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awesome31312 (OP)
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November 12, 2014, 09:53:39 AM |
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I absolutely HATE paying 0.001 BTC
Pay taxes? What am I? Poor?
This is NOT what Lincoln was shot for
You are actually off by a factor of 10 as to how much you will generally need to pay for a TX fee. The "standard" TX fee stands at .0001 BTC not .001 BTC. Either way the "fee" is very small when compared to the alternatives. It's 0.001 on Armory |
Account recovered 08-12-2019
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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Erdogan
Legendary
 Offline
Activity: 1512
Merit: 1005
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November 12, 2014, 10:28:35 AM |
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I absolutely HATE paying 0.001 BTC
Pay taxes? What am I? Poor?
This is NOT what Lincoln was shot for
You are actually off by a factor of 10 as to how much you will generally need to pay for a TX fee. The "standard" TX fee stands at .0001 BTC not .001 BTC. Either way the "fee" is very small when compared to the alternatives. It's 0.001 on Armory Change it in "settings". |
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cryptworld
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November 12, 2014, 11:06:41 AM |
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actually you can avoid the payment of the fee,but you take the risk that your bitcoins may not arrive,so it is our choice
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awesome31312 (OP)
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November 12, 2014, 11:18:35 AM |
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I absolutely HATE paying 0.001 BTC
Pay taxes? What am I? Poor?
This is NOT what Lincoln was shot for
You are actually off by a factor of 10 as to how much you will generally need to pay for a TX fee. The "standard" TX fee stands at .0001 BTC not .001 BTC. Either way the "fee" is very small when compared to the alternatives. It's 0.001 on Armory Change it in "settings". No such option in my version of Armory |
Account recovered 08-12-2019
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RobertDJ
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November 13, 2014, 06:18:00 AM |
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I absolutely HATE paying 0.001 BTC
Pay taxes? What am I? Poor?
This is NOT what Lincoln was shot for
You are actually off by a factor of 10 as to how much you will generally need to pay for a TX fee. The "standard" TX fee stands at .0001 BTC not .001 BTC. Either way the "fee" is very small when compared to the alternatives. It's 0.001 on Armory Change it in "settings". No such option in my version of Armory Use a different client then. QT allows you to change the default TX fee. Blockchain.info will allow you to set a custom TX fee. Multibit will manage your inputs and will use a TX fee that is the minimum generally required to get your TX quickly confirmed by the network. You can manually create a TX that does not include a TX fee EDIT: no one is "forcing" you to use armory |
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Borisz
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November 13, 2014, 09:23:27 AM |
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I absolutely HATE paying 0.001 BTC
Pay taxes? What am I? Poor?
This is NOT what Lincoln was shot for
You are actually off by a factor of 10 as to how much you will generally need to pay for a TX fee. The "standard" TX fee stands at .0001 BTC not .001 BTC. Either way the "fee" is very small when compared to the alternatives. It's 0.001 on Armory Change it in "settings". No such option in my version of Armory Use a different client then. QT allows you to change the default TX fee. Blockchain.info will allow you to set a custom TX fee. Multibit will manage your inputs and will use a TX fee that is the minimum generally required to get your TX quickly confirmed by the network. You can manually create a TX that does not include a TX fee EDIT: no one is "forcing" you to use armory QT does allow you to change the TX fee, which doesn't really matter since sometimes it will force you to pay it. Hence it is not optional any more. (Too many small transactions. I get why this is, however it is still funny that I get "punished" for paying 100€ in 5€ bills) I do see that the fee is incredibly low and personally I think one of the best uses of Bitcoins is to send money half way across the world as fiat => BTC => fiat and if you are moving large sums, it is indeed negligible. As I said, it "hurts" people who are getting into bitcoin and only have some 0.01 BTC or so. In that case you might not want hold on to every penny. Of course if you have 700'000$ to paly with, 2$ don't matter. Also, since mining is not truly decentralized any more, don't tx fees support cloudmining services/farms then? |
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AtheistAKASaneBrain
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November 13, 2014, 01:02:10 PM |
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You are NOT forced to pay, and if no one paid, Bitcoin would be dead because miners need incentive. Do you want that?
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picolo
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November 14, 2014, 04:56:50 PM |
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You are NOT forced to pay, and if no one paid, Bitcoin would be dead because miners need incentive. Do you want that?
