Topic: What is your ideal transaction fee for Bitcoin transactions? - page 4. (Read 1434 times)

My idea transaction fee should not exceed 1% of the total amount. If bitcoin can be nicer for investors than bank transfers,then it fees should be lower

Current fee structure suits me extremely well. I don't mind having to pay more based on how congested the network is, and how much priority I think my transaction has. I don't always need first or second block confirmations.

As long as there is no spam attack, the prices for transaction fees are quite reasonable most of the times. During peak usage you just need to be okay with higher fees. No need to complain or anything.

The highest fee I paid during the massive spam attack last year was like $30, but it was well worth it since it was a transaction to an exchange to cash out. With a looming massive correction every minute counts.

I prefer to pay for the transaction size - that's how the system was designed and we should not change it even though it might be confusing for people who have been using the banking system for their whole life. I'm fine with paying 0.01 for a transaction. It's not very expensive and you can also use Lightning Network which is even cheaper.

Bitcoin is the best crypto system based on this it has also transaction fees which is for miners because they spend a lots of money for mine this coin so they also deserve for this charge also for few years the price of fees are rising and some btc wallet give this facilities to set your fees manually.   

People won't think of choosing any fee if they are asked about it , also I think the idea of 1% of total Bitcoins they are transferring is quite right. Because sometimes the transaction fee covers the amount people earn. ( Have happened with my first payment ) the hardest part of the whole thing is not switching to some other cryptocurrency.
The fact that no matter what you have to pay a certain amount makes it unaccessible to the people who earn less where as this is a downfall that we need to take care of.

This would mean insanely long confirmation times in the long run. Imagine that Bitcoin changed its consensus rules to the ones you propose - universal 0.5% fee. Now, in the current system called "fee market" when block space becomes more needed, users are able to just bid higher in order to guarantee their transaction getting included in the next block. At the beginning of this year it has caused fees to get to as high as $50, which sounds horrible, but for people who are transacting five figures worth of coins it's quite acceptable. But in a system you propose, confirmation times would depend on randomness, since for miners all transactions would be the same. So, your transaction can be confirmed anytime between a few minutes and a few months, which would make Bitcoin unusable for most purposes.

By the way, most of these proposed systems can't work for as long as miners are able to manually decide what transactions to include in the blocks. This is because you can always contact miners directly and ask them to "push" your transaction for a reward, maybe in fiat or some altcoin. So, all these ideas with flat fees and new protocol rules would fail, because fee market would still exist, just in another form.

Bitcoin transaction fees have been constantly rising for more than a year. With the proper and rightknowledge you can make sure your important transactions. What percentage of your total transaction, would tell your transaction fees.

Hi there Kprawn! Nice idea. I think most of the people will prefer the tax system. It is there is an option to pay little or no transaction fee. That could be good. I will just spread my bitcoins in several wallets so that the system could not determine that I have a lot of bitcoin rather it will determine that I am a poor man with just a small amount of savings. That system could even be applicable to merchants because they could accept small payments from multiple sources until the whole amount is reached

Without right knowledge you can't make your transaction properly. Sometimes transaction is stuck that means others paying a higher fee and what you paid is too low and your transaction isn't included in blocks. High fees and low fees it varies country to country based on their currency strength. 10 cent should be the ideal transaction fees.

I think if transaction fees are decreased than bitcoin trade will more occur. So i like to see transaction fees are 4%.this amount is justify for this.

If you give us the freedom to choose the transaction fees we will certainly choose the minimum one undoubtedly. But the amount should be opltimal so that every one is benefited. And according to me an amount like 0.07% or if possible even lower than this will be suitable as fees.

the best thing would be a fee formulae

whereby your penalised for
wanting to spend funds as soon as received.
and
wanting the funds to be confirmed quickly when respent

firstly it uses the age of the coins to be spent

if coin-age under 144 confirms.
144sat minus coin-age
so if the coin you are spending is
only 1 confirm. you pay 143sat/b..
if the coin is 10 confirms(~hour and 40minutes old) you pay 133sat/b
if the coin is 144+ confirms(a day+ old) you pay 1sat/b
(worked out by the protocol, no user decision required)

secondly the user decides how desparate their next spend needs to be confirmed
starting at 1 sat if a person doesnt care when during the day it gets confirmed. but then goes upto 144 sat if they want it in the next block.

thus if they receive a tx with 1 confirm and they want to instantly spend it in the next block it can cost them upto 288sat/b, where as if they have funds older then 1 day and they dont care if it takes a day to confirm, they only pay 2sat/b

If price will be low then transaction on time. Price will be increase then exchange. So wait for the price increase.  Then sell it. It good for the future saving. So it any time to change the price. Trading is help to transaction. So try to trading process. It connect the all country people. So it any where to exchange. Then avoid the transaction fee. But time is important of the trading process. So time to complete the trading process.
It good for the people exchange the all coin. 

I would love it to be free but of course it is impossible because of the miners fee.
But I would consider any fee that is lower than what I am paying for at money transfer company. I.e. Western Union

I am always trying to compare it there. Recently I paid $6 fee for a $400 transaction. That is way high. Imagine how much this companies are making profit out of all the people who transfers money.
Compared to 4k sats that I paid for a .035 transaction. That is way too low. I just hope someday the people that I will be sending money will have bitcoin.

I prefer low fees even with high amount of transactions.

That's not true.
1$ is way too much considering the fact that miners already get the block reward,fees should be way cheaper.Furthermore,not even centralized services like Paypal charge 1$ (for small transactions) and I don't see how traders will benefit from fees being 1$.

The ideal transaction should be 0.5% of the total assets. But it should not depend on the amount of assets. It should be fixed.

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Looks like a solid sollution...

I would like to pay a standard fee of $0.02 cents per transaction. This should not be a game changer in any currency in the world, no matter how weak or strong your currency is. This will also be less than any fee that any of these remittance services are charging at the moment. 

If you want faster confirmation, then you can pay US $1.00 per transaction.

I believe that high transaction fee lead to high speed of transaction and vice versa. When you take the lower fee, it cost you a lot of time and time is money, so... In recent year, the fee has been increased gradually, the transaction fee  should be based on the the number of BTC that you transfer, to be the reasonable is around 0,1%.

The transaction are to be set in such a way that the miners get satisfied with their profit. However, i don't want to make it too high neither too low. 12 cents per transaction is fine to me.