Topic: How much are you willing to pay in fees for a Bitcoin transaction? - page 8. (Read 6103 times)
February 06, 2017, 10:29:45 AM
What attracted me into bitcoin is the ease of use and the low transaction fees and the control i have over my money but with time the minimum transaction fees is increasing if you are planning to send coins and if it goes like this there will be a time when the transaction price increases above a certain percentage of the coins sent.I would send the minimum fees as i will be making many micro transactions.
February 06, 2017, 10:20:09 AM
I voted 10 cents since there are many small 0.001 transactions, but basically I would be willing to pay 1% per transaction.
February 06, 2017, 10:16:41 AM
Paypal charges 1.9% but for that you get buyer insurance. That is obviously much more than I would be willing to spend.
I would say 0.1% would be a fair price, so 1c to send $10 or 1mBTC per BTC sent.
It kind of depends though, when I send Bitcoin from one wallet to another, I basically want to do it for free. When I send it to someone else or an exchange or I buy something, I am happy to pay 0.1% as mentioned above.
I would say 0.1% would be a fair price, so 1c to send $10 or 1mBTC per BTC sent.
It kind of depends though, when I send Bitcoin from one wallet to another, I basically want to do it for free. When I send it to someone else or an exchange or I buy something, I am happy to pay 0.1% as mentioned above.
February 06, 2017, 09:38:37 AM
For me it depends on the amount of bitcoins I will transact if it is a high amount like more than 0.02 then I will not care for the amount of fees and will prefer for 0.0004 or more as are suggestible by blockchain automatically but if it is smaller amount for recharging my mobile then I will like to use xapo without fees transaction.
February 06, 2017, 09:35:37 AM
From the point of view of 10 minutes interval for every transaction, I would be willing to part with $0.1, other than that, $0.01 is simply the best and that is what is inline with the whole ideology of Bitcoin - very cheaper transaction fee. The miners should be made to realize that they're in the business of mining not to recoup their investments with just one transaction. As with all properly businesses, profits definitely shows up in the long run. The high fees and now the preferential processing it has introduce, is a spoiler for Bitcoin and should be addressed before it takes us backward.
February 06, 2017, 09:05:34 AM
I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is.
It is still possible to transact Bitcoins free of cost from web wallets like Coinbase. Such wallets collect several transactions and put them in single band two cover fees on their own.
However, I vote for $0.1. The idea of $0.1 or 0.0001 BTC is not Utopia. Its still pertaining. However if it becomes widely acceptable and people stop their willingness to pay more to miners then everyone may able to grab the benefit of desire transaction time ~10 minutes.
February 06, 2017, 08:53:40 AM
I never prefer paying higher fees. 10k satoshi as fees within my affordable limit. But I am getting forced to set fees around 40k to 60k for higher priorities. I do check fees trends on blocktrail and based on that I do set fees.
February 06, 2017, 07:46:36 AM
It depends on how much the transaction is for. I'm OK with giving $1.00 if what I'm sending is a few hundred dollars. If it's something like signature campaign earnings, I'd be willing to pay a few cents at most. Maybe a dime or so. I like wallets that let you adjust the fees. The blockchain.info wallet sucks ass for just that reason, though I forget what they're charging for a fee.
Well I edited the post and added words "on daily basis" so let's say you pay all your bills and you get all your income in BTC - how much do you think the fee should be?
I posted as absolute maximum $1 - I don't think there are many items out there that are $5 in value and need confirmation within 10 minutes, maybe I can wait for this to confirm for an hour...
Big amount of bitcoin mean big fees and vice versa. People will leave bitcoin if the fees of each transaction will ever more than $1 as it consider pretty high compare to other currencies, and people will think that better to use cash in daily basis and bitcoin only for send-receive it over the country.
February 06, 2017, 07:10:55 AM
For me, it depends on the importance of the transaction. If it's an important one, i'm willing to pay higher fee as long as the transactions can be confirmed immediately.0,1$ seems like an okay amount for normal transaction fee. Personally i would pay fee up to $1, i wouldn't want to pay more than that.
February 06, 2017, 06:40:24 AM
Fees always should be based on the amount we are sending out. Still if the minimum amount is lesser than 10 cents means more cheaper and convenient to use for day today life needs.
But bitcoins works in different way, fees are determined by size of transactions and willingness of miners. So, we can not expect cheaper tx fees without considering how it works.
But bitcoins works in different way, fees are determined by size of transactions and willingness of miners. So, we can not expect cheaper tx fees without considering how it works.
February 06, 2017, 05:38:41 AM
Lowest fee would be the best choice and all people do really love the low fees regarding on bitcoin transfer but as of now there are some options on using fees its either high amount or average or dont have fees at all and these amounts does affect confirmation times.I hope in the future fees would be still low.
