How much are you willing to pay in fees for a Bitcoin transaction?

[w00t]

This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalk.org/index.php?topic=1777803.0

How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

[The Sceptical Chymist]

It depends on how much the transaction is for.  I'm OK with giving $1.00 if what I'm sending is a few hundred dollars.  If it's something like signature campaign earnings, I'd be willing to pay a few cents at most.  Maybe a dime or so.  I like wallets that let you adjust the fees.  The blockchain.info wallet sucks ass for just that reason, though I forget what they're charging for a fee.

[w00t]

It depends on how much the transaction is for.  I'm OK with giving $1.00 if what I'm sending is a few hundred dollars.  If it's something like signature campaign earnings, I'd be willing to pay a few cents at most.  Maybe a dime or so.  I like wallets that let you adjust the fees.  The blockchain.info wallet sucks ass for just that reason, though I forget what they're charging for a fee.

Well I edited the post and added words "on daily basis" so let's say you pay all your bills and you get all your income in BTC - how much do you think the fee should be?

I posted as absolute maximum $1 - I don't think there are many items out there that are $5 in value and need confirmation within 10 minutes, maybe I can wait for this to confirm for an hour...

[megynacuna]

Nothing more than 0.01 BTC; people should stop the monetization of Bitcoin transactions because the enticing factor that drew some of us into Bitcoin is the low transaction fees but it seems the trend is Changing and its worrying.

[ArdiPrabowo]

iam use sending fee 60k satoshi/1Mb, ussualy very fast confirmation my transaction
but if sending low bitoin iam use low too if sending fee

[X-ray]

I was voting for 0.001 because to prevent my transaction had become deprioritized in the bitcoin network and can get stuck everytime.  and i put a lot of the fees to prevent it and it's make me feeling convenience for my transaction will be running for fast.

[BossMacko]

Well for me i don't care about the price even i pay 10% of the amount that i will send to someone as long as it is fast so that the person who will going to receive the money will get satisfy for my fast service.

[Doms]

I can do money transfers using my online banking account for free and in an instant for as long as they are within the same bank. But this will soon change as my bank has a new policy where they would start charging even bank to bank online fund transfers. With bitcoin, anything that doesn’t cost over a dollar for transactions below $100 for me is fair, just as long as the transaction speed is almost instant or faster than they currently are. Fees should also be bracketed according to amounts to be transferred, but shouldn’t be too high so as not to turn off potential users who would otherwise just use the money transfer services elsewhere.

[Strongkored]

I do not think it is difficult to pay high fee if the amount that we will also send a large, and also based on the level of importance as well if that transaction was very important to get immediate confirmation so the solution had to pay a high or normal fee, but if the transaction can wait or not so important then the lower fee is not a problem, use wallet that we can adjust the fee will more helpful.

[w00t]

I can do money transfers using my online banking account for free and in an instant for as long as they are within the same bank. But this will soon change as my bank has a new policy where they would start charging even bank to bank online fund transfers. With bitcoin, anything that doesn’t cost over a dollar for transactions below $100 for me is fair, just as long as the transaction speed is almost instant or faster than they currently are. Fees should also be bracketed according to amounts to be transferred, but shouldn’t be too high so as not to turn off potential users who would otherwise just use the money transfer services elsewhere.

Yes that's exactly what I thought - it should be under $1 once you get over it most people would probably reject it straightaway.

[RoommateAgreement]

using fiat is free, at least in my country with our banking system it is. if i want to tranfer money from one bank to another i can do it for free with no fee. if i want to do it from my card it will cost me a fixed fee of about $0.1

with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.

[noictib]

This poll came as an idea from a news post: Almost $1 Billion Worth of Bitcoins Stuck in Transaction Backlog - link here: https://bitcointalk.org/index.php?topic=1777803.0

How much are you willing to pay on daily basis in fees for a Bitcoin transaction that is cleared within 10 minutes? (1 block)

I hid the poll results until you voted so it's not biased - I'm really curious about this one - I ruled out "free" as I don't think it's possible anymore - no matter how big the block size is. Also I don't think anyone is willing to accept fees over $10 - it will be more expensive than the bank fees, so I made it 10+ USD.

Please vote and explain below why you voted the way you voted.

Thank you.

