Bitcoin Forum

What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?

Many app/wallet software calculate the "suitable" fee automatically. For expert, they usually generate the transaction themselves with the fee that they are willing to pay. I am not sure about 0 fee, but very low fee is possible.

You can try coinb.in to generate your transaction with the fee you want to include. Just sign and broadcast the raw transaction after that.

The usual transaction fee for Bitcoin nowadays is 1 satoshi/byte. That makes most transactions have a few cents fee. Unfortunately most online wallets and exchanges charge big fees, but that's their bad policy.
0 fee is possible, but there is a good chance the miners will not confirm your transaction. They don't really like to work for free. Hardware is expensive and electricity has to be paid for too.

I have sent a couple of 0 fee Bitcoin transactions this year and they were confirmed within 10 blocks, but that was without heavy network congestion and the amounts were fairly large. I'm sure that if it was an amount of like 0.005BTC or so that it would sit there doing nothing for plenty of more hours.

In the end it's not worth the hassle. Seriously, wasting hours just to save yourself $0.01 in fees is ridiculous and shouldn't be an option, unless it is more for testing purposes wich was the case for me when I sent transactions without any fees.

Network usage increases the fees significantly because there is no infinite block space. All fees are justified as long as you are willing to pay them.

transactions will always cost something no matter what. it may not be in form of fee but it will be a cost.
but if fees are your concerns then for bitcoin and those altcoins that  copied bitcoin NO it is not possible because of the design of these coins. fee is there to prevent spam attacks from going on for eternity.
but it is possible in other designs  that are not copying bitcoin. for instance NANO and i think IOTA also have 0 fees.

would you mind sharing the TX ID of these transactions?
i have been trying to do it but i have been failing to get it to even propagate. the nodes reject it so it doesn't even reach the miners!

I really think that hardly can not happen transaction fees are rewards for miners, They call it the miner fee and it is absolutely needed until the last block of bitcoin has mined, However, transactions still need to be validated and stored on blocks in the blockchain so miners will only benefit from transaction fees and This could essentially be the lifeblood of miners in the next century, once there are no more BTC tokens to be unlocked. This is laid out in Satoshi Nakamoto’s Bitcoin whitepaper, But if you really want a fee free transaction there are wallets that are not issuing fees if the transaction was made with the same wallet transfer, Or maybe there are fees but in a way of a different approach but it is highly noticeable, And you will need to encourage everyone you know to only use the same wallet you are using.

So basically the question has two layers I guess. First is for example fee of Bitcoin transaction and the second one is all the technology related to a wallet. And yes, I understand totally that there are real costs in this world and the money must come from somewhere. But there are some cases where you move your tokens and end up paying an enormous amount of money. That's why I raised the question too.

Yes, that's true.

For the cost of bitcoin and altcoin transactions will not be removed, there may be a reduction in transaction taxes, but the more expensive the price of the coin will increase the tax

i do not think transatcion cost zero will be possible. we need miners for transations to be confirmed. and they will need to be payed as the cost of running a miner is pretty high.

I prefer to keep them hidden since these were transactions from and to my cold wallets.

Yes, there are plenty of nodes that by default ignore 0 fee transactions. What client are you using and have you tried to create a raw transaction and use an external service that will broadcast your transaction for you? If you do, carefully inspect if all parameters are set correctly, because this is how people quite often end up paying insane fees.

For the users ,Yes.
For an example see EOS, it offers a platform where the service provides are also those who pays for the fees, which means that the users have nothing to worry about fees.
Not only that, some Proof of Stack coins won't even require you to pay any fees  for the miners, as the miners are just random people who owns stacks in the network and are being chosen randomly, It makes the life much better because there are no fees to be paid, but on the other hand, it might make the currency that is being used in the network to suffer from an deeper inflation.

In Bitcoin a zero rate is almost impossible, but a low rate is feasible. The miners have costs to make the transactions, and if there are no gains they will hardly keep the machines mining, which will decrease the hash power and consequently the security of the blockchain. The proof of work has this characteristic, and despite the costs, they are the ones that guarantee the security of the data contained in the blockchain.

