small fee makes transactions faster

[Vivace92]

the existence of the bitcoin makes things unpredictable, originally I assume same bitcoin with paypal or payment processor. that makes me amazed is the speed of the transaction, then it is accepted throughout the world.

[DoublerHunter]

the existence of the bitcoin makes things unpredictable, originally I assume same bitcoin with paypal or payment processor. that makes me amazed is the speed of the transaction, then it is accepted throughout the world.

To be honest, bitcoin is not yet accepted throughout the world because there is still a few countries that doesn't accept bitcoin and some of them banned bitcoin from their country because of security and trust issues about bitcoin. The transaction of bitcoin as of now, is being slow because of the unsustainable network that caused by the big volume of users. And somehow you need to pay higher fees to make your transaction faster but it is still better than paypal because it doesn't support chargeback.

[PhucS]

why bitcoin transfer fee when most people give it in large quantities, but it will slow down the transaction itself, rather than using a bitcoin transfer fee sathosi 1000 it could be?

What is your opinion with bitcoin transfer with a large fee?

Currently, Bitcoin is developing, its value is rising. Its popularity has also widened, more people are aware of Bitcoin and have used it. Pulling in that, the number of Bitcoin transactions daily also increased very fast and much, which makes the transaction speed of the blocks slow. If the fee transaction is expensive, the rate will be faster and if the charge is low or there is no charge it will take a long time to complete a transaction. If you set a transaction fee of you is 1000sts I think that all your transactions will have to wait a long time to complete. You should set a higher charge, your transaction speed would be improved and you would not have to wait for it long

[naughty1]

No, this is completely paradoxical. For bitcoin and many other currencies, we make bitcoin deals and we pay a small fee for it, and depending on the fees we charge The speed of the transaction will change. And of course, if you want to make transactions happen quickly, you should make a reasonable fee, and keep in mind that the higher the fee, the faster the speed, which is certainly, than what you say. It is paradoxical.

[virasog]

the existence of the bitcoin makes things unpredictable, originally I assume same bitcoin with paypal or payment processor. that makes me amazed is the speed of the transaction, then it is accepted throughout the world.

To be honest, bitcoin is not yet accepted throughout the world because there is still a few countries that doesn't accept bitcoin and some of them banned bitcoin from their country because of security and trust issues about bitcoin. The transaction of bitcoin as of now, is being slow because of the unsustainable network that caused by the big volume of users. And somehow you need to pay higher fees to make your transaction faster but it is still better than paypal because it doesn't support chargeback.

I agree with you, bitcoin is not yet accepted by some other countries, maybe we can see that every country there were users of bitcoin yet not yet accepted by their country and some banned it. But this has nothing to do with transaction fee or transaction speed.  If you compare bitcoin with paypal, Bitcoin is far far better as compared to paypal in terms of fee and  speed.

[Yuuto]

I don't think so why did you say that. How small fee makes transaction faster. You know if you put high priority fee the transaction made faster, even you put a large amount of btc but if you put a large amount then you choose a low-priority to only spend small fee the confirmation will take some time. So, for me, small fee doesn't matter.

Exactly, it is the same with everything.
The bigger bounty you give for completing some task, the bigger chance you have that someone will do it faster.
Same thing is about mining, miners have priorities of the transaction with the highest fee ( as a reward ), so they confirm the biggest fees transaction at the first place.
That is the reason why you may wait even for a week if you put up really small fee, because no one will want to confirm it because of the small bounty for miners.

I always prefer to put up higher fees just to have sure that my transaction will be confirmed pretty quick.

[AngelSky]

No, this is completely paradoxical. For bitcoin and many other currencies, we make bitcoin deals and we pay a small fee for it, and depending on the fees we charge The speed of the transaction will change. And of course, if you want to make transactions happen quickly, you should make a reasonable fee, and keep in mind that the higher the fee, the faster the speed, which is certainly, than what you say. It is paradoxical.

i don't think you need not to change the default fees settings in your wallets. Normally default setting fees would be 0.0004 to 0.0005 btc for a single transaction and it will get confirmed within 30 to 40 minutes.
therefore, use the above mentioned fees while your doing little transactions and if you wish to get transacted lesser than these time you could for high fees.

[Tyrantt]

I don't think so why did you say that. How small fee makes transaction faster. You know if you put high priority fee the transaction made faster, even you put a large amount of btc but if you put a large amount then you choose a low-priority to only spend small fee the confirmation will take some time. So, for me, small fee doesn't matter.

Well it doesn't matter that much in that sense but if you look at it this way: If I were to buy a coffee at some coffee place and usually the cost is around 80rsd, thats about 0.7$ and if I were to pay with blockchain with a standard fee that they take I'd be paying 30% and I don't think thats that good for the bitcoin, that's why there should be some lower fees for that kind of transactions.

