Many people on this forum said that the transaction fees of bitcoin is depends on the value of bitcoin at the time you have transaction.
Its the reality of life.
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Topic: Is bitcoin transaction fees fair? - page 42. (Read 36260 times)
I do not know if it is fair or not . But when all the transactions are wasted the same is really unreasonable. Every 1btc or 0.01btc transaction costs about $ 3, which is annoying to the user. And this, in my opinion, needs to be changed if btc is to become popular around the world.
Yes the btc fee's rising recently isn't encouraging actually many people to start using Bitcoin as payment processor unfortunately. Especially when using it for small transactions like 0.01 btc or less.
I do not know if it is fair or not . But when all the transactions are wasted the same is really unreasonable. Every 1btc or 0.01btc transaction costs about $ 3, which is annoying to the user. And this, in my opinion, needs to be changed if btc is to become popular around the world.
Yes, 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.
People are already having the convenience of using bitcoin and still, some are complaining about the bitcoin fee.. Just imagine how you can transact bitcoin in online transactions with ease and anonymity that alone is great value already and the fee is very little if we come to think of it.
If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.
There is no other choice. Some people may be having no issues in waiting 2-3 days until the payments get confirmed. But in most cases, the users will be quite desperate to move their funds and they will be forced to pay the high fees.
Sounds like the Brexit. We have taken our country back... but we're in such a deep shit right now we start to think it wasn't such a great idea:)
So we have finally shown the the middle fingers to those evil banksters and robbers at WU and we just found ourselves forced into submission by the mining cartel.
It's close to free compared to other payment methods/gateways
I've read that recently somewhere...oh there it is...
Yes, transaction fees of bitcoin is reasonable compared to other payment gateways.
Only if you go internationally.
In national transfers or SEPA banks still beat bitcoin at this moment.
Let's see after August 1st.
Yes, 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.
The fees are a problem to me also. The transaction fees ought to be fixed. But i this case it is a percentage to the amount. It is not fare. Miners has to do something about this high fees.
If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.
Main point of importance is that quite some people don't mind paying a relatively higher fee as they only work with larger amounts. Most of the people that keep complaining about the fees are those that send $10-$20 from one place to another. If you pay $2 in fees for a $20 value transaction, it seems like a huge fee. But if you transfer $1000 from one place to another, the same $2 fee will be nothing more than peanuts. People tend to exaggerate the fee situation, while in reality it all depends on how you look at it.
If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.
There is no other choice. Some people may be having no issues in waiting 2-3 days until the payments get confirmed. But in most cases, the users will be quite desperate to move their funds and they will be forced to pay the high fees.
If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.
I feel they are fair because of today's increased demand of bitcoin. The use of it has increased way lot more than one could imagine and the miners are having difficulty in solving the blocks due to insufficient or little backward tech support. The problem is network difficulty which makes miners to get more fees to process the request. More time to mine means more energy and time consuming process. So may be it's fair unless and until everything goes smooth.
Mining fees is not about the price of bitcoin. Mining fees are related to miners and the difficulty of network. They have got nothing to do how much money is being invested into bitcoin/ Miners have to cop up with the difficulty and the more it becomes the more fees you will have to pay for less or high.
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.
Right, compare with Paypal, you send a small amount, you pay a small fee. But in Bitcoin, it enables you to send a very big amount of money just need to pay a very small fee (compare with the payment size) so, Bitcoin is still usable when you make big paymentsDuring the early days of Bitcoin, it was supposed to be the other way around. Back then, the ease of doing micro-payments was considered as one of the advantages of Bitcoin. But with the current fee levels, it is no longer possible.
transaction fee is really fair.
Good to hear that you find the transaction fees is fair and square while the rest of the bitcoin world or the majority of users think that it is really huge as bitcoin's vision is not to be like this,it should be much lower than visa transactions or any other mode of transactions but sadly that is not the case now as you have to shell out more money.He said fair.
And yeah the fees are fair. It doesn't mean they are accessible or that your should agree with them.
The basic is that the fees are decided by the users not by some government or unknown entity.
Are people paying those fees? Yes they do. Are they willingly paying them, yes they do, nobody has a gin to your head.
And the fees just went up, fueled by the free market.
Fair and square.
Those fees are what the exchanges charge based on the simple and age old economic adage and principle, "Charge what the market will bear." People can afford to pay thats why they are charging the fee.
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.
Right, compare with Paypal, you send a small amount, you pay a small fee. But in Bitcoin, it enables you to send a very big amount of money just need to pay a very small fee (compare with the payment size) so, Bitcoin is still usable when you make big paymentsDuring the early days of Bitcoin, it was supposed to be the other way around. Back then, the ease of doing micro-payments was considered as one of the advantages of Bitcoin. But with the current fee levels, it is no longer possible.
Fair, yes. Each and every one of us sat here three years back or more and could have started an exchange with little legal paperwork and almost no money, less than $50,000. Myself included, we didn't do that
It is fair for me because if bitcoin transactions are not fair then it is already adjusted by the people in charge in declaring the amount of fees of bitcoin. Bitcoin transactions need fees because of the demand of the miners for additional profit aside from their primary income so they will continue working for bitcoin and not to migrate to another coin.
Well, since bitcoin is not governement regulated, then what we can really do with some price manipulation is to just use it at our advantage. As what the saying goes, if you cannot beat them, be with them. Therefore, whe we see that there is drastic slow in altcoin prices, then maybe it is high time to buy them cheap as these moments.
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.
Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.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.
You are correct mate and I suggest that you only cashout at least a minimum of .1 btc is the way to go so that you will still get some descent amount of coins even with some fees of their services out there.
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.
Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.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 fair for me because if bitcoin transactions are not fair then it is already adjusted by the people in charge in declaring the amount of fees of bitcoin. Bitcoin transactions need fees because of the demand of the miners for additional profit aside from their primary income so they will continue working for bitcoin and not to migrate to another coin.
Well, since bitcoin is not governement regulated, then what we can really do with some price manipulation is to just use it at our advantage. As what the saying goes, if you cannot beat them, be with them. Therefore, whe we see that there is drastic slow in altcoin prices, then maybe it is high time to buy them cheap as these moments.
It is fair for me because if bitcoin transactions are not fair then it is already adjusted by the people in charge in declaring the amount of fees of bitcoin. Bitcoin transactions need fees because of the demand of the miners for additional profit aside from their primary income so they will continue working for bitcoin and not to migrate to another coin.
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