Is bitcoin transaction fees fair?

[richardsNY]

I think a transaction fee increase by Bitcoin value is necessary. Because high fees are equivalent to the speed of the transaction will be faster. Besides, the transaction fee is never higher than the external transaction fees since it shows that it is the only transaction option at the moment. Also, the money you earn is certainly many times more than this fee

I think you have to understand what the difference is between transaction speed, and confirmation speed. In most cases the transaction speed is near instant, while confirmations heavily depend on the hight of the fee in relation to the satoshi to byte ratio. Currently the average fees have dropped significantly. Also, what do you mean with the transaction fee never being higher than the external transaction fee?

[deisik]

transaction fee is really fair.

Good to hear that you find the transaction fees is fair and square while the rest of the bitcoin world or the majority of users think that it is really huge as bitcoin's vision is not to be like this,it should be much lower than visa transactions or any other mode of transactions but sadly that is not the case now as you have to shell out more money

People who are claiming that these fees are fair are insane and right out of their mind

Anything which comes from a monopoly cannot be fair by definition. Basically, the very definition of monopoly itself is the opposite of the definition of fair. If anything, Bitcoin transaction fees could be called fair if there was a competitive market not only for Bitcoin users paying the fees but also for Bitcoin miners charging them. Anyone who is claiming that since you agree to pay them and no one is forcing you to do so and therefore it is essentially a free market is either outright clueless or just hypocritical

[Caelanpelley]

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.

Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.

[stompix]

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.

Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.

There was never a correlation between bitcoin price and the tx amount.
Never.

Just like now the fees have dropped more than 30% with bitcoin still hovering around 2500$ in the last week.
And tx with fees as small as 0.5 satoshi per byte are getting through, just check the last blocks.

The fees are just climbing and going down based on the amount of people sending transactions.
Nothing to do with the price.

[8Habits]

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.

Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.

Paying bitcoin transcation is really fair because they too have invested a portion of their assets to make the mining into reality and for the common good of the entire bitcoin community. Hence, we should think of fee as our way to say thank you for handling my coins with integrity and safety.

[Rufsilf]

It is fair for me because if bitcoin transactions are not fair then it is already adjusted by the people in charge in declaring the amount of fees of bitcoin. Bitcoin transactions need fees because of the demand of the miners for additional profit aside from their primary income so they will continue working for bitcoin and not to migrate to another coin.

[8Habits]

It is fair for me because if bitcoin transactions are not fair then it is already adjusted by the people in charge in declaring the amount of fees of bitcoin. Bitcoin transactions need fees because of the demand of the miners for additional profit aside from their primary income so they will continue working for bitcoin and not to migrate to another coin.

Well, since bitcoin is not governement regulated, then what we can really do with some price manipulation is to just use it at our advantage. As what the saying goes, if you cannot beat them, be with them. Therefore, whe we see that there is drastic slow in altcoin prices, then maybe it is high time to buy them cheap as these moments.

[Hamphser]

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.

Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.

When we do make micro transactions then fees would really hurt a lot since we do know its high already and making small transfers wont really be worth it at all because it will be just eaten up by fees but comparing the amount fee in the past i can say that the fee as of the current lowers down again compared to 0.0015 in the past which is really insane but now its backs to 0.0004 average

[8Habits]

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.

Yes, that is true. The bitcoin price in the market is increasing, I think accompanied by the bitcoin fee also increased. This can be called fair. You will benefit when paying large amounts of bitcoin,But when paying small amounts, the fee may be higher than the transaction value.

When we do make micro transactions then fees would really hurt a lot since we do know its high already and making small transfers wont really be worth it at all because it will be just eaten up by fees but comparing the amount fee in the past i can say that the fee as of the current lowers down again compared to 0.0015 in the past which is really insane but now its backs to 0.0004 average

You are correct mate and I suggest that you only cashout at least a minimum of .1 btc is the way to go so that you will still get some descent amount of coins even with some fees of their services out there.

[Zicadis]

It is fair for me because if bitcoin transactions are not fair then it is already adjusted by the people in charge in declaring the amount of fees of bitcoin. Bitcoin transactions need fees because of the demand of the miners for additional profit aside from their primary income so they will continue working for bitcoin and not to migrate to another coin.

Well, since bitcoin is not governement regulated, then what we can really do with some price manipulation is to just use it at our advantage. As what the saying goes, if you cannot beat them, be with them. Therefore, whe we see that there is drastic slow in altcoin prices, then maybe it is high time to buy them cheap as these moments.

