why dont miners just take 50% as fee?

olubams

hero member

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Quote from: treer123 on January 01, 2018, 06:16:29 PM

why they charge 50$ on 125$ worth of bitcoin

and 50$ charge on 20,000$ worth of bitcoin

is because rich look after the rich, always have always will

The matter is that will you be willing to pay that much for fees. Its really not fair to pay the same amount as fee irrespective of what you are transferring because I have noticed that the complain about the high fees is not about people transferring high amount worth of Btc but for the individuals transferring the lower amount. My suggestion would be that there should be a certain percentage fixed on any amount to be transferred with that, everyone would know before hand the amount of fees I will for carrying out this particular transaction.

pawanjain

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Nothing lasts forever

Every transaction has a fee which has to be paid to the miner for processing the transactions. It is the user who decides what the transaction fee should be. The miner decides which transaction should be processed first. So they generally process a transaction with higher fees first and the people then wants their transaction to be completed first and so they pay higher fees than others. This is how the transaction fee increases day by day and the transactions pile up one upon the other.

pooya87

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this is not called dollartalk.org and you are not paying fees in dollar so why are you reporting fees in $?
in bitcoin you are paying for the space, so either start reporting fees in form of Satoshi/Byte (amount per space) or your numbers are 100% meaningless.

and regarding fees, miners aren't charging you this high fees. all they may do is some shenanigans like injecting self-main-transactions in blocks they mine to intensify the issues. otherwise it is the users outbidding each other and increasing the fees like this in order to get into that scarce block space which is smaller than demand.

Foxpup

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Vile Vixen and Miss Bitcointalk 2021-2023

Quote from: treer123 on January 01, 2018, 06:16:29 PM

why they charge 50$ on 125$ worth of bitcoin

and 50$ charge on 20,000$ worth of bitcoin

is because rich look after the rich, always have always will

No, it's because the bandwidth, storage, and processing costs that the miner has to pay (and therefore be reimbursed for) are exactly the same whether the transaction is for $125 or $20,000. Bitcoin is not suitable for microtransactions and was never designed or intented to be.

sjbi

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www.thegeomadao.com

Quote from: treer123 on January 01, 2018, 06:16:29 PM

why they charge 50$ on 125$ worth of bitcoin

and 50$ charge on 20,000$ worth of bitcoin

is because rich look after the rich, always have always will

It may sound ridiculous but it's the traders who offers the fee i.e. the fee is decided by the person who makes the transaction not the miner.

Miner just selects who's job to be taken and they generally select the one with higher reward.

treer123

newbie

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Merit: 2

why they charge 50$ on 125$ worth of bitcoin

and 50$ charge on 20,000$ worth of bitcoin

is because rich look after the rich, always have always will

Topic: why dont miners just take 50% as fee? (Read 200 times)