Topic: Transaction fees are a tax on BTC - page 7. (Read 628 times)
You can't compare miner fees to tax, it's a whole different thing. Tax is going to government to provide infrastructure and much more for it's citizens, miners don't do one of these things with the money they get from transactions. Also assuming that everyone complains and don't want to pay tax is subjective, same thing applies for miner fees. I am personally not against paying fees to miners, otherwise the whole system wouldn't work. No miners means no proof-of-work, means no blockchain.
That's how a community works, or organization, even a single application needed to have a financial support to maintain their service and pay staff for making report, electricity bill and many more, there is no service like totally and completely free and their service is awesome.
Expect service fee for everything...
Expect service fee for everything...
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 am not sure how truthful this one is. But I dont like the idea of thinking that those fees are really taxes for the BTC. I mean just take the real life example when, we transact through our banks we dont pay tax on each transaction but it summed up at the financial year end when we provide the details for every outgoing and incoming transaction processed through our banks.
The fees is more or less used for the miners efforts, for doing the job and its more or less salary of the miner. Tax is taken for those bodies who ideally will control the miners as well as peers. So its just fees, a way of rewarding the miner.
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 am not sure how truthful this one is. But I dont like the idea of thinking that those fees are really taxes for the BTC. I mean just take the real life example when, we transact through our banks we dont pay tax on each transaction but it summed up at the financial year end when we provide the details for every outgoing and incoming transaction processed through our banks.
The fees is more or less used for the miners efforts, for doing the job and its more or less salary of the miner. Tax is taken for those bodies who ideally will control the miners as well as peers. So its just fees, a way of rewarding the miner.
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.
Nothing in this world is available for free. We may call the transaction fee as service charge because the miners are the one who is performing the transactions for us.But actually the fee are too cheap now since there is no traffic in the blockchain network.
If you don't want the transaction fee to go up switch to the segwit address since the transaction will takes place much faster in the legacy.If everyine adopts to the segwit then the fee will never climb up like what happened at the end of 2017.
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 wouldnt agree, fees are not like taxes, and fees are not a tax on transactions.
We need computing power to complete our transactions, and those transactions
are grouped into a BLOCK. The miners provide a service to process those blocks
and without them its not going to happen.
Now, this thread could open a debate on "mining" and the seemingly centralised
form it has taken and the actual costs per transaction.
But in the end, there has to be miners and they aint going to process our
transactions for free.
But there is a big difference. Miners deserve that fee. But governments wants taxes for nothing.
Yes I agree, tax and fee are two complete different things. Fee you pay when you transact, tax you pay only when you have a gain.
Yes, No one likes to pay it. But there is a big difference. Miners deserve that fee. They confirm transactions and we should pay them. But governments want taxes for nothing. They use their power.
Transaction fees may be a form of tax but it is worth paying it. miners can't validate our transactions for nothing. while it may be considered a tax, it is also someone else's job. the whole of the bitcoin and cryptocurrency space has to have different niche for balance and stability purposes.
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 agree with you, so when we are couldn't want to pay the fees just because they go up. I think that it is the best time to see anothet coin with a low cost of txn fees, such as Doge Coin.
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.
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