high fees, bitcoin or ethereum! | Bitcointalksearch.org

rickadone

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Quote from: Qunenin on May 21, 2017, 01:48:12 PM

Quote from: Money Maker Shaker on May 21, 2017, 12:04:42 PM

when looking at below picture remember these:

bitcoin apart from increased adoption has been under a heavy spam attack.
there is no block size problem in ethereum.
number of etehreum transactions are ~0.3 bitcoin.
there are lot of transaction in bitcoin mempool competing and causing the fee rise.
there is no backlog in ethereum!

[im g]https://i.imgur.com/BXL45zJ.png[/img]

just for fun:
Buterin: "bitcoin transactions cost five cents.... it is absurd"
fast forward to 2017: ethereum fees are 50 cents! and it is not even adopted by any real thing!

I still dont get it why you people are so much concern about the fee. Just compare Bitcoin or ETH with fiat and you will realize how good the Bitcoin is with no taxes, no high fee for sending money outside of country, easy spending online and no more hassle of paper work required in order to get a credit card for online spending.

Good points about the fees there. They are high but they are nothing like the fees for fiat for sending money across countries not to mention like you said, taxes.
Anyway I see bitcoin more as a method of storing wealth than a currency for transaction for the most part. But regardless the fees are not insane even though they are higher than usual.

clickerz

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Backed.Finance

I think it is still btc that has higher fees but as of now, ETH is also soaring and fees equivalent to btc is also perpendicularly proportional to bitcoin. So, eth is also joining the race to have higher fees.

CryptoBry

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I don't understand you guys. Why not have both when you are not forbidden to own any cryptocurrency you can have? I love Bitcoin but it does not mean I have to restrict myself to it...in fact in trading we jump from Bitcoin to altcoins then to Bitcoin...to us it is just normal. Calling one a scam when it is already recognized and accepted is already too late, I think.

cellard

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Ethereum is a scam due proof of vitalik, I don't care how high it goes. Even if it goes to $1000, it doesn't matter, it's a scam and everyone knows it. Only reason this coin keeps pumping is all those corporate brands jumping into the bandwagon.

Bitcoin remains the best coin, the fee problem is a temporal one.

audaciousbeing

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Quote from: Money Maker Shaker on May 21, 2017, 12:04:42 PM

when looking at below picture remember these:

bitcoin apart from increased adoption has been under a heavy spam attack.
there is no block size problem in ethereum.
number of etehreum transactions are ~0.3 bitcoin.
there are lot of transaction in bitcoin mempool competing and causing the fee rise.
there is no backlog in ethereum!

just for fun:
Buterin: "bitcoin transactions cost five cents.... it is absurd"
fast forward to 2017: ethereum fees are 50 cents! and it is not even adopted by any real thing!

When comparing two items it is only right to compare two similar things together with the same characteristics which in his case is not right. Comparing btc with ETH and making conclusion is only wrong but uninformed it is when both have been able to get to the same volume or users couple with price that is when the comparison can be an informed one.

Dimelord

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Quote from: susila_bai on May 21, 2017, 01:55:01 PM

Quote from: 25hashcoin on May 21, 2017, 01:50:46 PM

Quote from: Qunenin on May 21, 2017, 01:48:12 PM

Quote from: Money Maker Shaker on May 21, 2017, 12:04:42 PM

when looking at below picture remember these:

bitcoin apart from increased adoption has been under a heavy spam attack.
there is no block size problem in ethereum.
number of etehreum transactions are ~0.3 bitcoin.
there are lot of transaction in bitcoin mempool competing and causing the fee rise.
there is no backlog in ethereum!

just for fun:
Buterin: "bitcoin transactions cost five cents.... it is absurd"
fast forward to 2017: ethereum fees are 50 cents! and it is not even adopted by any real thing!

I still dont get it why you people are so much concern about the fee. Just compare Bitcoin or ETH with fiat and you will realize how good the Bitcoin is with no taxes, no high fee for sending money outside of country, easy spending online and no more hassle of paper work required in order to get a credit card for online spending.

I think you missed the point....this is about how butterin and his followers are hypocritical and how ETH scales 10x worse than bitcoin despite ETHkids pumping ETH as havinging superior scaling when it's actually way worse. As OP said....fees are already getting higher and not a damn person uses ETH for anything other than speculating. Pathetic joke.

ETH is getting famous due to the more developers are preparing their projects on ETH platform due to that ETH is growing famous but still it cannot compete with Bitcoin. even if the transaction fees is compared still when comparing to fiat currency the fees of bitcoin is cheaper then ETH FEES

Definitely,people compare bitcoin's transaction fee with that of fiat and not with Altcoins.Its still economical when compared to fiat fee.Bitcoin has more salient features than ethereum for mass adoption.You could not even buy any goods online using ethereum.

qurshmdkgd

newbie

Activity: 8

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"average" fee in eth is ~$0.50 because some transactions for expensive smart contracts are high.

the median eth fee for a transactions is roughly ~$0.04

it's also way more decentralized than bitcoin

owlcatz

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Merit: 1959

The bitcoin fees are ridiculous lately. This is why I prefer XMR/Monero. Why wait an hour or more for a conf when you can wait 10 minutes? Tongue

john2231

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Quote from: emezh10 on May 22, 2017, 06:25:00 PM

I guess bitcoin have a higher fees than the ethereum because of the bitcoin rapidly increasing price in the market no doubt the bitcoin fees would also increase in the market but i guess it is just a little difference in the fees in both croptocurrency and they are almost the same but it depends in the transaction made.

