The transaction fee is just ridiculous.

[Q7]

I should be utterly worried to hear what you have to say when all the 21 million coins have been mined

[1714616840]

1714616840

[1714616840]

1714616840

[Buffer Overflow]

use Electrum and set zero fees
you risk to lose your bitcoins

You can't lose your coins that way.

[shanem]

When bitcoin price is more expensive, we need some altcoins for trading in smaller values.
Currently bitcoin transaction fee seems cheap because bitcoin price is low.
Imagine bitcoin transaction fee when bitcoin is 10k and above.

[DannyHamilton]

- snip -
Currently bitcoin transaction fee seems cheap because bitcoin price is low.
Imagine bitcoin transaction fee when bitcoin is 10k and above.

Are you aware that the customary transaction fee has been reduced multiple times in the past as the exchange rate has risen?

Is there some reason that you think the customary transaction fee will never change again for as long as bitcoins continues to exist?  That seems like a rather silly assumption.

[Walter Rothbard]

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).

No problem, and there's no coercion involved.  People who will perform the service of mining for you will do so for a fee.  However, you are free to perform the service of mining yourself if you don't want to pay that fee.  Or you are free to not use Bitcoin.  You could even run your own alternative blockchain if you wanted, with your own rules.

The sky's the limit!  Thank Satoshi and many others for providing all of this for you for free!

[Walter Rothbard]

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 pay anything.

You are not even FORCED to use bitcoin.

You are welcome to use bitcoin if you like, and you are welcome to pay any fee (or no fee at all if you like).

Equally, the peers on the network are not FORCED to relay your transaction if they don't want to.

They are welcome to relay your transaction if they like, and they are welcome to ignore your transaction if they like.

Equally, the miners are not FORCED to include your transaction in their blocks.

They are welcome to include your transaction if they like, and they are welcome to leave your transaction for some other miner to include in their block if they like.

Isn't it great how NOBODY is FORCED to do any of these things with bitcoin.

Nobody is entitled to get their way at the expense of other people.

It's a great way to live!

[spazzdla]

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).

This is not true.. you can have your miners do your transactions for no fee.

[salfter]

I pay zero fee TXs all the time and they get confirms.
The Constitution only applies to the government.
Nobody is armed forcing you to pay TX fees.

people may not know.. i use Multibit and it forces a fee that is NOT cheap !

if i want to send $500,000 worth of BTC it would cost me 0.0001 BTC
and if i want to send 0.0002 BTC it costs me 0.0001  BTC

BTC0.0002 is about 7.6¢. You can't even find a gumball machine anymore that takes less than a quarter. Why are you trying to send such a small amount?

If you don't like the fee policy Multibit enforces, don't use Multibit.  There are plenty of other options that'll let you set whatever transaction fee you want.

If you want to pay 0 tx fees (which I don't recommend), I have three words for you:

createrawtransaction
signrawtransaction
sendrawtransaction

CheapSweep uses those to combine lots of small inputs into a single, larger output.

[Verse]

Try paying a satoshi to one of your alternative wallets with a 0.00000000 BTC fee

Ok so you want to be free to spam the blockchain? You have fundamentally misunderstood A) Freedom (Free Markets), B) The purpose of the TX fee, and C) How you harm the network by creating asinine transactions like sending 1 satoshi.

Tax is a time-based penalty of ownership. Bitcoin transaction fees are not time-based, they are a one-off expense. In fact, the protocol gives preference to "stagnant" Bitcoin transactions and allows for lower transaction fees. There is no taxation penalty for holding Bitcoin. Hold it a year, hold it a day, and when you go to spend it you're stuck with an independent fee.

[RustyNomad]

Just something I thought of while reading through the tread.

I understand that newcomers to bitcoin is often frustrated by the fees, I know I was. The first bitcoins a newcomer usually get is those from faucets and if you really go for it it is possible to make around 50,000 satoshi or even double that from the faucets in a day.

Many then use these coins to 'play' around with to test how things work etc.. but then run into the 10,000 satoshi fees which makes out a very large percentage of their 'faucet' coins even though its true value is negligible if measured in fiat.

I never really used the testnet version of bitcoin except for the short period while testing the new MyCelium version. Should newcomers not maybe be shown how to play around on/with the testnet where they can pass around coins to their hearts content and by doing so get a true feel for how it actually works?

I'm still a newcomer myself so sorry if this idea sounds a bit daft, just something I thought about.

[fathur01]

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).

$0.04 is a BIG tax huh? You pay 4 cents and you can send millions of dollars across the world for FREE! Think about it.

[jbreher]

Should newcomers not maybe be shown how to play around on/with the testnet where they can pass around coins to their hearts content and by doing so get a true feel for how it actually works?

Test net is available to everyone.

Some time back, new registrants to this forum were limited to posting in the 'Newcomers' section (though they could read the entire forum). This gave a handy place for noobs to learn these basic concepts before wading out and embarrassing themselves by spewing nonsense on the rest of the forum.

Of course, noobs _could_ continue to learn these basics in the place most suited for such discussions. But they must feel insulted, or too self-aggrandized, or something.

[itsAj]

Transaction fees support the network they are needed?

[RappingSniper]

You are not forced, you dont have to pay a transaction fee. But by not paying a fee you may not got your transaction processed until a miner who is kind enough to process transactions for free allows your transaction in a block.

[Ondago]

You're not forced. You're welcome to mine your own blocks. You can get to work with a pencil and paper here => http://www.youtube.com/watch?v=y3dqhixzGVo

[darthcoin]

You don't have to pay the fee, I never do and my transactions always clear. Are all of you guys too scared to even try sending a feeless tx? Cause mine always work

[cr1776]

This was a great troll.

[RustyNomad]

You're not forced. You're welcome to mine your own blocks. You can get to work with a pencil and paper here => http://www.youtube.com/watch?v=y3dqhixzGVo

Best reply by far.... 

[RodeoX]

Ah, so because you don't want to pay a few pennies, miners around the world should use their electricity and hardware to do your Tx for free? I assume you know that all things cost money and that someone has to pay. If so, why should someone else pay your bills?

[awesome31312]