like for example you ask someone to render some service in just worth 0.0001 then you have to pay 0.001 for transaction fee which is so bad to see because it is more higher than the amount of the money that you are going to send. We hope this will be resolve this coming August. We want fairness inspite of the high demand of bitcoin in market miners need to be fair. 
Topic: Is bitcoin transaction fees fair? - page 46. (Read 36260 times)
So for me it is not fair like for example you ask someone to render some service in just worth 0.0001 then you have to pay 0.001 for transaction fee which is so bad to see because it is more higher than the amount of the money that you are going to send. We hope this will be resolve this coming August. We want fairness inspite of the high demand of bitcoin in market miners need to be fair.
like for example you ask someone to render some service in just worth 0.0001 then you have to pay 0.001 for transaction fee which is so bad to see because it is more higher than the amount of the money that you are going to send. We hope this will be resolve this coming August. We want fairness inspite of the high demand of bitcoin in market miners need to be fair. 
By 2015 the price of bitcoin is only about $ 250 and transaction fee of 0.0001 bitcoin. Whereas at this year bitcoin prices have reached $ 2300 and have a fee of 0.001. So do you think it is fair? Of course 
So the net transaction fee has increased by as much as 100x during the last few months. Only the miners are profiting out of this, with everyone else losing out. Hopefully things will be sorted out by August.
Transactions fees on bitcoin was not fair, maybe they need to develop the fees system because almost 10-15% of amount transferred will be the fees it was so high. Maybe the charges may change into 2-3% of amount per transactions.
Fees have definitely evolved and there is so much evidence to show that it has no correlation with price. Two days ago, the network was BELOW 2,000 transactions and I would have loved to test a 5 sat/byte tx but was unable to access my wallet then.
But today, I made a transaction with 35.9 sats/byte and it confirmed in exactly 60 minutes - at a time when there were about 11,000 transactions. I paid about $0.47 cents for almost $900. That's just over 0.05% of my total. I chose a time that the network was relatively free, I chose to transact one chunk rather than several. And my fee corresponded to those environments.
https://blockchain.info/tx/ab7b64a65de124ef55c2e09747a9c8dc433af8d4097cba8acf8d5469edbb8610
That's fair to me by any measurement.
But today, I made a transaction with 35.9 sats/byte and it confirmed in exactly 60 minutes - at a time when there were about 11,000 transactions. I paid about $0.47 cents for almost $900. That's just over 0.05% of my total. I chose a time that the network was relatively free, I chose to transact one chunk rather than several. And my fee corresponded to those environments.
https://blockchain.info/tx/ab7b64a65de124ef55c2e09747a9c8dc433af8d4097cba8acf8d5469edbb8610
That's fair to me by any measurement.
Yes! That I felt today as well! Awesome speed today, unlike last few months.
My $500-worth bitcoin transaction having just $0.4 fee got three confirmations within the time span of one and a half hour. Quite good speed, specially if you compare that with the speed in last few months.
In the event that Bitcoin be destroyed (which is unlikely,) let it be known to the clogs in Bitcoin's wheel of progress, that it would be a tall order to have any other coin to gain even half the acceptance that Bitcoin already enjoys and of course that would translate to lesser profit for the profiteers.
By 2015 the price of bitcoin is only about $ 250 and transaction fee of 0.0001 bitcoin. Whereas at this year bitcoin prices have reached $ 2300 and have a fee of 0.001. So do you think it is fair? Of course
The major traffic seems to have resolved now but mate, the thing you're saying is not what people are complaining. If I had to make a $5 transaction using bitcoin in 2015, I would have paid the 0.0001 BTC ($0.025 only), but now if I've to make $5 transaction, I've to pay 0.001 bitcoin, which is $2.3. So the problem is, there's a big difference in $0.025 and $2.30.
By 2015 the price of bitcoin is only about $ 250 and transaction fee of 0.0001 bitcoin. Whereas at this year bitcoin prices have reached $ 2300 and have a fee of 0.001. So do you think it is fair? Of course
The transaction fee of bitcoinas of now is not fair because before the fee is fair when you send how much bitcoin the fee is less than 20k satoshi before. But as of now. The trasaction fee is depends on how much you send bitcoin if you send bitcoin high amount for sure the fee is high but even the fee is high it takes more time before the transaction confirm and before you use your bitcoin.
Well , you don;t have a clue about bitcoin transaction fees. That is for certain.
It doesn't matter how many coins satoshi or mbtc you send.
All that matters is the size of the trasanction in kb not in value.
More outputs more inputs > larger size > higher fees.
And the fee is pretty fair. It is called a free market.
Nothing is as fair as being free to use it or not.
The transaction fee of bitcoinas of now is not fair because before the fee is fair when you send how much bitcoin the fee is less than 20k satoshi before. But as of now. The trasaction fee is depends on how much you send bitcoin if you send bitcoin high amount for sure the fee is high but even the fee is high it takes more time before the transaction confirm and before you use your bitcoin.
