why gas price?

[Orangegrove]

just curious why is there gas when banks send funds for free.

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[RawDog]

just curious why is there gas when banks send funds for free.

No gas price.  That must be some other coin.  This is Bitcoin - without gas.   Here you pay transaction fee - about $10.

[Sevarchik]

I dont seen what banks send funds for free, maybe it sending fund from one bank filial to other.
SWIFT and continental transaction fees very high and depend from amount of transaction money.
Crypto not depend from amount and have low fees, in eth network this fee names gas

[9jaflick]

just curious why is there gas when banks send funds for free.

when sending funds across-border do your bank charge you for any transaction fee? And how long does it take your bank to confirm your transaction?
Cryptocurrency transaction fees and confirmation time is not to be compared with traditional bank, our traditional banking sector are way behind.

[onnz423]

Not sure which banks you are looking at, but you certainly can't send funds for free between countries. Sure, you can make transfer between banks in the same country for free (usually), but sending between countries incurs a hefty IBAN fee which is usually at least $20, regardless how much you're sending. Nowadays it is very rare to see a BTC fee anywhere close to this.

[Meysa_richa]

Although the transfer of funds for free but I think the bank does not want to lose so indirectly the bank took the cost of gas, and that's only natural.

[virendarnagpal]

There are two types of funds transfers in Banks one is Inter Banks funds transfers and the second is Intra Bank funds transfers.  While in most of the Banks inter banks transfers are free of cost but Banks charge if one  intends to remit proceeds to the customer of any other Bank.  So these are not free for most of the people.
Now we come to Bitcoin:  the transaction charges $10 per transaction seems to be very high.  If I have to pay a bill for $ 5 and I am to pay $ 10 as charges it is definitely injustice for small customers.  Though for big transactions it seems cheap.

[Titanos]

No bank sends transactions for free. The gas is to pay pay the miners who confirm transactions in the blockchain. Anyway, gas price can't be compared to high fees cut by banks.

[stompix]

Now we come to Bitcoin:  the transaction charges $10 per transaction seems to be very high.  If I have to pay a bill for $ 5 and I am to pay $ 10 as charges it is definitely injustice for small customers.  Though for big transactions it seems cheap.

How long ago did you make your last BTC transaction?
The average fee for next block confirmation has been hovering at around 50 cents for months.

I dont seen what banks send funds for free, maybe it sending fund from one bank filial to other.
SWIFT and continental transaction fees very high and depend from amount of transaction money.
Crypto not depend from amount and have low fees, in eth network this fee names gas

Depends, for exampe SEPA transfers are extremely cheap even compared with recent bitcoin fees.

The funny thing is that crypto fees depend on something too.
You won't see a bank charging you extra because there are 10 clients in line, but as it happened to bitcoin during the spam wave, you might end paying one day 50 cents and tomorrow 20$. 

[squallw]

Bank are free? Are you crazy? In the 3 countries that i lived, all banks has fee to transfer. Maybe transaction for same bank can be free.
If you want to send money to your parent in another country you will pay high fee, in the crypto you can pay the same fee around the world and can be very low.
Bitcoin is one of the most expensive fee in the crypto market but you can do a transfer now for 11 sat/byte and transaction will take about 30 minutes to confirm and final cost will be about 0.00002475 or $0.20 in the currently btc price.

Anyway, gas is for ethereum, you can transfer eth with very low fee.

[oginiimaoyani]

That is transaction fee paid for the miners who confirm transactions in the blockchain but remember no bank send funds for free.

[badakjawa]

if without gas, then the transaction will not be done, the price of gas is not the same, even the bank is a party that has a greater advantage of gas.

today there is no free transaction, even to send the balance from bitfinex to bitcoin wallet is very expensive.

[wallstone]

if without gas, then the transaction will not be done, the price of gas is not the same, even the bank is a party that has a greater advantage of gas.

today there is no free transaction, even to send the balance from bitfinex to bitcoin wallet is very expensive.

All transactions now are have charges there is no free now. They collect charges for every transactions cause they use to for salary of there employee, even inquiring your balance they have charges no free at this time.

[jjacob]

just curious why is there gas when banks send funds for free.

Try and make a cross border transaction. Even if banks don't charge a fee for the transfer, they make a killing on the exchange rate. There is no way banks will leave money on the table for others.

[CryptopreneurBrainboss]

just curious why is there gas when banks send funds for free.

Gas are used for Ethereum, Neo and it's based tokens (coins created through its Blockchain). The gas is just like a transaction fee that you use to pay the miners for your transaction to be confirm. Without these gas your transaction won't be considered valid.

[snuggleGuru]

You can always send funds without a fee, just dont be upset if the transaction isnt included in a block until the mempool is completely clear.

