It costs $0.09 cents to send $0.24 cents of Bitcoin? Really?

[gtraah]

Hi -

Tried to send $0.24 worth of bitcoin and this pops up:




Is this what they mean when they say Bitcoin can never be used for micro transactions?  

Is this one of the 10 million things the Bitcoin dev team should have fixed 12 months ago, but has slated for "some time in the next 5 years" instead ?

Meanwhile the entire financial industry sees Bitcoin as having major flaws and never incorporates it.

And we never go ot the moon, because a bunch of developers have decided "we dont need that fixed right now.  we'll do it later" ?

Or is this something else?

-B-

Dude you could do it for 0.0001 I think coinbase limit is 0.0002

[gtraah]

I am able to send 10 BTC ($5,060 at the moment) completely free of of charge from my bitcoin wallet to another person's bitcoin address instantly with no miner fee as well.



Did I read this right, how can you send Instantly without a TX fee? I thought it takes absolutely AGES to confirm

If it doesn't confirm It means the other person at the receiving address cannot spend it?

[gtraah]

The topic should be It costs 5c to send 25c.... Dont use coinbase, I dont get why you would use coinbase? You may aswell use Paypal and spend MUCH more.

0.0001 is the tx fee , Coinbase charges more as they are helping the miners and feeding the ecosystem.

[Cream]

Bitcoin relies heavily on the miners, they keep BTC strong. So if miners are not being paid out, BTC will die. The fee is necessary.

[FLYFLYFLY]

The minimum for per transaction is ฿0.01 on Okcoin and the fee is ฿0.0001. 

[ariyaromadhona]

So if i send 5 BTC it cost 2 BTC? nuff said 
great Logic man 

NO thats not the point the point is that you cant send small amounts because the fee will be more than you are sending.

Nope my friend .. i'm just make a Chaff about his opinion's 

[Wooden Plate]

Those 0.09$ are the miner fee. If miners stop working then its the deadend for btc. Respect to miners.

[bryant.coleman]

lol... earlier I used to pay the default transaction fee for sending my coins. Once I paid as much as BTC0.001 to send BTC0.0015. Then I searched around a bit and found that we can change the "default" value in Blockchain.info. After that, for smaller transactions, I usually pay BTC0.0001 or less. Never use the "default fee" option. Always use the "custom fee" button. 

[finlof]

i dont think i've ever paid a transaction fee using coinbase.  is this new?

[itsAj]

lol... earlier I used to pay the default transaction fee for sending my coins. Once I paid as much as BTC0.001 to send BTC0.0015. Then I searched around a bit and found that we can change the "default" value in Blockchain.info. After that, for smaller transactions, I usually pay BTC0.0001 or less. Never use the "default fee" option. Always use the "custom fee" button. 

If you bothered to read the thread you would see that the OP had used coinbase who forced him to pay the fee. He did not have any choice. Since coinbase controls the OP's coins and the coins will not necessarily be sent from specific inputs that the OP received he has very little control over what the cost to send his TX would be.

[Candystripes]

Just be glad it costs 9 cents to send $100M of bitcoin too.

[finlof]

Just be glad it costs 9 cents to send $100M of bitcoin too.

i'll pay you the 9 cents if you send me $100M in btc.