Bitcoin Forum

as the fees have been marching ever upwards, have you found yourself postponing or putting off transactions completely?

i have a balance with a bunch of inputs that got a little out of control so i've given up thinking of buying anything and am waiting for a reason to swallow the fees. guess my limit's already been reached.

would there be a point where you stopped buying things with bitcoin or would you do it for ideological reasons or because you're already sitting on a huge gain?

i could live with high fees if i felt bitcoin was showing strong signs of being gold 2.0, i'd park them and wait, but i think the market's just the same old bunch of people with no real signs of that on the horizon.

i think many massively overestimate the appetite the majority of users have for the expense and may end up a little surprised when many of them walk away, and even more who were considering it never dip a toe in.

is this a blip while we wait for a second layer, a new reality that most will be ok with or hubris that's gonna fatally bite some asses?

though % has some merit worldwide. and under 1% wold be ideal. bitcoin is  'amount' not % so. thinking of no entry of barrier world wide utility i would have to say:

1cent should be the limit.

third world countries deem 1cent to be atleast 10 minutes minimum wage work.
think of it like living in america, the equivalent of $2.50 as a way to imagine how the third world think about one U.S cent
think of it like living in UK, the equivalent of £1.25 as a way to imagine how the third world think about one U.S cent

5cents is an hours labour in a few countries. imagine it if your american or british as if it was an hours minimum wage labour.

spam should be solved by rejecting transactions of hundreds of sigops to allow thousands of people to transact instead of one transaction.
spam should be solved by using transaction maturity(like block reward coinbase maturity). by making it unspendable for X blocks. so people cant just respend every block
spam should be solved by code.. not economics

"A limit" suggests that all transactions below the so-called limit are discarded by miners. Not true, even 0 fee transactions have been getting confirmed since the recent mempool spike, just in much smaller numbers than previously.


"My limit"? It depends, just like the fees themselves.

Am I making small purchases from a website when I don't care how long it takes? Tiny, below average fees would be acceptable to me.

Am I just about to use a large amount of money to purchase something that represents an asset? Then I'm unlikely to care if the fee is 0.1% or even 1% of the total amount I'm spending, the investment itself should be sufficiently worthwhile that I don't care about the marginal loss.

good point. i've never attempted to send a zero fee transaction but my wallet doesn't allow it anyway.

I am hoping that this not the future (high fees) i cant see there being any appitite for it from the masses, yeah its only 9 pence or what ever but if the general public had to pay that everytime they sent money to someone or paid for a coffee then its going to be a hard sell,  paypal is free for them?  and yes theres the argument that maybe bitcoin isnt the day to day payment method but more of a settlement layer.  who knows time is going to tell.

well, i've always felt the coffee thing is a kind of silly example. even if fees were super low, confirmations take time and who the hell needs a censorless way of paying for coffee?

commerce on the internet is a different matter. anyone should be able to transact where and when they want without needing approval and bitcoin is the perfect fit. if the ability for modestly valued transactions is priced out then the future potential has just stepped down several notches.

forget coffee.. think internationally!!

$2 is a weeks wage in some countries
suggesting 10cents (2 hours labour) is acceptable and a weeks wage is "spam" is the mindset of close minded people.

bitcoin should not be limited to developed countries, but open to any country. where CODE is used to limit spam. not economics
only the bank loving devs believe that economics is the answer. which makes me lose faith in those devs as coders because they are ignoring CODE as the answer to 'spam'

as for anyone thinking segwit is going to offer big discounts your wrong. the fee war over the last 11 months has made the average tx high, that segwits discount is just backdating prices back to last year..
its like going to walmart and seeing the price of some produce double in price just so they can stick a 50% off price ticket on afterwards, even if the discount is the same as before the proposal.

as for anyone thinking LN is going to offer big discounts its not (explained here https://bitcointalk.org/index.php?topic=1686040.msg16925401#msg16925401)

basically proposing $4 (0.0006) PRE-PAY fee just to use it. and it only works out cheap if you do thousands of tx's in the 10day lockin the scenario suggest..
the scenario and price examples are wrote by those coding LN..