[9jaflick]

Bank are free? Are you crazy? In the 3 countries that i lived, all banks has fee to transfer. Maybe transaction for same bank can be free.
If you want to send money to your parent in another country you will pay high fee, in the crypto you can pay the same fee around the world and can be very low.
Bitcoin is one of the most expensive fee in the crypto market but you can do a transfer now for 11 sat/byte and transaction will take about 30 minutes to confirm and final cost will be about 0.00002475 or $0.20 in the currently btc price.

Anyway, gas is for ethereum, you can transfer eth with very low fee.

can you just comment without using any hash words?  He asked a simple question which requires a simple answer and I believe he has getting more than enough already.

[christofyler]

Gas fee are just charges involve when transferring coin or token from one wallet to another. Let take bank as an example bank also charge when transferring from on account to another, they only give free charges when the transaction is carried out  within their banks.

[dominional]

Why gas price? This is the amount that will be used to move or transport your token to where it will be sold, therefore any transaction that involve buying and selling it require gas file

[TepungBeras]

It is true that it has a gas price in the transaction, although it seems to be free but indirectly I think it is not free.

[Whibu]

Although shipping for free by banks, but gas can also be said one of the costs that can be utilized for profit.

[Babbleingbrook]

just curious why is there gas when banks send funds for free.

Well as others have said banks charge fees for a variety of transaction types, and also gas is an integral part of some blockchains e.g. ethereum as to prevent the spamming and overloading of the network.

[ALI AKBAR]

No bank in the world transfers free transactions from one place to another. Blockchain guarantees transaction to those workers who mine gas as a payment. Gas prices can not be compared by banks.

[ilnick]

Perhaps the OP mean intrabank operations. When you pay with a Visa card in the store, you do not pay a commission. Similarly, within the blockchain, it seemed to him that there should be no payments.
The peculiarity of the crypto currency is that we will pay a commission for any transaction. But this has already been explained above.

[khufuking]

You are comparing move money locally between 2 accounts at same bank and same country ! to a worldwide ledger system that require confirmation for your transaction to be safe and secure it vs duplicate etc etc ... ! Plus your bank probably charge you on other staff just for maintaining your account open even if you did not make any transaction ! .

[clarkt]

First,  bank don't send funds for free!  There are many maintenance charges that they deduct from your account on a regular basis.  Gas is needed to be paid for because those that use their super computer to perform trustless transactions for your fund need to be rewarded!

[Casalania]

just curious why is there gas when banks send funds for free.

fiat can be transfer through banks without fee, indeed. but cryptocurrency is different from fiat even though crypto is considered as money. dont compare crypto and fiat money because crypto can do more than fiat.

[MisterPipka]

Why do they ship for free? To be honest, I did not quite understand the question. What is the problem?

[lelou]

What gas? Do you mean transaction fee? 
Banks don't transfer money for free, there are transaction fees too just like cryptocurrencies.

[vladuch1]

No bank sends transactions for free. The gas is to pay pay the miners who confirm transactions in the blockchain. Anyway, gas price can't be compared to high fees cut by banks.

This is really so, the banks charge a very large commission, so we can pay very little thanks to gas! Gas has a price when you make a transaction!

[crypto228]

I'm not sure I understand you. Banks also take a commission for transfers. The price of gas is also a commission. It is good that there are such commissions, because it reduces the total number of the Etherium, thereby increasing its value

[megaflux7]

My bank don't send money for free. they charge transaction fee too and gas is even way more cheaper than what they charge, so what you talking about??

[HatDen]

Ha, how about charging 19% fee to sending from one country to another?
SWIFT FOREVER

[turcalata]

The GAS fee is a fee paid for Ethereum transfers. The higher the gas charge, the faster the money transfer takes place. The lower the gas fee, the later it can be. In some cases, even if the GAS fee is low, the transfer can be fast if there is no density on the network. The fee you mentioned is from Ethereum. But there is no money transfer fee for each coin. For example, NEO transfer does not pay any fees. It's all about the way the money is used. You can even earn GAS tokens for NEO hold. Moreover, not only in their own wallets, even in stock market wallets can be taken.

[ItsZeroLimit]

just curious why is there gas when banks send funds for free.

Not a best place for that question in Altcoin Discussion thread. Who told you that banks make it for free? Bank commissions are about 1.5-2%. In addition, Gas is the payment to the miners for the transaction.

[askmecrypto]

just curious why is there gas when banks send funds for free.

First of all, Banks dont really send funds for free.
Different countries have different way and charges regarding transactions, interests or some other way. Apart from that, they keep your funds with them and utilize to raise more capital by using your funds in other investment spaces.
There is no such thing in the world called "FREE", earlier you understand, earlier you see the reality. 

[GmBoom]

I barely thing that you are referring to transaction price and not the gas price. As I see, gas price is the other term used for making transactions in ethereum and Neo. Other than that especially banks, they use the team transaction price.

