Topic: Is bitcoin transaction fees fair? - page 52. (Read 36260 times)
High fees could be a problem because people are not going to make small transactions with bitcoins because of fees. It will limit bitcoin to just larger transactions.
Well the last days the fees are out of control, without a solution to this people are mooving they money into others currencies, its insane send 5 dollars and pay 10% as fee, soo no at this point fees are to high, but the thing is bitcoin is a good investment.
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'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'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 used Coinbase before, it did not stop wages at that time but it stopped now, I wanted to go to another wallet, but I could not find a free wallet. This situation does not bother me.
If you doesn't care for the fees too much then it will not bother you but if you are bitcoin saver like you are concerned for all your bitcoins even the small amounts then you will not like the current fees right now because it is too expensive for a fee and compare to the price now, it is a loss for a lot of bitcoin users.
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..
On the other hand, a 1/5 of a KB requires 0.0006 or so now and 1 KB around 0.003 BTC which is too much, particularly for BTC as an interface for micropayments.
On the other hand, a 1/5 of a KB requires 0.0006 or so now and 1 KB around 0.003 BTC which is too much, particularly for BTC as an interface for micropayments.
As the price of bitcoin have increased tremendously, the fee to have increased along with it. For a transaction of 0.1 btc the fee of around $8 is levied by the wallet service which gives confirmation in a short time period of around 2 blocks. So when price increases the users get profited, and fee should never be considered as an issue for bitcoin's growth.
But this is only true if you bought that 0.1BTC when it was cheaper and you earned profit with the reevaluation, for a person that bought bitcoin because he wanted to use it immediately then the transaction will be high, in this case if he can use other methods of buying the product then he should probably take it.As the price of bitcoin have increased tremendously, the fee to have increased along with it. For a transaction of 0.1 btc the fee of around $8 is levied by the wallet service which gives confirmation in a short time period of around 2 blocks. So when price increases the users get profited, and fee should never be considered as an issue for bitcoin's growth.
But this is only true if you bought that 0.1BTC when it was cheaper and you earned profit with the reevaluation, for a person that bought bitcoin because he wanted to use it immediately then the transaction will be high, in this case if he can use other methods of buying the product then he should probably take it. I used Coinbase before, it did not stop wages at that time but it stopped now, I wanted to go to another wallet, but I could not find a free wallet. This situation does not bother me.
If you doesn't care for the fees too much then it will not bother you but if you are bitcoin saver like you are concerned for all your bitcoins even the small amounts then you will not like the current fees right now because it is too expensive for a fee and compare to the price now, it is a loss for a lot of bitcoin users.I used Coinbase before, it did not stop wages at that time but it stopped now, I wanted to go to another wallet, but I could not find a free wallet. This situation does not bother me.
If you doesn't care for the fees too much then it will not bother you but if you are bitcoin saver like you are concerned for all your bitcoins even the small amounts then you will not like the current fees right now because it is too expensive for a fee and compare to the price now, it is a loss for a lot of bitcoin users. 
I used Coinbase before, it did not stop wages at that time but it stopped now, I wanted to go to another wallet, but I could not find a free wallet. This situation does not bother me.
The fee rate is ridiculous mainly because it's completely unacceptable for mini-loans, you can even pay a full $ for a small few bitcents TX.. On the other hand that is still incomparable to PayPal and other online payment methods or even to some CC debts or bank transfer and WU..
The reason is probably the increased traffic and the blocks are still the same as they used to be.
The reason is probably the increased traffic and the blocks are still the same as they used to be.
I said last few days or 1 week ago the transaction I think its fair. But now I think it is not fair because I send bitcoin from my wallet worth 0.05 yesterday and the transaction fee is 180k satoshi but as of now the transaction is not yet confirmed as of now its already 24 hours . Before the transaction fee of bitcoin is very low the price of bitcoin is low while today the price of bitcoin is very high but the transaction fee is not di same and it takes more time to confirm the transaction unlike before you need to wait 1hr to use your bitcoin.
The fees are fair in a way and completely fair from another aspect. Naturally it depends on how busy the network is and we decide then based on that -since we, voluntarily select the fees, even if we are pushed to get it confirmed quickly - , However currently the size is so much pushed that the fees is getting to $1 or so when conducting a regular sized tx to confirm in 2-3 coming blocks which is extremely bad for micropayments.
I think the solution is finding a method to relieve the BTC congestion right now.
I think the solution is finding a method to relieve the BTC congestion right now.
i reckon its a fair fee, unless youre transferring 0.005 BTC only
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.
A human thought of greed. I hate people like that. As bitcoin increases, we all get a bigger profit, so we have to pay a bigger fee, I think that's perfectly reasonable. Conversely, if bitcoin is of low value, we get less profit, so we just pay a small fee, it will not affect our profit.
Yes, many people are too greedy. How much they do not have the opportunity to earn it is only a little more and complain.
Greedy is really part of our life. If greedy is not on ours then I think all of us are poor and we don't know how to earn money at all. But of course this is the reason why we are wanting to earn bitcoin especially today, because bitcoin is getting bigger/higher. I think it is just fair in bitcoin transactions fee because once bitcoin gets lower than fees also getting lower, right? So it is just the same of getting higher.
This transaction fee shouldn't be necessary need to be high the cause of this high fees is to the number of traffic in bitcoin network there are also some news that mempools are full that's why there is an delay and unconfirmed transactions pilling up, the miners are putting high priority the transactions that has high fees as for low transaction fee they will be process later.
But no worries segwit will be soon activated and all these delayed transactions will get finally resolve also it will eliminate malleability.
But no worries segwit will be soon activated and all these delayed transactions will get finally resolve also it will eliminate malleability.
I feel the bitcoin transactions costs greater, yesterday I sent about 0.15 btc via XAPO wallet with standard fee of around satosi 150k, and already 14 hours has not reached 3 confirmations. 
I just paid $2 on a $15 transaction and had to wait for a couple of hours for confirmation. Wouldn't really say that it's fair.
bitcoin transaction take less time like as few minutes take my every transaction and bitcoin transaction fees is also too much less than bank than bank transaction fees and i think just transaction take hours. Jump to: