small fee makes transactions faster - page 4.

shinratensei_

legendary

Activity: 3234

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: bajing on April 06, 2017, 08:57:40 AM

That i know if you increased transaction fee will make your transaction fast get confirmation but if you pay small transaction fee will make your transaction slowly to get confirmation or maybe your transaction get canceled because your transaction did not get confirmation until the deadline that has been set.

Wrong, pay more fees will make your transaction priority was increased to get the block's validation ( confirmation ).

Quote from: webtricks on April 06, 2017, 11:58:10 AM

Maybe it is too high as compared to 3-4 years back or maybe less as when compared to coming years.

It's really high and you can see the chart of the total transaction on the blockchain.
https://blockchain.info/charts/transaction-fees

Quote from: webtricks on April 06, 2017, 11:58:10 AM

Fees is growing concern for Bitcoin world, it is one of the side-result of growing environment. Like "corruption is side-result of growing bureaucracy environment." It is main reason why we see possibilities of hard fork like #BTU.

No, the current possibility hardfork is the political reason in my mind. Some scaling solution and the winner can take the advantage of changing the rule and the block structure of the bitcoin.

daringdiscovered

hero member

Activity: 700

Merit: 500

Quote from: stevano on March 29, 2017, 11:09:59 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?

Seriously? Didn't you experience to transfer funds from another wallet to another one and have this transaction fee? Of course smaller fee won't make the transaction fast, it is the other way around, if you want to have a fast transaction, then pay more, because that's how it works in this world, though this higher transaction fee is so annoying because it seems like the miners don't leaves us a choice, they are taking the advantage.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: bajing on April 06, 2017, 08:57:40 AM

That i know if you increased transaction fee will make your transaction fast get confirmation but if you pay small transaction fee will make your transaction slowly to get confirmation or maybe your transaction get canceled because your transaction did not get confirmation until the deadline that has been set.

But still I do not think anyone transfer their bitcoin with the high fees. minimum fees itself enough to transfer their bitcoins and it will get confirmed with in the 30 minutes normally. Then, you could have noticed the minimum fees in blockchain and other wallet sites has been increased. I have compared most of the wallet. Coinbase comparatively consumes less fees than others.

webtricks

legendary

Activity: 1918

Merit: 1728

Quote from: bajing on April 06, 2017, 08:57:40 AM

That i know if you increased transaction fee will make your transaction fast get confirmation but if you pay small transaction fee will make your transaction slowly to get confirmation or maybe your transaction get canceled because your transaction did not get confirmation until the deadline that has been set.

Completely agree. Higher the fee, faster goes the transaction.
However, we don't have any definition for high/low fees. Fees is situation specific, currently $0.4-$0.5 is recommended for transaction upto 0.1 BTC. Maybe it is too high as compared to 3-4 years back or maybe less as when compared to coming years. Fees is growing concern for Bitcoin world, it is one of the side-result of growing environment. Like "corruption is side-result of growing bureaucracy environment." It is main reason why we see possibilities of hard fork like #BTU.

speedcoin

newbie

Activity: 31

Merit: 0

Quote from: CryptoCurrencyInc.com on March 29, 2017, 12:22:05 PM

Small fees will never make transactions faster and you may have to wait even 1 or 2 days for your transaction to get confirmed and if you want faster confirmation then add higher fees and your transaction will get confirmed in around 30 minutes.

Absolutely agree. Blockchain have 16,000+ unconfirmed transactions now - https://blockchain.info/unconfirmed-transactions, not 3,000-4,000 as year ago.

bajing

legendary

Activity: 1176

Merit: 1001

The most Professional Cryptocurrency Casino

That i know if you increased transaction fee will make your transaction fast get confirmation but if you pay small transaction fee will make your transaction slowly to get confirmation or maybe your transaction get canceled because your transaction did not get confirmation until the deadline that has been set.

casinobitcoin

hero member

Activity: 663

Merit: 500

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...

chixka000

hero member

Activity: 910

Merit: 500

Sad to say but that is reality. If you could provide a higher fees than you can be considered as the main priority or shall we say a vip and if you are the miner then you will of course choose the higher income right?

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: stevano on March 29, 2017, 11:09:59 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?

because by using a large fee then your transaction will be prioritized to receive confirmation of first? small fee will take a long time to be confirmed now

FasTroy

sr. member

Activity: 434

Merit: 250

Quote from: JL421 on March 29, 2017, 12:37:20 PM

Now i don't even care for fees. The reason i use coinbase as my wallet and they never took fees in past and normally when i sent bitcoins it was sent within 40 minutes. Now they introduced 0.5$ fees and they told it is being charged for faster transactions. And now just to get 1 confirmation it takes an hour even after paying the fees. Conclusion the more fees you pay it takes more time.

