I think we are greedy - page 2. | Bitcointalksearch.org

nethan1btc

sr. member

Activity: 574

Merit: 250

Quote from: Victorycoin on May 27, 2017, 05:56:51 PM

Quote from: ufaiz50 on May 21, 2017, 09:46:43 PM

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

it's true we also get a lot of profit from rising bitcoin price so the transaction fee increase is fair to me. but which is very unfortunate if we transact with a small value I mean when the transaction $50 and fee $3 is very much.

I think you are mixing it up, the transaction fee didn't increase as a result of appreciation in the price of Bitcoin, rather increase in the adoption of Bitcoin across the globe placed more load on the network and more in the mouth of miners than they could chew.

We should not say were greedy because it's not true since everything is always a matter of choice. If you think you are greed of what's been happening with your profit from bitcoin withdrawal converted to fiat, you can give some btc amounts to friend who in need of money so that you will be satisfied with what you felt unwell. Just to be fair with everything that transaction fees has to be more accurate and no one losses it since we benefited much without the control from goverment.

Labumi

hero member

Activity: 756

Merit: 500

Quote from: Ucy on May 23, 2017, 08:55:20 AM

Ended up paying high fee after four days of waiting, 24hr later still not confirmed. Heard that activating SW will solve this problem but what are they still waiting for. The whole thing is really surprising to me

Hmm, indeed it is today the main thing that happened in the bitcoin is a matter of confirmation delays occur. because right now there are a few things that allow the confirmation delay is increasingly common and the main thing is because of the growing number of transactions while his confirmation of his own (the miners). still very little. So, it may have to take a lot of funds to be quickly confirmed. But indeed the amount of the fee should be given 2 x fold of existing or if indeed you do great deals, it is better to use the fee above $5

XbladeX

legendary

Activity: 1302

Merit: 1002

Quote from: Vikingr on May 23, 2017, 04:05:00 PM

***
You are right we are getting greedy but ***

Sure the whole crypto ecosystem seems a bit over-pumped at the moment but don't not cash out unless you really want to buy something that you can only buy with fiat. Crypto-bubbles will come and go - what we need is off-ramps that allow us to stay in crypto yet lighten-up on any over-pumped coins. How? Pegged-cryptos. Crypto pegged to gold. Crypto pegged to silver. Crypto pegged to Swiss Francs. Crypto pegged to other commodities (ZrCoin maybe) or other currencies. Even Crypto pegged to the old $. Some of these already exist. Some need to be created and scaled now! Crypto needs to become a true ecosystem (and toxic scams will unfortunately be part of it).

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: ufaiz50 on May 21, 2017, 09:46:43 PM

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

it's true we also get a lot of profit from rising bitcoin price so the transaction fee increase is fair to me. but which is very unfortunate if we transact with a small value I mean when the transaction $50 and fee $3 is very much.

I think you are mixing it up, the transaction fee didn't increase as a result of appreciation in the price of Bitcoin, rather increase in the adoption of Bitcoin across the globe placed more load on the network and more in the mouth of miners than they could chew.

Vikingr

hero member

Activity: 798

Merit: 500

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

You are right we are getting greedy but if we think and realize the reality then we will accept the current fees of transaction which miners get from us. A few day ago when I was going to transact bitcoins of worth $250 then I paid a fees of $2 for that I was worried about the fees then I thought that it is for a balance of $250 then I happily accept it.

poptok1

hero member

Activity: 1638

Merit: 756

Bobby Fischer was right

Quote from: machinek20 on May 23, 2017, 10:14:46 AM

We are not greedy but we want the best coin that we can get, the coin with high price and low fee, because for the one that seldom used maybe its okay, but for the one that implemented bitcoin in business, it is going to impact a lot of things and the customer will think twice before using bitcoin

This impact you are talking about, is most likely an impact on fiat wallet fatness Grin

I bet all those early business bitcoin adopters are more than happy with their decisions of accepting BTC.
I retain myself from looking through my transactions from the past, where purchases worth xx in fiat are 3times bigger now

it's just how it is. And how that seller feels when he checks his wallet?
As to customers having doubts with BTC... well, screw them Roll Eyes

One have to believe in something in life, some pick deity others choose crypto(why not both? that's a discussion for other thread)

btcdevil

legendary

Activity: 1302

Merit: 1027

Quote from: TravelMug on May 23, 2017, 03:09:19 PM

Quote from: Kprawn on May 23, 2017, 10:28:23 AM

Quote from: machinek20 on May 23, 2017, 10:14:46 AM

We are not greedy but we want the best coin that we can get, the coin with high price and low fee, because for the one that seldom used maybe its okay, but for the one that implemented bitcoin in business, it is going to impact a lot of things and the customer will think twice before using bitcoin

You can have your bread buttered on both side, if the developers can just find a scaling solution that would satisfy the miners and the users. At

this moment, only the one side {the miners} are satisfied with the status quo. The miners are the greedy people in this scenario, because they

do not want Bitcoin to scale. The scaling will mean that they will no longer be able to get these high miner fees... Angry

They know that they will make a lot of money so why come in a consensus to solved the rising transaction fees? Oh the miners, and the one that is suffering in the casual bitcoin enthusiast because we are really paying them high fees so that our transaction can be included in the next block. So we are really in the hands of the miners now.

If we dont find the solution for this problem then i think very soon most of us will try to switch to other currency for trading and bitcoin will be used for investment purpose only like. Now i am changing my coins to eth and then i am selling them to fiat currency as the transaction fees is less and it is getting faster confirmation and the price is also i am getting high.