the scenario also says
use it only once or twice, your penalised. try to close the channel early to not be penalized, guess what your penalized.

again LN is NOT USING CODE to mitigate error, blackmail or DDoS risks.. it uses economics.. completely ridiculous!!
but hey. when you see how the devs coding these 'features' are paid its becomes obvious why they prefer economics rather than logic/code

Re: low value or IRL transactions

Low value worked OK in the past, but IRL was never a great fit for Bitcoin, the merchant really needed too much faith in the customer. That's where the 2nd layer protocols will come into play, they can be designed to help ameliorate these issues.

At least nowadays don't try to move your bitcoins because the there are lots of unconfirmed transaction so you have to add extra fees in order to get confirmed. The limit as franky said should be 1cent or 10 cent maximum and anything higher than that is not good for user(but good for miners). Since there is no change on block limit the fees will be the same and maybe getting higher.

Qualify this statement, with facts.

Also, what makes you think that $ 0.10 is going to be worth the same amount of Bitcoin forever?
What makes you think that $ 0.10 is going to be worth the same amount of goods forever?
What makes you think that a fixed amount of BTC is going to be worth the same amount forever?


I could go on, but it would help if you could think about even the most immediate/obvious problems before you make posts.

franky1 brings up a good point.
I don't have a problem paying five or ten cents for a transaction, but in some areas, this would be much more money based on living wages.

We need to give miners a reason to process transactions, but keeping fees low will help spread the use of Bitcoin.
I really don't know the right answer.

when the bitcoin valuation reaches a certain average the minimum fee should be dropped
EG
the fee was averaging under 1 cent in 2012.. 0.001 @$6/btc (0.6cent)  (100sat/byte)

then the fee went down to 0.0001 (10sat/byte)
....

soon it should go down to 0.00001 (1sat/byte) so that when the fiat valuation goes above $1k the tx fee is still 'pennies'
then in future it should go down to 0.000001 1sat/10byte so that when the fiat valuation goes above $10k the tx fee is still 'pennies'
then in future it should go down to 0.0000001 1sat/100byte so that when the fiat valuation goes above $100k the tx fee is still 'pennies'
to atleast keep the minimum tx fee in the 'pennies' rate.

we dont need to worry about that now.. thats a thing that can happen naturally over DECADES, when it becomes needed. not a current issue.
at the moment blockreward=income.. fee=bonus... in DECADES it flips to fee=income reward=bonus. and in a century it becomes fee only.
so not an issue.

also more ONCHAIN transactions by scaling ONCHAIN will solve it.
after all do you want 4500 people paying $3 a tx each in 30 years because core kept the base block at 1mb for 30 years.
or have something like many thousands of people paying 3cents max because over 30 years scaling was allowed ONCHAIN

after all we are talking ATLEAST SIXTEEN years to a century in the future before fee's become important. if you go backward 16 years you will see the evolution of technology and know that things can move further in the future. so crying now about 64mb blocks in the future... is like:
at the millenium crying that 1mb is insane and wont be acceptable in 2016..
or back in 1984 crying that 15kb not being acceptable at the millenium.

EG
lets say 2017: 2mb base 4mb weight = 9000tx (yea i know dreaming that core give in to a version of segwit with dynamic baseblock, i know i know)
lets say 2020: 4mb base 8mb weight = 18000tx
before you say it.. calm down.. even in africa vodafone are starting 5G networks so it will be the norm by 2020
before you say it.. calm down.. fibre cables are starting so it will be the norm by 2020
lets say 2024: 8mb base 16mb weight = 36000tx
lets say 2028: 16mb base 32mb weight = 72000tx
lets say 2032: 32mb base 64mb weight = 144000tx

