Bitcoin Forum

Has anybody considered what the Bitcoin users want for transaction fees for their transactions? Yes, we can set the transaction

fees for our transactions in some wallets, but if you were given one set percentage of what you want to pay for transactions,

what would you choose? Let's say, this is based on the amount of bitcoins you are sending and not the transaction packet

size.  ::)

In the tax system, people with more money pay higher taxes and people with less money pay little or no taxes, so it would

make sense to apply this to Bitcoin too. {I am just playing Devils Advocate, because I know people will split tx's if this was

done.} Let's say they increase the amount, if it comes from the same Bitcoin address.... forcing people to use new Bitcoin

addresses and increasing pseudo anonymity.  :P

What percentage of your total transaction, would you be willing to pay for transaction fees, if this was done? {We might see

this with the future Bank Coins, because they like to do that.}  :D

high fee / fast transaction
low fee/ slow transaction

Think outside of the box for this for a moment.  ;) The Lightning Network is going to revolutionize the fees that are going to

be paid, because most micro transactions are going to be done off-chain in any way, so this whole discussion will be null and

void when this happens. We will still pay on-chain transactions to settle the balance when we close the channels and this is

where this might be applicable. Remember, transaction fees are still very important.... because it has to sustain the miners

when the miner rewards are gone. {They will only mine for the miners fees, when this is done}

high fees and low fees will differ from country to country... based on the strength of their currency. 1 US Dollar might be

nothing for the average American... but it is a lot for the average Zimbabwean.  ;)

It shouldn't be based on a percentage of the transaction amount but a fixed value or something that the majority of the community members would agree on. The transaction fees should also be enough to be profitable for miners. And if you ask me then 10 cents should be the ideal transaction fees.

The ideal transaction fee for bitcoin transaction will be a fiat fee of $1 or 0.05%, which ever is smaller. So it really encourage large and small volume of trading.

The fees are now per trade on the average in the range of $ 0.20 to $ 1.00 per transaction you represent .... 83 cents per transaction on average ...
You say: "Is it too expensive?"For whom it is expensive, but for whom it is normal,it all depends on what you're using Bitcoin for.If you use Bitcoin to move "normal" (impressive) amounts of money, then the board seems almost miserable.

i don't think about fees anymore. if he wanna take 50 dolar for my transactions, he can take, i don't care :D

Maybe 0.1% would be reasonable to send funds, but then I don't think you should be punished for sending more. There should be 0.1% charge with a cap up to $25-50 dollars or something.

i believe ideal transaction fee for bitcoin transaction should be $1. it will be much more helpful for traders in my eyes. though people has different opinion.

I think it should be based on the whole number of transactions. And I don't think it should be above a limit percentage plus I think that the percentage must grow in a logarithmic way based on the value of transaction.

If Bitcoin were to be used as a global payment system, a 10 cent fee for every transaction would not be good. I'd argue the ideal fee would needs to around be .01 cent to .05 cents. Now of course this is on the base layer. The lightning network would solve any fee issue.

Yes, this fee issue need to be addressed rather than left as the elephant in the room.
Me, personally think $0.6-$1 is fair for normal network congestion, raising up to 100% for high traffic still acceptable.

obviously nothing or zero. i am surprised nobody has said this yet. people don't like or want to pay fees and if you let them they will choose the lowest fee possible specially when you are talking about bitcoin where a fee you pay can be worth a lot in a couple of years, for example at some point bitcoin fees were something like 0.01 or 0.001BTC if i can recall correctly.


here comes the spam attack :D
dust threshold is somewhere around 5000 satoshi. you can make a transaction with 100 inputs and 100 outputs (lets use multisig for bigger size) and get a 42610 bytes transaction. 100*5000 sat = 500,000 lets say fee is 0.1% => you pay 500 satoshi fee to fill the blocks with 42.6 kB transactions.

