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Author Topic: I say it again: REDUCE THE FEES!  (Read 5981 times)
mai77
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April 03, 2013, 01:04:53 PM
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given the current rise in the BTC exchange rate, the BTC transaction fees MUST be reduced NOW!

JFC!  Embarrassed Undecided Huh
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prezbo
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April 03, 2013, 01:06:43 PM
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I ask again: why? If you want to spam the network, you're going to have to pay a fee. Rightly so.
mai77
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April 03, 2013, 01:09:22 PM
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well what folks pay now is not a fee, it is a f***** rip-off
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April 03, 2013, 01:12:01 PM
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well what folks pay now is not a fee, it is a f***** rip-off

Feel free to use a client where you can set your fee as low as you want.

And after you did that ... go outside and harass some bees.

Plagiarize, let no one elses work evade your eyes.
Remember why the good lord made your eyes, so don't shade your eyes but plagiarize, plagiarize, plagiarize. Only be sure always to call it please 'Alternative Coin'.
the founder
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April 03, 2013, 01:13:27 PM
 #5

I have to disagree (though I don't like paying fees as much as the next guy)  the issue is the miners need to get paid.  These are the same guys bidding 30,000 dollars on Ebay for 1200 mining machine because they are factoring in fees for paying that massive markup.


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April 03, 2013, 01:21:13 PM
 #6

As community grows, the fee will grow, so it's the only regulative at the moment to stop people from filling up the blockchain for no reason. And 7 US cents - is that really much ? Banks charge a lot more!
mai77
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April 03, 2013, 01:29:21 PM
 #7

thats bs

you can easliy have free bank accounts in europe.

transactions are free over here if you want
kokojie
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April 03, 2013, 01:35:32 PM
 #8

given the current rise in the BTC exchange rate, the BTC transaction fees MUST be reduced NOW!

JFC!!  Embarrassed Undecided Huh

It's still dirt cheap compared to credit card or paypal processing (something like mandatory $0.25 + 2% or more). Miners have to be paid with fees pretty soon, after the next halving, the mining reward from fees will be very important to keep miners on board.

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April 03, 2013, 01:36:24 PM
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well what folks pay now is not a fee, it is a f***** rip-off

Let me know if you find an internet currency with less fees than bitcoin.
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April 03, 2013, 01:43:59 PM
 #10

I don't really think I've paid any fees of late, even when I send around 10 transactions per day of varying sums.

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April 03, 2013, 01:46:11 PM
 #11

Just let your coins age..  I do and don't get asked to pay a fee 99% of the time and the coins move without delays.

But yes its getting as bad as normal banks fee now.
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April 03, 2013, 01:48:13 PM
 #12

The fee system is in place to stop spam. For instance SDice takes up around 80% of the network with "0.00000001" type transactions. Its part of the security system. Lowering the
fees would also push out large numbers of Full Nodes. I read some were we are down to 10k and that number is dropping each day. If Fees drop any more Full nodes will be forced to censor and refuse all small transactions that don't have a fee.

(I am a 1MB block supporter who thinks all users should be using Full-Node clients)
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April 03, 2013, 02:05:02 PM
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It's still dirt cheap compared to credit card or paypal processing (something like mandatory $0.25 + 2% or more). Miners have to be paid with fees pretty soon, after the next halving, the mining reward from fees will be very important to keep miners on board.

pretty soon as in 2140?

I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same. Miners will still get paid an equal amount in value so i don't see why that is an argument to not do it. similarly, if we reduce the transaction fee according to bitcoins worth, spam protection will stay the same, as the serious spammer will still have to invest the same amount of value to spam.

