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Author Topic: Solution to the high transaction fees at Bitcoin?  (Read 1480 times)
agamasrori
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September 08, 2016, 10:59:31 AM
 #21

Guys,Any one have any Solution to the high transaction fees at Bitcoin?
recently I see blockchain charge high fees.I am not transaction high bitcoin volume if this fees high I have to left using bitcoin.Also confirmation time sometimes very odd to me.

No realy much fee at bitcoin. Bitcoin fee was lower than bank. Blockchain is better than bank that is why banks are now try to using technologi like blockchain did. I still prefer like to use blockchain.


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September 17, 2016, 06:45:12 PM
 #22

Guys,Any one have any Solution to the high transaction fees at Bitcoin?
recently I see blockchain charge high fees.I am not transaction high bitcoin volume if this fees high I have to left using bitcoin.Also confirmation time sometimes very odd to me.

No realy much fee at bitcoin. Bitcoin fee was lower than bank. Blockchain is better than bank that is why banks are now try to using technologi like blockchain did. I still prefer like to use blockchain.

In my country, if I do a domestic transfer of money, there is no fee. If I do international transfer, the fee is high.

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chixka000
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September 17, 2016, 06:52:24 PM
 #23

I am not yet transacting high amounts of bitcoin so i really can't feel the fees you are saying yet. But i think that it is just normal? well if i were still to choose of course i should go with lesser fees.


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September 17, 2016, 07:46:31 PM
 #24

In my view bitcoin transaction fees are not high. Approximately we just need to the only 0.05% as fee for the amount we are transacting. I just see another thread appreciating about bitcoin's lower transaction fees and here a thread for discussing about solution to high transaction fees.


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September 17, 2016, 08:04:16 PM
 #25

No realy much fee at bitcoin. Bitcoin fee was lower than bank.

maybe in pre historic shit holes like the usa. in other places in the world you can transfer instantly and free with your bank account.

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September 17, 2016, 08:24:50 PM
 #26

Guys,Any one have any Solution to the high transaction fees at Bitcoin?
recently I see blockchain charge high fees.I am not transaction high bitcoin volume if this fees high I have to left using bitcoin.Also confirmation time sometimes very odd to me.

There's a simple solution, use some other currency, litecoin, dogecoin are pretty good coins with low transaction fees, you only use bitcoin for big transactions and avoid making any unnecessary or avoid bitcoin at all.

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September 17, 2016, 08:29:44 PM
 #27

Blockchain fee is 10 000 satoshis, and for that amount confirmation time is pretty fast. In beginning I thought is too much, but its reasonable. We help miners, and for that amount confirmation is faster then without fees.
Its less then 10 cents, lets be real what can you do with that money? I think this is a good way for work, people who take that money will have wish to be even better in the future. Every work deserve to be paid, so I`m ok with any fees as long as its reasonable price.

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October 09, 2016, 04:32:39 PM
 #28

Blockchain fee is 10 000 satoshis, and for that amount confirmation time is pretty fast. In beginning I thought is too much, but its reasonable. We help miners, and for that amount confirmation is faster then without fees.
Its less then 10 cents, lets be real what can you do with that money? I think this is a good way for work, people who take that money will have wish to be even better in the future. Every work deserve to be paid, so I`m ok with any fees as long as its reasonable price.

That kind of fee is quite reasonable. But the confirmation time is still quite slow. It is better to be between 1 to 2 blocks.

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October 09, 2016, 04:44:48 PM
 #29

Well... I think you can be decrease the fees of transaction before send bitcoins on your wallet, although it will make long time until the transaction be veryfied by miners. Because there are not choice for send bitcoins with free fees, except you sell bitcoins into paper wallet. Grin
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October 09, 2016, 04:58:08 PM
 #30

First, you should select a wallet that allows you to manually set the fees that you'd like and also probably something that determines the fees for you if the blocks are full. The closest I can relate to is the Electrum wallet. Considering that you don't have the whole blockchain downloaded (could be one of the reasons you're using blockchain.info's wallet), you can use a lightweight SPV wallet that has multiple servers that have the blockchain downloaded within them. With electrum you can set the transaction fee but make sure to check bitcoinfees.21.co for the appropriate/cheapest and fastest transaction fee. If you're at no hurry you can specify the next slowest transaction fee which will be even cheaper. Also the transaction fees mentioned by default in there is for 'per byte' you'll need to calculate your transaction size and then derive the fee. Always go for the fee's in green and ignore the ones in red.

Also remember as more and more people start using Bitcoin and as miners get busier they'll only start considering Bitcoin transactions with fees and as time progresses this fee will increase. You'll just need to consider this as a donation or incentive to the miners for their large investment made to mine. Right now miners receive Bitcoin mining reward but in the future this reward will be so small such that they'll have to sustain with higher fees.


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October 09, 2016, 05:15:12 PM
 #31

Guys,Any one have any Solution to the high transaction fees at Bitcoin?
recently I see blockchain charge high fees.I am not transaction high bitcoin volume if this fees high I have to left using bitcoin.Also confirmation time sometimes very odd to me.

No realy much fee at bitcoin. Bitcoin fee was lower than bank. Blockchain is better than bank that is why banks are now try to using technologi like blockchain did. I still prefer like to use blockchain.

