I think we are greedy

[Reid]

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

Okay you are right the $1-5 is acceptable but no more higher.
It is way above than it was before. It also increased in just a short time with a short notice.
I guess those spam cant deal with that kind of large transaction fee so they will stop and we could clear up the traffic out there when everyone is paying the right price.

[bigasic]

Im a tad confused. Are you complaining about the exchange you use for their high fees? or are you complaining about Tx fees on the chain? If its the exchange, then use another one, if its regarding the tx fees, well, right now it sucks, but its necessary. I make sure I send 2x the amount suggested per byte, yes, its more than the 6 cents i was paying just a few months ago, but id rather have my tx included in a block quickly, or ill lose sleep.

I dont think that Bitcoin is viable for micro payments any more, there are many alt coins that will do this. Bitcoin is going to be for those that are early adopters or invest heavily.

As for the BU/Sw debate, Im just going to hope for the best as Im no longer a miner and dont have any say. It does make me nervous that if BU is chosen that we will have 2 coins. its already hard to explain what bitcoin is, its going to be very confusing when there are 2 bitcoins. I hope there is a solution that will fix most issues without a hard fork..

BA

[Dimelord]

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

If you are only Buying BTC to hold as an investment , with no need to use it to pay anyone, then the fee is not a big issue.

If you actually are using it to pay to someone for a service or product.
BTC  ~$5
LTC  ~ 1 Penny

If you actually need to be able to complete onchain transactions in a timely manner at an affordable price LTC wins.

If you absolutely must use BTC, some exchanges like Cryptopia offer direct coin transfers to other users on the same exchange which bypasses the current onchain backlog.

So Offchain scaling is currently available without segwit or Lightening Network, just use Crytopia's offchain transactions for their exchange users.

╥AztekPhoenix

Just some exchanges are trying to make use of the current situation.They know that people are getting crazy to buy bitcoins.It would be fine if you are buying bitcoins as a long term investment.If you are trying to pay for a service,then it would be better for you to go with cryptopia exchange.

[Sadlife]

Yup the fees in some exchangers are just ridiculous the community should implement and should decide to how much fees does this exchangers should collect, just to be fair.
After all bitcoin is a decentralized currency there is really no need to increase in deposit or withdrawal fees even higher, i think 1$-5$ is enough.

[iamTom123]

There is no question about we are bringing so much greed into Bitcoin. Well, there is nothing wrong with earning what you are due but what is happening right now is that charges for the transfer is already beyond what can be considered as logical and just. In the first place, Bitcoin is supposed to be fast and cost-efficient. What what we are seeing and experiencing right now is opposite of what Bitcoin must be.

This thing has to be solved otherwise we might see some alignment or a bubble bursting in the near future. Sadly, this problem created a great incentive for miners and exchangers to make more money. The voice and concern of the common Bitcoin holders and users are getting to be drowned in this situation.

[dwieyani]

Greed that drives from behind because not confident, the cost is very high although the price of bitcoin unstoppable
Then many have imagined the potential that we have when scaling solutions are implemented.

[mrcash02]

Yup the fees in some exchangers are just ridiculous the community should implement and should decide to how much fees does this exchangers should collect, just to be fair.
After all bitcoin is a decentralized currency there is really no need to increase in deposit or withdrawal fees even higher, i think 1$-5$ is enough.

If it's decentralized you can't enter other's business and say them how much % they must charge from their users. Decentralization works when there are competition and only the good services will survive (in this case, the services charging low fees), as people have their free choice to choose the best one, most advantageous service they have to use. I think makes no sense to set fees like $1-$5, OP should set it in %...

[arcanayou]

Being greedy is not a bad thing, if our good intentions are understandable, if we are greedy to raise money and can make our family happy, that is a great and wonderful thing

[Amph]

To pay 1$ to 5$ for big bitcoin transactions is very acceptable, but I don't want to pay the same 1$ for little transactions like two digits transactions. I don't think it's a good idea to try making persons accept it as it is now.
It will make persons lose interest about bitcoins as they want to pay lower fees and have more profit by using crypto currency, otherwise they would be happy with fiat.

as i said there should be a lyer for different kind of transaction, micro transaction should be viewed with a different fee for miner, too bad they only see the size of the transaction, which is stupid at present

if the fee was based on the amount and not only on the size, we not have all this problem right now, i mean you still would have the block issue, but the priority for small amount TX would be different

there should be two way of priority with micro transaction working on a priority that is 10%(just an indication) of the big transaction, the definition of big or small transaction should be established carefully

let's say up to $25 or $100 maximum is considered small all the other are big

[densuj]

I have been trying to deposit/withdraw fiat into different exchanges, and I found that most fees are absolutely ridiculous (7%-10%?!). With many options to deposit/withdraw fiat (and different fees), I think we are getting a bit greedy with Bitcoin.

According to Bitcoin price at the moment, depositing fiat worth of 1BTC ($2,053) requires fees ranging between $21-$205, while most of us want to transact that same 1BTC with something like $0.5 and getting rage over the delay!

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

Yes i agree with you paying $1-$5 in fees is acceptable, if we use bitcoin for investments but it will be different if bitcoin be used for payment method (new currency) if we want pay something in bitcoin worth $1-$5
we must pay more than it for the fees transaction and the comunity of bitcoin want bitcoin become currency can be used for daily transaction, that is the problem must be fixed by all of comunity bitcoin.

[Prodigan786]

Yes my some transaction are pending because of low fees and also i tried to send my another bitcoin wallet address using low transaction fees its after week showing pending . So it has to be change otherwise there will be a tough days

[stompix]

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

I agree. I've been paying between $0.5 and $1 fee every time since I got interested in Bitcoin, but things started to suck lately. Last week I've sent a $1 fee transaction and it went relatively fine and got processed in about 12 hours. This week my transaction is stuck for over 50 hours!

