Is bitcoin transaction fees fair?

[deisik]

No, it's not. Bitcoin transaction fees are not fair. They are not good either to attract more bitcoin users. And the last thing we want right now is people to lose trust in an invention that has already gained fame but is still very young. Bitcoin is still getting to its top place. Transaction fees is one problem that pull it down. Although I am very positive that it will be settled in due time very soon.

I think when bitcoin cap is removed - there will be no limit of maximum bitcoin of 21 million coins, then I guess transaction fees will go down but if there is a max cap, transaction fees will go to the roof.

Why should the Bitcoin cap get removed?

I understand that what is done by one human (in this case Satoshi Nakamoto) can be undone by another human (say, Antinakamoto), but wouldn't that basically mean eventual destruction of Bitcoin? Apart from that, I don't see direct connection between the (limited) number of coins to be mined and the size of the fees. If anything, there are less drastic means to bring the fees down, and which would actually promote Bitcoin adoption (instead of bringing it down if the cap is removed)

[Fishmaster23]

No, it's not. Bitcoin transaction fees are not fair. They are not good either to attract more bitcoin users. And the last thing we want right now is people to lose trust in an invention that has already gained fame but is still very young. Bitcoin is still getting to its top place. Transaction fees is one problem that pull it down. Although I am very positive that it will be settled in due time very soon.

I think when bitcoin cap is removed - there will be no limit of maximum bitcoin of 21 million coins, then I guess transaction fees will go down but if there is a max cap, transaction fees will go to the roof.

Is it possible to get more than 21 million bitcoins? It seemed to me that this number was limited.
The problem with transactions should be solved, since many users repel large commissions. And we now need to involve in the bitcoin community the maximum number of users

[Considered]

Its a relief that bitcoin transaction fee lowered to $0.5 unlike weeks ago that rises up to $5 per transaction. It is now fair and with the coming fork it will be lowered again.

[8Habits]

No, it's not. Bitcoin transaction fees are not fair. They are not good either to attract more bitcoin users. And the last thing we want right now is people to lose trust in an invention that has already gained fame but is still very young. Bitcoin is still getting to its top place. Transaction fees is one problem that pull it down. Although I am very positive that it will be settled in due time very soon.

I think when bitcoin cap is removed - there will be no limit of maximum bitcoin of 21 million coins, then I guess transaction fees will go down but if there is a max cap, transaction fees will go to the roof.

Is it possible to get more than 21 million bitcoins? It seemed to me that this number was limited.
The problem with transactions should be solved, since many users repel large commissions. And we now need to involve in the bitcoin community the maximum number of users

What I meant by this is that the maximum amount of bitcoin in total will be 21 million bitcoins and from there will be no more additional bitcoins as it reached the maximum cap of its total number - when this is reached, mining fee will be very high soon unless if that cap will be removed - I am not just sure if it will be removed though.

[stompix]

What I meant by this is that the maximum amount of bitcoin in total will be 21 million bitcoins and from there will be no more additional bitcoins as it reached the maximum cap of its total number - when this is reached, mining fee will be very high soon unless if that cap will be removed - I am not just sure if it will be removed though.

Why do you think i's going to be high?
It can go to 0 is the blocks are empty.
Miners with low productivity will quit, the rest will find a way to survive.

[followmenot]

I think bitcoin transactions are very very fair. Comparing all other financian instruments basically prove this. It is one of the lowest you can find.

[darkangel11]

They are fair, although I'm worried that they might continue to go up and become unfair. If you think about it, paying $1 in fees is fine, a bit expensive, but you can live with it. $2? expensive, but fine if you're operating on large sums. $4? That would start getting ridiculous. People would start waiting until they have enough money to afford fees, which would undermine one of the main function of bitcoin. The only thing it would be good for is store of value and a way to move large sums overseas.

[BitcoinGirl.Club]

Transaction fees are certainly more than fair if you sending more than hundred dollars  or a million dollars as compared to how much we would be charged by other financial houses for such transactions. As for micro payments i do not think we would say the same because tx fees are on the higher side with them

[Anarchist]

For those doing micro/small transactions, it is maybe unfair compared to people sending bigger transactions. But for those, the simple reality is Bitcoin is not for them and if they want to make a small transaction it is better for them to look for other alternative costing cheaper than BTC. Then the limit between the small and large transaction is up to each people to decide what is their own limit

[stompix]

So, how fair are fees now?

