Is bitcoin transaction fees fair?

[ocid]

Everything will feel fair if the transaction costs do not see the size or size of the transaction because the perceived current transaction costs will be great if we make large transactions as well.If all transactions equated both transactions in large and small amounts of transaction costs that do not change then it is new that is called fair.

[S4pta]

I think the cost of a fair bitcoin transaction ... because wherever we trade and the trades of goods and trades goods ... and bitcoin only cut 0.3% for sale and purchase transactions. .. in my opinion not too expensive ... thanks

[danherbias07]

For me it is just enough.
Because of the higher value of bitcoin now they should also increase it.
There will be a lot of traffic when bitcoin users will be transacting small amounts of bitcoin so they better make it larger to save the fees.
It is a good thing. We will be forced to keep it as it grows.

[SoulBargain]

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.

Yeah. I really hate how high these fees are. Unlike what is in the past where Bitcoin is such a good way to transfer money due to low fee but now it seems like greediness is taking over the real essence of bitcoin to be a way to transfer money cheaply and have more financial freedom seems like disappearing.

[Donkenoe]

The transaction fee right now is too big, miners are satisfied with it of course, since they can now mine and afford more space for profit with the halving and the decrease in the BTC mined, but with both the increase in fees bitcoin price and USD value allow them to get more profit, and some mining equipment which became expired and negative ROI are now working again.

[thisappointed]

The fees of bitcoin is not fair because what if you are just a small timer and you will just send at least 0.005 bitcoins to your friend as a payment but the fee is over 0.001 then it is very frustrating because the fee is so high and it cut a very huge amount from the original which is such a disappointment for a small timer like me.

[iqlimasyadiqa]

The fees of bitcoin is not fair because what if you are just a small timer and you will just send at least 0.005 bitcoins to your friend as a payment but the fee is over 0.001 then it is very frustrating because the fee is so high and it cut a very huge amount from the original which is such a disappointment for a small timer like me.

Now the fee does look unfair. Because the greater the fee incurred because we must be able to conduct transactions in a fast time. There must be a solution to make things better. In the end the shipping cost should be smaller and we can also do various transactions comfortably.

[virtualdn]

The way they are now, Bitcoin fees don't look very fair, because they are very high. I hope this will change after August 1 and BTC will also be more used widely.

[TastyChillySauce00]

The fees of bitcoin is not fair because what if you are just a small timer and you will just send at least 0.005 bitcoins to your friend as a payment but the fee is over 0.001 then it is very frustrating because the fee is so high and it cut a very huge amount from the original which is such a disappointment for a small timer like me.

Now the fee does look unfair. Because the greater the fee incurred because we must be able to conduct transactions in a fast time. There must be a solution to make things better. In the end the shipping cost should be smaller and we can also do various transactions comfortably.

That's the main problem with blockchain, the transaction fee depends on how large your transaction size is and not depends on how much the amount of bitcoin you'll send, that's why even if someone sends about 10BTC at the same time but if the size were approximately 226bytes, he'll be required to use fee as small as 0.0008. A good thing for those who always send bitcoin with huge amount and a bad news for those who only make micro transaction

[Adbitco]

I think it's not fair, it might offend some people but I would like fee to be abolished completely. Fee shouldn't be treated like a miners incentive to confirm the transactions after all miners already earning good amount of bitcoin for whatever they are doing. And if something like that can't happen, transactions should be confirmed on the basis of first come first serve instead of high and low fee

[ppaul15]

fees are calculated via the use of satoshis so whilst the bitcoin prices rises the costs grow to be greater luxurious, as nicely there's any other issue that makes the transactions will become expensive. The variety of unconfirmed transactions, so one can have a quickest affirmation, you may want to pay a higher charge of satoshis that is why the bitcoins transactions emerge as greater steeply-priced when the rate of bitcoin rises.

[Mr.grin]

Well, sometimes I feel it's too expensive, but if it's not like that, I think it will be very much unconfirmed from the transaction, so I think it's fair, well, the important thing is the speed of the transaction.

[Mia Wallace]

as of now? DEFINITELY NOT. One thing that attracted me to bitcoin is the very low transaction fee. was only a few cents when I got into bitcoin. now? a couple of dollars. even worse than paypal in terms of usability.

