Is bitcoin transaction fees fair?

[27QVUTZj8rgZP1]

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.

With that logic, then when Bitcoin price gets to $10,000, fees (denominated in Bitcoin) will increase even more while it has already increased? That would turn the current fee of 0.00070000 BTC / $1.19 to 0.00150000 / $15. While the current unchanged fee would become 0.00070000 BTC / $7 if price reach $10,000 now.

If that is how it is gonna work then I stop using Bitcoin.

[Ewinsane]

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.

yeah bitcoin transaction fees is very much low than other and because people using and adopting bitcoin and people feel that bitcoin is secure currency because they invest their money in huge amount in bitcoin because people know that bitcoin price will be rise to higher value in future.

[richardsNY]

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.

You know what the real problem of most people that complain about the fees is? It's the fact that they need to pay fees of 50-60K satoshi over a lower amount in faucet earnings. Let me put it this way -- in order to spend 30K worth of satoshi that took you many days to collect, you have to include a fee that is double in size in order to just spend it. That's why they are complaining. I seriously don't understand why people still waste their time on faucets....

[virasog]

This process is a little bit risky, and we can not save more money. The transaction fee is high for low amount transfer people. But it is a fair amount for high amount traders. The problem is the transaction fee is fixed that is the problem. It should be fixed by how much amount we can transfer means ok. But it is not like that for the small or big amount the fee is same that is the problem.

Bitcoin is not good micropayment solution, transaction fee is now more than $1 which completely eliminates reason behind every transaction lower than $1 worth of BTC
You simply do not sent $1 and pay 100% transaction fee. Bitcoin transaction fee is linked to the amount of data being send so as long as it is low it should be better option than standard percentage fee.

Blockchain.info shows we should pay at least 120sat/BTC, yes transaction fee depends on your transaction size. But, more than $1 is higher than some remittance fee and we should wait for uncertain time to get the transaction confirmed. I've been waiting for 3 days but my transaction still stuck on limbo and seems $2 fee is not enough for now, even though my transaction didn't exceed 0.8BTC

Yes, the Tx Fee has been increased considerably and what more bad is that even paying 1 to 2$ tx fee, we still have to wait for a considerable long time for the transaction to be confirm. What makes me more worry that as bitcoin is getting used more and more daily, it has become slow in confirming with even more fee. what will happen if it continues like this ? 

[Russlenat]

for me bitcoin transaction fees is fair...
but just don't transact if you have low bitcoin amount. just wait until your bitcoin is big enough and you can transact it all at once.
in order to save transaction fees.

[DoublerHunter]

for me bitcoin transaction fees is fair...
but just don't transact if you have low bitcoin amount. just wait until your bitcoin is big enough and you can transact it all at once.
in order to save transaction fees.

I agree with you, do not send bitcoins when you only have a few amount of it because there is a chance that you will pay higher amount in fees than the actual amount of bitcoin that you are actually sending to another person. It is best to send it all in one transaction so you can save time and also money because you only need to pay one fee.

[qiman]

If you are making small transactions and it costs a dollar or more to send then I feel the transactions are high so from now on it is better not to use Bitcoin for smaller transactions under 50 USD. I don't think it is worth it now for smaller transactions as the mining fees get higher and higher.

[Cherylstar86]

For me it's a fair transaction and eventhough it has that transaction fees, but compared to fiat currency transactions; bitcoin is fairly lesser than fiat charges. If we compare it in government taxations, btc is not taxable as well and that is the advantages that bitcoin has which you cannot benefit from fiat cash government collection system. I don't see what future will bitcoin be if government will take over the adoption of digital currency, and I guess charges will always remain expensive if bitcoin freedom will be gone in the future.

[HatakeKakashi]

for me bitcoin transaction fees is fair...
but just don't transact if you have low bitcoin amount. just wait until your bitcoin is big enough and you can transact it all at once.
in order to save transaction fees.

Thats right , I think the transacton fee of sending bitcoin is fair or equity. Dont send bitcoin if the amount is only little because the transaction fee will add you can save your bitcoin until you reach your target before you send so you will save bitcoin and you can oay only one transaction fee. I think the transaction fee is different because when I use coinbase when I send bitcoin to another wallet the transaction is high even the amount of my bitcoin is little only and I tried also and transaction fee is different to first and I send only same amount .

[Pinkris128]

For me it's a fair transaction and eventhough it has that transaction fees, but compared to fiat currency transactions; bitcoin is fairly lesser than fiat charges. If we compare it in government taxations, btc is not taxable as well and that is the advantages that bitcoin has which you cannot benefit from fiat cash government collection system. I don't see what future will bitcoin be if government will take over the adoption of digital currency, and I guess charges will always remain expensive if bitcoin freedom will be gone in the future.

