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Topic: How much are you willing to pay in fees for a Bitcoin transaction? - page 3. (Read 6103 times)

hero member
Activity: 658
Merit: 500
For me it depends on the amount I will be processing if I will send 1 btc Im willing to pay $1-5 for faster confirmations, $6-10 seems to high for me its not justifiable anymore, if the amount is small like $1-5, 0.01 usd is ok.
Well said, it should depend on the amount of funds you are moving. for someone moving $5, $0.1 is high in my own views, the irony of this whole issue is that, the wasn't the case when the price was around $600, we now have BTC penetrating into some new markets especially south America and Africa. I just think the whole transaction fee issue is more political than the main scaling debate issue
hero member
Activity: 490
Merit: 500
This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalksearch.org/topic/2017-02-04-almost-1-billion-worth-of-bitcoins-stuck-in-transaction-backlog-1777803

How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.
In early days,i used to pay 0.1 dollar for a transaction.It will be immediately transacted.It was a pleasant memory.But still today,if i am willing to pay only 0.1 dollars,surely my transaction would get 5 to 6 days to get completed.I dont have that much patience in this digital world.I am ready to pay 1 dollar to speed up my transaction.If the fees still exceeds this limit,i think it would not be economical.
sr. member
Activity: 532
Merit: 250
This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalksearch.org/topic/2017-02-04-almost-1-billion-worth-of-bitcoins-stuck-in-transaction-backlog-1777803

How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

I voted 0.1 USD or less because i believe that bitcoin's only advantage against other money transmitters is its anonymity, it's global usage(currency without borders) and also the fees are low.

If you take away the amazingly low fees, then people are just going to use Paypal.

Fee is really high right now, and for someone in a poor country like India, right now sending a transaction could set them back on lunch or breakfast. 50 cents to a dollar might not be much for us, but it is a lot for many people in other countries.
hero member
Activity: 644
Merit: 500
In this situation less is better for me. Today in sum I pay like 10% for cashing out process. I am agree to pay something that not higher 1$.

if you sending fee every sending bitcoin use 10% from cashouse is process i think is very big
example you sending one bitcoin, you use 0.1bitcoin is fee i think is very big
because basic sending fee not use precentage bitcoin sending, but use block size in system
hero member
Activity: 798
Merit: 503
For me, I really dont have an input in the price to pay as the minimum to pay would have been recommended by the wallet site only if you want the transaction to take forever but most times, I used the recommended price suggested although its on the high side but safety and timeliness is key when transacting. If it becomes unbearable, I guess I will just look for alternative...
hero member
Activity: 1092
Merit: 501
Nothing more than 0.01 BTC; people should stop the monetization of Bitcoin transactions because the enticing factor that drew some of us into Bitcoin is the low transaction fees but it seems the trend is Changing and its worrying.
Yeah, not more than 0.01BTC because if that happen, it will become worst than a bank.  But I think it won't gonna happen perhaps. But I'm okay for 0.001BTC per transaction I think that would not much hurt so badly. Embarrassed
legendary
Activity: 1512
Merit: 1041
This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalksearch.org/topic/2017-02-04-almost-1-billion-worth-of-bitcoins-stuck-in-transaction-backlog-1777803

[size=14 pt][ b]How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)[/b][/size]

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

Transaction fee in the blockchain was most of the time is the main problem of the bitcoin enthusiast at the present now, because the fee is so high. So regarding which amount I agreed in terms of transaction  fees.
People should understand that the bitcoin transaction fees is something that we can’t run from, not as long as the bitcoin is hard to mine and gets harder with every halving, and with the increasing number of people using it, but this doesn’t mean that I agree on the fact that fees should be increasing, even after paying fees the transactions are still slow which means it is no better that bank transfers.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
For me it depends on the amount I will be processing if I will send 1 btc Im willing to pay $1-5 for faster confirmations, $6-10 seems to high for me its not justifiable anymore, if the amount is small like $1-5, 0.01 usd is ok.

