small fee makes transactions faster - page 3.

Wapinter

legendary

Activity: 2688

Merit: 1026

Hire me for Bounty Management

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?

There must be an upper cap for fee.I feel the current fee system is favourable to those who have lots of bitcoin because they can pay high fee when they want quick transaction.

BeGoods

legendary

Activity: 1372

Merit: 1008

Quote from: MargonCreatives on April 12, 2017, 05:43:00 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?

I am not quite sure what you mean but remember fees paid is not counted in the transaction so it does not make the transaction bigger if you pay higher fees. Moreover though you should pay high fees to get fast confirmations but paying little fees can still get confirmed by either waiting or accelerating through viabtc

the greater the fee that you remove the miner will make your trasaction will be quickly confirmed as the miner will prioritize a larger fee

freebutcaged

hero member

Activity: 588

Merit: 541

It's all about the power play game, miners are greedy and want to take as much fees as they can while they can but when they see their actions are hurting the future of bitcoin I'm sure they'll solve the fee issues once and for all we just have to give it time a little while longer.

AicecreaME

sr. member

Activity: 2436

Merit: 455

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?

And I'm confused, how come that the transaction fee would slow down the transaction fee? This transaction fee is for our transaction to processed in time, or even faster if we are going to pay high transaction fee, because we are going to be prioritized amongst those bitcoin users who didn't pay higher transaction fee.

If we don't want to pay some transaction fees, because it is too expensive for us, then we have to wait for long, for our transaction to get confirmed.

Astvile

sr. member

Activity: 1484

Merit: 276

Quote from: SamMurphy on March 29, 2017, 10:16:54 AM

I thought it was the opposite :p I don't know, maybe it works in a few cases, but every time I choose small or regular fee it takes ages to confirm the transaction :/ Maybe this happening bcs of the time you try to make a transaction, or maybe the amount you wanna send.

For other people and what i am experiencing i experience faster transactions time to time when it has a higher transaction fee on the mining pool.Because i think they prioritize transactions who pays more transaction fee than the transaction with small transaction fee.

hajimasan

hero member

Activity: 882

Merit: 500

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?

Its hard to read your post but here my thoughts are simple for the bitcoin fee transactions .
Here exists a competition to pay high fee for the confirmation of your transaction , higher the fee higher the chance to get confirm in minute .
But beside of this factor it mainly depends upon the input and output of the bitcoin amount that you want transact .
So here it always remain more better that you should pay recommended fee that your wallet shows during transfer .

MargonCreatives

sr. member

Activity: 336

Merit: 250

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?

I am not quite sure what you mean but remember fees paid is not counted in the transaction so it does not make the transaction bigger if you pay higher fees. Moreover though you should pay high fees to get fast confirmations but paying little fees can still get confirmed by either waiting or accelerating through viabtc

cryp24x

sr. member

Activity: 1190

Merit: 253

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?

As far as I know, larger fee will be more likely to be confirmed first. It is the rule of the code, and exploited by miners. Miners prioritized higher fees, it is not how much fee we send but rather the ratio of the fee to the number of bytes sent. It is possible for a 40k satoshi fee with transaction ratio of 200 sat/bytes to be confirmed first than 80k satoshi with transaction ratio of 80 sat/bytes.

Flanagan

full member

Activity: 204

Merit: 100

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

Sr.Urbanist

full member

Activity: 315

Merit: 120

Quote from: SvenBomvolen on March 29, 2017, 12:31:43 PM

With the growing of Bitcoin's popularity, increasing the workload of its blockchain. This entails serious consequences for the price of bitcoin payments. The fees are also increasing.

If they'd increase the blocksize instead of a small group of two companies: blockstream and "Core" trying to skim with SegWit.

