Is bitcoin transaction fees fair?

[Nerman]

I think it is very fair, currently the transaction costs around 12k satoshi (I use wallet blockchain.info), or if judged then no more than $ 1 for a single transaction, when compared to banks of course the cost of bitcoin transaction is very small and cheap.

No more than $1 per transaction? A few days back, one of my friends paid $20 for a single transaction and it got confirmed after 4 hours. Don't beat around the bush. Just admit it. The fee is too high, when compared to the other payment mediums such as Paypal, Visa and Master.

This is so true Bitcoin transaction fees right now is rally high. I tried to send $5 worth of bitcoin to buy an altcoin in ICO and the asking fee was $2. I think this is one of the reason why others are shifting to altcoins where fees are way cheaper and transactions are way faster. In a sense high fees are killing Bitcoin. 

[Raegorl]

The fees right now are very high, it really discourages bitcoin usage for small amounts... But the developers are trying to find solutions to fix this problem, i just hope they get it done quickly and don't take too long (if thats the case people might end up prefering some other altcoins unfortunately).

[harizen]

The fees right now are very high, it really discourages bitcoin usage for small amounts... But the developers are trying to find solutions to fix this problem, i just hope they get it done quickly and don't take too long (if thats the case people might end up prefering some other altcoins unfortunately).

Price is increasing so definitely the USD value of fees will increase too.

Let's say for exchanges, in the past they charged 50k to 80k satoshis per transaction. If they will used the same fees today, of course the value of it today is different from what it is in the past. Way higher in terms of USD value. Well we just have to deal with that because we, average bitcoiners, have no choice.

[aarons6]

The fees right now are very high, it really discourages bitcoin usage for small amounts... But the developers are trying to find solutions to fix this problem, i just hope they get it done quickly and don't take too long (if thats the case people might end up prefering some other altcoins unfortunately).

Price is increasing so definitely the USD value of fees will increase too.

Let's say for exchanges, in the past they charged 50k to 80k satoshis per transaction. If they will used the same fees today, of course the value of it today is different from what it is in the past. Way higher in terms of USD value. Well we just have to deal with that because we, average bitcoiners, have no choice.

you certainly do have a choice.. you can opt not to use bitcoin and switch to another coin with fewer fees and faster block times.

[nicoly]

If everything got expensive, so do fee since they are adjusting based on bitcoin value for miner in fair way.

[poplolnman]

I think it is very fair, currently the transaction costs around 12k satoshi (I use wallet blockchain.info), or if judged then no more than $ 1 for a single transaction, when compared to banks of course the cost of bitcoin transaction is very small and cheap.

No more than $1 per transaction? A few days back, one of my friends paid $20 for a single transaction and it got confirmed after 4 hours. Don't beat around the bush. Just admit it. The fee is too high, when compared to the other payment mediums such as Paypal, Visa and Master.

the bitcoin value that makes things like fee per transaction looks so high , few monthss ago when the price of bitcoin only around $700 the fee of 0.0001 worth only $0.6 and considering the price of bitcoin by today are around $7,000 then 0.0001 worth $6 of course it's a high fee especially when you do transaction below $10 it's obviously not fair. that's why some people try to do the hardfork to fix something like this. it's about the block size that limits bitcoin to use low number of transactions per second recently.

[pat4cryptoreal]

All the exchangers have escalated the transaction fee. I do not know the reason. since every thing about cryptocurrency is decentralized no body can actually question the administrations of most of those exchangers.

[DARKANGEL6415]

I see these fees as a huge problem and the biggest obstacle for btc to become a daily used coin.
BTC and the blockchain are relatively new, I'll keep the optimism, and wait that new implements, like the lightning network could solve this.

I agree with the issues on the fees being high for some transactions. Hopefully they do implement the lightning network into bitcoin itself and not some knock off. In any case i keep some ethereum and bitcoin on exchange like coinbase. Then i just get the shift debit card and link it for ability to use on normal everyday spending if i choose.