I agree. That's the biggest advantage of bitcoin. As we all know that government taxed really dramatically and it's not fair for traders. Using this platform is really significant for every traders.

[Omegasun]

For me it's a fair transaction and eventhough it has that transaction fees, but compared to fiat currency transactions; bitcoin is fairly lesser than fiat charges. If we compare it in government taxations, btc is not taxable as well and that is the advantages that bitcoin has which you cannot benefit from fiat cash government collection system. I don't see what future will bitcoin be if government will take over the adoption of digital currency, and I guess charges will always remain expensive if bitcoin freedom will be gone in the future.

I agree. That's the biggest advantage of bitcoin. As we all know that government taxed really dramatically and it's not fair for traders. Using this platform is really significant for every traders.

It maybe fair compare in built transaction centers or bank, but knowing the fees before it may get us worrisome since it really increase,though it still fine since bitcoin value increasing . However its nice to think if ever that the value increase but the fees were not so we can enjoy more the earnings but it seems impossible.

[shield132]

Curious how many people enjoys current fee system. Well, when I created thread, situation wasn't extremely bad but now it's out of control. Current fee is 420 satoshis/byte.
I can't imagine if anyone still thinks it's normal. We need something to fix this situation or fees will be so extremely unfair which will be against bitcoin popularity and it's users.

[27QVUTZj8rgZP1]

Curious how many people enjoys current fee system. Well, when I created thread, situation wasn't extremely bad but now it's out of control. Current fee is 420 satoshis/byte.
I can't imagine if anyone still thinks it's normal. We need something to fix this situation or fees will be so extremely unfair which will be against bitcoin popularity and it's users.

Agreed. They must be people with lots of bitcoin who only cares about them.

Some even mentioned: "Do not send if amount is below 50USD".

Well, $50 for me is a considerable amount of money, my whole monthly income is about $200. It seems Bitcoin will just get more useless everyday for that poor population, because they're not going to pay $2 or more for every transaction.
Leaving or receiving their money in Bitcoin would just become a huge loss, as it is being now. And transferring to fiat will eat a considerable percentage of their money.

I am start thinking about to leave Bitcoin, at least for now. If that situation gets resolved I come back, but if it does not, then Bitcoin would just become a good way to transfer huge amounts of money.

[South Park]

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.

Lets not exaggerate, you make it seem as if bitcoin now can only be used by the ultra rich, bitcoin cannot be used any longer for very small transactions but if you make a transaction of a few tens or hundreds of dollars then the fee is fair.

[carlfebz2]

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.

Lets not exaggerate, you make it seem as if bitcoin now can only be used by the ultra rich, bitcoin cannot be used any longer for very small transactions but if you make a transaction of a few tens or hundreds of dollars then the fee is fair.

It would really hurt you when you do make small amounts of transactions but when you do make transfer for big amounts then fees wont really bother at all and it all depends on person preference if fees would affect too much for him but for me fees are just enough on those transaction we do made.It may go high because of the demand of bitcoin.

[giletto]

I do not think that they are fair to me. The fees are very high and it costs me a lot of money. Damn. Bitcoin needs some improvement to become a good source of money.

[Osarman]

for me bitcoin transaction fees is fair...
but just don't transact if you have low bitcoin amount. just wait until your bitcoin is big enough and you can transact it all at once.
in order to save transaction fees.

yeah bitcoin transaction fees is really very much fair and i think its transaction fees is low than other transaction online transaction system and i also wait to collect big amount bitcoin then transact and we can see that bitcoin transaction is very smooth and safe than other currency.

[chain_chain]

Absolutely not, except current time. Ability to choose transaction fee on your own, is the one of the greatest Bitcoin's features!

[shield132]

Absolutely not, except current time. Ability to choose transaction fee on your own, is the one of the greatest Bitcoin's features!

Yes, you can send even 100 and many btc and you have ability to choose transaction fee but it's greatest feature? lol, this feature is unuseful. Well, than I prefer very low fee but if I send transaction which will be choose on my own, I highly doubt that will be confirmed. So this isn't greatest bitcoin's feature because we can't choose fee on our own, we have to choose high fee to get confirmation.

[Oralmat]

I do not think that they are fair to me. The fees are very high and it costs me a lot of money. Damn. Bitcoin needs some improvement to become a good source of money.

Really? Then you should try the other way for amount transfer, because i think bitcoin has a cheapest fee and it is fair. I think you should try Western Union, then you know it is good and secondly, bitcoin don't need any improvement it is already a good source of income for a huge people.