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Author Topic: Bitcoin and Fee  (Read 257 times)
Thavite71
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November 17, 2017, 08:41:37 AM
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now bitcoin  price is 7,700 $ for 1 BTC  if price increase to 100,000 and i want to send 100$  it will be 0.0001 BTC  how much fee will pay ??

in other words if price increase  fee will increase to be more than sending amount Huh
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November 17, 2017, 11:11:13 AM
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It really depends on what others are willing to pay. Since miners are including transactions with the highest TX fees first, you are basically competing with others to be paying a fee that the miner is willing to include.

Simple math, fees are not directly related to the price of Bitcoin. You could still very well be paying the same fee as now.

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November 17, 2017, 12:10:39 PM
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now bitcoin  price is 7,700 $ for 1 BTC  if price increase to 100,000 and i want to send 100$  it will be 0.0001 BTC  how much fee will pay ??

in other words if price increase  fee will increase to be more than sending amount Huh

The fee will probably not decrease as the price rise, if you take a look at the fee chart here . You can see that the fees although not directly proportional to BTC, it is connected.
If this trend carry on, then yes your 100$ will be eaten up be the sending fee.

This is especially true for online exchanges that use fixed fees for sending/withdrawing.
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November 18, 2017, 08:13:08 AM
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now bitcoin  price is 7,700 $ for 1 BTC  if price increase to 100,000 and i want to send 100$  it will be 0.0001 BTC  how much fee will pay ??

in other words if price increase  fee will increase to be more than sending amount Huh

The network is getting congested due to low fees and if this continues then paying low fees means that you might have to wait for several days before the transaction even gets a single confirmation. However this does not mean that you have to increase fees if price of bitcoin increases. It depends on how much everyone else is willing to pay and that competes with the amount that you pay for your transaction.

In other words if you are not willing to provide a high fee then other people's transactions will confirm before your transaction does.

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