Is bitcoin transaction fees fair?

[ekoice]

For me it is not, the fee is so high. The appreciation of Bitcoin price should reach  high before an investor could actually take notice of the return of investment when traded.

Well! You are right but I think it is not so much high the price and the profit of the bitcoin are also increasing. A lot of people are using bitcoin and they are investing in bitcoin so that they are expecting good profit so as we know that ‘no pain no gain’ so if you want fast and easy transaction as a lot of people are enjoying you will have to pay a specific transaction fees so that you will not have to wait so long for the conformation of the transaction.

I think that the high transaction fee problem and transactions getting delayed has almost been solved with segwit activation.I think that segwit has got almost locked in and that's what we all expected for activating segwit.I think that normally now the transaction fee is lees than $3.Now,we could expect even more companies to accept bitcoin payments here after.Bitcoin is still the cheapest means to send money to any part of world today.

[Engand]

it truly is subjective, nothing at all is about reasonable or not, this is just an investment decision for the miners, they (with the halving) misplaced a big part of their profit and with the existing tide of transactions in bitcoin, they are attempting to get far more with people willingness to shell out higher expenses to be provided earlier,I never concur on segwit and many others... since that will damage bitcoin principles instead than just remedy this issue, there is also a chance of greater part of main builders leaving bitcoins and forking yet another coin and so on...  in quick, I prefer a significantly less controversial remedy.

[Didle1938]

I'm perplexed, why transaction fees bitcoin is obtaining larger, used to deliver and get costs on the XAPO for free, but now I have to say is fairly expensive, it's what can make us be reluctant, if the person proceeds to improve, of program the price is more substantial than the financial institution.

[GreenBits]

unfortunately the fee is indeed fair; its the result of a mostly democratic process. the rub lies in the way we are misusing the protocol, at least per its original intention. we werent supposed to see these price levels, at least this quickly, and we also werent supposed to see the much traffic at this point. this was never intended for all that. in fact, I dont think corporate adoption is even feasible via Satoshis model until AFTER all block rewards are issued. any serious corporate adoption (the mere beginnings of which we are seeing now), will do exactly what is happening to the network now. we have a ways to go before the big leagues, if we even make it.

[nskendrovic]

Of course bitcoin transaction fees are fair. They're fair because they secure the network by incentiving miners to do their job and their fair because you get to use an immutable ledger to transact on. They're minimal compared to fees we pay with western union, credit cards, taxes, etc

[treather]

The current fees are fair, and transactions are generally faster. However, it could go pear shaped at any moment as we experienced a few weeks back.

[bitcoinmasterlord]

For me it is not, the fee is so high. The appreciation of Bitcoin price should reach  high before an investor could actually take notice of the return of investment when traded.

Well! You are right but I think it is not so much high the price and the profit of the bitcoin are also increasing. A lot of people are using bitcoin and they are investing in bitcoin so that they are expecting good profit so as we know that ‘no pain no gain’ so if you want fast and easy transaction as a lot of people are enjoying you will have to pay a specific transaction fees so that you will not have to wait so long for the conformation of the transaction.

I think that the high transaction fee problem and transactions getting delayed has almost been solved with segwit activation.I think that segwit has got almost locked in and that's what we all expected for activating segwit.I think that normally now the transaction fee is lees than $3.Now,we could expect even more companies to accept bitcoin payments here after.Bitcoin is still the cheapest means to send money to any part of world today.

After segwit, actually the confirmation speed is increased, and the fee is also little bit increased. This is not fair for minimum bitcoin transactions but big amount transaction, it is fair enough. Sometimes when I do small amount transaction, I too feel the fee is high, but my intention is my bitcoins should be confirmed fast, so I take it easy.

[VanDeinsberg12]

For me it is not, the fee is so high. The appreciation of Bitcoin price should reach  high before an investor could actually take notice of the return of investment when traded.

Well! You are right but I think it is not so much high the price and the profit of the bitcoin are also increasing. A lot of people are using bitcoin and they are investing in bitcoin so that they are expecting good profit so as we know that ‘no pain no gain’ so if you want fast and easy transaction as a lot of people are enjoying you will have to pay a specific transaction fees so that you will not have to wait so long for the conformation of the transaction.

I think that the high transaction fee problem and transactions getting delayed has almost been solved with segwit activation.I think that segwit has got almost locked in and that's what we all expected for activating segwit.I think that normally now the transaction fee is lees than $3.Now,we could expect even more companies to accept bitcoin payments here after.Bitcoin is still the cheapest means to send money to any part of world today.

