Topic: Is bitcoin transaction fees fair? - page 39. (Read 36260 times)
Bitcoin transaction fee was really unfair until a month ago when transactions with very high fees are only confirmed fast and low fee transactions were left unattended.But now,thanks to segwit,after it has been activated since august 1,transaction fee has become low as it was before and now even transactions are confirmed very soon.Some went to the extent of even predicting that bitcoin would soon die due to high transaction fee problem.But now,bitcoin has started to march towards $5000 price.
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.
This does seem to be a pretty big problem. When the price of Bitcoin rises, the price of transaction fees become more and more expensive. This makes Bitcoin look more and more for the wealthy as the price rises since no one will ever pay 10 dollars for a 100 transaction.
This also discourages Bitcoin from becoming a mainstream currency since the blockchain will become even more congested and Bitcoin will be unusable.
unfair for me, as i am a small bitcoiner, big transaction fees are too big to be paid, but as a bitcoiner, i will think that it is really necessary and needed but still i'm still hoping that the transaction fees will be lowered in order for us to accommodate the transaction fees.
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.
Everyone who use bitcoin wanted the same thing, the price become higher and the fees become lower, And I think It would happen when the users are also growing and the mount of transaction increase every time. So the miners get low money, but more often. And its still fair right now I think, because you can easily sent money to everywhere in the world with that fee.
The way fees are dominated are on the progressive method depending on your transaction side, with the current bitcoin bump, I have to admit the fees are getting more and more, but in the same way that's just for the network and demand for places in block to decide, I guess.
For now i dont care for the high fees services as long as bitcoins transactions is faster and reliable. I would gladly pay higher if i could receive my bitcoins in just 1 day not within 3 days.
When transaction fees are really hindrance in using bitcoin, might as well use the fiat money instead of bitcoin and only use bitcoin for investing, trading, or gambling where you make a pre-planned amount of bankroll or investment to transact.
The way fees are dominated are on the progressive method depending on your transaction side, with the current bitcoin bump, I have to admit the fees are getting more and more, but in the same way that's just for the network and demand for places in block to decide, I guess.
For now i dont care for the high fees services as long as bitcoins transactions is faster and reliable. I would gladly pay higher if i could receive my bitcoins in just 1 day not within 3 days.
The way fees are dominated are on the progressive method depending on your transaction side, with the current bitcoin bump, I have to admit the fees are getting more and more, but in the same way that's just for the network and demand for places in block to decide, I guess.
This is a problem. Fees should fall and fall, but instead they climb and climb. I dont care really since i'm not transacting so many coins
I don't think that its a problem at all because transaction fees can be adjusted at your preferred price depending on the level of priority of you want. Some wallets have given you the freedom to adjust the price of transacting your Bitcoin and some wallet even have no transaction fees if you are transacting to the same wallet provider. Also seeing the fees of Bitcoin transactions I doubt that it would really affect our funds that much.For people making many transactions, it is frustrating a little bit. I remember few services was offering few ''free'' transactions for their customers which was stopped lately due probably to the rise of the fees. I remember few years ago, I was able to pass some tx without fees (it isn't a good thing for bitcoin yeah), or for now sometimes a standard tx fees could stuck for a while. Increasing the block size could be a solution? I think yes especially after the next halving if the price didn't get adjusted correctly
This is a problem. Fees should fall and fall, but instead they climb and climb. I dont care really since i'm not transacting so many coins
I don't think that its a problem at all because transaction fees can be adjusted at your preferred price depending on the level of priority of you want. Some wallets have given you the freedom to adjust the price of transacting your Bitcoin and some wallet even have no transaction fees if you are transacting to the same wallet provider. Also seeing the fees of Bitcoin transactions I doubt that it would really affect our funds that much. 
This is a problem. Fees should fall and fall, but instead they climb and climb. I dont care really since i'm not transacting so many coins
I think it is fair at the moment, now that the fork is done, transactions have become faster. I remember that before the fork i had to wait around 40 minutes to have at least one confirmation (paying high fees). Now the transactions take ten minutes max to have the first confirmation, even with low fees. I think fees are fair, even if you withdraw from an exchanger or any other site, the fees are probably lees than 0.00015 ($0.60)
Man you get loads of return on your investment because of Bitcoin price and you care about those cents meh 
At first I believed the price was unfair, maybe due to the fact that we weren’t being charged at first. But after some time, I reasoned out a few cents is a little to pay compared to the amount of profit we make from the platform, though not everyone. But I read that the price will still be increased, so if they do that it will be unfair. 
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 in that case as one of the community in this industry, we do nothing about it. In fact, in every exchange site platform they are not the same percentage in every transactions that you/we are going to make, like correct example in yobit they will charge you with a
minimum 0.001BTC while in bittrex there minimum charge was 0.001BTC, but whether they charge you high fee's I think that would be fine if you will withdraw a huge of bitcoin but if not, that's the problem.
I am glad of how the adjustments was made ever since the transactions got faster.
I dont even feel the fees anymore when I am using electrum.
The good thing is you could adjust it more to the lower price until it is very low per kb. I dont really much care about the transaction time for I am not in a hurry.
I dont even feel the fees anymore when I am using electrum.
The good thing is you could adjust it more to the lower price until it is very low per kb. I dont really much care about the transaction time for I am not in a hurry.
That is right. In Eleectrum, I just set it to dynamic and have it 150% to the ideal transaction fee so that I will be sure that it will get through the soonest. But when I am not in a hurry, I will just get manually set to the daily suggested transaction fee base on bitcoinfees21co
Man you get loads of return on your investment because of Bitcoin price and you care about those cents meh
I am glad of how the adjustments was made ever since the transactions got faster.
I dont even feel the fees anymore when I am using electrum.
The good thing is you could adjust it more to the lower price until it is very low per kb. I dont really much care about the transaction time for I am not in a hurry.
I dont even feel the fees anymore when I am using electrum.
The good thing is you could adjust it more to the lower price until it is very low per kb. I dont really much care about the transaction time for I am not in a hurry.
For me, Bitcoin fees currently though they have reduced from what they were earlier this year. I still find them to be ridiculously expensive. When I bought my first bitcoin, the fees were very low and that was what was promised and that was the gospel being preached. Right now, we cant say the same otherwise we would be misleading newbies.
True - but remember you can always use alts or bitcoincash to move money, especially if you are moving coins from exchange to exchange. The only time you need to pay bitcoin fees is if you are moving coins from your own wallet.
My e-wallet too, until this year, did not take money for transactions bitcoin at all. Then the fee per transaction was 0.0009 BTC and 0.0005 BTC now. I think that it is expensive and not conducive to the development of trade.
For me, Bitcoin fees currently though they have reduced from what they were earlier this year. I still find them to be ridiculously expensive. When I bought my first bitcoin, the fees were very low and that was what was promised and that was the gospel being preached. Right now, we cant say the same otherwise we would be misleading newbies.
BTC fees are too expensive for normal bitcoiners
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