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Author Topic: Fee-less cryptocurrencies...Are they the future?  (Read 463 times)
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October 04, 2019, 07:59:34 PM
 #1

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh

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October 04, 2019, 08:11:41 PM
 #2

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh
Nothing of such will prosper in crypto space, exchanges and new projects have to gain profits to sustain and push the project up to new steps to achieve success, i wonder how a project with zero fee will work, its impossible and if any project offers such its scam project

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October 04, 2019, 08:13:35 PM
 #3

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh
Less fee might be good but the problem is world adoption.  there should be more local exchange that will accept  this coin as mode payment so it can easily converted to fiat if that will happen the adoption might be easy .

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October 04, 2019, 11:43:15 PM
 #4

Whether fee-less or with fee, ni an not bothered, inasmuch as the fee is not high. Sometimes, I just wished ethereum could be worked on and the fee either 6 or reduced to the minimum, at least like that of NEM.
As for EOS which is free, it's loyalty bonus can be from the staked EOS taken when opening EOS wallet account.
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October 05, 2019, 02:19:59 AM
 #5

Fees aren't really a huge problem unless network congestion comes in to play. I mean on a good day sending eth is a few pennies. When the network is slammed I've gone to send I've eth, saw a fee of several dollars and basically said "damn it's not that important i will wait till traffic drops". Comparatively speaking blockchain network fees are significantly lower than trading methods of sending money.

Can't remember which currency it was but if you follow whale alert there was recently a tx of hundreds of millions of dollars that was performed for a fee of a few dollars.

You mentioned it yourself. Without network fees what incentive do nodes have to maintain the network and confirm transactions? Would this not undermine network security itself without a reliable backbone of block verification?

If network fees are the price we pay for a transparent, global, trustless, and secure financial revolution then I'm on board. We all should be.

 
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October 05, 2019, 03:05:16 AM
 #6

Money is data. This data is transferred from one place to another, consuming energy. This energy is electric energy and is not free. Someone has to pay this. So your feeless living dream is impossible. sorry Sad
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October 05, 2019, 03:09:30 AM
 #7

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh

There are no fee-less exchanges. Zero fee is a advertising gimmick. Most of the new exchanges go with this promotion. Even some of the old exchanges are providing no fee transaction on a selected number of coins. Some coins are truly feeless and some fees are funded by the exchange themselves but no exchange would sustain paying fees for every kind of coins listed. So, there would never be a fee less exchange.

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October 05, 2019, 03:25:49 AM
 #8

Fees aren't really a huge problem unless network congestion comes in to play.

But with BTC or ETH you can at least get the TX through even when the network is congested if you pay a larger fee. In a way it's self-regulated. I'm not familiar with fee-less coins but I would imagine their network capacity is not unlimited so how would they deal with congestion, with dust spam?
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October 05, 2019, 03:34:05 AM
 #9

We live in a world in witch you have to pay for everything, without money there would be no society because everything is tied on values ​​expressed in money. Feeless equal worthless.
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October 05, 2019, 04:33:33 AM
 #10

I think coin with less fees, already a lot and people will only use it to deposit or withdrawal from 1 exchange to another. Maybe what is important is not about it, make real product so the coin can be used and demand can created.

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October 05, 2019, 05:11:21 AM
 #11

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh
Using the same coins as example, we should realize by now that it's not the future of cryptocurrency market. They have been here for a while now and "enthusiasts" aren't interested mainly on the fee-less feature. Heck, they would even prefer xrp, doge, or ltc for moving their coins despite having minimal fees.
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October 05, 2019, 08:25:03 AM
 #12

There are no fee-less exchanges. Zero fee is a advertising gimmick. Most of the new exchanges go with this promotion. Even some of the old exchanges are providing no fee transaction on a selected number of coins. Some coins are truly feeless and some fees are funded by the exchange themselves but no exchange would sustain paying fees for every kind of coins listed. So, there would never be a fee less exchange.
OP is talking about cryptocurrencies that doesn't have fees and not cryptocurrency exchanges that pays out transaction fee for free. You probably confused the two because of the replies above.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh
Using the same coins as example, we should realize by now that it's not the future of cryptocurrency market. They have been here for a while now and "enthusiasts" aren't interested mainly on the fee-less feature. Heck, they would even prefer xrp, doge, or ltc for moving their coins despite having minimal fees.
I wouldn't say "enthusiasts" aren't interested.  I've looked up the total transactions of those altcoins and eos have the most transactions per day nearly 5m while nano being the lowest at a couple thousands even though it could be the same people making these transactions it's still a lot.