By not reducing the minimum fee we are slowly taking away one of the advantages of bitcoin.
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April 03, 2013, 02:05:37 PM
 #14

the idea of satoshi dice is actually in my mind testing/showing the system as it will be used in a few years time when a bitcoin is thousands of dollars each, millions of people will be trading only satoshi's between each other.

so instead of putting in fee's which add up now to WELL over a few cents/pennies. the extremely well paid bitcoin foundation should use the satoshi dice as an example of the future transaction styles that will happen. and make bitcoin cope with it.

instead of trying to evade and avoid dealing with small transactions.

a couple years ago bitcoin was shown to be a free market where transactions are virtually free and you can send any amount in seconds.

but now

costs are 5cents or by avoiding fee's a single confirms can take alot longer then 10 minutes.(hours in cases) and may not even get accepted if its only a few cents order. so there goes any chance of me wanting to buy a pack of chewing gum without waiting using bitcoin

so like the OP say's sort out bitcoin to cope with small transaction spam as its not spam, is just an example of the future transaction sizes and quantity.. because once not just the niche market of crypto/drug/programmers/libitarians really start to use bitcoin but also the mainstream population then you will see many many many more satoshi (under 1btc) transactions happening.

so use satoshi as an insight to the future.. not as something to ignore..

and also

REDUCE THE FEE

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
phantastisch
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April 03, 2013, 02:08:29 PM
 #15


I DO NOT UNDERSTAND HOW BITCOINS OR FREE MARKETS WORK AND WRITE IN BIG LETTERS

ftfy.

I quote myself :


Feel free to use a client where you can set your fee as low as you want.

And after you did that ... go outside and harass some bees.


Plagiarize, let no one elses work evade your eyes.
Remember why the good lord made your eyes, so don't shade your eyes but plagiarize, plagiarize, plagiarize. Only be sure always to call it please 'Alternative Coin'.
jl2012
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April 03, 2013, 02:10:18 PM
 #16

thats bs

you can easliy have free bank accounts in europe.

transactions are free over here if you want


until they decide to hair cut your account

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kokojie
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April 03, 2013, 02:19:36 PM
 #17



It's still dirt cheap compared to credit card or paypal processing (something like mandatory $0.25 + 2% or more). Miners have to be paid with fees pretty soon, after the next halving, the mining reward from fees will be very important to keep miners on board.

pretty soon as in 2140?

I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same. Miners will still get paid an equal amount in value so i don't see why that is an argument to not do it. similarly, if we reduce the transaction fee according to bitcoins worth, spam protection will stay the same, as the serious spammer will still have to invest the same amount of value to spam.

By not reducing the minimum fee we are slowly taking away one of the advantages of bitcoin.

No, pretty soon as in next halving. 1800 BTC per day production isn't going to keep enough miners interested, but the fees will. if you want security, you pay the fee. Better security increases the value of your own BTC.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
reg
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April 03, 2013, 02:29:40 PM
 #18

I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same.

+1 exactly it should be proportional. reg
mai77
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April 03, 2013, 02:36:22 PM
 #19

another f****** rip-off is the 1 € = 1 U$D fee  to be "allowed" to edit the btc-wiki  Angry Angry


you shameless greedy sheisters ! Angry Angry


you shameless greedy sheisters !
phantastisch
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April 03, 2013, 02:40:59 PM
 #20

I would say: yes reduce them. Prize has trippeled over the last month, on a similar level, Transaction fees should be lowered to 1/3 of the original value so the worth of the transaction fee stays the same.

+1 exactly it should be proportional. reg

Guys ? A transaction fee in the bitcoin case , means the minimal amount required to get included in the block. Additionally a Miner can reject to mine a block if he thinks there is not enough fees paid.

So , and if you are not included in the block or your transaction is in a block with low fees your transaction may in the worst case never be validated.

However at the moment there are no miners rejecting anything. But this will change in the near future.  Miners will set a price. And that is how it always was intended.

The values in the satoshi client are only a guidance ( and its quite small), so get over it and pay your miners for securing the network.

Plagiarize, let no one elses work evade your eyes.
Remember why the good lord made your eyes, so don't shade your eyes but plagiarize, plagiarize, plagiarize. Only be sure always to call it please 'Alternative Coin'.
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