Topic: Is bitcoin transaction fees fair? - page 10. (Read 36260 times)
I can't say whether its completely fair or not, but we pay the transaction fees for the miners who are carrying out our transaction. It is surely very irritating and high at times when there is alot of traffic. I think at such times you just shouldn't make any transactions as it might cause a noticable loss.
For me, it has been a nuisance and a complete pain in the back, the fact that bitcoin transaction fees ballooned up made us unhappy. but what can we do? we can see that the value of bitcoin definitely increased and is expected to do so. so at the back of my mind, I think of the increase in transaction fee a bit reasonable because it comes with the fact that the value of bitcoin increased.
Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
Definitely it's fair price, as yoou can see when bitcoin falls there are many buyers and investors are rush selling, when bitcoin price go high is still valid, how can you can say it is not fair? It's 2018 already and lot's of sellers, holders, traders don't act any uncessary movement. Well that's the cycle of life of bitcoin.
I am totally disagree! Transaction fees and transaction times are getting ridiculous every day. We all dream that blockchain will be part of life but how will you buy little things like cost a dollar? You will have to pay 25 times more transaction fee. As long as bitcoin dev doesn't solve this problem, it will effect its own future.
Of course it's an interesting opinion. I think such a price for a transaction - is very unjust. But I don't even know if it will decrease. We'll see this year.
Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
of course they are for bitcoin can not exist without function. we can not provide the processing power to implement and multi confirm a transaction. those who support the network have to be paid for providing a service this valuable.
The bitcoin transaction fee would be a bit okay if the transaction confirmation speed/time could be 2seconds per confirmation.
You pay higher transaction fee and you wait forever for your transaction to be confirmed. This is not fair at all
You pay higher transaction fee and you wait forever for your transaction to be confirmed. This is not fair at all
Actually It's not fair at all, but very necessary. When Bitcoin started the price was low, people usually transferred bigger amounts of Bitcoin and also since the network wasn't busy. The fees were low per kilobytes and small compared to the money transferred. So now that Bitcoin is big and making a lot of people transfer really smaller amounts of Bitcoin. Though if the fee would be the same per kilobytes now there are more smaller inputs and smaller amounts are send out of Bitcoin for the same number of dollars.
Bitcoin transection fees is not a bigg dill i think .Because bitcoin crypto currency transection fees are so cheep.when you earn some amount of token or crypto and then you think to convert into in bitcoin.In that time the covertiing time the fees is so small.Because that time you going to get a big profite from them,then the transection fees is not fair from you.
The topic is not about the fees when converting altcoins to Bitcoin. These fees is nothing comparing to the fees paid while you make a transaction between two addresses (buy something on the Internet...). I know someone paid ~$6 for a transaction of ~$60 which is too high, maybe it is due to small output but still high..
Bitcoin transection fees is not a bigg dill i think .Because bitcoin crypto currency transection fees are so cheep.when you earn some amount of token or crypto and then you think to convert into in bitcoin.In that time the covertiing time the fees is so small.Because that time you going to get a big profite from them,then the transection fees is not fair from you.
its not fair. bitcoin has pump its value. therefore transaction fees also increase in value. i believe that we can send money in almost no fees by using bitcoin, but i think this thought become no sense at all. 
Maybe some of us will feel that the transaction fees aren't fair, I also felt the same way before. But if you will think about it, you will see that it's normal for the rates to get higher when BTC price is increasing. The movement on BTC's value indicates how demanding it is. The higher the demand, the higher the price, the more congested the blocks are. That's why it is more expensive now than before. But you still have the choice if you want a lower fee, just expect the confirmation of your transaction to be slower.
The transaction fee of bitcoinas of now is not fair because before the fee is fair when you send how much bitcoin the fee is less than 20k satoshi before. But as of now. The trasaction fee is depends on how much you send bitcoin if you send bitcoin high amount for sure the fee is high but even the fee is high it takes more time before the transaction confirm and before you use your bitcoin.
It was probably mentioned numerous times in this thread, but it depends on the mempool size. When there are a LOT of BTC transactions, they all wait in a memorypool, the miners will always look for the most profitable transactions which are the ones with the highest fees.
If you look at the mempool chart near December 22nd, 2017, you will see that the amount of transactions were very high and the fees were also high. People that had a BTC transaction with a low fee had to wait for hours/days to get their transaction completed...
If you look at the mempool chart near December 22nd, 2017, you will see that the amount of transactions were very high and the fees were also high. People that had a BTC transaction with a low fee had to wait for hours/days to get their transaction completed...
Transaction fees are critical to any cryptocurrency ecosystem. If the costs are too high to send transactions, users will look for alternatives. Bitcoin Cash is clearly cheaper than Bitcoin right now. However, that doesn’t mean BCH is better than other currencies by definition. In fact, it is the more expensive altcoin when compared to Ethereum and Litecoin right now. This is another interesting “flippening” aspect, to say the very least.I really bitcoin transaction fees are fair in contrast of other cryptocurrencies.
That is the downside of bitcoin value continuously changing or we say is not stable. Well, mostly people who sell thing always think that they will earn money way too far from what we think. Also, if you would put your feet on their shoe definitely you would also do the samething to earn or else you would lose. That is a win-win situation, you should always make a good and marketable move since bitcoin value continuously changing. All in all, if you really would like to earn something do something beyond the usual even it means unfair for others but do not abuse such situation do it moderately.
miners control fee and they ask for None legal fee.
bitcoin fee is so high because network is so busy when network back normally fee will back also.
we must wait more to see that
bitcoin fee is so high because network is so busy when network back normally fee will back also.
we must wait more to see that
Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
Definitely it's fair price, as yoou can see when bitcoin falls there are many buyers and investors are rush selling, when bitcoin price go high is still valid, how can you can say it is not fair? It's 2018 already and lot's of sellers, holders, traders don't act any uncessary movement. Well that's the cycle of life of bitcoin.
For me it's kinda between fair and not fair, Every time bitcoin achieves a record high price bull rushing the fees are automatically become high and that really hurts a lot if you only have few bitcoins/satoshis on your wallet. But for the security that bitcoin blockchain gives for the past 9 years it's kinda fair for me.
Comparing with alter coins specially ETH it is not fair. The BTC fee is really high with demand and quickness.
I think it should be reduce.
I think it should be reduce.
Yep, you are right. Bitcoin transaction fees is very high compared to Ethereum, these all comes under same crypto currencies but has different charges. Hope bitcoin team will check the feasibility to reduce the charges by making blocks easy in future like ethereum.
Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.
Definitely it's fair price, as yoou can see when bitcoin falls there are many buyers and investors are rush selling, when bitcoin price go high is still valid, how can you can say it is not fair? It's 2018 already and lot's of sellers, holders, traders don't act any uncessary movement. Well that's the cycle of life of bitcoin.
Everything will feel reasonable if the transaction costs do not see the size or size of the transaction because the transaction costs are felt at this time will be very good if we make big transactions as well. If all transactions equate both transactions in large and small amounts of transaction costs that Do not change then it's a new so-called fair.
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