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Author Topic: small fee makes transactions faster  (Read 4905 times)
timerland
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April 18, 2017, 04:29:06 PM
 #101

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.
You have mistaken, the fee that you put up on your transactions determines how fast your  bitcoins will get confirmed.
It is because the "mining fee" is a reward for people, who are confirming your transactions, obviously not for free.
You can get confirmations even very quick, but you need to spend some money for that, because last months, the commision for miners is pretty high.

For example, you may put up 0.002 fee on 0.3 transaction ( one input ), which will result that the money sent by you are going to be confirmed very fast.
I recommend you using https://bitcoinfees.21.co/ website.

 
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aardvark15
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April 18, 2017, 04:42:47 PM
 #102

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.

 
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andrei56
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April 22, 2017, 08:38:50 PM
Last edit: April 28, 2017, 02:15:37 AM by andrei56
 #103

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.
It was hyperbole, but I get your point, if we don’t have any rush for our transaction to be confirmed by the miners then we can add a minimum fee and be happy when it goes through but if wee want fast confirmation because we need the money to arrive at its destination as fast as possible then a good fee is necessary for that.
JasonXG
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April 23, 2017, 09:44:38 PM
 #104

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?

*facepalm*Is this real ? I feel bad even replying. Why are you saying things like this ?You are almost a full member and you say things like this ? What you are saying is the same as saying that if I put more fuel in my car i will go further because its lighter....

Much logic.
Harry Callahan
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April 23, 2017, 10:18:15 PM
 #105

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.
The fees are getting larger without any doubt and with the increase in fees micro transactions are not possible with bitcoin and if the trend continues like this there will be a time when the transactions fees will be so huge that it will drive people away from bitcoin and you need to have a solution to counter the problem.
Janation
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April 23, 2017, 11:18:53 PM
 #106

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.
The fees are getting larger without any doubt and with the increase in fees micro transactions are not possible with bitcoin and if the trend continues like this there will be a time when the transactions fees will be so huge that it will drive people away from bitcoin and you need to have a solution to counter the problem.

More people are now using bitcoin, and with that many transactions are made everyday. As we all know the price are really high and small amount transactions are inevitable. But it always make a traffic in the network, so it is better to send a bitcoin with multiple receivers so the traffic can be minimized. I think it is goid if we can avoid transacting small amounts.

BitFinnese
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April 23, 2017, 11:31:32 PM
 #107

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.

Well it is true that there is no fee that makes the transaction faster, it is fast as it is but the problem is the confirmation time.  You know, people who make transaction, "bid" so that miners will pick their transaction first to be confirmed.  Now there is where fee comes in.  Higher fee will  attract miners to accept your transaction to be included on the mined block.

Maybe it depend in what bitcoin wallet you are using and there system the transaction depend on them when it connect in blockchain.

Definitely this is wrong.


Taking an hour receiving transactions are just normal so better just be patient.

And an hour of receiving transaction is not normal, transaction is instant and even confirmation should not go beyond an hour to be confirmed.
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April 23, 2017, 11:56:49 PM
 #108

It also seems that if your Bitcoin address has several deposits, it takes a higher fees to cosolidate and send to another address. There are apparently a few reasons why fees can be larger. Regardless, the fees aren't huge yet, but they seem to be getting bigger.
The fees are getting larger without any doubt and with the increase in fees micro transactions are not possible with bitcoin and if the trend continues like this there will be a time when the transactions fees will be so huge that it will drive people away from bitcoin and you need to have a solution to counter the problem.

Yes, if fees go high and higher than for smaller transactions people may find some other potential alt-coins because there is no meaning in providing such a high prices for smaller amounts. But if you're sending big amounts then still current fees are not that high. Bitcoins are no more suitable for micro transactions.
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