The fee will be as high as people are willing to pay, and as low as miners are willing to accept. That's how a market works. But the ideal fee must be high enough to ensure the security of the system.

This question is way too hypothetical, as fee market is one of the important parts of Bitcoin protocol. The reason why we have fees in the first place is because block space is limited, in fact it's extremely limited, and fees represent the price of that space. If you'd try to install some socialist-style fees that take into account the transacted amount, miners will have zero reason to include small transactions, they will keep including highest fee transactions as usual, so nothing will change, maybe aside from tx fee increasing for the rich. If you'd try to make some rule that miners have to include some amount of smaller transactions, it will be just a random lottery, which will be quite frustrating for users. They'll have to wait for weeks or months to get their small transaction get included randomly.

Lightning Network is the most optimal solution for transaction fees, there's no point in trying to invent some rules, the best way to improve something is to make its technology better.

In real life we do many transactions and if we transacted lots of money then we have to pay more vat also if we transacted less amount of money then we have to pay less amount of money based on this bitcoin has also this types of system and you can set and do transaction with fees this way if you do big transaction the price will be high and if you do little price will be low.

Here in EU, standard fee for SEPA bank transfer is around $0.40 so I would like to see BTC transaction fee lower than that. With Lightening Network it is possible.
However if this would mean that mining is not profitable anymore and common people stop mining and the entire hashing power is in control of few big mining farms in China, then I prefer bigger tx fees because no one wants too centralized hashing power - it would become vulnerable for attacks.

Fee should be like exponential increasing/decreasing with transaction amount. same fee for any type of transaction is not expected.

For me if the transaction fee of bitcoin below or equal $1, it is okay. But above than that, i think it should be not effective anymore.
because there are many altcoins have transaction fee below $1. I just using that altcoins to avoid high fee in bitcoin.

The transaction are to be set in such a way that the miners get satisfied with their profit. However, i don't want to make it too high neither too low. 12 cents per transaction is fine to me.

I believe that high transaction fee lead to high speed of transaction and vice versa. When you take the lower fee, it cost you a lot of time and time is money, so... In recent year, the fee has been increased gradually, the transaction fee  should be based on the the number of BTC that you transfer, to be the reasonable is around 0,1%.

I would like to pay a standard fee of $0.02 cents per transaction. This should not be a game changer in any currency in the world, no matter how weak or strong your currency is. This will also be less than any fee that any of these remittance services are charging at the moment.  ;) <They charge the fee, based on the amount>

If you want faster confirmation, then you can pay US $1.00 per transaction. <No matter what the amount is>

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Looks like a solid sollution...

The ideal transaction should be 0.5% of the total assets. But it should not depend on the amount of assets. It should be fixed.

That's not true.
1$ is way too much considering the fact that miners already get the block reward,fees should be way cheaper.Furthermore,not even centralized services like Paypal charge 1$ (for small transactions) and I don't see how traders will benefit from fees being 1$.

I would love it to be free but of course it is impossible because of the miners fee.
But I would consider any fee that is lower than what I am paying for at money transfer company. I.e. Western Union

I am always trying to compare it there. Recently I paid $6 fee for a $400 transaction. That is way high. Imagine how much this companies are making profit out of all the people who transfers money.
Compared to 4k sats that I paid for a .035 transaction. That is way too low. I just hope someday the people that I will be sending money will have bitcoin.

I prefer low fees even with high amount of transactions.