and then take into account a scenario of the block reward
year      BR            Fiat/btc      block reward value
2012      25            $120         $3,000
2013      25            $240         $6,000
2014      25            $400         $10,000
2015      25            $480         $12,000
before you say it.. calm down.. lets say we dont quadruple value in 4 years
2016      12.5         $700         $8,750
before you say it.. calm down.. lets say we dont near double value in 1 years but instead only double every 4 years(safe worse case scenario)
2020      6.25         $1,400      $8,750
2024      3.125         $2,800      $8,750
2028      1.5625      $5,600      $8,750
2032      0.78125      $11,200      $8,750

now we put it together assuming the tx fee stays around 6cents (as a worse case scenario for next 16 years)
year      BR             Fiat/btc     BR value   tx count   txfee      bonus      total(BR+fee)
2020      6.25          $1,400      $8,750      18000      6c         $1080      $9,830
2024      3.125         $2,800      $8,750      36000      6c         $2160      $10,910
2028      1.5625       $5,600      $8,750      72000      6c         $4320      $13,070
2032      0.78125      $11,200   $8,750      144000      6c         $8640      $17,390

or we go with a core doomsday
year      BR            Fiat/btc      BR value   tx count   txfee      bonus      total(BR+fee)
2020      6.25         $1,400      $8,750      4500         24c      $1080      $9,830
2024      3.125         $2,800   $8,750         4500      48c      $2160      $10,910
2028      1.5625      $5,600      $8,750      4500         96c      $4320      $13,070
2032      0.78125      $11,200   $8,750         4500      $1.92      $8640      $17,390

knowing tech wont be a problem in 16 years.
would you think bitcoin is best kept at 1mb base for 16 years costing people $1.92 to use bitcoin. for only 4500tx every ~10 minutes
would you think bitcoin grow ON CHAIN naturally for 16 years costing people $0.06 to use bitcoin. allowing 14400tx every ~10 minutes

obviously who would use bitcoin if limited use and nearly $2 a time..vs less limited use and 6cent a time.

Very true. Even with very low fees, transactions are eventually included in a block. And it doesn't even take as long as a wire transfer.

If people want fast confirmation, they have to pay adequate fees. The constant whining from the cheapskates is quite annoying. Doing transactions with Bitcoin is still dirt cheap considering the service provided. A healthy fee market is needed in Bitcoin's future, as mining rewards are diminishing. Also, adequate fees ensure optimized resource usage, which is a good thing.

The network is just currently being spammed with thousands of ultra low fee transactions. It could be the last desperate effort of the Andresen/Hearn/Ver-clan to obstruct progress in favor of their decentralization destroying power grab. It's a futile attempt. In my opinion, ultra low fee transactions should be directly dropped from the mempool and directly rejected.

ya.ya.yo!

your thinking more like a banker that only lives and thinks about america... try opening your mind to borderless whole world utility

over the next 120 YEARS. not days.


the hearn clan is actually the same as the blockstream clan.. i guess you didnt know that hearn R3.. gmaxwell, wuille blockstream are working together.. that was the ultimate bait and switch.
go look at gmaxwell and wuilles contract and employers. oh look BANKERS
yea even gavin(DCG) and garzik(BLOQ) are now in the banker pockets too... more bait and switching..

so far Ver is the only non-banker-bought independant.
as soon ver trades in his morals.. (hopefully never) and all the 'wallets' are in the pockets of bankers.. bitcoin is no longer independent.
you can stick your head in the sand and defend a banker buy attacking others as a distraction or ignorance of which side your on..

and im starting to think its the bankers (R3,DCG,blockstream) group thats spamming the network to try advertising the need to get everyone to activate segwit. but worded the opposite to blame ver, as the bait and switch to scare people over to segwit.. like a double con that hearn played

economic fee war and fee market are buzz words of the bankers.
CODE should solve the problems not fee's.
fearmongering scenarios of decades-century as the need of economic measures now is a failure to understand logic, code and technology.

not exactly..
i do agree it is "just pay the adequate fee", but this "adequate fee" is increasing fast, the reward will decrease with time and the price will increase(i hope..).
in a few years, could be paying 200k+ satoshis in a transaction and converted to fiat that could mean 5~10 bucks (assuming the price is increasing).