There are some currencies that have zero rate propositions in transactions, such as Nano.

nano has zero fees, or so they claim. There are many coins out there that charge minimal fees

I see yes, that mining as well is a big question because you do need a lot of computer power etc. Thanks for the answers guys. I will also investigate this nano, seems interesting too.

Nothing is for free and no one will give anything away for free. Here it will not be different. In a good situation, the fees are ridiculously high ...

zero is almost impossible but transaction fees are too low these days and I guess it will become just a few cents in future.

thanks for the reply.
what i do is that i use my Electrum wallet to sign these transactions with  0 fee and then use different bitcoin nodes (not Electrum but directly the bitcoin core nodes that i can see using their IP addresses) to push my tx. i haven't tried it recently so maybe things have changed a bit, i need to recheck again later.

I guess it can be reduced but not a zero transaction fee. Zero fees are only possible to a same wallet transfer and a same coin transfer. Fees also serves as payment for those who run nodes and confirm transaction. If there is zero fee then what will these people get from working hard.

It is very unlikely that coins will have transactions costs as those are rewards for the miners and stakes. You can use coins that have low transaction costs like DGB and many more.

It's possible but think at their position would you even spend good amounts of money to buy hardware to recieve nothing in return? fees can reach as low as 1 sat/b if there is a change that people will adopt to smaller fees rather than spending lots of Sats/b in transacting.

It is possible, but, it used an alternate way to transact rather than pushing the transaction to the blockchain so there will be no external or miner fees. But, zero transaction fees only applied to the same users which registered on the platform. You can find this amazing feature in coins.id or coins.ph.

This is the expected one among the traders. From my concern,if this happened.Many of the digital transaction will be made by bitcoin.Then bitcoin will become a king of digital payment. This gradually increase the price of bitcoin in the market.It also increase the investors in bitcoin.

In my own opinion it is impossible to happen as transaction fees are needed by developer for the maintenance cost, upgrade and security of their platform maybe cheaper but not to the point that it is already goes to zero fee as long as there are massive competition price may for transaction cost may go lower to attract users to use their platform.

I think it's not a justify question,because any type of business running successfully  requirement without cash.it is not possible to have zero transaction cost for bitcoin & altcoin.quality e

Zero fee transactions are possible, and some mining pools actually accept a small number of zero fee transactions as some sort of charity effort. Besides that several coins actually have zero fees, or close to zero even.

It will never be possible. If they do this, then the cost of their network will come from where? We have to bear some costs for running the network. It is possible to reduce the cost of transcation but it can not be zero.

If you wanted to take a zero transaction cost in the cryptocurrency blockchain, it is impossible I think, but, its nearly impossible somehow. Transaction fees are controlled by the people who always in rush on getting their transaction to be confirmed so that the transaction can be sent successfully in no time. If you would ever use 0 satoshis or 0 gas fee, expect you will wait for 5 years or even more until the blockchain won't be used to send transactions by anyone else.

Lightning Network fees are of magnitude of satoshis and even fractions of satoshi's. This is virtually zero-fee transactions. Because Lightning Network is built directly on top of Bitcoin's blockchain, it is theoretically just as secure as on-chain transactions (this is not the case now, because the project is still in beta and there might be bugs/vulnerabilities). All the altcoins that currently promise free transactions and huge scalability are insanely centralized, so I wouldn't even call them cryptocurrencies.

I think it is impossible. Every market would need income to continue to exist in the world of krypto.

As all of us are using bank accounts all around the globe or the paper currency for buying and selling or for transfering all over there must be the taxes and the transfer fee because of the terms and conditions for everything so as the bitcoin is the digital currency it also has the transfer fee.The transfer fee should be reduce but it will never be eliminated for the transfer of bitcoin.