If price will be low then transaction on time. Price will be increase then exchange. So wait for the price increase.  Then sell it. It good for the future saving. So it any time to change the price. Trading is help to transaction. So try to trading process. It connect the all country people. So it any where to exchange. Then avoid the transaction fee. But time is important of the trading process. So time to complete the trading process.
It good for the people exchange the all coin. 

the best thing would be a fee formulae

whereby your penalised for
wanting to spend funds as soon as received.
and
wanting the funds to be confirmed quickly when respent

firstly it uses the age of the coins to be spent

if coin-age under 144 confirms.
144sat minus coin-age
so if the coin you are spending is
only 1 confirm. you pay 143sat/b..
if the coin is 10 confirms(~hour and 40minutes old) you pay 133sat/b
if the coin is 144+ confirms(a day+ old) you pay 1sat/b
(worked out by the protocol, no user decision required)

secondly the user decides how desparate their next spend needs to be confirmed
starting at 1 sat if a person doesnt care when during the day it gets confirmed. but then goes upto 144 sat if they want it in the next block.

thus if they receive a tx with 1 confirm and they want to instantly spend it in the next block it can cost them upto 288sat/b, where as if they have funds older then 1 day and they dont care if it takes a day to confirm, they only pay 2sat/b

If you give us the freedom to choose the transaction fees we will certainly choose the minimum one undoubtedly. But the amount should be opltimal so that every one is benefited. And according to me an amount like 0.07% or if possible even lower than this will be suitable as fees.

I think if transaction fees are decreased than bitcoin trade will more occur. So i like to see transaction fees are 4%.this amount is justify for this.

Without right knowledge you can't make your transaction properly. Sometimes transaction is stuck that means others paying a higher fee and what you paid is too low and your transaction isn't included in blocks. High fees and low fees it varies country to country based on their currency strength. 10 cent should be the ideal transaction fees.

Hi there Kprawn! Nice idea. I think most of the people will prefer the tax system. It is there is an option to pay little or no transaction fee. That could be good. I will just spread my bitcoins in several wallets so that the system could not determine that I have a lot of bitcoin rather it will determine that I am a poor man with just a small amount of savings. That system could even be applicable to merchants because they could accept small payments from multiple sources until the whole amount is reached

Bitcoin transaction fees have been constantly rising for more than a year. With the proper and rightknowledge you can make sure your important transactions. What percentage of your total transaction, would tell your transaction fees.

This would mean insanely long confirmation times in the long run. Imagine that Bitcoin changed its consensus rules to the ones you propose - universal 0.5% fee. Now, in the current system called "fee market" when block space becomes more needed, users are able to just bid higher in order to guarantee their transaction getting included in the next block. At the beginning of this year it has caused fees to get to as high as $50, which sounds horrible, but for people who are transacting five figures worth of coins it's quite acceptable. But in a system you propose, confirmation times would depend on randomness, since for miners all transactions would be the same. So, your transaction can be confirmed anytime between a few minutes and a few months, which would make Bitcoin unusable for most purposes.

By the way, most of these proposed systems can't work for as long as miners are able to manually decide what transactions to include in the blocks. This is because you can always contact miners directly and ask them to "push" your transaction for a reward, maybe in fiat or some altcoin. So, all these ideas with flat fees and new protocol rules would fail, because fee market would still exist, just in another form.

People won't think of choosing any fee if they are asked about it , also I think the idea of 1% of total Bitcoins they are transferring is quite right. Because sometimes the transaction fee covers the amount people earn. ( Have happened with my first payment ) the hardest part of the whole thing is not switching to some other cryptocurrency.
The fact that no matter what you have to pay a certain amount makes it unaccessible to the people who earn less where as this is a downfall that we need to take care of.

I prefer to pay for the transaction size - that's how the system was designed and we should not change it even though it might be confusing for people who have been using the banking system for their whole life. I'm fine with paying 0.01 for a transaction. It's not very expensive and you can also use Lightning Network which is even cheaper.

Current fee structure suits me extremely well. I don't mind having to pay more based on how congested the network is, and how much priority I think my transaction has. I don't always need first or second block confirmations.

As long as there is no spam attack, the prices for transaction fees are quite reasonable most of the times. During peak usage you just need to be okay with higher fees. No need to complain or anything.

The highest fee I paid during the massive spam attack last year was like $30, but it was well worth it since it was a transaction to an exchange to cash out. With a looming massive correction every minute counts.