[BitNoLimit]

yes it is

[dancingnancy]

For me its a bit fair for now. Before I enjoy transacting because there are only a small amount of transaction fee for my transactions thats why I love sending small amount of btc. But now the price is quite rising. One time on blockchain I sent a bitcoin to a gambling site and the fee was freakin high. I was shocked that time ,but it only happened to me one time

Yeah, I'm sure everyone can agree with the fact that the fee of bitcoin transactions is quite justified as compared to other trading vendors. The rate will eventually go up, but it's totally fine to trade with BTC currently, I would vouch for transferring smaller amounts at a time to tackle high fees.

[vasrasus]

I see these fees as a huge problem and the biggest obstacle for btc to become a daily used coin.
BTC and the blockchain are relatively new, I'll keep the optimism, and wait that new implements, like the lightning network could solve this.

I agree with the issues on the fees being high for some transactions. Hopefully they do implement the lightning network into bitcoin itself and not some knock off. In any case i keep some ethereum and bitcoin on exchange like coinbase. Then i just get the shift debit card and link it for ability to use on normal everyday spending if i choose.

Corrections were needed since fees were getting to high each time, some were too scared for fork since they doubt if it will be successful and might affect the price,we need to swe what will happen after fork if it will decrease in fees.

[Zandar]

Since it isn't a permanent figure like 0,1% and they keep changing the figures, it is absolutely not fair. The miners fee is getting out of hand. With more and more unconfirmed transactions going on, they keep stepping up the fee over and over again. In some wallets like jaxx, exodus etc you dont even have much control over the fee, whatever the standard fee at that time is that fee get's shown when you want to do a transaction. Last week I paid 0.004 BTC for a transaction of 0.025 BTC, so yeah, paying over 30$ for a transaction of 150$ should not be called a fee but a robbery instead. It has become nothing but racketeering with the miners as the digitised form of maffia.
My transaction that I'm talking about: https://blockchain.info/tx/c33a27bae2b3d6aeef4de1c99312e27cb0c1307b045345e1939b1c3072fea9f1

[Momoamzad]

I don't find it too high. It actually depends on how much you transfer. Actually as the value of btc is increasing fees is not too much . it is quite okey for me . but bitcoin transfer is so easy than other .

[heureca]

I don't find it too high. It actually depends on how much you transfer. Actually as the value of btc is increasing fees is not too much . it is quite okey for me . but bitcoin transfer is so easy than other .

During BTC forks and etc when BTC net is too loaded the transaction fee may be up to 10-20 $. In my opinion currently BTC transaction fee is rather high comparing with other criptocurrencies (for ex., ETH).

[engrlodi]

For me it is not fair cos its not right. But sometimes it is always depend in the btc waller if it is high or low fee. But for me we need a lower transaction fee to be fair. It is hard for us if we have a big btc and we will convert it to a real money.

[hangar18]

I see these fees as a huge problem and the biggest obstacle for btc to become a daily used coin.
BTC and the blockchain are relatively new, I'll keep the optimism, and wait that new implements, like the lightning network could solve this.

I agree with the issues on the fees being high for some transactions. Hopefully they do implement the lightning network into bitcoin itself and not some knock off. In any case i keep some ethereum and bitcoin on exchange like coinbase. Then i just get the shift debit card and link it for ability to use on normal everyday spending if i choose.

Corrections were needed since fees were getting to high each time, some were too scared for fork since they doubt if it will be successful and might affect the price,we need to swe what will happen after fork if it will decrease in fees.

It just happens when the network has too many transactions and maybe, total workers of Bitcoin can not supply all ability to confirm all transaction normally. Some people can not keep patient will use transaction fees to attract attention the miners mining their block.

[doedz]

If everything got expensive, so do fee since they are adjusting based on bitcoin value for miner in fair way.

What about small traders?
their profits will be exhausted with a fee, very unfortunate. Fee is not worth the transaction.
Yesterday I saw some problems, maybe this kind of demonstration over canceled segwit.

[rodalutor]

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.

The problem of rising fees is one that in time will have to be addressed as if not an alternative coin will offer the same service but much cheaper and that in turn will take money away from bitcoin.

[moli1]

why BTC transaction fees rise..?? yesterday i sold 0.022 BTC ... i paid $3 transaction fees.
anybody know how and why transaction fees is over ...??
The reason is Cancelation of BTC hardfork ??

[mintomia199]

 i think it is fair fee.when price increase,fee is also increase simultaneously and vice versa.in my opinion it is fair fee and i like the process from my heart.