i am agree with because if we send 1 btc then that fee is not a big deal for us and i think many bitcoin user is not problem with this. but if we send small amount and the fee is really high like ice18 mention, then i think its not worth although the bigger fee can make the transaction is fast to get confirmed.
hero member
Activity: 2492
Merit: 542
For me it depends on the amount I will be processing if I will send 1 btc Im willing to pay $1-5 for faster confirmations, $6-10 seems to high for me its not justifiable anymore, if the amount is small like $1-5, 0.01 usd is ok.
hero member
Activity: 2912
Merit: 642
These days, I always tell myself to use at most .0004 in fees (simple:1input1output tx).
And to forego the 220-260/byte suggested.
Especially since I'm not in a hurry and could afford to wait for several hours. But,

I fail more often than not because I always end up opting to have it confirmed within minutes. [sigh]
(I guess I'd rather have the funds nice and confirmed in my account than waiting for who knows how long exactly.  Embarrassed)

Anyway, I absolutely do not want to pay over $1 in fees for everyday transactions.

If it was a transaction worth several hundreds/thousands of dollars, then yeah, $1-$3 would be okay just so I'd have it in my hands ASAP.
(Yeah yeah it's not about the worth but the size of the transaction.  Grin [sheesh] but still.)

So, voted for .1 USD ideally, but the occasional $1 would be okay as well. ($1 is not a bottle of water. That's a 1.5 liter of Coke  Grin)


Correct. I do think that is the reason also for me to pay much.
If it is large number of money that we are talking about then I would gladly pay the right amount also for the faster transaction.
It would still be better than Moneygram services which transaction fees are getting higher once the amount you are sending are also getting up.
A dollar per $1000 is not going to hurt compare to those money transfer services.
hero member
Activity: 756
Merit: 503
Crypto.games
These days, I always tell myself to use at most .0004 in fees (simple:1input1output tx).
And to forego the 220-260/byte suggested.
Especially since I'm not in a hurry and could afford to wait for several hours. But,

I fail more often than not because I always end up opting to have it confirmed within minutes. [sigh]
(I guess I'd rather have the funds nice and confirmed in my account than waiting for who knows how long exactly.  Embarrassed)

Anyway, I absolutely do not want to pay over $1 in fees for everyday transactions.

If it was a transaction worth several hundreds/thousands of dollars, then yeah, $1-$3 would be okay just so I'd have it in my hands ASAP.
(Yeah yeah it's not about the worth but the size of the transaction.  Grin [sheesh] but still.)

So, voted for .1 USD ideally, but the occasional $1 would be okay as well. ($1 is not a bottle of water. That's a 1.5 liter of Coke  Grin)
sr. member
Activity: 714
Merit: 252
Well it all depends on what and how much equation of your transaction. I have voted"1 USD fee (price of a bottle of water)" which is not less and not more for a bitcoin transaction. For bitcoin to be alive it just needs more users and which it already has got. Fees are to handle the charges of blocks transmitted over the internet and believe it is boosted with the help of everyone's machine and computer. If you look at live blockchain cycle you will find there are 100+ transmission per seconds and fees as low as 1 USD would be optimum to keep it going on forever. The fee can be increased as the transaction volume increases but arithmetically with the formula 1 USD fee (price of a bottle of water). :-)
legendary
Activity: 2646
Merit: 1106
Enterapp Pre-Sale Live - bit.ly/3UrMCWI
...

Based on the recent overloaded blockchain, I have found that I am willing to pay more than before.  Especially if my transaction is "important" (and most are).

When the number of unconfirmeds at blockchain.info was running over 50,000 - 60,000 I paid about $1.50 (simple uncomplicated trx), and it took over an hour to confirm.  Watch & wait, not my idea of productive use of time.  In a trx or two later, I upped it to about $2.00, but one of them used three of my addresses as outgoing, and that one took over an hour as well.

It looks like the era of low fees is over.
The low fee era can never be expected. It's just the time that moves the variation in reference to the technology updating. If the technology running over its capacity can be solved then we can experience the fee same as the past with fast confirmation.
legendary
Activity: 2912
Merit: 1852
...

