Topic: Is bitcoin transaction fees fair? - page 21. (Read 36260 times)
I think the bitcoin fees are getting higher and higher, I think that's unfair, I think this is the biggest obstacle to getting bitcoin into a shipping channel.
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.
I think so. For something that is as valuable as bitcoin it should only meet the fair and enough price when it comes to transactions. We have to be thankful that bitcoin's value is high because we are the ones who benefit it. Now, we also need to give credit to the developers and programmers who caters for bitcoin transaction for maintaining it and making it more secure.
It may be logical, but I will not say it fair. Because if you want to deal fast in any case you must pay some fees. And if you have to pay that money you will have to give it to your own hands, because the pocket itself can not give the money. So I think the network will be improved from the past and the transaction will be easier and there will be some advantage.
Bitcoin trading is fair, it's unfair because it's a very long time and costs a lot
The clash of Bitcoin Core x Bitcoin Cash still brings reflections on the network. According to blockchain.info, the Bitcoin network registers more than 90,000 pending transactions. Although high, the number shows a tendency of normalization in the network, since at the weekend the numbers reached more than 140 thousand pending transactions.
After the cancellation of the SegWit2x hard fork there was an expectation that the more serious problems of the network were - at least temporarily - overcome. But that was not what happened, as part of the fork's supporters began to adopt a kind of plan B: Bitcoin Cash.
In a few days, much of the Core's mining power was redirected to Cash, which came after a fork in August. This contributed to Bitcoin Cash's expressive high, and Bitcoin's downfall (Cash was traded at $ 2,500, while Bitcoin fell from $ 7,800 to $ 5,500 over the weekend, November 11 and 12 ).
After the cancellation of the SegWit2x hard fork there was an expectation that the more serious problems of the network were - at least temporarily - overcome. But that was not what happened, as part of the fork's supporters began to adopt a kind of plan B: Bitcoin Cash.
In a few days, much of the Core's mining power was redirected to Cash, which came after a fork in August. This contributed to Bitcoin Cash's expressive high, and Bitcoin's downfall (Cash was traded at $ 2,500, while Bitcoin fell from $ 7,800 to $ 5,500 over the weekend, November 11 and 12 ).
It is not reasonable for such great charges and I too compensated in previous time $10 for $150 deal. When Bitcoin cost was low the fee too low, I am using this bitcoin from last two months, but when it was around $3500 as the fee was too low in those days, but now I can't pay whose funds are less than $1.
The only factor is there are 2 kinds of dealings one is quicker that need to pay great fee and the other one regular, which needs little bit of fee.
The only factor is there are 2 kinds of dealings one is quicker that need to pay great fee and the other one regular, which needs little bit of fee.
I onced send .002 btc (this past October) to other's account then I was shocked when the total amount I will need to pay was .004 btc, so it means that half of it is the transaction fee! Even though this is a little bit unfair, I still send it because I don't have any choice then in less than 2 hours, the recipient already reaceived it and I'm glad for knowing that.
That's not fair when it comes to money but you will save time in return, you are still benefited right? So I think high transactions are fine with me as long as bigger payments are equal to faster transactions.
That's not fair when it comes to money but you will save time in return, you are still benefited right? So I think high transactions are fine with me as long as bigger payments are equal to faster transactions.
Several people will argue on this, some will say it is not, miners will say it is cheap, but remember fees are driven by demand of people who is doing the transaction. If more people are paying higher fees then the fees will really get high. I guess miner should not be blame on this but rather people who are sending transaction should have a consensus on how much they should be sending as a fee.
That is really the beauty of bitcoin - it lets the whole community decides on its fate when in terms of transaction fees is so concerned. If bitcoin holders will all pay a smaller amount, it will become so but people who are in a hurry will really just prefer to pay higher fees for fast transactions.
It's true, if you want to have a faster transaction there will be charged higher.
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.
NO ! for sure , I can enumerate few exchanges that have high fees , cryptopia/tradesatoshi/coinsmarkets 0.002 BTC = 19.3 $
Several people will argue on this, some will say it is not, miners will say it is cheap, but remember fees are driven by demand of people who is doing the transaction. If more people are paying higher fees then the fees will really get high. I guess miner should not be blame on this but rather people who are sending transaction should have a consensus on how much they should be sending as a fee.
That is really the beauty of bitcoin - it lets the whole community decides on its fate when in terms of transaction fees is so concerned. If bitcoin holders will all pay a smaller amount, it will become so but people who are in a hurry will really just prefer to pay higher fees for fast transactions.
More reasonable than ever before that takes a higher cost for each transaction. Rced quantity or high it doesnt alter other than if you use purses that have choicus to change it.Good factor this happened prior tedmuch more users stop into utilizing bitcoin.The low the fee the better otherwise they will use those money transfer companies that offers low fees. oe
In my opinion it is not fair at all because i pay a lot fee if i just want to trade a small amount same goes for a big amount last time i almost payed one whole bitcoin as a fee price that is abnormal.
Several people will argue on this, some will say it is not, miners will say it is cheap, but remember fees are driven by demand of people who is doing the transaction. If more people are paying higher fees then the fees will really get high. I guess miner should not be blame on this but rather people who are sending transaction should have a consensus on how much they should be sending as a fee.
Bitcoin is getting so expensive that we send small fractions of Bitcoins and the fees is too large for very small amounts of Bitcoin. I think this is where altcoins can be helpful. Altcoins can be used for small transactions while Bitcoin could be used to move large sums of money. This way Bitcoin and several altcoins can exist at the same time. Kind of a symbiotic relationship and the miners can keep getting paid.
No my friend,
I think bitcoin transaction fees id is not fair currently because of I want to process a transaction worth $100
I need to pay atleast $20 to process the transaction....
Currently it is not Okay...
I think bitcoin transaction fees id is not fair currently because of I want to process a transaction worth $100
I need to pay atleast $20 to process the transaction....
Currently it is not Okay...
May be not 20$) I think average BTC transaction fee is about 5-8 $. Of course there a lot of criprocurrencies like DGB with very small transaction fees and it is preferably to use it.
You are using Bitcoin, therefore, the Bitcoin miners and Bitcoin system use Bitcoin is the unit to calculate transaction fees.
Beside that, transaction fees depends on the total size of your transaction, more inputs and outputs, you need to spend more fees.
What will happen when bitcoin reaches $100k value and those 70.000 or 80.000 satoshis (transfer fees) are worth around $70 or $80 each?. The people who are new or are poor and are just going to start with a small amount of BTC wont be able to move their BTC anywhere due to such a high amount of dollars per transfer. Yes, I know the miners charge a % of BTC, but still it will be too high (in terms of US dollars) when the BTC reaches 100k or more. Poor people wont be able to buy and move BTC. 
Have anybody thought about this?
Have anybody thought about this?
Bitcoin transactions fees previously very low.last week i transferred btc to my friend,i checked the transactions fees are high.i think recently bitcoin,bitcoin charges are increased.
Equal to the main value of bitcoin. the value of bitcoin is increasing. That is a fact everyone must accept. and there is no justice. There is no justice in the economy
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.
If you are saying that at low price of bitcoin, then there should be a high transactions fee, reason your say properly. If the fee is higher than the amount you are transfering when the price is low, and the fee is low when the price is high, then means no one would have come into bitcoin from when the price was low, and if no one had come in at that time, there will be no way the price will rise.
Just like in banks, in my country, when you make a bank transfer of $10, a $1 transaction fee will be charged and if you make a$100 transaction, you will be charged $10. It's same thing happening here.
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