bitcoin transaction

[Lox500]

this must be modified because we loose precious time with transactions. Nobody wants to wait for a simple transaction!I thought its all simple but they want to make easy money from us . shame for bitcoin!

[1715128072]

1715128072

[1715128072]

1715128072

[bitbitz]

ou need miners to confirm transactions!

[Sonny]

the fee its not big but must be free

I have not really sure I understand your point.
Are you suggesting all bitcoin tx should be free?

[Lox500]

transactions must be free!

[DeboraMeeks]

the fee its not big but must be free

The fee depends on the size of the outputs, for example a large KB transaction requires several fees of 0.0001, which can total up to and more than 0.001.

[DannyHamilton]

transactions must be free!

LoL.

If you are running a miner (which is how transactions get confirmed), then you have to spend money on the mining equipment, and you have to spend money on electricity.  Why would anybody do any mining if they weren't going to get paid?  No miners means no confirmations.  No confirmations means no bitcoins.

Who told you bitcoin transactions must be free?  They lied to you.

From the very beginning with the very first design of Bitcoin it has always been known that there would be transaction fees.

Did you not read the Satoshi Whitepaper?

[Lox500]

In about one year there will be no mining ! How about that? Who is going to confirm the transactions? Probably me.

[DannyHamilton]

In about one year there will be no mining ! How about that? Who is going to confirm the transactions? Probably me.

That is ridiculous. Where did you hear such a thing?  You need to learn a LOT about how bitcoin works if you want to start commenting on how it should work and what will happen in the future.

You are either receiving some very incorrect information from a very unreliable source, or you are just making things up off the top of your head because you like the way it sounds.

Either way, please stop posting false and ridiculous "facts" until you have a better understanding of what is really happening.  Or perhaps you're just a troll trying to stir up discord for your own entertainment?  I really have to stop responding to trolls.

[Lox500]

You are not informed . There is an end for mining! Ask someone else

[Sonny]

You are not informed . There is an end for mining! Ask someone else

You must hear that info from an secret source lol

[DannyHamilton]

You are not informed . There is an end for mining! Ask someone else

I am VERY informed.  I have read the Satoshi Whitepaper (you clearly have not), and have been an active participant on bitcointalk.org for over 19 months.  I've studied the Bitcoin-Qt source code, I've read the bitcoin wiki, and I've participated in countless discussions about the technical details of how bitcoin works.

You on the other hand are either not informed, or mis-informed.  The only end to mining is if bitcoin stops existing.  So long as bitcoin continues to exist and serve a valuable purpose, mining will continue.

If you are interested in learning, you are welcome to ask questions that I will strive to answer for you so you can be better informed and can better understand how bitcoin is designed to work, but you really should learn a bit more before you try to make statements about how bitcoin does (or should) work.

At the absolute least, you should try reading the Satoshi Whitepaper.

[Sonny]

DM, you shouldn't take it seriously.
He is not even trying to explain his point, or share any links to that FUD.

[Colin Miner]

transactions must be free!

Then who is going to pay the miners for their time and electricity in the future?

If all future transactions are sent with no fee, then people will stop mining when there are no more new blocks and the system will collapse.

PAY THE FEE, its very good value for money... have you ever used PayPal? That is just a rip-off.

[Lox500]

the number of bitcoins in existence will never exceed 21 million.

[Sonny]

the number of bitcoins in existence will never exceed 21 million.

And so?
We can have 21 billion mBTC, 21 trillion µBTC or 2.1 quadrillion satoshi.

Or, do you prefer the number of bitcoin to keep on increasing just like USD?

[Lox500]

after 21 million bitcoin the mining will stop.

[DannyHamilton]

the number of bitcoins in existence will never exceed 21 million.

You are correct.

As a matter of fact, the number of bitcoins will actually never exceed 20999999.97690000 BTC.

This will happen somewhere around the year 2140 (about 126 years from now).

Of course during this time, the block subsidy will be reduced by half (and rounded down to the nearest 0.01 microbitcoins) every 4 years.  So the 25 BTC subsidy that miners receive today will be reduced to 12.5 BTC in about 3 years.  Then that will be reduced to 6.25 BTC 4 years later, and so on.

In the meantime, the value of the total transaction fees of all transactions included in the block will increase over time as bitcoin gains popularity.  Eventually the subsidy will shrink to an amount that is less than the transaction fees.  At that time, the reward the miners receive will mostly come from transaction fees instead of the subsidy.

When the subsidy eventually shrinks to 0 BTC, mining will be entirely supported by transaction fees.

[DannyHamilton]

after 21 million bitcoin the mining will stop.

New bitcoins will stop being created before the total created bitcoins reaches 20999999.97690000 BTC, however this will NOT stop the mining process.

Miners will continue to do the exact same work that they do today.  The only difference will be that their income will come from the transaction fees instead of from the block subsidy.

Perhaps we will stop calling it "mining" and will start calling it "transaction processing" instead, but the actual work being performed will be exactly the same.

[cp1]

Don't forget that it'll be over 100 years until we hit 21 million.

[Lox500]

Nothing is forever!