Reduced transaction fees | Bitcointalksearch.org

mayax

legendary

Activity: 1470

Merit: 1004

Quote from: slyfox on January 01, 2018, 07:23:59 PM

Quote from: mayax on December 23, 2017, 09:55:01 PM

https://www.torproject.org/donate/donate-options.html.en

(Due to the current state of the Bitcoin market, our payment processor, Bitpay, will not allow us to accept donations of less than 100 USD. However, we can also accept donations, including smaller donations, through Bitcoin Cash) Cheesy

It is sad but that is the current state of the bitcoin network, any payment below 100 dollars is no longer worth to make with bitcoin, that is why it is getting harder and harder to make business for people in the forum that are selling their digital products.

use paypal

slyfox

member

Activity: 350

Merit: 10

Quote from: mayax on December 23, 2017, 09:55:01 PM

https://www.torproject.org/donate/donate-options.html.en

(Due to the current state of the Bitcoin market, our payment processor, Bitpay, will not allow us to accept donations of less than 100 USD. However, we can also accept donations, including smaller donations, through Bitcoin Cash) Cheesy

It is sad but that is the current state of the bitcoin network, any payment below 100 dollars is no longer worth to make with bitcoin, that is why it is getting harder and harder to make business for people in the forum that are selling their digital products.

mayax

legendary

Activity: 1470

Merit: 1004

https://www.torproject.org/donate/donate-options.html.en

(Due to the current state of the Bitcoin market, our payment processor, Bitpay, will not allow us to accept donations of less than 100 USD. However, we can also accept donations, including smaller donations, through Bitcoin Cash) Cheesy

Pink Panda

newbie

Activity: 29

Merit: 0

Yeah its really a big problem for us here now..a lot of fees have really been rising now ,as bitcoin is rising fees have been rising too ,crazily..when we about to withdraw it reaches 20% that fees would deduct our cash

AVAMONEY

full member

Activity: 406

Merit: 100

Quote from: eann014 on December 02, 2017, 09:49:54 PM

Quote from: Bitophile on November 27, 2017, 07:54:18 PM

As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.

As long as the bitcoin price increases, transaction fees are also striking. I don't really expect fee's to come down, just make sense, bitcoin increasing so the fee's are also increasing.

I think when Bitcoin development launching a success Lightning Network first transaction, this would become to solve all of this. But in fact, it will takes more time for some wallet service and exchanges accept this, since it will have impact in miners which miners will takes first tx with more high fees in mempool to be mined priority.

braves182

full member

Activity: 476

Merit: 100

The BISTOX exchange - OWN WHAT YOU TRADE

Without integration of Lightning Network we won't see small transactions fee.. The higher will the demand for BTC transations , the more will be overloaded the Network and the commission fee will be higher. So, just wait!

slyfox

member

Activity: 350

Merit: 10

Quote from: DannaWonder on December 07, 2017, 12:52:28 AM

Quote from: slyfox on December 06, 2017, 11:33:20 PM

Quote from: TagaMungkahi on November 28, 2017, 02:02:04 AM

I don't really think that it is related with the price of BTC, it will be on the standard level, the solution here is another fork which we should wait and trust the developers that they can fix this issue. Though, honestly the confirmation also takes a lot of time, waiting is too long but it's okay, i know this kind of issue will be solved.

No we do not need another fork, we need the solution of the devs to be fully implemented and that is not going to happen until next year, the only thing we can do now is to wait and see if the lightning network works, I have no doubt it will, but we will have to see it with our own eyes to finally settle that issue.

I hope this one will be implemented soon, good thing bitcoin's price is going higher and the cost of the fees is being compensated by the increase of the price in fiat but once the lightning network is implemented it will surely entice more people to invest into bitcoin.

Once people see that the lightning network is going to work people are going to forget about all these forks, the forks are just temporary on their nature I hope people do not invest in them or they are going to sloe a lot of money when the price of the forks goes to zero.

youghten

member

Activity: 66

Merit: 10

Quote from: Bitophile on November 27, 2017, 07:54:18 PM

As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.

No , will have same value number of btc will reduce (less than 0.00XXX) and number of fee will decrease (0.0000xx) but it’s value same as fee of (0.00xx)today .

hope i explain what i talk about fee will reduce in btc and have stable amount of Dollars

DannaWonder

full member

Activity: 140

Merit: 100

Quote from: slyfox on December 06, 2017, 11:33:20 PM

Quote from: TagaMungkahi on November 28, 2017, 02:02:04 AM

I don't really think that it is related with the price of BTC, it will be on the standard level, the solution here is another fork which we should wait and trust the developers that they can fix this issue. Though, honestly the confirmation also takes a lot of time, waiting is too long but it's okay, i know this kind of issue will be solved.

No we do not need another fork, we need the solution of the devs to be fully implemented and that is not going to happen until next year, the only thing we can do now is to wait and see if the lightning network works, I have no doubt it will, but we will have to see it with our own eyes to finally settle that issue.

I hope this one will be implemented soon, good thing bitcoin's price is going higher and the cost of the fees is being compensated by the increase of the price in fiat but once the lightning network is implemented it will surely entice more people to invest into bitcoin.

Insomnia family

member

Activity: 868

Merit: 10

Quote from: Bitophile on November 27, 2017, 07:54:18 PM

As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.

