Is bitcoin transaction fees fair?

[Slark]

There isn't one arbitrary and the best value bitcoin fee should be. For one person equivalent of $0.10 (10 cents) would be enough.
For another man anything less that $1 tx fee is fine. I see that problem with Bitcoin is that on-chain transaction are no suited for micropaymets.
But to be honest - they never were.

Sometimes I wish that under certain transaction value, bitcoin fee would change to percentage fee instead of the flat fee.

[Gens09]

I think it's fair enough because it's just a cent but it takes hour to confirm our transaction if you look in the good side that not bad at all because you just pay a cent and the transaction was in the other country all at all if you try to send money in the band or in other way it take a dollar for the fee but in bitcoin it almost free so we can say that that not bad at all and still fair enough.

[mackenzied]

There isn't one arbitrary and the best value bitcoin fee should be. For one person equivalent of $0.10 (10 cents) would be enough.
For another man anything less that $1 tx fee is fine. I see that problem with Bitcoin is that on-chain transaction are no suited for micropaymets.
But to be honest - they never were.

Sometimes I wish that under certain transaction value, bitcoin fee would change to percentage fee instead of the flat fee.

Fees have an impact on the speed of transactions, which is the limitation of bitcoin. Many altcoins do not encounter this, their transaction speed is only a few seconds, extremely fast.

[stompix]

Its not fair for users because they add fee even a small transaction they want a small fee.  So very unfair because i have earned bitcoin but not so big if i send it to my local wallet i need to add fee for my transaction.

It's pretty fair.
Does you seat at the cinema cost the same as the guy who makes 10 times more?
You're in both situation occupying a limited amount of "space".

Are we going to go socialism nuts and have the fees based on the amounts?
God forbid.

It could be interesting you know.
It's just a question of what do we want to do.

What would happen if "we went socialism nuts" as you say (which just means in fact trying to mutualize the costs).
Well the fee would be depending of the amount you send: the higher the amount the higher the fee.

But it has no link whatsoever to the actual use you make of the network as the amount isn't relevant...
So it would make no sense and would just make people make a lot of small transactions.

In the end you would have much more transactions and a much more flooded network with a higher average cost...
Not exactly a good idea in my opinion, socialism doesn't work well on btc ^^

Right now everyone is paying the same for kb of transaction. So it's as fair as it can be.

Once we go socialist nuts what will happen? People with large amounts will pay more.

But wait... this is not how bitcoin works.
Because in real life you can't have your wage paid every day and by this avoiding taxes cause you earn less;).

And exactly as you said.....
Nothing will stop the big guys to avoid payments of 1% on 1000btc to send 1000 transactions of 1 btc and pay 0.01%.
And the most interesting thig is that flooding the network will be a lot cheaper not higher as you stated;)))) That's a lol.

Bitcoin is probably the most capitalist thing ever.
So the people that see btc as the savior of the poor are heading for a shock therapy , 1 anal inspection per kb.

[Kolder]

There isn't one arbitrary and the best value bitcoin fee should be. For one person equivalent of $0.10 (10 cents) would be enough.
For another man anything less that $1 tx fee is fine. I see that problem with Bitcoin is that on-chain transaction are no suited for micropaymets.
But to be honest - they never were.

Sometimes I wish that under certain transaction value, bitcoin fee would change to percentage fee instead of the flat fee.

It should be percentage base since we didn't sometimes reach the limit of that amount, we sometimes get doubted to send bigger amount just to be able to reach the cap wherein we can get discount. Though the action fees were smaller than doing manual or actual transaction payments.

[Gotottack]

I think it's fair enough because it's just a cent but it takes hour to confirm our transaction if you look in the good side that not bad at all because you just pay a cent and the transaction was in the other country all at all if you try to send money in the band or in other way it take a dollar for the fee but in bitcoin it almost free so we can say that that not bad at all and still fair enough.

