Idea to avoid high fee

[dfd1]

This is exactly what litecoin was made for back in 2011, actually.

[naughty1]

This is a good idea; however, it is not entirely convenient, because we still lose a small fee when exchanging currencies, and it can cost us a lot of time and effort. To perform many different transactions. I support this idea, but we need to take a different approach, we need something more convenient and faster, a technology that integrates everything and works steadily. It would be very difficult, but it is possible.

[ShowOff]

in my experience i only use 1 address only even in blockchain the address always change. so the input will not much and it not takes high fee to send a transaction

[Kevin77]

A lot of people complain about increasing transaction fee of bitcoin and some even consider to postpone their transaction to avoid these fees.
What about we always convert btc to some other Altcoin before sending and recipient can convert it back to btc as per is convenience?
We can do it for smaller amount of transactions as paying high fee for them is not feasible.
This will also reduce the network congestion to some large extent as most of these transactions are usually of smaller amount.
What is your opinion?

You are indirectly suggesting to use exchanges as wallets. Otherwise converting altcoins into bitcoins will be again a head ache as we might be needing them send back to our personal wallets by paying higher tx fees. I foresee your idea will be viable only when we are using an exchange services as our wallets. After accumulating significant balances in bitcoins in exchanges, we could send them back to our desktop wallet.

This way, I believe dogecoins would be the right choice to be used as transaction carriers as they just need 1 dogecoin as tx fees which is equivalent to merely 20 satoshi (5000 times lesser fee per 1kb).

[Iranus]

A lot of people complain about increasing transaction fee of bitcoin and some even consider to postpone their transaction to avoid these fees.
What about we always convert btc to some other Altcoin before sending and recipient can convert it back to btc as per is convenience?
We can do it for smaller amount of transactions as paying high fee for them is not feasible.
This will also reduce the network congestion to some large extent as most of these transactions are usually of smaller amount.
What is your opinion?

Some other altcoin?Which altcoin do you suggest?
This will pump the price of that altcoin and the altcoin`s transaction fees might also increase.
Anyway,the bitcoin price might go down soon and this will decrease the transaction fees for btc payments.

Not any particular Altcoin.Leave it to sender and receipient.Let them decide which Alt they prefer.
This will avoid any quick pump.
Bitcoin price can not always remain low so high transaction fee is inevitable.

It might be a bit more convenient but it's not really worth it.  You'd have to make the agreement with the specific recipient, put your Bitcoin into an altcoin exchange, exchange it for an altcoin and withdraw it to your recipient's wallet.  In most cases you'd have to pay to put your Bitcoin into the exchange anyway (although you could put in higher amounts and divide your transaction fees that way).

Still a lot of effort to go through for every transaction when you're only talking about ~$1 in fees in most cases.

[dothebeats]

If you are not okay with the fees then don't input any fee at all. You will still have your transaction confirmed however it might take days or weeks on end, though. If you feel that you are paying a large amount of money just for the fees, you can always convert to an alt then convert back to btc once you're don, however that would be a hassle.

[Catmony]

This is exactly what litecoin was made for back in 2011, actually.

But still there are not many web wallets for litecoin and i think that is one of the main factor for the very low userbase for litecoin compared to bitcoin.

For micro transactions bitcoin can still be useful if you include as much transactions as you can in one transaction.

[CyberKuro]

A lot of people complain about increasing transaction fee of bitcoin and some even consider to postpone their transaction to avoid these fees.
What about we always convert btc to some other Altcoin before sending and recipient can convert it back to btc as per is convenience?
We can do it for smaller amount of transactions as paying high fee for them is not feasible.
This will also reduce the network congestion to some large extent as most of these transactions are usually of smaller amount.
What is your opinion?

