I'm using a blockchain.info wallet. I am building an app and am using the blockchain.info API to send/receive money. I have to test with real money before declaring my app to be functional.
I am using transfers of 1USD for testing.
I just did a send to many transaction from 1 address to 17 receiving addresses. ( $17 dollars to transfer, paid a custom fee of $4 to make sure it don't get stuck ). This worked fine and I guess is acceptable with all the network congestion.
But now I went to transfer the 1USD back into the main wallet, and the fee is about 90% of the value of the transfer ( transfer 1USD, fee is like 90 cents, so I'm left with 10cents after the fee )
Is this normal? Does bitcoin basically outlaw tiny transactions? If so then it will never catch on for everyday purchases.
Imagine going to buy a bottle of water or some candy, and paying $2USD for the item and then an extra $2-$4 USD just for the "privilege" of performing this buy/sell with bitcoin. WTF?
??