Topic: I say it again: REDUCE THE FEES! - page 3. (Read 6310 times)

This is a pathetic argument because depending on the value of a BTC, these "micro transactions" you talk off might be quite valuable. At which point you won't be able to spend your BTC because the fees are so high.

US Dollars from U$A

Valid point. This nonsense thread should be deleted.

higher fees are necessary, sooner or later. bitcoin will not be the best tool for online micro transactions, hence don't use it for it.

What is this USD you speak of?

That graph doesn't mean anything unless you compare it to the number of transactions.

Why don't you produce a graph of average cost per transaction?

USD = US Dollar

http://www.picturehost.eu/uploads/a8520e221bc0aafe86cf46d404803e42_fees.jpg

I like this chart on blockchain.info:

https://blockchain.info/charts/transaction-fees-usd

that discussion is also underway in the github source repo

but there is strong resistance in just changing 1 lil digit in the source code.


THIS IS POLITICAL!

http://qubic.boards.net/index.cgi?board=theconcept&action=display&thread=1
Scroll to "What features Qubic has"

It's in a prototype now.

So at $1000/btc is it worth reducing the fees?

How about $10,000/btc?

At some point, this needs to become a discussion. When is it?

No you cant since the official clients dont relay all transactions, depending on fee and size settings.

Using another client and setting a low fee does not solve the problem of large fees since they introduce other problems. Longer transaction times, transactions that wont be relayed by the ordinary bitcoin clients (make sure you connect to Eligius since they accept low-fee transactions), and i bet i am missing some problems.

Now why are the transactions fees a problem? My 0.001BTC:
- I be leave in an world (internet) full of microtransactions, where we pay small amounts, maybe one dollar for an app, maybe 10 cent to hear a song.
  I thought Bitcoin was the solution to this problem, with the set transaction fee's, it is not.

- as the value of bitcoins increase so does the transaction fee's. One BTC is worth 40 times more now than a it was about half a year to a year ago. Which means that the transaction fee's have increased by 40 times but the prices of the "goods" have decresed.

- The miners need the transaction fee argument is crap! a handful of computers could handle all transactions in the world if the difficulty were low enough. And if that was the case they would probably make good money too. Mining is a free market, and saying that we should keep transaction fees so some ppl can spend thousands of BTC on hardware is in my opinion a bad thing.

* My transaction fees are going into the pockets of BFL and Avalon when in all honesty the mining could have been done with a couple of cpu's.

  The argument that "We the bitcoiners" should pay money to miners so they can spend it on hardware when much cheaper equipment would suffice is just ignorant.

//GoK

The official bitcoin-qt binaries say:

Fee 0.01 recommended.

http://i.imgur.com/gCL8BPF.png

Most clients besides QT let you decide what fees you'd like to pay. I pay 0.0001-0.0002 for most transactions, which is plenty for now, a bit over 1 cent at current exchange rates. Perhaps the QT client should lower the "hardcoded" fee amount a bit, considering it was set back when BTC was worth <$20.

raise the fees

Where I live bank transfers have 0 fees. Anyway you shouldn't be comparing it to transferring money, if you want bitcoin to be mainstream it has to be practical for both large and small transactions, as the value in bitcoin gets higher so does the fee and small transactions are impossible

Who, exactly, is this request directed to?

There are ways to not pay fees. Check the board.

I usually do not pay fees. But I only send coins every once in a while.

What are you spending on that costs such huge fees?

You must not be a miner....the dust ,heat, constant attention, breakdowns, list goes on and on.

and you complain for .001 = 13 cents. Todays price @ $127

You try wiring money for that amount.

Go home.

Given the current price, yes, the default fee should be lowered  Of course everyone can change it manually on the client