It remains to be seen but I hope it do happen someday because one major highlight of cryptocurrency is low transaction fees and it has not been the case is most instances.

it is unlikely there will be zero transactions cost
because to do the transaction you have to turn on your PC or smartphone
electricity usage also includes transaction cost
but so far I only know there are two coins that do not have transaction fee
Nano and IOTA

Yes, it is possible. But it will take a long time. Bitcoin needs improvement in other fields like it's transaction time still not good. It's slower than other payment services. If you look before two months ago then you will see that the bitcoin transaction was very high than now. So, it's decreasing. So, day by day bitcoin network will be improving and we can see even zero fee transactions.

Transactions fee is to pay minner, Bitcoin transactions is competting each other. Someone who set higher transactions fee will be prioritized. If you set 0 transactions fee then maybe your transaction will never be confirmed.

There is not going to be any scenario where people will have the chance to make any transaction without paying any fees if that happens it means that the miners are not going to be required and that goes against the Blockchain technology.

It is not possible, miners need to get rewarded, that is the incentive for them to keep mining the blocks, otherwise, why they would be mining? For free? No way, they are cheap now, less than $ 0,10, why are you complaining my friend? It is worthless.

If you are a miner and you saw a zero transaction fee will you mine it? No right? Hehe
Okay so bitcoin transaction fees are where somewhat the miners get their satoshis and that is why there is a suggested fees because that is how supposedly the system works
But if you are a miner then i think you can do that lol you confirm your own transaction if it will work

I agree with most here there will most likely be a fee associated with the transactions aside from the rare 0 fee transaction that do occur.  So I guess its possible in one off situations for a zero cost transaction but for the most part you will have to pay the fee.

There are some other altcoins that offers zero or near-zero transaction fees. As for BTC, it's really needed to reward the miners.

I believe that it is possible in the future to eliminate in the now the rates are high in the small transactions the truth is that the miners already earn bitcoin in the future when this high the bitcoin should not charge them nothing the exchanges also charge for take out ls coins and they win with us for each effective transaction should not charge so much when you withdraw our coins there are many alcove that are creating portfolios in which one pays zero but of course in that single currency the nice thing would be an exchange between currencies outside of the exchanges that the fit was minimal

I think the fee fee to be maintain the coin coin with that is profit for their. However if it is too high does not good. which is the user of the transaction

You can try coinb.in to create your deal for the fee you want to include. Unfortunately, most e-wallets and online exchanges charge a lot, but that's their bad policy.

As you can see lately that the cost of transaction fee have greatly reduced. In that we might move to the era of zero transaction cost even its not actually 0 it will be closer to 0 and the it does not get clogged again.

The transaction is possible, but it is not profitable for the miner to continue mining IF everyone is doing this. The Block rewards and the Miners fees are the only incentive for these miners to continue mining and if we remove this, then all miners will stop their mining activities. You have to remember that with every Halving, the Block reward is smaller and at one stage in the future, the miners will only be mining for the Miners fees, so this has to continue for this experiment to succeed.  ::)

Dropping a few cents towards Miners fees, is an investment in the future of Bitcoin.  ;)

Some wallets like segwit,green wallet,mycelium they are providing too much low transaction fees...But zero transaction is not possible....there must be transaction fees....but coinbase is providing zero transaction fees when transferring from one wallet to another coinbase wallet...So if everyone starts using coinbase then transaction fees will come to zero...

Based on the blockchain technology, I think that 0 fee is impossible, when there is no fee so what the miners will get??

I have not experienced such scenario before, because every of my transaction has been changed, with amount of token I'm transferring to, which such case no fees are charged and it went successful, i think is not possible.

you don't want zero fees because it would take incentive from the miners and they're necessary to maintain the network by confirming the transactions on the blockchain

I experienced this before, there's no fee for real with bitcoin transactions and I enjoyed sending amounts before. Time flies so fast and upgrades are happening.

It's still happening, if you are using a local wallet sent to the same local wallet address = no fee.