Yes. I am moving to LiteCoin. I think it is superior:

1. 2.5 min block times
2. 2 MB block size
3. 0 transaction fees
4. 25MB block payout

The Bitcoin Core team (clever name for a company) is trying to hijack it, so they can put their nerdy bitcoins in cold storage. They literally think $100 transaction fees are good. T

Two of my favorites on the subject:

"Hidden Story of Bitcoin Unlimited" (hint: it started on this site)
https://news.btc.com/m/4616?id=4616&v=2&fromapp=0

SegWit vs. Bitcoin Unlimited:
https://youtu.be/JarEszFY1WY?t=43m26s

DoublerHunter

hero member

Activity: 2590

Merit: 644

Smaller fees then it is equal to longer transactions or confirmation time. There is no proof that small fees makes the transaction faster because it will just make the transaction less priority for the miners because the miners always confirm those who have big fees on their transactions. So i don't think this title of the topic is true. Be realistic.

ranggenga

sr. member

Activity: 714

Merit: 250

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?

are you sure ? i do not think so.. in my opinion fast or slow the transaction from the user transaction not the fee . if many user transaction maybe is full like the street in the big town Grin

Windpower

hero member

Activity: 532

Merit: 501

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?

Although it may seem like it's better to use a higher fee to make sure that your Bitcoin gets sent quickly, it really isn't. The higher your fees, the more priority you get, however, you don't get that much priority and people that have lower fees might actually get their transaction into a block first. It is really weird and to be honest, I don't really know how it works.

emezh10

hero member

Activity: 826

Merit: 501

Yes small fees can make that transaction prioritized because every second there are so many transaction that happen so I think if you will pay a small fee for your transaction be prioritized is reasonable, And that is true the small fees make your transaction be faster and more prioritized.

Restmand

sr. member

Activity: 979

Merit: 258

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?

The larger the fee of your transaction the more prioritized you are. Because I saw a bitcoin that wallet that there's a 3 kind of fee the free, normal and the VIP in each of them the VIP has the fastest transfer rate and the more prioritized but the fee there is little expensive so I think fee will prioritized transaction.

andrei56

sr. member

Activity: 840

Merit: 254

Quote from: casinobitcoin on April 06, 2017, 07:57:05 AM

Doesn't it make sense? It sucks, but sadly it's a reality.
When you get a ticket for a concert do you get better seats for a lower price? No.
That's just the way things work.
Anyway - fees aren't really that big so no need to get upset about things. Not that I like to pay fees as well...

Bitcoin is great but we are no immune to the realities of the world, you get what you paid for, so if you want faster confirmation times then you need to pay extra and if you don’t want to pay or you can’t then we have no other option but to wait.

e-coinomist

legendary

Activity: 2380

Merit: 1085

Money often costs too much.

Quote from: taxmanmt5 on April 07, 2017, 01:56:22 PM

traders please use viabtc.com/tools/txaccelerator/ to speed up your tx some time tx stucks in pool thats why not gets confirmations fast use this free service to speed up your tx confirmations. It works with low tx fee also Wink

Not really the solution. Just taking their somewhat "political" statement

Quote

ViaBTC Service Statement

ViaBTC is of the opinion that the current "Bitcoin Core + Blockstream” Bitcoin development team is not taking satisfactory steps to ensure the growth and advancement of Bitcoin in accordance with satoshi's original white paper, and is in fact actively harming the health of the Bitcoin economy by actively stifling efforts to solve some of Bitcoin’s most pressing problems.

Seemingly a BU pool placing TX requests into their queque with some priority. If each fraction starts to support only their followers, we are still stuck on the same basic problem.

taxmanmt5

legendary

Activity: 1190

Merit: 1024

traders please use viabtc.com/tools/txaccelerator/ to speed up your tx some time tx stucks in pool thats why not gets confirmations fast use this free service to speed up your tx confirmations. It works with low tx fee also Wink

taxmanmt5

legendary

Activity: 1190

Merit: 1024

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?

I guess it is not the situation you mean. The higher the transaction fee you give the fastest your transaction to be confirmed. The smallest you give the slower confirmation you can have.

LeyMonte

sr. member

Activity: 392

Merit: 250

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.

i have observe that too.. heis making confusion about his sentence. anyway it is true that the higher the fee the faster it is confirmed.

Topic: small fee makes transactions faster - page 3. (Read 5181 times)