Slow payments and fees solution??? | Bitcointalksearch.org

giveen

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Quote from: susila_bai on May 09, 2017, 09:39:04 AM

Quote from: giveen on May 07, 2017, 01:14:36 PM

Now recently i have seen many people complaining about the bitcoin transaction fees and the time to process payments. I have been using xapo as my wallet since starting and i also feel that this is the wallet for the solution to both of these issues.
Now xapo normally sends all your payments instantly who's value is 0.01 btc or more. For the rest it may take 24 hours. What i have noticed is is that xapo doesn't take any fees when you send it instead they group multiple transactions to save fees for the smaller amounts and for bigger amounts doesn't charge any fees. In terms of speed also most of the payments i send i confirmed within 20 minutes. Let me know what you think about xapo or your experience or opinion about it

Xapo is a web wallet and it is always not recommended to use web wallet to store your bitcoins, using this web wallet for faucet earning is good but storing the bitcoins is not safe.

Seriously what are you some big whale how has thousands of bitcoin with yourselves. You will mostly have bitcoin in a smaller amount and I'm assuming you may purchase few things using bitcoin. If you have a wallet you will always have to pay fees and wait for hours. While with xapo no fees and 1 confirmation within 4 minutes.

carlfebz2

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Quote from: OliynyK on May 09, 2017, 08:39:59 AM

Quote from: Zadicar on May 09, 2017, 07:25:52 AM

ive been using coinbase in the past because they dont really charge you some fees when you make transfers of bitcoin into another wallet but later on they do already demanded some fees which i do really consider it too high compared on other wallet but still a good choice because it confirms in no time dont like on having smaller fees or not putting at all.I strongly believe this will also happen to xapo even though im not using it but later on it will surely demand some fees.

It is only a matter of time that even Xapo starts collecting fees from its users as the fees are increasing they are loosing in money doing transactions and from what i understand they are not earning any profit by being a wallet,i am not sure how they are managing to put the fees,i would like to know how much money they are spending on a daily basis as transaction fees.

You wont know such thing because its only on owners side knowing their profits on certain transactions.I don't know why they aren't still charging or adjusting some fee on any transfers because which I saw most of exchange and online wallets do already charge fees on each transfer.If they can able to sustain the fees on their users then it would be fine but we don't have any complaints if a certain transaction would be long or fast.It does depend on the fee putted on.

giveen

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If you all see the fee structure of xapo most if you will be shocked. If the amount you receive is less than 0.0006 they will charge you fees otherwise no fees. And it is mentioned for sending transactions fees is 0.0005 but till now they have never charged me. Check it out guys : https://in.xapo.com/fees/. Maybe they will introduce fees in future idk it's better if we take the advantage of this offer

paul gatt

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Quote from: Sidas_Crew669 on May 09, 2017, 10:26:17 AM

Quote from: Meowth05 on May 08, 2017, 12:27:25 PM

Yeah i just do this for a fast transaction pretty good you have a choice for your transactions if you wanted a fast transaction you can just pay high fees that pretty much fair for me and also a good feature for manu bitcoin wallets.

Indeed for now some say that gives the high fee will provide confirmation in speed becomes faster than normal (default). But I get or feel is fee high or standard has the same rate of speed, it could be said that the higher fee just dumped a lot of money. Unless we have some reasoning then it's worth using a high fee. Because sometimes the way I use different with you, or perhaps a website can take advantage of the exchangers in order to get the confirmation of the greater of the wallet that we have

Theoretically, if you pay a high fee, your transaction will be confirmed quickly, and most people will agree. However, it is only partially true, in fact, reasonable charges always give a quick confirmation time, so do not waste too much money to pay for the miners. Especially in the present time, bitcoin surge dramatically, which makes the cost we spend much more expensive than before.

Sidas_Crew669

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Quote from: Meowth05 on May 08, 2017, 12:27:25 PM

Yeah i just do this for a fast transaction pretty good you have a choice for your transactions if you wanted a fast transaction you can just pay high fees that pretty much fair for me and also a good feature for manu bitcoin wallets.

