Bitcoin Forum

So 5 cents in cost to transfer 100$ worldwide and the transaction was directly in the next block...

Thank you Satoshi, it works perfectly! And it's awesome!! Biggest revolution since fire !?!

P.s it's 0.05% of cost and this fee contributes to run and pay for the network and secures it (holistically).

I <3 BTC

 :D

Well this is wonderful thing ,this is the way to saving our money with high secured.Its really revolution in currency world. 

Beats Western Union, doesn't it?

Well, that's what you get in Bitcoin. Either you get very minimal transaction fee or no transaction fee at all. If you're going to send money abroad, the best way to do so is via Bitcoin. Your distance to the receiver is irrelevant in the fees of Bitcoin.

The more wonder here would be if you will be transacting 10x more amount, still you need not to pay 10x fees, give that at a single transaction and input bitcoins are from maximum 2 or 3 bitcoin addresses (and transactions). In that case fee goes down to 0.025%, yes literally no fees for the amount $1000.

I think with out transaction fee if you are going to send then that transaction wont get confirmation soon or mostly it will get rejected, you have to pay atleast some fees to get the transaction confirmed as the miners also need some revenue to run the block.

It is true that the main reason of Bitcoin being so popular because of low transaction fee and lighting fast of transaction to any other account in the world. and that too you dont have to give any information about the sender

Not just WU, almost every banks and the many hassles like visiting bank or within bank hours and many more got beaten.
In my country, bank to bank transfer that too within country, we need to pay up to $0.5 flat, ten times more fee for a demotic transfer. They really suck people money.

Whoa! This is kewl!

Using the same methodology, you can send 5 cents to someone, anywhere in the world, for only a 100% fee... AND, Bitcoin is a monopoly, so there is absolutely no way you could do the same thing with any number of competitors in the cryptographic value transfer game for anything less. Mewn sewn babi!

 Western Union is very expensive in fees, and too many scammers are there. Nigerian scammers use WU, and easily laundry money

Congrats about that.If you had to use paypal to transfer money the fee would be 2$.

That`s why i use bitcoin.

Hope that the transaction fees won`t increase.

Bitcoin is even more useful for the transfer of small amounts of money due to the bitcoin not working on a flat fee plus percentage model.
 Paypal charge around $0.30 per transaction plus 2.9%. That means for a $100 transfer you're paying around $3.20, but to receive 100 $1 transactions you're paying $33.90.

You could have sent millions of dollars worth of bitcoins and so long as the transaction didn't have a heap of little inputs to spend it would still cost you about $0.05

it is an great news , very less transaction fee for big amount transaction , looks good and give can save lot money if it is 0.05 percentage transaction fee, but many sites transaction amount is minimum 20000 or 30000 sathosis , transaction fee needs to be minimized so that we can more profit.

But your priority will be in the low priority because The fees it's about your amount maybe if sending a million dollar i think you will get fees in 0.01-0.1 and that's in the normal priority.

so the other day i send also $100 via bank wire. yes, i had to wait 2 days but on the other hand i cost me nothing. so which is better? pay no fee and wait a bit or get it right away and pay for it?

If the fee is just peanuts like is the case with Bitcoin, then I at all times will choose for Bitcoin. But this of course also depends on whether or not the person or company in question accepts Bitcoin.

well peanuts is always a relative thing. bitcoin is worldwide and the fees are everywhere the same. so those peanuts of $0.05 are in the USA not much. that is because in the USA you have an average income of $151 per day. but what about Congo (DRC)? there you have an average income of $1.12 per day. still peanuts? and Congo is not even the lowest one on the list.
 

That is the beauty of bitcoin.
Low fee and the possibility to transfer money to anywhere in the world and make payments.
Beats western union by far.  One of the reasons why I am here.
You only have to pay attention that you transfer the coins to the correct wallet, because when your coins are gone, they are gone.
That's another thing I am a fan of: you have the full responsibility over your money. If you make a mistake you have to deal with the consequences.

If you had sent same amount of money by PayPal,you had to pay $5 and not all countries are supported.This is the beauty of bitcoin, low fee and truly global currency

What are you on about, the transaction fee has always been related to the size of the transaction not the amount of bitcoin being transacted.

Have a read of this: https://en.bitcoin.it/wiki/Transaction_fees

Perfect, yeah i find that it is really cheap to transfer and as long as the person on the other end can either use it or exchange easily for their local currency then happy days.

That's one of the best features of Bitcoin which is on money transfers, as others said it's much more better compared to wu and other money transfers out there which usually charge you on transaction fee which is somewhat a burden for us especially if we regularly sending money to our love ones.

I cannot disagree anymore since this is one of the features I like compared to other online payment systems. Furthermore it is also fat and secure. Reliable also after the transaction ID is given, you can check on the blockchain if how many confirmations is left.