Topic: How much are you willing to pay in fees for a Bitcoin transaction? - page 7. (Read 6103 times)
February 07, 2017, 08:02:43 AM
I am willing to pay more than 1 USD, but my transaction should be instant. Many people will look for service because, if services are good people are ready to pay more than that also. They need instant money because some people need money very urgently, so these people will pay high amount for payments.
February 07, 2017, 07:18:11 AM
Please include $0.2, because I'd like to pay that fee if I want my transaction confirmed in 10 minutes and there is no such option in your poll. I'm pretty sure I'm not the only one who wants to pay that fee. I think that $0.2 fee would be good for miners and for Bitcoin users.
February 07, 2017, 06:40:01 AM
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.
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.
the way bitcoin works, it can never be based on a percentage of the money you send. that is a fiat world way of thinking. and those services involved with fiat shouldn't even be doing it because there is no difference between sending $1 or $1mil for them at all. but they do it to make more money from the rich people.
and no i am not willing to do that, or pay any fees above $0.1 ever when i am using bitcoin.
February 06, 2017, 02:20:59 PM
i guess that $0.1 is fair, rigth now for small tx the recommended fee are almost higher than tx itself, and tx with small fee take too much for confirmations, assuming than tx fee will get higher(that it will, due to block rewards wont be the main income of miner in future) there must be taken actions to regulate this
February 06, 2017, 02:07:54 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.
You're paying to receive fiat. That's where all of their expenses go. If you want fiat from Bitcoin then you have to dick around with exchanges or meeting strange men in cafes and receiving cash. With WU you pay them all that money to appear at an office halfway around the world with a code and walk out with the cash.
None of my Bitcoin movements are particularly vital but there is a stage where I'll stop using it for anything other than parking value. Anything consistently above 50c would end my spending habits.
February 06, 2017, 01:59:55 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.
February 06, 2017, 01:49:42 PM
It depends on the size of transaction. If I were forced to pay $1 for every single transaction, including buying a pack of gum or smokes, I'd stop using Bitcoin for small transactions and I think many people would choose to do the same. Paying $1 for a $2 transaction is crazy.
I would be willing to pay $5 for a $1000 transaction, but the standard fee should be smaller than 50c.
I think they will not stop using bitcoin instead those who are using blockchain.info and desktop wallets or any apps that asking for fee for every transaction they will transfer to coinbase instead to get the free fee.. for every transaction.. I would be willing to pay $5 for a $1000 transaction, but the standard fee should be smaller than 50c.
For me is enough if the transaction is 0.01btc we can pay for 10 cents is enough since before bitcoin is very cheap transaction fee.. unlike right now..
February 06, 2017, 01:44:02 PM
It depends on the size of transaction. If I were forced to pay $1 for every single transaction, including buying a pack of gum or smokes, I'd stop using Bitcoin for small transactions and I think many people would choose to do the same. Paying $1 for a $2 transaction is crazy.
I would be willing to pay $5 for a $1000 transaction, but the standard fee should be smaller than 50c.
I would be willing to pay $5 for a $1000 transaction, but the standard fee should be smaller than 50c.
February 06, 2017, 01:24:41 PM
It would depend to how much I am sending. If i just send $5 worth of BTC, I wouldn't want to pay $1 for its transaction to be confirmed as quick as possible. But I will set it to $0.20 or SMS fee. But i'm gonna send about $100 and more, I could also set it to $1 or maybe even $5, will miners ever chose which transaction to process? If all are gonna set their fee to $0.10 are they going to stop mining?
Below $0.10 is to much for every day transaction since the fee is for miners how those miners can stay profitable if the senders are just paying small amount of fee for every transaction..
So Paying fee $1 or more depends if i am sending large amount of bitcoin its ok for me.. and the speed of the transaction should fast.. since we are paying large amount of fee.. unlike other people even they are sending large amount of bitcoin they are just fixed paying 10k sat..
That can turn the transaction slow..
Exactly what I'm saying. There are wallets however that whenever we send BTC we aren't able to set up the fee.
I think it is really annoying to send transaction and not confirmed, I am willing to pay less than $0.1 since the function and objective of Bitcoin is to have a low fee transaction. If in the future this ideal is not practice, I think I will shift to a lesser coin if there is any that is accepted in store just like Bitcoin.
I think for me $1 in bitcoin is enough for me but depends if how much i am sending the amount.. Below $0.10 is to much for every day transaction since the fee is for miners how those miners can stay profitable if the senders are just paying small amount of fee for every transaction..
So Paying fee $1 or more depends if i am sending large amount of bitcoin its ok for me.. and the speed of the transaction should fast.. since we are paying large amount of fee.. unlike other people even they are sending large amount of bitcoin they are just fixed paying 10k sat..
That can turn the transaction slow..
Exactly what I'm saying. There are wallets however that whenever we send BTC we aren't able to set up the fee.
