Topic: Transaction fees are a tax on BTC - page 5. (Read 622 times)
TX fees are TX fees, Taxes are Taxes - they re different. And Israel is planning a 42% tax on Bitcoiners https://www.bitcoinmarketinsider.com/bitcoin-is-property-israel-tax-authority/
Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.
I do not have much problem with transaction fees as they go to miners. But the issue of slow transactions is a headache for me.
Well, everything in the world has to be paid. For fast, secure and anonymous payments using Bitcoin too. Thanks to the transaction fees, the network exists.
Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.
I think it is impossible to charge a tax on BTC. Because BTC exists around the world, but the trading floors are of a nation. and the trader on the floor is unknown origin. Therefore, the collection of BTCs based on transaction costs is inaccurate. I think each government must take measures about the country's bitcoin trading activities. Well, taxes are raised by governmental organizations. I do not consider the miners to be that.
I see the transactions fees as what they are: fees. Money I give to the miners in order that they do something for me.
I even can say how much I want to give them, and depending on that amount they execute my order sooner or later.
When I look at taxes, I can not choose how much I want to give. There I have to give the amount that is asked.
I see the transactions fees as what they are: fees. Money I give to the miners in order that they do something for me.
I even can say how much I want to give them, and depending on that amount they execute my order sooner or later.
When I look at taxes, I can not choose how much I want to give. There I have to give the amount that is asked.
at least taxes are determined fairly. Fees are not.
Well, taxes are raised by governmental organizations. I do not consider the miners to be that.
I see the transactions fees as what they are: fees. Money I give to the miners in order that they do something for me.
I even can say how much I want to give them, and depending on that amount they execute my order sooner or later.
When I look at taxes, I can not choose how much I want to give. There I have to give the amount that is asked.
I see the transactions fees as what they are: fees. Money I give to the miners in order that they do something for me.
I even can say how much I want to give them, and depending on that amount they execute my order sooner or later.
When I look at taxes, I can not choose how much I want to give. There I have to give the amount that is asked.
Transaction fee on bitcoin transaction is negligible it is too low yea in previous time there were issue came on transaction fee and speed due to network overloaded problems but that issue was solved and now everything is working OK. Fee on transaction of bitcoin as compare to bitcoin price is too low and transaction is also very fast.
Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.
Yes, I agree
but no problem with his fee if the transaction process is fast. this is the obstacle at this time.
so I prefer to interact with altcoin to make it easier
OP here. But what you all have described IS a tax. Tax is taking money from one thing to pay for another thing. We pay a % of our income and it goers to fund schools and hospitals. As Btc is anonymous, it doesn't go through any governments but it goes via the blockchain itself. The fees pay for the miners. No different to VAT.
Transaction fees make a blockchain to work. The required fee in bitcoin is not a tax in the government but a payment to the bitcoin miners. Without fees you cannot transac in bitcoin so, fees and tax is different.
Yes, the fees are comparatively high pertaining btc transaction.Since, then many people also hesitate to get some transactions done but still they hesitate because of the growing fees day by day.I agree the miners confirm the transactions and its their fees , for a common man like me the fees is damn high, fees has to be negotiated well and then finalized to get more transactions done in the pipleline. Once fees are reduced, people will get the comfort zone and enable them do more transactions.
When you go and buy yourself an ice cream do you consider paying the ice cream guy same as paying tax? There may be some tax in that money, but the rest of it goes to the ice cream guy's pocket. How come you don't see the same with miners? Do you expect them to work for free?
This is how Blockchain works. Without transaction fees there will be no miners and no Blockchain.
Paying fees to miners is acceptable for me, they deserve it. I am also taking into account that high price of coin means high transaction fees.
Paying fees to miners is acceptable for me, they deserve it. I am also taking into account that high price of coin means high transaction fees.
yes the fee was high but you earn higher so what is wrong with that dont be too selfish.
true fact but sometime people ignore about this, they only think the fee is really high in value but actually it is same. bitcoin price which make it looks high. and actually people have more money than before 
Payment transaction of fees on bitcoin is expensive and it is not good for a little amount of transaction in bitcoin, but doesn't mean it is like taxes on the government, it is something different. Huge transaction fees on bitcoin is big problem on bitcoin, that is why the community are looking for the solutions with the hard fork of bitcoin's network and right now the lightning network on bitcoin. We hope this problem can be fixed soon.
It is a fee but not a tax. It would be a tax if governmental institution provide mining power. Then the fees could be seen as taxes on monetary transactions.
That is why it's pretty unique to see people holding Bitcoins because they don't have to pay any taxes on it.
really, many complain about the fee to be paid greater than the nominal sent. but if it's okay I hope the current fee can be further reduced. I think the current fee is very much too big. especially for me who make small transactions every day.
Frankly speaking, I don’t think everyone don’t want to pay transaction fees. It is reasonable to pay for fees when miners invest their equipments and resources to mine and get the blockchain moving.
I agree this is why it isn't a tax but more of a service.Altough the price is to high imo , that isn't the fault of the miners.
Frankly speaking, I don’t think everyone don’t want to pay transaction fees. It is reasonable to pay for fees when miners invest their equipments and resources to mine and get the blockchain moving.
Taxes, like death, are inevitable. When they go up, people complain. Txn fees are a form of tax on BTC that goes to the miners. No-one wants to pay them but they have to.
Well, what is supposed to be done to encourage mining in the future then? If there's nothing major being rewarded by blocks for mining pools (like what will happen in about 20 years) how are you going to keep miners going and make sure the network doesn't stop moving? There needs to be an additional incentive and the fees are that. It's essentially a future-proof for the network.Would people on here really fork to get a fee sometime in the future once the block rewards start becoming too small? I can't think of anyone who would want to spend more money willingly, so you need to introduce it early on.
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