My idea transaction fee should not exceed 1% of the total amount. If bitcoin can be nicer for investors than bank transfers,then it fees should be lower

This is undetermined, as low as possible, but reasonable and profitable for miners.

I do not pay much attention to the transaction fee, which I need it to be its fast transfer time. When you get lower fees, you spend a lot of time and money.

We aim to provide everything needed for cryptographic profit under a single brand, from 0% transaction fees to the cheapest cryptographic service. The next-generation ecosystem based on blockchain technology provides all of the electronic money-related activities from: securing different blockchains through the process of exploiting, trading and storing electronic money, to Make cryptocurrency available on traditional payment methods. Revenue even if they are not involved in our electronic money related activities such as mining and trading. Crypt will become an indispensable ecosystem in the relationship between the blockchain-based decentralized financial system and daily life in the future by gathering the money-mining industry, Multiply and network marketing under the same roof. Looks like a solid sollution ... But it should not depend on the amount of property. I enjoyed it very much but of course it was not possible because of the cost of the miners. I always try to compare it there. That's how high. Compared with the 4k sitting that I paid for a 0.35 transaction. I just hope someday those people that I would not want to send money and will have bitcoin.

I want to pay a fixed amount per transaction and I want it to be no more than 1 cent per transaction. I think it would be perfect

Of course, it should be free. Bitcoin should favor not just the poor but also the poorest of the poor. The fees that you are going to add on their expenses is already a heavy burden for them. If bitcoin can't provide that then it will stay just a speculative asset and another altcoin will take the job.

It depend on what the speed of the transaction. If the speed is high, it require high fee, and slow speed go with low fee. It is just my view.

A one percent fee (1%) on bitcoin transactions would be cool for me as compared to unnecessary commission charged by some local remitting service companies

Most of the community may feel that it should be free for smaller transactions and lightening network may become true but we need to think about miners too, so I say a fixed rate would be good for different slabs of transaction amount.

For me the ideal fee is $ 1, this value can be said to be very small if you send a large amount of bitcoin. Whatever it is, keep using bitcoin as best as possible.

Hello,

Most of the answers could be as low as possible but also need to stay attractive for the miners and the equilibrium of the blockchain. Also need to take in count the other blockchain fees that could be lower and that could attract more people will few cent even for large amounts.

A good balance would be for me around 10 to 15 cts maximum

There is no ideal transaction fees. It is fully dependent on network load. High fees makes transaction very fast and low fees makes transactions slow down or huge time. Around $0.10 - $0.15  can be ideal fees for transactions that can be bearable for everyone.

If we should decide what transaction fee is ideal, I hope that the process time could be the same and avoid heavy traffic. Most of transaction require high fees for faster processing but if you are willing to, you can choose lower but sometimes it cause more delay and lost of it.

Charge based on ability to pay and confirmation time is not dependent on fee, confirmation time should depend on the time and wait on the system.

I know the least is the best price, but do you have high security and security? Or just a little profit before the loss of both our exchange or important transactions only.

I usually prefer transaction fees less than 0.001btc such as 0.0005btc. I believe most exchanges or wallets that charges high fees sometimes end up providing poor service to customers, this is the reality on the ground. I believe fixed transaction which is relatively affordable for all bitcoin holders would be really cool.

Probably I will chose the lowest fee :)
In fact it depends on the amount I will transfer and how fast I need the transaction to be confirmed.
Also, it depends on the network, if it is congested I usually use spend more on fees to guarantee the confirmation of my transaction.

Agreed that the transaction fees depends on the speed of transaction but my point is that why can't we have a set % for transaction fees which will be applicable for every exchanges and they should not fix it by there own.And Why can't we provide same speed of transaction to every transaction just to improve the system.Atleast money which we are giving to other exchanges must be taken to improve speed of in future for same price to everyone.