Right now miners have a big enough incentive with the mining reward, fees are here for long term considerations and to organize the network |
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Borisz
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November 16, 2014, 07:55:04 AM |
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You are NOT forced to pay, and if no one paid, Bitcoin would be dead because miners need incentive. Do you want that?
If I set 0 tx fee in /settings and try to send a transaction it will tell me that the amount I want to send is X + Y of transaction fees. "Do you want to Send? Yes/Cancel" So yes it is optional in a way that if I change my mind about sending the coins and then I don't pay the tx fee. This is in qt core. Previous versions simply asked "This transaction is over the size limit, do you want to include XY amount of transaction fees to be processed faster?" and there you could say no I'm fine with a slower transaction. I don't think newer clients do it like this. You are NOT forced to pay, and if no one paid, Bitcoin would be dead because miners need incentive. Do you want that?
Right now miners have a big enough incentive with the mining reward, fees are here for long term considerations and to organize the network 100% agree. |
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bitnanigans
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November 16, 2014, 08:51:14 AM |
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You don't have to pay the transaction fee, but be prepared to wait a long time for your transactions to confirm.
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1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
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November 16, 2014, 01:47:59 PM |
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You don't have to pay the transaction fee, but be prepared to wait a long time for your transactions to confirm.
It's not worth it to send transactions without fee as it may take days before it confirms. At this point 0.0001BTC is only 4 cent. Don't waste days just to save yourself a few cent. |
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Erdogan
Legendary
Offline
Activity: 1512
Merit: 1005
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November 16, 2014, 03:17:18 PM |
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It's terrible, I had to shell out half a cent or so to have a few hundred dollars' value transfered half way round the world in less than a second.
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Sythyn
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November 16, 2014, 05:18:10 PM |
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You don't have to pay the transaction fee, but be prepared to wait a long time for your transactions to confirm.
It depends on your definition of a "long time". Even transactions that will eventually confirm without a fee will do so within ~18 hours or so. If you compare this to how long it takes for a check to 'clear' the banking system this is still very quick |
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picolo
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November 16, 2014, 06:41:41 PM |
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It's terrible, I had to shell out half a cent or so to have a few hundred dollars' value transfered half way round the world in less than a second.
Half a cent to have a secured non reversible transaction in a commodity that cannot be inflated to death and is likely to raise in value. Also, you avoid a third party risk if you store it yourself. |
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Sheldor333
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November 16, 2014, 09:23:11 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).
You are not forced to do anything, or you don't understand how it works. Fees are so that transactions are completed faster and once all the coins are mined there is some incentive for people to keep mining. |
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Flashman
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November 16, 2014, 09:37:43 PM |
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In as much as the purpose of money is to provide a system whereby resources are allocated "efficiently" to areas of most need, i.e. those who value them highest and will pay most for them, the limited resource of space in a block is allocated first to those most willing to pay for it.
If you were expecting bitcoin to be anti-capitalist, well, sorry about your luck.
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TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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picolo
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November 16, 2014, 10:05:08 PM |
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In as much as the purpose of money is to provide a system whereby resources are allocated "efficiently" to areas of most need, i.e. those who value them highest and will pay most for them, the limited resource of space in a block is allocated first to those most willing to pay for it.
If you were expecting bitcoin to be anti-capitalist, well, sorry about your luck.
Bitcoin is a free market decentralized currency that allows to have a non government manipulated mean of exchange that has intrinsic value |
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Dabs
Legendary
Offline
Activity: 3416
Merit: 1912
The Concierge of Crypto
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November 17, 2014, 01:48:05 AM |
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If you don't pay a tx fee, the transaction may take several days to confirm. Sometimes they confirm within a few hours. I've had one take a day or two, I forgot. Even if it takes 3 days, this is still much faster than waiting for a bank or demand draft from another country to clear.
Currently, a minimum tx fee of 0.00001 BTC will ensure that your transaction will confirm within the next couple of hours, probably sooner, usually within the next block.
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TinaK
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November 17, 2014, 03:09:17 AM |
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can we remove it it?
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thew3apon
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November 17, 2014, 05:29:01 AM |
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can we remove it it?
You are not forced to pay a TX fee (probably said at least 10x so far in this thread) although removing the TX fee from your TX will generally cause small delays in the confirmation of your transaction. Even without a TX fee your transaction will likely still be confirmed in much less time then most other remittance services can offer. IMO the OP has lost all credibility by making this thread. |
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