That is already unfair compared to back then when the fees doesn't even come to $0.01. This is bad since it could make fees burdensome to users especially if in the future there would be a great adoption of bitcoin where it can be used by the general public already like buying ice cream or groceries or whatever. The fees will now be a great factor.

[Kprawn]

I see this as inflation... $10 will buy you 1 Mac Burger today, but in 5 years this same burger will cost you say $30. <-- Just an example. There are

many other things that influence the rise in price too, like the spam attacks that are pushing up the miners fees. { this is done through manipulation }

We will always have this, because the miners found the perfect method to milk Bitcoin users for more miners fees. { selective mining methods } 

[jak3]

the problem has arises and it can not be solved all we can do is launch new type of wallets which can minimize the maximum fees or else you can transact your bitcoin to any altcoin like asiadigicoin(adcn) you have to just pay a small transaction fees like 0.01adcn no matter how many coin you transfer. so altcoin are right now the best option everyone is using and they are not using it they even started trading it . altcoin trading is far far more profitable than bitcoin in a short time

[Jasad]

i just experienced that blockchain.info fee really high ,
if i did not adjust the fee the wallet recommends me to use 0.006 bitcoin as a fee !
it is around 7.83 USD! freaking expensive awesome ,
especially for a transaction worth $7 only , i don't know what exactly the formula to calculate transaction fee 

[stompix]

the problem has arises and it can not be solved all we can do is launch new type of wallets which can minimize the maximum fees or else you can transact your bitcoin to any altcoin like asiadigicoin(adcn) you have to just pay a small transaction fees like 0.01adcn no matter how many coin you transfer. so altcoin are right now the best option everyone is using and they are not using it they even started trading it . altcoin trading is far far more profitable than bitcoin in a short time

false , stupid , false...

Wallets don't minimize the fees. Wallets have nothing to do with fees.

that garbage coin you're talking about has a fixed fee. Yeah right so? If I will try to make a billion transactions with it they will go in the first block? Of course not.
It has simple faster blocks. That's not a problem solver.

Trading ... what the hell has trading to do with transactions?

i just experienced that blockchain.info fee really high ,
if i did not adjust the fee the wallet recommends me to use 0.006 bitcoin as a fee !
it is around 7.83 USD! freaking expensive awesome ,
especially for a transaction worth $7 only , i don't know what exactly the formula to calculate transaction fee  

Can you post the txid?

I just paid a    0.00026719   fee for around 56$ .

[Capradina]

I think this is fair enough, because it is they who benefit from buying when prices were very low bitcoin won't mind to give fee that's not how or not of the profits obtained. You need to know, because of the high cost of a block which is already increasingly full so it is very reasonable. Or if you object to any fees on transactions carried out then replace bitcoin into altcoin like ethereum or LTC, etc because I see them quite stable
 

[digaran]

I'm still willing to pay $1 buck for one simple and small transaction but this is slowly getting ridiculous and I wont pay higher than $1 unless the size is bigger than 350bytes, I even always try to pay 25-50 satoshi per byte higher than the recommended fee and the blockchain advance send suddenly changes the confirmation time with lower fee and says 10 minutes next block will get confirmed dude I beg you lower your fee lol but I send with current fee anyways.

You see there are actually very cool and understanding people, users such as me not giving any excuse to miners for an unneeded political hard fork.
I'd like to propose a solution which will require the whole community everyone just stop paying any fee higher than 120 sats/B but that never happens since there are people want nothing but to get fast confirmation.

[abel1337]

For me its a bit fair for now. Before I enjoy transacting because there are only a small amount of transaction fee for my transactions thats why I love sending small amount of btc. But now the price is quite rising. One time on blockchain I sent a bitcoin to a gambling site and the fee was freakin high. I was shocked that time ,but it only happened to me one time

[Qartada]

Right now everyone is paying the same for kb of transaction. So it's as fair as it can be.

You seem to be very confused about how Bitcoin works.  People choose their fees and miners naturally choose whichever transactions have the highest fee to include in a block.  It's a fee market - it's fair but people don't pay the same.