more time, price increase, reward decrease, fee goes up... where does it stop? if i had to pay too much for a transaction, better just forget about bitcoin and go back to FIAT.. use my bank will be cheaper.

and well... if i dont pay the adequate fee, it could take longer than a wire transfer

and now you see the economics problem the bankers of blockstream are pushing for.
their solution is then dual authorisation offchain payments... hmmm... and i wonder who will be running these hubs.

duel authorisation.. hmm thats what banks do.. sounding familiar?

so segwit(wuille) and LN(rustyrussel). are coded by guys that are paid by banks. trying to pull people away from bitcoins immutable and independent blockchain into dual-authorised payment methods with fee's attached........ im surprised im even having to spell it out for people

anyway. back on topic.
fee's need to stay practical at only a few pennies/cents at MOST. to not cause a barrier of entry (world wide).
CODE needs to strengthen the 'spam guards' not fee's
scalability needs to grow naturally and eventually AFTER DECADES of growth cover the mining cost burden, not months

Not really. Recent fees to get into the next block have been 11-12 cents USD based on median transaction size. A few weeks ago, I was paying 7 cents. The price of BTC against USD is also up ~150% year over year. Of course USD-equivalent fees will rise as Bitcoin rises against USD.

But even given that, the cost to users for a confirmation is quite low. Incredibly low, given the security provided. The cost per confirmed transaction to miners is significantly higher (based on IC3's research, something like $1-6). So our confirmations are subsidized pretty heavily by miners' speculation on the future price of Bitcoin.

the block reward is the income.. the fee is the bonus.. the switch over when fee's become important wont be for a few decades.
also research has noted that due to the energy efficiency of ASICS and the average amount of asics used to confirm a block, the block reward alone is making pools PROFIT. not loss. (im guessing IC3 probably used worse case scenario electric and asic costs. not rational values)
in short pools are making a profit, not a loss

so fee's are not a subsidy. again they are categorized right now as a bonus.

lastly. the delays of segwit and the fee war have caused a fee price hike. so the mindset of segwits 'discount' proposals last year would have been 4 cents discounted to 1cent.. but now reality of only 1.8x capacity (not 4x) and todays average fee.. is:
7cents discounted to just shy of 4cents
or your 11cents discounted to just over 6cents. which is not really the proposed and hyped 'discount' price expectation given last year.

with the new 'average fee' rather than reactive fee metrics, the fee will be higher by the time segwit is activated. so in no way, shape, or form can anyone expect to pay under 4 cents even after discount and still gain 'priority' based on a low priority transaction before adding a fee. 

There's no limit when you have to make an transfer, that's the truth and that's why we use banks and others service that meanwhile charge high fees/taxes from us.

I want to see what will happen if we got a mass adoption, will we pay 50% of fee?

Still have yet to completely postpone a transaction, mostly because I don't hesitate to put a $0.10 fee with a transaction, and even then it is rarely that large. I've seen maybe $0.08 be the largest amount of Bitcoin I had as a pre-set transaction fee.

If it goes beyond $0.15 then I think I'll start to wait a bit until I send a transaction. Until then, I'm not really worried.

For a normal transaction most of the other payment solution put 3%+0.25-0.50$ fee just to send fund between two accounts and this fee is really high when you like to withdraw to banks and still bitcoin fee of 0.80$ near could be enough to get confirmation on really high number of inputs and large size transaction. I don't think this fee should be considered really high compared to what other payment methods charge.

Also on top of that we can sleep with peace in mind that our bitcoin wallet will not be 0 or it will be frozen overnight like in skrill and paypal.  ;)

I think most people underestimate the importance of the cost of the transaction fees. You have to remember that these costs are stacking up, as users are moving between third party services. < Which we do not want them to do, but it is done any way > You buy Bitcoin on a regulated exchange, and then you pay their fee, and then you transfer it out to your hardware wallet to keep it safe, and you pay a additional fee.

Then you transfer some bitcoins to someone else's Bitcoin address to use it, and you pay more fees. ^hmmmmm^ We should fight for low fees, otherwise we will have no edge over other payment options, when it comes down to cheap fees.