Well we can only follow the price of Bitcoin, because the cost of bitcoin also follow the price if the higher the cost will also rise and if the price goes down the cost will also go down, because now it is very difficult for us who have small. Capital goes to Bitcoin, WitDraw cost is also more expensive.

slyfox

member

Activity: 350

Merit: 10

Quote from: TagaMungkahi on November 28, 2017, 02:02:04 AM

I don't really think that it is related with the price of BTC, it will be on the standard level, the solution here is another fork which we should wait and trust the developers that they can fix this issue. Though, honestly the confirmation also takes a lot of time, waiting is too long but it's okay, i know this kind of issue will be solved.

No we do not need another fork, we need the solution of the devs to be fully implemented and that is not going to happen until next year, the only thing we can do now is to wait and see if the lightning network works, I have no doubt it will, but we will have to see it with our own eyes to finally settle that issue.

TopT3ns

hero member

Activity: 2548

Merit: 572

#SWGT CERTIK Audited

Quote from: Bitophile on November 27, 2017, 07:54:18 PM

As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.

i think the fee wouldn't down because it's already like that even the price not higher yet, and not it looks very high because the price of bitcoin and the fee is depends on KB and not value

kriticko29

full member

Activity: 336

Merit: 100

I would say this is the only time exchanges only make their profits co'z ever since the price dropped they only made a small amount of transaction fee's.

4p0l4k4y

full member

Activity: 448

Merit: 100

Virtual Assistant | Remote Admin Support

Yes absolutely right, the transaction fee is ridiculously high. Im wondering why ethereum can do it for a cheaper amount while bitcoin makes it difficult for its loyal customers. There should be a permanent resolution for this concern.

eann014

hero member

Activity: 1078

Merit: 501

Quote from: Bitophile on November 27, 2017, 07:54:18 PM

As the value of BTC has increased almost 10 fold, do we expect the fees to come down? The charge for small transactions are very high right now.

As long as the bitcoin price increases, transaction fees are also striking. I don't really expect fee's to come down, just make sense, bitcoin increasing so the fee's are also increasing.

slyfox

member

Activity: 350

Merit: 10

Quote from: littlewizard on November 27, 2017, 08:10:29 PM

Based on what I read, if the Lightning Network is in position, the transaction fees in the bitcoin side chains will be greatly reduced. Not sure how long it takes to implement the LN.. Hopefully not too late as Bitcoin user base is growing fast these days

Let us hope that is soon enough, it may happen at some point in the next year but there is not a definitive date, but I'm sure that when that happens a lot of people are going to have to eat their words when they said the lighting network was not going to work.

tientien333

member

Activity: 280

Merit: 10

The bitcoin fee is very expensive and time consuming.
Bitcoin tries a very large system and they are gradually improving their system to meet the needs of their customers Grin

joinfree

sr. member

Activity: 1246

Merit: 260

1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

It is not going to happen,at least, not for now, the fees are ridiculous high because there are not enough miners to cover all those hashpower that we need in order to process the transactions a little bit more faster.

But this is not the real problem, the size of the blocks are the real thing that are making the transactions goes much more slowly than before, and of course, much more expensive than before.

I just remember when i had to pay more than $20 worth of fees on november 12, i dont even know why did i paid them, but in the end, they are still at $6 at the moment, and they are so expensive compared to the fees of two or three months ago.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: dimastegar on November 27, 2017, 10:28:50 PM

Bitcoin Fee always rises even 10-fold, due to the Bitcoin price and slow Block transaction so it takes a long transaction time for each Bitcoin shipment. So the cost of fuel that we spend more because of the long journey that we travel.

Bitcoin fees don't rise or do not fall following the bitcoin price.
We gad higher fees in terms of USD when BTC was at around 3k than when it was at 8k

The fees are always determined by the number of transactions that wait to be included in the blocks and the willingness to pay a larger fee.
Demand and offer for the space in the block. Simple as that.
The price per coin is irrelevant.

Quote from: Juggy777 on November 28, 2017, 12:07:31 AM

There is no absolute way to get over the fees as it's the miners who control them and they don't care for end users,

Miners don't control fees.
Probably you have no idea how the whole thing works so better shut up that giving wrong advice and causing misunderstandings.
The ones that decide how much are they willing to pay are the users. Even the spammers of the chain have this possibility , they can check how much they want pay for each kb they spam the chain.
If nobody will pay more than 10satoshi/b miners will create 1mb blocks with 10sat/b transactions.
If we all decide it is worth paying 4000sat/b , then that will be the new average fee.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: pushups44 on November 28, 2017, 02:27:55 AM

Like Charlie Lee, who founded Litecoin, I think wider use of Segwit along with adopting the Lightning Network will be beneficial.

SegWit is active for quite a while now, and the majority of the services still haven't switched over to SegWit, which is quite annoying to be honest. It took us an incredible amount of time, drama and effort to get it activated, but it severely lacks actual usage. Not sure what services as Coinbase are waiting for, but a player from this magnitude can definitely give a first push forward when it comes to SegWit. Lightning Network is something that we'll get eventually, and will massively contribute to a better and cheaper currency experience, which is what most of the people here are desperately waiting for.

Topic: Reduced transaction fees (Read 962 times)