[gawuk]

When the bank does not take any transaction fees from the money you send, you actually pay the administrative fee that the bank draws every month. And you will still pay even if you don’t do any transaction in one year.

[Zaidaskin]

just curious why is there gas when banks send funds for free.

It is possible for delivery within your country to be exempted from the administrative costs of the bank. But if you send money between countries, maybe you will be grateful already know kriptocurrency.

[rohican]

just curious why is there gas when banks send funds for free.

It's possible that a free money transfer applies only to local shipments and uses the same bank. Believe me they are very good at finding ways to make a little profit from you, even from sms notifications.

[marks1976]

What gas? Do you mean transaction fee? 
Banks don't transfer money for free, there are transaction fees too just like cryptocurrencies.

And remember there are so many restrictions. Bank has been running various way to earn more and more fees. The bank was giving a charge for the customer every month.
The fees will always be applied if we will try to send any amount to another bank account. It's not 100% free

[RajaCripto]

I also hitherto do not understand, why exchangers need GAS for token transfers. In fact, exchangers already benefit from trade

[adekogbe]

The concept of gas fee has not been new to me because ita simple to get, you want your transactions processed & you'll pay miners to process if for you... The amount you pay determines how fast it will be processed. What I do not get is why some exchanges ask for high gas fees irrespective of how much the transaction is worth

[jemine]

just curious why is there gas when banks send funds for free.

Banks in my country don't not send fund for free they charge certain amount to maintain it's infrastructure. That is the same thing gas is representing in the crypto world.

[Crypto11021]

I have been curious about this too

[Raist]

just curious why is there gas when banks send funds for free.

According to Jevons Paradox crypto will lead to higher transaction fee and higher labor and energy costs than centralized banking system. Like 2 time more energy efficient leds did not cut your electricity bills and possibility to fix mistakes in text editors did not lead to paper economy after invention of printer.

[OluwaTosin10]

just curious why is there gas when banks send funds for free.

Gas are just to ensure your transactions gets done faster quicker and easier
Unlike bank where you have to wait for ages to get your credit alert

In crypto, the higher your gas fee, the faster your transaction gets deliver
Don’t really be unhappy , in ETH the highest gas fee you can be charged is 1$
No matter how severe the network is

So relax and enjoy crypto growth

[eye-con]

just curious why is there gas when banks send funds for free.

gas are being used to transfer funds, your altcoins. can you transfer your altcoins through banks? if so, then do transfer my funds

[cryptogeek101]

Gas price is used to determine miners fee which is the incentive for Ethereum blockchain computation. Gas used x gas price= Miners fee. However there is always a gas limit for every transaction in the Ethereum blockchain. The unit for gas price is Gwei.

[waitforme]

Banks need to collect transaction fees from their service users because they lack the cost of maintaining the system and upgrading the system to carry out transactions from their customers.

[zininaks]

When you transfer tokens, interact with a contract, send a cryptocurrency, or perform any action on the blockchain, you have to pay for those calculations. The payment is calculated in Gas. You pay for the calculations regardless of whether the transaction takes place or not. Even if it is rejected, miners must confirm and perform this transaction (the computation). Therefore, you will have to pay for their work, as in the case of a successful transaction.

[@theman]

Banks don't send money for free. Any adult should understand this. Using cryptocurrency is much more profitable than banks

[AzuraBWZ]

Why ? because each transaction requires a fee for shipping costs from wallet to wallet, this is a system of blockchain

[hydrococo]

Gas here is my taste similar to shipping. Where when we want to send the coins to the other wallet, then subjected to a number of gas to deliver it. And the numbers are adjusted to the type of coins as well as the large number being transferred.

[juditPolgar]

In my view, Although the transfer of funds is free but I think the bank does not want to lose so indirectly the bank takes the gas costs.
Gas is like the transaction fee you use to pay the miners to make your transaction a confirmation

[skorupi17]

just curious why is there gas when banks send funds for free.

The gas or transaction fee is a compensation to miners who processes our transactions. You might not aware but banks also charges transaction fees to their clients. The gas or tx fee of cryptocurrency is much cheaper than of the banks. Those who offers zero transaction fee have servers that could be penetrated by some random hackers. So in terms of security, cryptocurrency is much reliable than banks.

[andthereyou]

just curious why is there gas when banks send funds for free.

There is gas for transaction fees as a reward for mining or staking in cryptocurrency. Banks usually don't have transaction fee when transfering money from one account to another in the same bank. But if you try to transfer from your bank account to foreign bank account then there is a fee. I had experienced it firsthand.

[TomiJerry]

I wonder what banks send money for free?  Transactions fees is one of the main banking businesses. If you have a tariff with free transactions, then you paid for them in another form.