That was a big problem honestly every time the price of bitcoin increasing the fee for every transaction was increase how about other newbie people or long time holders holding bitcoins and transacting small amount of bitcoin but they are paying a high fee?
I hope that they will fix this issue instead they have their own fix payment for the fee its really getting bigger that hoping it will not be the same that we can almost pay 25% as a fee..
Well if we compare them into ethereum its still small fee when transacting because its still a small altcoin not the same as bitcoin that many people are using it.

emezh10

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I guess bitcoin have a higher fees than the ethereum because of the bitcoin rapidly increasing price in the market no doubt the bitcoin fees would also increase in the market but i guess it is just a little difference in the fees in both croptocurrency and they are almost the same but it depends in the transaction made.

freedomno1

legendary

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Merit: 1090

Learning the troll avoidance button :)

Fees depend on usage to an extent and capacity, so how we interpret that is up for discussion.
Either way goes with a neutral route this time i'll be the well everyone else called Bitcoin a scam at some point and beat it up so it's just getting it's initiation with punches and scrapes from the big bro Bitcoin little Eth punk ^^.

Although that is in part because that is the minimum gas price and going lower than that means the miner will stop processing the transaction, revert any changes it made, but still include it in the blockchain as a "failed transaction", collecting the fees for it so a forced minimum.
https://ethereum.stackexchange.com/questions/3/what-is-gas-and-transaction-fee-in-ethereum

DoublerHunter

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I will say that ethereum has a higher fee compare to bitcoin because the fee in ethereum even it is just getting started was already around 0.001 while in bitcoin when it is new it already charges up to 0.0002 for each transaction. Ethereum is nothing to bitcoin if we compare especially in fees.

nuela

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Blocklancer - Freelance on the Blockchain

This bitcoin is unpredictable because of its peer-to peer payments so what will happen next we do not know and its consequences.

Money Maker Shaker

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Quote from: xypos on May 22, 2017, 01:34:54 AM

I'm using dogecoin and ethereum as alternatives now to send micropayments across the globe.

i dare you to share at least 3 transaction that you made on each of these networks with proof that you own the keys and didn't just copy some random tx from their blockchain explorers.
and proof that it is not to an altcoin exchange or in an attempt to participate in an ICO.

xypos

sr. member

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Merit: 250

The fee situation in bitcoin has certainly gone out of hand. I mean I'm having to pay like 0.002 BTC in transaction fees per transaction because my wallet has a lot of inputs and I used to only pay 0.0001 BTC and still get a transaction confirmed guaranteed in the first block. And plus the bitcoin price was only $100 back then.But that was the good old days before bitcoin price skyrocketed and so did the fees.

I'm using dogecoin and ethereum as alternatives now to send micropayments across the globe. It's simply not worth it at this point to be using bitcoin as if you send a few dollars almost all of that will be eaten up by transaction fees.

But for big transactions i'd still go with bitcoin, because obviously it is more stable than ethereum, it's more trusted than ethereum, I believe more in bitcoin and i sort of agree with Lauda with the "centralised shitcoin" case with Ethereum although that's probably not the most appropriate word choices, and the spreads are lower on markets than ethereum generally when traded against fiats.

Fraxinus

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Cryptocurrencies as a whole offer really different possibilities and it's not right to compare BTC to other cryptos.Although they areh all essentially a currency they target different solutions and implement various technologies.The high fees at the moment are really something which has to be addressed.Also the confirmation time.I have just had a transaction confirmed and it was over a day.These things have to be solved otherwise that will be hindering BTC's developlment

Celsiuss

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Quote from: 25hashcoin on May 21, 2017, 01:41:16 PM

Ethereum is also an elaborate scam.

Care to explain?

Herbert2020

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whenever i say none of the existing altcoins can replace bitcoin ever, i am talking about these things!

people always love comparing altcoins with bitcoin and say ... is better than bitcoin because it can do such and such thing. and when you start arguing with them you can finally realize that they have never even used that ... in first place!

all these altcoins will show their real faces and problems associated with their protocol as soon as they become big. let some of these altcoins start getting some small traction and then lets see how they can handle a large number of transaction, heck lets see how they can handle years of being under different kinds of attack from media attack to spam attack on the network and on the nodes, miners etc!

but apparently everyone is only interested in how much profit they can gain so they keep saying ... is better.

Lauda

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Terminated.

You are going to find a lot of mindless shills pumping their shitcoin, or as is the case with ETH, a centralized bankster coin. Decentralized blockchains scale inefficiently. High fees are not a problem inherent to Bitcoin as a result of block scarcity an very high demand, but a problem inherent to the technology behind it.

Quote from: Lauda on May 21, 2017, 06:11:06 AM

Welcome to reality and stop shilling some centralized shitcoins.

Amph

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stay with bitcoin, ETH is more centralized than bitcoin will ever be, even so there are gpu mining there, it will go 100% pos soon, and we know how pos is bad and destroy every coin in the end

also ETH or any other coin is not accepted as a currency, which is the whole point of being a good currency, if it can't be used, i'm not interested in a just a pump and dump scheme

Topic: high fees, bitcoin or ethereum! (Read 1534 times)