Is bitcoin transaction fees fair?

[AngelSky]

Well to me it's unfair compared to the past  few months but if we compare to fiat payment processors I'd say we should give the miners a break because this is far cheaper.

Yes, fees has been increased gradually in online wallets like coinbase, xapo, block chain and etc. Time for confirmations also increased to large when compare with few months back
It's just network fee for the transaction so why it's been increased the time as well?

[stompix]

Well to me it's unfair compared to the past  few months but if we compare to fiat payment processors I'd say we should give the miners a break because this is far cheaper.

For sums under 50$  it's not cheaper than most other alternatives and for micro payments the fee exceeds already the transferable amount.

Well to me it's unfair compared to the past  few months but if we compare to fiat payment processors I'd say we should give the miners a break because this is far cheaper.

Yes, fees has been increased gradually in online wallets like coinbase, xapo, block chain and etc. Time for confirmations also increased to large when compare with few months back
It's just network fee for the transaction so why it's been increased the time as well?

Because the demand for a space in the block for the transaction has also increased.
That's why.

[7jaka7]

Once the transactions fee will be too high most of people will use lower fees.
Maybe it just needs some time to stabilize. We must not forget that Bitcoin is still just a big experiment.

[FlightyPouch]

Once the transactions fee will be too high most of people will use lower fees.
Maybe it just needs some time to stabilize. We must not forget that Bitcoin is still just a big experiment.

I don't get what you have said, why will people use a lower fee if the price needed a high transaction fee, not making any sense, isn't it? And I dont think that the fee is that unfair, given the price of bitcoin, and why would we transact a bitcoin that is almost equivalent to the fee? It will be making the miners mistaken that it is a spam.

[7jaka7]

Once the transactions fee will be too high most of people will use lower fees.
Maybe it just needs some time to stabilize. We must not forget that Bitcoin is still just a big experiment.

I don't get what you have said, why will people use a lower fee if the price needed a high transaction fee, not making any sense, isn't it? And I dont think that the fee is that unfair, given the price of bitcoin, and why would we transact a bitcoin that is almost equivalent to the fee? It will be making the miners mistaken that it is a spam.

I was watching at this page.
https://bitcoinfees.21.co/
I thought if everyone would use 1-20 satoshis per byte there wouldn't be a lot of prioritizing. Which would result in lower fees (avarage) and about same confirmation time. (If i am wrong please correct me).
P.S. isn't bitcoin still experiment? I doubt anyone can predict all the things that will happen to it.

[ASHLIUSZ]

Transaction fee is fair, because when the price increases along with the same the transaction fee value increases. Expecting a price increase and decrease in transaction fee doesn't make sense. In my view most users get the fastest confirmation but very few transaction get stuck to the lagging network making it unfair.

[White Christmas]

Not fair but I think it is reasonable. If you want a faster transaction, you shell out additional fees and lower fees for not so fast confirmations. I think it is not automatically setup but you have to select it manually in your wallet.I hope network improves so that it is convenient t0 send and receive transaction just like before.

yes its not fair. But try to put your feet on their shoes right now. maybe you will understand why the fees is getting higher. But im hoping also to be back in to low.

[abel1337]

Bitcoin transaction fee now is for me quite high because of its price , Bitcoins price now is at its highest. Before the transaction fee is very low because bitcoins price before is on a low level.

[DoublerHunter]

Bitcoin transaction fee now is for me quite high because of its price , Bitcoins price now is at its highest. Before the transaction fee is very low because bitcoins price before is on a low level.

No. The fee is high now because of the high demand or high amount of transactions in the network and a lot of transactions are unconfirmed so there is a high increase on the fees so the higher fee were gonna have a higher priority. The fee is low back in the past because the amount of bitcoin user is still low so it is an easy task for other miners to confirm transaction.

[youdamushi]

Well to me it's unfair compared to the past  few months but if we compare to fiat payment processors I'd say we should give the miners a break because this is far cheaper.

For sums under 50$  it's not cheaper than most other alternatives and for micro payments the fee exceeds already the transferable amount.

Yup but for big money it's the best.
Btc is just the cheapest way to send money to other countries.
But the coin is what's best for big transfer

[BlackPanda]

Transaction fee is fair, because when the price increases along with the same the transaction fee value increases. Expecting a price increase and decrease in transaction fee doesn't make sense. In my view most users get the fastest confirmation but very few transaction get stuck to the lagging network making it unfair.

This is reasonable. Because the shipping cost corresponds to the amount of bitcoin we send. The less the smaller the fee we spend. This becomes an advantage when we shop for goods that have a cheap price. This is the reason why bitcoin becomes a revolution for payment in everyday life.