You can set your own fee depending on the wallet you are using. They give the "recommend fee" which you can receive it with a good ETA.

both statements are kind of wrong.
first these altcoins aren't really used so you can't really talk about their fees. miners have no other choice but accept whatever people are paying them or not in fees. so having zero or near zero fees doesn't count for them.
second the fee we are paying miners is NOT needed to reward miners they are already receiving $78000 per block they find. they don't need the fees now.

I could`nt say yes,because collecting the fee by many transaction such like a paying tax in the government,So many of those token or altcoins that using blockchain ,is this is the way how they`re collecting taxes from them.

Rather than possible, Its not feasible for miners to confirm that transaction. Think for yourself being a miner. Why will you work for free after investing heavily into hardwares and also electricity costs.

If it's possible, bitcoin will surely will be the only currency in this world.
But i think it's impossible cause the network build is need money to stand last

I don't think it is. The transaction cost are used to run the Ecosystem and to sustain it. I don't know how possible it is to completely remove  it. It may possibly lead to a collapse of the system

posible if the transaction is bitcoin to bitcoin there's applications that can transac with 0 fee. but if tha transaction is bitcoin to altcoin its imposible to transac without a fee..

I think it is impossible, there are mechanisms and processes that require a fee in every transaction. I think you realize that
although I do not understand the mechanism but that's the fact that happened

I think it is impossible to have a zero transaction fee since every process needs to be paid and has a certain amount that should be paid depending on how difficult it is to be processed. In this world there's nothing free, they may say it's free but there may be a hidden charge or something else.

In my opinion it can't be happening for bitcoin transaction with zero fee because bitcoin transaction need fee for the miner. The fee is for the miner as to cover their effort to mine bitcoin.

Honestly, I don't think so that there is such a free or zero cost of transactions fee because I think the fees that we pay is the way that one company or organization are made just to have a business profit. Any association, organization or companies are applicable to get a fees for their services offered so I think at this current time it's impossible to have free or zero fee if we doing or making transactions.

If Bitcoin transactions are too expensive, people will start using other platforms. For Bitcoin community,it's unprofitable.  But what was happening with the prices of transactions last fall is very sad. 50-100 dollars for 1 transaction - it was quite a common thing. And if you need to transfer $ 10 in bitcoin or $ 1?who needs this? nobody.  It's necessary to make payments in bitcoin to be profitable for each amount, and not only in some cases. only Bitcoin will become really necessary and popular.The miner should receive a reward for finding the block , that's his main earnings. And the fee for the commission should aim to zero.

I dont think it posible to be 0 fee transaction.. Because it's business they pay about the site and the editor of their site also the protection of their site.. Maybe in a smaller price but if that posible, well thats good

I don't think that's possible. If there's zero cost, who's going to maintain the entire block network?
Blockchain decentralization must have a reward system, which requires a fee.
However, it is entirely possible to reduce the fees. When the throughput goes up, the fees will naturally go down.

I think that is impossible because if no transaction fee for every transaction no exchanges and wallet provider will serve us to process of our Bitcoin or any altcoin to make transaction in any different way.

In my own opinion, maybe in the future when the technology grows even more then there is a huge chance for the transaction fee's to decrease and might become free in the future.

the transaction fees in my opinion are not too much, especially there are some coins which charge only cents for a transaction regardless of the amount. Try the bank transaction fees and you will understand the difference.

It is more than impossible because miners are transacting those transactions for the sake of them, they are getting remunerated for that, and they will not be transacting those if they get zero dollars for that, do you understand how mining works now?

Theoretically, it is possible to conduct a transaction for free, but almost not sure that it is possible.All services have their price and that's normal.

It isnt possible to be zero, it is the way they benefit from the transactions you make. If all still within reasonable limits why not. All are business people and this is the business world, anything can happen

it seems the cost of 0 seems unlikely but to me personally As long as the bitcoin we save or that we send safe and fast is not a problem.

I think the fee fee to be maintain the coin coin with that is profit for their. However if it is too high does not good. which is the user of the transaction, it's i think.