Well that is convenient but there is another trouble that will come along. If you convert your bitcoin into altcoins then you send it to a recipient then the receiver will actually complain. The reason is when he will convert the altcoins back to bitcoins he or she will pay the transaction fee and lets add to that the withdrawal fee of 50k satoshi. Thats rude and it just eats more of your bitcoin rather than saving it. Hence I do not see your suggestion feasible due to this flaws.

This is a good idea though to avoid high fees which some already doing it for a long time since bitcoin fee increase over time as transaction grow up bigger too. However, this way only effective if both sides agreed to use an altcoin of course, and there are some options whether wallet or exchanges which supports this feature to convert bitcoin into altcoins, but I do agree for small amount of transaction using bitcoin still convenient.

[DeanJVR]

There is a way to transfer any crypto cyrrency to someone else without paying anything and bypass the blockchain all together.
I have address 1/ wallet with 10 BTC or 5 or 1 BTC in it (you can move amounts to get to a amount that is exacly what you want to send to someone else)
For example Say I have 11 BTC's in a wallet or address and I only want to pay my brother 10 BTC for his car I transfer 1 BTC to another wallet or address I own send or give him the address or wallet with the 10 BTC's in with the password so he becomes the new owner of the wallet or address. The actual 10 BTCs never moved anywhere the only thing that changed is the ownership of the 10 BTCs.
With alot of brainstorming by core developers the BTC ecosystem can change completely. Emagine all 21 million BTC has been mined and spread all over the world (decentralised as one big pool) If they were all broken up in sets of 100's 50's 20's 10's 5's 1's 0.01's etc BTC's So if I own (like money) 1 set of 10's BTC and 2 sets of 1's I can store it in a address of 12BTC and give you the whole wallet/address with passwords etc and you do whatever you want with that wallet (1st thing is to change the password. I can give ownership over physycally too in return for your TV etc. Need alot of brain storming though.

[giveen]

Come on man you are complaining because the fees is what 0.5$ per transactions. All these years if you see other payment processors like paypal,skrill , payza , etc have been charging 3-10% fees and no one complains about it much as we have no choice. Even though the bitcoin fees has increased it is still cheaper than other alternatives. And converting to altcoins also takes fees so it basically useless to convert.

[Mr.Nath]

The Value will definitely not be same again. One would lose some coins in the process.

[Kprawn]

You cannot solve the tx fee problem by using other Alt coins... that would just be stupid. No matter what you do, you would have to come back

to Bitcoin, and then all fees will be applicable again. This is like saying... use Xapo for all transactions and then balance it out by doing the final

transaction on the BTC Blockchain. We do not want Alt coins or 3rd party services to be the solution... we want Bitcoin to be the solution.  

[LTU_btc]

finally your idea would cost even more.
1. bitcoin transaction fee to send to exchange site or shapeshift for example.
2. exchange fee based on your volume to exchange bitcoin to that altcoin.
3. altcoin transaction fee. or did you think sending altcoin is free?
4. exchanging that altcoin back to bitcoin and paying another percentage exchange fee.
5. another bitcoin transaction fee to withdraw the exchanged bitcoin to your wallet.

This is exact reason why altcoins can't solve high fees problem. And it's very inconvenient way to send money which also requires additional time for confirmations of transactions.
 

Come on man you are complaining because the fees is what 0.5$ per transactions. All these years if you see other payment processors like paypal,skrill , payza , etc have been charging 3-10% fees and no one complains about it much as we have no choice. Even though the bitcoin fees has increased it is still cheaper than other alternatives. And converting to altcoins also takes fees so it basically useless to convert.

Well, cheap transactions was one of the main bitcoin advantages. Now, when transaction fees increased, I can send money cheaper via bank transfer than bitcoin. And it's not good for bitcoin development. People will remain to use banks, PayPal and other similar things and they wont try to search for alternatives.

[webtricks]

Ultimately you need to send Bitcoin to exchanges first in order to convert them in Altcoins. No difference!
Whereas, for receiver there will be a eagerness to convert his alts to btc as soon as possible. In this, eagerness he would be ready to sell them off at lower prices. As the result, receiver will loss gradually. Dumping will become widespread!

