Is bitcoin transaction fees fair? - page 2.

Sand King

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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.

I think that is not fair but it's necessary to make transactions. But I think that the fees goes to good hands and I hope that the services in transaction department will be more accessible and hassle free.

wilsonwilly1

jr. member

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The fees aren't fair for the senders considering how high it is and keeping on rising BUT it is how it works, we are the ones determining the fees by how high we are willing to pay to get included quickly - Since bitcoin has no set fees -.

diickydbo

newbie

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people prefer bitcoin over fiat since it has monetary value and also an investment. If you hold one dollar note you know you’re holding a dollar but If you own 1Bitcoin you can even predict the price the next second. That is why I would rather buy much bitcoin than hold more fiat.

kirito1614

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in the event that those exchanges are deficient and influencing the center, at that point the charge coming about the moderate affirmation which constrained us to pay more expense is uncalled for, if those are customary exchange, it is reasonable by its weight. I don't generally comprehend why we would need to pay such a high measure of exchange expense these days.

Alex_He

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The factor is the poeple usually complains that the cost is quite large but in reality the cost remains the same as the long-rising bitcoin price tag, just because the price tag we've seen, and makes sense because bitcoin has become so common that miners have more operations to do and more deals to confirm, but still some purses get a lot of fees and transactions even now sluggish.

heureca

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I think that BTC transaction fees should be enough to provide profit for miners. Nobody will work and spend resources without payments for his job. So current transaction fee is adequate and correlate with miners costs.

jhache

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Few months ago it wasn't fair at all but currently I think the Bitcoin transaction fees is fair enough, for few cents I'm able to transfer my coins. And with lightning network and segwit launched its only going to decrease with the increase in their usage. You wont have to face the same high fees condition again once segwit is adopted by everyone.

Rollkal

newbie

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We are a trader so I do not care if the price is fair or not. I only care about high or low Bitcoin prices. Sell enough to make a profit. In my opinion you should analyze the market price should not be compared to the calculation in the Crypto market.

UCHCHILD

sr. member

Activity: 490

Merit: 250

Quote from: bishnoi on April 15, 2018, 01:13:52 PM

obviouslly bitcoin transaction fees is fair because bitcoin gives us too much so we also have some responsibility so thats why this fees is totally fair

The fee has not increased, its only the value has increased. The amount of tx required for bitcoin transactions is same as before but since bitcoin value has increased a lot, if we convert that small tx value in USD, it comes out to be quite high and is not suitable for transactions having small amount.

tikaka

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I agree, the fee for bitcoin deal is not fair. why, we have to pay a higher fee for payment when the bitcoin price increases. This is really unfair for bitcoin users and investors. Due to high fees, we usually limit the use of bitcoin to small payments because of the high cost. I hope in the future there will be changes the fees of bitcoin.

portgas313

full member

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For me, anything that charges about 2% for every transaction would be fair, especially if it confirms in real time. Now if bitcoin transactions can be made faster without increasing the fees too much then it is like fairy tale come true. But there are those who are benefitting from these high fees and they are not going to let go of such earning opportunity that easily.

signup01

sr. member

Activity: 602

Merit: 250

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.

it is not fair to return again with the capital that we have if we do the mining of course also have and requires a large cost and capital that I think

ondabeat

newbie

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one of the promises of bitcoin is low cost, but now we have to pay the cost and cost per byte not even adjusted to market price, what we need to do is arrange and approve the dollar value of cost, not the value of satoshi / bitcoin.

Collinberg

member

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Collectrix-Bridgin the physical and Virtual worlds

This is definitely a problem I personally encountered when bitcoin price was high,there was a time I spent $25 just to send $200 worth of bitcoin to a friend,but with the reduced price of bitcoin now,we no more encounter such issues anymore.

BillyTalent

full member

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You explained a little confusing. But still, if I correctly understood your scheme is not configured for people who are just beginning to trade. These people usually do not have much money and it will be difficult for them to pay a large commission

quovadiz

full member

Activity: 253

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Quote from: ?? on ??

for now it is not fair because in many exchanger the transaction fee are too high and so expensive even the conversion fee are too expensive, thats why many of the users find a low transaction fee exchanger.

A year back, transaction fee was very reasonable, we were able to use bitcoin even for buying a small item, but now it has become difficult to buy cheap items using bitcoin, because some time we have to pay more transaction fee than the actual price of item, i think that it should be revised and bring to a fear value.

Nitnit13

newbie

Activity: 126

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Transaction fees of bitcoin is reasonable compared to other payment gateways. It is one of the wonderful features from Bitcoin. Why still people are thinking like transaction fees are fair or not. Based on the amount, the transaction fees are varies, it's truth.

Julifernendez

newbie

Activity: 87

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More than bitcoin price rise is the spike in bitcoin use, before the default fee was 0.0001 and it was enough, but right now the fee for getting include in 3-4 blocks is averagely around 0.0005 which is around x5, let alone with the x6 increase in price, collectively we are paying a huge fee compared to before...

jkinit2125

jr. member

Activity: 182

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NTOK: Tokenize Your Talents

The problem occurs because the transaction fee of bitcoin network is fixed. With its quantity, any changes its price would technically change also of transaction fee. At some point, it is indeed a negative thoughts cryptocurrency enthusiasts having bitcoin high fees, yet it will become immaterial once bitcoin to be send is much higher.
There are also a lot of alternative coins that are at high value yet low transaction costs, which gives them transaction fee perspective plus points.

bishnoi

newbie

Activity: 98

Merit: 0

obviouslly bitcoin transaction fees is fair because bitcoin gives us too much so we also have some responsibility so thats why this fees is totally fair

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