Is bitcoin transaction fees fair?

[nexus99]

I think that bitcoin transaction fees are perfectly sensible. It's highly logical that the fees have grown with btc price increase. The higher the profit, the bigger the fees. After all, this is also one of the ways of rewarding miners for the transactions, so it's pretty reasonable that the fees get higher with the overall growth of the network

[Coffee135]

I think that the bitcoin commission is too high, but compared to other currencies, its price increase is much larger and it justifies such a high commission. It is more profitable to use it as an investment, and not as a currency.

It seems to me that is a disaster for bitcoin. Use it as investment causes a permanent increase in the price of the coin. This leads to the fact that someday might just have a big dump and all investors will lose their money.

[shine1123]

The minimum fee required for instant confirmation is around 200 to 300 Satoshi per Byte as of now. And this comes to around $2 to $4 per transaction. Even if you compare to the fee charged by Paypal and Visa, this amount is exceptionally high.

This, if you compared to other online currencies like Paypal and Western Union, the fee is so damn ridiculous big and if your transaction is big the fee also big but in bitcoin if your transaction is big either small, the fee still same around $1-$4 per transaction. I think the fee on bitcoin is quite fair.

[MattHoo]

No. I feel like it is a little bit high as the transactions fees raised a lot lately .    Do you agree? I expect a huge drop of fees.

[Manuj]

One thing I would like to talk about is that when I see low fees, I tend to send more transactions. Now when I see fees too high, I tend to wait and wait for a one bigger transaction.

When we do not really need the money and that we can cover our expenses with our fiat money, it would be wise not to use bitcoin with this scenario and you can getaway with he transaction fees. However, if you want to trade, then you have to decide and target gain that covers also the expenses.

That is right. Constantly moving your bitcoin from one wallet to another or withdrawing them for unnecessary transactions will only incur transaction fees. Avoid them if necessary. If you need to withdraw then it is good to withdraw more than enough to avoid another withdrawal in a little later.

[xFiber]

Bitcoin transaction fees are fair. They are actually the best you can find anywhere for the kind of transactions you make online. Take a look at paypal charges or payoneer and you won’t need an omega to prove to you that the fees are the best.

What are you even talking about? PayPal's fees really depend on the situation. If you're sending to a family member the fee could be a couple of cents but if you're sending to something else it can take up to a dollar (which is completely fine). But when it takes up 12+ hours  to receive as little as 1 confirmation with a 1.13$ fee something is wrong. I  probably have to increase the fee to 2$ to get it to confirm today.

[Doamader]

In the general yes, but with the spam attack again over bitcoin it does sounds like an abusive fee, since we can move money but we need to compete with all others transactions. With the spam attack at bitcoin we can see fees raising a lot, and with that I do see a forced way to raise the block transactions, something we need into bitcoin to avoid in the future another spam attacks.

[BitcoinHodler]

Bitcoin transaction fees are fair. They are actually the best you can find anywhere for the kind of transactions you make online. Take a look at paypal charges or payoneer and you won’t need an omega to prove to you that the fees are the best.

What are you even talking about? PayPal's fees really depend on the situation. If you're sending to a family member the fee could be a couple of cents but if you're sending to something else it can take up to a dollar (which is completely fine). But when it takes up 12+ hours  to receive as little as 1 confirmation with a 1.13$ fee something is wrong. I  probably have to increase the fee to 2$ to get it to confirm today.

the bitcoin fees are "necessary" even if they seem unfair at times.
you always have to consider everything not just what you like. of course we all love free translations that are confirmed in a blinking of an eye but we can't get everything we want in life. there are always people exploiting the system (the spam attack) and ruin it for all of us.

[aarons6]

the only way this fee system is going to be fair is if they split it.. 50% of the tx gets highest fee first, the other 50% is FIFO.


right now there are 70k unconfirmed, the fee is going to get really high to send anything.

[farwellbit]

Looking at it critically, bitcoin fees aren’t too cheap, but they are better at least than other payment processors. The only thing that should bother you is the speed at which it is being transferred. If you’re paying a low miners fee for transactions then its going to be slow.