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: Kprawn on May 23, 2017, 10:28:23 AM

Quote from: machinek20 on May 23, 2017, 10:14:46 AM

We are not greedy but we want the best coin that we can get, the coin with high price and low fee, because for the one that seldom used maybe its okay, but for the one that implemented bitcoin in business, it is going to impact a lot of things and the customer will think twice before using bitcoin

You can have your bread buttered on both side, if the developers can just find a scaling solution that would satisfy the miners and the users. At

this moment, only the one side {the miners} are satisfied with the status quo. The miners are the greedy people in this scenario, because they

do not want Bitcoin to scale. The scaling will mean that they will no longer be able to get these high miner fees... Angry

They know that they will make a lot of money so why come in a consensus to solved the rising transaction fees? Oh the miners, and the one that is suffering in the casual bitcoin enthusiast because we are really paying them high fees so that our transaction can be included in the next block. So we are really in the hands of the miners now.

ivanluiso84

newbie

Activity: 30

Merit: 0

It is a young market and abuse is committed. But the Competition will drive fee prices down.

moriskarlov

sr. member

Activity: 546

Merit: 252

Quote

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

Agreed, it`s a fair fee, no inflation, no banking white coats who drink juices from working man. Now Bitcoin lacks only test of time for more trust and course stability.

Kprawn

legendary

Activity: 1904

Merit: 1074

Quote from: machinek20 on May 23, 2017, 10:14:46 AM

We are not greedy but we want the best coin that we can get, the coin with high price and low fee, because for the one that seldom used maybe its okay, but for the one that implemented bitcoin in business, it is going to impact a lot of things and the customer will think twice before using bitcoin

You can have your bread buttered on both side, if the developers can just find a scaling solution that would satisfy the miners and the users. At

this moment, only the one side {the miners} are satisfied with the status quo. The miners are the greedy people in this scenario, because they

do not want Bitcoin to scale. The scaling will mean that they will no longer be able to get these high miner fees... Angry

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: Ucy on May 23, 2017, 08:55:20 AM

Ended up paying high fee after four days of waiting, 24hr later still not confirmed. Heard that activating SW will solve this problem but what are they still waiting for. The whole thing is really surprising to me

It is not actually surprising...the main reason is that the whole Bitcoin community especially the miners are still not able to make up their minds as to what the solution should be. Now, there is also a dark reason for this: the current problem raised the fees and so miners want to stretch the problem so they can rake in more profits. Greed has taken the whole Bitcoin and we ordinary users are not pleased as we are the victims here.

machinek20

hero member

Activity: 840

Merit: 501

We are not greedy but we want the best coin that we can get, the coin with high price and low fee, because for the one that seldom used maybe its okay, but for the one that implemented bitcoin in business, it is going to impact a lot of things and the customer will think twice before using bitcoin

Zicadis

legendary

Activity: 1372

Merit: 1027

Dump it!!!

Quote from: Velkro on May 23, 2017, 03:06:04 AM

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

You have look of a 1st world person. If you live in 2 world or 3-rd world, you look at things diffirent, for example this $1-$5 could be your month salary. So now this isn't looking usable for half of world population.

I have to agree with op here its acceptable to have fees around $1-$5 with the current bitcoin prices.. besides lets not put the value of the coins before

executing our transactions because we shall feel the pinch.But paying fees as high as $200 is ridiculous! Lets just hope things will change for the better

after segwit activation

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: audaciousbeing on May 23, 2017, 09:10:25 AM

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

The fact that bitcoin price is rising everyday is a enough reason why the transaction fees should also increase but at the same time, we should not be unmindful that its is not only the fees that people are complaining about but the timing it takes for transaction to confirm aside that the issue of change in the transaction fees in a matter of seconds is another issue of concern.

It is okay if the fee is increasing only on it $ equivalent but the problem is sat/byte is the one bloating. And it will continue to bloat as long as no solution is voted by the miners. The solution is there, but it is not being elected maybe because of greed or other reasons and that is what is frustrating right now.

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

The fact that bitcoin price is rising everyday is a enough reason why the transaction fees should also increase but at the same time, we should not be unmindful that its is not only the fees that people are complaining about but the timing it takes for transaction to confirm aside that the issue of change in the transaction fees in a matter of seconds is another issue of concern.

kpcian

hero member

Activity: 826

Merit: 529

At the end of the day everyone is a greedy person more or less. If you think about the price of Bitcoin then, when it will be higher then we must be glad but if it falls then we don't be happy. So our satisfaction depends on our desire not deserve. That's is the human nature and we are not out of this.

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Ended up paying high fee after four days of waiting, 24hr later still not confirmed. Heard that activating SW will solve this problem but what are they still waiting for. The whole thing is really surprising to me

lovesybitz

sr. member

Activity: 868

Merit: 289

It is only your thoughts and speculation that everyone here in this industry was a greedy person.
Not all bitcoin community are like that, because being like to earn big in bitcoin it just a normal thing
where we believe that it has a brighter future that it can give to us.

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: FlamingFingers on May 20, 2017, 08:21:44 PM

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

You have look of a 1st world person. If you live in 2 world or 3-rd world, you look at things diffirent, for example this $1-$5 could be your month salary. So now this isn't looking usable for half of world population.

Topic: I think we are greedy - page 2. (Read 5797 times)