Use Bitcoin: Send your money anywhere in the world, to anyone, for any reason, with no fees or strings attached
I respectfully disagree. Please don't spread false information about Bitcoin. use "Minimal" or "insignificant". But there is definitely "fees" involved for MOST transactions.
"At the moment, many transactions are typically processed in a way where no fee is expected at all"
"Transaction fees are voluntary on the part of the person making the bitcoin transaction"
"The transaction fee is therefore an incentive on the part of the bitcoin user to make sure that a particular transaction will get included into the next block"
https://en.bitcoin.it/wiki/Transaction_feesThis is how I was assuming Bitcoin still worked. Moving forward we have to be careful as even the tiniest fees can be debilitating to those processing a large volume of micro-transactions. I think these tiny transactions will be a big part of the future of Bitcoin. But I'm still under the impression that money can be sent for free. Please correct me if I'm still wrong.
Ok, more informative guys please correct me if I got this wrong. If you go to any "new" transaction on blockchain.info you will see an estimation for the first confirmation. The position in the queue to be confirmed is determined (or estimated) by how big the transaction is (Size wise and not amount wise). considering how large the fees included are, plus both how old is this transaction and how much the included fees are.
This means even though a transaction was made before another, The older transaction might be pushed back in the queue because it has no fees included or low fees. This queuing mechanism is not infinite and on the times where alot of people are making transactions a no fee transaction might take a very long time and sometimes (Yes it happened alot and to me personally a few times) this transaction might not happen at ALL, Especially if that transaction was big (Size wise and not amount wise).
The day where you simply cannot make a free transaction or a very low fee transaction is getting closer and closer but really don't sweat it Bitcoin is still light years away from being "Expensive" way to send money. (Please don't start the micro transaction cost guys, That is a VERY different story).
I hope this shed some light and please tell me if I am mistaken about something.
- Lophie
