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Author Topic: Are you using low fees?  (Read 13395 times)
sobsitesearch
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June 04, 2017, 03:31:21 PM
 #81

At times I find myself paying high fees because I need my bitcoin transaction confirmed in the fastest possible time
atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
If value of bitcoin are continuous increasing i think that range will increase also. For me i do not try the higher fee because i am not in hurry to get my balances that is why 24hrs before to confirmed my transaction is not a big deal to me.
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June 04, 2017, 03:34:33 PM
 #82

I use xapo wallet, and xapo users are not allowed to set the fees as they want. So xapo set 2 ways for transactions fees, High priority and standard fees. I don't like this way, when we talk about fees, we should set our fees as we want. Anyways, current xapo fees are too high, i don't recommand to use xapo if you make transactions daily.

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June 04, 2017, 03:49:21 PM
 #83

At times I find myself paying high fees because I need my bitcoin transaction confirmed in the fastest possible time
atm am paying fees in the ranges of 40-60k satoshis which is high enough imo hope it maintains this range for the time being.
If value of bitcoin are continuous increasing i think that range will increase also. For me i do not try the higher fee because i am not in hurry to get my balances that is why 24hrs before to confirmed my transaction is not a big deal to me.
You can use low fee if you not want send BTC fast to someone or your Balance, but when you make an auto deal or sell it to get real money, I think you need use hight fee  for your transaction, because you can get time out if it is an automatic exchange service Wink
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June 04, 2017, 03:55:06 PM
 #84

I used in the range of 50-100 sat/byte only. That's the limit that I can only afford and I'm lucky that it will be pick up and not struck in days or even weeks. Of course it will took me like 12-24 hrs to wait for the transaction to be confirmed, but I'm still fine with that because I'm not always in a hurry when sending/receiving bitcoin on my own wallet.

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June 04, 2017, 03:58:23 PM
 #85

Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?

That is entirely your personal choice. This is the reason why the concept of "Dynamic Fees" is developed.
However, I don't feel waiting for weeks is good option especially for me where I need to remunerate number of people daily who keep up my work running. Nor it will contribute to our vision of 'Bitcoin as money'. No money takes a week to transfer between two people.
So low fees and wait can't be any solution. We need some amendment is block size.
BitFinnese
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June 04, 2017, 04:00:12 PM
 #86

I only move my BTC if it is needed so I do not use low fees.  I use the recommended fee since I hate waiting too long.  This might remind me one day that I spent too much on Transaction fee but at least i can tell myself, I saved me from all the stress and frustration of getting my transaction confirmed.
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June 04, 2017, 04:23:23 PM
 #87

I never tried below normal transaction fee. Maybe im afraid my funds to be stuck and pending in many days. Also i only transfer funds when i really need the fund. And for that i have to put normal to priority miner fee to make it faster and avoid inconvenience. That's a good move tho. But i rather don't transfer the funds than wait for that long.
I am also mindful of what fees I end up paying for the transactions I make and it depends on how quick I may want them confirmed, Sometimes I go with the fastest, some other times I settle for the lowest fees, but never encountered delay beyond couple of hours.

For a long while I have not been using my blockchain wallet, because on one day I calculated what fees I had had to pay all the while I used them, I was astound by the figure that stared at me, Xapo then became my main wallet.
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June 04, 2017, 04:37:26 PM
 #88

That's true, with the higher bitcoin price, the fee is also very pronounced, I also address the low fee, but only for withdrawal to fiat money.

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June 04, 2017, 04:46:58 PM
 #89

I think Because there is a big problem with low transaction costs, and I keep paying attention to every transaction fee I pay and I have to use a wallet where I have to control the proper one already suggested.
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June 04, 2017, 04:48:20 PM
 #90

NO. I do not use high fee although the fee is ridiculous. I have to make a high fee because I do not my transaction get pending for more than 1 week. And because of the high fee, I only hold my bitcoin in my wallet and try not to use it as much as I can so that I can reduce the fee that I have to pay to the miners

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June 04, 2017, 04:54:30 PM
 #91

I can't even get trough with normal fees, I would use low fees but my transaction would be confirmed a week later and I do not want to wait that long. I send normal fees always because I do not want to pay half of the transactions worth with high fees. You should not use low until everything with the fees is settled.