In my country, if I do a domestic transfer of money, there is no fee. If I do international transfer, the fee is high.

This is one of the problem bitcoin solve, transaction fee is the same anywhere  in the world.  From point a to point b whether it is local transaction or international transaction  the transaction fee does not change.  Another good thing with bitcoin is the security.  Since hacker will have a hard  time to hack your bitcoin wallet and use the coin inside that wallet.

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October 09, 2016, 05:17:31 PM
 #32

hoestly i am not a blockchain user anymore i left using their wallet many months ago or maybe 1year ago. i have tested a lot of wallets and i am now stucked with mycelium wallet its an android based wallet and its a light wallet i pay very low tax in it something like 4000-7000 or even 9000satoshi sometimes for each transaction depending on the amounts like 0.03btc-0.15btc and it is also a zero confirmation wallet so i do not have to wait hours to access my balance i can use it in seconds

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October 09, 2016, 06:21:35 PM
 #33

Thanks for pointing this out. I wish more people would point out the complete change of fee policy is a fundamental change to Bitcoin. The higher the fees to use bitcoin are, the fewer people will use it.
Thats true, Andreas Antonopolous said many times "the other 3 billion people", that refers to banking services in asia and africa.
Problem is, this fees are really high for them.... for one time big money tranfers fees are low, but day to day use would be problematic.

I beg to differ, the average tx fees of banks in Africa is still higher than bitcoin will ever be. The banks bundle the tx fees, with other

service fees, so they make it terribly hard for clients to see what the real tx fees are. If you use Bitcoin without third party service and

wallet providers, the fees will always be much lower than any bank or remittance service in Africa.  Wink

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October 09, 2016, 06:36:39 PM
 #34

doesn't need a solution to high transaction costs, the transaction fees charged for send bitcoin is already at a low point if you use blockchain currently they only charge satoshi 10k ++.

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October 09, 2016, 06:45:25 PM
 #35

doesn't need a solution to high transaction costs, the transaction fees charged for send bitcoin is already at a low point if you use blockchain currently they only charge satoshi 10k ++.

0.00010000 =$0.06

thats an hours labour in a few countries.
bitcoin was suppose to have no barriers of utility/entry.. yet i cant see anyone being happy if they were told it would cost an hours labour just to move funds.

yes it gets "profitable" to use if they want to move 50x the fee in one go. because thats 2%, compared to visa/mastercard/paypals 2.5%.

but then bitcoin only becomes useful to move a weeks wage, and not really worth using to spend on anything smaller then a weeks wage.
and this is why bitcoin is only being used day to day by the developed countries, while developing countries dont use bitcoin for its intended purpose. but will try scamming users, spamming users to get their hands on a few cents via ponzi's, sig campaigns and faucet raiding

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October 09, 2016, 09:06:41 PM
 #36

I find the transaction fees for bitcoin very frustrating sometimes, I often send small amounts of bitcoins multiple times and end up paying huge fees. One solution I found is to use Xapo, they cover the transaction fee so this may be a good solution.
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October 10, 2016, 12:01:50 AM
 #37

Guys,Any one have any Solution to the high transaction fees at Bitcoin?
recently I see blockchain charge high fees.I am not transaction high bitcoin volume if this fees high I have to left using bitcoin.Also, confirmation time sometimes very odd to me.
Some bitcoin wallet don't have fees try to use what your country recomended to use because here in my country we send bitcoin without fee's and we withdraw are money or we change our bitcoin into cash without fees we can also send bitcoin/money world wide without fees and thats the good reason why i start bitcoin Smiley

Can anyone list down wallet that don't have fees.Which one most popular .Thanks.
XAPO? but I may suggest if in this time the users of xapo are having a problem with it. But I never try the wallet doesn't have fees.

https://bitcointalk.org/index.php?topic=925838.0

but without a fees you will never get a confirmation.

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.25th November.
.P R E - I C O..
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Tamilson
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October 12, 2016, 09:28:39 AM
 #38

No realy much fee at bitcoin. Bitcoin fee was lower than bank.

maybe in pre historic shit holes like the usa. in other places in the world you can transfer instantly and free with your bank account.

In my country, you can transfer free and almost instantly inside the country. The international transaction is expensive.

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Jeremycoin
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October 12, 2016, 11:33:53 AM
 #39

If you're feeling not good for this current blockchain fees (which is actually normal) then I suggest you to avoid doing a small amount transaction, by that I mean you have to do a transaction when you really have to do it. If you have to buy something with your Bitcoin but it just requires a small amount let's say you want to buy an apple which costs 0.001BTC, then you should wait til you got enough money for buying it in a bucket which usually has a lower price so you'll just have to pay the fee once.

Red-Apple
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October 12, 2016, 12:01:12 PM
 #40

No realy much fee at bitcoin. Bitcoin fee was lower than bank.

maybe in pre historic shit holes like the usa. in other places in the world you can transfer instantly and free with your bank account.

In my country, you can transfer free and almost instantly inside the country. The international transaction is expensive.

i am glad to see others are saying the same thing as i have been thinking too. the same thing is true here.
i have never made an international transaction so i don't know how that is going to work,
but as far as inside country transactions like between banks, and from one person to another there are ways you can use with 0 fee and there are ways with a fix amount of fee as big as 10 cents or less and they are instant.

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