There is no limit of fees that you'd transact. It depends on how much you transact or transfer to one another by percent. And also because the confirmation is much more if you transact also much. Therefore, the transaction fees is depends on how much would you like to transfer or cash out or ay out by percent.

at some point i always give up spending bitcoin because even if i spend it with the normal fee (the usual amount of fee that i always include 0.0001-0.0002BTC per tx with 2 outputs) the transaction is not going to get confirmed.

besides i believe that the more fees we pay the more greedy the miners get. at this point with $730 price and 12.5BTC reward they are earning a decent amount of money to cover all their costs and make a good profit so any additional+ fees (like paying 0.001 instead) is like bribing them to confirm my transaction.

and website like bitcoinfees.21.co despite being informative are not helping the situation either when they increment the fees in a way that speeds up this fee competition.

I`m holding my bitcoins so i don`t care very much about fees right now.

If i had a real bitcoin business high fees would be  pain in the a$$.

Yes obviously transaction fees will increase because after halving there is just little shift in its price and miners have very little profit so to make enough profit miners should increase the transaction fees this is what we call bitcoin

On my simple bitcoin wallet that I use as BTC pocket money I always use the "economy" fee and my transactions get usually confirmed within the next 6 blocks which is fine by me.
I don't mind much about tx fees: the network gives us a service so they need to get what they deserve.

what you said is true that until you dont give a sufficient transaction fees your transaction will get more delay in getting confirmation as the price rises the transaction fees will also rise as miners also have to maintain their setup according to the cost of expenses

100% right. Today, already bitcoin fees are close or equal to standard bank transfers.
Few days ago I was transferring bigger chunk to my main wallet and that transfer cost me more than
a similar operation via fiat bank account...  :-\  Not a fan of that. Of course I could use the smallest fee available
etc. but I didn't. 1st confirmation time was in fact not so instant. A voice of disapprovement for high fees must be spoken. Otherwise along with prise rise cost of transactions will be unbearable.
Nobody wants to rob miners of their money but if high volume TX is more expensive than greedy banks are...
then I dont know who is more needy here any more. 

I am OK with transaction fees of up to 0.50% of the total amount. And right now, the average tx fee seems to be much lower than that amount. But still, I am worried about the future. Just hoping that the fees will remain stable in the future as well.

0.5% is quite a lot. Although it is still consider little by other payment methods, i am looking a the far future where mbtc or even satoshi can be the norm price of things. By then the fee has to be way lesser.

Yes, There is no Limit fees on every transaction, i think they should put a limit on bitcoins transactions because sometimes users are not aware of the fee.I know that The transaction fee is therefore an incentive on the part of the bitcoin user to make sure that a particular transaction will get included into the next block which is generated but sometimes the fees were too high for the transaction.

I've used 0.001 BTC fees when I wanted to send Bitcoin extra fast, I know that it's a bit over the top, but even such a big amount of fees doesn't deter me from sending Bitcoins.

And as previously said in the thread, even if you send with a low amount of fees (say 0.0001 BTC or less), your transaction will still get confirmed.

I always send my coins with the smallest fee possible. If it were possible, i would send them without any fee.

If this fee thing increases a lot in time, i will definitely dump my position on bitcoin and gtfo. Because it won't make sense to use it anymore.

Yeah most of the time I too go with the transaction fee around the plus or minus range of 0.0001btc. It is enough for the transaction, because once its send automatically the other end gets notified on the insight transaction. This itself gives the confirmation that bitcoin will be received soon. No need to wait for further conformations.

My Electrum wallet suggested me a fees of 0.004 btc for a 0.7 btc transaction but i resorted using the old fee only ( 0.0004 btc). blockchain.info showed it under medium priority and it was finally confirmed after many many hours.

I too think that the txn fees should be lowered till it becomes same as the older ones so that people don't hesitate in sending bitcoins just because of high fees.

