As I know, the fee-issue split europeans and americans.
In europe fees for transactions are rare. I had an account on a little and non-innovative bank where I had to pay fees (a little bit higher than 0.0001 btc) when I made more than 10 transactions. After some research I changed my bank and have now to pay no fees. I told a friend of me that I payed fees for over a year, and he couldn't believe it. In his eyes paying fees for transaction was absurd.
So yes, fees could become a problem.
I don't know if there exists any solution to this issue. When I look at mining-difficulty I fear fees will rise a lot when the next reward era begins.
Topic: Miner's fee a barrier to mass adoption - page 4. (Read 4380 times)
The current fee of 0.0001 is about less than 2 US cents.
Merchants don't need to insist on a fee. But merchants will insist on a confirmation.
Merchants don't need to insist on a fee. But merchants will insist on a confirmation.
But the miners fee is essential to keep the network going, especially when all the coins are mined.
Finding a solution for those two problems may not be necessary for mass adoption. Bitcoin is not well suited for face-to-face transactions because you have to wait for a confirmation. It is not also suited for small transactions where a few cents matters. That's just the reality. It doesn't mean that bitcoin is not useful to anyone.
I understand that the miner's fee is just a few cents, but am I the only one that sees it as a potential problem?
Situation 1: I buy something and refuse to pay the fee. I know that blockchain.info will put it back in my account after 24 hours if it isn't confirmed. Thus, merchants may refuse to take BTC fearing these types of "charge backs."
"so merchants just insist on a miner's fee!" is the simple answer, but imagine a busy restaurant or store ringing up lots of transactions an hour, usually by the typical teenage or marginally trained employees. A lot of no fee transactions may slip through the cracks.
Situation 2: People making small purchases (under $10) for fast food or coffee are not going to want to tack on a few cents every time.
"People shouldn't be so cheap!" is the easy answer to that, but they definitely are. Go ask people if they are willing to pay a few pennies every time they use their debit cards and see what the reactions are. Consumers hate that.
Ideas? Solutions?
Situation 1: I buy something and refuse to pay the fee. I know that blockchain.info will put it back in my account after 24 hours if it isn't confirmed. Thus, merchants may refuse to take BTC fearing these types of "charge backs."
"so merchants just insist on a miner's fee!" is the simple answer, but imagine a busy restaurant or store ringing up lots of transactions an hour, usually by the typical teenage or marginally trained employees. A lot of no fee transactions may slip through the cracks.
Situation 2: People making small purchases (under $10) for fast food or coffee are not going to want to tack on a few cents every time.
"People shouldn't be so cheap!" is the easy answer to that, but they definitely are. Go ask people if they are willing to pay a few pennies every time they use their debit cards and see what the reactions are. Consumers hate that.
Ideas? Solutions?
You need to go out of your way to remove the fees, basically going against recommendations. For almost every site and every client the fees are automatic so the vast majority of users will not have those problems. But if you do go out of your way to zero the fee, you will have poor results.
I understand that the miner's fee is just a few cents, but am I the only one that sees it as a potential problem?
Situation 1: I buy something and refuse to pay the fee. I know that blockchain.info will put it back in my account after 24 hours if it isn't confirmed. Thus, merchants may refuse to take BTC fearing these types of "charge backs."
"so merchants just insist on a miner's fee!" is the simple answer, but imagine a busy restaurant or store ringing up lots of transactions an hour, usually by the typical teenage or marginally trained employees. A lot of no fee transactions may slip through the cracks.
Situation 2: People making small purchases (under $10) for fast food or coffee are not going to want to tack on a few cents every time.
"People shouldn't be so cheap!" is the easy answer to that, but they definitely are. Go ask people if they are willing to pay a few pennies every time they use their debit cards and see what the reactions are. Consumers hate that.
Ideas? Solutions?
Situation 1: I buy something and refuse to pay the fee. I know that blockchain.info will put it back in my account after 24 hours if it isn't confirmed. Thus, merchants may refuse to take BTC fearing these types of "charge backs."
"so merchants just insist on a miner's fee!" is the simple answer, but imagine a busy restaurant or store ringing up lots of transactions an hour, usually by the typical teenage or marginally trained employees. A lot of no fee transactions may slip through the cracks.
Situation 2: People making small purchases (under $10) for fast food or coffee are not going to want to tack on a few cents every time.
"People shouldn't be so cheap!" is the easy answer to that, but they definitely are. Go ask people if they are willing to pay a few pennies every time they use their debit cards and see what the reactions are. Consumers hate that.
Ideas? Solutions?
Jump to: