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1  Bitcoin / Bitcoin Discussion / Re: My Business Accepts Small Payments - They Are Arriving In Wallet "Unspendable" on: May 23, 2020, 08:26:49 AM
Awesome feedback!

To be clear, when I said accepting “micro transactions” - the lowest item I sell is valued at $20USD, and I would be receiving the payment for that in one Bitcoin transaction.

I am using the BitLox wallet currently, but am open to alternatives.

And also to clarify - this isn’t because the sender didn’t include a high enough fee - I’ve had transactions like that stay “pending” for a few hours, but they’ve always cleared.

The message next to these transactions hasn’t disappeared after days, though these are confirmed transactions in my wallet.

Perhaps the Bitlox wallet is simply aware of the massive fees at the moment? And when they return to normal, my warnings will vanish?
2  Bitcoin / Bitcoin Discussion / My Business Accepts Small Payments - They Are Arriving In Wallet "Unspendable" on: May 23, 2020, 04:41:05 AM
Thank you for reading my question, and extra thanks to those who can provide input.

My business accepts payment in Bitcoin, with smaller items being purchased for as little as $30USD. Buyers have never had an issue with the fees inherently attached to using Bitcoin, as they've always been quite reasonable.

My most recent received funds have a message attached:

"This transaction amount is too small compared to current Bitcoin network fees. Spending these funds will need a Bitcoin network fee cost comparable to the funds itself"

I have researched, and do understand that network fees have jumped 800%, similar to 2017. My question(s) I cannot find clear answers to are as follows:

-If the transaction fee plummeted down right now, is the $30USD transaction I received a viable, usable, $30?
-If Bitcoin doubled in value, and my $30USD is now worth $60USD, is the transaction fee to spend it still close to it's value? Do I now have a spendable $30 with a $30 fee attached?
-Should I stop taking these micro payments immediately? Are they going to remain useless and undependable? They do not need to be moved or spent this month, or this year. But if I am accepting something of no value in exchange for a product which ha value, obviously I should stop immediately.

Thank you SO much for any input. I understand these are simple questions, which may have been asked countless times, but I have not been able to find answers.

Thanks again.
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