I am of the opinion that nothing in this world is free.  If someone advertise that they are providing something free then they are lying.  If business man gives something free how the cost of running the business will be met.,

In the same way there is possible that transaction fee may be  very low for bitcoin transfer but it can not be free.  Because definitely wallet service providers have  to spend some money for running their site.  They must be willing to charge at least such amount which can meet their expenditure.

no transaction fees are free and even the cost must be very expensive or low but will not make us weak about it.

I think Zero fees is not that possible. Every transaction needs fees. It is just like a vehicle that needs some fuel to start up and travel. Like Crypto it is the whole blockchain.
I haven't heard about Zero fees but the cheapest fees are already available. Since some alts are provided, they seem to  be very useful and very convenient to use in trading and transactions.

i think it will never happen, because as we know that if the transaction cost = 0 it mean that the coin is dead, there are no activity on it. and i think its not good for us or the holder of that coin, they will get big loss because of it

For bitcoin within past few years there is no costs in any transaction and now i think it varies and if the bitcoin lightning network has been successful the costs or fees will no longer exist. In lther altcoins there are already some of it that has no fees you just have to know what are these coins and if they will last until in the future.

It depends. If you directly transact with the party you have an open channel with, transactions are practically free. If you however hop your transaction through multiple nodes, fees may still apply. The only difference is that the lightning fees are waaaay lower than on-chain fees, so even if you end up paying a fee, it will be 10-100 times less than what you pay on-chain. Maybe even lower if the market effect kicks in, because you can ignore certain 'expensive' nodes to find a cheaper route.

Altcoins with no fees = altcoins with no network activity.

Zero transaction fee is not possible but we can say low price is possible because miners are doing mining with high cost hardware, mining rigs and electricity so zero cost is not possible. many wallets have different different price  but bitcoin transaction is peer to peer and form is bytes/ satoshi price is depends on miners how they accept it.

it is not possible, especially for altcoin. the increasing value of altcoin or bitcoin prices will automatically increase transaction costs and this has been proven in the past year when bitcoin rose very high.

I don't think that is possible for now because every transaction have the POW which deserve a reward and the cost in which the transaction takes before getting confirm will also be reason we can't see or have zero transaction fee, but it can be reduce to a bearable amount , that I think might be good.

In the past you could, but that transaction would not be successful or the transaction would be up to a week. Your waiting cost will be big transfer fee of Bitcoin!

yes that is very possible, there are some altcoin that have zero transfer fee and it takes within some second to deliver to any address. and it will be the future of blockchain, now reason such project is designed is due to the complain of high fees and charges in the blockchain.
the project is nexty.io with this nexty platform you have no problem of gas fees and the rest, you can rush and buy nexty.io (NTY) on idax.mn
you can appreciate to the following wallet: 0x44c1d4125d30daa1d5d2389e5b48fcc0153940b1

I'm not a very big expert in this, but it seems to me that if those who have influence in the bitcoin world agree to abandon the services of miners, then the cost of transactions will be easier to make zero. Some projects already have zero transaction costs.

A small fee is acceptable as a usage tax but when the fee is too large it will affect the user. It reduces the volume of transactions pretty much

I personally do not think that zero transaction costs are possible because you need to provide incentive to keep the network up & running.

There are already many coins close to zero transaction costs. We all know that the transaction cost of bitcoin and ETH is very high, especially some small transactions. I think the introduction of lightning network can alleviate this problem very well.

Mostly exchange sites deduct transaction cost because this the only way for them to get some real profit so they don't want or they are not in the favour of zero transaction fee. But there are some professional sites in which transaction fee is almost equal to zero.

I myself am not convinced that the transaction can be zero, many people think it is impossible because it involves expensive technology. however, I think the transaction becomes empty may occur if using the exchange without going through a third party. for example, swapping tokens with group groups or using auction platforms without fees.

