Orangegrove (OP)
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May 12, 2018, 08:34:43 AM |
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just curious why is there gas when banks send funds for free.
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RawDog
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May 12, 2018, 08:37:59 AM |
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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. |
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Sevarchik
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May 12, 2018, 09:08:19 AM |
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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
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9jaflick
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May 12, 2018, 09:58:06 AM |
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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. |
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onnz423
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May 12, 2018, 10:10:32 AM |
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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.
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Meysa_richa
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May 12, 2018, 10:25:05 AM |
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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.
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virendarnagpal
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May 12, 2018, 11:29:13 AM |
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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.
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Titanos
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May 12, 2018, 12:40:42 PM |
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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.
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stompix
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Blackjack.fun
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May 12, 2018, 03:47:07 PM |
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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$.  |
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squallw
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May 12, 2018, 08:11:40 PM |
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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.
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oginiimaoyani
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May 12, 2018, 08:22:16 PM |
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That is transaction fee paid for the miners who confirm transactions in the blockchain but remember no bank send funds for free.
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badakjawa
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May 12, 2018, 09:10:31 PM |
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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.
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wallstone
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May 12, 2018, 09:30:19 PM |
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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. |
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jjacob
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★Nitrogensports.eu★
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May 12, 2018, 09:35:35 PM |
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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. |
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CryptopreneurBrainboss
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eXch.cx - Automatic crypto Swap Exchange.
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May 12, 2018, 09:38:50 PM |
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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. |
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snuggleGuru
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May 12, 2018, 09:53:16 PM |
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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.
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9jaflick
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May 12, 2018, 09:56:15 PM |
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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. |
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christofyler
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May 12, 2018, 10:00:16 PM |
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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.
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dominional
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May 12, 2018, 10:33:23 PM |
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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
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TepungBeras
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Presale is live: BitPenta.com
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May 13, 2018, 12:55:35 AM |
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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.
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