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October 05, 2019, 09:10:20 AM
 #13

Personally, I have found out that fee-less cryptocurrencies are extremely convenient for sending micropayments worldwide. Most of them are blazing-fast in transaction confirmation times, making them an attractive choice on top of Bitcoin or Ethereum. Cryptocurrencies such as EOS, Steem, and Nano have no fees at all, becoming a favorite among several crypto enthusiasts (like me).

However, it's yet to be seen whenever a fee-lees structure is a viable solution for the crypto economy. I mean, if there are no fees on the Blockchain, then how would delegates maintain their loyalty to fee-less cryptocurrencies? I believe that in order to maintain long-term stability, there needs to be an incentive via the collection of fees among the network's users.

Nonetheless, do you think that fee-less cryptocurrencies are the future of the crypto industry? Or are they simply a niche? Huh

I think almost all cryptocurrency is quite cheap for the transfer fee. Cheaper fees may be attractive but in my opinion not a decisive factor for investors to invest because many projects use ethereum networks that are very inexpensive to conduct transactions

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October 05, 2019, 09:26:26 AM
 #14

If we talk about lower or less fee it is possible. But fee less transactions using crypto? I think this is not possible because all we know that every organization and company are all same goal which is to earn profit. And how does the company earn if they offer their service for free? So for me it is not feasible in this industry even in the future.

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October 05, 2019, 09:41:51 AM
 #15

Fast transactions at less fee are the ideal combination and are always the choice of many crypto users and I think the two reasons that make fee-less crypto will continue to survive and always be everyone's favorite, now or in the future.


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October 05, 2019, 08:18:56 PM
 #16

I think that's out of the question. In this case, it will take a fee for other services is likely, because need to make a profit from somewhere. I do not think that this is the future, but I am sure that most projects, both new and old, will seek to reduce transaction fees. This dictates the time.

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October 05, 2019, 09:32:45 PM
 #17

A cryptocurrency without fees can be attacked by spamming its network with a lot of small transactions, thereby overloading such network.
Fees are important from a security point of view, to make spam attacks too costly to initiate.

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October 05, 2019, 09:56:38 PM
 #18

Low fees would be the ideal thing in the future. Just like your concern, miners will tend to shift to another cryptocurrency that will pay them for their efforts of confirming the transactions and if there's no incentive from that crypto through verification and confirmation, I doubt it that they will stay.

Fees are still needed but it doesn't have to be that expensive, fee less is an incentive but there's risk in it.

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October 05, 2019, 10:03:33 PM
 #19

They are fast and all until the mass adoptin hits, the blockchain becoming so crowded and they will face scaling issues. Bitcoin back in the days used to be really fast and have a really cheap fees even so many people saying that bitcoin's fees is a lot cheaper than sending from paypal or bank but now that the blockchain is really crowded everything become slow and the fee sometimes rising up so much. Therefore, I won't say that they are the future until they have gone through the mass adoption and see whether there is a problem or not otherwise their blockchain will be left untested and could potentially have a problem when the mass adoption hits.

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October 05, 2019, 10:16:18 PM
 #20

In my opinion fee, less cryptocurrency will not do much if not for the people behind them, I guess if not for their proper launch in the market they will end up like another shit coin, I do believe that many individuals are attracted with their fee less cryptocurrency but how can they maintain such things if they will just offer lesser fee, I guess some will be curious on how they maintain such thing, and I think that lesser fee and not fee less is their implication on their coins, If they don't have fees at all they will just end up like a shit coin because they will have a difficult time maintaining it because of the financial needs a project to be maintain.

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