Dont know if it would be ever possible because miners will always be the middleman's of all the transactions on the blockchain, but fees are cheap now, $0,10 for each transaction is just like a gift, i dont know why you are complaining

more precisely if you want to like it maybe later when you're in heaven.
Its logic is anyone willing to work without salary?

because every Bitcoin or Altcoins transaction requires miners or Exchange to send your money to another wallet, and it's needed to pay for their electricity and hardware. cost 0 = none.

The cost of electricity is one of the major reasons why transactions cannot be zero. However, when there is a cheaper cleaner and much accessible means of electricity,this could drastically bring down the cost of transaction costs between exchange sites and wallets or during wholesale transactions. Till then it won't be possible.

I think it is a natural thing when we are charged every transaction on any wallet account we will be charged if we want to move our money, it is very reasonable thing because the transaction cost is only a little.

if I think if the transaction fee becomes zero it is very small possibility. if the transaction cost goes down I believe it is even more likely that it will happen.

I believe that you cannot remove transactions costs for bitcoin because miners also need something in return for confirming a transaction. You may reduce it by using the mining device's hash power efficiently. In the near future, the value of a transaction cost will become insignificant to the part of service users because of the evolution of technology to hardware devices.

Right now miners get less than 2% or 3% of their reward from the transaction fee, and therefore I think that they will be fine even if the transaction fee is kept to zero. And they will gain in the end, as Bitcoin will get more fuel for its fight against the altcoins.

I believe it is not possible because miners generates income from the fees. If it will be removed then, the chances are high that, miners will stop their operation as it will not be cost effective.

I do not think that zero free transaction would be possible with Bitcoin transaction because it depends on the miners. The higher the fee that you give, higher that chance that it will be pick by a miner. If you send a large amount of Bitcoin using only 1 sat, then you would never be able to send that because there are a lot of transaction that has a higher fee and miners would prioritized this transactions instead of yours. I do believe that instant transaction does exist. Just look at RaiBlocks which is now called NANO.

Gradually we are approaching the era of zero transaction fees. Currently only few project like NEO allows this. This is a very good strong point for it. But currently we do not have zero transaction fee trading platform which I think will be very difficult to achieve. But we hope it comes soon maybe in a different pattern. We wait for it.

If zero transaction costs are possible, I am yet to be aware of them, however, that will be when the cost of electricity is negligible or transfer amount is small within limits of definition of what is called small.

I don’t think that it is ever possible that the bitcoin transactions could reduce to zero, for now we all know that bitcoin is a decentralised crypto currency and there is no as such proper authentic regulating body over bitcoin and then also there is a transaction fee that every exchange charge while transacting bitcoin and this is very obvious even then any company would charge something if you are using her or his resources and no doubt if bitcoin Weill be legalised world wide then the transaction fee for bitcoin will increase even.

I personally do not think that zero transaction costs are possible because you need to provide incentive to keep the network up & running.

I don't think that we will ever face the fees so close to 0 or actually 0, because all the exchanges and transaction platforms need to earn from something to exist. Basically it is their earnings.

Now projects with zero cost per transaction are being created, this is in demand in business, basically it is privat blockchain.

Zero transaction cost in crypto coins seems impossible to me, but there are transactions with very low cost, that is low amount of fee. Without cost, you might not even which helps the crypto community to continue. Zero transaction cost is almost not possible.

BitCOIN, yes. 0 fees.

Bitcoin Core Software?  Good luck.

I personally do not think that zero transaction costs are possible because you need to provide incentive to keep the network up & running.
So its practically impossible.

There was a time where this was possible for bitcoin but now you should forget about it, the model of bitcoin is to replace the block reward needed to maintain the miners with the fees of the users of bitcoin, so it is not possible the miners are not doing this for charity, they are mining because it is a lucrative business and if you want to use the bitcoin network then you need to pay.

Not really , because fees is a part of the developmental asset of the transaction where it exist for a reason. But if you want to find a low cost transaction you will need to find a local wallet where there is a minimum amount or cost of transaction depending on the rate of time of transaction to be successful you will just need to find it and also support it.