120 satoshi, down almost 4 times since one month ago.
With all the increase in bitcoin price , the fees are still down by more than half.

This proves once for all that there is no correlation between fees and bitcoin price.
It all comes to the size of the mempool

https://blockchain.info/en/charts/cost-per-transaction-percent?timespan=30days&daysAverageString=7

[Rinder]

Now the fees are fair compared with bitcoin value, we all know in the future when the mining will end, fees will replace the current rewards of new blocks, soo till there maybe another suitable solution show off, in any case you can use others altcoins to spend less fees.

[ladydark]

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 fee was not fair before segwit activation.It was very high and only transactions with very high fees are confirmed first and transactions with low fees are just left uncomfirmed or it took around even 20 days for it to get confirmed.But now,after segwit activation which had been the dream of bitcoiners,fees has been reduced considerably.The problem is now almost solved.

[lovesybitz]

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.

When it comes to bitcoin transaction fee charge, they are different percentage. There are some exchanges site that giving high fees and some's are low fee's of charge like example on  bittrex the transaction charge fee's was 0.001BTC while in yobit was 0.001BTC which is really shit. Bittrex is more better and popular than yobit but its insane, isn't?

[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.

When it comes to bitcoin transaction fee charge, they are different percentage. There are some exchanges site that giving high fees and some's are low fee's of charge like example on  bittrex the transaction charge fee's was 0.001BTC while in yobit was 0.001BTC which is really shit. Bittrex is more better and popular than yobit but its insane, isn't?

With gambling sites, there are a few out there that never charges any transaction fees and you get every winning single coin you have because they handle the transaction fee for you and there is no charge at all.

[Blitzboy]

They are very fair right now Bitcoin has been improved and its system is very good. We do not need to pay high fee anymore. Transactions look very fast. hope that we will even get the faster transaction after the november.

[SamsungBitcoin]

They are very fair right now Bitcoin has been improved and its system is very good. We do not need to pay high fee anymore. Transactions look very fast. hope that we will even get the faster transaction after the november.

agree with you mate that transaction fee in bitcoin is fair enough, because we know that the transaction fee is based on the value of bitcoin also, and way back year ago when value of bitcoin is very small there is no transaction fee imposed but when it start to balloon its value and continuous adoption by lots of people the transaction fee was start to increase due to bulk transaction and it very congested that is why they add transaction fees for that.

[kuyaJ]

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.

this show that bitcoin is like a things that of you buy you can sell it at a lower price. The transaction fee is for the tax that we do. It is normal because how can have a sallary for miners? If the miners gone how will be the transactions?.

[ranman09]

They are very fair right now Bitcoin has been improved and its system is very good. We do not need to pay high fee anymore. Transactions look very fast. hope that we will even get the faster transaction after the november.

Hi Blitzboy how does it cost now to transfer bitcoin with fair speed? Now that it has segwit?

[8Habits]

They are very fair right now Bitcoin has been improved and its system is very good. We do not need to pay high fee anymore. Transactions look very fast. hope that we will even get the faster transaction after the november.

agree with you mate that transaction fee in bitcoin is fair enough, because we know that the transaction fee is based on the value of bitcoin also, and way back year ago when value of bitcoin is very small there is no transaction fee imposed but when it start to balloon its value and continuous adoption by lots of people the transaction fee was start to increase due to bulk transaction and it very congested that is why they add transaction fees for that.

Indeed! Bitcoin transaction fee is fair and where do we find transacting our money that has no fee even if we transact abroad and from any parts of the world? If you do that with fiat money, you will be having hard time and the transaction is quite way high than bitcoin.

[fathur.aza]

All need a fee for the transaction, but why now these transaction costs start to rise uncharacteristically, and even then there is still a slow as the confirmation of the transaction had to wait a long time. Whether it can be worth the long wait and sometimes bigger than the amount you go to