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Title: why bitcoin wallet takes transaction charge.? Post by: ad2046 on November 15, 2015, 01:38:25 PM i want to know why we r needed to pay transaction charges.
where does this tax goes and for what it is used.? Title: Re: why bitcoin wallet takes transaction charge.? Post by: winspiral on November 15, 2015, 01:39:38 PM take Xapo wallet
then it is transaction fees free. Title: Re: why bitcoin wallet takes transaction charge.? Post by: onemorexmr on November 15, 2015, 01:39:58 PM i want to know why we r needed to pay transaction charges. where does this tax goes and for what it is used.? miners get them to incentive them to put your tx in a block. and its to prevent tx spam Title: Re: why bitcoin wallet takes transaction charge.? Post by: ranochigo on November 15, 2015, 01:41:37 PM Transaction fees are optional for transactions. These goes to the miners which includes them into a block and thus recording it as a ledger. This works both as a way to counter transaction spams and to give an incentive for miners to mine. Transaction spam can be a prominent issue and transaction fees works as a way for miners to select transactions by proritizing them by the order of fees paid. This makes network spam operations more expensive. Mining reward drops from 50 Bitcoins, halving every 4 years and around 2140, the block reward would pretty much be gone. Transaction fees would be the only incentive then.
Some wallets like multibit hd takes additional fees for their development costs. |