Fees have definitely evolved and there is so much evidence to show that it has no correlation with price. Two days ago, the network was BELOW 2,000 transactions and I would have loved to test a 5 sat/byte tx but was unable to access my wallet then.
But today, I made a transaction with 35.9 sats/byte and it confirmed in exactly 60 minutes - at a time when there were about 11,000 transactions. I paid about $0.47 cents for almost $900. That's just over 0.05% of my total. I chose a time that the network was relatively free, I chose to transact one chunk rather than several. And my fee corresponded to those environments.
https://blockchain.info/tx/ab7b64a65de124ef55c2e09747a9c8dc433af8d4097cba8acf8d5469edbb8610
That's fair to me by any measurement.
But today, I made a transaction with 35.9 sats/byte and it confirmed in exactly 60 minutes - at a time when there were about 11,000 transactions. I paid about $0.47 cents for almost $900. That's just over 0.05% of my total. I chose a time that the network was relatively free, I chose to transact one chunk rather than several. And my fee corresponded to those environments.
https://blockchain.info/tx/ab7b64a65de124ef55c2e09747a9c8dc433af8d4097cba8acf8d5469edbb8610
That's fair to me by any measurement.
Yes! That I felt today as well! Awesome speed today, unlike last few months.
My $500-worth bitcoin transaction having just $0.4 fee got three confirmations within the time span of one and a half hour. Quite good speed, specially if you compare that with the speed in last few months.
Fees have definitely evolved and there is so much evidence to show that it has no correlation with price. Two days ago, the network was BELOW 2,000 transactions and I would have loved to test a 5 sat/byte tx but was unable to access my wallet then.
But today, I made a transaction with 35.9 sats/byte and it confirmed in exactly 60 minutes - at a time when there were about 11,000 transactions. I paid about $0.47 cents for almost $900. That's just over 0.05% of my total. I chose a time that the network was relatively free, I chose to transact one chunk rather than several. And my fee corresponded to those environments.
https://blockchain.info/tx/ab7b64a65de124ef55c2e09747a9c8dc433af8d4097cba8acf8d5469edbb8610
That's fair to me by any measurement.
But today, I made a transaction with 35.9 sats/byte and it confirmed in exactly 60 minutes - at a time when there were about 11,000 transactions. I paid about $0.47 cents for almost $900. That's just over 0.05% of my total. I chose a time that the network was relatively free, I chose to transact one chunk rather than several. And my fee corresponded to those environments.
https://blockchain.info/tx/ab7b64a65de124ef55c2e09747a9c8dc433af8d4097cba8acf8d5469edbb8610
That's fair to me by any measurement.
Weather Bitcoin fees are fair or not depend on perspective, because "fairness" is a very personal concept. One can say that Bitcoin fees are fair because they are determined by open market, miners don't charge fees directly or setup some minimum required amounts, they simple include transactions with highest fees first, and people completely voluntarily pay high fees simply because they want their transactions confirmed asap. There are also arguments that high fees can be considered as payment for immutability.
On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
The whole transaction fees cost too much thing is a little exaggerated in the current situation that we are in since the price of Bitcoin is at 4 digits. Once Bitcoin reaches 5 digits or more then there will be people wanting the transaction fees that we have right now.On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
It had been thought to represent freedom
Until it didn't get in the way of profits. As it turned out, miners care about tangible profits a lot more than they care about some abstract freedom. It also turns out that some aspects of the whole idea behind Bitcoin hadn't been thoroughly thought through and now we have what we deserve. Though I don't think that Bitcoin is going to become elitist as you assume. After all, it is not gold backed by its beauty and shine, durability and scarcity. Neither it is a Berkshire Hathaway stock backed by the industrial and manufacturing might of the world. So it will likely just stagnate unless the issues which are haunting and daunting it now get successfully resolved, the sooner the better
Weather Bitcoin fees are fair or not depend on perspective, because "fairness" is a very personal concept. One can say that Bitcoin fees are fair because they are determined by open market, miners don't charge fees directly or setup some minimum required amounts, they simple include transactions with highest fees first, and people completely voluntarily pay high fees simply because they want their transactions confirmed asap. There are also arguments that high fees can be considered as payment for immutability.
On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
The whole transaction fees cost too much thing is a little exaggerated in the current situation that we are in since the price of Bitcoin is at 4 digits. Once Bitcoin reaches 5 digits or more then there will be people wanting the transaction fees that we have right now.On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
No they are not fair, and I wonder when will it get back on normal, and will it ever back on normal. After some time of not sending bitcoin anywhere I needed to send 13 mBTC and Xapo took 2 mBTC fee, that is not ok, they should adjust that, like its not matter if you send 15 and 1500 mBTC.
People talk here about high fees a lot, and fairness that you talk about is just in money, rich people can afford it and rest of us can just watch it.
Weather Bitcoin fees are fair or not depend on perspective, because "fairness" is a very personal concept. One can say that Bitcoin fees are fair because they are determined by open market, miners don't charge fees directly or setup some minimum required amounts, they simple include transactions with highest fees first, and people completely voluntarily pay high fees simply because they want their transactions confirmed asap. There are also arguments that high fees can be considered as payment for immutability.