Just pay $8 and it will be processed in "only" 30 minutes!

If you pay such a large commission, bitcoin will lose its attractiveness for many people. Therefore, I very much hope that the problem of unconfirmed transactions will be resolved in the near future.

That's a cost of a large pizza! Now the question is: can I wait for 2 days for a transaction to confirm and buy a pizza or lose the opportunity of a good meal and get an instant transaction instead. I never had such dilemmas with fiat
I love Bitcoin and I've earned a lot just by holding it, so I can afford paying a high fee, but what about all the newcomers, can they?

Soon without an agreement on the the whole segwit drama pizza will be out of the question.
Don't forget one thing.
You pay a fee when you pay the pizza , but the merchant or the payment processor is also paying a fee collecting all the bitcoins from the payment addresses.

So you pay 2$ for a 10$ pizza but the merchant will also pay ~2$/tx (less because of multiple inputs one output) when he collects 100$ from 10 orders.

In less than one month I don't think we're going to use it for anything lower than 100$.

[Yakamoto]

I think paying $1-$5 in fees is relatively acceptable, since bitcoin price is rising every single day.

I agree. I've been paying between $0.5 and $1 fee every time since I got interested in Bitcoin, but things started to suck lately. Last week I've sent a $1 fee transaction and it went relatively fine and got processed in about 12 hours. This week my transaction is stuck for over 50 hours!

Just pay $8 and it will be processed in "only" 30 minutes!

If you pay such a large commission, bitcoin will lose its attractiveness for many people. Therefore, I very much hope that the problem of unconfirmed transactions will be resolved in the near future.

That's a cost of a large pizza! Now the question is: can I wait for 2 days for a transaction to confirm and buy a pizza or lose the opportunity of a good meal and get an instant transaction instead. I never had such dilemmas with fiat
I love Bitcoin and I've earned a lot just by holding it, so I can afford paying a high fee, but what about all the newcomers, can they?

Soon without an agreement on the the whole segwit drama pizza will be out of the question.
Don't forget one thing.
You pay a fee when you pay the pizza , but the merchant or the payment processor is also paying a fee collecting all the bitcoins from the payment addresses.

So you pay 2$ for a 10$ pizza but the merchant will also pay ~2$/tx (less because of multiple inputs one output) when he collects 100$ from 10 orders.

In less than one month I don't think we're going to use it for anything lower than 100$.

I already don't really use it for anything under $100, but that's beside the point and I think that you're definitely going to see issues for anything under $20, considering you start paying >5% fees even when you cross just that small threshold. It doesn't seem like there's a point to move anything smaller than, at the very least, $20.
That's probably going to end up being a larger issue the longer time goes on.

[Naokia980]

Yes my some transaction are pending because of low fees and also i tried to send my another bitcoin wallet address using low transaction fees its after week showing pending . So it has to be change otherwise there will be a tough days

I can make a good advice to you if you already dont know about this service:never send bitcoin with low miner's fee,it will get stuck on next "available" block.That's why always use recommended fees when you make transaction. If transaction get stucked on blockchain just try free transaction accelerator services like viabtc to solve this problem.Always check count of unconfirmed transaction on blockchain.

[iqlimasyadiqa]

Being greedy is not a bad thing, if our good intentions are understandable, if we are greedy to raise money and can make our family happy, that is a great and wonderful thing

I agree with you . It depends on which side we think. Because with a positive purpose of course what we do is a very good thing. Different when we are greedy just for, to make ourselves happy and luxurious life.

[foxbat]

Being greedy is not a bad thing, if our good intentions are understandable, if we are greedy to raise money and can make our family happy, that is a great and wonderful thing

I agree with you . It depends on which side we think. Because with a positive purpose of course what we do is a very good thing. Different when we are greedy just for, to make ourselves happy and luxurious life.

Exactly, greed is human nature, it is like the motivation for human hard work. However, we value greed by our work. Greed should be judged by the actions and virtues of each person.

[Schuyler]

The transaction fees are a killer for micro transactions, as if it is the miner's way of discouraging us from sending small amounts. Greed is at a very high level for a lot of the parties involved, the local exchangers, the miners and the investors who want to make the most without costing them too much. At some point, something has got to give and a compromise must be reached for things to be balanced among us.

[crairezx20]

For large transaction its ok to pay a fee around $1-$5 but for those who are micropayments i think paying large amount is not acceptable mostly for newbie users of bitcoin that complaining about their transaction turn into unconfirm or it takes to long to confirm..
Well we have a wallet here and i think even we are not paying a fee you can be still sent your transaction about an hour unlike other wallet that you need to pay a fee before you can send bitcoin..
Coinbase also need to pay for a fee in order to sent. coins.ph if you are in our country you can use the wallet and choose non-fee instead if you don't want to pay for a fee.. i think the transaction will arrive in 1 hour base in my experience..

[myhung76393]

The price of Bitcoin is getting crazy high and therefore, transaction costs, we must spend every transaction.I have noticed that some exchanges are charged higher transaction fees for most currencies alt too even if the price of the coins shot ten times they do not make any changes to the amount of coins they lost transaction fees, this has been changed, the case with Bitcoin's transaction costs are recognized are higher and so we have to spend more, that is not the case with alt trend, but still some exchanges were higher toll

[CraigWrightBTC]

Yes my some transaction are pending because of low fees and also i tried to send my another bitcoin wallet address using low transaction fees its after week showing pending . So it has to be change otherwise there will be a tough days

The solution for this problem (fees transaction is cheap)be offered by comunity is segwit,
there is rumor will be activated but it will not be easy  because there are some people who agree and disagree
the other solution lighting network, bitcoin unlimited, let wait and see what will happen.