Topic: Is bitcoin transaction fees fair? - page 4. (Read 36260 times)
Right now I'm really stuck with the transaction fee. Because I'm a poor person and $ 1 to 5 $ is a great thing I'll exchange it with our country's money. So the transaction fee for me is not fair but because we can not do it
Now the fee does look unfair. Because the greater the fee incurred because we must be able to conduct transactions in a fast time. There must be a solution to make things better.Fee shouldn't be treated like a miners incentive to confirm the transactions after all miners already earning good amount of bitcoin for whatever they are doing.
Many users are not happy with high fees, some even so much that they want to quit using Bitcoin. Fees are required by the miners to be able to make more profit, because their profit from mining is not enough for them because they need for maintenance. So I think fair because everything makes sense.
For me, small fees won't hurt, however nowadays wherein a lot of people are already using bitcoins, they couldn't refuse to charge bigger. But as long as it is reasonable, it's fine, not just too high that people will begin to think that it's already too much because if that's the case, the tendency will be people will start doubting bitcoin, and we wouldn't want that to happen.
If you used Bitcoin for global transaction or huge amount of money need to send for someone, I think a small fees of Bitcoin is nothing for total benefits you got from Bitcoin. You will need to verify your amount when you send a huge amount of money to someone and need to pay a lot of money for the transaction fees if you use bank services to transfer money to other countries on the world.
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 -.
I think it is fair. bitcoin fee was very low at the beginning of bitcoin released.
why ? because bitcoin value itself was low.
now bitcoin value is high, then no wonder the fee high too.
why ? because bitcoin value itself was low.
now bitcoin value is high, then no wonder the fee high too.
you may say the cost is very expensive and unfair if bitcoin is only in your country only and is only used by the people in your country, do you think like this bitcoin does not live in society that exist in your country only, you know that bitcoin covers all countries that have currency of different value, you will understand that later
For me, small fees won't hurt, however nowadays wherein a lot of people are already using bitcoins, they couldn't refuse to charge bigger. But as long as it is reasonable, it's fine, not just too high that people will begin to think that it's already too much because if that's the case, the tendency will be people will start doubting bitcoin, and we wouldn't want that to happen.
Basically, we were sort of tricked into believing the fees would be low forever, however, they will likely become comparable to current transactions when BTC gets mainstream.
when the price of bitcoin is going high, the amount of transaction fees in btc is just the same but the corresponding value of it is big when the price is high. Hence, nothing really change and all you have to do is to transact less as much as you can.
The fees are fair in the sense that we are all competing equally for that block space but it doesn't mean the blockchain is useful for most daily transactions as it was originally intended. If nothing comes of the latest scaling compromise I think we will eventually see fees in the 500 satoshi/byte range.
It's not fair but it is also reasonable, high fees are just because of the increase in price of bitcoin. This has to be done to preserved the balance of the industry especially for the miners. Tho in the past bitcoin has low transaction fees because it's price is not that high compared to the present.
i think it is only fair that our wallet provider should get tansaction fees so that they will have additional funds to continue their operations. The only thing that is not fair is that there are transaction fees but the transactions are eating too much time before it succeeds.
Bitcoin transaction fees are only fair if your transaction is big but if you will only send 0.01 and you need to pay for 0.001 for the fee then that's unfair. And sometimes even if you pay a highers fee the transaction still takes time and that is frustrating.
The transaction fees are really high to transfer bitcoin. I hope they scale properly to have transaciton fees lower if they want bitcoin to be used as a world wide payment system.They are definitely working on this.
A lot of crypto charges are simply exorbitant and totally unacceptable. To charge for gas more than the transaction even intended is an abnormality witnessed in the crypto business.
dont worry about it, let the miners work and we have to support it by helping them with a rather expensive cost so that everything runs stable 
Well personally, i think it is fair and it is necessary. I know that the transaction fees can be really high depending on the amount you are going to move but if you think about it, this fee is still cheaper that what you need to pay for the fees of Paypal, Western Union or other money transfer companies. Necessary because these fees are for a smooth and efficient transaction that we need to do.
If you compare the Bitcoin transaction fees to the transaction fees of business services like PayPal, Western Union, you also knew the transaction fees of Bitcoin is very cheap if compare against these services. Total time to receive money from Bitcoin is better than WU (Western Union) and slowly than Paypal. Of course, Paypal is a centralized system, it does not need to have much confirm in system like decentralized system.
If we look at current transactions may not be fair. The transaction fees of Bitcoin depends on the number of transactions on the Bitcoin network. However, the problem is that there are transactions that are taking 12-24 hours and that is too much. We are paying fees cause we have to support this industry and keep it working in a decent way. The higher the fee, the faster the transaction. They always prioritize such transactions.
If bitcoin transactions are faster, efficient and safe, i would rather believe the fees are fair enough. I won't compare bitcoin trsnsaction fees with much lower fees but the service is slow and not even safe. It is incomparable with others which do not provide the technology which provide faster results.
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