Based on the recent overloaded blockchain, I have found that I am willing to pay more than before.  Especially if my transaction is "important" (and most are).

When the number of unconfirmeds at blockchain.info was running over 50,000 - 60,000 I paid about $1.50 (simple uncomplicated trx), and it took over an hour to confirm.  Watch & wait, not my idea of productive use of time.  In a trx or two later, I upped it to about $2.00, but one of them used three of my addresses as outgoing, and that one took over an hour as well.

It looks like the era of low fees is over.
hero member
Activity: 700
Merit: 500
Its always depends how many BTC I will cash out. But to be honest I want it around $1 below only,if it's more than that it's too much for me and  I do not have any reason to pay fee more than $1.
i think there must be a reasonable price of transaction fee that people can easily bare to pay and the do not find it hard while doing small transactions.
hero member
Activity: 924
Merit: 500
This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalksearch.org/topic/2017-02-04-almost-1-billion-worth-of-bitcoins-stuck-in-transaction-backlog-1777803

How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

Transaction fee in the blockchain was most of the time is the main problem of the bitcoin enthusiast at the present now, because the fee is so high. So regarding which amount I agreed in terms of transaction  fees.
legendary
Activity: 1792
Merit: 1283
In general, I'd be willing to pay around 1 USD per transaction, I think that is a pretty fair amount.
I can see that this would limit the use of Bitcoin for micro-transactions, but I'm personally not using Bitcoin for that anyway and I also think that an altcoin could fill in that demand.

In situations like this one, where there's a lot of spam on the network, I usually don't mind paying a bit more (up to 3 - 4 dollars), to speed up the transaction.
hero member
Activity: 1092
Merit: 500
This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalksearch.org/topic/2017-02-04-almost-1-billion-worth-of-bitcoins-stuck-in-transaction-backlog-1777803

How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

I think for me, 1$ is enough for every transaction which I'm going to make. because if the transaction fee would become more than 0.01BTC I think that is totally shit, on which we are worst than a bank.
hero member
Activity: 756
Merit: 510
Dear me, I think I'm becoming a god
i think 0.1 is not bad already in fees considering that it would still be better and faster than the service charges used by western union and the likes. and i think these service charges are also important for the continuity of bitcoin as not everything that is free will last that long

0.1 dollar this now equal only 10k satoshi
i think sending fee only use 10k satoshi is very bad, very long time confirmation, maybe transaction uncorfirmation, is bad accident not receive bitcoin addres in youre sending

Maybe you are having problems with the connection of internet you are having thats why you're not receiving and confirming the btc add that you are sending. I am willing to abide how much is the fees charged in every wallet transaction I made as long as it made a fast transactions, I would even give 0.0007 btc as a tip if ever there is an option. However every transactions with fast network connection is probably making your transactions successfull always with a fast service.
Yes if we have fast internet our transaction will be fast and very quickly our transaction will get confirm. Now I am paying 0.0002 BTC fee for every transaction that means 0.23$. And I am happy to pay this amount because my transaction will get confirm very soon and I will not face any issues in my transaction.
It seems you guys are a bit misguided, your local internet speed has little to nothing to do with the confirmation speed of your transaction, transaction confirmation speed has to do with the nodes available, the amount of tx's that are to be confirmed and the fee paid, the golden rule is that you have to pay more than everybody to get your transaction confirmed within the next block or two
sr. member
Activity: 378
Merit: 250
In fairly common retail transactions it isn't too hard to pay up to 500 sat/byte.
It rules out buying coffee and it rules out use of Bitcoin in third world countries except for remittances, but Bitcoin was never meant to buy coffee with anyhow and third world countries can use altcoins.
Altcoins are going to have substantial market caps and value, it isn't like third world countries are left out. If anything, altcoins have more innovations packed into them, people in those countries will be better off using them than hanging on to Bitcoin, much like Africa skipped landlines era and went straight to mobile phones.
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