As bitcoin users we dictate how much fees we pay because Bitcoin has no interference from a central power like the government. Bitcoin fees were flying high because of spam transactions which forced everyone to pay the prices but things seem to getting back to normal as segwit2x is still being rolled out.

[JohnBitCo]

Bitcoin transaction fees are only fair if your transaction is big but if you will only send 0.01 and you need to pay for 0.001 for the fee then that's unfair. And sometimes even if you pay a highers fee the transaction still takes time and that is frustrating.

Right, compare with Paypal, you send a small amount, you pay a small fee. But in Bitcoin, it enables you to send a very big amount of money just need to pay a very small fee (compare with the payment size) so, Bitcoin is still usable when you make  big payments

During the early days of Bitcoin, it was supposed to be the other way around. Back then, the ease of doing micro-payments was considered as one of the advantages of Bitcoin. But with the current fee levels, it is no longer possible.

Fair, yes.  Each and every one of us sat here three years back or more and could have started an exchange with little legal paperwork and almost no money, less than $50,000.  Myself included, we didn't do that

[mrayazgul]

transaction fee is really fair.

Good to hear that you find the transaction fees is fair and square while the rest of the bitcoin world or the majority of users think that it is really huge as bitcoin's vision is not to be like this,it should be much lower than visa transactions or any other mode of transactions but sadly that is not the case now as you have to shell out more money.

He said fair.
And yeah the fees are fair. It doesn't mean they are accessible or that your should agree with them.
The basic is that the fees are decided by the users not by some government or unknown entity.

Are people paying those fees? Yes they do. Are they willingly paying them, yes they do, nobody has a gin to your head.
And the fees just went up, fueled by the free market.
Fair and square.

Those fees are what the exchanges charge based on the simple and age old economic adage and principle, "Charge what the market will bear."  People can afford to pay thats why they are charging the fee.

[ModGirl]

Bitcoin transaction fees are only fair if your transaction is big but if you will only send 0.01 and you need to pay for 0.001 for the fee then that's unfair. And sometimes even if you pay a highers fee the transaction still takes time and that is frustrating.

Right, compare with Paypal, you send a small amount, you pay a small fee. But in Bitcoin, it enables you to send a very big amount of money just need to pay a very small fee (compare with the payment size) so, Bitcoin is still usable when you make  big payments

During the early days of Bitcoin, it was supposed to be the other way around. Back then, the ease of doing micro-payments was considered as one of the advantages of Bitcoin. But with the current fee levels, it is no longer possible.

The fee levels are high for sure for the lower transactions but the charm and importance of Bitcoin does not finish. Its absolutely the right thing. Because its exchange rate increases day by day. And countless people use Bitcoin for their payments. And it’s the better than many others. The whole world is taking out benefits from this and they are satisfied with it.

[aoihs00]

Mining fees is not about the price of bitcoin. Mining fees are related to miners and the difficulty of network. They have got nothing to do how much money is being invested into bitcoin/ Miners have to cop up with the difficulty and the more it becomes the more fees you will have to pay for less or high.

[ss890]

I feel they are fair because of today's increased demand of bitcoin. The use of it has increased way lot more than one could imagine and the miners are having difficulty in solving the blocks due to insufficient or little backward tech support. The problem is network difficulty which makes miners to get more fees to process the request. More time to mine means more energy and time consuming process. So may be it's fair unless and until everything goes smooth.

[Sweetbtc]

If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.
 

[Netnox]

If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.

There is no other choice. Some people may be having no issues in waiting 2-3 days until the payments get confirmed. But in most cases, the users will be quite desperate to move their funds and they will be forced to pay the high fees.

[richardsNY]

If we want to stop the fees, then we would have to stand together and not pay them until they dropped, but we keep paying them and by accepting them, we approve them.

Main point of importance is that quite some people don't mind paying a relatively higher fee as they only work with larger amounts. Most of the people that keep complaining about the fees are those that send $10-$20 from one place to another. If you pay $2 in fees for a $20 value transaction, it seems like a huge fee. But if you transfer $1000 from one place to another, the same $2 fee will be nothing more than peanuts. People tend to exaggerate the fee situation, while in reality it all depends on how you look at it.

[MainIbem]

The fees are a problem to me also. The transaction fees ought to be fixed. But i this case it is a percentage to the amount. It is not fare. Miners has to do something about this high fees.

[PELELE]

Yes, transaction fees of bitcoin is reasonable compared to other payment gateways. It is one of the wonderful features from Bitcoin. Why still people are thinking like transaction fees are fair or not. Based on the amount, the transaction fees are varies, it's truth.