February 06, 2017, 05:27:40 AM
I don't pay any fees when sending money to account in the same bank as I have and the transaction is instant. If the account is in different bank, it takes one business day (still zero fee)
According to that, I'm willing to pay $0.1 for standart transactions and $1 when I really need confirmation in next block
According to that, I'm willing to pay $0.1 for standart transactions and $1 when I really need confirmation in next block
February 06, 2017, 05:25:34 AM
I would be ready to give upto 0.001 btc for my transaction. If still issue of long time taken for transaction is not solved and transaction fees still increases more,then it will be a serious issue and a big block in the progress of bitcoin.It seems that if we need to transform our bitcoin into cash today, then we have to start transforming bitcoin yesterday itself.Low transaction fee would only be seen in past history i think so.
February 06, 2017, 04:17:17 AM
I am willing to pay a dollar 
. I dont do big volumes of bitcoins but 1 USD is all I can provide. I would rather wait than almost all my profit will be turned. Maybe if I will be transacting large amounts then I will be willing to pay above that considering they will do it faster.
. I dont do big volumes of bitcoins but 1 USD is all I can provide. I would rather wait than almost all my profit will be turned. Maybe if I will be transacting large amounts then I will be willing to pay above that considering they will do it faster. February 06, 2017, 04:07:06 AM
Nothing-zero why would I want to pay anything since miners are getting 12.5BTC already by doing the works required to transact? let them not include your tx and this slowly will result in distrust of the network.
I think the protocol has a flaw where it allows miners to decide which tx to pick disregarding the legitimacy of the transaction whether it's a spam or an honest one which they could determine by considering the amount of transaction and not the size.
Meaning miners should be able to charge higher fees for transactions with bigger amounts.
Problem is in the system where it only checks the size of the data and doesn't care if it's actually money and if it is how much.
I think the protocol has a flaw where it allows miners to decide which tx to pick disregarding the legitimacy of the transaction whether it's a spam or an honest one which they could determine by considering the amount of transaction and not the size.
Meaning miners should be able to charge higher fees for transactions with bigger amounts.
Problem is in the system where it only checks the size of the data and doesn't care if it's actually money and if it is how much.
February 06, 2017, 03:56:11 AM
To be honest for me it depends on the emergency of the transaction if I am in a position where I can postpone the transaction after such ''unconfirmed transactions' scene then I would not pay any fee at all during that period and will do the transaction when things will get back to normal. However, I would pay fee up to $5 in the case of urgency.
February 06, 2017, 03:47:55 AM
using fiat is free, at least in my country with our banking system it is. if i want to tranfer money from one bank to another i can do it for free with no fee. if i want to do it from my card it will cost me a fixed fee of about $0.1
with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.
with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.
Yes that's what i thought - the "typical" rate should be between $0.01 - $0.1 while the $1 should be really as a very maximum.
Actually banks also have the fees based on the amounts transferred. Over 2k EUR (I think it's 2k, but I am not 100% certain of the amount) the fee is bigger.
However, back to the question: since the only cases until now I needed transactions to actually happen fast were when I bought something with Bitcoin (2 cases until now), even (slightly) over 1$ is acceptable for me, since the transfer rate from Bitcoin to my local currency is awful anyway, so I know I lose some money there.
So maybe a maximum of 2$ is "okay", but clearly not more than that.
Also keep in mind that if the fee rises, some will just decide to postpone transactions or put them together to optimize the fees.
February 06, 2017, 03:40:58 AM
It depends on how much the transaction is for. I'm OK with giving $1.00 if what I'm sending is a few hundred dollars. If it's something like signature campaign earnings, I'd be willing to pay a few cents at most. Maybe a dime or so. I like wallets that let you adjust the fees. The blockchain.info wallet sucks ass for just that reason, though I forget what they're charging for a fee.
Too bad blockchain doesn't work like that and we can't have fees based of amount of money we are sending. But I agree with this idea, seems reasonable, I was bothered many times when I was sending ~$10 transaction with half dollar fee.
Just because there were 2 outputs more than usual. I think fees should be variable and depend on bitcoin price - higher bitcoin price - lower the fees.
February 06, 2017, 03:37:32 AM
it doesn't make sense to have a not fixed fee because the miners will earn more as bitcoin will be higher in value, the old 10k satoshi as average was fine
paying more means that in the future when bitcoin will be higher you will going to pay a fortune just to send a low amount of money
actually the more bitcoin go high the less(in satoshi) the fee should be
paying more means that in the future when bitcoin will be higher you will going to pay a fortune just to send a low amount of money
actually the more bitcoin go high the less(in satoshi) the fee should be
February 06, 2017, 03:31:30 AM
using fiat is free, at least in my country with our banking system it is. if i want to tranfer money from one bank to another i can do it for free with no fee. if i want to do it from my card it will cost me a fixed fee of about $0.1
with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.
with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.
Yes that's what i thought - the "typical" rate should be between $0.01 - $0.1 while the $1 should be really as a very maximum.
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