In my opinion the amount of transactions should be 0.01$ ( I mean it should be fix ).
Here I am saying it because we are seeing that day by day problem of unconfirmed transaction coming more . But we should take idea in our mind that the number of transactions taking place in bitcoin networks is about unlimited and very hard to calculate the accurate number of transaction .
So here bitcoin transaction system making unlimited money .
So here the transaction charge should be vary from .001$ to 1$ according to the amount of bitcoin transaction .
But here the problem of transactions should somewhat needed to modify because 2 days before I faced a big problem of  Transaction of 0.012 btc with 0.0009btc transaction. charge which is not less .

[mkmdoc]

I am ready to pay 1 USD on my bitcoin transaction, every day i am doing many transaction with bitcoin so it might not be a problem to me, even i will more because it is giving more profit, so it is not a problem for even 2 to 3 usd per transaction.

[w00t]

using fiat is free, at least in my country with our banking system it is. if i want to tranfer money from one bank to another i can do it for free with no fee. if i want to do it from my card it will cost me a fixed fee of about $0.1

with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.

Yes that's what i thought - the "typical" rate should be between $0.01 - $0.1 while the $1 should be really as a very maximum.

[Amph]

it doesn't make sense to have a not fixed fee because the miners will earn more as bitcoin will be higher in value, the old 10k satoshi as average was fine

paying more means that in the future when bitcoin will be higher you will going to pay a fortune just to send a low amount of money

actually the more bitcoin go high the less(in satoshi) the fee should be

[Sundark]

It depends on how much the transaction is for.  I'm OK with giving $1.00 if what I'm sending is a few hundred dollars.  If it's something like signature campaign earnings, I'd be willing to pay a few cents at most.  Maybe a dime or so.  I like wallets that let you adjust the fees.  The blockchain.info wallet sucks ass for just that reason, though I forget what they're charging for a fee.

Too bad blockchain doesn't work like that and we can't have fees based of amount of money we are sending.
But I agree with this idea, seems reasonable, I was bothered many times when I was sending ~$10 transaction with half dollar fee.
Just because there were 2 outputs more than usual. I think fees should be variable and depend on bitcoin price - higher bitcoin price - lower the fees.

[NeuroticFish]

using fiat is free, at least in my country with our banking system it is. if i want to tranfer money from one bank to another i can do it for free with no fee. if i want to do it from my card it will cost me a fixed fee of about $0.1

with that said, if i want to treat bitcoin as a currency i wouldn't want to pay anything more than 0.01-0.1 dollar for transactions.

Yes that's what i thought - the "typical" rate should be between $0.01 - $0.1 while the $1 should be really as a very maximum.

Actually banks also have the fees based on the amounts transferred. Over 2k EUR (I think it's 2k, but I am not 100% certain of the amount) the fee is bigger.
However, back to the question: since the only cases until now I needed transactions to actually happen fast were when I bought something with Bitcoin (2 cases until now), even (slightly) over 1$ is acceptable for me, since the transfer rate from Bitcoin to my local currency is awful anyway, so I know I lose some money there.
So maybe a maximum of 2$ is "okay", but clearly not more than that.

Also keep in mind that if the fee rises, some will just decide to postpone transactions or put them together to optimize the fees.

[Dudeperfect]

To be honest for me it depends on the emergency of the transaction if I am in a position where I can postpone the transaction after such ''unconfirmed transactions' scene then I would not pay any fee at all during that period and will do the transaction when things will get back to normal. However, I would pay fee up to $5 in the case of urgency.

[ImHash]

Nothing-zero why would I want to pay anything since miners are getting 12.5BTC already by doing the works required to transact? let them not include your tx and this slowly will result in distrust of the network.
I think the protocol has a flaw where it allows miners to decide which tx to pick disregarding the legitimacy of the transaction whether it's a spam or an honest one which they could determine by considering the amount of transaction and not the size.
Meaning miners should be able to charge higher fees for transactions with bigger amounts.
Problem is in the system where it only checks the size of the data and doesn't care if it's actually money and if it is how much.

[Reid]

I am willing to pay a dollar  . I dont do big volumes of bitcoins but 1 USD is all I can provide. I would rather wait than almost all my profit will be turned. Maybe if I will be transacting large amounts then I will be willing to pay above that considering they will do it faster.