Topic: Is bitcoin transaction fees fair? - page 51. (Read 36260 times)
The transaction fee right now is too big, miners are satisfied with it of course, since they can now mine and afford more space for profit with the halving and the decrease in the BTC mined, but with both the increase in fees bitcoin price and USD value allow them to get more profit, and some mining equipment which became expired and negative ROI are now working again.
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.
Yeah. I really hate how high these fees are. Unlike what is in the past where Bitcoin is such a good way to transfer money due to low fee but now it seems like greediness is taking over the real essence of bitcoin to be a way to transfer money cheaply and have more financial freedom seems like disappearing.
For me it is just enough.
Because of the higher value of bitcoin now they should also increase it.
There will be a lot of traffic when bitcoin users will be transacting small amounts of bitcoin so they better make it larger to save the fees.
It is a good thing. We will be forced to keep it as it grows.
Because of the higher value of bitcoin now they should also increase it.
There will be a lot of traffic when bitcoin users will be transacting small amounts of bitcoin so they better make it larger to save the fees.
It is a good thing. We will be forced to keep it as it grows.
I think the cost of a fair bitcoin transaction ... because wherever we trade and the trades of goods and trades goods ... and bitcoin only cut 0.3% for sale and purchase transactions. .. in my opinion not too expensive ... thanks
Everything will feel fair if the transaction costs do not see the size or size of the transaction because the perceived current transaction costs will be great if we make large transactions as well.If all transactions equated both transactions in large and small amounts of transaction costs that do not change then it is new that is called fair.
as of now? DEFINITELY NOT. One thing that attracted me to bitcoin is the very low transaction fee. was only a few cents when I got into bitcoin. now? a couple of dollars. even worse than paypal in terms of usability.
I think for now quite fair with a fee that does not incriminate both parties. 
No it's not fair IMO, when the market is congested it feels people are cheating their way to get confirmed quicker and then miner making good payout of it clearly welcome. Had payments pending for 3-4 days and micropayments pending for more.. and if I pay the higher fees it will take a good sum from my profit.. Apparently off-chain wallets are the way to go
I don't think we could ever call that cheating
Even if it feels so, which I certainly understand even though I don't agree with that. After all, they are paying more, and if you pay more you expect a better service, right? That said, this alone doesn't make mining as it exists today less rogue since mining is purely utilitarian in its purpose. In other words, it is not an aim in and of itself, it is only a tool, and if you can get a better one for the same buck, you will certainly go for it. Obviously, miners would be interested in preserving their mining monopoly, i.e. forcing you to use only what they want you to use. That's basically why miners are rogue
Nope. I'm out here sometimes paying a $20 fee for a $200 transaction 
Yea, that is possible if you have multiple inputs which increases the size of the transaction. And the bigger the transaction is more fee you will have to pay.I used Paypal recently to transfer about $21.46, it cost me $1.89 then I end up with $19.57... And I transferred that $19.57 to my bank account without paying extra fees.
With Bitcoin, fee is very expensive now, and you have to pay it whenever you "think" about making a transaction.
Nope. I'm out here sometimes paying a $20 fee for a $200 transaction
You paid that much fees? 10% of the total price is absurd. Maybe what happened here is that your transactions had so much input and so much out puts that cause the price of the fees to increase by this much. So far, I transferred $800 and just paid about $5 in fees which is already the best fees at the time to confirm the quickest time as possible.
Nope. I'm out here sometimes paying a $20 fee for a $200 transaction
If you have to pay a 20$ fee it means you have at least 15 inputs at the current average fee.
Check how much dust you have in your wallet.
Nowadays it's worse to have a few addresses with 1-2 $ worth of bitcoin than having none.
Transaction fee is fair, because when the price increases along with the same the transaction fee value increases. Expecting a price increase and decrease in transaction fee doesn't make sense. In my view most users get the fastest confirmation but very few transaction get stuck to the lagging network making it unfair
So which one is it?