You are talking about exchanges not the blockchain. Exchanges can determine fees as much as they want. You can also use any exchange you want.
When you are send the coins from your personal address to another address, you can determine the fee.

I think it should not be, as originally intended by Satoshi Nakamoto

As for me, I don't have any ideal transaction fee for every bitcoin transaction. Just what I want is an attractive cost of transaction for every transaction wish to be made

Bitcoin transaction fee shouldn't take majority of your capital but at least 0.1 percent to 0.5 percent is ok for me but paying 1 to 3 percent of fees for bitcoin transaction is not something I will do .

bitcoin transactions, I know, they use fixed prices, but different from what is applied by the market, which uses the percentage of fees as part of their profits. On the other hand, if this is a problem then it's better to use an altcoin that has the cheapest transaction fees like doge or ethereum classic

I think if the blockchain will be improved more then the transactions speed and quality fees will become much affordable, so for now the fees that you have all suggested is recommendable or i would suggest 2% from the total amount  so that the blockchain miners would earned fair enough for their efforts.

I think the fee is depend on the bitcoin transaction, if the amount is big the fee is higher than when we send the low amount of bitcoin, I think it is fair for all people right?

in my opinion the fee for the most ideal bitcoin transaction is under $ 1. Yes, it would be better if the transaction fee had to be fixed, so that the transaction fee did not have the effect of rising or falling the price of bitcoin or the best is the transaction fee is "free"

I think its like exchanger transaction fee, most of exchanger charge fee average 0.1%. I think its fair if our transaction charge with 0.1% because its crypto not a fiat

i think the ideal fee would be 10 cents or lower, that way small merchats or even big stores will be encourage to use bitcoin as another form of oayments specially micropayments and microtransactions,,but this could only be possible through lightning network..

i totally agree on this, we really have to be by far more competitive on card payments such as visa and mastercard in order to rival the market specially in microtransaction, our only hope through lightning network and i believed it would be possible early next year, so it would be advisable to buy bitcoin as early as now before that happens.

For me, the ideal transaction fee is 1 cent. I understand that this is not realistic now, but I think that in the future there will be an opportunity to realize this)

no more than one cent. It was a great commission and a great PR move for Bitcoin itself. he needs to reduce the price per transaction and speed - these are his two main problems at the moment

I can not imagine that this can be translated into reality. Because most people will simply ignore Bitcoin and switch to other payment methods. So it will be much more effective.

how can the Commission be regulated? it is also regulated by miners on the basis of market relations of mining complexity

I hope in the future with the development of technology, the transaction costs of bitcoin will be reduced more. If so, then really good

For smaller amount of bitcoin transaction, the fee should be a specefic percentage (Ex. 0.5%) of the said amount so that bitcoin can go mainstream even with small transaction. Now for bigger transaction, the percentage should gets bigger also.

I concur the transaction rate should in the future be proportional to the amount that’s being transferred so that it’s going to fair in many regards.So that there will be equality in the whole thing .

I could really go for the feed in any transaction using Bitcoin for about anything below $1 only. But i guess that would not be done unless they are going to do something about it.

For bitcoin transactions, the ideal way of taking the transaction fees is by percentage. It is only a favourable percentage that should be talking about, a percentage that will favour both the miners and others.

I think within a range of 0.01% to 0.02% would be very suitable and acceptable for everyone along with some range of limits of transaction.

Lower than bank fees and faster … like it used to be.
Last year I had to use some coin to pay a bill: it was small like a few hundred dollars and I increased the fee to something I thought was high; $20 something.

It took DAYS.
I used to be able to move bitcoin around quickly and cheaply on a daily basis within an hour (and that would have been slow)

Would be everything that I could pay using it. But I really doubt that Bitcoin is the one we are going to use as a payment method. There will be a coin that would fit to do that role.

we certainly will want a small fee, because for the transaction fee seen from the price of the coin, the more expensive the coin will be the more expensive the tax.