On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
The whole transaction fees cost too much thing is a little exaggerated in the current situation that we are in since the price of Bitcoin is at 4 digits. Once Bitcoin reaches 5 digits or more then there will be people wanting the transaction fees that we have right now.On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
Weather Bitcoin fees are fair or not depend on perspective, because "fairness" is a very personal concept. One can say that Bitcoin fees are fair because they are determined by open market, miners don't charge fees directly or setup some minimum required amounts, they simple include transactions with highest fees first, and people completely voluntarily pay high fees simply because they want their transactions confirmed asap. There are also arguments that high fees can be considered as payment for immutability.
On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
The whole transaction fees cost too much thing is a little exaggerated in the current situation that we are in since the price of Bitcoin is at 4 digits. Once Bitcoin reaches 5 digits or more then there will be people wanting the transaction fees that we have right now.On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
wait, so you are saying its too much to pay 4$ for a fee when the price is 2600, but its OK to spend 40$ for a fee with the price is 26,000?
since the fees are not in USD but mBTC.
like i said before, fee based priority is a failure no matter how you look it at.
And my advice would be to stop searching for logic in all the post around here.
I've posted a couple of times how the fee evolved and it had no correlation with the bitcoin price.
Of course it won't reach 40$ even if bitcoin would be at 25k$.
By that logic we might end with 400$ fees if ever BTC goes to 250k$.
Just because you are rich now does it mean you can afford to pay 400$ every time you go shopping?
I've check my card, I used it 89 times in the last 30 days.
It would mean I would pay close to 40k$ fees in a month. Hilarious!!!!!!!!!!!!!!!
The free market will offer a balance. And if the fees go above 10$ bitcoin can say goodbye to daily/normal usage.
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 guess it's fair for fees to go up to pay for mining, but it could limit usage of Bitcoin. What I mean is that people will stop using Bitcoin for small transactions and will only use it for larger transactions. Small transactions will need to be handled with an altcoin that is cheaper and has much lower fees.
The fees have dropped now to a reasonable amount and the speeds have vastly improved. I'm glad it is better I was beginning to get worried. I don't like the fact of having to pay fees that are a massive amount if what I'm sending like $5 fee to spend $10 is ridiculous. Now it is less maybe $2.50 or something.
Still, bitcoin fees are quite high to send smaller amounts and I don't think is a good option to use for smaller transactions. Bitcoins are only good for investment purpose or if you want to deal a bigger amount. For a smaller transaction, I'm already moved to other altcoins which make me reasonable to send small amounts.
For me, 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.
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 guess it's fair for fees to go up to pay for mining, but it could limit usage of Bitcoin. What I mean is that people will stop using Bitcoin for small transactions and will only use it for larger transactions. Small transactions will need to be handled with an altcoin that is cheaper and has much lower fees.
It's already happening for some people. They see the transaction fees costs and prefer to use an Altcoin like LTC and ETH to make payments and move money online. For them, fees aren't fair, if it would, they wouldn't stop making BTC transactions. Until the fees become more acceptable the Altcoins will continue being used for some people, while most Crypto enthusiasts continue holding their BTC funds, waiting for the next big pump in BTC 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.
I guess it's fair for fees to go up to pay for mining, but it could limit usage of Bitcoin. What I mean is that people will stop using Bitcoin for small transactions and will only use it for larger transactions. Small transactions will need to be handled with an altcoin that is cheaper and has much lower fees.
The fees have dropped now to a reasonable amount and the speeds have vastly improved. I'm glad it is better I was beginning to get worried. I don't like the fact of having to pay fees that are a massive amount if what I'm sending like $5 fee to spend $10 is ridiculous. Now it is less maybe $2.50 or something.
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 guess it's fair for fees to go up to pay for mining, but it could limit usage of Bitcoin. What I mean is that people will stop using Bitcoin for small transactions and will only use it for larger transactions. Small transactions will need to be handled with an altcoin that is cheaper and has much lower fees.
Weather Bitcoin fees are fair or not depend on perspective, because "fairness" is a very personal concept. One can say that Bitcoin fees are fair because they are determined by open market, miners don't charge fees directly or setup some minimum required amounts, they simple include transactions with highest fees first, and people completely voluntarily pay high fees simply because they want their transactions confirmed asap. There are also arguments that high fees can be considered as payment for immutability.
On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
The whole transaction fees cost too much thing is a little exaggerated in the current situation that we are in since the price of Bitcoin is at 4 digits. Once Bitcoin reaches 5 digits or more then there will be people wanting the transaction fees that we have right now.On the other hand, many users feel like fees are really high compared to fiat currencies and traditional payment processors, and historically this giant increase of fees started only around a year ago, so current fees must be unfair.
wait, so you are saying its too much to pay 4$ for a fee when the price is 2600, but its OK to spend 40$ for a fee with the price is 26,000?
since the fees are not in USD but mBTC.
like i said before, fee based priority is a failure no matter how you look it at.
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