I don't have any problem with bitcoin transactions fees, because i used xapo wallet which it pay the fees for you. By the way transactions from xapo to xapo is instantly. and transactions from xapo to outside it take some times, I think around 1h30-4h, 5 hours in worst case. Maybe you are right about the more fees you pay, transactions takes more time to be confirmed.

mmo_online_1981

sr. member

Activity: 798

Merit: 250

I think lower fee for send BTC, You can not sent BTC in one day at the monent!

e-coinomist

legendary

Activity: 2380

Merit: 1085

Money often costs too much.

Quote from: bravehearth0319 on April 05, 2017, 05:24:12 PM

Quote from: stevano on March 29, 2017, 11:09:59 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?

In my ideas about it, If you pay higher fee in your transaction there is a big chance for you to be confirm in a fastest way, but sometimes even you pay higher it is still unconfirmed for an hour. But it is really worst if you pay low fee's. you will wait for a long hours sometimes it takes 2 days before it confirm.

Always using the lowest possible but greater zero fees. If it times out, resent. For a quick transfer of value there's always LTC at the ready.
That's absolutely no selling point "but btc transactions are expensive, or slow" in advertisement.

We always questioned ourselfes what copied derivatives of btc's source code could do better. Always in front of breaking the social contract of limited coin supply, just take a look at LTC it's several times more supply available than BTC. But I think that does no more hinder adoption even if LTC could only reach 250$ at ATH, could still carry the same market cap.

rajasumi3

full member

Activity: 266

Merit: 100

well its because of the increased traffic and the problem to be resolved very soon.i think the transaction fees should be kept in control otherwise it is going to be the decline of bitcoins,.

Rajchandu

newbie

Activity: 38

Merit: 0

I think it is fair to pay bitcoin transfer or transactions with a large fee because the miners can't sustain the network if they didn't get enough profit in supporting bitcoin network. Larger or more expensive fees will help you to make the confirmations even faster and i think we should practice being used of that.

olubams

hero member

Activity: 798

Merit: 503

Quote from: stevano on March 29, 2017, 11:09:59 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?

It seems op haven't made some transfers in recent time because if you do you know without high fees your transaction will take forever however its not neccesarily means the higher the tx fee the faster because sometimes using blockchain, I have witnessed the site recommending me use a lower fee that using a higher fee will not necessarily means its going any faster than using the recommended fee. So I just revert to what is being given to me to use to achieve the transaction in the least possible time...

Vivace92

member

Activity: 112

Merit: 10

The existence of the bitcoin really makes me amazed, transactions for a small fee but it is faster than the banks, maybe up to 100 times. Can't argue with the facts of the bitcoin transaction is faster.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: KennyR on April 06, 2017, 03:27:57 AM

Small transaction all the time won't help with faster transaction confirmation. At times lucky people get it depending upon the miner involved with the particular transaction. Small transaction fee gives faster confirmation when the transaction amount too is found low in value.

If the miners fee is low than the minimum it could be slow transaction.. we need to relay in transaction size if you pay a small fee if the transaction size is high the speed of the transaction can be affect it could be slow.. so always check good size of the transaction and pay for an enough fee it can be the transaction going to normal or fast.
You can relay in this chart
https://bitcoinfees.21.co/
But there is no way to know what will be the transaction size if you sent it first..
Just use electrum instead for estimator and use the dynamic fees so that you know what speed you want to mine.

KennyR

hero member

Activity: 2310

Merit: 532

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Small transaction all the time won't help with faster transaction confirmation. At times lucky people get it depending upon the miner involved with the particular transaction. Small transaction fee gives faster confirmation when the transaction amount too is found low in value.

Cangkeman Wae

member

Activity: 826

Merit: 10

Quote from: Taki on March 29, 2017, 01:44:40 PM

Quote from: CryptoCurrencyInc.com on March 29, 2017, 12:22:05 PM

Small fees will never make transactions faster and you may have to wait even 1 or 2 days for your transaction to get confirmed and if you want faster confirmation then add higher fees and your transaction will get confirmed in around 30 minutes.

That's right, if you want faster transactions you have to pay higher fees. I don't care about how transaction fast is, to me it's ok to wait hours or a whole day. So, I prefer to pay as low fees as possible with waiting so long.

I was never convinced that a transaction with a small fee can make transactions more quickly, but with bitcoin it can happen because it is made for cheap and quick transactions.

Sadlife

sr. member

Activity: 1400

Merit: 269

Quote from: stevano on March 29, 2017, 11:09:59 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?

Couldn't understand your sentence at first but i eventually get it.

Because with large fee your transaction will get confirmed faster. We relay transactions to the miners and this miners broadcast nodes to other miners for your blocks to get process.

Topic: small fee makes transactions faster - page 4. (Read 5134 times)