Indeed for now some say that gives the high fee will provide confirmation in speed becomes faster than normal (default). But I get or feel is fee high or standard has the same rate of speed, it could be said that the higher fee just dumped a lot of money. Unless we have some reasoning then it's worth using a high fee. Because sometimes the way I use different with you, or perhaps a website can take advantage of the exchangers in order to get the confirmation of the greater of the wallet that we have

MI6

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i always use exchanger for my wallet, even i know it is not 100% safe because we not hold the private key but for sending / receive not get any problem yet

Xester

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Quote from: Hypnosis00 on May 09, 2017, 09:35:06 AM

I think the solution for the slow payments and for the fee is can be done only by the core team of bitcoin because they know what is the best for bitcoin and they can fix it by applying some improvements for bitcoin. We just need to have patience for waiting for the fix and after that we can really get a faster version of bitcoin.

Will the core really solve the problem or can just worsen the situation. As we have heard and read on the news about bitcoin that Bitcoin Unlimited nodes have crashed and today the only thing working is the core developers code. If it is true that the spam attacks on the network are done by the BU then we can expect lower fees and fast confirmation coming from the core but it is still not clear as to what or who caused the high miner fees. Possibly even if the core developers take over the price will still climb up. I hope I am wrong.

susila_bai

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Quote from: giveen on May 07, 2017, 01:14:36 PM

Now recently i have seen many people complaining about the bitcoin transaction fees and the time to process payments. I have been using xapo as my wallet since starting and i also feel that this is the wallet for the solution to both of these issues.
Now xapo normally sends all your payments instantly who's value is 0.01 btc or more. For the rest it may take 24 hours. What i have noticed is is that xapo doesn't take any fees when you send it instead they group multiple transactions to save fees for the smaller amounts and for bigger amounts doesn't charge any fees. In terms of speed also most of the payments i send i confirmed within 20 minutes. Let me know what you think about xapo or your experience or opinion about it

Xapo is a web wallet and it is always not recommended to use web wallet to store your bitcoins, using this web wallet for faucet earning is good but storing the bitcoins is not safe.

Hypnosis00

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I think the solution for the slow payments and for the fee is can be done only by the core team of bitcoin because they know what is the best for bitcoin and they can fix it by applying some improvements for bitcoin. We just need to have patience for waiting for the fix and after that we can really get a faster version of bitcoin.

OliynyK

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Quote from: Zadicar on May 09, 2017, 07:25:52 AM

ive been using coinbase in the past because they dont really charge you some fees when you make transfers of bitcoin into another wallet but later on they do already demanded some fees which i do really consider it too high compared on other wallet but still a good choice because it confirms in no time dont like on having smaller fees or not putting at all.I strongly believe this will also happen to xapo even though im not using it but later on it will surely demand some fees.

It is only a matter of time that even Xapo starts collecting fees from its users as the fees are increasing they are loosing in money doing transactions and from what i understand they are not earning any profit by being a wallet,i am not sure how they are managing to put the fees,i would like to know how much money they are spending on a daily basis as transaction fees.

Zadicar

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Quote from: mrcash02 on May 07, 2017, 01:31:16 PM

I don't use Xapo, but Coinbase wallet used the same system of free transaction and after some time they removed it, now you must pay fees there. I believe the same will happen on Xapo sooner or later, transactions can be free now for Xapo users, but aren't for Xapo itself. The only solution for this is a general solution that will afect all transactions, that is what community is trying to implement, but the opinions are divided yet about the best option.

Correct,ive been using coinbase in the past because they dont really charge you some fees when you make transfers of bitcoin into another wallet but later on they do already demanded some fees which i do really consider it too high compared on other wallet but still a good choice because it confirms in no time dont like on having smaller fees or not putting at all.I strongly believe this will also happen to xapo even though im not using it but later on it will surely demand some fees.

Cherylstar86

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Quote from: DoublerHunter on May 09, 2017, 06:23:35 AM

I think the solution for the slow payments or confirmations and also the fees is having a lot more miners in the network to sustain the needs of the bitcoin network. We all know that the numbers of bitcoin users are increasing so it makes a lot of traffic from the network because of the transactions and the only thing that i know that can solve this problem is having an extra more miners in the network so the confirmation will be fast and the transactions will be faster and there is a possibility for bitcoin to charge a cheaper fee.

