Is bitcoin transaction fees fair?

[xbl1008]

i think its pretty fare for it yet its still cheap because bitcoin is just starting its adoption to the masses and soon all will be using bitcoin as form of payment, it would be good for the ones who invested early on because when this happen they will reap its profit

[Hach]

I think it's fair since miners number is growing and bitcoin price is multiplied many times.

[jennywhzz]

Well of course you have to pay fee after every transaction you can say its your tax.There's nothing free in this world and if we talk about these fee probably we're paying to much low fee.  Lets see other like PayPal they applied 0.70$ PER transaction ( if you're using business account ).  Sometimes the fee looks more if you are giving / sending small amount of satoshi as payment. Also the bitcoin current price is high so the fee is same but when calculated in USD seems more than usual.

[8Habits]

Right now I'm really stuck with the transaction fee. Because I'm a poor person and $ 1 to 5 $ is a great thing I'll exchange it with our country's money. So the transaction fee for me is not fair but because we can not do it. So let it go, I hope it will be resolved and stop. so that we can freely use bitcoins. Because really much money is missing from me everyday when I go to another wallet

C'Mon, man! You are senior member, you must be aware of the latest trend in fees. There is no need to send transaction fees of $1-$5 for a transaction to happen. The fastest and cheapest transaction fee is currently 140 satoshis/byte. For the median transaction size of 226 bytes, this results in a fee of 31,640 satoshis. That accounts for $1.5. That is fastest transaction fees. Your transaction can very well happen with the fees <$1. It won't even take much time. For blockchain to keep running securely, this much incentive is indeed required for the miners.

I just want also to point it out that the bitcoin fee amount is not really fixed and it keeps on changing from time to time. You can further check it here: https://bitcoinfees.21.co - my advice is to bookmark that site as it comes handy especially if you really badly needed the money and would like very fast transactions with a just fee and not necessarily big amount of fees as it should be.

[learner 7]

We have no choice in this matter, and we pay the network commission. My opinion is that the network commission is quite high.

[Francer]

the concern isnt the tx costs being as well higher, its the tx occasions also long.. if every person refused to pay high tx fee and just compensated the min, the costs would be minimal.. but the tx times would remain the identical..

[jonatuzc]

of course not. I think the bitcoin is directly proportional, so every price rises, then the fee we have to spend will also rise, as well as other needs other. I think it all happened because the number of transactions increased due to the very active market.

Everything is fair - as long as you are earning big money out of your bitcoin thing, bitcoin transaction fee is not really a problem. It would only be unfair if only us will benefit from it and at the expense of the bitcoin miners. Yes, I agree that the transaction fee is proportional to how bitcoin price is going up or down and the law of demand and supply is in application with bitcoin transactions.

The price of the transaction may not depend on the number of bitcoins you listed. The transaction volume does not change. It seems to me that this problem can be solved if there is a possibility to buy goods with bitcoin. We will save a lot of money to convert to Fiat and payment transactions will cease to be a problem.

I fell the transaction fee is fair but a little high than the others. I appreciate the role of controllers and authorities of taking care of such digital accounts. If there is no such service provider then there will be no bitcoin and no other digital currencies. It is all about the companies who give you the trust that your money is in safe hands and on demand they will send you in minutes.

[Jeger.Kiting]

I think it's natural, because it looks like the current Bitcoin price is very high, because the current cost is not too big with what we've sent, so do not feel the loss of your shipping request will be fast in the process with the miners, then on the one hand no one will injured by it.

[btc78]

For me i think its fair so far. Because compared to others bitcoin has the lowest transaction fee in our place,hope the others has same too.but i dont know if this would last for how many years.and wish that it will remain same percentage to be reasonable

[DoublerHunter]

I think it's natural, because it looks like the current Bitcoin price is very high, because the current cost is not too big with what we've sent, so do not feel the loss of your shipping request will be fast in the process with the miners, then on the one hand no one will injured by it.

I agree with you, it is all about the speed of transaction that you have been paying for and if you want to have a faster transaction like for waiting for at least 20 minutes then you can just pay the recommended fee or the high fee so you can have a faster transaction and the rate of the fees are fair because they are created based on the profitability for the miners so everybody in bitcoin will stay and not leave the community of bitcoin.

