Is bitcoin transaction fees fair?

[Sithara007]

As far as I know the commission is not only depends on the price of bitcoin. After all, at its high cost, revaluation takes place and the amount of satoshi per transaction decreases. Do I understand the system correctly?

It's good that if you want to send 10.000$ you pay only 3$. But what happens with the people that want to send 3$?

If you want to send $3, then you need to use some other coin, such as Litecoin or Ethereum. Bitcoin has become unsuitable for sending small-sized and medium-sized transactions. Right now, the average fee is around $3 per transaction, which means that unless the size is more than $200, it will be better to use some other currency.

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[recklessMe]

I guess "fair transaction fee or not" looks more like an emotional than reasonable feedback. Hopefully Segwit can sort the things with transaction fees out soonest.

[inthelongrun]

The problem with fees is that while bitcoin continues to move up in value, fees also increased not just in fiat value but in bitcoin itself. I actually don't understand why exchanges increased their fees while bitcoin is already high compared to previous.

[JhonWong]

I think it's fair. The bitcoin is based on the POW, and it is normal to pay the fee to the miners. The strange thing is that the fees for different exchange platforms are different, from 0.0001 to 0.002.

[ZirconiumX]

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.

[currencydesigner]

In the case of national currencies, most transactions in everyday life take place without a commission. And this is the advantage of the national currencies in respect of bitcoins.

[albertcrypto110]

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.

[jerrysmith]

If all transactions equated both transactions in large and small amounts of transaction costs that do not change then it is new that is called fair.

[Good Bo]

It is not totally unfair as the fees was same from starting itself if the price increased (Which is what matters). there's nothing we can do about it. No one complained when the fees was low and everyone was happy. When it became more everyone has problem. Just try to reduce the low amount transaction.

How if we need to send low amount for some reason? If we wait for making big amount to send then we need to wait longer and its not possible for me who have small amount of bitcoin.

[TitanGEL]

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.

It is one of the disadvantage of the bitcoin, the fees are really expensive. Most of the people are also annoying to the fees of the bitcoin. I can say that the fees are not fair.

[warning_btc]

bitcoin transaction for now fair, but it controlled by miners only, and when price fastly going up she dont play fair
Maybe LN solve this problem soon

[musharaf]

The wallet which i am using is the blockchain.info and this is good because in these years the transaction fee are fair because for several transaction in the previous week i am very satisfied from the transaction time and fee i like the most and recent news for bitcoin is the bitcoin usage for future in many businesses and other uses over the internet these are good to hold these for future because the price now is good.

[TitanAI]

Nothing is free anymore in this world, everything comes with a price/fee. We are paying fees cause we have to support this industry and keep it working in a decent way, if every transaction would be free, it would take ages to transfer/trade bitcoins etc.

[Boromon]

If that were the price for big transactions there is no problem, and Bitcoin transaction fees is really too much fair than other you can check the paypal fees its very much high and bank fees is also very high.

[Marileno]

These transactions need to be free. Until they are BTC is not going to be taken seriously as a method of transaction. it isn't a question of fairness, its a question of competition. The general public is used to sending and receiving money for free. Why would they now start paying?

[siddu67]

Yes the transaction fees of Bitcoin is fair but not in all situations. because the transaction fee of bitcoin is very high as a result when we transact Bitcoin from one account to another account at that situation if the amount of transacting Bitcoin is so much then it is fair but when we transact a little amount of Bitcoin then the fee is not fair.

[popoyuyun]

High fees could be a problem because people are not going to make small transactions with bitcoins because of fees. but the price of the fee is also intended to balance every transaction and price are all ico.

[jeysonserafini1]

It's totally fair and it depends on which exchange you're using.
The prioty of your timing transaction long or short is depending on how much you gonna spend on that.

[baby222]

Miners control this. I think it is not affordable to use bitcoin for small transactions. Anyway, the fees shouldn't be a big problem

[rudox]

To me it is too high but the exchanges are complaining of high cost of mining because power source and security maintenance of their system as the reason for the exorbitant price.