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

[Taki]

The exchanger that I use for cashing out my bitcoins takes 3% for it's servises and I think it's just not fair. I noticed that they rised their fees from the last time when I used that site, the fee was 2%. But in the case if you cash out big amount of money the fee turns really big and I don't like it. The last time I have paid like 6$ for cashing out my money. I think the sum of transaction fees has to be fixed.

[gabmen]

i think 0.1 is not bad already in fees considering that it would still be better and faster than the service charges used by western union and the likes. and i think these service charges are also important for the continuity of bitcoin as not everything that is free will last that long

[Aamir1]

I have selected 0.01 USD but i can also pay 0.1 USD without any hesitation because i don't do transactions everyday. I do it maybe once in a week or once in a month because i mostly spend my bitcoins on filling my mobile or trading them for cash sometimes if i need cash, other then that i don't send bitcoins anywhere.

[South Park]

I voted for the price of a sms the 0.1 USD fee, since I think that is fair transaction fee especially if I send a transaction of a few tens or hundreds dollars, obviously I would like the transaction to be even cheaper but I think that is a fair price.

[Kevin77]

I wont pay any big value to make my transaction to boost i do pay the general fee that will get my transaction confirmed into the next 6 blocks, i do trade small values soo makes no sense to  raise my fee just to speed the transaction, something i can wait a bit.

Yeah, I too don’t want to pay a lot of fees on the transaction, because the way I see it bitcoin was meant to let us be free and get away from taxes and government control and paying fees makes me rethink that, so why bother using bitcoin if you are going to pay taxes, you are better off using real money.

Hopefully we are going to have a new era with bitcoins prices around $2000 and tx fees around 10k satoshi, then it woudl be really worth using bitcoin payment system instead of any others.

[calkob]

I do move my bitcoin about far less these days due to fees, back when it was $0.01 i would move my paper wallets at least every couple months but now i just keep it where it is,   i would be willing to pay up to $0.50 at the minute to move it all if i felt i had to .

[michkima]

I do move my bitcoin about far less these days due to fees, back when it was $0.01 i would move my paper wallets at least every couple months but now i just keep it where it is,   i would be willing to pay up to $0.50 at the minute to move it all if i felt i had to .

Well, if you're moving small amounts of bitcoin then $0.50 would really be a hard trade off, but if it is worth more than $50 then a 1% fee would be just okay. More than 1% is quite unreasonable already as we always have to pay more fees when moving it or cashing out the bitcoins and that sucks. The lesser fees the better, but if it is necessary what can we do.

[Xester]

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.

I am willing to pay twenty thousand satoshi or 0.0002 bitcoins. But in reality I am paying fifty thousand satoshi or 0.0005 btc when I transfer my bitcoins. I would wish that they would just reduce it to 20k satoshi so we would not end up losing our bitcoins from just transferring it. It is becoming like the banks surcharges and it is a pain in our pocket.

[jakelyson]

I am willing to pay at least 1% of the total amount involved. I think it should be that way so that sending money thru bitcoin will always be cheaper than using other services like money transfer or western union.

Unfortunately, bitcoin fees are based on bytes not on amount. So my 1% on amount will not be practical to be used as base for good transaction fees.

Even if would have somehow that 1% fee rate deducted from total amount sent, it would be only feasible solution for small transaction.
Sending large sum of money would be pain in the ass. Bitcoin would be no different that standard payment processors and remittance solutions.
Bitcoin was never planned as a payment method best suited for microtransactions, small flat fees is what we need.

I just want the fee to be way smaller than what we normally pay on money transfers. Even if we send large amount, it will still be cheaper than sending it on wire transfers. Flat fees is a good idea but I think we will have a hard time finding the right amount that will fit small and large transactions.

[cakravothy]

I would like to see bitcoin fees of $0.01. You would want bitcoin to compete with local banks in money transfer.
Transferring fiat within the country is usually free. You don't want bitcoins to get priced out.

you use sending fee only 0.01 dollar how much size youre sending bitcoin and how much youre sending bitcoin
if size big and you only use sending fee 0.01 dollar , i think youre transaction if never confirmation

[aardvark15]

I think it should stay low so people are not discouraged from making Bitcoin transactions. The problem is that miners need to get paid. Small transactions are not worth it if the fees are too high.

[gentlemand]

I think it should stay low so people are not discouraged from making Bitcoin transactions. The problem is that miners need to get paid. Small transactions are not worth it if the fees are too high.

The block reward pays them plenty. Its up to the users to decide whether they want to carry on once the reward is borderline negligible. I have a feeling they won't be too keen if each transaction is ten dollars plus.

At a certain point someone's going to bail, either the serious miners because it's no longer worth their while or the users who go off in search of something cheaper and less crippled.

And as is often pointed out more nimble miners will take their place, but if the users are gone they'll probably stay gone.

[Nathan047]

I'll pay 0.1$ before I call it enough. I can send 25 texts for that price, and to transfer money through Paypal or my bank is free. At some point high fees would also probably hurt mass adoption.

[ethereumhunter]

i think i am willing to pay the fees like under 0.001 maybe 0.0005btc-0.0009btc but if the transaction is more than 1 bitcoin, i think its fine if we pay the fee more than 0.001 because is still small bitcoin amount depending from 1 bitcoin.

but if we make a transaction for more than 3 times, then i think its fine too if the fee is about 0.0005btc or more so we should thinking before we want to spend our bitcoin.

[asriloni]

based on the https://blockchain.info/unconfirmed-transactions and I probably will pay higher amount for my transaction if the unconfirmed transaction already over 50 k transaction and which mean the price of reliable fees is increase. and to avoid my transaction just get keep on the unpriority transaction. I always pay 0.001 for my transaction.

[valta4065]

When you think about it even 0.1$ isn't nothing...
I know btc allows to send huge amount of money from everywhere, and that's great.
But it's still a shame that we can't use it as a daily payment means...
And you can't when you have nearly 0.3$ fees!

[OROBTC]

...

For me it all depends.  Since most of my transactions are "important", and most ought to be done in a timely manner, I am willing to pay up to BTC0.0006 - BTC0.001 when the blockchain is clogged or I have a complicated transaction.

When conditions were "normal", I usually paid BTC0.00015 or a bit more to get transactions confirmed quickly.

It's the price of doing business.

[pooya87]

i think it mostly depends on what your transaction is for.

for example if i am just a whale investor and are holding 50+ bitcoin and trade it making profit i don't care if fee is $0.01 or $10 and i believe it is mostly what happens.

but if i want to use bitcoin as payment, lets say to buy a cup of coffee ($5) or pay for an online service then i don't want to pay more than $0.1 and the lower the better. these small fees add up to be big, and i can already use my debit card (fiat) for free when buying stuff why would i do it with bitcoin if it costs me a lot?!

[rajasumi3]

I am willing to pay what is being said or recommmended as per my bitcoin wallet .why should i pay less if the transaction doesnt get s confirmed at all .i would pay a normal miner fee to make it succesful quickly.

[Victorycoin]

For me it depends on the amount of bitcoins I will transact if it is a high amount like more than 0.02 then I will not care for the amount of fees and  will prefer for 0.0004 or more as are suggestible by blockchain automatically but if it is smaller amount for recharging my mobile then I will like to use xapo without fees transaction.

You might want to know that as from 15th of February, 2017 transaction for amounts less than 0.00030942 BTC, would start to attract some fee.

These days, I have had to pay as much as 0.0005BTC as normal fee to have my transaction processed without much delay and they actually got processed in no time. However am concerned this preferential treat would do Bitcoin more harm than good as it might escalate to the highest bidders taking over the network.