[yugyug]

transaction fees are paid to the miners where they are one who made a signature block in every transaction and based on the current hash rate and mining difficulty which take a lot of power to process bitcoin, i think that fee is fair. The rate is fix regarding of any amount, but for small amount of bitcoin like microbtc it is not suitable for that fee, but their are other option, you can have a small fee for micro transaction but the priority of taking the priority is less, like waiting for more than 4 hours.

[zeaderza]

of course not. I think the bitcoin is directly proportional, so every price rises, then the fee we have to spend will also rise, as well as other needs other. I think it all happened because the number of transactions increased due to the very active market.

Everything is fair - as long as you are earning big money out of your bitcoin thing, bitcoin transaction fee is not really a problem. It would only be unfair if only us will benefit from it and at the expense of the bitcoin miners. Yes, I agree that the transaction fee is proportional to how bitcoin price is going up or down and the law of demand and supply is in application with bitcoin transactions.

I think the transaction fee depends upon the price of bitcoin. If the price of bitcoin low the transaction fee will be low and if the price high then transaction fee will also high because the charges is in bitcoin and not in dollars or any other currency. Just like in this forum. The contractors pay in bitcoins and not in the dollars. Your earnings totally depend upon the price of bitcoin.

[wellsontheja]

Transaction fees are paid to the miner where they made a signature block. In every transaction and based on the current hash rate and mining diff which taje power to process bitcoin.
So i thought the fees are enough fair .

[mykha]

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.

that is fair for me, but sometimes it must be lowered as to the point that the reciever may enjoy his or her coins

[Redanim]

Fees was low because of low price bitcoin, bitcoin got unreal price and fees are too high now, thats simple, but of course nobody dont like to spend big fees to nobody, but its reality, you need pay for something or u will not get nothing.

[Wipro]

Transaction fees are paid to the miner where they made a signature block. In every transaction and based on the current hash rate and mining diff which taje power to process bitcoin.
So i thought the fees are enough fair .

Now all the wallet have the decent amount fees in everywhere. You doesn't need to worry about fees at all. If you think that fees is only for miners you might be fool to think like that.
Certain amount will amount will goes to network pool and and the balance amount only moves goes to the miner who runs their miner machine to transfer the bitcoins from one place to another.

[manoj kumar k]

yes the bitcoin transaction fees is fair because the bitcoin value is increaseing and to get these bitcoins the miner has to work carefully

[danggoron]

so in my opinion, it is a fair, mutually beneficial relationship.

miner, trader, and fee form a symbiotic mutualism. these costs exist to provide incentives to miners to process transactions, because the larger the size of the transaction then to process it takes more time and electrical energy. Transactions with higher costs tend to be processed faster while transactions with low or no cost costs will be processed more slowly.

[8Habits]

so in my opinion, it is a fair, mutually beneficial relationship.

miner, trader, and fee form a symbiotic mutualism. these costs exist to provide incentives to miners to process transactions, because the larger the size of the transaction then to process it takes more time and electrical energy. Transactions with higher costs tend to be processed faster while transactions with low or no cost costs will be processed more slowly.

Yes I think it is really fair because miners do play a very important role of making each bitcoin transactions more credible and with integrity. Without them and their huge capital to invest to technologies and facilities, there is really hard time to make our transactions get through in the most fastest manner we would want it to.

[shield132]

so in my opinion, it is a fair, mutually beneficial relationship.

miner, trader, and fee form a symbiotic mutualism. these costs exist to provide incentives to miners to process transactions, because the larger the size of the transaction then to process it takes more time and electrical energy. Transactions with higher costs tend to be processed faster while transactions with low or no cost costs will be processed more slowly.

Yes I think it is really fair because miners do play a very important role of making each bitcoin transactions more credible and with integrity. Without them and their huge capital to invest to technologies and facilities, there is really hard time to make our transactions get through in the most fastest manner we would want it to.

You act like miners are very poor and it's really positive chairity to pay them much in confirming of transactions. oh man, now it's normal but when I opened thread it was incredible, there was a need of paying really huge fees. How can you call it fair? Because it's low currently? Will you say the same if recomended transaction fee will be 4x more? If you wish pay more than recomended.