If bitcoin is to become mainstream it needs to be able to work with small transactions. If the value of bitcoin increases and the fee remains the same, smaller transactions will stop being plausible and bitcoin loses a big portion of its userbase.
Unfortunately some people don't want regular people to be able to use Bitcoin, so this is a desired outcome for them. 
Topic: I say it again: REDUCE THE FEES! - page 4. (Read 6310 times)
Do you all realise that by not lowering the fee so its USD value stays roughly the same you are saying "raise fees to stop small transactions"? Because that is exactly what is happening.
Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Do you understand that except for some very special circumstances the fee is not required? Like I said, if you are spamming a network you will have to pay a fee, that keeps the network secure. Of course, if you do not add a fee, you might have to wait a ridiculous amount of time before your transaction confirms, but that's entirely up to the miners.Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Like John, I, too, have not paid a fee for a transaction in a very, very long time.
im not crazy familiar with the metric that decides on fees and i dont know of any type of calculator that lets you guess at costs though id love to see one! but unless that metric includes a BTC to USD value conversion in it, the metric will increase in value as the BTC price increases.
What i mean is, *As an example* someone used 100BTC that was 1 day old to sweep up some small transactions with no fee. when it was 15$ each that was 1,500$ in BTC, now that its 150$ each thats 15,000$ in BTC, as a result the barrier for "free" transactions is higher then it used to be because the USD value went up even if the BTC amount stayed the same. *this is not meant to say you need 100 BTC for a free transaction, its just illustrating a point with a example i found on the forum.*
I do however think that the "spamming threshold" could (should) be lower than 0.01 btc at this point. This threshold is the real problem in my opinion, not the minimum fee itself.
Do you all realise that by not lowering the fee so its USD value stays roughly the same you are saying "raise fees to stop small transactions"? Because that is exactly what is happening.
Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Do you understand that except for some very special circumstances the fee is not required? Like I said, if you are spamming a network you will have to pay a fee, that keeps the network secure. Of course, if you do not add a fee, you might have to wait a ridiculous amount of time before your transaction confirms, but that's entirely up to the miners.Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Like John, I, too, have not paid a fee for a transaction in a very, very long time.
im not crazy familiar with the metric that decides on fees and i dont know of any type of calculator that lets you guess at costs though id love to see one! but unless that metric includes a BTC to USD value conversion in it, the metric will increase in value as the BTC price increases.
What i mean is, *As an example* someone used 100BTC that was 1 day old to sweep up some small transactions with no fee. when it was 15$ each that was 1,500$ in BTC, now that its 150$ each thats 15,000$ in BTC, as a result the barrier for "free" transactions is higher then it used to be because the USD value went up even if the BTC amount stayed the same. *this is not meant to say you need 100 BTC for a free transaction, its just illustrating a point with a example i found on the forum.*
If bitcoin is to become mainstream it needs to be able to work with small transactions. If the value of bitcoin increases and the fee remains the same, smaller transactions will stop being plausible and bitcoin loses a big portion of its userbase.
I agree that the fee should be reduced if bitcoin keeps appreciating in value.
I agree that the fee should be reduced if bitcoin keeps appreciating in value.
Do you all realise that by not lowering the fee so its USD value stays roughly the same you are saying "raise fees to stop small transactions"? Because that is exactly what is happening.
Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Do you understand that except for some very special circumstances the fee is not required? Like I said, if you are spamming a network you will have to pay a fee, that keeps the network secure. Of course, if you do not add a fee, you might have to wait a ridiculous amount of time before your transaction confirms, but that's entirely up to the miners.Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Like John, I, too, have not paid a fee for a transaction in a very, very long time.
another f****** rip-off is the 1 € = 1 U$D fee to be "allowed" to edit the btc-wiki 
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
Soo you expect admins and contributors to work for free ? What about hosting costs, costs for the admin and so on ? There's no rule that you cannot ask for a donation or take paid for services you provide. Also paying ensures that the quality of contributions are higher. It will deterr the average spammer from registering. If one is unhappy about this, one is free to start a free wiki on your own terms.
