Is bitcoin transaction fees fair?

[Hobo66]

I would say the bitcoin transaction fees are high, in some
bitcoin online bank the fees or 0.0009btc goes up to 0.001btc as well.
the lowest fees I pay is by using the bitconnect online wallet at 0.0004btc per transaction.

[Dudeperfect]

I must admit that I have paid huge fees for some of my transactions and it was painful but as we know that even after 7 years, Bitcoin is still in the development phase and may take some more time to get that stability. The prime USP of using Bitcoin is the lowest fees as compared to that of traditional fiat infrastructure but sometimes when the network gets overloaded, there is nothing that we can do other than paying high fees.

[nikola22]

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

[Matthewmorris4]

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

That's why some member/people here always advice to investment bitcoin, the price of bitcoin day by day is always increase, so I think it is worth the amount of bitcoin that we withdraw
If you want low fees transaction, then just use doge or ltc, but before that you also need to calculate the result after you change your bitcoin into altcoin between those exchange

[8Habits]

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

That's why some member/people here always advice to investment bitcoin, the price of bitcoin day by day is always increase, so I think it is worth the amount of bitcoin that we withdraw
If you want low fees transaction, then just use doge or ltc, but before that you also need to calculate the result after you change your bitcoin into altcoin between those exchange

Just a little tip though, avoid executing unnecessary bitcoin transactions to avoid the transaction fees - if you can use fiat money in your little purchases, use it and just hold bitcoin because its amount is going up while fiat money value is always going down due to inflation.

[sparveenat]

The only thing with bitcoin has to consider is the transaction fees I personally feel it is not fair. May be for bulk bitcoin exchangers doesn't mind about it so there is no any solution has been found in it to resolve this transaction fee issue. Hope in future this issue can be addressed.

[hangar18]

Use low fee exchanges - there's your answer! If exchanges didn't charge anything, there would be little reason for them to exist. Every business needs to be profitable.

but comissions must be fair enough. many people can't afford to pay 100k satoshi per transaction.

That's why some member/people here always advice to investment bitcoin, the price of bitcoin day by day is always increase, so I think it is worth the amount of bitcoin that we withdraw
If you want low fees transaction, then just use doge or ltc, but before that you also need to calculate the result after you change your bitcoin into altcoin between those exchange

If you want to transfer to other altcoin to help you reduce the fees for your transaction, you also must to use altcoin for all times after transfer. The exchange fees ~0.15-0.25% / time exchange, do you think it is lower than the transaction fee you spend in Bitcoin?

[aarons6]

to all the newbies saying the fee is just and fair.. how you liking the fee now?

Optimal Fee / Kb    Low Priority Fee / Kb
0.00445019 BTC        0.00372697 BTC


thats almost 70$ a KB to move bitcoin :/

[Naoko]

not only fees, but also the length of transactions make me upset...it doesn't allow me to move further (

[bryant.coleman]

I checked the last block (#498393) which was mined and the minimum fee which was required for inclusion within that block was 139.752 sat/B. So if my transaction size is 1 KB, then I need to pay a transaction fee of around $24. This is beyond ridiculous, given the fact that the average transaction value is only around $100.

[NJB18]

Small bitcoin transactions aren't really worth it. I better use another altcoin for that. High volume transactions are still worth it though compared to centralized banks.

[jilani]

Bitcoin transaction fee is very crazy.Today i send 470$ in my bittrex account but it's really disappointed thing transaction fee is 15.55$
I think fee is should be reduced & need stable transaction fee.After that BTC user will be satisfied.

[Ultegra134]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

Well, we did want a higher price, so we're basically "paying" the price of a higher value. Bitcoin's usage is way too high at the moment by all of us, old and new users, flocking the  Blockchain with our transactions, higher demand, higher fees. Might not be profitable to conduct transactions on a regular basis but that's the price of a higher value, unfortunately.

[imoet]

I think the fees is fair enough..because the price of bitcoin still higher and higher..so the transaction fees become higher too. The miners should get their own share. The price that become is normal because we can not predict the bitcoin price. Some people remain agree with the higher fees but some people dislike it.

[icanscript]

Of course miners need to work, but understanding the cost of .transactions in a phi-equivalent, network users try to reduce the number of payments in bitcoin.
A high price, it will limit the number of transactions, regulate everything with supply and demand.

[aarons6]

Of course miners need to work, but understanding the cost of .transactions in a phi-equivalent, network users try to reduce the number of payments in bitcoin.
A high price, it will limit the number of transactions, regulate everything with supply and demand.

the "miners" get the 12.5 btc block reward.. the fees usually go to the pools..

also, the way things are going to get regulated by supply and demand is everyone is going to turn away from bitcoin..

these fees and the long wait for confirmations is going to be the death of bitcoin.. i myself have stopped spending bitcoin.. it costs too much to move..
if you noticed litecoin is at a all time high.. this is because it doesnt cost anything to move.. so people are using it.

[shairblogger]

The big problem i am facing since last couple of months as well because i am the one who use to transfer small amount of bitcoins and paying large fee for those causing us loss.I think the ones having large amount of bitcoins paying large fee to prioritize their transactions and hence slowly this standard fee is increasing day by day.

[pikebu]

Small bitcoin transactions aren't really worth it. I better use another altcoin for that. High volume transactions are still worth it though compared to centralized banks.

Yep it is better solution for right now at least there are choice to avoid the high fees transaction of bitcoin, although doesn't mean we can make avoid all of the transaction fees on cryptos coins, the high fees transaction is one of the big problem in bitcoin, it have made the bitcoin to be difficult to be addopted as currency because small amount of transaction in bitcoin is not worth, but in couples years later should be this problem can be fixed by the developers or another solution for it.

[dmamigo]

Considering it with fiat valuation, totally unfair in certain times. But no one can help, as the price rises it will rise and it will be more unfair.
I transact using alts usually and if I receive in Bitcoins I don't mind it to use for transaction.

[akiraminai]

This is fair I think. When bitcoin's rate increased, the demand for bitcoin also rises. So if bitcoin goes high in demand, it will probably cause higher fees regarding bitcoin. Some people will take this as an advantage.