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Author Topic: big transaction fee in Bitcoin , really down the future of btc ?  (Read 2232 times)
asadul
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August 11, 2017, 10:19:43 AM
 #61

Everyone has to report yes to transaction fees.
tondiego
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August 11, 2017, 12:40:08 PM
 #62

It is so simple. The transaction fees are high because BTC users are ready to pay them. It's actually only them, who are responsible for high fees. As a matter of fact voluntary fees can kill the whole BTC, because they are driven by greed which can be endless (because of people's nature). This is a real issue in BTC protocol that must be resolved, sooner the better.

I do understand their purpose (reward for miners in the future, instead of newly mined BTCs), but the fees regulation is really needed and should be set to constant - e.g. 1 satoshi per 100KB. No matter how big the transaction is, all transactions would be with the same priority, with no possibility for any of them to be "forgotten" in the space.
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August 11, 2017, 06:29:50 PM
Last edit: August 11, 2017, 08:06:58 PM by deisik
 #63

It is so simple. The transaction fees are high because BTC users are ready to pay them. It's actually only them, who are responsible for high fees. As a matter of fact voluntary fees can kill the whole BTC, because they are driven by greed which can be endless (because of people's nature). This is a real issue in BTC protocol that must be resolved, sooner the better

That leaves plenty of room for debate

It is like claiming that victims of robbers are to be held responsible for the robbery since, first, they have money which could be robbed, and, second, they were given sort of choice (to give up money or die). As the proverb goes, the stronger always blames the weaker. Regarding regulation, this can only be changed either by moving from the PoW model to the PoS model (which is highly unlikely) or by setting up payment channels in the way Lightning Network does which allows to completely (well, mostly) bypass miners and the hefty fees they tax

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August 11, 2017, 06:34:13 PM
 #64

Day to day the price of the Bitcoin is increasing but with this a big problem arising that is fee .
Can you think that with the increase of the transaction fee of the Bitcoin will results into less use of the Bitcoin for transaction from one address to another .
And people will move toward the other cryptocurrency .
Or there is chances to improve the block chain network​ and increase the size of block .

I request to everyone to give you thoughts and views at this big problem of fee .

That's normal. Bitcoin's price increases mean that transaction fees will also increase. However, the higher the transaction fee, the faster the transaction will be. This is true. You must pay the right amount for the work of the miners. Instead of lamenting, you should focus on finding BTC. Besides, I am confident that Bitcoin is the most rewarding currency, making you the fastest richest.

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