Transaction fee is fair/making it unfair.
it's fair in the technical sense, since the users are the ones to set it up when observing how congested the network is, allot prefer to pay up to $0.50 more cents to get it confirmed instantly rather than waiting for days..
But we are forced to pay more because if we don't our transaction will be stuck. It is like we do not have a choice but to pay high fees just to make our transaction confirmed.
The result is that your transaction will take much longer to confirm (likely in the 5-10 hour range). If you are okay with that, then it's all fine, but the hours of waiting aren't worth the few satoshis that you save.
More like 24h - 2 days.
I had to wait for a confirmation almost a day because of a sudden wave of transactions with more than 260s/b.
And there was nothing I could do since I wasn't the sender.
it's fair in the technical sense, since the users are the ones to set it up when observing how congested the network is, allot prefer to pay up to $0.50 more cents to get it confirmed instantly rather than waiting for days..
But we are forced to pay more because if we don't our transaction will be stuck. It is like we do not have a choice but to pay high fees just to make our transaction confirmed.
The result is that your transaction will take much longer to confirm (likely in the 5-10 hour range). If you are okay with that, then it's all fine, but the hours of waiting aren't worth the few satoshis that you save.
Nope. I'm out here sometimes paying a $20 fee for a $200 transaction
it's fair in the technical sense, since the users are the ones to set it up when observing how congested the network is, allot prefer to pay up to $0.50 more cents to get it confirmed instantly rather than waiting for days..
But we are forced to pay more because if we don't our transaction will be stuck. It is like we do not have a choice but to pay high fees just to make our transaction confirmed.
Transaction fee is fair, because when the price increases along with the same the transaction fee value increases. Expecting a price increase and decrease in transaction fee doesn't make sense. In my view most users get the fastest confirmation but very few transaction get stuck to the lagging network making it unfair
Thats the problem i am facing since last couple of months as well because i am the one who use to transfer small amount of bitcoins and paying large fee for those causing us loss.I think the ones having large amount of bitcoins paying large fee to prioratise their transactions and hence slowly this standard fee is increasing day by day.
Not fair but I think it is reasonable. If you want a faster transaction, you shell out additional fees and lower fees for not so fast confirmations. I think it is not automatically setup but you have to select it manually in your wallet.I hope network improves so that it is convenient t0 send and receive transaction just like before.
Just think that in this world there is no free. So having a fee in transaction especially on bitcoin. For me its fair as you elaborate how transaction on bitcoin happens bitcoin also has a system and a community and it does not have a tax so fees in transaction is just a little bit of something and besides the fees that collected is being using for the further development of bitcoin on its transaction and also its security for its users to experience.
Ridiculos high fees.
it's fair in the technical sense, since the users are the ones to set it up when observing how congested the network is, allot prefer to pay up to $0.50 more cents to get it confirmed instantly rather than waiting for days..
But we are forced to pay more because if we don't our transaction will be stuck. It is like we do not have a choice but to pay high fees just to make our transaction confirmed.
No it's not fair IMO, when the market is congested it feels people are cheating their way to get confirmed quicker and then miner making good payout of it clearly welcome. Had payments pending for 3-4 days and micropayments pending for more.. and if I pay the higher fees it will take a good sum from my profit.. Apparently off-chain wallets are the way to go
I don't think we could ever call that cheating
Even if it feels so, which I certainly understand even though I don't agree with that. After all, they are paying more, and if you pay more you expect a better service, right? That said, this alone doesn't make mining as it exists today less rogue since mining is purely utilitarian in its purpose. In other words, it is not an aim in and of itself, it is only a tool, and if you can get a better one for the same buck, you will certainly go for it. Obviously, miners would be interested in preserving their mining monopoly, i.e. forcing you to use only what they want you to use. That's basically why miners are rogue
No it does not.
You can mine with 100 s4 or with one billion s9 , the result will be the same, 1 mb block every damn 10 minutes.
Finally a drop in transactions:
https://blockchain.info/unconfirmed-transactions
91386 right now
Funny how the fees are still high, it confirms the spam attack hypothesis
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