[soul-impact]

Transaction fee is fair, because when the price increases along with the same the transaction fee value increases. Expecting a price increase and decrease in transaction fee doesn't make sense. In my view most users get the fastest confirmation but very few transaction get stuck to the lagging network making it unfair.

This is reasonable. Because the shipping cost corresponds to the amount of bitcoin we send. The less the smaller the fee we spend. This becomes an advantage when we shop for goods that have a cheap price. This is the reason why bitcoin becomes a revolution for payment in everyday life.

OK, so many people complain about what they pay for transactions, but they do not see them correctly. Greed makes them do not see all the problems, even though they have to pay a high fee (USD), but according to BTC, that fee is reasonable.

[micher143]

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.

They are depending right now on the price. honestly speaking, its not fair because it looks like were losing our money because of the high transaction fees. But in the other side, i think they have deep more reason why its getting higher right now.

[Taki]

Many users are not happy with high fees, some even so much that they want to quit using Bitcoin. Sometimes fees are exaggerated but good wallet can solve the issue with proposed transactions fee that will not stop it from beeing confirmed but also that is fair enough. But have the miners become too gready that is another question.

To quite bitcoin using only cause of fees are not small as we all expect? I can understand all this sites and exchangers who take fees from us, they all need money to pay their workers and so on. Unfortunatuly without their support we just can't use bitcoin, it is not fiat, everything is digital and exist on the internet only. Ad we will have to pay for the internet and to pay fees to all sites that support bitcoin circling.

[South Park]

Not fair but I think it is reasonable. If you want a faster transaction, you shell out additional fees and lower fees for not so fast confirmations. I think it is not automatically setup but you have to select it manually in your wallet.I hope network improves so that it is convenient t0 send and receive transaction just like before.

the fee is already cheaper than any money transfer service, people who say it's unfair, better get off sending the money by themselves because they always consider the fee even a cent as unfair

yes sir! i spent a lot of money on money transfer fees, and the fee they charge on bitcoin is very reasonable compared to money transfer services, bitcoin transaction is faster and cheaper!

Fair has many different meanings, compared with fiat money transfers and fees like western union have ( I used them few times in the past ) bitcoin fees are fair and reasonable. Who doesn`t wish to wait pays a bit more and he have faster transaction, for all the people who don`t like fees can use some wallets without any fee, but don`t complain on a little waiting sometimes.

The day where you could send a transaction without any fee and get a confirmation are over, you need to send a good enough fee to get a confirmation at all and if you want a fast service you need to overpay to get, nothing wrong with that in my opinion but we need to approve segwit so things improve a little.

[27QVUTZj8rgZP1]

Currently, fees are very high. And it is making Bitcoin useless for everyday spending as a form of payment (grocery store, coffee shop, etc).

At least in my country, paying over $1 as transaction fee for a coffee or other common small spending is very high. I was avoiding Paypal to get my money from a website because they're charging over $1 for fee... But now Paypal is becoming a better alternative for the moment.

But the fees are still great if you need to buy a luxurious car or a yacht.

[Osarman]

Transaction fee is fair, because when the price increases along with the same the transaction fee value increases. Expecting a price increase and decrease in transaction fee doesn't make sense. In my view most users get the fastest confirmation but very few transaction get stuck to the lagging network making it unfair.

i agree with you that bitcoin transaction fees is fair and its not a big issue for me because there is paypal and bank transaction is very much high and i consider that bitcoin transaction is low than other payment system.

[kelseydustin]

Yes it is fair.Because BTC price is increasing and for that fee are increasing.When BTC price going to down,fees will also go to down.

No bro. They are not fair at all. The fees are very stupid and because of those chinese lunatics, we can never ever have a fair fee. How can you accept to pay $1 fee for a $0.5 transaction. This is ridiculous

[jak3]

It would sound like a bank system they always charge more and they also delay the work as much as possible for them but with the Bitcoin the case is different at first when it was charging some part of the transaction which was at that time priced low but that same part now is more costly due to the high price also due to the heavy network size but only transactions and not the issue here if you see it clearly then you can identify that we have to do some of chain transactions like the uses transacting from blockchain to there another blockchain account should not be taken fees because they are transacting in their own network this way we can minimise the consumption of fees.

[bettercrypto]

Yes it is fair.Because BTC price is increasing and for that fee are increasing.When BTC price going to down,fees will also go to down.

No bro. They are not fair at all. The fees are very stupid and because of those chinese lunatics, we can never ever have a fair fee. How can you accept to pay $1 fee for a $0.5 transaction. This is ridiculous

It is fair.  I think you need to forget dust transactions.  Bitcoin priced had increased so I guess we need to adjust too.  Bitcoin is still the cheapest in my opinion in transferring thousands to millions of dollars worth of BTC.  If you are to send  dust better to use altcoins for it.