Topic: Is bitcoin transaction fees fair? - page 8. (Read 36260 times)
Fortunately, now the size of the Commission is much smaller that can not but rejoice. This is due to the Lighting Network system, which made it possible to speed up data processing during a transaction.
As far as I know the commission is not only depends on the price of bitcoin. After all, at its high cost, revaluation takes place and the amount of satoshi per transaction decreases. Do I understand the system correctly?
It's good that if you want to send 10.000$ you pay only 3$. But what happens with the people that want to send 3$?
As far as I know the commission is not only depends on the price of bitcoin. After all, at its high cost, revaluation takes place and the amount of satoshi per transaction decreases. Do I understand the system correctly?
Bitcoin as from of paying for services and other has a speed growth. So it's more likely that any other payment system fees are resulting in over payment to the bank/processor as they have less competition on their fees.
For me, the current fees are fair. I'd say low even. On the downside, I suppose I don't like that they can vary quite a bit depending on market activity, but the upside is still greater than that one drawback.
Fairness is relative. What is fair to me might be unfair to you and vice versa. To some people, Bitcoin transaction fees is very fair and to others, it's not. All these are based on factors such as the price of Bitcoin, the quantity of bitcoin sent, speed, exchange, and other factors.
So, to answer your question, Bitcoin transaction fees are both fair and unfair. It all depends on you.
So, to answer your question, Bitcoin transaction fees are both fair and unfair. It all depends on you.
The fees are fair in the sense that we are all competing equally for that block space but it doesn't mean the blockchain is useful for most daily transactions as it was originally intended. If you want onchain transaction and benefit from a decentralized network then pay the required fee, or wait until lightning network is operative so you can get better decentralization levels than the stupid big blocks idea.
High fee is one of disadvantages of bitcoins and I think it is unfair when transfrer small amont btc but with big amont the transfer fee is can be received. But if Bitcoin wants to have an effect on the economy of the whole world, surely such fees must be diminished, and such delays in confirmations must be eliminated.
It is not fair if we bitcoin users are earning big but those people who are behind the processing of our transactions which are the miners are just earning a little amount because we prefer of paying low transaction fees for the transaction process to be done as soon as possible.That should always be the case. The good thing is that, while we are waiting for our bitcoins to grow even more before we cash it out, its value keeps on increasing as well with the recent bitcoin price rising.
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.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.
I may want to pay nothing for fees, but the miners aren't going to be giving away their precious expensive machines and expensive electric for nothing to be nice to me. They're going to want to turn a profit like everyone else in this world, so you're going to have to kiss the ring and pay the fees if you want to use this digital currency machine that we call Bitcoin.It is not fair at all, the transaction fees but we just have to suck it up. When bitcoin becomes mainstream, the fees should rise again.
Transaction fees are an integral part of every transaction. It helps miners carry out transactions. Therefore, when Bitcoin increases, certain fees must increase. That is quite worthwhile for the miner. The higher the fee, the faster the transaction. They always prioritize such transactions.
Transaction fees are included with your bitcoin transaction in order to have your transaction processed by a miner and confirmed by the Bitcoin network.From what i understood. transaction fees will be lower, and speed of transactions will be a lot faster. That sounds good to me, but i am not sure what kind of impact it will be for bitcoin. We will see.
I also think they should impose higher transaction fees when the price of bitcoin is really high so that it will be fair for their costumer and so that costumers will also be satisfied on their service.The fee is depending on the chosen transaction period whether its low medium or high speed transaction , Ofcourse high speed transaction is the most expensive fee of all. I think some wallets has same features too.
If we are going to focus on just the value of fee we can totally say that the fee is quite unfair for a small amount of transaction.This will be a never ending battle and no one will win in the end. Let us just make a compromise so that bitcoin can continue and lived.
Now the fee does look unfair. Because the greater the fee incurred because we must be able to conduct transactions in a fast time. There must be a solution to make things better.Fee shouldn't be treated like a miners incentive to confirm the transactions after all miners already earning good amount of bitcoin for whatever they are doing.
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.
Personally I think that the prices for transaction fees are way up high. Given that most exchanges have seen the possibility of bitcoin prices going up, they have set the fees into satoshi's instead of fiat value. I think most exchanges should fix the transaction fees into fiat value so regardless if btc's price would fluctuate they payments fees are fixed.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.
The value of you transaction is not affecting the fee. Some even so much people that they want to quite using bitcoin.Sometime fee are exaggerated but good wallet can solve the issue with previews transaction.
For me bitcoin transaction fee is not fair especially in coinbase and i think that high transaction fee due to very high price of bitcoin
maybe everything will feel reasonable if the transaction costs do not see the size or size of the transaction because the transaction costs are felt at this time will be very good if we make big transactions as well. If all transactions equate the two transactions in large and small quantities then the transaction costs do not change then the new so-called fair.
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