Is bitcoin transaction fees fair?

[prashanta]

This is fair enough i think because we are using bit coins to get a huge income from various platform which is much more than the transaction fees. So, it's a silly topic seems to me

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[KuromaYoichi]

The transaction fees is favoring the one who send a lot of money as it's calculated based on the transaction size. But for the one who like to send a little, then the transaction fee feels expensive compared to the time you have to wait until it's get confirmed. Yesterday i sent about BTC0.07, the wallet recommendation fee is about 0,0006 because there's a lot of unconfirmed transaction, i lower it to 0,0005 and my transaction just get confirmed about 3 hour ago  .

[shield132]

This is fair enough i think because we are using bit coins to get a huge income from various platform which is much more than the transaction fees. So, it's a silly topic seems to me

Sometimes I use bitcoins to keep money very secure and it's not always profit source like you said. And also imagine bitcoin become 5000$ and you want to make transaction of 50$. Imagine how much you have to pay for fee. That's why I say that we need bitcoin with fee which will be depend on price.

[optigon]

The transaction fees of bitcoins is fucking my ass now as even after paying higher fees I have to wait for hours to see balance in my wallet and that is really fucking frustrated and if this is not solved then I will quit bitcoins for sure.

[rajasumi3]

No i think the transaction fees are fairly high.well when the price of bitcoins is going high ,then you can expect that the price of bitcoins is also going high whereas banks charges so much money for home loan and give so little interest ,when the money is kept in bank.

[CloudStrife]

For me this is no big problem, since the primary use for me is storage of value, but high fees will certainly affect people who need to make transactions on a daily basis.

[Kyraishi]

In my opinion we should not call the fees "fair" or "unfair" because it is simply just a cost generated by blockchain, this is the way how it works.
You need to apply a bounty for miners on every transaction to have a possibility, of sending your money in some blocks mined by machines.

Still, the fee payed on every bitcoin transaction is not thay high as many people say, after all that is literally worldwide so you may withdraw your crypto anywhere you may wish.

[lighpulsar07]

For me, it's fair because the miners are using their machines and paying high electricity fees to mine a block in order to confirm the unconfirmed transactions in the network also, the blocksize is 1MB so, the transactions would fit in the block is limited and, the difficulty to find a block is high it would take a while to mine it.

[Rinder]

Miners are using their machines and are paid for their contribution into the network currently the high fees makes no sense this they mine a new blocks all days, soo now the big transaction fees makes no sense, poloniex still using a fixed 10k satoshis as fees, since they have a big volume they are able to join a lot transactions and let them to be confirmed very fast.

[Baby Dragon]

I gues it's fair enough for sending money in this bitcoin transaction it's just a few cent even if sometime it's take an hour or a day to confirmed still good unlike when you do it in other way or send money abroad using bank or etc.

[Kisanaq]

I feel the transaction cost higher, even bitcoin XAPO and Coinbase currently charge a transaction fee, should the bitcoin can be smaller or free so make bitcoin favored forever.

[shinratensei_]

In my opinion we should not call the fees "fair" or "unfair" because it is simply just a cost generated by blockchain, this is the way how it works.

My thought if the fees just generated from the average transaction fees.

You need to apply a bounty for miners on every transaction to have a possibility, of sending your money in some blocks mined by machines.

It's not considered as a bounty for the miners but the users of bitcoin must pay the fees for the miners to keep them to running the network.

Still, the fee payed on every bitcoin transaction is not thay high as many people say, after all that is literally worldwide so you may withdraw your crypto anywhere you may wish.

If comparing the bitcoin transaction and altcoin which gives an opinion if the bitcoin transaction has been including on high fees.

$0.05 and your transaction will have delivered in 10 minutes through off-chain transaction such as ethereum chain.

[gribble]

Well I think bitcoin transaction fees because of the block size of bitcoin and it is problem of bitcoin
 i don't think it is about fair or not of bitcoin transaction fees,
it is fact of bitcoin transaction fees must be paid by users of bitcoin, as comunity of bitcoin we must find
 the solution for this problem the expensive of fees transaction.

On the other hand, transaction fee is the most important reward if bitcoin mining period is up, so I think there is no harm if we pay them whatever we want, I also have examined that no matter how bitcoin transaction fees, everything will be processed to avoid flooding that will cause the pending transaction. So this is not a matter of fair or not, but there is no definite rule about how ideally the actual nominal fee.

Yup, the fees transaction of bitcoin actually it is problem of bitcoin, but there are some people who take it problem
and the other people consider​ bitcoin transaction fees is not problem,
it is the fact of bitcoin transaction fees we are comunity of bitcoin has responsibility for make bitcoin become more better
unfortunately we can not do anything for it, except wait and see updating from developers.

[layoutph]

In my opinion Bitcoin fees is fair. As to compare to Paypal and other money payment gateways bitcoin is still cheaper. Higher bitcoin miner fee means fast transaction.

[Vaskiy]

In my opinion Bitcoin fees is fair. As to compare to Paypal and other money payment gateways bitcoin is still cheaper. Higher bitcoin miner fee means fast transaction.

That's true, higher miners fee fast will be the confirmation of the respective transaction. With PayPal and other payment gateway a minimum fee is set for every transaction, but with bitcoin some service providers impose big transaction which most of the time affect the small volume transactors.

[CuriousGeorge]

For me this is no big problem, since the primary use for me is storage of value, but high fees will certainly affect people who need to make transactions on a daily basis.

Doesn't matter that much if the transaction done less than 20 in daily basis, he's only spending few dollars worth for sending money everywhere, compare it when you're using western union

[27QVUTZj8rgZP1]

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 was thinking about it these days. It is acting like the more the price goes up, the higher the fee gets (and in BTC, lol).

Recently, I made a transaction using 0.001 fee per kB. I thought it was OK, but it wasn't.

My transaction took more than 12 hours to get first confirmation: 438edaa5917f0c43a30734a1794ab70a01f725e3dd87e278dec126b3b860e79f

I think I should use 0.002 or 0.003 fee per kB? It is getting too salty for me, really.

[aakashsangwan]

For me this is no big problem, since the primary use for me is storage of value, but high fees will certainly affect people who need to make transactions on a daily basis.

Doesn't matter that much if the transaction done less than 20 in daily basis, he's only spending few dollars worth for sending money everywhere, compare it when you're using western union

No, it does matter, what if you want to buy coffee with bitcoins, you will have t pay way more transaction fees as compared to the the price of one cup of coffee.
So yup, it's a bit unfair, that the fees is increasing day by day and we are unable to do anything to get rid of this problem, it only depends on the decision of miners.

[Harlot]

I think it is fair in which you be able to choose what kind of transaction fees you want in each transaction. The ability of choosing how much you will pay only depends on how much you really wanted that transaction to be prioritize. Also comparing it to other transaction fees like inter-branch bank transfers seems to be fair in terms of price as 20-60k satoshis per yransaction won't break the bank that ranges around 26-78 cents per transaction, not even a dollar per transaction.

[coynedterm]

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.

Nothing is that , what you are saying . Here no fault is by the bitcoin and it's increased price .
Here just thing about 3 years ago how many altcoins were in the market and today how many in the market , so here the increased in the multiple numbers of the altcoins people have the chances of earning money , Everyone making payment and transfer through bitcoin and want to make speed confirmation , so they pay high fee , in.this way a type of compensation arise between the bitcoiners​ to pay high fee .
So if you will pay high fee then you will get priority to confirm your transaction in the miners and vice versa .