Is bitcoin transaction fees fair? - page 19.

8Habits

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Quote from: Matthewmorris4 on December 05, 2017, 06:18:20 PM

Quote from: nikola22 on December 05, 2017, 06:04:58 PM

Quote from: ?? on ??

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

That's why some member/people here always advice to investment bitcoin, the price of bitcoin day by day is always increase, so I think it is worth the amount of bitcoin that we withdraw
If you want low fees transaction, then just use doge or ltc, but before that you also need to calculate the result after you change your bitcoin into altcoin between those exchange

Just a little tip though, avoid executing unnecessary bitcoin transactions to avoid the transaction fees - if you can use fiat money in your little purchases, use it and just hold bitcoin because its amount is going up while fiat money value is always going down due to inflation.

Matthewmorris4

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Quote from: nikola22 on December 05, 2017, 06:04:58 PM

Quote from: ?? on ??

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

That's why some member/people here always advice to investment bitcoin, the price of bitcoin day by day is always increase, so I think it is worth the amount of bitcoin that we withdraw
If you want low fees transaction, then just use doge or ltc, but before that you also need to calculate the result after you change your bitcoin into altcoin between those exchange

nikola22

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Quote from: ?? on ??

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

Dudeperfect

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I must admit that I have paid huge fees for some of my transactions and it was painful but as we know that even after 7 years, Bitcoin is still in the development phase and may take some more time to get that stability. The prime USP of using Bitcoin is the lowest fees as compared to that of traditional fiat infrastructure but sometimes when the network gets overloaded, there is nothing that we can do other than paying high fees.

Hobo66

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I would say the bitcoin transaction fees are high, in some
bitcoin online bank the fees or 0.0009btc goes up to 0.001btc as well.
the lowest fees I pay is by using the bitconnect online wallet at 0.0004btc per transaction.

Waleed rose

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The prices of bitcoins is rapidly growing up and have reached at the record level ithe price 1 BTC is about $9949.0 and is still going up with this Price the transaction fee is also increasing but it seems fair because the miners deserves this fee and this is not a huge fee because the prices of bitcoins is high and in front of this price the transaction fee seems nothing that's why the transaction fee is fair.

SupportBitcoin

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Quote from: shield132 on April 26, 2017, 02:58:00 AM

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.

The fees can be adjusted down if your willing to wait longer for your transaction to confirm. I just have patience to avoid higher fees.

RichNee

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Fairness does not exist even in my dreams, why are you still dreaming? The whole crypto business is about make rich richer and poor poorer.

vudeptraihpv

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quite high, for small investors like us. Every transaction is expensive. You lose more than $ 20 for a transaction, and you have to wait for it to finish within 3 days. very difficult

Vadimvasily

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Yes, many people are too greedy. How much they do not have the opportunity to earn it is only a little more and complain. So is not too much

Lingqingyi

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Now, poundage is too high, small is not suitable for the real deal, if is the big deals can also ignore this little fee, but need to be more reasonable way to reduce fees.

choppork

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Bitcoin transaction fee can be chosen. You can choose between low, medium, or high priority. Obviously, the one with the higher priority has a higher fee. You have the ability to choose amongst those. In terms of the fee in the amount of bitcoin, I think it's only fair that we are paying that amount of money to transact. It's not like you are transacting 24/7. Personally, I transact only a couple of times per month and I think the fee is perfectly fine for the privilege that we get from using bitcoin. We are making a large amount of money in here and I can that it is a fact because based on how much signature campaigns pay, then it's already a good amount of money assuming that you didn't stop participating in them. Only those that don't make money from scratch or plainly just have bitcoin but don't really earn any bitcoins are the ones that might find bitcoin tx fees fair but those that are making money knows that it's only a little price to pay.

nick_nick

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Quote from: Amph on April 26, 2017, 03:04:40 AM

remember that are not the miners that make the fee, they could accept even the lowest fee if everyone was using the lowest one and reducing the average, it's up to the peple that decide what fee to use

if for example everyone start now to lower his fee the average would be like the old 10k satoshi per transaction, but instead everyone is rushing to have his/her transaction prioritized and this is increasing the average, miners have no fault here

I perfectly agree with you. We should be mindful that bitcoin is a decentralized currency and nobody controls its regulation which includes transaction fees; and since everyone wants his or her transactions prioritized, fees charged for transactions are bound to increase

8Habits

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Quote from: Harrisonimo on December 04, 2017, 06:18:31 PM

Quote from: shield132 on April 26, 2017, 02:58:00 AM

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.

The bitcoin transaction fee is relatively fair with respect to the bitcoin wallet address being used. I know of recent times that we heard lots of complains especially when there was a lockdown on the blockchain network. Transaction fees rose up like the ways someone will expect one's bought ICO to rise. Also note the price of Bitcoin as at the moment, it is way high, so, those who make transfer on it will definitely do the maths and can tell if OK for them.

We have benefited a lot by holding bitcoins and we should not complain and be greedy enough to just accumulate more and leave third-party miners with less compensation with them verifying our transactions.

Ngehek

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yes i think, its not as much as what you get. and more expensive bitcoin price, more and more fee will get by exchanger

Harrisonimo

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Quote from: shield132 on April 26, 2017, 02:58:00 AM

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.

The bitcoin transaction fee is relatively fair with respect to the bitcoin wallet address being used. I know of recent times that we heard lots of complains especially when there was a lockdown on the blockchain network. Transaction fees rose up like the ways someone will expect one's bought ICO to rise. Also note the price of Bitcoin as at the moment, it is way high, so, those who make transfer on it will definitely do the maths and can tell if OK for them.

huynotientao

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Calculate each transaction you will pay at least $ 20. it's not fair. If you are rich you will not feel that way. Not only that, a transaction can take several days. you lose money. take time, why do you still want to trade bitcoin

tatum506

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It is quite expensive. and it takes time. with great deals. maybe you do not feel. However. With a small transaction of 0.00x bitcoin, you will incur an extremely large fee

skorupi17

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Quote from: shield132 on April 26, 2017, 02:58:00 AM

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.

Nothing in this world is ever fair and that's a fact. But we should consider here not just the price of btc because there are other factors that should be consider such as the number of transactions versus the number of miners. Besides we are the ones who set the price of our tx fees. And like what it was from the beginning, if you want your tx to get confirmed faster then pay a higher fee. But if you think that the price is unreasonable then maybe practice patience and wait for your tx to get confirmed based on how much you paid and don't complain.

8Habits

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Quote from: jikurpa on December 03, 2017, 06:21:37 PM

Quote from: shield132 on April 26, 2017, 02:58:00 AM

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.

for me personally low or high price is not the most important problem how we and our strategy in investing even in bitcoin many people who have gained much advantage in accessing bitcoin

That is correct and I could not agree more with you mate. Bitcoin transaction fees are nothing compared t your potential earnings if you d your homework well and you have formulated a solid trading strategy.

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