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Author Topic: that over there is where the who went to what  (Read 702 times)
just_me
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October 30, 2013, 11:24:20 PM
 #1


why

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October 30, 2013, 11:34:47 PM
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I have never paid fees.

And this has been discussed billions of times before -- just search.
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October 30, 2013, 11:35:04 PM
 #3

What wallet are you using? Maybe you just need to change some settings.
The usual fee is 0.0001 Btc (~2 cent), transactions with that much are going through fine.
Also there will be changes to the fee to adjust in other ways in the next Bitcoin.qt update.
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October 31, 2013, 03:36:03 AM
 #4

Thats why dont send little amount of btc because the charge baseddd on size we send. If you send 0.01BTC, the charge still same sometimes you send the 0.0001

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DannyHamilton
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October 31, 2013, 05:10:04 AM
 #5

With bitcoins trading at near to $200 per bitcoin, the price of sending with the bitcoin wallet is close to 10 cents.

I suggest you use a different wallet, or avoid behaviors that load up your wallet with many, many tiny outputs.

That seems a bit pricy to me.

It is.  The typical fee enforced by the reference client is 0.0001 BTC per kilobyte.

I remember when we used to be able to make phone calls for 10 cents. It wasn't that long ago.

Wasn't that long ago?  I think it's been more than 30 years since payphone rates were $0.10 in the U.S.

And that 10 cents will really eat away at the money, if doing alot of sending.

So do less sending, or structure your sending in a way the reduces your fees.  You have options.

Does anyone know if there are any plans to cut the price of sending bitcoins down?

They've been cut several times.  The last time they were cut, the exchange rate was approaching $266.  I suspect they won't be cut again until the exchange rate nears $1000.

I would like it, if it was about 1/100 of a penny to send.

Fees are voluntary.  You can use a wallet that lets you pay a 1/100 of a penny fee if you like.  Keep in mind, however, that relaying transactions and confirming transactions is voluntary as well.  If you don't include a large enough fee, you may find that many of your transactions never leave your wallet or take a REALLY long time to confirm.


Pay 10 cents to send 2 cents? Doesn't make sense to me, so I aborted.

Sounds like a smart decision.  Bitcoin isn't really designed to handle transactions that small very well.

I also thought that the nodes were actually people who are mining, so aren't they making money from
mining, and why charge so much to people sending?

Solo miners and mining pools do run nodes, but many other people run nodes as well.  Anyone running the Bitcoin-Qt reference client is operating a full node.  Miners do make money from mining, nodes don't make money from operating a node though.  Nodes enforce a minimum fee to relay your transaction as a countermeasure against attacks against the bitcoin network.

Who is pocketing the 10 cents for each time someone sends bitcoins?

It's typically 2 cents.  But, regardless, the fees go to the miner (or mining pool) that adds your transaction to the blockchain.

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October 31, 2013, 05:18:16 AM
 #6

Three things. First of all, I am a prepaid phone user and I pay 5 cents per minute. Second, the fees aren't 10 cents but around 1-2. Finally if you don't want to pay miners fees, then I recommend you use coinbase because you don't have to pay a fee if you are sending more than 0.001 to an external account. If you are sending less than 0.001 to an external account then you have to pay 0.0005 fee. Any coinbase to coinbase transaction have no fear, are instant, and you can send less than the blockchain minimum.

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October 31, 2013, 07:12:11 AM
 #7

Bitcoin is not, never was, and never will be suitable for microtransactions, and was never intended to be. Bitcoin is a fast, secure, global payment network that obviates the need for banks or other trusted third parties. Using Bitcoin for microtransactions is like using a sledgehammer to crack a nut. If you insist on doing this anyway, please don't complain that a sledgehammer is more expensive than a nutcracker.

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October 31, 2013, 07:40:31 AM
 #8

ooops, there seems to be a quite parallel thread ("0.0005 btc to send bitcoins too much?") about the very same issue; maybe the should be merged?

anyhow, i'd like to learn about concepts/strategies for nutcracker-solutions as well, so in case that BTC can't seem to provide such, does this mean i should look into sth else? if yes, into what for example?

thanks, pm 
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