Once we go socialist nuts what will happen? People with large amounts will pay more.

But wait... this is not how bitcoin works.

Actually to some extent it is, since larger transactions tend to have a larger amount of inputs, especially for ordinary people and merchants who would receive a lot of transactions.

Nothing will stop the big guys to avoid payments of 1% on 1000btc to send 1000 transactions of 1 btc and pay 0.01%.
And the most interesting thig is that flooding the network will be a lot cheaper not higher as you stated;)))) That's a lol.

No, that's also not how Bitcoin works.  You're now contradicting yourself.  Bitcoin transactions all have a moderate size before inputs/outputs and other factors are considered - sending many transactions will not cause lower fees, it'll cause higher fees.

[stompix]

Right now everyone is paying the same for kb of transaction. So it's as fair as it can be.

You seem to be very confused about how Bitcoin works.  People choose their fees and miners naturally choose whichever transactions have the highest fee to include in a block.  It's a fee market - it's fair but people don't pay the same.

Once we go socialist nuts what will happen? People with large amounts will pay more.

But wait... this is not how bitcoin works.

Actually to some extent it is, since larger transactions tend to have a larger amount of inputs, especially for ordinary people and merchants who would receive a lot of transactions.

Nothing will stop the big guys to avoid payments of 1% on 1000btc to send 1000 transactions of 1 btc and pay 0.01%.
And the most interesting thig is that flooding the network will be a lot cheaper not higher as you stated;)))) That's a lol.

No, that's also not how Bitcoin works.  You're now contradicting yourself.  Bitcoin transactions all have a moderate size before inputs/outputs and other factors are considered - sending many transactions will not cause lower fees, it'll cause higher fees.

I'm not confused you are confusing the terms of value and amount.

1. I've already said.
People pay the same amount no matter the value.
It's your choice to pay x or y amounts per kb. The argument was about the value / fee ration.
Are you paying a bigger fee for a transaction 35 btc worth rather than 30 btc , with a single input?


2.  Amount as value and amount as transaction size in kb.
I can have 20 inputs with 1000 btc I won't pay more than the guy with 30 inputs and 0.05 btc.

3. I'm not contradicting myself at all.
I've already stated that this is the model people want in their socialist block chain where small transactions become cheaper.
Which obviously can't happen because once small transactions (as value) become cheaper people will break down larger transactions resulting in flooding.

[amacar2]

It has rose quite a lot in past few years. The only reason for this is high mining difficulty and block reward halving, miners will not earn any profit if they start accepting transactions with low fee like before because of low block reward right now.

Block reward was halved so miners have doubled the minimum fee per byte of transaction.

[Naokia980]

If you dont want to pay higher fees then pay less and try to accelerate transaction on accelerator sites. That is how i ignore high fees.

[daiyuba1971]

It has rose quite a lot in past few years. The only reason for this is high mining difficulty and block reward halving, miners will not earn any profit if they start accepting transactions with low fee like before because of low block reward right now.

Block reward was halved so miners have doubled the minimum fee per byte of transaction.

Yes, you are right and this trend will continue. I do not really like it. Everyone is used to the fact that bitcoin can be used without high commissions. But now everything is changing

[MissGrey]

Bitcoins fees are calculated by using bytes/satochi so when the bitcoin prices rises the fees become more expensive, as well there is another factor that makes the transactions becomes expensive. The number of unconfirmed transactions, in order to have a fastest confirmation, you will need to pay a higher rate of bytes/satoshi so at the end that's why the bitcoins transactions become more expensive when the price of bitcoin rises.

[milewilda]

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.

Its not actually the reason why do bitcoin tx fee do rise, Price of bitcoin doesnt affect on rising tx fee the main reason why do have such rise is that when theres a lot of transactions happening on the network which means you will need to pay up more tx fee if you want to fasten up the transaction and in fact no one forces you to do pay that amount it still have the choice on paying below the average but expect that the confirmation times would be more longer.