Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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November 05, 2014, 12:11:04 PM |
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tx fees helps you to process your transaction fast
als in future when bitcoin block rewards will dropped then Tx fees will be a way to get bitcoin other then mining
uhhh.. tx fees goes to miners. |
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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awesome31312 (OP)
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November 05, 2014, 12:20:34 PM |
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Miners should either get coins they mine or fees, but not both
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Account recovered 08-12-2019
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Dabs
Legendary
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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November 05, 2014, 12:28:25 PM |
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Miners should either get coins they mine or fees, but not both
Currently, miners get both. How do you propose to separate them? The miner gets the block reward, because he found the block. Because he finds the block, he gets all the tx fees that are included in that block. |
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Soros Shorts
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Activity: 1616
Merit: 1003
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November 05, 2014, 01:15:16 PM |
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Miners should either get coins they mine or fees, but not both
Miner's income is supposed to transition from 100% block rewards to 100% fees at some point in the future. If you mined back in 2009-2011 you will remember that fees were 0% back then. When we drop to 12.5 BTC block rewards in a couple of years expect fees to go up. It is working as designed. |
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cr1776
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Activity: 4018
Merit: 1299
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November 05, 2014, 01:16:08 PM
Last edit: November 05, 2014, 04:58:32 PM by cr1776 |
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Miners should either get coins they mine or fees, but not both
Fork the code with your suggestion and let us know how it works out. See how many miners mine your fork. |
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allthingsluxury
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Activity: 1540
Merit: 1029
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November 05, 2014, 01:47:23 PM |
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The great thing about bitcoin is, no one can force you to do anything. There are lots of options out there and lots of methods to store and pay.
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Gold & Silver Financial News: Silver Liberation Army, Gold & Silver News, Geopolitical & Financial News, Jim Rickards Blog, Marc Faber Blog, Jim Rogers Blog, Peter Schiff Blog, David Morgan Blog, James Turk Blog, Eric Sprott Blog, Gerald Celente Blog |
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awesome31312 (OP)
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November 05, 2014, 02:03:29 PM |
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The great thing about bitcoin is, no one can force you to do anything
Except for signing and logging your transactions on the blockchain of course |
Account recovered 08-12-2019
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jbreher
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Activity: 3038
Merit: 1660
lose: unfind ... loose: untight
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November 05, 2014, 03:21:55 PM |
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Then they shouldn't claim to be free
Where did you see any such claim? |
Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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shawshankinmate37927
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November 05, 2014, 03:55:51 PM |
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Except for signing and logging your transactions on the blockchain of course
Who's forcing someone to use the blockchain? |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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vabtc
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Activity: 55
Merit: 4
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November 05, 2014, 04:00:33 PM |
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I use .00001 fee all the time and it's gets added pretty quickly. $.003 isn't very ridiculous to me when i'm moving $1500 or even $5 around.. total fees per block currently avgs .1 - .2 btc.. big whoop.
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RodeoX
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Activity: 3066
Merit: 1145
The revolution will be monetized!
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November 05, 2014, 04:43:36 PM |
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Miners should either get coins they mine or fees, but not both
Miner's income is supposed to transition from 100% block rewards to 100% fees at some point in the future. If you mined back in 2009-2011 you will remember that fees were 0% back then. When we drop to 12.5 BTC block rewards in a couple of years expect fees to go up. It is working as designed. Exactly. It is working fine. I wish people would stop trying to fix the parts of bitcoin that are working. If you cut off the fees to miners then why on Earth would they spend money on equipment and electricity to do work for you? |
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nor9865
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November 05, 2014, 05:34:14 PM |
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Except for signing and logging your transactions on the blockchain of course
Who's forcing someone to use the blockchain? Well no one, but to view transactions you must use some kind of public ledger which is where the blockchain jumps in. |
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Supercrypt
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Activity: 1554
Merit: 1054
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November 05, 2014, 07:44:35 PM |
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no you are not forced to pay tx fee
you can send money without tx fees
just sending fund with tx fees will speedup your transaction confirmation
and tx without fees can take a lot of time to get confirmed
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picolo
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November 05, 2014, 09:00:57 PM |
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We are FORCED to pay a tax upon every transaction, and they say Bitcoin doesn't have any taxes? That's just pure crap. Taxation is unconstitutional theft via armed extortion. In Bitcoin's case, it's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY).
