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Title: How could so high transaction cost could be justified? Post by: szuetam on June 30, 2013, 11:34:37 PM http://blockchain.info/charts/cost-per-transaction
I know why it is so high, but why people should accept payment method with such a high cost of single transaction? Is it temporary? Title: Re: How could so high transaction cost could be justified? Post by: Peter Lambert on June 30, 2013, 11:45:02 PM http://blockchain.info/charts/cost-per-transaction I know why it is so high, but why people should accept payment method with such a high cost of single transaction? Is it temporary? That is just an estimate. Do you have the formula for how it is estimated? Most of the "transaction cost" is the block subsidy, people accept this inflation as part of the system, it is how new coins are added to the system, and it will be lowered dramatically over the next few years as it is halved about every four years. This is a system cost, not really a per transaction cost. It is actually lowered by making more transactions. The actual cost for each transaction is somewhere between 0 and 0.005 USD (many transactions can be sent without a fee attached). And you might want to check the "all time" link at the bottom of the page, we are still much lower than the peak in 2011 of $35 per transaction (it is now about $10 per transaction). |