[Xester]

No, this is completely paradoxical. For bitcoin and many other currencies, we make bitcoin deals and we pay a small fee for it, and depending on the fees we charge The speed of the transaction will change. And of course, if you want to make transactions happen quickly, you should make a reasonable fee, and keep in mind that the higher the fee, the faster the speed, which is certainly, than what you say. It is paradoxical.

Using common sense miner fees are like the bidding for an item. The one who will have the highest bid will receive the item and so in terms of bitcoin transaction the one with the highest fee will receive the highest priority and will be the first one to be catered. Even in bitcoin industry there are the so called VIP and we cannot deny it since bitcoin means business and in business there are always fees.

[andrei56]

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

[Yakamoto]

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

Even with what people would call a "large" transaction fee (running somewhere close to about $0.90CAD or what would be about $0.80USD) it's not a bad fee if you want something to get somewhere quickly. Sure, it isn't a good fee and it is kind of expensive compared to other payment mediums, but considering it is still under $1 I don't think that's terrible for the convenience of speed. It would be nice if we could have the same speed and have it lower, but that won't happen till the blocks are fixed, however they may be.

[jak3]

nowadays every block of hashes (where transactions are being stored and being delivered to a random miner for verification) , every blocks size is atleast 2mb which is huge when transaction something from one side of the world to another side. Transaction fees matters mostly but if we do bulk transactions (multiple sending at once with a bigger fees) then i guess we can get faster transactions easily

[Spiranca]

when i use small fee i need to wait 2-3 days for Transaction confirmed and i hate that :v !

[virtualkeybuyer]

It is the the situation of competition or we can say the demand as people often pay high fees because they want to be first to be confirmed they want to be in the first in the line for confirmation while those who pay low fees are far below from other for confirmation.

[pokerplayer]

I think that you writed wrong I think that when fee is bigger than then you will get your money faster in your bitcoin wallet so less fee slowlier transaction and bigger fee transaction is faster.

[youdacapt]

I think that you writed wrong I think that when fee is bigger than then you will get your money faster in your bitcoin wallet so less fee slowlier transaction and bigger fee transaction is faster.

Fee bit more feasible to make the transaction faster, but my opinion on this is wrong, because all transactions are processed with the same treatment even though there is a priority for some transactions. If MemPool flood, then the fee will have no effect at all, so that any fees will not affect anything when MemPool full.

[Lagduf]

used 0.0001 fee a couple of days ago and it took quite a while, but it went through eventually, confirmed the next day (don't know exactly how many hours, but I had made payment the day before morning, and was confirmed the next morning). Very cheap in my opinion.
But as from now one will use mainly 0.001, don't mind paying up to a buck per transaction if it goes faster, although still haven't measured the speed compared to the smaller fee

Using that small of a fee will make your transaction to take forever to get confirmed, but if that is what you can afford or if you refuse to get on the train of the ever raising fees that the miners seems to want to put us through then good for you.

not forever but few days, or the network will reject it for you and give you chance to increase the fee, bitcoin is now expensive.

[Nomad88]

I have been sporting bitcoin ever since I met with it for the first time. But now, I have to admit that I use ETH more for daily use in order to pay less transaction fee.

[Sarah08]

For me no fee doesnt make the transaction faster or reverse i think it just take time making a confirmation in the transactions.
Maybe it depend in what bitcoin wallet you are using and there system the transaction depend on them when it connect in blockchain.
Taking an hour receiving transactions are just normal so better just be patient.

[CyberKuro]

why bitcoin transfer fee when most people give it in large quantities, but it will slow down the transaction itself, rather than using a bitcoin transfer fee sathosi 1000 it could be?

What is your opinion with bitcoin transfer with a large fee?

Apart from the fact that your sentences are almost unreadable.

The higher the bitcoin fees, the higher the chance of it getting confirmed in the shortest period of time

Transaction relay among nodes is a different factor from getting a transaction mined in a block.

not to increase the fee it will only burden the block in transporting transaction for a fee greater then the amount of the transaction size is also large, which should be with a small fee each block that could bring the 2000 transaction, but because of the number of fee-large will reduce the number of people who will carry out the transaction / uncofirmed

Transaction fee and confirmed tx are clear matter. Your opinion only works if all of the people who sending bitcoin agreed to use small amount of fee, but it won't be happen as people want their transaction get confirmed as fast as possible.
Yes, small byte fee may not burden the block but a fee calculate based on total size of a transaction, miner will choose to process some transaction which has bigger fees obviously.