Really you would dump bitcoin because of the fees?
I will keep using it.Just alone because of the potential of future growth it is having.
As long as the fees is cheaper than the all the other traditional one I will be happy!
If I send coins worth $10k for a fee of bucks there is no reason in my opinion to complain about.
Bitcoin might evolve to a network for big transactions who knows!And small payments will happen on higher layers or maybe sidechains.

The services i do use has different fees, some charges 10k others does charge 30k as well 50k satoshis as fee, sure if i could choose i would make it 10k at all, i dont see why i should raise the fee since i usually transfer similiar ammounts between the websites. But i know that as bitcoin is getting bigger in size and value the fees looks like will replace the blocks reward, soo its expect to the fees to raise at some point to keep the security.

I think your comparison is right, a fee of 1$ for a 10000$ is not a big deal I think. I think they should implement a fee for the differents level of transfer of value.

Small amount {1-1000} = 0.01%
Medium amount {1000-10000} = 0.02%
Large amount {10000-1000000} = 0.03%

This is only for an example.

It is always a question for what bitcoin are used.
When they are considered to be an investment, the fee usually does not matter. One time bought, one time sold after a long time. That's it.
But when people actually want to use bitcoin as a payment system, the fee will matter a lot.
I personally would not buy something worth 15$ if I had to put one dollar at the top of it just to make the transaction.
Hopefully we will never see that developement.

Yes indeed, and it is common misconception that the higher the amount to be sent, the higher the fees should be.  I think it is 200? or 300 satoshi per byte and from there you man make your computation regardless of amount.

I don't send out too many transactions as I am more saving up everything. But when I do I mostly stick to around 0.0003-0.0005 BTC in fees depending on the priority. I think that's the real max I would pay for a normal transaction that I don't mind waiting some time for. If it has a top urgent priority, then I would probably double the fees.

I don't do many transactions anyway as i don't do any shopping or some other activities online except sending some of my bitcoins to an exchange every month for exchanging them to fiat for which i just pay the minimum required fees and never had a problem with that.

I made transaction yesterday and i think the fee's are relaying in the transaction size i paid $1.01 usd for 0.019 transaction and the transaction size is 1110kb . this is my first time that i pay a large amount of unlike before that i am paying minimum of $0.10 cents my maximum if i really want to increase the priority and speed i am paying almost 0.30 cents..
I send and try manual fee with 10k sat for 0.001 btc 2 days ago and experience of delay i think it takes 2-4 hours before i receive it and notice my electrum has icon in one transaction the sign of caution and said that i paying small fee or lower fee.

A 6% transaction fee (sadly) wouldn't be much higher than a lot of financial payment services.
Hell, people take out payday loans that charge 200-300% interest and are borderline illegal. (Soon to be illegal in California.)

he's talking about buying something. who the hell would pay 6% for the honor of paying for some trinket? for someone who doesn't have bitcoin already the usual expense or premium in buying it makes it pointless enough for commerce. throw in a huge fee and it's even more of a turn off.

it would cost a big fat zero when you use those dirty cards. and in europe card fees are very low for merchants so whatever margin is on top will be small.

You should understand, there isn't an end of this. It will rise and rise, the network always will be busy and flooded and they will use this as an excuse for high fees. 1-5 bucks no big deal for now but when it becomes 10-30$, that will be a deal breaker for many of us.

who would be the users in that scenario? unless it's millionaires moving their gold 2.0 around i don't see where the willingness would come from to swallow that expense. and gold 2.0 requires normal people too, none of whom are gonna be very interested at that level of expense.

My limit of fees is usually about 10 cents max per transaction. but usually i just include around 0.00015 in fees per transaction and this lets my transaction be confirmed in about an hour which works fine for me.