To be frank there is nothing anyone could do about it,it is the situation we are dealing with for a long time now and we knew that the transaction would get delayed with more users,lets see how it will be settled and until then miners will be having a good time collecting all the fees.

[Hutalar]

Nope. I'm out here sometimes paying a $20 fee for a $200 transaction

You paid that much fees? 10% of the total price is absurd. Maybe what happened here is that your transactions had so much input and so much out puts that cause the price of the fees to increase by this much. So far, I transferred $800 and just paid about $5 in fees which is already the best fees at the time to confirm the quickest time as possible.

The above person had paid a very high fees. I think he got something wrong because if he would pay $5 for his $200 then it was also a very best fees cost and in that $5 fees he would got his transaction completed within a few minutes. I also pay less than$5 fees for any transaction and it completes within a few minutes.

[aso118]

as of now? DEFINITELY NOT. One thing that attracted me to bitcoin is the very low transaction fee. was only a few cents when I got into bitcoin. now? a couple of dollars. even worse than paypal in terms of usability.

To be frank there is nothing anyone could do about it,it is the situation we are dealing with for a long time now and we knew that the transaction would get delayed with more users,lets see how it will be settled and until then miners will be having a good time collecting all the fees.

Miners could probably make more (in absolute terms) if the blocksize is increased. If we go to 4 mb blocks, then there will be 4x times the number of transactions, but fees would probably not fall to 25% of current fees. It could work out favourably for both users and miners.

[ekans45]

For me its really not fair for a high fee in many bitcoin wallets but i already use bitcoin wallet that has a really fast transaction that sounds fair for a few cent fee but having a high fee for a really slow transaction is really not unfair for us we are paying fee's and didnt get a fat transaction we wanted and there are so many confirmations needed.

If we are going to focus on just the value of fee we can totally say that the fee is quite unfair for a small amount of transaction. But if you are going to analyze every transaction you will made you can lower down the fee on making big transaction at one so it may trim down the particular percentage of fee. For bitcoin transaction it may be developmental because we all know that bitcoin always changes its transaction , security and price so the development of the fees may also happen.

[voltesbit777]

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.

Bitcoin transaction fee's so far is not being fair actually, but we community of bitcoin can't do anything from it.
Depending on the exchange like in yobit each withdrawal transaction was 0.0015BTC, while in bittrex was 0.001BTC something like that.

[FlightyPouch]

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.

Bitcoin transaction fee's so far is not being fair actually, but we community of bitcoin can't do anything from it.
Depending on the exchange like in yobit each withdrawal transaction was 0.0015BTC, while in bittrex was 0.001BTC something like that.

Why do you think it is being unfair? With the current price of bitcoin don't you think that the fee is good enough? I think this just make us realize not to make transaction with few amount, make a transaction when you are sending big amounts and with many recipients. If you send a small amount of bitcoin, you will be really suffering the FEEpocalypse.

[Sithara007]

Miners could probably make more (in absolute terms) if the blocksize is increased. If we go to 4 mb blocks, then there will be 4x times the number of transactions, but fees would probably not fall to 25% of current fees. It could work out favourably for both users and miners.

If the transaction fee is low (and if the confirmation happens quickly), then there will be more transactions and the total fee per block would see a significant rise. But most of the miners are short-sighted and they are against increasing the block size.

[stompix]

as of now? DEFINITELY NOT. One thing that attracted me to bitcoin is the very low transaction fee. was only a few cents when I got into bitcoin. now? a couple of dollars. even worse than paypal in terms of usability.

To be frank there is nothing anyone could do about it,it is the situation we are dealing with for a long time now and we knew that the transaction would get delayed with more users,lets see how it will be settled and until then miners will be having a good time collecting all the fees.

Miners could probably make more (in absolute terms) if the blocksize is increased. If we go to 4 mb blocks, then there will be 4x times the number of transactions, but fees would probably not fall to 25% of current fees. It could work out favourably for both users and miners.

If we go up to 4mb block we will have more than 4 timess the space.
I really doubt that we will go fill those up faster than in  6 months time.
Where would those tx come from?

Till then probably the fees will go way below 100 satoshi/b.
Probably the miners will lose in the first few months more than 50% of their revenue from tx.