Topic: Solution to the high transaction fees at Bitcoin? (Read 1727 times)

I don`t have a problem with the transaction fees and i don`t know if only blockchain charges high fees.

Just don`t use blockchain and move to another service.

I guess  this is a problem of every currency payment system.

The transaction fees are small when it launches and start to rise.

i am glad to see others are saying the same thing as i have been thinking too. the same thing is true here.
i have never made an international transaction so i don't know how that is going to work,
but as far as inside country transactions like between banks, and from one person to another there are ways you can use with 0 fee and there are ways with a fix amount of fee as big as 10 cents or less and they are instant.

If you're feeling not good for this current blockchain fees (which is actually normal) then I suggest you to avoid doing a small amount transaction, by that I mean you have to do a transaction when you really have to do it. If you have to buy something with your Bitcoin but it just requires a small amount let's say you want to buy an apple which costs 0.001BTC, then you should wait til you got enough money for buying it in a bucket which usually has a lower price so you'll just have to pay the fee once.

In my country, you can transfer free and almost instantly inside the country. The international transaction is expensive.

XAPO? but I may suggest if in this time the users of xapo are having a problem with it. But I never try the wallet doesn't have fees.

https://bitcointalksearch.org/topic/best-online-wallet-without-fee-925838

but without a fees you will never get a confirmation.

I find the transaction fees for bitcoin very frustrating sometimes, I often send small amounts of bitcoins multiple times and end up paying huge fees. One solution I found is to use Xapo, they cover the transaction fee so this may be a good solution.

0.00010000 =$0.06

thats an hours labour in a few countries.
bitcoin was suppose to have no barriers of utility/entry.. yet i cant see anyone being happy if they were told it would cost an hours labour just to move funds.

yes it gets "profitable" to use if they want to move 50x the fee in one go. because thats 2%, compared to visa/mastercard/paypals 2.5%.

but then bitcoin only becomes useful to move a weeks wage, and not really worth using to spend on anything smaller then a weeks wage.
and this is why bitcoin is only being used day to day by the developed countries, while developing countries dont use bitcoin for its intended purpose. but will try scamming users, spamming users to get their hands on a few cents via ponzi's, sig campaigns and faucet raiding

doesn't need a solution to high transaction costs, the transaction fees charged for send bitcoin is already at a low point if you use blockchain currently they only charge satoshi 10k ++.

I beg to differ, the average tx fees of banks in Africa is still higher than bitcoin will ever be. The banks bundle the tx fees, with other

service fees, so they make it terribly hard for clients to see what the real tx fees are. If you use Bitcoin without third party service and

wallet providers, the fees will always be much lower than any bank or remittance service in Africa. 

hoestly i am not a blockchain user anymore i left using their wallet many months ago or maybe 1year ago. i have tested a lot of wallets and i am now stucked with mycelium wallet its an android based wallet and its a light wallet i pay very low tax in it something like 4000-7000 or even 9000satoshi sometimes for each transaction depending on the amounts like 0.03btc-0.15btc and it is also a zero confirmation wallet so i do not have to wait hours to access my balance i can use it in seconds

This is one of the problem bitcoin solve, transaction fee is the same anywhere  in the world.  From point a to point b whether it is local transaction or international transaction  the transaction fee does not change.  Another good thing with bitcoin is the security.  Since hacker will have a hard  time to hack your bitcoin wallet and use the coin inside that wallet.

First, you should select a wallet that allows you to manually set the fees that you'd like and also probably something that determines the fees for you if the blocks are full. The closest I can relate to is the Electrum wallet. Considering that you don't have the whole blockchain downloaded (could be one of the reasons you're using blockchain.info's wallet), you can use a lightweight SPV wallet that has multiple servers that have the blockchain downloaded within them. With electrum you can set the transaction fee but make sure to check bitcoinfees.21.co for the appropriate/cheapest and fastest transaction fee. If you're at no hurry you can specify the next slowest transaction fee which will be even cheaper. Also the transaction fees mentioned by default in there is for 'per byte' you'll need to calculate your transaction size and then derive the fee. Always go for the fee's in green and ignore the ones in red.

Also remember as more and more people start using Bitcoin and as miners get busier they'll only start considering Bitcoin transactions with fees and as time progresses this fee will increase. You'll just need to consider this as a donation or incentive to the miners for their large investment made to mine. Right now miners receive Bitcoin mining reward but in the future this reward will be so small such that they'll have to sustain with higher fees.

Well... I think you can be decrease the fees of transaction before send bitcoins on your wallet, although it will make long time until the transaction be veryfied by miners. Because there are not choice for send bitcoins with free fees, except you sell bitcoins into paper wallet.

That kind of fee is quite reasonable. But the confirmation time is still quite slow. It is better to be between 1 to 2 blocks.

Blockchain fee is 10 000 satoshis, and for that amount confirmation time is pretty fast. In beginning I thought is too much, but its reasonable. We help miners, and for that amount confirmation is faster then without fees.
Its less then 10 cents, lets be real what can you do with that money? I think this is a good way for work, people who take that money will have wish to be even better in the future. Every work deserve to be paid, so I`m ok with any fees as long as its reasonable price.

There's a simple solution, use some other currency, litecoin, dogecoin are pretty good coins with low transaction fees, you only use bitcoin for big transactions and avoid making any unnecessary or avoid bitcoin at all.

maybe in pre historic shit holes like the usa. in other places in the world you can transfer instantly and free with your bank account.

In my view bitcoin transaction fees are not high. Approximately we just need to the only 0.05% as fee for the amount we are transacting. I just see another thread appreciating about bitcoin's lower transaction fees and here a thread for discussing about solution to high transaction fees.

I am not yet transacting high amounts of bitcoin so i really can't feel the fees you are saying yet. But i think that it is just normal? well if i were still to choose of course i should go with lesser fees.

In my country, if I do a domestic transfer of money, there is no fee. If I do international transfer, the fee is high.