Is bitcoin transaction fees fair?

[stompix]

If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.

There is no other choice. Some people may be having no issues in waiting 2-3 days until the payments get confirmed. But in most cases, the users will be quite desperate to move their funds and they will be forced to pay the high fees.

Sounds like the Brexit. We have taken our country back... but we're in such a deep shit right now we start to think it wasn't such a great idea:)

So we have finally shown the the middle fingers to those evil banksters and robbers at WU and we just found ourselves forced into submission by the mining cartel.

It's close to free compared to other payment methods/gateways

I've read that recently somewhere...oh there it is...

Yes, transaction fees of bitcoin is reasonable compared to other payment gateways.

Only if you go internationally.
In national transfers or SEPA banks still beat bitcoin at this moment.
Let's see after August 1st.

[8Habits]

Yes, transaction fees of bitcoin is reasonable compared to other payment gateways. It is one of the wonderful features from Bitcoin. Why still people are thinking like transaction fees are fair or not. Based on the amount, the transaction fees are varies, it's truth.

People are already having the convenience of using bitcoin and still, some are complaining about the bitcoin fee.. Just imagine how you can transact bitcoin in online transactions with ease and anonymity that alone is great value already and the fee is very little if we come to think of it.

[JimmieA]

I do not know if it is fair or not . But when all the transactions are wasted the same is really unreasonable. Every 1btc or 0.01btc transaction costs about $ 3, which is annoying to the user. And this, in my opinion, needs to be changed if btc is to become popular around the world.

[nejibens]

I do not know if it is fair or not . But when all the transactions are wasted the same is really unreasonable. Every 1btc or 0.01btc transaction costs about $ 3, which is annoying to the user. And this, in my opinion, needs to be changed if btc is to become popular around the world.

Yes the btc fee's rising recently isn't encouraging actually many people to start using Bitcoin as payment processor unfortunately. Especially when using it for small transactions like 0.01 btc or less.

[Matimtim]

Many people on this forum  said that the transaction fees of bitcoin is depends on the value of bitcoin at the time you have transaction.

Its the reality of life.

Posted From bitcointalk.org Android App

[Haesoo]

Maybe its fair enough when the transaction fee is high and the there's fast confirmation. That will be enough to all of us. But the reality is turtle like confirmation yet paying high fees. Its so unjust.

[roomfirst]

It's already fair for me, because i always customize the fee on all my transaction and you only need to wait 30minutes or even less. But for the last month is really not fair, because you need to pay more fees to get fast confirmation.

[cryt3k]

Transaction fees are mandatory in now a days as existing transaction systems offering higher fees. Compared to that, bitcoins have reasonable transaction fees and transaction security is also at highest level. 

[Reid]

More fair than before which takes a high cost for every transaction. Low amount or high it doesnt change except if you use wallets which have options to change it.
Good thing this happened before more users will stop into using bitcoin.
The lower the fee the better or else they will use those money transfer companies that offers low fees.

[nemagia]

I think that such a fee for the bitcoin transaction is fair. Whoever considers it to be too high can use ordinary electronic currencies with a low commission, but he will not be able to use them to raise prices.

[lllaqpt]

More fair than before which takes a high cost for every transaction. Low amount or high it doesnt change except if you use wallets which have options to change it.
Good thing this happened before more users will stop into using bitcoin.
The lower the fee the better or else they will use those money transfer companies that offers low fees.

Everyone agrees that the commission should be minimal. But it seems to me that this is already becoming impossible in our time. Bitcoin becomes an expensive payment system. Because of this, many users switch to alternative coins

[zikabra]

If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.

There is no other choice. Some people may be having no issues in waiting 2-3 days until the payments get confirmed. But in most cases, the users will be quite desperate to move their funds and they will be forced to pay the high fees.

And why do we have high fees? Every time when someone's transaction stuck everyone shouted "Pay higher fee! Pay higher fee!".
And people started to pay higher fees just to get transaction confirmed before anyone else.
Why complaining now?

[AiWanChu]

TX fees are fair, BTC isnt a micropayments medium, its digital gold.. 50cents fees for moving wealth across the globe?  yeah thats not much

[prieaji]

I'm a bit old or fair but I always thought it would be fair with bitcoin.

[stompix]

Many people on this forum  said that the transaction fees of bitcoin is depends on the value of bitcoin at the time you have transaction.

Its the reality of life.

Many people have no clue what they are talking about.
Why is the value of tx dropping while bitcoin is hovering around 2500k for weeks?

Again, there is no link between the tx value and BTC value.
The fee depends on the number of transactions are are sent daily.
With 10 tx a day you will be able to go with 0 fees , with 1 million tx ... probably ~ 5$ or more per tx.

[8Habits]

TX fees are fair, BTC isnt a micropayments medium, its digital gold.. 50cents fees for moving wealth across the globe?  yeah thats not much

Hit it there bro! There are really people who kept on complaining about the bitcoin fees even if they have transacted thousands worth of dollars in the form of bitcoin. They just don't realized how much who have it cost them if they are transaction with fiat money and its corresponding transaction fees.

[Drnice]

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.

That might seem like it is a better solution for you, but in fact everything depends on the bitcoin price, and on the amount of users that are in the blockchain network.
In fact, the increase of the fee is because of that the bitcoin is way more expensive than in the past, but there is also very important factor we should always remember: the size of fee (in satoshi).

More than a year ago you could have sent 20k sat fee and the transaction would get confirmed in a normal time.
But we have so many people doing transfers, that 20k fee is simply not enough, unless you want to see your transaction being confirmed in next week.

So what you are trying to say is that the higher the transaction then the higher the transaction fees, well in one side its okay, but in the other side its not the best.
And with this reason of yours that is why no transaction of little amounts are been made anymore.

[Invester]

No, it's not. Bitcoin transaction fees are not fair. They are not good either to attract more bitcoin users. And the last thing we want right now is people to lose trust in an invention that has already gained fame but is still very young. Bitcoin is still getting to its top place. Transaction fees is one problem that pull it down. Although I am very positive that it will be settled in due time very soon.

[shield132]

After all not only fees but now long confirmation time: Due to BIP91, it would starting now be prudent to require 5 times more confirmations than usual before trusting transactions.

TX fees are fair, BTC isnt a micropayments medium, its digital gold.. 50cents fees for moving wealth across the globe?  yeah thats not much

Also one of the main idea of bitcoin was low transaction fees and I think it doesn't matter if I send low or huge amount of money, fee has to be low for every user.

[8Habits]

No, it's not. Bitcoin transaction fees are not fair. They are not good either to attract more bitcoin users. And the last thing we want right now is people to lose trust in an invention that has already gained fame but is still very young. Bitcoin is still getting to its top place. Transaction fees is one problem that pull it down. Although I am very positive that it will be settled in due time very soon.

I think when bitcoin cap is removed - there will be no limit of maximum bitcoin of 21 million coins, then I guess transaction fees will go down but if there is a max cap, transaction fees will go to the roof.