After segwit, actually the confirmation speed is increased, and the fee is also little bit increased. This is not fair for minimum bitcoin transactions but big amount transaction, it is fair enough. Sometimes when I do small amount transaction, I too feel the fee is high, but my intention is my bitcoins should be confirmed fast, so I take it easy.

I'd agree, after segwit everything get "a little bit better" those damned exchange still set their fee approx 0.001 which is crazy. wasting $3-4 for the sake of sending a little money is pretty dumb for me
just done 2 transaction which each only send approx 10$ and the fees take damned half of it. can't be more mad for now with this stupid exchanges.

[kamikadze69]

of course not. I think the bitcoin is directly proportional, so every price rises, then the fee we have to spend will also rise, as well as other needs other. I think it all happened because the number of transactions increased due to the very active market.

[8Habits]

of course not. I think the bitcoin is directly proportional, so every price rises, then the fee we have to spend will also rise, as well as other needs other. I think it all happened because the number of transactions increased due to the very active market.

Everything is fair - as long as you are earning big money out of your bitcoin thing, bitcoin transaction fee is not really a problem. It would only be unfair if only us will benefit from it and at the expense of the bitcoin miners. Yes, I agree that the transaction fee is proportional to how bitcoin price is going up or down and the law of demand and supply is in application with bitcoin transactions.

[warrior333]

of course not. I think the bitcoin is directly proportional, so every price rises, then the fee we have to spend will also rise, as well as other needs other. I think it all happened because the number of transactions increased due to the very active market.

Everything is fair - as long as you are earning big money out of your bitcoin thing, bitcoin transaction fee is not really a problem. It would only be unfair if only us will benefit from it and at the expense of the bitcoin miners. Yes, I agree that the transaction fee is proportional to how bitcoin price is going up or down and the law of demand and supply is in application with bitcoin transactions.

The price of the transaction may not depend on the number of bitcoins you listed. The transaction volume does not change. It seems to me that this problem can be solved if there is a possibility to buy goods with bitcoin. We will save a lot of money to convert to Fiat and payment transactions will cease to be a problem.

[Shiller2009]

I consider the commission bitcoin fair, as it is already considered an investment, and not a simple currency through which you can make only payments. If someone wants a small commission, then he can use ordinary currency.

[8Habits]

I consider the commission bitcoin fair, as it is already considered an investment, and not a simple currency through which you can make only payments. If someone wants a small commission, then he can use ordinary currency.

You actually have a point there - bitcoin is already considered as a good investment and not just ordinary financial transactions you see with fiat money. You are not buying candies with bitcoin for sure. Hence, transaction fees are just but right if you put it at this context.

[boriss3]

the factor is poeple are usually complaining that the costs are substantial but the truth is charges have stayed the same its the price tag of bitcoin that long gone up, simply because the price tag skytocketed we havent seen it, and to be reasonable since bitcoin has become really common the miners have much more operate to do and far more transactions to affirm, but still some wallets get substantial charges and transactions even now sluggish.

[jhonnydeep87]

Bitcoin transactions usually occur for free if the number of bitcoins sent exceeds 0.01 BTC. Bitcoin in small quantities is given to miners as a reward for processing the transaction and putting it into blockchain. For now, most transactions are processed for free, but for deals that attract coins from multiple Bitcoin addresses so that it requires a larger portion of data, it will incur very small transaction costs.

[mastica]

I do understand that the system does need the fees to remain alive, and as incentive to the miners, even knowing at this moment the fact of they collect blocks would be enought for them, but the fee is just a way to keep the transactions safe. Some coins are coming offering no fees wich may change the game, if you can keep doing all the things you do with bitcoin without have to pay a fee i believe its an improvement and something to consider over the future.

[Shreek]

I do not know ,,, but my friend says that bitcoin transaction is fair ,, i have never transacted with bitcoin ,, and i hope, is there anyone else can give me information about bitcoin transaction? is it fair or not? ??

[saschafx]

Its not at all truthful due to the fact of that only i moved to alt coin. I know that substitute coin will be long term . I fed up with bitcoin transaction charge.

[GenadiyRyb]

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.

I'm what in this fair? ) If banks, ATMs, and other financial institutions worked like this? It would paralyze the market.

PayPal operates according to other rules, and is quite popular. And there are no such problems.

[KenDowson]

I can understand that the system need the fees, but imagine if, with the growth of the dollar (say, 30 times), the commission for the transaction became similarly higher. It would be nonsense, isn't it? Then why should everything be different with the crypto currency? I think it would be great if the fee of the transaction was constant (and minimal)