, the big prize was the future of Bitcoin. If you remember, the big SegWit vs BU war was flourishing those days too.
We'll see until December if "we are getting scammed" or not. Until then we should know if we really have more forks, the markets should get more stable (on a good or bad price for Bitcoin, we'll see). I hope that we don't let ourselves "scammed" and Bitcoin will evolve in the right direction - as features and as price too.

Lucky7btc

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A few months ago there was this bit craze about fees and how fees was outrageous. People were chasing fees just to send the smallest of bitcoins. Then several threads start appearing about using other currencies like LTC, ETH, DOGE, etc. I've noticed for the last 2 weeks I have been able to send btc with only a .07 cent fee tied to it and they were getting confirmed in only a few blocks. Whereas If i tried this mess a few months ago it would sit for hrs if not days. I think those behind the scene were scamming us and controlling the flow of inputs just to fu^k us over!

Topic: Fees - I Think We All Been Scammed - page 2. (Read 1024 times)