small fee makes transactions faster | Bitcointalksearch.org

klf

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Quote from: Harry Callahan on April 23, 2017, 05:18:15 PM

Quote from: aardvark15 on April 18, 2017, 11:42:47 AM

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.

The fees are getting larger without any doubt and with the increase in fees micro transactions are not possible with bitcoin and if the trend continues like this there will be a time when the transactions fees will be so huge that it will drive people away from bitcoin and you need to have a solution to counter the problem.

Yes, if fees go high and higher than for smaller transactions people may find some other potential alt-coins because there is no meaning in providing such a high prices for smaller amounts. But if you're sending big amounts then still current fees are not that high. Bitcoins are no more suitable for micro transactions.

BitFinnese

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Quote from: Sarah08 on April 17, 2017, 09:41:57 PM

For me no fee doesnt make the transaction faster or reverse i think it just take time making a confirmation in the transactions.
Maybe it depend in what bitcoin wallet you are using and there system the transaction depend on them when it connect in blockchain.
Taking an hour receiving transactions are just normal so better just be patient.

Well it is true that there is no fee that makes the transaction faster, it is fast as it is but the problem is the confirmation time. You know, people who make transaction, "bid" so that miners will pick their transaction first to be confirmed. Now there is where fee comes in. Higher fee will attract miners to accept your transaction to be included on the mined block.

Quote from: Sarah08 on April 17, 2017, 09:41:57 PM

Maybe it depend in what bitcoin wallet you are using and there system the transaction depend on them when it connect in blockchain.

Definitely this is wrong.

Quote from: Sarah08 on April 17, 2017, 09:41:57 PM

Taking an hour receiving transactions are just normal so better just be patient.

And an hour of receiving transaction is not normal, transaction is instant and even confirmation should not go beyond an hour to be confirmed.

Janation

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Quote from: Harry Callahan on April 23, 2017, 05:18:15 PM

Quote from: aardvark15 on April 18, 2017, 11:42:47 AM

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.

The fees are getting larger without any doubt and with the increase in fees micro transactions are not possible with bitcoin and if the trend continues like this there will be a time when the transactions fees will be so huge that it will drive people away from bitcoin and you need to have a solution to counter the problem.

More people are now using bitcoin, and with that many transactions are made everyday. As we all know the price are really high and small amount transactions are inevitable. But it always make a traffic in the network, so it is better to send a bitcoin with multiple receivers so the traffic can be minimized. I think it is goid if we can avoid transacting small amounts.

Harry Callahan

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Quote from: aardvark15 on April 18, 2017, 11:42:47 AM

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.

The fees are getting larger without any doubt and with the increase in fees micro transactions are not possible with bitcoin and if the trend continues like this there will be a time when the transactions fees will be so huge that it will drive people away from bitcoin and you need to have a solution to counter the problem.

JasonXG

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Quote from: stevano on March 29, 2017, 10:09:59 AM

why bitcoin transfer fee when most people give it in large quantities, but it will slow down the transaction itself, rather than using a bitcoin transfer fee sathosi 1000 it could be?

What is your opinion with bitcoin transfer with a large fee?

*facepalm*Is this real ? I feel bad even replying. Why are you saying things like this ?You are almost a full member and you say things like this ? What you are saying is the same as saying that if I put more fuel in my car i will go further because its lighter....

Much logic.

andrei56

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Quote from: Lagduf on April 17, 2017, 08:24:41 PM

Quote from: andrei56 on April 17, 2017, 12:20:58 PM

Quote from: Flanagan on April 12, 2017, 05:26:45 AM

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

not forever but few days, or the network will reject it for you and give you chance to increase the fee, bitcoin is now expensive.

It was hyperbole, but I get your point, if we don’t have any rush for our transaction to be confirmed by the miners then we can add a minimum fee and be happy when it goes through but if wee want fast confirmation because we need the money to arrive at its destination as fast as possible then a good fee is necessary for that.

aardvark15

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It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.

timerland

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Quote from: Sarah08 on April 17, 2017, 09:41:57 PM

For me no fee doesnt make the transaction faster or reverse i think it just take time making a confirmation in the transactions.
Maybe it depend in what bitcoin wallet you are using and there system the transaction depend on them when it connect in blockchain.
Taking an hour receiving transactions are just normal so better just be patient.

You have mistaken, the fee that you put up on your transactions determines how fast your bitcoins will get confirmed.
It is because the "mining fee" is a reward for people, who are confirming your transactions, obviously not for free.
You can get confirmations even very quick, but you need to spend some money for that, because last months, the commision for miners is pretty high.

For example, you may put up 0.002 fee on 0.3 transaction ( one input ), which will result that the money sent by you are going to be confirmed very fast.
I recommend you using https://bitcoinfees.21.co/ website.

