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Author Topic: Are zero transaction costs possible?  (Read 354 times)
mmo_online_1981
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July 21, 2018, 02:46:02 PM
 #81

In the past you could, but that transaction would not be successful or the transaction would be up to a week. Your waiting cost will be big transfer fee of Bitcoin!

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July 21, 2018, 03:02:22 PM
 #82

What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?


yes that is very possible, there are some altcoin that have zero transfer fee and it takes within some second to deliver to any address. and it will be the future of blockchain, now reason such project is designed is due to the complain of high fees and charges in the blockchain.
the project is nexty.io with this nexty platform you have no problem of gas fees and the rest, you can rush and buy nexty.io (NTY) on idax.mn
you can appreciate to the following wallet: 0x44c1d4125d30daa1d5d2389e5b48fcc0153940b1
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July 21, 2018, 03:15:42 PM
 #83

I'm not a very big expert in this, but it seems to me that if those who have influence in the bitcoin world agree to abandon the services of miners, then the cost of transactions will be easier to make zero. Some projects already have zero transaction costs.

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July 21, 2018, 03:19:18 PM
 #84

A small fee is acceptable as a usage tax but when the fee is too large it will affect the user. It reduces the volume of transactions pretty much
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July 21, 2018, 03:45:04 PM
 #85

I personally do not think that zero transaction costs are possible because you need to provide incentive to keep the network up & running.
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July 21, 2018, 03:54:26 PM
 #86

There are already many coins close to zero transaction costs. We all know that the transaction cost of bitcoin and ETH is very high, especially some small transactions. I think the introduction of lightning network can alleviate this problem very well.

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July 21, 2018, 04:19:44 PM
 #87

Mostly exchange sites deduct transaction cost because this the only way for them to get some real profit so they don't want or they are not in the favour of zero transaction fee. But there are some professional sites in which transaction fee is almost equal to zero.



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July 21, 2018, 05:31:10 PM
 #88

I myself am not convinced that the transaction can be zero, many people think it is impossible because it involves expensive technology. however, I think the transaction becomes empty may occur if using the exchange without going through a third party. for example, swapping tokens with group groups or using auction platforms without fees.

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July 21, 2018, 05:37:43 PM
 #89

Dont know if it would be ever possible because miners will always be the middleman's of all the transactions on the blockchain, but fees are cheap now, $0,10 for each transaction is just like a gift, i dont know why you are complaining

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July 27, 2018, 02:46:23 PM
 #90

more precisely if you want to like it maybe later when you're in heaven.
Its logic is anyone willing to work without salary?

because every Bitcoin or Altcoins transaction requires miners or Exchange to send your money to another wallet, and it's needed to pay for their electricity and hardware. cost 0 = none.
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July 27, 2018, 02:57:59 PM
 #91

Actually, I don't want totally zero transactions costs. A little bit fee will be very good. Bitcoin transactions fee is reducing day by day, Many altcoins have very little costs. So, overall the transactions are good enough for me.

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July 27, 2018, 03:06:36 PM
 #92

The cost of electricity is one of the major reasons why transactions cannot be zero. However, when there is a cheaper cleaner and much accessible means of electricity,this could drastically bring down the cost of transaction costs between exchange sites and wallets or during wholesale transactions. Till then it won't be possible.

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July 27, 2018, 03:09:43 PM
 #93

transactions will always cost something no matter what. it may not be in form of fee but it will be a cost.
but if fees are your concerns then for bitcoin and those altcoins that  copied bitcoin NO it is not possible because of the design of these coins. fee is there to prevent spam attacks from going on for eternity.
but it is possible in other designs  that are not copying bitcoin. for instance NANO and i think IOTA also have 0 fees.

I have sent a couple of 0 fee Bitcoin transactions this year and they were confirmed within 10 blocks,
would you mind sharing the TX ID of these transactions?
i have been trying to do it but i have been failing to get it to even propagate. the nodes reject it so it doesn't even reach the miners!
I think it is a natural thing when we are charged every transaction on any wallet account we will be charged if we want to move our money, it is very reasonable thing because the transaction cost is only a little.

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July 27, 2018, 03:10:52 PM
 #94

if I think if the transaction fee becomes zero it is very small possibility. if the transaction cost goes down I believe it is even more likely that it will happen.

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July 27, 2018, 03:16:10 PM
 #95

What do you think, is it possible to have zero transaction costs for bitcoin/altcoin. At the moment there are many fees and are they justified and impossible to get around or is it possible to reduce or even remove them in the future?


I believe that you cannot remove transactions costs for bitcoin because miners also need something in return for confirming a transaction. You may reduce it by using the mining device's hash power efficiently. In the near future, the value of a transaction cost will become insignificant to the part of service users because of the evolution of technology to hardware devices.

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July 27, 2018, 03:18:58 PM
 #96

Right now miners get less than 2% or 3% of their reward from the transaction fee, and therefore I think that they will be fine even if the transaction fee is kept to zero. And they will gain in the end, as Bitcoin will get more fuel for its fight against the altcoins.

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July 27, 2018, 04:05:50 PM
 #97

I believe it is not possible because miners generates income from the fees. If it will be removed then, the chances are high that, miners will stop their operation as it will not be cost effective.
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July 27, 2018, 04:11:26 PM
 #98

I do not think that zero free transaction would be possible with Bitcoin transaction because it depends on the miners. The higher the fee that you give, higher that chance that it will be pick by a miner. If you send a large amount of Bitcoin using only 1 sat, then you would never be able to send that because there are a lot of transaction that has a higher fee and miners would prioritized this transactions instead of yours. I do believe that instant transaction does exist. Just look at RaiBlocks which is now called NANO.

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July 27, 2018, 04:12:56 PM
 #99

Gradually we are approaching the era of zero transaction fees. Currently only few project like NEO allows this. This is a very good strong point for it. But currently we do not have zero transaction fee trading platform which I think will be very difficult to achieve. But we hope it comes soon maybe in a different pattern. We wait for it.

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July 27, 2018, 04:13:31 PM
 #100

If zero transaction costs are possible, I am yet to be aware of them, however, that will be when the cost of electricity is negligible or transfer amount is small within limits of definition of what is called small.
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