Topic: How much are you willing to pay in fees for a Bitcoin transaction? - page 6. (Read 6103 times)
February 08, 2017, 10:00:00 PM
I'll pay 0.1$ before I call it enough. I can send 25 texts for that price, and to transfer money through Paypal or my bank is free. At some point high fees would also probably hurt mass adoption.
February 08, 2017, 09:01:44 PM
I think it should stay low so people are not discouraged from making Bitcoin transactions. The problem is that miners need to get paid. Small transactions are not worth it if the fees are too high.
The block reward pays them plenty. Its up to the users to decide whether they want to carry on once the reward is borderline negligible. I have a feeling they won't be too keen if each transaction is ten dollars plus.
At a certain point someone's going to bail, either the serious miners because it's no longer worth their while or the users who go off in search of something cheaper and less crippled.
And as is often pointed out more nimble miners will take their place, but if the users are gone they'll probably stay gone.
February 08, 2017, 07:39:41 AM
I think it should stay low so people are not discouraged from making Bitcoin transactions. The problem is that miners need to get paid. Small transactions are not worth it if the fees are too high.
February 08, 2017, 07:31:17 AM
I would like to see bitcoin fees of $0.01. You would want bitcoin to compete with local banks in money transfer.
Transferring fiat within the country is usually free. You don't want bitcoins to get priced out.
Transferring fiat within the country is usually free. You don't want bitcoins to get priced out.
you use sending fee only 0.01 dollar how much size youre sending bitcoin and how much youre sending bitcoin
if size big and you only use sending fee 0.01 dollar , i think youre transaction if never confirmation
February 07, 2017, 11:26:42 PM
I am willing to pay at least 1% of the total amount involved. I think it should be that way so that sending money thru bitcoin will always be cheaper than using other services like money transfer or western union.
Unfortunately, bitcoin fees are based on bytes not on amount. So my 1% on amount will not be practical to be used as base for good transaction fees.
Even if would have somehow that 1% fee rate deducted from total amount sent, it would be only feasible solution for small transaction. Unfortunately, bitcoin fees are based on bytes not on amount. So my 1% on amount will not be practical to be used as base for good transaction fees.
Sending large sum of money would be pain in the ass. Bitcoin would be no different that standard payment processors and remittance solutions.
Bitcoin was never planned as a payment method best suited for microtransactions, small flat fees is what we need.
I just want the fee to be way smaller than what we normally pay on money transfers. Even if we send large amount, it will still be cheaper than sending it on wire transfers. Flat fees is a good idea but I think we will have a hard time finding the right amount that will fit small and large transactions.
February 07, 2017, 10:17:28 PM
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.
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 am willing to pay twenty thousand satoshi or 0.0002 bitcoins. But in reality I am paying fifty thousand satoshi or 0.0005 btc when I transfer my bitcoins. I would wish that they would just reduce it to 20k satoshi so we would not end up losing our bitcoins from just transferring it. It is becoming like the banks surcharges and it is a pain in our pocket.
February 07, 2017, 09:05:30 PM
I do move my bitcoin about far less these days due to fees, back when it was $0.01 i would move my paper wallets at least every couple months but now i just keep it where it is, i would be willing to pay up to $0.50 at the minute to move it all if i felt i had to .
Well, if you're moving small amounts of bitcoin then $0.50 would really be a hard trade off, but if it is worth more than $50 then a 1% fee would be just okay. More than 1% is quite unreasonable already as we always have to pay more fees when moving it or cashing out the bitcoins and that sucks. The lesser fees the better, but if it is necessary what can we do.
February 07, 2017, 05:54:03 PM
I do move my bitcoin about far less these days due to fees, back when it was $0.01 i would move my paper wallets at least every couple months but now i just keep it where it is, i would be willing to pay up to $0.50 at the minute to move it all if i felt i had to .