[Arcteryx]

Wouldn't sending these bitcoins you want to send out to a bitmixer site cause you not to pay out so much in transactions fees?
Or even a casino type wallet and spend some just to keep it active.
Just a suggestion of what I've have experienced in having to do so to avoid these upheaval of bitcoin transaction fees.

[btvGainer]

A lot of people complain about increasing transaction fee of bitcoin and some even consider to postpone their transaction to avoid these fees.
What about we always convert btc to some other Altcoin before sending and recipient can convert it back to btc as per is convenience?
We can do it for smaller amount of transactions as paying high fee for them is not feasible.
This will also reduce the network congestion to some large extent as most of these transactions are usually of smaller amount.
What is your opinion?

first of all spam attack has been over and fees aren't high anymore. good ol' bitcoin is back.
secondly if block size debate finally comes to an end and we no longer see spam attacks there is no need.

finally your idea would cost even more.
1. bitcoin transaction fee to send to exchange site or shapeshift for example.

This would be one time fee for those who frequently use btc to buy because they can send required amount to exchange once and after converting to Altcoin,can use Altcoin.

3. altcoin transaction fee. or did you think sending altcoin is free?

I know Altcoin sending also cost some fee but they are much lower than btc

5. another bitcoin transaction fee to withdraw the exchanged bitcoin to your wallet.

there one would have 2 option.Either convert Altcoin to fiat or keep Altcoin unless he need btc badly for storing but if hr needs it for sending or buying,he can also use Altcoin that he got from sender

[mobilestrike]

But that will take some more time for the transaction. For that you will also deal with the receiver to accept that and you will need to do the transaction from exchange to make it convenient and so people will not be able to show their payment in bitcoin in any currency and then there will be a lot of other complications start to occur. The better is that we go direct with the current fees.

[Dizaster2015]

But that will take some more time for the transaction. For that you will also deal with the receiver to accept that and you will need to do the transaction from exchange to make it convenient and so people will not be able to show their payment in bitcoin in any currency and then there will be a lot of other complications start to occur. The better is that we go direct with the current fees.

Some because of long transactions have long switched to altcoins. Nevertheless, this problem must be solved. It was very inconvenient to use bitcoin

[leopard2]

Jeez i can do an international wire cheaper than those stats Franky posted  

It is not surprising BTC price drops like a rock

It is very surprisign, however, that that money is not moving into the obvious alternatives: PPC and LTC.

Even PPC with its slight 1% yearly inflation would be alot cheaper to use than paying the massive fees to miners.  

[Wapinter]

There is a way to transfer any crypto cyrrency to someone else without paying anything and bypass the blockchain all together.
I have address 1/ wallet with 10 BTC or 5 or 1 BTC in it (you can move amounts to get to a amount that is exacly what you want to send to someone else)
For example Say I have 11 BTC's in a wallet or address and I only want to pay my brother 10 BTC for his car I transfer 1 BTC to another wallet or address I own send or give him the address or wallet with the 10 BTC's in with the password so he becomes the new owner of the wallet or address. The actual 10 BTCs never moved anywhere the only thing that changed is the ownership of the 10 BTCs.
With alot of brainstorming by core developers the BTC ecosystem can change completely. Emagine all 21 million BTC has been mined and spread all over the world (decentralised as one big pool) If they were all broken up in sets of 100's 50's 20's 10's 5's 1's 0.01's etc BTC's So if I own (like money) 1 set of 10's BTC and 2 sets of 1's I can store it in a address of 12BTC and give you the whole wallet/address with passwords etc and you do whatever you want with that wallet (1st thing is to change the password. I can give ownership over physycally too in return for your TV etc. Need alot of brain storming though.

If you mean 2 different addresses from same wallet,then the person having private key will own both address.If you mean two different wallets,then you still have to pay fee