Topic: The transaction fee is just ridiculous. - page 4. (Read 17471 times)
Transaction fee is not high. If you make small BTC transfer, then fee is too high. You can try to pay smaller fee, but the question then will be - when transfer will arrive. With standart fee 0.0001 BTC, transfer go instantly.
Out of curiosity.
Even when setting the tx fee to 0 in settings (bitcoin core client), when sending a payment I get a similar popup.
Yes - Send transaction and pay fee
Cancel - Cancel transaction
How is it then "optional" to pay the fee? There doesn't seem to be a way around it.
Even when setting the tx fee to 0 in settings (bitcoin core client), when sending a payment I get a similar popup.
Yes - Send transaction and pay fee
Cancel - Cancel transaction
How is it then "optional" to pay the fee? There doesn't seem to be a way around it.
What about those moments when people accidentally omit a few zeros and end up sending transactions with 0.1 BTC worth of fees?
This is when the importance of attention to detail is made more clear. Additionally most clients will automatically setup the TX for you including the suggested fee to include in order to have the transaction confirm quickly.Additionally, I can say that I have, on a few occasions included a .001 TX fee instead of a .0001 TX fee, however I think that a $0.40 fee is still very cost efficient and I have sent enough no TX fee TXs so that my average fee is under .0001 even with these mistakes
What about those moments when people accidentally omit a few zeros and end up sending transactions with 0.1 BTC worth of fees?
In that case I'm afraid it's bad news. 
Or if you are the miner who included your block, It's good news.
As a miner... there's no problem with that 
What about those moments when people accidentally omit a few zeros and end up sending transactions with 0.1 BTC worth of fees?
They're not always small if you pay. This one time, at band camp, I sent a tx with full fee, and the network hit a "bad luck" patch, half hour between blocks, and txs got backed up, took 12 hours to confirm. Then another time, sent a small one without fee, and network was in a "good luck" patch with 6 blocks in 25 mins, so got 6 confirms in 25 min.
You are not forced to pay a TX fee (probably said at least 10x so far in this thread) although removing the TX fee from your TX will generally cause small delays in the confirmation of your transaction.
The delays are not always small - there are various factors (including the settings of the major mining pools) that have implications upon whether you're transaction will actually ever go through. Generally though larger transactions (>1000 bytes) may not pass without a fee.
can we remove it it?
You are not forced to pay a TX fee (probably said at least 10x so far in this thread) although removing the TX fee from your TX will generally cause small delays in the confirmation of your transaction. Even without a TX fee your transaction will likely still be confirmed in much less time then most other remittance services can offer.
IMO the OP has lost all credibility by making this thread.
can we remove it it?
If you don't pay a tx fee, the transaction may take several days to confirm. Sometimes they confirm within a few hours. I've had one take a day or two, I forgot. Even if it takes 3 days, this is still much faster than waiting for a bank or demand draft from another country to clear.
Currently, a minimum tx fee of 0.00001 BTC will ensure that your transaction will confirm within the next couple of hours, probably sooner, usually within the next block.
Currently, a minimum tx fee of 0.00001 BTC will ensure that your transaction will confirm within the next couple of hours, probably sooner, usually within the next block.
In as much as the purpose of money is to provide a system whereby resources are allocated "efficiently" to areas of most need, i.e. those who value them highest and will pay most for them, the limited resource of space in a block is allocated first to those most willing to pay for it.
If you were expecting bitcoin to be anti-capitalist, well, sorry about your luck.
If you were expecting bitcoin to be anti-capitalist, well, sorry about your luck.
Bitcoin is a free market decentralized currency that allows to have a non government manipulated mean of exchange that has intrinsic value
In as much as the purpose of money is to provide a system whereby resources are allocated "efficiently" to areas of most need, i.e. those who value them highest and will pay most for them, the limited resource of space in a block is allocated first to those most willing to pay for it.
If you were expecting bitcoin to be anti-capitalist, well, sorry about your luck.
If you were expecting bitcoin to be anti-capitalist, well, sorry about your luck.
We are FORCED to pay a tax upon every transaction, and they say Bitcoin doesn't have any taxes? That's just pure crap. Taxation is unconstitutional theft via armed extortion. In Bitcoin's case, it's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY).
You are not forced to do anything, or you don't understand how it works. Fees are so that transactions are completed faster and once all the coins are mined there is some incentive for people to keep mining. It's terrible, I had to shell out half a cent or so to have a few hundred dollars' value transfered half way round the world in less than a second.
Half a cent to have a secured non reversible transaction in a commodity that cannot be inflated to death and is likely to raise in value. Also, you avoid a third party risk if you store it yourself.
You don't have to pay the transaction fee, but be prepared to wait a long time for your transactions to confirm.
It depends on your definition of a "long time". Even transactions that will eventually confirm without a fee will do so within ~18 hours or so. If you compare this to how long it takes for a check to 'clear' the banking system this is still very quick 
It's terrible, I had to shell out half a cent or so to have a few hundred dollars' value transfered half way round the world in less than a second.
You don't have to pay the transaction fee, but be prepared to wait a long time for your transactions to confirm.
It's not worth it to send transactions without fee as it may take days before it confirms.
At this point 0.0001BTC is only 4 cent. Don't waste days just to save yourself a few cent.
You don't have to pay the transaction fee, but be prepared to wait a long time for your transactions to confirm.
You are NOT forced to pay, and if no one paid, Bitcoin would be dead because miners need incentive. Do you want that?
If I set 0 tx fee in /settings and try to send a transaction it will tell me that the amount I want to send is X + Y of transaction fees. "Do you want to Send? Yes/Cancel" So yes it is optional in a way that if I change my mind about sending the coins and then I don't pay the tx fee. This is in qt core. Previous versions simply asked "This transaction is over the size limit, do you want to include XY amount of transaction fees to be processed faster?" and there you could say no I'm fine with a slower transaction. I don't think newer clients do it like this.
You are NOT forced to pay, and if no one paid, Bitcoin would be dead because miners need incentive. Do you want that?
Right now miners have a big enough incentive with the mining reward, fees are here for long term considerations and to organize the network
100% agree.
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