Are zero transaction costs possible?

[drwhobox]

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?

It's possible but think at their position would you even spend good amounts of money to buy hardware to recieve nothing in return? fees can reach as low as 1 sat/b if there is a change that people will adopt to smaller fees rather than spending lots of Sats/b in transacting.

[1713544310]

1713544310

[1713544310]

1713544310

[1713544310]

1713544310

[ResuLT]

It is possible, but, it used an alternate way to transact rather than pushing the transaction to the blockchain so there will be no external or miner fees. But, zero transaction fees only applied to the same users which registered on the platform. You can find this amazing feature in coins.id or coins.ph.

[ajochems]

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?

This is the expected one among the traders. From my concern,if this happened.Many of the digital transaction will be made by bitcoin.Then bitcoin will become a king of digital payment. This gradually increase the price of bitcoin in the market.It also increase the investors in bitcoin.

[ralph_0608]

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?

In my own opinion it is impossible to happen as transaction fees are needed by developer for the maintenance cost, upgrade and security of their platform maybe cheaper but not to the point that it is already goes to zero fee as long as there are massive competition price may for transaction cost may go lower to attract users to use their platform.

[Gurjasmeet]

I think it's not a justify question,because any type of business running successfully  requirement without cash.it is not possible to have zero transaction cost for bitcoin & altcoin.quality e

[boy130]

Zero fee transactions are possible, and some mining pools actually accept a small number of zero fee transactions as some sort of charity effort. Besides that several coins actually have zero fees, or close to zero even.

[freneza]

It will never be possible. If they do this, then the cost of their network will come from where? We have to bear some costs for running the network. It is possible to reduce the cost of transcation but it can not be zero.

[spain cool]

If you wanted to take a zero transaction cost in the cryptocurrency blockchain, it is impossible I think, but, its nearly impossible somehow. Transaction fees are controlled by the people who always in rush on getting their transaction to be confirmed so that the transaction can be sent successfully in no time. If you would ever use 0 satoshis or 0 gas fee, expect you will wait for 5 years or even more until the blockchain won't be used to send transactions by anyone else.

[hatshepsut93]

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?

Lightning Network fees are of magnitude of satoshis and even fractions of satoshi's. This is virtually zero-fee transactions. Because Lightning Network is built directly on top of Bitcoin's blockchain, it is theoretically just as secure as on-chain transactions (this is not the case now, because the project is still in beta and there might be bugs/vulnerabilities). All the altcoins that currently promise free transactions and huge scalability are insanely centralized, so I wouldn't even call them cryptocurrencies.

[Gila uang]

I think it is impossible. Every market would need income to continue to exist in the world of krypto.

[muneeb.zain]

As all of us are using bank accounts all around the globe or the paper currency for buying and selling or for transfering all over there must be the taxes and the transfer fee because of the terms and conditions for everything so as the bitcoin is the digital currency it also has the transfer fee.The transfer fee should be reduce but it will never be eliminated for the transfer of bitcoin.

[Nasonn]

It remains to be seen but I hope it do happen someday because one major highlight of cryptocurrency is low transaction fees and it has not been the case is most instances.

[bloodyvio]

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?

it is unlikely there will be zero transactions cost
because to do the transaction you have to turn on your PC or smartphone
electricity usage also includes transaction cost
but so far I only know there are two coins that do not have transaction fee
Nano and IOTA

[kickdapa]

Yes, it is possible. But it will take a long time. Bitcoin needs improvement in other fields like it's transaction time still not good. It's slower than other payment services. If you look before two months ago then you will see that the bitcoin transaction was very high than now. So, it's decreasing. So, day by day bitcoin network will be improving and we can see even zero fee transactions.

[millgates]

Transactions fee is to pay minner, Bitcoin transactions is competting each other. Someone who set higher transactions fee will be prioritized. If you set 0 transactions fee then maybe your transaction will never be confirmed.

[yoseph]

Transactions fee is to pay minner, Bitcoin transactions is competting each other. Someone who set higher transactions fee will be prioritized. If you set 0 transactions fee then maybe your transaction will never be confirmed.

There is not going to be any scenario where people will have the chance to make any transaction without paying any fees if that happens it means that the miners are not going to be required and that goes against the Blockchain technology.

[anisoptera]

It is not possible, miners need to get rewarded, that is the incentive for them to keep mining the blocks, otherwise, why they would be mining? For free? No way, they are cheap now, less than $ 0,10, why are you complaining my friend? It is worthless.

[wilburwilbur]

If you are a miner and you saw a zero transaction fee will you mine it? No right? Hehe
Okay so bitcoin transaction fees are where somewhat the miners get their satoshis and that is why there is a suggested fees because that is how supposedly the system works
But if you are a miner then i think you can do that lol you confirm your own transaction if it will work

[DiamondsAndCoins]

I agree with most here there will most likely be a fee associated with the transactions aside from the rare 0 fee transaction that do occur.  So I guess its possible in one off situations for a zero cost transaction but for the most part you will have to pay the fee.

[t3ChNo]

There are some other altcoins that offers zero or near-zero transaction fees. As for BTC, it's really needed to reward the miners.