February 06, 2017, 01:09:06 PM
I think it is really annoying to send transaction and not confirmed, I am willing to pay less than $0.1 since the function and objective of Bitcoin is to have a low fee transaction. If in the future this ideal is not practice, I think I will shift to a lesser coin if there is any that is accepted in store just like Bitcoin.
I think for me $1 in bitcoin is enough for me but depends if how much i am sending the amount.. Below $0.10 is to much for every day transaction since the fee is for miners how those miners can stay profitable if the senders are just paying small amount of fee for every transaction..
So Paying fee $1 or more depends if i am sending large amount of bitcoin its ok for me.. and the speed of the transaction should fast.. since we are paying large amount of fee.. unlike other people even they are sending large amount of bitcoin they are just fixed paying 10k sat..
That can turn the transaction slow..
February 06, 2017, 01:03:50 PM
I think it is really annoying to send transaction and not confirmed, I am willing to pay less than $0.1 since the function and objective of Bitcoin is to have a low fee transaction. If in the future this ideal is not practice, I think I will shift to a lesser coin if there is any that is accepted in store just like Bitcoin.
February 06, 2017, 12:23:43 PM
in my opinion paying higher fees at this point means paying miners extra money, more than they deserve. right now they are earning $12,875 for each block they mine and some of them mine quite a lot of them. they can easily increase the block size and get the same total fees they get now and even more but users will be more satisfied.
to answer your question i wouldn't be willing to pay fees higher than $0.1 (of course that is for regular size transactions not a big tx size).
maybe someday that block reward wasn't as high, and block size was big and miners really needed the fees i pay, i would be ok with paying higher fees.
to answer your question i wouldn't be willing to pay fees higher than $0.1 (of course that is for regular size transactions not a big tx size).
maybe someday that block reward wasn't as high, and block size was big and miners really needed the fees i pay, i would be ok with paying higher fees.
February 06, 2017, 12:07:36 PM
It depends a lot on the amount sent. If it is a high-value transaction, I am willing to pay a higher fee, if it is a low amount, it will be better to use an altcoin. Of course, this is for quick confirmation, we do not always need it to be fast so we can wait.
I can do money transfers using my online banking account for free and in an instant for as long as they are within the same bank. But this will soon change as my bank has a new policy where they would start charging even bank to bank online fund transfers. With bitcoin, anything that doesn’t cost over a dollar for transactions below $100 for me is fair, just as long as the transaction speed is almost instant or faster than they currently are. Fees should also be bracketed according to amounts to be transferred, but shouldn’t be too high so as not to turn off potential users who would otherwise just use the money transfer services elsewhere.
For a bigger transaction maybe i am willing to paid more than 1$, but for 10$ maybe i will satisfied to pay 0.1$, but it depends on the importance of the transaction, if it is an important transaction that need to be confirms immediately i am willing to pay more than 5$
yes it depends on the amount and of course the service. If the transaction service is too good anyone will agree to pay more than average fee on other sites. And I think the highest possible fee should be 3-4% of the amount of transaction. And yes they can charge more with the agreement of user for providing more facilities. February 06, 2017, 11:53:13 AM
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.
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.
February 06, 2017, 11:45:38 AM
It depends a lot on the amount sent. If it is a high-value transaction, I am willing to pay a higher fee, if it is a low amount, it will be better to use an altcoin. Of course, this is for quick confirmation, we do not always need it to be fast so we can wait.
February 06, 2017, 11:26:32 AM
For a bigger transaction maybe i am willing to paid more than 1$, but for 10$ maybe i will satisfied to pay 0.1$, but it depends on the importance of the transaction, if it is an important transaction that need to be confirms immediately i am willing to pay more than 5$
February 06, 2017, 11:14:19 AM
Using bitcoin I expect to pay the lowest possible fee that is profitable. That amount will vary based on how fast I need confirmation, the backlog of Tx's, the cost of mining, etc. This is how the bitcoin system works. Miners compete to accept fees when it is profitable and reject offers that are too low.
February 06, 2017, 11:06:44 AM
I voted for 0.1 USD and I can see 13 more people voted for the same with 50% votes for this option. I feel that it should be max 1-2% of the transaction amount and not more than that (irrespective of whether it's a 0.01 BTC transaction or 0.0001 BTC transaction). The fee should be as per the transaction amount in BTC/USD which is not the case with BTC as here we need to pay as per the bytes and not the amount of BTC we are sending. Also, no matter if we set a big fee of 0.001 for a 0.01 transaction, it won't get confirmed in 10 minutes. It takes minimum 30 minutes.
February 06, 2017, 10:57:46 AM
It really should not be more than a couple of cents, so $0.10 is more then enough.
The current fees are ridiculous.
The current fees are ridiculous.
February 06, 2017, 10:57:28 AM
while using blockchain I usually go with the by default fee which is automatically set as 15K to 30K. I had no issue in the transaction time. usually it confirms in 20 minutes.
and one more thing Xapo have the free of cost service for other xapo wallets.
and one more thing Xapo have the free of cost service for other xapo wallets.
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