CyberKuro

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Quote from: stevano on March 29, 2017, 11:19:58 AM

Quote from: Quartx on March 29, 2017, 10:22:03 AM

Quote from: stevano on March 29, 2017, 10:09:59 AM

why bitcoin transfer fee when most people give it in large quantities, but it will slow down the transaction itself, rather than using a bitcoin transfer fee sathosi 1000 it could be?

What is your opinion with bitcoin transfer with a large fee?

Apart from the fact that your sentences are almost unreadable.

The higher the bitcoin fees, the higher the chance of it getting confirmed in the shortest period of time

Transaction relay among nodes is a different factor from getting a transaction mined in a block.

not to increase the fee it will only burden the block in transporting transaction for a fee greater then the amount of the transaction size is also large, which should be with a small fee each block that could bring the 2000 transaction, but because of the number of fee-large will reduce the number of people who will carry out the transaction / uncofirmed

Transaction fee and confirmed tx are clear matter. Your opinion only works if all of the people who sending bitcoin agreed to use small amount of fee, but it won't be happen as people want their transaction get confirmed as fast as possible.
Yes, small byte fee may not burden the block but a fee calculate based on total size of a transaction, miner will choose to process some transaction which has bigger fees obviously.

Sarah08

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For me no fee doesnt make the transaction faster or reverse i think it just take time making a confirmation in the transactions.
Maybe it depend in what bitcoin wallet you are using and there system the transaction depend on them when it connect in blockchain.
Taking an hour receiving transactions are just normal so better just be patient.

Nomad88

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I have been sporting bitcoin ever since I met with it for the first time. But now, I have to admit that I use ETH more for daily use in order to pay less transaction fee.

Lagduf

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Quote from: andrei56 on April 17, 2017, 12:20:58 PM

Quote from: Flanagan on April 12, 2017, 05:26:45 AM

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

not forever but few days, or the network will reject it for you and give you chance to increase the fee, bitcoin is now expensive.

youdacapt

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GOD is TRUE

Quote from: pokerplayer on April 17, 2017, 05:29:53 PM

I think that you writed wrong I think that when fee is bigger than then you will get your money faster in your bitcoin wallet so less fee slowlier transaction and bigger fee transaction is faster.

Fee bit more feasible to make the transaction faster, but my opinion on this is wrong, because all transactions are processed with the same treatment even though there is a priority for some transactions. If MemPool flood, then the fee will have no effect at all, so that any fees will not affect anything when MemPool full.

pokerplayer

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I think that you writed wrong I think that when fee is bigger than then you will get your money faster in your bitcoin wallet so less fee slowlier transaction and bigger fee transaction is faster.

virtualkeybuyer

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It is the the situation of competition or we can say the demand as people often pay high fees because they want to be first to be confirmed they want to be in the first in the line for confirmation while those who pay low fees are far below from other for confirmation.

Spiranca

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when i use small fee i need to wait 2-3 days for Transaction confirmed and i hate that :v !

jak3

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nowadays every block of hashes (where transactions are being stored and being delivered to a random miner for verification) , every blocks size is atleast 2mb which is huge when transaction something from one side of the world to another side. Transaction fees matters mostly but if we do bulk transactions (multiple sending at once with a bigger fees) then i guess we can get faster transactions easily

Yakamoto

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Quote from: andrei56 on April 17, 2017, 12:20:58 PM

Quote from: Flanagan on April 12, 2017, 05:26:45 AM

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

Even with what people would call a "large" transaction fee (running somewhere close to about $0.90CAD or what would be about $0.80USD) it's not a bad fee if you want something to get somewhere quickly. Sure, it isn't a good fee and it is kind of expensive compared to other payment mediums, but considering it is still under $1 I don't think that's terrible for the convenience of speed. It would be nice if we could have the same speed and have it lower, but that won't happen till the blocks are fixed, however they may be.

andrei56

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Quote from: Flanagan on April 12, 2017, 05:26:45 AM

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

Xester

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Quote from: naughty1 on April 13, 2017, 04:55:13 AM

No, this is completely paradoxical. For bitcoin and many other currencies, we make bitcoin deals and we pay a small fee for it, and depending on the fees we charge The speed of the transaction will change. And of course, if you want to make transactions happen quickly, you should make a reasonable fee, and keep in mind that the higher the fee, the faster the speed, which is certainly, than what you say. It is paradoxical.

Using common sense miner fees are like the bidding for an item. The one who will have the highest bid will receive the item and so in terms of bitcoin transaction the one with the highest fee will receive the highest priority and will be the first one to be catered. Even in bitcoin industry there are the so called VIP and we cannot deny it since bitcoin means business and in business there are always fees.

Topic: small fee makes transactions faster (Read 5181 times)