Having more miners is not the right idea to have and is not a good solutions of slow payments fees, because it's a reverse psychology as what have mentioned. It will not help resolve network traffic but rather makes the problem worst, it will remain same as what non miners experiences. Blockchain networks slow payment fees has the solutions of making the services fast by means of improving the network speed, and must accept suggestions from the users so they maybe have transparency of what's been goin on; in order to make it fast payment fees transactions.

DoublerHunter

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I think the solution for the slow payments or confirmations and also the fees is having a lot more miners in the network to sustain the needs of the bitcoin network. We all know that the numbers of bitcoin users are increasing so it makes a lot of traffic from the network because of the transactions and the only thing that i know that can solve this problem is having an extra more miners in the network so the confirmation will be fast and the transactions will be faster and there is a possibility for bitcoin to charge a cheaper fee.

btccashacc

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Quote from: giveen on May 07, 2017, 01:14:36 PM

Now recently i have seen many people complaining about the bitcoin transaction fees and the time to process payments. I have been using xapo as my wallet since starting and i also feel that this is the wallet for the solution to both of these issues.
Now xapo normally sends all your payments instantly who's value is 0.01 btc or more. For the rest it may take 24 hours. What i have noticed is is that xapo doesn't take any fees when you send it instead they group multiple transactions to save fees for the smaller amounts and for bigger amounts doesn't charge any fees. In terms of speed also most of the payments i send i confirmed within 20 minutes. Let me know what you think about xapo or your experience or opinion about it

I was a xapo user but they locked my account for some reasons that i don't know what exactly it is so i leave it alone, but that's not a big deal since i didn't put all of bitcoins our there. Like people mentioned above it's not xapo's fault but the blockchain itself, i remember the time when we sent bitcoin simplest,faster and cheapest of course we didn't have to calculated how much fee to get fast confirmation, but now seems like annoying, i have tired to calculate how much fee should i use before do a transaction in order to get fast confirmation, i hope this problem will be fixed soon by the community.

DooMAD

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Quote from: jonald_fyookball on May 08, 2017, 11:14:17 PM

The solution is to petition the miners to raise the blocksize..right now they are a little unsure what to do -- please tell them we want more capacity. The core roadmap is not being accepted because core already lost the trust of the miners.... so lets just ask for 2mb hard fork, its very freakin simple.

I still think a static figure is shortsighted to put it mildly. If there has to be a hard fork, let's make it one that doesn't result in the need for another one when we hit the new static limit later. If people want to have all this drama repeated again in the future, then I have to assume masochism on their part. The solution should be adaptive. Forget the overly simplistic 'whole numbers' mindset.

1Referee

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Quote from: jonald_fyookball on May 08, 2017, 11:14:17 PM

The core roadmap is not being accepted because core already lost the trust of the miners....

Miners not seeing a solution in Segwit (which indeed is not a solution) doesn't mean they have lost trust in the Core team - it's just something that plays in your mind, and that's it. Thing is that Segwit is by far the best option that we have right now. If the miners that signal BU support right now were really seeing value in BU, they would allocate enough hash power to initiate a hard fork. Let's be honest, if you have zero confidence in something, why would you not directly act and shift over to something that works better? In this case, simply because BU isn't better. Wink

allthebitandbobs

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I just dont used bitcoin to transfer money unless i really have to .I used a altcoin with a lower fee and faster transfer time.If i am stcuk to use bitcoin i make sure i transfer alot at a time .Small transctions will kill you with fees

Senja Kemuning

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Here's the thing I love about our speed, i.e. it is not possible at low cost can make transactions fast. the solution to getting a fast transaction is cost.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

The solution is to petition the miners to raise the blocksize..right now they are a little unsure what to do -- please tell them we want more capacity. The core roadmap is not being accepted because core already lost the trust of the miners.... so lets just ask for 2mb hard fork, its very freakin simple.

LegendOF45

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This is a problem that continues to grow, the fair if more and more users then the transaction to be slow. I think this is a weakness of the bitcoin side because it does not anticipate the magnitude of the transaction.

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