As time goes on and BTC is no longer plagued by 10% inflation to pay for security, we will see transaction fees need to rise to maintain a reasonable level of security.
Topic: It costs $0.09 cents to send $0.24 cents of Bitcoin? Really? - page 2. (Read 7844 times)
As time goes on and BTC is no longer plagued by 10% inflation to pay for security, we will see transaction fees need to rise to maintain a reasonable level of security.
As time goes on and BTC is no longer plagued by 10% inflation to pay for security, we will see transaction fees need to rise to maintain a reasonable level of security.
It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
And $0.00 to move BTC200k???
http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/
It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
And $0.00 to move BTC200k???
http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/
No large amounts of Bitcoins are considered High priority transactions
While their is a relation to coin-age these type of transactions are large and significant so there is no need to pay a transaction fee.
It is important to note that the individual miners (or pools when a pool finds a block) are the ones who set the policy as to which TXs are confirmed in a found block.
you can try electrum and set a 0 fee
but it may take some time to get received
but it may take some time to get received
It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
And $0.00 to move BTC200k???
http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/
No large amounts of Bitcoins are considered High priority transactions
While their is a relation to coin-age these type of transactions are large and significant so there is no need to pay a transaction fee.
It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
And $0.00 to move BTC200k???
http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/
Hi -
Tried to send $0.24 worth of bitcoin and this pops up:
https://lh4.googleusercontent.com/-VjHB22LKq_E/U_ErypA9CQI/AAAAAAAAQlg/chDa1jLrhaw/s649-no/lolaz.jpg
Is this what they mean when they say Bitcoin can never be used for micro transactions?
Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?
Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.
And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now. we'll do it later" ?
Or is this something else?
-B-
Tried to send $0.24 worth of bitcoin and this pops up:
https://lh4.googleusercontent.com/-VjHB22LKq_E/U_ErypA9CQI/AAAAAAAAQlg/chDa1jLrhaw/s649-no/lolaz.jpg
Is this what they mean when they say Bitcoin can never be used for micro transactions?
Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?
Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.
And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now. we'll do it later" ?
Or is this something else?
-B-
Hopefully this will change in the future, if Bitcoin's value increases and the transaction fee remains the same, it could become more costly to send micro transactions like this.
You can adjust it to any amount. Anyways, that's still cheaper than any other money transfer method out there!
Why not set the fees to 0.00001 BTC (1000 Satoshis) instead of 0.0002 (20000 Satoshis)?
Had to wait times up to some hours but it confirmed mostly. If the amounts are that small, then it's likely not too important to confirm quickly.
Had to wait times up to some hours but it confirmed mostly. If the amounts are that small, then it's likely not too important to confirm quickly.
It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?
And $0.00 to move BTC200k???
http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/
Sorry but I think the OP has a point. I think the fees should be proportionate to the money being transferred maybe multiplied by the time to confirm. I'm not a mathematician but there must be someone to workout a formulae.
The fees should be proportionate to the amount of work that it takes to confirm a transaction. Generally speaking it does not take any more work to confirm a 10,000 BTC transaction then it takes to confirm a .005 BTC transaction (assuming the same number of inputs and outputs), so why should the user pay more if the miners are doing the same amount of work?
That's the lowest fee I have seen imo. You can't expect everything to be free right?
That's what BTC system is relying on ..
That's what BTC system is relying on ..
Bitcoin payment isn't really viable for restaurant type establishment.
Imagine paying for a cup of coffee and paying 0.005 transaction fee on 5 dollars transaction. The owner might decide it is not a good business sense to wait for 30 mins for every customer transaction to confirm.
Imagine paying for a cup of coffee and paying 0.005 transaction fee on 5 dollars transaction. The owner might decide it is not a good business sense to wait for 30 mins for every customer transaction to confirm.
You should be happy you are allowed to use the bitcoin network for such shitty amounts.
If they don't charge, then bitcoin will have lot of trouble paying miners.
Banks and CC companies, even paypal charges higher than this. Just saying.
Banks and CC companies, even paypal charges higher than this. Just saying.
Hi -
Tried to send $0.24 worth of bitcoin and this pops up:
Is this what they mean when they say Bitcoin can never be used for micro transactions?
Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?
Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.
And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now. we'll do it later" ?
Or is this something else?
-B-
Tried to send $0.24 worth of bitcoin and this pops up:
Is this what they mean when they say Bitcoin can never be used for micro transactions?
Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?
Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.
And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now. we'll do it later" ?
Or is this something else?
-B-
Quark did solve that problem 12 months ago ha ha
; D
Damn
I almost never pay fees, unless someone needs money right away.
Hi -
Tried to send $0.24 worth of bitcoin and this pops up:
Is this what they mean when they say Bitcoin can never be used for micro transactions?
Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?
Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.
And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now. we'll do it later" ?
Or is this something else?
-B-
Tried to send $0.24 worth of bitcoin and this pops up:
Is this what they mean when they say Bitcoin can never be used for micro transactions?
Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?
Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.
And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now. we'll do it later" ?
Or is this something else?
-B-
Microtransactions is possible for btc, yes. I read about man, who send 0.0001 btc! Great to see, that i can to do that too
Sorry but I think the OP has a point. I think the fees should be proportionate to the money being transferred maybe multiplied by the time to confirm. I'm not a mathematician but there must be someone to workout a formulae.
Partially agreed. How ever it doesn't take less processing power to move 10000 BTC versus .01 BTC, its roughly the same. So I would expect that if you have to move $0.24 either don't because $0.09 to get it confirmed in a timely manner is too much, or put less into the tx fee and see what happens.
0.0001 is ok (in all online wallets) at this moment (with the price of btc),
Maybe, in a future, this fee will decrease (when bitcoin touch 2k - 5k usd) to 0.00005 , i don't know
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