[azaid18]

yes the transaction fee is very high . we cannot really afford it it cost a lot. and slow receiving

[JamesR1]

it is not fair now but the coming hard fork will fixed a little , let us wait and see .

[BITDV]

I think you can get bitcoin in this bitcointalk forum, you can participate in some camps in bitcointalk forum, you participate in signature campaign if you don’t have any special skill, if you have skill like making video or to write articles then you can participate in Campaigns Articles, Videos and Blogs Bounty, if you have participated with some of your campaign you just wait until the end of the campaign and you will get paid from the campaign

[8Habits]

Looking at it critically, bitcoin fees aren’t too cheap, but they are better at least than other payment processors. The only thing that should bother you is the speed at which it is being transferred. If you’re paying a low miners fee for transactions then its going to be slow.

A fair view of the Bitcoin fees. The beauty with bitcoin transaction fees is that we can decide how much are we willing to fee for the transaction and if we are not that on a hurry, we can just pay for a little transaction fee while if we want the sending to be fast, then we can set it to higher fee.

[stompix]

And again for the n time in the row it has been proven that fees have nothing to do with the price.

We are currently sailing past the ATH and fees are dropping like a stone.
The fee recommend buy websites is down from almost 510satoshi/b to a more realistic 310satoshi/b as I write this.

So , fees are clearly determined by one thing, amount of free space in the blocks.
Of course, some try to manipulate this by spamming the blocks but in the end the main idea stands firm.

Fees are fair, dictated by the free market.

[dasana212]

In my opinion, fee tx occur as now still quite fair. Indeed, when viewed in fiat form value is quite huge. However, i feel no objection because in principle i need fast confirmation process for buy or sell transactions against fiat. Rather than low, but very slowly confirmed.

[bubblebit]

You have great observation than most person that complained about high transaction fees but never try to understand why. But your suggestions is not that good for me to make high fees for low price. So I stand to my understanding about this issue. Our local wallet providers have low fee much lower than coinbase transaction fees. So it's need to have better wallet for a better experience and more bitcoin to enjoy with.

[8Habits]

In my opinion, fee tx occur as now still quite fair. Indeed, when viewed in fiat form value is quite huge. However, i feel no objection because in principle i need fast confirmation process for buy or sell transactions against fiat. Rather than low, but very slowly confirmed.

Not to mention the bitcoin's ease of use in our online transactions like for example with gambling - when you are depositing some bankroll with fiat money, you are presented with few lists of requirements and after you send it to them, you will going to wait for their approval before you finally make a deposit to be use for your bankroll - this may go for days or even weeks before you are going to be approved. Whereas with bitcoin, you can play instantly right after a few seconds of signing up to online casinos that primarily accept bitcoins as bankroll.

[Akash1243]

I do think it's fair amount of transactions fees if you have seen bitcoins current value.As we can also chose the transactions fees based on our urgency.But transactions fees $5 for micro transactions might be high but if you trade about 1 btc or so then this transactions fees is nothing.Transactions fees are main as miners work for it if they find mining bitcoins got profitable then they could shift to others coin. And stop complaining about high fees even though when its not that high.

[aarons6]

I do think it's fair amount of transactions fees if you have seen bitcoins current value.As we can also chose the transactions fees based on our urgency.But transactions fees $5 for micro transactions might be high but if you trade about 1 btc or so then this transactions fees is nothing.Transactions fees are main as miners work for it if they find mining bitcoins got profitable then they could shift to others coin. And stop complaining about high fees even though when its not that high.

its not that the fees are high right now.. its the fee model is broken.

when someone can up the fee by sending a lot of transactions with a high fee and essentially bump everyone else off the confirmation list after they sent the transaction, it's not fair.
the fee right now is ok cause the transactions are low.. you can send with .0001 and still get in the next block.. but as the transactions go up, so does the fee, and if it goes up enough you will never get confirmed.. there is a lot to complain about.