It is not a taxe that you don't have a choice of paying, it is a price for a service that you can choose not to use |
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RodeoX
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Activity: 3066
Merit: 1145
The revolution will be monetized!
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November 05, 2014, 09:10:42 PM |
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We are FORCED to pay a tax upon every transaction, and they say Bitcoin doesn't have any taxes? That's just pure crap. Taxation is unconstitutional theft via armed extortion. In Bitcoin's case, it's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY).
It is not a taxe that you don't have a choice of paying, it is a price for a service that you can choose not to use Right. and let's break this down: We are FORCED to pay a tax upon every transaction -Nopeand they say Bitcoin doesn't have any taxes -Nope, who said that?Taxation is unconstitutional theft via armed extortion. - lol Nopeit's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY). -Nope |
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vm89
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Activity: 56
Merit: 0
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November 05, 2014, 09:13:07 PM |
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We are FORCED to pay a tax upon every transaction, and they say Bitcoin doesn't have any taxes? That's just pure crap. Taxation is unconstitutional theft via armed extortion. In Bitcoin's case, it's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY).
It is not a taxe that you don't have a choice of paying, it is a price for a service that you can choose not to use Right. and let's break this down: We are FORCED to pay a tax upon every transaction -Nopeand they say Bitcoin doesn't have any taxes -Nope, who said that?Taxation is unconstitutional theft via armed extortion. - lol Nopeit's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY). -NopeAgreed. You can choose your transaction fees really. It's just your transaction will confirm slower. |
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evansearle42
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November 06, 2014, 01:54:02 AM |
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We are FORCED to pay a tax upon every transaction, and they say Bitcoin doesn't have any taxes? That's just pure crap. Taxation is unconstitutional theft via armed extortion. In Bitcoin's case, it's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY).
It is not a taxe that you don't have a choice of paying, it is a price for a service that you can choose not to use Right. and let's break this down: We are FORCED to pay a tax upon every transaction -Nopeand they say Bitcoin doesn't have any taxes -Nope, who said that?Taxation is unconstitutional theft via armed extortion. - lol Nopeit's unavoidable, and is without the armed extortion (YOU ARE FORCED TO PAY). -NopeWell the "tax" that you are "forced" to pay (ex, the TX fees) is something that helps keep your money secure by giving the miners an incentive to continue to mine (and receive TX fees). The overall "tax" that is paid on a per TX basis is very small and is often free if the circumstances warrant. |
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bryant.coleman
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Activity: 3654
Merit: 1217
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November 06, 2014, 05:35:14 AM |
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I believe that now it is time to scrap the tx fee. The miners are hardly getting any benefits out of the transaction fee and the opponents of Bitcoin are using it as a weapon to attack the Bitcoin community.
I am sure the spammers would love that. As of now, transaction fee is not proving to be an effective anti-spamming measure. Spamming is wide spread. Some other measure needs to be introduced, inorder to combat spamming. |
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Buffer Overflow
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Activity: 1652
Merit: 1015
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November 06, 2014, 07:46:38 AM |
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Transactions fees are voluntary and can be ignored if you choose.
Miners including you transaction in their block is voluntary and can ignore it if they choose.
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awesome31312 (OP)
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November 06, 2014, 04:05:43 PM |
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Transactions fees are voluntary and can be ignored if you choose.
Not if you use Armory Blockchain's online wallet also forces such a fee. |
Account recovered 08-12-2019
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