Each bitcoin transaction takes a certain transaction fee from the payer. Unlike Banks, which charge a fee based on fixed interest rates or total transactions, the cost of bitcoin is based on the amount of data required to encode it. It's not hard to understand the system, but its nuance and unintuitive nature mystify many bitcoin users, both novices and veterans.
Bitcoin transactions initially seem arbitrary, but they follow well-defined rules:
Bitcoin is an electronic cash system. The electronic equivalent of paper money is an unspent currency. The unspent currency becomes the input to the next transaction, and so on;
The net levy is based on the size of the transaction bytes, not its amount;
The largest contributor to transaction size is the number of inputs;
Paying with a large amount of small payments can lead to high fees;
Coin control can help integrate large amounts of unspent COINS, such as tips and other small payments.
Payment can be made without payment after a day of receiving bitcoin.
Topic: Is bitcoin transaction fees fair? - page 6. (Read 36260 times)
For a good profit, you need to invest in projects to invest at least $ 100.
Sometimes it is little bit higher.But actually it depends on the amount anyone transferring.But bitcoin as well as it's technology growing very rapidly and also new miners are joining; those will help to reduce the transaction fees and reduce time also.
Yes the transaction fees of Bitcoin is fair but not in all situations. because the transaction fee of bitcoin is very high as a result when we transact Bitcoin from one account to another account at that situation if the amount of transacting Bitcoin is so much then it is fair but when we transact a little amount of Bitcoin then the fee is not fair.
Currently, the transaction fees of Bitcoin reduced a lot. You can check again, I just need to spend 30k satoshi to send 1 Bitcoin and get confirm within 1 hours. The Bitcoin network has improved its system. I think it was better than few months ago too much. 
To me it is too high but the exchanges are complaining of high cost of mining because power source and security maintenance of their system as the reason for the exorbitant price.
To me it is too high but the exchanges are complaining of high cost of mining because power source and security maintenance of their system as the reason for the exorbitant price.
Miners control this. I think it is not affordable to use bitcoin for small transactions. Anyway, the fees shouldn't be a big problem
It's totally fair and it depends on which exchange you're using.
The prioty of your timing transaction long or short is depending on how much you gonna spend on that.
The prioty of your timing transaction long or short is depending on how much you gonna spend on that.
High fees could be a problem because people are not going to make small transactions with bitcoins because of fees. but the price of the fee is also intended to balance every transaction and price are all ico.
Yes the transaction fees of Bitcoin is fair but not in all situations. because the transaction fee of bitcoin is very high as a result when we transact Bitcoin from one account to another account at that situation if the amount of transacting Bitcoin is so much then it is fair but when we transact a little amount of Bitcoin then the fee is not fair.
These transactions need to be free. Until they are BTC is not going to be taken seriously as a method of transaction. it isn't a question of fairness, its a question of competition. The general public is used to sending and receiving money for free. Why would they now start paying?
If that were the price for big transactions there is no problem, and Bitcoin transaction fees is really too much fair than other you can check the paypal fees its very much high and bank fees is also very high.
Nothing is free anymore in this world, everything comes with a price/fee. We are paying fees cause we have to support this industry and keep it working in a decent way, if every transaction would be free, it would take ages to transfer/trade bitcoins etc.
The wallet which i am using is the blockchain.info and this is good because in these years the transaction fee are fair because for several transaction in the previous week i am very satisfied from the transaction time and fee i like the most and recent news for bitcoin is the bitcoin usage for future in many businesses and other uses over the internet these are good to hold these for future because the price now is good.
bitcoin transaction for now fair, but it controlled by miners only, and when price fastly going up she dont play fair
Maybe LN solve this problem soon
Maybe LN solve this problem soon
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.
It is one of the disadvantage of the bitcoin, the fees are really expensive. Most of the people are also annoying to the fees of the bitcoin. I can say that the fees are not fair. 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 not totally unfair as the fees was same from starting itself if the price increased (Which is what matters). there's nothing we can do about it. No one complained when the fees was low and everyone was happy. When it became more everyone has problem. Just try to reduce the low amount transaction.
How if we need to send low amount for some reason? If we wait for making big amount to send then we need to wait longer and its not possible for me who have small amount of bitcoin.
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.
For those doing micro/small transactions, it is maybe unfair compared to people sending bigger transactions. But for those, the simple reality is Bitcoin is not for them and if they want to make a small transaction it is better for them to look for other alternative costing cheaper than BTC.
In the case of national currencies, most transactions in everyday life take place without a commission. And this is the advantage of the national currencies in respect of bitcoins.
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