Yeah, it does something right. But the cost usually depends on how big the bytes of the transaction we do, if we do great bytes then the cost for pertransaksi is very large. But it's all just a few small and will not make your transaction is unconfirmed until a couple of days. so it depends how byte transaction we do, if we are obedient then everything will go well

what if i told you:

there was code that stopped people writing messages into the blockchain to help make blocks only contain lean transaction data.
there was code that stopped people respending funds for 1-6 confirms to stop spamming the blockchain with the same funds over and over.
there was code that allowed millions of people to transact ONCHAIN without bottlenecking the network because there were no bottlenecks..
there was code that allowed the ONCHAIN  possible bottlenecking to open wider at a healthy and natural rate over time.
there was a balance that as unbottlenecked demand increases, pushes the bitcoin valuation up so that pools get more fiat for their blockreward.. so that fee's remain just an insignificant 'bonus' for all of the next 120 years

in short
what if code solved all the things that 'fee's were introduced to prevent' so that over 120 years (not days or weeks) the fee did not have
to rise sharply.

now with that in mind.
what would you consider as a happy worldwide no barrier of entry acceptable fee price?

If the fee crosses over %5,I am going to quit using bitcoin for most of my transactions.It is also the fee one has to pay to PayPal so there is no point in paying more though in bitcoin it is much faster but the recipient has to wait not me

Fees are reasonable. They fee the transaction as for their site get some profit like taxes. In other word, it replaces the government or bank taxes. Without fee in transactions, then there would be no confirmations to make. I advice, in making transaction, choose some sites that requiring the lowest minimum fee offer. You can google or look for the forum to seek for that site.

Bitcoin was created to avoid bank taxes and stuffs like that and now we can see a scenario in the future where the fees value can be a problem. That's ironic.


I don't know about the limit, maybe it will be a common sense, people will stop to make transactions if the price goes too high so in that way everything will go be more cheap.

I agree and bitcoin's decentralization feature attracted online sellers for that idea and for security too. If the fees are higher,it became the same as other sites which charges higher fees. I hope this is not the scenario in the future.As of now,fees is still cheaper.

Honestly the fee should in now way be higher than most of payment processors like paypal, skrill etc charge and the miners should themselves not allow it become an issue. They should charge nominal fee and confirm the transactions quickly. Fees shouldn't stop people from frequently using bitcoin and it shouldn't be a hurdle in the way of new people embracing this digital currency. I don't suggest the percentage but sometimes I also avoid using bitcoins frequently because of the fee

(Fee: $ 36.72 - Size: 1995 bytes) 2016-11-26 04:03:49

https://blockchain.info/address/1KE77nAehc8G7a4HAUUsVxXRYSiK9qAuW4

did someone pay 37$ fee to move 7$ worth of coins off his wallet?

Your hopes will be broken for sure because transaction fees would surely rise up on the long run because of bitcoins adoption so this means miners will surely put up some price on every transaction because they are making money with it. At first this is why i love bitcoin because of its low fees but considering they will increase i dont think it will hurt because its only a small amounts.

Recently, I've transacted an amount which I gave lower transaction fee and it was only confirmed yesterday. My transaction was 5 days ago. So what i'm trying to say is i'm fine with it having lower fees and be confirmed after a few days as long as it's not in a rush. Of course there are some cases that needs to be confirmed ASAP, better pay higher fees.

PS. Compared to the transaction fees through banks or money sending businesses, I would still prefer the bitcoin fees.

Very good points brought up and I have always completely been on board by attempting to put a closer margin on true value as opposed to cost.

In east africa and India for example, people can still send amounts as small as 5 cents instantly to each other for no fees using sms systems. compare that to sending the equivalent 13000 satoshi for a fee that takes at least minutes to confirm.

And if a vendor were to receive hundreds of 10k satoshi inputs... how is he ever going to offload it with potentially crippling fees?

I always with the exception of 2 transactions use the smallest fee allowed by my wallet (electrum) and now am moving my dust to site wallets that have no fee. It really makes a difference I find.

the last transaction i made this day is sending the amount of 0.002 into my friends and i've see that the fee is about 0.00022 btc, i think its not a big satoshi depend on the amount we've send and its still in under than 0.001 btc for the fee. so i think its not problem for me because in the market exchange, i see that there are exchanger that applying the fee is something like 0.0005 btc itself when we need to send the amount of bitcoin and its makes me to think twice before i want to send into other wallet.