0.5% should be the minimum fee for a single bitcoin transaction. This is because with the current fiat transaction fees I pay which is around 1-2%, 0.5% should be justifiable because there is already a network which provides all the necessary mechanism for generating a transaction and a company will just have to make sure that the account's private keys are secured

It's quite an interesting topic. Honestly, I have never even thought about that. It's natural for the exchanges to charge fees, and transaction fees change depending on the trade volume. The higher it is, the less you pay. There could even be options with no fees for transaction. Say, on CEX, if you've decided to buy BTG for EUR (https://cex.io/btg-eur) by VISA or MasterCard, you will have to pay about 2.99%. But doing it via bank transfers, you won't be charged anything.

If you will ask me if what is my ideal transaction fees then it is 5% or fixed amount. Many of us here are not enough profit because of there ranks and having a hard time to have a merit so they are stock up in a lower positions. Some transaction fees are 10 to 20 percent which is give us burdensome and I think it is not fair especially to those bitcoinist that has a little income.

i agree with the fee system right now, high fee is make the transaction be the priority and it will fastest than use the low fee. but it should lower than now for the fee because right now the fee is too high i think

High and low costs are indeed influential but with better services will certainly be very influential for this. The ideal cost of most of the 2% is enough, which is ensured that service can satisfy the holders.

The transaction fee also called miners fee is set to allow miners to activate your transaction or put your transaction the the next block to be mined. Everyone has the choice to change this value depending on when to expect the transaction to be done. I usually spend 100000 sat when I want to make my transactions instant.

You do realize that the world doesn't only evolve around people moving small values back and forth, right?

I conduct transactions almost on a daily basis, and in the last couple of months I haven't had to include more than $0.02 in transaction fees to get first/second block confirmations. You're either wasting your time on faucets and whatnot, or you are trying to consolidate an x number of inputs resulting in a higher than average fee.

Tip; In case of the latter, before you go to bed, try to consolidate your inputs in an as efficient manner as possible, add a below average fee, and when you wake up your transaction is confirmed.

I absolutely love the current fee structure, because I can buy myself priority by simply adding a higher fee.

Actually the cost for bitcoin transactions is very cheap, because the amount to be paid depends on the number of transactions. But in general the cost of bitcoin transactions ranges from: 0,0001 - 0,0005 BTC. The greater the transaction, the greater the transaction costs.

If you want lower transaction, you should choose wallet that supports segwit addresses. Segregated Witness (Segwit), is a different kind of transaction format for Bitcoin. Segwit changes the way in which information is stored on the blockchain, it allows for a reduced transaction size. This simply means that SegWit addresses enable bitcoin users to make cheaper and faster transactions. Check out available wallets such as Hodler wallet and samurai, it supports segwit addresses.

Everybody are dreaming about the zero taxes and fees, but I understand that this is completely impossible, so I am happy with those present now!

less than one dollar. Bitcoin will never be available for calculations in the whole day life if the price is so high

transaction fee is not a problem for me
the most important thing is the confirmation speed
so i can make payments quickly
but the ideal transaction fee for me is around $0.05

I think the ideal is 0.5% for each transaction to be cheaper than bank transactions. Transactions using bitcoin are cheaper, because transactions that occur between wallet owners and recipients are very effective and efficient because there are not too many rules. The security factor must be taken care of themselves because the wallet contains bitcoin, the private key is only the owner who knows.

There are teo parties that are important here. The miners need encouragement to mine, but also users need a reason to switch from fiat. 0.01 will make it good for users, with a 10 dollar cap at the high end

It seems very fair but if you procces your thought you could pay big ammount of money when you send big ammount of bitcoin (high fee / fast transaction
low fee/ slow transaction). For me is todays bitcoin transactoin fees is fair enough and i would never wish that it changes. When i make bitcoin transaxction today i am paying like 0.0001 and it makes $0,38 and it is quite acceptable. I wish that stays in this level.