Im fairly sure hes just frustrated by the apparent inability of people to come up with an opposing opinion while addressing his concerns.
another f****** rip-off is the 1 € = 1 U$D fee to be "allowed" to edit the btc-wiki
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
Welcome to the bitconomy. Adapt yoself before yo wreck yoself.
another f****** rip-off is the 1 € = 1 U$D fee to be "allowed" to edit the btc-wiki
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
Soo you expect admins and contributors to work for free ? What about hosting costs, costs for the admin and so on ? There's no rule that you cannot ask for a donation or take paid for services you provide. Also paying ensures that the quality of contributions are higher. It will deterr the average spammer from registering. If one is unhappy about this, one is free to start a free wiki on your own terms.
Do you all realise that by not lowering the fee so its USD value stays roughly the same you are saying "raise fees to stop small transactions"? Because that is exactly what is happening.
Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Rather we should have solid rules in place to stop transactions that negatively impact the blockchain.
15$ per BTC = 0.0075 USD fee
150$ per BTC = 0.075 USD fee
500$ per BTC = .25 USD fee (Same as dwolla except we dont allow small transactions for free)
But by your guys logic raising the fee in USD helps the network, so why dont we raise it further rather then lowering it. lets move it up to 1$ for every transaction, that way we can push out many other small transcations and at the same time have higher fees then dwolla and paypal, it will be a strike of genius! everyone will flock to bitcoin for its higher fees!
But how do you plan to convince people to use bitcoin when bitcoins fees are nearly as high as dwollas *right now* and fees to get bitcoins are even higher? We may care about how bitcoin is better then dwolla and paypal, but try convincing the public that they should trust bitcoin and enjoy the ever increasing fees at the same time.
Look here
One way to lower the fees is to become a miner yourself.
Then you can set to accept no-fee transactions and create blocks that are several megabytes big if you like.
One way to lower the fees is to become a miner yourself.
Then you can set to accept no-fee transactions and create blocks that are several megabytes big if you like.
No, pretty soon as in next halving. 1800 BTC per day production isn't going to keep enough miners interested, but the fees will.
Why would 1800 BTC/day at some future valuation not be interesting for miners when 3600 BTC at $15-$150 is, as was 7200 BTC at $0-$31?
No one is forcing anyone to make huge capital investments - it's healthy competition which clearly finds the current production rate attractive.
ITT OP rages about things he doesn't understand
ppl who run bitcoin foundation are carpetbaggers
ppl who run bitcoin foundation are carpetbaggers
I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same.
+1 exactly it should be proportional. reg
+1 exactly it should be proportional. reg
Guys ? A transaction fee in the bitcoin case , means the minimal amount required to get included in the block. Additionally a Miner can reject to mine a block if he thinks there is not enough fees paid.
So , and if you are not included in the block or your transaction is in a block with low fees your transaction may in the worst case never be validated.
However at the moment there are no miners rejecting anything. But this will change in the near future. Miners will set a price. And that is how it always was intended.
The values in the satoshi client are only a guidance ( and its quite small), so get over it and pay your miners for securing the network.
another f****** rip-off is the 1 € = 1 U$D fee to be "allowed" to edit the btc-wiki
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
you shameless greedy sheisters !
I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same.
+1 exactly it should be proportional. reg
+1 exactly it should be proportional. reg
It's still dirt cheap compared to credit card or paypal processing (something like mandatory $0.25 + 2% or more). Miners have to be paid with fees pretty soon, after the next halving, the mining reward from fees will be very important to keep miners on board.
pretty soon as in 2140?
I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same. Miners will still get paid an equal amount in value so i don't see why that is an argument to not do it. similarly, if we reduce the transaction fee according to bitcoins worth, spam protection will stay the same, as the serious spammer will still have to invest the same amount of value to spam.
By not reducing the minimum fee we are slowly taking away one of the advantages of bitcoin.
No, pretty soon as in next halving. 1800 BTC per day production isn't going to keep enough miners interested, but the fees will. if you want security, you pay the fee. Better security increases the value of your own BTC.
thats bs
you can easliy have free bank accounts in europe.
transactions are free over here if you want
you can easliy have free bank accounts in europe.
transactions are free over here if you want
until they decide to hair cut your account
I DO NOT UNDERSTAND HOW BITCOINS OR FREE MARKETS WORK AND WRITE IN BIG LETTERS
ftfy.
I quote myself :
Feel free to use a client where you can set your fee as low as you want.
And after you did that ... go outside and harass some bees.
Jump to: