Is bitcoin transaction fees fair?

[magneto]

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.

They aren't fair... I agree with you on that.

However there is really nothing we can do about it. Bitcoin still has advantages over, say Western Union if you are transferring large amounts of money overseas. But that's probably the only advantage that bitcoin has over WU right now, there used to be a 3 page long list of benefits of using bitcoins instead of other remittance services.

Basically, fees are fair if you send $1,000+ in one go, but not if you only send $10-20 as an average joe as at least 20-30% will be taken out of that amount..

[Doms]

For me, anything that charges about 2% for every transaction would be fair, especially if it confirms in real time. Now if bitcoin transactions can be made faster without increasing the fees too much then it is like fairy tale come true. But there are those who are benefitting from these high fees and they are not going to let go of such earning opportunity that easily.

[dmamigo]

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.

I think he is comparing the fees with fiat, then IMO its kind of unfair. Even if you think then also its fair because its a currency which is increasing its value.
But I agree everyone's satisfaction towards anything varies. But I believe its fair.

[Kodok Bencot]

The current cost of a transaction with the bank about $0.4 If domestically and $7.47 if we send abroad, only about $0.2 bitcoin transactions so I think it is very fair.

[JL421]

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

You can even send transactions at a fees of 0.0001 but doing that can lead the transaction getting lost. I received a payment of 10$ and the fees was so low that finally the network rejected it and he told he never got a refund. So basically it was a loss for both of us. Don't be a dumb idiot to save fees you may ended up losing everything you sent

[DoublerHunter]

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

You can even send transactions at a fees of 0.0001 but doing that can lead the transaction getting lost. I received a payment of 10$ and the fees was so low that finally the network rejected it and he told he never got a refund. So basically it was a loss for both of us. Don't be a dumb idiot to save fees you may ended up losing everything you sent

The fee of 0.0001 for any transactions is just a history for bitcoin because now the fees are so dramatically high and i just checked the fee for withdrawing in bittrex and they are charging 0.001 per withdraw request on their site and that is very high. I didn't expect that they will charge that high but if it is a bug then they should fix it as soon as possible because that fee is so expensive.

[Senja Kemuning]

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

You can even send transactions at a fees of 0.0001 but doing that can lead the transaction getting lost. I received a payment of 10$ and the fees was so low that finally the network rejected it and he told he never got a refund. So basically it was a loss for both of us. Don't be a dumb idiot to save fees you may ended up losing everything you sent

The fee of 0.0001 for any transactions is just a history for bitcoin because now the fees are so dramatically high and i just checked the fee for withdrawing in bittrex and they are charging 0.001 per withdraw request on their site and that is very high. I didn't expect that they will charge that high but if it is a bug then they should fix it as soon as possible because that fee is so expensive.

Yes correct, currently there are no transactions for free, coinbase and even the xapo fees more than 0.001 btc, possibly because of server load and large mining so their high costs.

[Sithara007]

I am quite concerned, because first of all, the fee is not stable. It is around 400-800 Satoshi/byte now, but there is no guarantee that it will not rise to 2,000 or 3,000 Satoshi per byte after a few months. And what if the exchange rates will increase from the current rates of $1,800 to $10,000 per coin? Will you pay $10 for a single Bitcoin transaction?

[SHANTA]

Transactions that compensation a larger number of charges are quicker than those that compensation less expenses it's typical yet that is not the issue. The issue is the time it takes. For instance if the exchanges with higher expenses paused for a moment and those that compensation less took two hour

it would be justifiable. Be that as it may, the issue is that there are exchanges that are taking 12-24 hours and that is excessively

[Gotottack]

Transactions that compensation a larger number of charges are quicker than those that compensation less expenses it's typical yet that is not the issue. The issue is the time it takes. For instance if the exchanges with higher expenses paused for a moment and those that compensation less took two hour

it would be justifiable. Be that as it may, the issue is that there are exchanges that are taking 12-24 hours and that is excessively

Didn't understand the first sentence, but I think what it meant was that the higher the fees then the faster it will confirm. Yeah, time is really a problem here, as if you want to pay a low fee then that means you have to wait ages before it confirms. Back then I used to just fix 0.0001BTC as my fees, and it will confirm within 24 hours, but now it doesn't cut it any more.

[myleday]

The value of bitcoin has been on the rise, and our transfer fees are on the rise. It would be great if we could make a quick and reasonable charge. I'm looking forward to it

[genos]

I am quite concerned, because first of all, the fee is not stable. It is around 400-800 Satoshi/byte now, but there is no guarantee that it will not rise to 2,000 or 3,000 Satoshi per byte after a few months. And what if the exchange rates will increase from the current rates of $1,800 to $10,000 per coin? Will you pay $10 for a single Bitcoin transaction?

no i will not,  I usually make bitcoin transactions with small amount. If I should pay 10 dollars for every small transactions i think it's too expensive for me.
For nowadays fee of bitcoin transactions is very cheap and till controlled

[Osarman]

The current cost of a transaction with the bank about $0.4 If domestically and $7.47 if we send abroad, only about $0.2 bitcoin transactions so I think it is very fair.

you are right that bitcoin transaction fees is much more lower than bank transaction fees and i think bitcoin transaction fees is .0005 btc so its very lower and bank charges is very much higher and we can see that there is no tax apply on bitcoin.

[KingdomHearts]

The current cost of a transaction with the bank about $0.4 If domestically and $7.47 if we send abroad, only about $0.2 bitcoin transactions so I think it is very fair.

you are right that bitcoin transaction fees is much more lower than bank transaction fees and i think bitcoin transaction fees is .0005 btc so its very lower and bank charges is very much higher and we can see that there is no tax apply on bitcoin.

i also use bitcoin wallet more than bank wallet because bitcoin transaction fees is very much lower and other thing is that bitcoin increasing its price day by day and my money also increasing its value in bitcoin and and i think saving your money in bank account is not profitable and bank fees charges is also too much high so i mostly save my money into bitcoins.

[South Park]

For me, anything that charges about 2% for every transaction would be fair, especially if it confirms in real time. Now if bitcoin transactions can be made faster without increasing the fees too much then it is like fairy tale come true. But there are those who are benefitting from these high fees and they are not going to let go of such earning opportunity that easily.

True but since the only thing that motivates them is money, then for them to approve a solution that improves the speed of the transaction then they need to think they are leaving money on the table by not confirming transactions fast enough and that is going to happen when bitcoin keeps getting more users.

[Jalum]

I would like to state that Bitcoin transactions are really fair to the people that know how to use Bitcoin. Since the people that use Bitcoin like to get information from the guys that don't know what they are talking about then it's pretty known that they won't know how to spend Bitcoin properly.

[Palodar]

I would like to state that Bitcoin transactions are really fair to the people that know how to use Bitcoin. Since the people that use Bitcoin like to get information from the guys that don't know what they are talking about then it's pretty known that they won't know how to spend Bitcoin properly.

It's fair since bitcoin were really increasing, its fair when we feel what we pay , I mean if we pay high fees we should get a good service like making the confirmation fast as it could,but sometimes it does not happen.

[mornabo]

I can not imagine the expensive fee when bitcoin prices continue to rise. Of course 10k satoshi will have a very high rate. And of course the fee will be very big. And it will be burdensome for users

[Jasad]

I would like to state that Bitcoin transactions are really fair to the people that know how to use Bitcoin. Since the people that use Bitcoin like to get information from the guys that don't know what they are talking about then it's pretty known that they won't know how to spend Bitcoin properly.

It's fair since bitcoin were really increasing, its fair when we feel what we pay , I mean if we pay high fees we should get a good service like making the confirmation fast as it could,but sometimes it does not happen.

if you don't need the money in hurry then you can use a small fee ,
fair enough, but when you need a fast transaction to be confirmed i think it's not a little bit fair anymore ,
the old bitcoin have even a free of fee right?
people get worry about this situation nowadays include me too.

[botany]

I can not imagine the expensive fee when bitcoin prices continue to rise. Of course 10k satoshi will have a very high rate. And of course the fee will be very big. And it will be burdensome for users

At some point, people will just shift to altcoins or use some side chains. Already, people from third world countries have been crowded out of using bitcoin transactions, because of the high transaction fees. At one point, even first world countries will feel the pinch.