Topic: Is bitcoin transaction fees fair? - page 33. (Read 36260 times)
Of course bitcoin transaction fees are fair. They're fair because they secure the network by incentiving miners to do their job and their fair because you get to use an immutable ledger to transact on. They're minimal compared to fees we pay with western union, credit cards, taxes, etc
unfortunately the fee is indeed fair; its the result of a mostly democratic process. the rub lies in the way we are misusing the protocol, at least per its original intention. we werent supposed to see these price levels, at least this quickly, and we also werent supposed to see the much traffic at this point. this was never intended for all that. in fact, I dont think corporate adoption is even feasible via Satoshis model until AFTER all block rewards are issued. any serious corporate adoption (the mere beginnings of which we are seeing now), will do exactly what is happening to the network now. we have a ways to go before the big leagues, if we even make it.
I'm perplexed, why transaction fees bitcoin is obtaining larger, used to deliver and get costs on the XAPO for free, but now I have to say is fairly expensive, it's what can make us be reluctant, if the person proceeds to improve, of program the price is more substantial than the financial institution.
it truly is subjective, nothing at all is about reasonable or not, this is just an investment decision for the miners, they (with the halving) misplaced a big part of their profit and with the existing tide of transactions in bitcoin, they are attempting to get far more with people willingness to shell out higher expenses to be provided earlier,I never concur on segwit and many others... since that will damage bitcoin principles instead than just remedy this issue, there is also a chance of greater part of main builders leaving bitcoins and forking yet another coin and so on... Â in quick, I prefer a significantly less controversial remedy.
For me it is not, the fee is so high. The appreciation of Bitcoin price should reach high before an investor could actually take notice of the return of investment when traded.
Well! You are right but I think it is not so much high the price and the profit of the bitcoin are also increasing. A lot of people are using bitcoin and they are investing in bitcoin so that they are expecting good profit so as we know that ‘no pain no gain’ so if you want fast and easy transaction as a lot of people are enjoying you will have to pay a specific transaction fees so that you will not have to wait so long for the conformation of the transaction.
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'd say fair is a good term for the bitcoin fee, when compared to things like bank transfers and other transfers, it is considerably low. I think it is a fair price especially when comparing to other means of moving money large or small, the speed is typically much faster, 90% of the time it is cheaper to transfer using Bitcoin. All around it is just better. 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.
Although I do hope that eventually with time and more transactions that the fee will not rise any more or require more bytes fee per BTC sent. I think it is fair but could become worse into something un-fair.
Aside from the very fast transaction, it is also in anonymity - this is what makes it very valuable and I would pay bigger transaction for that as much as I can. Here is the thing, with typical fiat money transaction online, you need to first undergo some identification and all that and it takes some time complying them all before you can start transacting in an instant
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'd say fair is a good term for the bitcoin fee, when compared to things like bank transfers and other transfers, it is considerably low. I think it is a fair price especially when comparing to other means of moving money large or small, the speed is typically much faster, 90% of the time it is cheaper to transfer using Bitcoin. All around it is just better. 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.
Although I do hope that eventually with time and more transactions that the fee will not rise any more or require more bytes fee per BTC sent. I think it is fair but could become worse into something un-fair.
For me it is not, the fee is so high. The appreciation of Bitcoin price should reach high before an investor could actually take notice of the return of investment when traded.
Well! You are right but I think it is not so much high the price and the profit of the bitcoin are also increasing. A lot of people are using bitcoin and they are investing in bitcoin so that they are expecting good profit so as we know that ‘no pain no gain’ so if you want fast and easy transaction as a lot of people are enjoying you will have to pay a specific transaction fees so that you will not have to wait so long for the conformation of the transaction. 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 its simple thing , when bitcoin price raise that satoshi number will raise too and that is you paying more for fee but i dont know that satoshi number will change or not atall ??
Bitcoin is the only currency that brings huge profits in a short time and I consider the transaction commission fair. Of course, you can choose a lower commission, but the transaction speed will slow down.
Bitcoin transactions are not only fair, they are as fair as you can possibly get. The system is designed to be fair. The price is at equilibrium and no individual or group can control them.
I think that it's honest in terms of service providers. All currencies always have different price, even fiat. So t's impossible to maintain exact price
I think that the commission for transactions is fair. Bitcoin is a currency that provides an opportunity to get rich in a short time and the absence of a commission or a low commission will be unfair.
That is correct. If you are already making lots of money because of bitcoin, it would sound fair if you even pay more transaction fees as a way to tip miners for their work which makes you cash out a possible.
I believe they are not. Even since the dawn of bitcoin, everyone said that you could, and should buy a cup of coffee with bitcoins.. and it may been realistic a few years ago when the tx fee was equivalent to pennis. Now its up to dollars.. and that doesnt really compute, since the idea behind bitcoin wasnt this in the first place.
For me it is not, the fee is so high. The appreciation of Bitcoin price should reach high before an investor could actually take notice of the return of investment when traded.
I think they are fair because they depend on the bitcoin price.
The reason behind these highly fees are the growing of bitcoins. You'll pay highly fees when the value go Up. But I don't call these fees as "HIGHLY FEES".You should always remember we're paying fee with Satoshi not with BTC , paying fee with satoshis are cheaper than the money services. Its not unfair. Try to send money via West union they applied UPTO 500$ AS FEE
What sort of logic is that? Are you saying that we must pay a higher fee, if the price of Bitcoin goes up? That is not fair. Suppose the value of Bitcoin goes up to $500,000 per coin (just like what John McAfee predicted). Do you still want us to pay a transaction fee of BTC0.001? I don't think that Bitcoin will be able to survive with a transaction fee of $500. And from where did you heard about the fee of $500 in Western Union? I have used WU multiple times. And the maximum fee I've ever paid is around $40.
The reason behind these highly fees are the growing of bitcoins. You'll pay highly fees when the value go Up. But I don't call these fees as "HIGHLY FEES".You should always remember we're paying fee with Satoshi not with BTC , paying fee with satoshis are cheaper than the money services. Its not unfair. Try to send money via West union they applied UPTO 500$ AS FEE
it is very unfair in every transaction need to pay high, in coins.ph if i send bitcoin worth 1000 pesos the tax or the transaction fees is almost 1/4 of my money. that why i dont use bitcoin now i rather use bank account because of the high transaction fees.
Even if you pay 50,000 satoshis as transaction fees, if bitcoin price is high then you will also say that there is a high fees. 50,000 satoshis can be worth $5 in the future or even more.
We are talking about bitcoin fees here so definitely whatever the USD value of it, still you will pay on bitcoin quantity.
it is very unfair in every transaction need to pay high, in coins.ph if i send bitcoin worth 1000 pesos the tax or the transaction fees is almost 1/4 of my money. that why i dont use bitcoin now i rather use bank account because of the high transaction fees.
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