February 07, 2017, 05:19:33 PM
I wont pay any big value to make my transaction to boost i do pay the general fee that will get my transaction confirmed into the next 6 blocks, i do trade small values soo makes no sense to raise my fee just to speed the transaction, something i can wait a bit.
Yeah, I too don’t want to pay a lot of fees on the transaction, because the way I see it bitcoin was meant to let us be free and get away from taxes and government control and paying fees makes me rethink that, so why bother using bitcoin if you are going to pay taxes, you are better off using real money.Hopefully we are going to have a new era with bitcoins prices around $2000 and tx fees around 10k satoshi, then it woudl be really worth using bitcoin payment system instead of any others.
February 07, 2017, 02:02:53 PM
I voted for the price of a sms the 0.1 USD fee, since I think that is fair transaction fee especially if I send a transaction of a few tens or hundreds dollars, obviously I would like the transaction to be even cheaper but I think that is a fair price.
February 07, 2017, 01:46:08 PM
I have selected 0.01 USD but i can also pay 0.1 USD without any hesitation because i don't do transactions everyday. I do it maybe once in a week or once in a month because i mostly spend my bitcoins on filling my mobile or trading them for cash sometimes if i need cash, other then that i don't send bitcoins anywhere.
February 07, 2017, 01:34:40 PM
i think 0.1 is not bad already in fees considering that it would still be better and faster than the service charges used by western union and the likes. and i think these service charges are also important for the continuity of bitcoin as not everything that is free will last that long
February 07, 2017, 12:24:41 PM
The exchanger that I use for cashing out my bitcoins takes 3% for it's servises and I think it's just not fair. I noticed that they rised their fees from the last time when I used that site, the fee was 2%. But in the case if you cash out big amount of money the fee turns really big and I don't like it. The last time I have paid like 6$ for cashing out my money. I think the sum of transaction fees has to be fixed.
February 07, 2017, 12:14:58 PM
I would like to see bitcoin fees of $0.01. You would want bitcoin to compete with local banks in money transfer.
Transferring fiat within the country is usually free. You don't want bitcoins to get priced out.
Transferring fiat within the country is usually free. You don't want bitcoins to get priced out.
February 07, 2017, 11:24:57 AM
It's hard to say, as the bitcoin fees are based on the network and is in the form of bitcoins too. So, we can't really do anything about the price of fees because it is ultimately tied to fiat currency. But if I could set a fixed rate per transaction, I'd like it to be just $0.01 per transaction with any amount.
February 07, 2017, 11:21:06 AM
For me, I seldom not to have add some fees for my transaction. This kind of additional fees can also help us earn, this little additional fees if saved we can invest it. This maybe our porfit or capital for us to invest, or to have trades. Bitcoin transations must not implement some transactional or additional fees.
February 07, 2017, 11:17:50 AM
I would pay only 0.10$ for transaction, even a big transaction. Doesn't make sense to pay high fees if one of the advantages of bitcoin is to pay low fees. We are here to make economy when dealing with money.
However I don't worry about the transaction time, I just want to have I will receive that money, in 1 or 2 days it can be, no problem at all.
However I don't worry about the transaction time, I just want to have I will receive that money, in 1 or 2 days it can be, no problem at all.
February 07, 2017, 11:14:17 AM
I wont pay any big value to make my transaction to boost i do pay the general fee that will get my transaction confirmed into the next 6 blocks, i do trade small values soo makes no sense to raise my fee just to speed the transaction, something i can wait a bit.
How are you doing it right now? the current result for the unconfirmed transaction by blockchain already touch over 60.000 transactions and it's mean the general value will get stuck. Is it make you feeling convenience? I don't think so.
February 07, 2017, 10:07:27 AM
Come on guys - kick in some more votes and make it at least statistically feasible at 50 votes in total 
February 07, 2017, 08:57:36 AM
I wont pay any big value to make my transaction to boost i do pay the general fee that will get my transaction confirmed into the next 6 blocks, i do trade small values soo makes no sense to raise my fee just to speed the transaction, something i can wait a bit.
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