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BitcoinPanther
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June 04, 2017, 05:21:01 PM
 #92

I have set my electrum wallet to dynamic fee so that I do not have to worry about the transaction fee and get stuck in the blockchain unconfirmed.  So basically this answers that I do not use low fees.  I always wanted to use standard payment so that the transaction won't get stuck in the blockchain for hours or days.
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June 04, 2017, 06:03:56 PM
 #93

I dare not to use low fee because I am afraid that my transactions will get stuck for several days.  I am quite a worry person since I am worried about things no matter how small it is.  So to save my self from worrying I always follow the standard transaction fee.
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June 04, 2017, 06:39:31 PM
 #94

I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf.   Viabtc's free service does the job very well. Cool
Hilarious stuff.  Jihan Wu doesn't lead ViaBTC.  For all we know he could be mining there, but I've seen no evidence of this.  I hope you feel good abusing a free service for your own greed.

Everytime I visit Viabtc they fill my screen with their bullshit BU propaganda text. They are in the same bed with Jihan so yes, i really feel good while doing my stuff.

If they weren't being greedy and activated segwit already, I wouldn't be needing to do so. If they steal from us by not activating segwit, then there is no choice for us but to balance the scale.  Cool

https://twitter.com/JihanWu/status/868896110760181760

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equator
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June 04, 2017, 07:43:39 PM
 #95

I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf.   Viabtc's free service does the job very well. Cool
Hilarious stuff.  Jihan Wu doesn't lead ViaBTC.  For all we know he could be mining there, but I've seen no evidence of this.  I hope you feel good abusing a free service for your own greed.

Everytime I visit Viabtc they fill my screen with their bullshit BU propaganda text. They are in the same bed with Jihan so yes, i really feel good while doing my stuff.

If they weren't being greedy and activated segwit already, I wouldn't be needing to do so. If they steal from us by not activating segwit, then there is no choice for us but to balance the scale.  Cool

https://twitter.com/JihanWu/status/868896110760181760

I totally agree with you that this is the fault of the miners who are stoping segwit to get implemented so that they can earn high transaction fees , but it is not good so who are smart are using the same old transaction fees and then they go to viabtc and submit their transaction to acceleration and get confirmed. It is really great that viabtc is doing a great job in helping the bitcoin users with their free service
pixie85
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June 04, 2017, 07:50:33 PM
 #96

I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf.   Viabtc's free service does the job very well. Cool

Paying >200satoshi/byte started to hurt me very badly. I have to move my coins from one address to another from time to time because those small incomes which i collect from here and there create many inputs in time and i don't want to look at a 100$ fee in some day.

I prefer to pay more than wait and spam their captcha every hour until I can finally push through all the other captcha solvers.
If doing it is worth paying $1 more to you, be my guest. To me it's almost nothing, so I don't mind spending 50c or 1$ more here and there. My time is worth more.
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June 04, 2017, 07:55:59 PM
 #97

At the times when I need urgent transactions then I use the required fees to get my transaction more faster but at the times when I do not need any faster transaction and I can wait then I use a medium transaction fees.
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June 04, 2017, 08:27:07 PM
 #98

Yes, I always have used low fees so far. But that is because of Multibit wallet, who sets the fees automatically and as I have set the fee slider towards the lower side of it. But now I think I would get Electrum and use manual fee per transaction, so I can set low fees for transactions when the time won't matter much, and relatively higher fees for when its an urgent transfer.
There is a problem with me too, I use rushwallet and the problem is that when I send some bitcoins the output comes to my own addy too of course and that makes the transaction size mammoth and hence requiring big fees. But that been said I never faced much issues because in case I mistakenly spent low fees then I can get them confirmed through viabtc transaction accelerator.
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June 04, 2017, 08:38:23 PM
 #99

I always use 30 satoshi per byte and i'm letting Jihan BU to pay the rest on my behalf.   Viabtc's free service does the job very well. Cool

Paying >200satoshi/byte started to hurt me very badly. I have to move my coins from one address to another from time to time because those small incomes which i collect from here and there create many inputs in time and i don't want to look at a 100$ fee in some day.
The service is working. But quite a long queue.

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June 04, 2017, 08:40:29 PM
 #100

Previously i was using 80 sat for my all transaction and still i am paying that only and get help from viabtc to clear my transaction. It takes time but i am not in hurry for any Bitcoins or fiat currency to be in wallet.
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